Please enable JavaScript.
Coggle requires JavaScript to display documents.
Good and Bad things about Globalisation - Coggle Diagram
Good and Bad things about Globalisation
Good
Inventions that impact people's life
Globalization can allow more firms to share products around the world via trade and increased transfer of goods. This way, more people can know and buy a new iPhone.
More domestic firms in countries are emerging in market economies to share innovations and inventions.
Economical Benefits
Raises purchasing power parity and benefits poorer people while also gaining customers
Globalization decreases the cost of manufacturing, which would mean that the people who are buying the product could save money and people who are poor wouldn’t be so poor anymore
A country could buy cheaper materials that they aren’t that good at making than making their own which would cost a lot more. So that they can focus on making the things that they are good at and export it to the countries that they got the materials from
Globalization brings people together so that they can complete common goals together
It leads to better economies because the foreign countries can help strengthen the economies of the other countries with the foreign items that they bring in. With more investors, the countries economies will benefit wherever they invest in
The economic growth in India has increased with an averaging 6.5% a year during that time
Food and Cultures
Peruvian farmers financially benefit from rising consumer demand in richer countries for the grain, as detailed by a study conducted by Marc Bellemare of the University of Minnesota, the local economy strengthens as the success of quinoa farmers who have more purchasing power then buy more products from their surrounding Peruvians.
The phenomenon of globalization is having a major impact on food systems around the world. Food systems are changing, resulting in greater availability and diversity of food in many different countries.
Different types of culinary dishes also spread around the world due to globalization. With the setting of trading posts, foods quickly moved from one continent to another, soon to be found all over the world. Now people in Britain expect to find a Thai restaurant around town.
The world benefits from a global food supply chain and quinoa is a great example to demonstrate this fact.
Trading
Able to import resources to other places in need.
Provides more opportunities for investors and buisnessmen.
Promotes imports and exports.
Benefit developing countries.
Faster growth, higher living standards, and new economic opportunities.
Bad
Globalisation is viewed by many as a threat to the world's cultural diversity.
Child Labor
lack of local businesses
The biggest problem for developed countries is that jobs are lost and transferred to lower cost countries
environment being destroy/ environmental waste
fluctuation of Prices
Unequal rights
lost job opportunities and job insecurity
exploits cheaper labor markets
job displacement