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Unit 2: Globalisation

Unit 2: Globalisation. The paradox of Globalisation. Globalisation consists of contradictory elements. . Group Mind-map. What is Globalisation? (Definition). How has Globalisation affected your life?. Globalisation. How has Globalisation affected the lives of others? (Impact).

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Unit 2: Globalisation

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  1. Unit 2: Globalisation The paradox of Globalisation. Globalisation consists of contradictory elements.

  2. Group Mind-map What is Globalisation? (Definition) How has Globalisation affected your life? Globalisation How has Globalisation affected the lives of others? (Impact)

  3. Globalisation: Increased connectivity as a result of greater mobility.

  4. Globalisation (in the economic sense) • A process of increasing connectivity and interdependence of world markets and businesses. Economies becoming more dependent on other economies. • E.g. Singapore’s economy is connected to the economy of the US etc. • Sub-prime mortgage crisis in US affecting markets all over the world, due to repackaging of bad debts as investment opportunities. Led to bankruptcy of Iceland. • Has also led to greater mobility of companies. • Companies can easily seek out the cheapest labour and move their operations to that country.

  5. Globalisation (in the social sense) • Greater mobility of people and goods: Shrinking world. Increasing connectivity between cultures from one part of the world and another. • E.g. A Singaporean working in Japan. • E.g. Singaporeans eating sushi in Singapore. • Question: Are we being plugged into a global culture? What is the over-riding influence of this ‘global’ culture?

  6. Pro-globalisation groups • The pro-globalization lobby argues that globalization brings about much increased opportunities for almost everyone, and increased competition is a good thing since it makes agents of production more efficient. The two most prominent pro-globalization organizations are the World Trade Organization and the World Economic Forum. • The World Trade Organization is a pan-governmental entity (which currently has 144 members) that was set up to formulate a set of rules to govern global trade and capital flows through the process of member consensus, and to supervise their member countries to ensure that the rules are being followed. • Emphasises the importance of FREE TRADE. (i.e. reducing barriers to trade, such as tarriffs.)

  7. Anti-globalisation groups • The anti-globalization group argues that certain groups of people who are deprived in terms of resources are not currently capable of functioning within the increased competitive pressure that will be brought about by allowing their economies to be more connected to the rest of the world. (These are the LOSERS in Globalisation) • Important anti-globalization organizations include environmental groups like Friends of the Earth and Greenpeace; international aid organizations like Oxfam; developing world government organizations like the G77; business organizations and trade unions whose competitiveness is threatened by globalization like the U.S. textiles and European farm lobby, as well as the Australian and U.S. trade union movements.

  8. Is it true that only the developed countries benefit from globalisation and that the developing nations are being exploited? Read Doug Thoms and Krishnan Mike and Sophia http://news.bbc.co.uk/2/hi/talking_point/6342515.stm

  9. Who are the winners and losers of globalisation? Is there an outright winner? What about the common man? Has he benefited, or has he suffered loss as a result of globalisation?

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