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Globalization - Coggle Diagram

- - - - Governments: Governments must grapple with the challenges of maintaining national supreme authority while participating in a globalised world. They may need to cede some degree of decision-making authority to international organisations and agreements on issues like trade, environment, and human rights.
      - Political Leaders: Decisions about how to interact with the global economy and global governance must be made by political leaders. Their choices could have a significant impact on both domestic and global economies. As a result, concerns related to globalisation, such as trade agreements and immigration, can be crucial in election campaigns, affecting voter preferences and political outcomes. Additionally, they engage in diplomatic activities to forge ties and bargain global accords that serve the interests of their nations.
    - - Individuals: Globalisation has the potential to offer new job opportunities through greater international commerce and foreign investment. Furthermore, individuals may pursue better career possibilities in foreign nations, either through skilled migration or temporary work programmes. However, when certain industries encounter foreign competition, it may result in job displacement. Furthermore, job displacement can lead to income inequality since individuals with skills in high demand in the global market may enjoy salary increase while others endure wage stagnation or job insecurity.