Globalisation: Costs of globalisation and Evaluating the net impact of globalisation

Overview

Recall questions on Costs of globalisation and Evaluating the net impact of globalisation.

What you need to know

Answer each one before you reveal it.

Questions from this subtopic

Each one with the model answer underneath.

1. 1

   How has globalisation affected income inequality?

   Model answer

   Globalisation has been linked to rising inequality within many countries, as skilled workers and owners of capital gain most, while inequality between countries has narrowed since about 1990 as China, India and other emerging economies grew faster than rich ones.

2. 2

   Why might globalisation lead to environmental degradation?

   Model answer

   Production may shift to countries with weaker environmental regulations, increasing pollution and environmental damage.

3. 3

   How can globalisation result in a loss of national sovereignty?

   Model answer

   Countries become more interdependent and subject to external economic shocks, reducing their ability to control their own economic outcomes.

4. 4

   What cultural costs are associated with globalisation?

   Model answer

   Cultural homogenisation and loss of local traditions and industries as global products and practices replace local ones.

5. 5

   How might workers in developing countries be negatively affected by globalisation?

   Model answer

   Workers may be exploited through poor working conditions and low wages as multinational corporations seek to minimise costs.

6. 6

   Why does globalisation increase vulnerability to global economic crises?

   Model answer

   Interconnected financial systems mean that economic problems in one country can quickly spread to others.

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