Issue 3_Being Part of a Globalised World

Being Part of a Globalised World Social Studies: Issue 3

What is globalisation and what has driven it forward? What are the economic impacts of globalisation? 08 09 What are the cultural impacts of globalisation?10 11 Table of contents What are the security impacts of globalisation?

What is globalisation? Definition + Driving forces 08

Globalisation process through which ideas and activities of people in different parts of the world become interconnected, leading to greater interdependence between developments in the world and local developments.

Developments in Transportation ●P: Improvements made to the size and speed of transportation modes enabled more good and people to be carried per trip, leading to savings in transport costs ●Ev: First commercial plane in 1913 carried one passenger vs. largest commercial passenger plane in 2015 carrying 853 passengers / 7200 flights from Changi Airport every week ●Exp: When goods and people can be moved around the world more quickly and at a lower cost, it facilitates the process through which people’s activities and ideas become interconnected

Growth in Multinational Corporations - P: Growth in MNCs increase the economic interconnections between people and goods throughout the world - Evid: Starbucks uses 27 countries for beans + transported to 21 000 stores to more than 65 countries - Exp: Countries provide employment, higher wages and exchange of new knowledge and competition + Companies increase influence in region and gain more revenue from new groups of consumers, thus both using each other to reach their goals, fostering interdependent relationships

Advancements in Technology - P: Advancements in Technology facilitate the communication and exchange of information across the world - Evid: Computers used to take up a whole room in 1970s v. The Asus Zenbook is one of the lightest laptops on the market at 1.19kg / Messages used to be sent by fax, email vs. Discord, Gmail, Zoom, Whatsapp, Teams - Exp: People around the world can now conveniently communicate anytime and anywhere + a lot of information can be quickly attained, allowing parties to know more about each other, which fosters interconnected and interdependent relationships

Economic Impacts of Globalisation 09

Investments in one country from another country Foreign Direct Investments Businesses with less than 200 workers, less than or equal to $!00 million in profit Small and Medium Entreprises Treaties to create trade without tax between countries Free Trade Agreements

Economic Growth on Countries this causes increased tax revenue, more employment opportunities, variety of goods and services provided e.g: FDIs in SG amounted to $168 billion to SG’s economy in 2017, FTAs supported 40 000 jobs in 2012 in USA When an economy experiences healthy growth and profit done through FDI, FTAs 01 02 03 LinkEvidencePoint