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Important to Note
So, if you are asked to assess HOW EFFECTIVE globalisation has been you have to ask yourself HOW MUCH INTERCONNECTION AND INTEGRATION HAS TAKEN PLACE BETWEEN PEOPLE, THEIR IDEAS and THEIR ACTIVITIES in DIFFERENT PARTS OF THE WORLD
Examples of Globalization
The Internet Selling local products (e.g. OCK Curry Puff) in the global market (e.g. Malaysia, China, Indonesia, etc) Attending lectures by a British professor teaching in an American University via a web-conference in NUS
Examples of Globalization
People in different parts of the world: Wearing Made in China clothes Driving Made in Japan cars Sipping Australian Wine while watching the LIVE telecast of a soccer match in Germany
Impact of Globalization
1) Economic Impact Improvements in Standards of Living Increased Competitions among Nations
Investment and Market Talent
Impact of Globalization
2) Social Impact Increased Awareness of Foreign Culture Loss of Local Culture
Impact of Globalization
3) Economic Impact Environmental Degradation
Deforestation and Related Problems Global Warming Environmental Management
Impact of Globalization
Economic Good Effects - Improvement in Standard of Living - Competition Among Nations (Investment & Market) Bad Effects -Competition Among Nations (Talent) - Widening Income Gap between the Rich and the Poor Social Good Effects - Increased Awareness of Foreign Culture Environmental Good Effects - Environmental Management
Impact of Globalization
1) Economic Impact Improvements in Standards of Living As countries trade and open their doors to foreign investment, they earn more revenue As a result, their citizens benefit from a higher standard of living Free trade allows for a larger variety of foreign goods for the consumer to choose from Better quality of life
Impact of Globalization
1) Economic Impact Increased Competition Among Nations
Investment and Market
Globalisation means more competition as TNCs source for the cheapest places to lower their cost of production Governments have to compete with each other to attract these foreign corporations to invest When China opened its doors to foreign investment in the 1970s, industrial cities like Suzhou, Wuxi and Dalian were formed
Impact of Globalization
1) Economic Impact Increased Competition Among Nations
Talent
Highly skilled people are in high demand all over the globe Globalisation allows people to move freely from one country to another in search of employment Advanced economies with stable or shrinking populations seek new talent pools Emerging economies seek back their best and brightest E.g. Indias Brain Drain (e.g. Computer)
Impact of Globalization
1) Economic Impact Widening Income Gap Between the Rich and the Poor
Due to rapid development in many countries and the spread of poverty in others Developed countries experience rapid income growth as they own most of the manufacturing activities
Impact of Globalization
1) Economic Impact Widening Income Gap Between the Rich and the Poor
These developed countries and their TNCs are able to attract investments, skilled labour and resources away from poor areas International trade has generated much revenue for them
Impact of Globalization
1) Economic Impact Widening Income Gap Between the Rich and the Poor
However, Developing Countries face trade restrictions put up by Developed Countries They are not capable of manufacturing better quality goods that fetch higher prices Poorer nations are only attractive for labourintensive and low-cost ventures
Impact of Globalization
1) Economic Impact Widening Income Gap Between the Rich and the Poor
The rich developed countries prosper with better opportunities while the poor developing countries face economic uncertainties like retrenchment Widening income gap can lead to social problems, increasing tension between the rich and the poor
Impact of Globalization
2) Social Impact Increased Awareness of Foreign Culture
Travel, the Internet, mass media (products of globalisation allow you to learn more about foreign culture
Impact of Globalization
3) Environmental Impact Depletion of natural resources by TNCs Concern over profits vs. protection of the environment Lack of funds to implement environmental protection Environmental Degradation
Deforestation and Related Problems Global Warming Environmental Management
Impact of Globalization
3) Environmental Impact Environmental Degradation
Deforestation and Related Problems
Rainforests cut to make way for development Rainforests cut down for industries, agriculture, housing, forestry, cattle ranches Planting of cash crops Projects to achieve higher level of economic development
Impact of Globalization
3) Environmental Impact Environmental Degradation
Deforestation and Related Problems
Soil erosion, extinction of flora and fauna, flooding and haze Loss in tourism (haze) Water pollution
Impact of Globalization
3) Environmental Impact Environmental Degradation
Global Warming
Large amount of greenhouse gases produced by increased usage of airplanes and ships Factories and transportation also emit greenhouse gases, contributing to the increase in world average temperature.
Environmental Management
Greater awareness Sustainable development is the key to further growth Source for alternative energy
Spread investment across the world allows for Singapores growth to be maintained even if markets and investment opportunities in one country / region is weakened
Why Karnataka?
Strategic Location
Karnataka
Encourages Government Foreign Investment and Supports Businesses
Supportive
Skilled Manpower
Skilled IT Professionals