Gloabalisation Mindmap
- Created by: sineoz123
- Created on: 01-06-16 07:06
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- Globalisation
- Def: increasing economic, financial, trade and comm. interactions and relations
- enabled by: technological advancementstrade liberalisation and ease of transport
- People have more choice, increased competition, competitive prices
- Joint ventures by MNCs with foreign companies
- Helps the local economy, MNC can be seem ethical towards the locals
- Living standarrds increase
- If there isn't a joint venture, MNC can dominate the local market
- Helps the local economy, MNC can be seem ethical towards the locals
- FDI for countries with potential and stable exchange rate(preferably valuable)
- Def: Foreign ownership or a productive asset
- Also skills transfer happens, labour becomes more productive
- Increased Exploitation as well
- Specialisation also made possible
- Structural change also takes place - some industries shrink and unemployment might increase
- Some countries do not benefit - because of trade blocs, trade divesion happens
- The poor can get poorer
- Environmental problems would increase
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