Globalisation
Positive impacts
Investment by MNCs helps countries by providing new jobs and skills for local people but it may also have a negative impact due to increased competition (Geography)When different companies share the same customers. for local businesses and the fact that many profits from foreign-owned firms are taken out of the host countryA country which contains people or organisations from other countries..
MNCs bring wealth and foreign currencyMoney that is not local. to local economiesMoney generated in a country. when they buy local resources, products and services. The extra money generated by this investment can be spent on improving education, health and infrastructureThe basic structures needed for an area to function, for example roads and communications. in developing countries.
Many service sectorAn industry that involves payment for a service, eg an accountant. businesses such as banks, have set up call centresA place that is equipped to deal with a large volume of phone calls at the same time. in countries where there are high numbers of English-speaking workersPeople who do jobs., eg India. This means that they can benefit from cheap labour and 24 hour service provision. Different time zones mean that phone lines and customer serviceWhen consumers are ensured satisfaction of a product or service they have purchased. can operate for longer.
The sharing of ideas, experiences and lifestylesThe behaviour, habits, ideas and customs that are typical of a particular society. of people and cultures. People can experience foods and other products not previously available in their home country.
Globalisation increases awareness of events in far-away parts of the world. For example, the UK was quickly made aware of the 2010 earthquakesThe sudden movement of the earth's crust. in Haiti and rapidly sent help in response.
Globalisation may help to make people more aware of global issues such as deforestationThe cutting down of trees and forests to allow a different land use. and global warmingThe rise in the average temperature of the Earth's surface. and alert them to the need for sustainable developmentEconomic development which meets the needs of the current population without polluting the environment or depleting natural resources..