Source: Pirie M., 2012, Ten very good things, http://www.adamsmith.org/blog/international/ten-very-good-things-9-globalization
WHY
IS GLOBALIZATION IMPORTANT?
·
Third
world countries get the chance to sell their low cost items to world markets.
·
Brings
lower cost goods to those in richer countries.
·
Workers
in wealthier countries are required to be more efficient so they do not risk
losing their job to other countries.
·
Global
competition increases.
·
Creativity
and innovation are at its maximum.
·
Spreading
of knowledge between countries.
HOW DOES GLOBALIZATION
AFFECT THE PEOPLE?
·
Improved
technology.
·
Improved
transportation.
·
Creates
jobs for those in developing countries.
·
Allows
those in richer countries to spend more money.
WHY IS GLOBILIZATION IMPORTANT?
·
Multinational
countries invest in developing countries; this allows the push up of foreign
exchange.
·
Technical
knowledge is shared around the world.
·
New
inventions and medicines are released.
·
Spreading
of culture is an effect.
·
Education
is shared and adopted in different countries.
·
Legal
and ethical teachings are shared.
·
Governments
are able to work with each other closely.
