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Flashcards in Globalisation / An integrated World Deck (10):
1

Globalisation refers to

Changing relationships between different world cultures, as well as different world economies

2

What is globalisation

The process by which the world becoming increasingly interconnected as a result of massively increased trade and cultural exchange

3

3 factors that influence globalisation

1) Communications
2) Transport
3) Trade Liberalisation

4

What is the positive and negative effects of globalisation?

∆ Creates more wealth in developing country
∆ Not helping to close the gap between the world's poorest and the richest countries

5

Describe "unfair trade"

MEDC buy raw materials cheaply but sell finished products and services as a much higher price.
High standard of living in MEDC but low in LEDC

6

Define "unfair trade"

People who produce raw materials are paid very little for them but are expected to pay high prices for finished products.

7

What do "multinational companies" do?

Take advantage of cheaper about but bringing employment to poor countries.

8

Why do LEDCs need "International Debt Relief"

Poor countries borrowed money from the World Bank, the UN or the International Monetary Fund to stimulate growth by spending money on their economy.
* But it did not

9

Arguments for Globalisation

1) Better health opportunities
2) Fight for democracy and social justice
3) Make people aware of events in far away parts of the world
4) Improves the skill base of developing countries
5) Raise income and standard of living
6) More mixing of people and cultures
7) More sharing of ideas, experiences and lifestyles
8) Make people aware of deforestation and global warming - alert for sustainable development
10) Encourages ethical trade and corporate social responsibility

10

Arguments against Globalisation

1) Has not improved the position for the world's poor
2) Genetically Modified seed presses on to developing world farmers
3) Leads to low paid sweat shop workers
4) Health and safety is non-existent and enforced
5) Causes countries to sell of state owned industry to companies from MEDC's
6) Takes profits out of the counter and make decision that does not consider local conditions
7) Job losses in industrialised economies - cheap labour in LEDC
8) Threat to the world's cultural diversity
9) Drown out local economies, traditions and languages
10) Demonstration against World Trade Organisation, an inter-government organisation which promotes the free-flow of trade around the world