Globalisation and Inequality Flashcards

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What is globalisation?

The growing links between countries through trade, travel, media, and the internet.

Unequal wealth, power, and life chances between countries and regions of the world.

The internet makes fast, cheap communication across the world.

A company that operates in many countries, often with factories in one place and sales in another.

They may pay low wages in poorer countries and keep most profits in richer ones.

It is the loss of manufacturing jobs. It can raise unemployment in some areas and widen income gaps.

Moving work to another country to cut costs. It can create jobs abroad but cut jobs at home.

The gap between people who have good internet access and those who do not, which can limit study and job chances.

Migrants often send money back home, which can reduce poverty, but it can also increase competition for low paid jobs.

A scheme that gives producers a minimum price and extra money for community projects. It aims to reduce global inequality.

The steps by which a product is made and moved across several countries before it is sold.

When countries cut wages, taxes, or safety rules to attract TNCs, which can widen inequality.