What is globalisation?
Globalisation refers to the worldwide expansion and mobility of goods, communication, labour, services and technology on a global scale - making more resources easily accessible throughout the world at a faster rate.
What types of globalisation are there?
Economic globalisation, Cultural globalisation, Political globalisation, Technological
What are the pro-globalisation arguments?
  • provides worldwide markets for companies
  • greater access for people to products and services
  • politics is merging and decisions being made are now becoming more beneficial for everyone all over the world
  • more social and cultural tolerance has developed and society is becoming more open and diverse
  • global competition and cheap imports keep prices down so inflation is less likely to affect the economy
  • lowers trade barriers which helps the Lesser Developed Nations trade with the world and also provides opportunities for employment
  • allows ideas to move freely between countries and therefore helps countries around the world develop and progress
  • International trade helps to keep prices low and quality high
  • bringing wealth to poor countries
  • can help to keep peace between countries because of more interest in each other in regards to trade (more to lose if things go wrong)

  • can assist the environment by providing internationally accepted standards that need to be met
  • International Criminal Court
  • international political commitment to world problems like debt relief
  • better access to information to help people fight for their rights
  • countries more open to scrutiny so less likely to be corrupt
  • increased life expectancy

What are the anti-globalisation arguments?
  • loss of jobs due to companies outsourcing work to Asian countries as the cost of labour is much lower there
  • communicable diseases and social degeneration
  • threat of corporate ruling due to mass amounts of power are invested to them through Globalisation
  • recession in one area can easily spread and affect other countries economies
  • exploitation of Lesser Developed Nations by more Developed Nations
  • environmental restrictions slacken
  • companies are opening their counterparts in other countries - results in the transferring of quality of their products to other countries, therefore increasing the depreciation in terms of quality
  • has made the rich richer and the poor poorer in some places
  • countries becoming too economically dependent on each other can have severe consequences if one or more of them collapse
  • manufacturing work being outsourced and local producers unable to remain competitive
  • homogenisation of world cultures?
  • diseases can spread more easily considering how easy it is for people to travel
  • concentration of power into hands of a few
  • conflict over environmental degradation
  • multinational corporations becoming too powerful

Who does globalisation advantage?

Who does it disdvantage?

List some current examples of globalisation:

  • global financial crisis

Not sure where this fits in...

Taken directly from http://www.businessweek.com/2000/00_17/b3678003.htm
Pros
Cons
No country can afford to stay economically isolated
Benefits the rich under the guise of benefitting the poor.
Productivity grows more quickly when countries produce goods and services in which they have a comparative advantage. Living standards can go up faster.
Millions of citizens of developed countries have lost jobs due to imports or production shifts abroad. Most find new jobs--that pay less.
Global competition and cheap imports keep a lid on prices, so inflation is less likely to derail economic growth.
Millions of others fear losing their jobs, especially at those companies operating under competitive pressure.
An open economy spurs innovation with fresh ideas from abroad.
Workers face pay-cut demands from employers, which often threaten to export jobs.
Export jobs often pay more than other jobs.
U.S. employees can lose their comparative advantage when companies build advanced factories in low-wage countries, making them as productive as those at home.
Unfettered capital flows give the U.S. access to foreign investment and keep interest rates low.