Globalisation
Globalisation
- Globalisation is the growing links between countries — trade, money, technology, people — so the world acts more like one market.
- Causes: cheaper transport and communication, free trade agreements, the spread of multinationals.
- Countries often join a trade bloc that trades freely among themselves (e.g. the EU).
Practice
Globalisation is the growing links between countries in:
Globalisation ties economies together through trade, finance, technology and migration.
Practice
A trade bloc is a group of countries that:
A trade bloc (like the EU) removes barriers between its members.
Benefits and costs
| Benefits | Costs |
|---|---|
| lower prices, more choice | some jobs lost to cheaper countries |
| faster growth, technology transfer | the rich–poor gap can widen |
| larger markets; poorer countries can industrialise | more pollution; multinationals may avoid tax |
Practice
Which are possible costs of globalisation? (Choose all that apply.)
Lost jobs, wider inequality and pollution are costs; lower prices is a benefit.
You've got it
Key idea
- globalisation = tighter world links (trade, money, tech, people); driven by cheap transport + free trade
- a trade bloc trades freely internally (e.g. the EU)
- + lower prices, growth, industrialisation; − lost jobs, wider inequality, pollution