Impacts of Globalisation (evaluation) Flashcards Preview

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Flashcards in Impacts of Globalisation (evaluation) Deck (18)
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1

how does globalisation benefit the economy in MEDCs

easier flows of capital
free trade- encourages trade between countries and makes us more interdependent
brand recognition
trade blocs- no trade tariffs

2

how does globalisation benefit the economy in LICs

investment in LICs- increase in country's wealth
fair trade and fair trade premium

3

how does globalisation benefit society

easier to communicate with people globally
increase in knowledge of other countries
media coverage- draws world attention to human rights violations
improvement of infrastructure and services in LEDCs due to investment

4

political benefits of globalisation

interdependence means there are better political relations between countries - we won't go to war with countries we rely on for goods
protection of the commons
trade agreements

5

(+) how many people use the internet

3 billion

6

(+) how much was paid in fairtrade premium to producers 2013-14

106.2 million euros

7

(+) how many countries are in the Antarctic treaty system

53

8

(+) how much did shell pay in royalties and corporate tax to the Nigerian government in 2016

$1.4 billion

9

(+) what percentage of UK exports go to EU countries and what does this show

50%
importance of free trade and trade blocs in maintaining the economy

10

how does globalisation negatively affect society

relative poverty (exploitation of 3rd world countries)
terrorism (more media coverage=more terrorism as more media coverage)
exploitation of the environment (shell in Nigeria)
threatens people's sense of place - cultures can be dissolved in favour of westernised approach

11

how does globalisation negatively impact the economy in MEDCs

outsourcing (example of Foxconn in China)- loss of manufacturing jobs in MEDCs- multiplier effect in third world countries and de multiplier effect in MEDCs

12

how does globalisation negatively impact the economy in general

trade deficits
corporate domination
trade blocs - some countries excluded

13

how does globalisation have negative impacts politically

interdependence- if one economy fails the whole world suffers (eg Great Depression)
unequal distribution of power in bodies such as the UN (eg Big Four able to veto legislation)

14

(-) in 2011 what percentage of American media was owned by 6 companies

90%

15

(-) how many suicides had occurred at Foxconn by the end of 2010

14

16

(-) in 2016 how large was the trade deficit from the UK to China

£25 billion

17

(-) how long will the Ogoniland environment take to recover from 2 large oil spills in 2008 and 2009

30 years

18

(-) what did humans do between 1950 and 2000 which shows our increasing consumer based economy

humans consumed more of the world's natural resources than during its entire previous history