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SOCIAL STUDIES - SEC 4

CHAPTER 2: SUSTAINING ECONOMIC DEVELOPMENT

Impact of Globalisation
Impact Explanation/Elaboration

Economic Improvement 1. Many countries enjoyed increase in income levels.


in Standard
2. Government in turn make use of revenue for education, health,
of Living
defence, housing, and transportation.
3. As such, people living in these countries can enjoy a higher
standard of living.
4. With free trade, consumers can purchase a variety of foreign
goods besides local goods.
5. One can also choose from local brands or those imported from
other parts of the world.

Increased Investment and Market


Competition
6. Countries face more intense competition.
Among
Nations 7. Government compete with one another to attract TNCs to invest
in their countries.
8. Many people decided to set up their production facilities in China,
when it first opened its doors, as the cost of production is lower.
9. Today, China has become an attractive country for investors and
poses a strong challenge to other countries.
10. Countries that are able to offer incentives to foreign investors
will be more successful.
11. However, developing countries find it difficult to attract investors
due to reasons such as poor infrastructure.
Talent
14. With globalisation, people are able to move from country to
country in search of leisure activities and employment.
15. People who are highly skilled are in high demand.
16. It has also presented the workforce with the opportunity to find
employment in another country.

Widening Widening Income Gap Between The Rich And Poor


Income Gap
10. Globalisation has contributed to the spread of poverty in many
Between
other countries.
Rich And
Poor 11. In a globalising world, competition for investments and markets
is intense.
12. It has contributed to the spread of poverty in many countries.
13. The developed countries are experiencing rapid income growth
as they own most of the manufacturing activities.
14. TNCs in developed countries are able to draw investments,
skilled people, and resources away from poor areas and
relocate to other regions.
15. Developing countries face trade restrictions and are not capable
of producing better quality goods.

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SOCIAL STUDIES - SEC 4

CHAPTER 2: SUSTAINING ECONOMIC DEVELOPMENT

Impact Explanation/Elaboration

Social Increased 1. Through globalisation, people have become more aware of


Awareness of different cultures.
Foreign
2. People can learn about history, culture and way of life of
Culture
people around the world through travelling, surfing the internet
and watching foreign movies.

Loss of Local 3. Corporations like Starbucks and McDonalds have standardise


Culture methods of operation and thus have created a largely
homogenous culture across the world.
4. Spread of pop culture across the globe.
5. To many people, these cultures influenced their youths
negatively as they lose interest in the local culture.

Environmental Environmental Deforestation and Related Problems


Degradation
6. Rainforests in many countries have been cut down to make
way for the development of industries, agriculture, housing,
and transportation.
7. Some governments allow trees to be cut down at a rapid rate
as it can generate more revenue.
8. An example is in Indonedsia where deforestation is occurring
at a rapid rate.
9. Forests are also being cleared for development projects and
these enable Indonesia to achieve a higher level of economic
development.

Global Warming 10. The movement of goods freely around the world contributed
to global warming as aeroplanes and ships produce large
quantities of greenhouse gases.
11. This led to an increase in global temperature.

Environmental 12. Some argue that globalisation brought about an increase in


Management awareness of environmental management.
13. The amount of energy needed by a globalising world is
enormous.
14. There has to be a sustained supply of power and one way
which this can be achieved is through conservation.
15. Alternative energy sources such as wind, solar energy and
geothermal power can provide some of the energy needed.
16. Hence, the challenge is for countries and organisations to
source for alternative energy sources to generate power.

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