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Supporting Globalization - Coggle Diagram
Supporting Globalization
Jobs
If the company grows, they can build more offices, factories and provide more jobs for people.
The lower cost jobs will let devoloping countries live better on less money.
worldbank.org/en/news/opinion/2018/05/11/more-and-better-jobs-for-developing-nations
Helps Developing Countries
Solves Poverty Problem
Economic growth is the main channel through which globalization can affect poverty.
https://insights.som.yale.edu/insights/how-has-globalization-benefited-the-poor#:~:text=Economic%20growth%20is%20the%20main,trickle%20down%20to%20the%20poor
.
research shows: When countries open up to trade, their living standards go up and the country grows faster
before
Trade Barriers
Not able to tap into world economy
https://www.linkedin.com/pulse/impact-globalization-developing-countries-fairooz-hamdi
Cheaper Manufacturing
Globalization permits organizations to find cheaper ways of creating their items. It additionally increments worldwide contest, which drives costs down and makes a bigger assortment of decisions for customers. Brought down costs help individuals in both creating and as of now evolved nations live better on less cash.
Lower labour costs translates into lower production costs
Gives Access To New Cultures
Globalisation makes it easier than ever to access foreign culture, including food, movies, music, and art. This free flow of people, goods, art, and information
For example, teachers from different countries at school will be able to teach students their cultures and countries.
Education
Developing countries can learn about the high tech things from other big conutries make make life better.
https://www.ibo.org/globalassets/dulfer-jta-final-report-en.pdf
Schools can have teachers from a different country like Hong Kong and teach more interesting and useful things to the children to make them more useful in society.
Efficient
Reduced Friction of Distance
Transportation
Trade
Communication