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Globalization - Coggle Diagram
Globalization
Definition
trade
Interconnectedness
investment
culture
technology
Driving forces
Technology
Internet
digital communication
transportation
Trade & investment
free trade
multinational corporations
Labor & capital
migration
foreign investment
Economic Liberalization
open market
deregulation
Pros and Cons of Globalization
Pros of Globalization
Access to New Markets
Spread of Knowledge and Technology
Enhanced Global Cooperation and Tolerance
Promotes Economic Growth
Cons of Globalization
Increased Competition
Exploitation of Labor and Resources
Imbalanced Trade
Domestic Job Loss
Effects
Developing countries
Positive effects:
Creats jobs
Foreign investment, attracts FDI
Transfer technology
Negative effects:
Become dependent
Inequality between wealth and poverty
Industrial country
Postive effects:
Increased Trade and Exports
Cost Reduction
Negative effects:
Impact on environment
Inequality