What is globalisation?

Globalisation is the process by which the world is becoming increasingly interconnected. Interconnectivity means that communication throughout the world has led to an increase in trade and cultural exchange, meaning that places are becoming more and more multicultural whilst also leading to goods and services being traded and transported across the traditional boundaries of nation states. We now have global companies that run in many different countries called multi-national companies (MNC's) and Trans-national companies (TNC's). Globalisation has many positive aspects, such as cross-cultural commination and the spreading of ideas. This means that the time it takes to contact places far away is almost instant, and that space is reduced as transport times are reduced. It also leads to the free movement of people, meaning global immigration is increasing. Global companies can bring employment to LEDCs and lead to inward investment, employment, wealth and foreign currency which can improve purchasing power parity. Globalisation can also bring awareness to global issues like climate change and the need for sustainability. There are few countries that have barriers to globalisation, the result of transport and communications improvements, free trade and the availability of cheap low-cost labour. However, whilst bringing awareness to global issues, globalisation can also increase their prevalence. Increasing transport has varying impacts on pollution and climate change, such as the large carbon footprint on airplanes carrying people and goods. It also creates an interdependent world economy which means shocks in one country now impact people in places very far away. The interdependence is also unbalanced, meaning that often more economically developed countries (MEDC's) often benefit more than lower economically developed countries (LEDCs). This is because MEDC's benefit from low cost raw produce and cheap labour, whilst LEDCS have to import high-cost manufactured goods. This also means that larger companies benefit from economies of scale which can displace smaller local businesses. Whist there is a cross-cultural exchange of ideas, this also means smaller cultures may be under pressure to become more westernised, engaging in the dominant culture influenced more by MEDCs than LEDCs. Resultantly, globalisation is a world process which spreads ideas wealth and trade, but has created an uneven geography of development. The main aspects of globalisation - Cultural Exchange- means people learn about new cultures but also leads to cultural hegemony. - Uneven Development- can mean LEDCs remain less developed in order to provide cheap goods and services to MEDCS but can also lead to MEDCs losing primary industries. -Pollution- Can draw attention to problems such as climate change but can also increase their prevalence - The Reduction of Time and Space Shortening transport times dues to better transport and communication facilities and technologies.