Globalisation - Winners and losers of globalisation

7 important questions on Globalisation - Winners and losers of globalisation

What is a race to the bottom?

The process in which competing companies lower both their wages and other standards in order to remain competitive

What kind of job opportunities does a TNC create in an MEDC?

Jobs in the field of research & development, management and marketing

Why doesn't everyone in an MEDC country benefit from globalisation?

Because most of the labour in manufacturing has moved to low wage countries, most MEDC's have lost this employment opportunity
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How can globalisation lead to a better development base for NIC's and LEDC's?

TNC's create jobs in factories in these countries, of which the income is more stable and reliable than in the primary sector, they did this by offshoring or outsourcing large parts of their supply chains to LEDC's and NIC's

Why are the jobs in low wage countries not secure?

Because TNC's can relocate to other countries at any time

What makes cultures around the world less similar?

People deciding to counter outside influences and preserve and express their own culture more than before

Why is globalisation often associated with negative environmental impacts?

It leads to natural resources being over-exploited, it has triggered more manufacturing and more consumption & globalised supply chains require a lot of transport, the transport produces a lot of pollution

The question on the page originate from the summary of the following study material:

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