Successful at promoting global peace and cooperation
Led to climate change progress e.g. Kyoto protocol, sustainable development goals
Institutions
Benefit HIC's more than periphery nations
IMF and World Bank
Often run by core nations and often have a vested interest beneath their actions
Periphery nations
Exploited for national resources and cheap labour
Fair trade
Helped to reduce poverty and injustice in the world
In 2016, fair trade helped 1.66million farmers worldwide
96% of Colombian workers gave experienced improve t to livelihoods since fair trade came into effect
Global communications
Helped raise awareness of global issues which has increased aid flows across the world
Increasing flows of people and goods to regions such as Antarctica
Having detrimental effects on the environment
Leaching of chemicals such as HBCD
Impacting on habitats and species such as the Adeline penguin
TNC's
Highly beneficial
In 2017 $1.34 trillion was invested through FDI
McDonald's employs 375,000 people (more than icelands population) which will likely lead to a positive multiplier effect
They are bringing new products to a wider market
Pollution and air quality
Become an increasing concern due to industrialisation and transportation
15% of CO2 emissions
Attributed to the transport section
CO2 emissions
Can contribute to ozone depletion and increase health risks e.g. cancer and respiratory conditions
Containerisation
Enabled shipping to become far more efficient and allowed businesses to benefit from economies of scale
Encouraged outsourcing of manufacturing to developing countries
Inequality
Resulted in increased global competitiveness
Ethiopia
Largest exporter of coffee and Starbucks TNC has contributed to exploitation of both labour (25 hour shifts below minimum wage) and earning $90 million less than what they should be paid
WHO and other organisations
Formed as a result of globalisation
Distributed 2 million vaccines, eradicated smallpox, decreased malaria by 60% helping to save millions of lives
Enabled developing nations to access health services when they would otherwise be unaffordable
Membership of nations to organisations and initiatives
Unaffordable and exclusive
To be a fair traded farmers
Costs $3000 per annum and the effectiveness of these schemes is not clear (of 25p banana, the farmer only sees 1.4p)
Antarctic research
Hugely beneficial to the study of climate change
The activity of the British Antarctic survey actually operates in a very environmentally conscious way and limits waste production
Interconnect news
Increased demand for resources
Overfishing
52% of global fish stocks being depleted e.g. cod industry collapse near Newfoundland
Deforestation
17 football pitches lost per minute, reducing biodiversity and 1.6 million people directly rely on these forests
Oil reserves
Being increasingly exploited leading to global warming
World Bank
Helped many nations with aid and disaster relief
$500 million loan was given to Tunisia to help them bounce back from a devastating economic crisis
WTO
Ensures trade barriers are removed and helps resolve disputes between conflicting nations
The process of globalisation brings more social and economic benefits than drawbacks for developing nations
Globalisation is the process by which nations are becoming increasingly interconnected politically, economically and culturally through increasing global trade networks, communication and migration
As a result of increased global interdependence 1 billion people have been lifted out of poverty globally since 1990
Pros of globalisation
Economic growth (TNC's, trade blocs, reduction in poverty, remittances)
Governance (Antarctic treaty, UN – world bank, Paris agreement)
Cons of globalisation
Inequality/exploitation (Apple – Foxconn, EU, banana industry - fair trade)
The evidence presented suggests that the process of globalisation brings more inequality for developing nations
This is a result of the core nations having/utilising their power and influence over developing nations; to exploit them for their benefit
Although globalisation can reduce extreme poverty and increase standards of living the issue of inequality still presents itself through a majority of the population still being in poverty
With the rate of globalisation continuing, and a rapidly increasing populations, the likelihood of economic inequality and exploitation diminishing is slim