Meaning Role of Globalization Benefits Impacts factors Advantage & Disadvantage how does it affect poor

2. What is Globalization ?
Globalization refers to a scenario where countries
and nations around the world becomes inter-
connected and interdependent for meeting their
needs, both internal and external.

3. WHAT IS THE ROLE OF
GLOBALIZATION?
• Globalization is the process of increased
interconnectedness among countries. The
prosperous economic development that is
typically gained because of the increased
interconnectedness among countries usually
results in a better standard of living, and an
overall improved quality of life.

4. BENEFITS OF GLOBALIZATION
• Globalization has some positive political,
cultural, economic, and ethical consequences.
From a political perspective, globalization has
lead to the rise of organizations designed to
promote international cooperation.
• Globalization has fostered cross-cultural
awareness and a sense of global civics.

5. IMPACTS OF GLOBALIZATION
• Globalization creates greater opportunities for
firms in less industrialized countries to tap into
more and larger markets around the world.
Thus, businesses located in developing
countries have more access to capital flows,
technology, human capital, cheaper imports,
and larger export markets.

6. FACTORS INFLUENCING GLOBALIZATION
(1) Historical
(2) Economy
(3) Resources and Markets
(4) Production Issues
(5) Political
(6) Industrial Organization
(7) Technologies.

7. ADVANTAGES
• Globalization broadens our minds.
• Closer contact with foreign people make us
quite familiar with their manners, habits, and
customs. The cultures become richer as they
come into contact with each other.
• Improving international relations.
• Students can study anywhere in the world.

8. DISADVANTAGE
• Increasing the gap between the rich and the
poor.
• Environmental pollution
• Failed to preserve their old tradition, custom,
and culture
• Local industries could not compete with their
global counterpart.

9. HOW DOES GLOBALIZATION AFFECT
POOR ?
• If globalization causes poverty, then countries
that become more economically integrated via
trade and investment should do worse. ... But
inequality may increase without an increase
in poverty rates, for example
if globalization increases opportunities for the
wealthy more rapidly than for the poor.

10. SOME EXAMPLES of GLOBALIZATION
• Globalization is the integration of national
economies through trade, investment, capital
flow, labour migration, and technology.