Critique of globalisation

  • Created by: steloah1
  • Created on: 05-05-22 21:48
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  • Globalisation critique
    • Benefits
      • Growth
        • global trade allows countries to profits from their natural resources and specialist industries, generating wealth.
          • the DRC (in central africa) accounts for 2/3 of the world's cobalt
            • Still suffers from poverty
        • Greater access to money and products improves peoples standard of living
          • GDP per person in China increased by 25.9x in from 1985 to 2014
      • Development
        • Foreign dierct investment brings capital into a country
          • Attract further trade and investment, which leads to further development
            • Foreign direct investment (FDI) inflows to developing countries in Asia rose by 3.9% to US$512 billion in 2018, according to UNCTAD’s World Investment Report 2019
              • the Association of Southeast Asian Nations recieved 39% of global inflows in 2018
          • tiger countries
      • Integration
        • Allows countries to pool their resources to solve global issues
          • The Paris Agreement is a legally binding international treaty on climate change. It was adopted by 196 Parties at COP 21 in Paris in 2015
        • Greater integration of information and people creates a better understanding between people of different backgrounds and cultures
          • Leads to cultural homogenity
            • offset by 'glocalisation'
      • Stability
        • As countries become more interconnected they also become more dependent on one another
          • This discourages any actions that would disrupt global stability, because of the negative consequence on all countries
          • 2008-09 financial crisis triggered by the collapse of lending in the US sub-prime housing market
    • Costs
      • inequalities
        • Out-sourcing moves employment from HIC's to Lics, leading to stuctural unemployment in which skills are no longer useful for the local economy
        • Developed countries have greater access to capital and technology
      • Injustice
        • Improved transport and communication systems have made human trafficking easier.
        • Slave labour
      • Conflict
        • Cyber warfare is a new source of conlict as countries are now dependen on the internet
      • Environmental impact
        • Increased requirement  of transportation = more pollution and greenhouse gas emissions
        • deforestation and overfishing
          • The Amazon Basin has lost 17% of its primary rainforest in the last 50 years – largely due to clearance for cattle ranching
        • race to the bottom - countries and companies ignore environmental impacts to produce cheaper goods.
        • The abundance of cheap products = waste = landfill.


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