Globalization Flashcards
What is Globalization?
The process by which the world is becoming increasingly interconnected as a result of increased trade and cultural exchange.
Positive impacts of globalization!
better + cheaper products
cultural exchange- sharing of ideas, cultures, lifestyles
technology improvement
better transport
communication facilities
international trade
people is more aware of global issues
Negative Impacts of globalization
harm the environment. (pollution)
dependance on other countries
job insecurity : creates jobs for people in developing countries who are then exploded by bad job conditions and low wage
mix of cultures can lead to loss of identity
gap between rich + poor increases
Negative Impacts of globalization
harm the environment. (pollution)
A majority of big industries prefer cheap labor people in a skilled and unskilled category will go for the job in developed countries
Globalization is viewed by many as a threat to the world’s cultural diversity. It is feared it might drown out local economies, traditions and languages
Wheat crisis
Wheat is a grain and is a main ingredient of many foods
War = Impossible to cultivate
The world can no longer rely on Ukraine and Russia for their imports of wheat and other raw materials so they are now trying to make up for an expected shortage.
These countries are trying to replace wheat but this could mean transportation delays or an increase in shipping costs. Some countries that do produce wheat, are selling it at costs way higher than Russia and Ukraine.
This rise of prices can cause an immense impact on millions of people in the middle east and north of Africa and any other part of the world who live in poverty.
Sunflower oil crisis
free trade
an international trade were no tarrifs or other restrictions are found
Countries are able to trade relatively freely with one another, selling as much as they want without limitations.
importing and exporting as many goods and services as they wish
fair trade
An arrangement designed to help producers in growing countries achieve sustainable and equitable trade relationships.
