Globalisation

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  • Created by: pvibrans
  • Created on: 06-04-15 14:01
What is Globalisation?
Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange.
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Name three things globalisation has resulted in.
Increased international trade, companies operating in more than one country and recognition of companies (Starbucks, MacDonald's etc) in LEDCs.
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What are multinational corporations (MNC) otherwise known as transnational corporations (TNC)?
These are large and powerful businesses that have factories that make products and offices that sell products in different countries
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Although globalisation is helping to create more 1 ____ in 2_____ countries, it is not helping to close the gap between the world's 3_____ countries and the world's 4_____ countries.
1) wealth 2) developing 3) poorest 4) richest
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Name the four key factors which have influenced the process of globalisation.
- Improvement in transportation -Freedom of trade -Improvements of communications -Labour availability and skills
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What is inward investment? Is it a positive or negative impact?
when a company invests in a foreign country by building maybe a factory or a shop. It is positive because it provides new jobs and skills for local people.
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Give three examples of an MNC.
Nike, MacDonald's, Coca-Cola.
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Name three factors which would attract TNCs/MNCs to a country.
Cheap raw materials, cheap labour supply, good transport.
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Where does Globalisation operate mostly? Why is this a negative impact?
it operates mostly in the richest countries, which continues to dominate world trade at the expense of developing countries.
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What is the role of LEDCs in the world market?
Mostly, it is to provide the North and West (the MEDCs) with cheap labour and raw materials.
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How can inward investment be a negative impact?
Often, profits are sent back to the MEDC where the TNC is based. TNCs with their massive economies of scale can drive local companies out of business.
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what is economies of scale?
when big companies can produce things cheaper than smaller companies.
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How can TNCs operate in LEDCs in a way that wouldn't be allowed in an MEDC?
an absence of strictly enforced laws means that they could pollute the environment, run risks with safety or impose poor working conditions and low wages on workers.
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How could globalisation be a threat to the world's cultural diversity?
it may drown out local economies, traditions and languages. For example, a Hollywood film is far more likely to be successful worldwide than one made in India or China.
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How could globalisation negatively impact MEDCs?
Industry may begin to thrive in LEDCs at the expense of jobs in manufacturing in the UK and other MEDCs, especially in textiles.
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Other cards in this set

Card 2

Front

Name three things globalisation has resulted in.

Back

Increased international trade, companies operating in more than one country and recognition of companies (Starbucks, MacDonald's etc) in LEDCs.

Card 3

Front

What are multinational corporations (MNC) otherwise known as transnational corporations (TNC)?

Back

Preview of the front of card 3

Card 4

Front

Although globalisation is helping to create more 1 ____ in 2_____ countries, it is not helping to close the gap between the world's 3_____ countries and the world's 4_____ countries.

Back

Preview of the front of card 4

Card 5

Front

Name the four key factors which have influenced the process of globalisation.

Back

Preview of the front of card 5
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