Economic Globalization
What are the primary benefits and drawbacks of economic globalization for developing countries?
Benefits- The economic growth in developing countries is expediential as it allows countries with an abundant amount of resources to profit and get resources with finite availability
Drawbacks-Income disparity is a huge problem as it creates an unequal distribution of money between individuals or groups, missing out on economical opportunities.
How has globalization affected labour and employment?
Globalization has greatly affected labour as; it provides new jobs which also affect the economical state of the world as well.
What is hybridization?
The coexistence of multiple cultural identities, often as a resistance to global influence.
How does economic globalization impact labour markets and employment opportunities?
Positive-Globalization can lead to new jobs in import and export-oriented sectors increasing trade and income for developing countries.
Negative-Workers need to adapt to new skills as technology and techniques advance.
What are the ethical implications of globalization, particularly in terms of labour rights and environmental stability
The ethical implications of globalization, specifically affect labour rights and stability within the workforce as it often leads to worker exploitation.
What is the impact of cultural globalization on local cultures?
The influence of global cultural elements on local traditions and customs.
What is the primary definition of economic globalisation?
Economic globalisation is the international movement of goods, capital, services, technology and information.
What is a positive and negative impact of globalization on society?
Positive- Globalization is generally perceived as beneficial for developing countries.
Negative- Globalization negatively impacts individual workers as the rich get richer and the poor get poorer
What is cultural homogenization?
The process by which cultural elements become more uniform and similar across different cultures.
Describe the main difference between offshoring and outsourcing in the context of globalization.
The main difference lies in the location as, offshoring mainly happens in another country whereas, outsourcing can be located locally or internationally.
What role does technology play in the process of globalization?
Technology plays a crucial role by enhancing communication, facilitating trade, and fostering cultural exchange, ultimately creating a more interconnected world.
What role does technology play in cultural globalization?
The role of technology in facilitating the spread of cultural ideas and practices.
Describe how a global commodity chain contributes to economic globalization.
It contributes by expanding the movement of resources to further interconnect different producers and consumers around the world.
How has globalization influenced cultural exchange and diversity?
Globalization has influenced cultural exchange and diversity in several different ways such us: Increased Interconnectedness, Cultural Homogenization, Technological Facilitation, Erosion of Local Practices, and Challenges to Diversity.
What is cultural imperialism?
The dominance of one culture over others, often leading to the spread of Western values and lifestyles.