Definition of globalisation
When countries are interconnected with each other because of trade, new technology, advanced transport and communications
What are TNCs
TransNational Corporation It's is when countries have become industrialised Wages are often lower They have helped spread globalisation They save money by working people harder
Human factors to why TNCs have invested in Asia
Large population which means more workers
Well educated
They can speak English
Good relationships with other countries
Physical factors to why TNCs have invested in Asia
Close to shipping areas
They don’t often suffer earthquakes and volcanoes
Good location for trade near other countries
The Asian tigers
Hong Kong
Singapore
Indonesia
South Korea
What are NICs?
Newly Industralised countries
India and China and Indonesia
What are BRIC?
Countries that have developed really quickly: Brazil Russia India China
Advantages of TNCs
- The provide the country with opportunities to trade with other TNCs and countries
- They give job opportunity
- Wages earned goes into the local economy
- They might improve the natural environment
Disadvantages of TNCs
Low pay to workers Working bad conditions Co2 emissions into the atmosphere Workers work for long hours for low pay Accidents as health and safety laws aren't strict
Impact of globalisation on the rest of the world
Advantage:
- wide range of cheap products
- improved interconnections with other countries
Disadvantage:
- increased climate change from transporting goods worldwide
- some countries are left out of investments from TNCs
- job losses in developed countries
Impact of Globalisation in Asia
Advantage:
- improvements in standards of living
- improve infrastructure ( roads, airports)
- job opportunities
Disadvantage:
- Loss of individual culture
- exploitation of workers
- damage to the environment
- over reliance on TNCs
