Globalisation critique

• Benefits of Globalisation

  • integration of economies, people etc
  • economic, social, political development
  • economic growth through trade
• Costs of globalisation

  • inequalities
  • political conflicts
  • injustices
  • environmental degradation
• Economic growth and development

  globalisation has lifted millions out of poverty by creating jobs and improving conditions - particularly in NEEs

  Technology transfer and innovation promote efficient resource use
• Global governance and cooperation

  agreements like the Paris accord show that globalisation can achieve a collective action on sustainability and can be used for good

  supply chains are also focusing more on fair trade and ethical sourcing to minimise inequality
• Environmental degradation

  increased trade and production results in deforestation, pollution and greenhouse gas emissions

  fossil fuel consumption for transport and industrial use
• Inequalities

  LICs bear the social costs while developed nations grow their wealth, TNCs exploit weak worker regulations in poorer countries