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GLOBALIZATION - Coggle Diagram
GLOBALIZATION
Disadvantages
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- eroding cultural identity
- Over-tourism can lead to conflicts over resources like clean water, housing, and public spaces.
Tax Evasion:Globalisation also enables capital to flow freely across borders, while this has undoubtedly facilitated global trade and investment, it has also created opportunities for corporations to exploit tax loopholes and engage in tax evasion practices
- Many multinational corporations (MNCs) register in low-tax countries to reduce tax obligations.
- Not always be illegal, but it means they don't pay their fair share in the countries where they make profits.
- Low-income countries lower tax rates to attract investment and create jobs.
- The wealthy end up paying less tax, widening the wealth gap.
Interesting
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What is sovereignty? It is the concept that defines a nation's inherent right to govern itself without any external interference.
- international organizations: often create rules and norms that member nations are required to abide by, sometimes overriding their domestic laws and policies
- emergence of democratic deficits: In the globalized world, economic power has become increasingly concentrated in the hands of large multinational corporations and global financial institutions.
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Advantages
Global Health - Globalization has improved global health by enabling the rapid exchange of medical knowledge, and resources during health crises. It has also facilitated the distribution of vaccines and medicines.
Economic Growth: One significant advantage of globalization is its capacity to drive economic growth.
Cross-Cultural Management: refers to the practice of effectively managing and leading people from diverse cultural backgrounds in a multinational or cross-border business environment.