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GLOBALIZATION by Mind Map: GLOBALIZATION
3.0 stars - 2 reviews range from 0 to 5

GLOBALIZATION

+ve impact

Social

Increase awareness of foreign culture, allowing people to learn about the history and culture around them via ways like travelling & surfing the Net

Environmental

Increase in environmental protection in developed countries i.e. Singapore; carbon footprints, hence future generations can continue to enjoy high standards of living due to well-preservation of resources

Economical

Percentage of free trade increases among various nations

Increased ability for assets to be converted to cash for capital which is used for allowing investors in developed nations to invest in developing countries., improvement in standards of living

Increase in salaries for the working management industry working for their MNCs or their local competitors. I.e. for the IT literate people, job opportunities are in abundance and lets one lives abroad

-ve impact

Social

Loss of local culture, Global brands i.e.Macdonalds, Star bucks dominate consumer markets in developing countries, creating a homogeneous culture, Spread of pop culture led to differing views of how it has affected youths who gradually lose interest in their own local culture

Enviromental

Environmental Degradation, Deforestation;for development of industries, agriculture,housing & transportation, soil erosion, water pollution, extinction of flora & fauna, increasing in floods, haze due to its speedy method in clearing the forest via burning, results in heavy losses in tourism rate, air pollution, Global Warming, Transportation of goods produces large amounts of greenhouse gases i.e. carbon dioxide, Factories emit large amounts of fumes into atmosphere everyday, leads to increase in avg. global temperature

Environmental Management, Building of dams; hazardous, Acts as barrier between downstream and upstream migratory river animals; causing imbalance in the river ecosystem., Production of greenhouse gas; methane., block made by dam result in downstream erosion and build-up of sediments behind the reservoir

Economical

widening income gap rich and poor, developing countries face trade restrictions put up by developed countries + incapability to produce better quality goods to fetch higher prices +lowly-skilled workers= TNCs finding labor-intensive& low value-added production in poorer nations., lead to social problems i.e. increasing tension, the rich in developed countries continue to prosper due to better opportunities while poor& lowly-skilled face economic uncertainties.