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» Socio-Economic impact and implications of Globalisation
Socio-Economic impact and implications of Globalisation
- Disparity between poor and rich nations
- Globalisation tends to create wealth overall, but tends to create winners and losers – expanding socio-economic inequality.
- Change in division of labour and techniques of production
- Stages of production could be divided according to specific features and specializations of different regions and their workforce.
- Managed by telecommunication.
- Histories of conquest and colonisation – resulted in difference between exploiters and exploited
- Difference emerged between agricultural and industrial values
- Competition among cities
- To attract financial investment and well educated and skilled mobile workforce.
- To become centers of global commerce and socio-economic development.
- Impact on urban planning
- Urbanisation – negative impact
- Pressure on existing resources and capacity or cities
- Increased economic investment and infrastructure projects
- Housing shortage
- Inefficient and inequitable delivery of infrastructure services
- Spread of western ideals and culture
- Influence of USA
- Spread of consumerist culture
- Standard commodities promoted by global marketing campaigns.