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Globalizsation - Coggle Diagram
Globalizsation
Improvement in transportation
goods and people can travel quickly
Products can be travel quickly to a low labor country to gain more profit by hiring cheaper worker
It helps people to create a large amount of products and selling the product in a cheaper price
boats, cars, planes
containerization is an idea where it place good in a container and then ships around the world
better services and able to access more target audience
Freedom of trade
promote free trade between country
helps to remove barrier in certain countries
trade block
(WTO) is a good example for promoting the idea of freedom of trade
TNC
It can influence politics and economy
apple, tesla, google,
companies that produce products and services internationally
TNC is a way of globalization
Companies usually produces goods and services in a low labour country and then selling it in a more developed country
With LEDC and MEDC countries it helps companies to produce goods and more importantly make the world unite as one by relying and helping each other
Improvement of communication
technological innovation helps the world to communicate with each other easily
smart phone, computer, internet
Easier for people to become alias and communicate to other countries
Makes trading easier between countries
Labour availability and skills
countries could utilise low labour country to hire worker and make a greater profit
LEDC countries