Please enable JavaScript.
Coggle requires JavaScript to display documents.
Globalization - Coggle Diagram
Globalization
Advantages
Ecomomic Growth
Access to new markets
Increase in investment opportunities
Diversification of economic activities
Cultural Exchange
pread of diverse cultures and ideas
Promotion of mutual understanding and tolerance
Access to a variety of cultural products (art, music, film)
Technological advancement
Faster innovation due to global collaboration
Widespread access to new technologies
Improvement in communication and transportation
Living standards
Access to new products and services
Job creation
Increase in income and wealth
Knowledge sharing
Exchange of ideas and best practices
Access to global expertise and talent
Enhancement of education and research
Disadvantages
Income inequality
Widening gap between rich and poor
Exploitation of cheap labor
Loss of jobs in developed countries
Cultural homogenization
Loss of local cultures and traditions
Spread of a dominant global culture
Erosion of cultural diversity
Environmental degradation
Over-exploitation of natural resources
Increase in pollution and greenhouse gas emissions
Loss of biodiversity
Economic vulnerability
Dependence on global markets
Susceptibility to global economic fluctuations
Instability due to speculative capital flows
Social and political challenges
Spread of diseases
Increase in human trafficking and illegal migration
Challenge to local governance and sovereignty