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GLOBALIZATION - Coggle Diagram
GLOBALIZATION
PROS
easier to communicate throughout boundaries
easier to travel
cultural interchange/increased cultural awareness
international trade
better/cheaper products
improvement of technologies
cheaper products increase purchase power
transport = easier & faster
creates political & economical union
lift people out of poverty
elimination of currency manipulation
encourages free trade
opens up free communication
CONS
delocalization --> unemployment in developed countries
non-controlled circulation of money (=free market) --> no ethics
businessmen & big companies = only winners in globalization
money problems can be spread easily
exploitation of workers (incl. children)
small companies out of business because cant compete
mix of culture --> racism, xenophobia, etc.
fail to contribute towards desired gains
gap between poor & rich increases
more power in hands of multinational corporations
may contribute towards cultural homogeneity
lack of local businesses
unequal economic growth