Globalisation

Question 1

Definition

Answer 1

Globalisation refers to the way people and places across the world have become closely
linked together. This has occured due to growing global connections, interdependence and flows of
capital, commodities, migrants and tourists.

Question 2

Recent Acceleration

Answer 2

Globalisation has recently accelerated, creating new opportunities for businesses and
people. Although inequalities are caused, globalisation has still increased the flow
of ideas, goods and services, creating a global community.

Question 3

TNCs

How have they accelerated Globalisation?

Answer 3

• TNCs have influenced global culture (McDonaldisation)
• Improved local economies by providing job opporyunities.
• Appeal to local markets (Glocalisation), specially designed products, The Maharaja burger in indian McDonalds
• Created new markets, taken advantage of economic liberalisation by offshoring and outsourcing