Globalization refers to the increasing interconnectedness between societies from around the world through trade, cultural exchange, and technological advancements. Economic globalization in particular involves the increasing movement of goods, services, capital, and information across borders. While globalization provides benefits like increased economic growth and access to new markets and technologies, it also poses risks to developing countries. Local industries may struggle to compete with multinational corporations, and workers could face unfair conditions. Overall, globalization makes national economies more vulnerable to external economic shocks.

1. Globalization AND
ECONOMIC
Presented by Sirada Khamwong
(Year 12)

2. What is Globalization?
 Globalization is a vocabulary that is designed to the global society in which
economic, political, environmental and cultural events take place in a part of
the world. It has a biggest impact on other parts of the world.
Narinukun International Programme, Thailand

3. Advantage of Globalization
Increased communication flow enables global
media to connect the world.
 World media has provided important
information to be shared between companies
and individuals around the world.
Remove cultural barriers
 Economic integration through political and
educational backgrounds is reduced and can
also remove cultural barriers and increase the
impact of villages around the world.
Globalization is central to disseminating
democratic ideals to more developed and
independent nations in the developing world.
Narinukun International Programme, Thailand

4. Disadvantage of Globalization
Find cheap labour
 Increased globalization of the unskilled and skilled workers
from developing countries to developed countries, as large
companies seek cheaper labour. This economic trend can also
increase the chances of destroy a single economy, which
could affect every country.
Limits Cultural Expressions
 Globalization imposes threat to mass media being controlled
by huge corporations. This could limit the cultural
expressions.
Narinukun International Programme, Thailand

5. Economic Globalization
 Economic globalization refers to the free movement of goods, capital, services,
technology and information. It is the increasing economic integration and
interdependence of national, regional, and local economies across the world
through an intensification of cross-border movement of goods, services,
technologies and capital.
Narinukun International Programme, Thailand

6. Why is economic globalization important?
 Globalization benefits the world economy. Most economists agree that
globalization is beneficial to the economies of individual countries around the
world by making markets more efficient, increasing competition, reducing
military conflict, and spreading wealth globally.
Narinukun International Programme, Thailand

7. Advantage of Economic Globalization
The faster data flow
 The flow of information from any part of the world
to another world, the world is tied together by now.
Important information can be shared between
individuals and organizations at a very fast rate.
Increased growth
 It has led to higher per capita incomes and helped
many of the poorest countries achieve faster
economic growth and poverty reduction as
measurable.
Narinukun International Programme, Thailand

8. Disadvantage of Economic Globalization
Trade imbalance
 World trade is growing. It has a trade imbalance. Some
countries are making a major trade surplus and the
imbalance of these forces create tension and pressure
to introduce policies to protect.
Vulnerability to external economic shocks
 national economies are more connected and
interdependent; this increases the risk of making a
country more vulnerable to macro-economic problems.
Narinukun International Programme, Thailand

9. Advantage of economic Globalization to
Developing Countries
Increase in free trade
 An increase in free trade has opened doors for investors in developed countries
to invest their money in developing countries. Big companies from developed
countries have the freedom to operate in developing countries.
Education
 With the increase in globalization, it has become easier for people to move to
another borders to different parts of the world to get better education and
people from underdeveloped and developing countries often move to
developed countries to get better education.
Narinukun International Programme, Thailand

10. Disadvantage of economic Globalization
to Developing Countries
Threat to Local Industries
 Globalization also constitute threat to local industries of developing countries. This is
because most local industries in developing countries lack the knowledge, skills and
resources to produce products that would compete with similar products produced in
developed countries.
Unfair working conditions
 Many multinationals have been accused of social injustice by exploiting labour in
underdeveloped countries in order to cut costs. Labour are provided unhealthy working
conditions leading to health hazards.
Narinukun International Programme, Thailand

11. THANK YOU
Narinukun International Programme, Thailand