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Globalisation & its impact on... - Coggle Diagram
Globalisation & its impact on...
Economy
Benefit: Creation of
more employment opportunities
in developing countries due to MNCs which can in turn push for
greater realised/economic growth
This may however cause a greater competition in jobs amongst locals as locals are now forced to contend with cheaper sources of labour
Benefit:
Lower prices of goods
as larger/international companies are able to ride on economies of scale to provide cheaper products
This may however hurt local businesses as the latter struggles to keep up with such price offerings
Benefit:
Investment into infrastructure and technology
to attract FDI/MNCs, which can in turn spur on further growth with such crucial infrastructures in place
Benefit: Globalisation brings about greater competition to businesses and this can trigger
a greater incentive to innovate
to stay competitive and relevant
Risk/Cost:
Exploitative behaviours
by MNCs/global businesses as companies seek to minimise cost incurred, leading to troubling human rights abuses
Risk/Cost:
Greater instability due to greater interdependence
, since one country's financial woes can now easily impact another
Risk/Cost:
Persistent inequality across countries
as benefits of globalisation are still largely skewed to the richer nations, giving rise to an imbalanced economic growth across the world
Benefit: Lower poverty rates and bridging of international income gap
Culture
Benefit: Fostering cultural exchanges that leads to
greater diversity, multiculturalism and potentially greater innovation
(glocalisation & cultural hybridity)
Benefit:
Greater accessibility to different cultural expressions and products
, helping to promote unique/long-lost cultural traditions and practices
Benefit:
Greater capacity to communicate and defend one's values and ideas globally
, pushing for the debunking of stereotypes and misconceptions about other peoples and cultures
Risk/Cost:
Danger of cultural homogenisation
and erosion of local traditions due to cultural imperialism/colonialism, leading to a blended and more uniform cultural practice (Westernisation, McDonaldisation)
Risk/Cost:
Cultural appropriation
, where dominant cultural groups exploit minority's culture in a way that does not respect its original meaning or give credit to their source, or reinforces stereotypes
Risk/Cost:
Cultural commodification/commercialisation
which can undermine the intrinsic value of certain traditions/practices.
Environment
Benefit:
Creating public awareness
on differing environmental standards and promoting green brands/eco labels and fair trade practices
Benefit: Sharing/Transfer of
efficient/green technologies
from countries with stricter environment regulations to pollution havens.
Benefit: Multilateral negotiations and organisations that help promote
sustainable policies and environmentally cooperative agreements
Risk/Cost:
Hazardous waste trade (plastic) and illegal dumping
happening on developing countries, causing some locals to suffer greatly from a poor standard of living
Risk/Cost:
Mass production of goods
(driven by a consumerist culture) puts a toll on the struggling planet as limited resources are expended to meet transient needs of consumers
Risk/Cost:
Greater carbon emissions
are seen due to a higher frequency in air transport and industrial activity, fuelled by globalisation.
Politics
Benefit:
Provision of bilateral and multilateral aid
to help struggling nations emerge from their problems
Benefit:
Creation of international organisations
to broker peace and facilitate the solving of global issues (global governance), engendering stronger cooperation
Benefit: The role of
transnational advocacy networks helping to promote a global civil society
, where the spread and influence of non-governmental organisations help to garner greater support for social issues
Benefit:
Democratisation of the world
, leading to a literal spread in democracy to all parts of the world and giving smaller nations a say in international politics
Risk/Cost:
Potential weakening of the nation-state
as traditional notions of sovereignty and authority are challenged
Risk/Cost:
Worsens global peace and security
as more powerful nations compete in making decisions within supranational organisations, resulting in undue global tension
Social
Risk/Cost:
Potential tension arising between the locals and the migrants/foreigners
as globalisation brings together people of different cultures/backgrounds
Benefit: Generates
greater awareness and traction with regard to social injustices and inequalities
, creating a global social movement fuelled by social media
Benefit:
Feminisation of the labour force
due to migrant economics, leading to greater gender equality seen
Risk/Cost:
Potential weakening of the family unit
as globalisation encourages individuals to leave their families in search of better opportunities and the use of technology encourages more individualistic consumption/behaviour
Risk/Cost:
Brain drain
as cities/urban areas continue to attract talents while rural areas of the country lose its competitive edge
Risk/Cost:
Weaker national identity and destabilisation of the nation state
as individuals identify themselves more as global citizens with global problems, sometimes at the expense of the nation
Risk/Cost:
Greater threats relating to extremism/radicalisation
, as transboundary flows may increase one's exposure to extreme ideas/values
Risk/Cost: Greater demand for human labour at work may
encourage/perpetuate the issue of child labour
, depriving the children of education in their critical ages
Benefit: Gives displaced individuals/refugees the opportunity to seek asylum/refuge in another country, providing
greater security and opportunities
Health
Benefit:
Development goals
set by international organisations to improve health (sanitation, food etc) of developing countries
Benefit: Increased information flows and advances in communication and technologies help to
promote the spread of health knowledge and expertise
Risk/Cost:
Greater global instability
as infectious diseases can easily spread to other countries due to more rapid/frequent movement of humans
Benefit:
Medical tourism
made possible as individuals with debilitating health/critical conditions can seek treatments from other countries
Risk/Cost:
Harmful and more decadent practices/lifestyles
promoted (by the West) as the world sees a
global spread in 'lifestyle' diseases
such as obesity and heart diseases