Gloablisation - Advantages and disadvantages of globalisation Lecturer - Dr. Lucy McCarthy PDF

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Advantages and disadvantages of globalisation
Lecturer - Dr. Lucy McCarthy...

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Globalisation Advantages! Spreads democracy and freedom - democracy is a western conflict and doesn’t always work eg Brexit and Trump - if you destroy their economy youre destroying your own - spreading western norms in terms of how business is done! Reduces military conflict - countries still go to war ! People get to travel - human trafficking and slavery has increased ! Disadvantages ! Loss of national sovereignty (power to do what they want as a nation) - EU means must larger collective and has more power to negotiate than UK alone has now after Brexit - economic influence has lessened ! Undermines democracy - businesses are now more economically well off than some countries one person could have more influence than whole country. MNE’s can work through legal loop holes - offshore bank accounts etc…! Institutions mostly initially funded by western countries so argument could be western countries have more power / influence on how money is distributed and what for ! WTO promotes lowering of trade barriers - benefits larger economies more than weaker nations bc it allows western nations to flood the market of weaker nations ! Eg, uk could stop providing money if it is used by another country which could damage the UK economy - Angola setting up a tire business ! UN political power is up for debate eg. USA example ! Global institution functions and globalisation pros & cons - potential exam questions...