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Affect of Globalisation - Coggle Diagram
Affect of Globalisation
Impact on employment
Positive
Jobs created in export-oriented and high tech sectors
Importance of active labour market policies
Negative
Job losses in import sectors
Unemployment in transistions (workers displaced by trade or tech find it hard to change industries)
Geographic concentrationof gains and losses
Factors
How does this affect International labour market
Increased demand for high skilled labour
Wage polarisation; high wages rise while low wages remain stagnant
Greater labour mobility
Uneven Low skilled remain concentrated in ine area
High skilled workers freedom to move around
Pressure on labour standars
Environment
Positive
Availability of cleaner technologies and environmental standards through trade agreements
Potential for greener growth and accelerated renewable energy adoption
Negative
Incresed pollution and emmissions
from extraction
Relocation to countries with weaker environmental regulations
Global supply chains increase ecological footprint
Need for international environmental
governance
Financial stability
Greater capital movement increases mobility
Integration increases contagen risks
Need for stronger macroprudential regulation
Benefits include cheaper capital and more investment
Tax base erosion and profit shifting
Development
GLobalisation accelerates growth in developing countries
Reduction in between-country inequality
in-country inequality rises
dependance risks
Technology transfer and capacity building
Need for inclusive development strategies