1. Economic health
1.1. Growth
1.1.1. +ve
1.1.1.1. Expanded markets
1.1.1.2. FDI
1.1.1.3. Cost savings
1.1.2. -ve
1.1.2.1. Contagion effects
1.2. Employment
1.2.1. +ve
1.2.1.1. Export oriented industries
1.2.1.2. Outsourcing
1.2.2. -ve
1.2.2.1. Structural unemployment
1.2.2.2. Outsourcing
1.3. Inflation
1.3.1. +ve
1.3.1.1. Cheaper imports
1.3.2. -ve
1.3.2.1. Demand/supply shocks
1.4. Balance of Payment
1.4.1. +ve
1.4.1.1. FDI --> improve financial a/c
1.4.1.2. Trade --> improve current a/c
1.4.2. -ve
1.4.2.1. Reverse contagion
1.4.2.2. Unfair trading practices
2. Political Impacts
2.1. Positive
2.1.1. New political ideologies introduced
2.1.2. Tyrannical or incapable governments kept in check.
2.1.2.1. E.g. The downfall of the Manchu government in 1911.
2.1.3. Improve international relations between countries.
2.1.3.1. E.g. The formation of interest groups like the WTO, Shanghai Cooperation Organization and NATO.
2.2. Negative
2.2.1. May cause socio-political instability
2.2.1.1. E.g. The spread of the Jasmine Revolution in the Middle East.
2.2.2. Radical ideas may become widespread.
2.2.2.1. E.g. The spread of Communism during the Cold War.
2.2.3. Conflicts may arise between nations due to differences in ideas and agendas.
2.2.3.1. E.g. Sino-American trade disputes
3. Socio-cultural
3.1. Positive
3.1.1. cultural exchanges/preservation/heterogeneity
3.1.1.1. E.g. Chinese wave, J wave and K wave, not solely about westernisation
3.1.2. Propagation of democratic principles and civil liberties
3.1.2.1. E.g. Clamour of freedom across repressive regimes in the Arab world; China perhaps according more respect to basic rights
3.1.3. Online community of like-minded individuals
3.1.3.1. Foster bonds across geo boundaries
3.1.3.2. Effect positive social changes
3.1.3.2.1. Fundraising for a devastated Japan
3.2. Negative
3.2.1. erosion of native culture
3.2.2. McDonaldisation of society
3.2.2.1. homogenisation
3.2.3. deterioration of social values
3.2.3.1. e.g. less respect for the elderly in India