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the processes and impacts of globalisation - Coggle Diagram
the processes and impacts of globalisation
Political
Some TNCs, like News Corp (which owns Fox News in the USA) seek to influence how people think. News Corp also owns Sky TV, the Sun and Times newspapers. UK politicians have been known to seek its support to influence voters’ opinions.
International political organisation have expanded to promote economic growth e.g. the EU, the G8/G20.
TNCs and international political organisations can influence national governments. These governments can sometime lose the ability to control the payment of taxes by TNCs.
Many trade barriers (e.g. tariffs and quotas) have been reduced or removed to liberalise world trade.
Political actions by non-governmental organisations and social movements, concerned about various topics such as environmental protection, is another example. such as an organisation like green peace.
Communication and information
Lower transport costs allow increasing long distance tourism.
Cheaper global phone networks, increasing mobile phone usage, and fast fibre-optic internet connections allow increasing exchanges of information, opinions and ideas by email, social media and news networks (e.g. BBC World).
A ‘global village’ is emerging, with common interests in sport, music and films. Social media have no political or social boundaries.
Music, TV and film are seen and heard in almost every country. Brands such as Top Gear and versions of Strictly Come Dancing are now popular worldwide.
Population
Those with skills in management, finance and IT move around the world to where they are most in demand.
Economic migrant labour flows to areas with higher incomes and higher rewards.
Financial
Global capitalism is spread by large TNCs – some with incomes even larger than the GDPs of many countries.
The cheaper labour in developing economies supplies consumers in wealthier nations.
Trillions of dollars are exchanged globally by electronic means every day (in payments, loans, share purchases and debts).
Consumer prices have fallen globally (a ‘race to the bottom’).