Globalisation

As usual Click to enlarge.

Key Driving Forces

Transnational Corporations [TNCs]

-are large global firms that operate in a number of countries
-have productions or services facilities outside the country of their origin
-These worldwide corporations are coordinated and controlled by headquarters located in the country of origin.
-Example Microsoft Corporation and Toyota motor.
-As a result, the world becomes more interdependent and interconnected

Transportation

-Modern commercial jet aircraft ,large ocean going vessels, efficient and integrated transport infrastructure.
-Example Airport , Railroads and highways
-Increased the movement of goods and people from one place to another
-As a result, improvement in transportation technology has shrunk the world
-Considerably in terms of time taken to travel from a place to another
-This allowed people,goods and activities to become interconnected more easily which leads to globalization

Communications

-Improvement in technology has made communications among people in different locations faster and more convenient
-Example, People from across the globe can communicate easily by telephone, email, fax and video conferencing
-Satellite technology has enable message to be transmitted from one location and receive in another part of the world almost instantly
-As a result, communication among people in different locations becomes faster and more convenient.
-This allowed people, their ideas and their activities in different parts of the world to become more interconnected which leads to globalization


Impacts Of Globalization

Economic Impact


↑ competition among nations

Government are competing with TNCs to invest in their countries

countries offer tax incentives, tax rebates and duty free trade to attract the TNCs

More TNCs shifted to China from Singapore ,Taiwan and Korea

With Globalisation, People are able to move from country to country .

People who are highly skilled in are in high demand.

Globalisation has presented the workforce with the opportunity to find employment in another country.

TNCs are searching for lowering cost of production

China has become an attractive country for foreign investors

poses a strong challenge to other countries in the region

therefore, through economic impact of globalization, there is an increased competition among nations for TNCs

↑ in Standard of Living

With trade and foreign investment, it increases revenue.

with free trade, this also led to expansion of existing industries and establishment of new business

to meet the demand for goods and services

the population can enjoy better quality products and services

therefore higher standard of living.

With revenue earned, the government can spend on quality public goods

Free trade has also allowed consumers to purchase a variety of foreign goods beside local goods.

increase in lifestyle choices → better quality life

Therefore, through economic impact of globalization, the standard of living has improved

Widening income gap

DCs are experiencing rapid income growth

because they own most of the manufacturing activities

Many TNCs are from the DCs in North America and Western Europe

On the other hand, LDCs often face trade restrictions put up by DCs

They are not as capable of producing better quality good that fetch higher prices.

Globalization has not only resulted in rapid development in many countries

it has also contributed to the spread of poverty in many other countries

Therefore, through economic impact of globalization, it led to widening income gap between the rich and the poor.

Social Impact. [More , less local food]
Increased awareness of foreign culture

People are exposed and are more aware of different culture

this is made possible through traveling,surfing the Internet and watching foreign movie from the comforts of their homes.

As Singapore has many foreign workers, they also brought along their cultures here

This is made possible through globalization

Many countries are more opened and people are well-travelled

Therefore through social impact of globalization, it led to increased awareness of foreign culture

Increased awareness of foreign culture

Globalization has resulted in global brands such as Starbucks and McDonald

Dominating the consumer market in DCs

These corporations with their standardized methods of operations have outlets that are identical in appearance

In this way, these corporations have created a homogeneous culture across the world and eroded the local culture

Many people are uncomfortable about the advancement of foreign culture

The loss of local culture poses a serious problem to the country

culture eroded is difficult to re-create

Therefore, through social impact of globalization, the local culture will be lost.

Environmental Impact
I made a mistake in the mind map. Deforestation, Degradation and Global warming are all one point. sorry.Environmental Degradation

Rain forests in many countries have been cut down to make way for the development of industries, agriculture, housing and transportation.

Some governments allows trees to be cut down at a rapid rate as economic activities can generate revenue for the country

such as forestry, mining and cattle ranching.

The clearing of forest has resulted in many environmental problems

such as soil erosion, extinction of fauna , increasing in flooding as well as haze.

The haze arises out of the practice of clearing the forest through burning

it is done as it is the cheapest and fastest way to clear a forest

↑ in haze, ↓ in number of tourist, ↓ in revenue

Another Example is the Three Gorges Project in China.

Launched in 1994, to build a dam across Yangtze River to generate electricity and ensure flood control

With China's rapid industrial development, the dam will be an important source of energy for the country's growing electrical consumption.

However, The Project has created problems such as erosion,extinction of flora and fauna and water pollution

Environmental degradation poses a serious problem to the countries concerned as well as to the rest of the world.

Globalization has also worsened environmental problems such as global warming

Therefore through environmental impact of globalization, it led to environmental degradation

Environmental Management

Although Globalization has brought about an increase in environmental degradation,

it has also brought about an increased awareness of environmental management.

The amount of energy required by a globalizing world is enormous

We need to sustain supply of power through conservation

However conservation alone cannot meet the challenges of supplying the vast quantities of energy needed for development.

Alternative energy sources such as wind,solar and geothermal power can provide some of the energy needed.

Countries are aware that sustainable development is the key to further growth.

When resources are well preserved, future generations can continue to us to generate income.

Therefore through environmental impact of Globalization, it led to increase in awareness of environmental management.