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Globalization - Coggle Diagram
Globalization
What is Globalization?
The process of increased connections between countries in...
Food
Culture
Building Structures
Clothing
Companies
Shops
Trade
Why has Globalization occurred?
Trade
Increased trade between countries caused products of 1 country to reach another, spreading culture. They then might have free trade agreements, encouraging even more trade. This caused globalization.
Labour
MEDC companies go to LEDC countries that have lower labour costs and fewer government restrictions and employ workers whom they can take advantage of by paying low because they might not know their rights as a worker. Despite this being bad, it spreads companies around the world making them international and it includes the poor countries.
Transport
Transportation means such as cargo ships improved causing the cost of transporting goods to drop.
Symbols of Globalization
McDonalds
Hong Kong Banking Corporation (HSBC) {Worlds largest bank}
Amazon
Toyota
Starbucks
Shell
Coca Cola
Google
Ford
Apple
Communication
As technology improves, people begin getting more comfortable traveling around the world knowing their family and friends are a call away. This spreads different people further around the world, which causes globalisation.
Benefits Of Globalization:
Expansion & Improvement of Trade
Trade has increased between countries because technological development has lowered trade costs making it more popular. This makes travel and shipping cheaper, faster & more reliable which encourages companies to increase their trade. Resulting in increased profit from trade which helps the country become richer. People will also have more & better job opportunities & trade also improves the relationship between countries.
Opportunities
Globalization gives poor countries a chance to develop since more money is invested in them by MEDC organizations. It gives poor people decent job opportunities and a chance to develop their living standards & tehcnology.
Low Prices
Globalization helps spread organizations and develop connections between countries. This then results in multiple companies and businesses around the world selling the same products. Therefore this forces the price of many things to be low, making it more affordable to those who couldn't previously purchase the product.
Faster problem solving
Globalization has helped the world respond faster to international problems like the spread of a pandemic. For example, doctors discovered a vaccine for Covid-19 in just over 9 months whereas in previous years it would take decades to even come close. Due to globalization agencies & governments can respond quickly to global problems.
Culture spread
Different films, food, music, clothing, languages, etc can now all be spread around the world so people of different countries can feel at home and welcomed in foreign places.
Globalization develops a countries...
Healthcare
Gives a country access to better skilled people
Technology
Standard of Living
Communication
Costs of production {Lowers costs of production}
Employment {more job opportunities = higher employment}
Gives poor countries a chance to develop
Reduces poverty by increasing employment.
brings skilled people to LEDC {doctors, engineers,teachers, etc.}
Increases knowledge spread
Problems of Globalization:
Cheap labor and land
Rich countries realized they can base their businesses in poor countries to take advantage of their cheap labor & land costs, and fewer government restrictions. This results in transnational corporations like BMW and other car companies outsourcing to poor countries like Mexico using all their resources and paying low wages.
World Trade
Rich countries tend to dominate world trade and become richer at the expense of poorer countries raw material and cheap labour. This results in the rich getting richer at a fast rate and the poor getting richer at a much slower rate. This results in unequal economic growth between the countries.
Unemployment
Rich MEDC countries based in poor countries can put local companies out of business. All profits are sent back to the MEDC country so allowing MEDC companies to take over your country may not be the best choice for poor countries.
Lack of culture
When different cultures interact, they begin to lose their individuality and over generations lose their original language and traditions.
Government
The government in poorer countries may not be strict with their laws compared to those in richer countries. Therefore the environment & workers may be neglected.
Negatives of Globalization are...
An increase in population can make the spread of a pandemic fast & deadly.
Increase in climate change
Uneven distribution of wealth between and within countries. eg.(10% of china owns 67% of it's wealth)
Negative impacts on environment eg. air pollution, climate change, deforestation, etc.}
MEDC's exploit LEDC's
