Globalization and its impact on the economy

1. It can lead to cultural homogenization (Westernization).
2. It can also lead to cultural hybridization where local and global elements mix.

💡 À retenir : Globalization affects both the economy and the identity of nations.

1. It increases demand for skilled labor globally.
2. It can lead to job losses in sectors where the country lacks a competitive advantage.

💡 À retenir : Globalization shifts the demand towards higher-skilled jobs.

1. International trade refers specifically to the exchange of goods and services across borders.
2. Globalization is a broader process including the movement of capital, technology, labor, and cultural integration.

💡 À retenir : Trade is a component of globalization, not the entire process.

1. L'outsourcing (externalisation) est une stratégie où une entreprise confie une partie de ses activités à un prestataire externe.
2. Dans la mondialisation, cela permet de réduire les coûts en délocalisant vers des pays à main-d'œuvre moins chère.

💡 À retenir : Outsourcing is a cost-reduction strategy driven by global competition.

1. Not necessarily. While it offers access to capital and technology, it can also lead to "brain drain" or dependency on volatile global markets.
2. Success depends on local infrastructure and institutional quality.

💡 À retenir : Globalization is an opportunity, but it requires strong national policies to be beneficial.

1. Tu additionnes les exportations et les importations.
2. Tu divises ce résultat par 2 pour obtenir la moyenne des échanges.
3. Tu divises cette moyenne par le PIB.
4. Tu multiplies par 100 pour avoir un pourcentage.

💡 À retenir : $T_o = \frac{(X+M)/2}{PIB} \times 100$.

1. ICTs have drastically reduced transaction costs.
2. They allow real-time management of global supply chains.
3. They facilitate the flow of information and financial capital instantly.

💡 À retenir : ICTs are the "nervous system" of modern globalization.

1. La réponse est nuancée : elle a réduit la pauvreté absolue dans beaucoup de pays émergents.
2. Cependant, elle peut creuser les inégalités internes au sein d'un même pays.

💡 À retenir : Globalization creates wealth, but distribution remains a political challenge.

1. It is an investment made by a firm or individual in one country into business interests located in another country.
2. It involves a long-term interest and significant control over the enterprise.

💡 À retenir : FDI is a key driver of technology transfer and job creation.

1. They control global supply chains.
2. They influence local economies through massive investments.
3. They often set global standards for products and services.

💡 À retenir : MNCs are the primary actors in the globalization process.

1. It refers to the idea that the world has become a single community due to telecommunications.
2. Distances are no longer a barrier to interaction.

💡 À retenir : The term highlights the cultural and social aspect of globalization.

1. To prevent "infant industries" from being crushed by global giants.
2. To maintain national sovereignty and reduce dependency.

💡 À retenir : Protectionism is often a reaction against the risks of globalization.