geographical consequences of globalisation

Who are the main beneficiaries of globalisation

Newly industrialising coutrnies, TNCs, international organisation, regional trading blocs

How do newly industrialising coutrnies benefit form globalistation

MICs have developed rapidly as a result of inward investment and have emerged to become major economic powers competing with richer developed regions of the world

How do TNCs benefit from globalisation

Have grown in number of different industrial and service sectors, TNCs room emebregin coutrnies have become glboal powers

How have international organisations benefitted from globalisation

IMF, WB andWTO all contribute to globalisation of eocnomcis and consolidated their position in control of world affairs

Costs of free trade

Not giving protection to emerging industries in developing economies, more developed economies are protected by tariffs against agricultural imports, explpotioon of workers, diseconomies of scale as a result of difficulties coordinating subsidiary companies

Benefits to free trade

Lower price for consumers, greater choice, access to larger, wealth markets, greater economies of scale through increased specialised, greater foregin competition may weaken domestic monopolies , TNCs have access to cheaper raw materials, competition= greater innovation

Negative impacts of growth and development in developing coutrnies

Leakage of ports, low pay by TNCs, inequalities in incomes increase, tax breaks/avoidance by TNCs, local produces succofated by foreign market and investment, over specialisation in 1 industry means they rare vulnerable to changes, too reliant on TNC investment

Benefits to growth and development in delveopign countries

Incentives to specialise, diversification of economy, creation of jobs which increases taxes and spending, hig value exports, investment brings improvement to infrastrucutre, transfer of skills, tech and capital

Economic consequences → international trade

2015, top 10 fastest growing economies all in Africa and Asia, developing coutrnies in Asia, Africa, Latin America are now some of fastest growing economies

economic consequence → risk of ecnomic interdependent

One of most significant disadvantages of globalisatio, negative economic shoc in 1 coutnry will quickly pread to others particauly if affects banking system → 08/09 crash initiated by colapse of lending in us sub prime housing market

Social/ cultural consequences of globalisation

Increased awareness of global news events, TNCs have adopted globalisation, overstandardistion of many goods has led to increase cultural homogeny, globalisation has allowed greater sharing of ides, lifestyles and traditions

How has globalisation allowed greater sharing of idea, lifestyles and traditions

Technologuic, people have greater access to foreign culture ef clothing, food, music and films

How can increased awareness of glboal news nad events be positive and negative I

Positive → inform people of current issues, negative → use as progpangnda for terrorist organisation

How is overstandardisation causing cultural homogeny

Access to foreign cutlties is causing districting between coutrnies to fade, dimsinges word to 1 corporate identity, damages individual trad ions

Environmental problesm with globalsiotn

Glboal Lipton focussed on economy not environments, puts pressures on finite resource

Environmental problems:

Greater movemnt introduces invasive species, depletion of non renewable resources, IMF enforced spending cuts reducing nations spending on Environemtnal, more packaging waste,r weak or non existent pollution controls, TNCs outsource to where evnionrmetn standard are less strict, increased trasnport= more ghgs