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Impacts of globalisation - Coggle Diagram
Impacts of globalisation
Benefits
Integration
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greater integration of information and people creates a better understanding of different cultures/ backgrounds
Stability
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discourages actions that would upset global stability, due to negative consequences for all countries
Development
FDI brings capital into a country - used to improve education & infrastructure - attracts further trade and investment - further development
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Economic growth
participation in global trade allows countries to profit from their natural resources & specialist industries - genereating wealth
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Costs
Inequalities
companies move low-skilled jobs to less developed countries, so low-skilled worker in developed countries find it more difficult to earn money
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developed countries have greater access to capital & technology - have an advantage over less developed countries - increases inequalities between countries
Conflict
developed countries have intervened in conflicts to secure access to natural resources, like oil
Cyber warfare (new source of conflict) - dependency on the Internet means attacks on computer systems have a large impact
Injustice
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many people in less developed countries have to work in sweatshops to make products for people in developed countries
Environment
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Overfishing and Deforestation occurs to gain access to resources e.g. clearing rainforests for palm oil plantations
global trade leads to a 'race to the bottom' where environmental impacts ignored to produce cheaper goods
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