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GLOBALISATION - Coggle Diagram
GLOBALISATION
CAUSES OF GLOBALISATION
trade in goods - more goods are being manufactured abroad and many are in developing countries and developed countries are acquiring capital and the information to produce manufactured goods
trade in services - trae in services like tourism is growing. call centres for customers in developed countries are being located in developing countries
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MNC's - MNC's have grown in number and size in many different industries like car manufacturing and the oil industry. large MNC's have economies of scale and technological knowledge to make products that are both cheap and technologically advanced.
international financial flows - international financial flows are becoming far greater. countries like china and Malaysia have financed part o their fast economic growth from inward flows of international capital.
foreign ownership of firms - foreign ownership of firms is increasing. Many large MNC's have invested in factories and companies in china for example.
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IMPACT ON CONSUMERS
consumer choice - the availability of goods and services had increased greatly with gloablisation leading to greater consumer choice
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incomes - consumers can only buy goods and services if they have an income. overall, globalisation has raised income around the world
IMPACT ON WORKERS
employment and unemployment - globalisation has seen both wins and losss in employment and unemployment. in western countries there have been large scale losses of jobs whilst in the developed world there has been an increase in employment
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