Ecomic and Cultural factors of Globalisation
Emcomic Factors
Companies can produce goods in one country and sell or trade with many other countries. This has created large world wide companies called transnational corporations (TNCs) some examples are Mcdonald's, Nike and Nestle. Many companies buy products where the prices are lower for example Indoenisa and sell the product to a another country where they can make more money. The company makes a profit from the country that buys the product example Australia (often a higher price than orginally bought) as do the Indonisean because the TNC bought product orginally from them. This is very common all over the world and helps with the growth of globalisation.
Cultural Factors
While the world is becoming more connected we are losing cultures. Cultures all over the world have been modifed through trade, tourism, ICT and the media, which all fall under the heading globalisation. Western cultures (USA and Britain) has relpaced other cultures and brought in big brands such asMcdoanlds, Nike, Apple, Microsoft and Burger King. TNCs also contribute to lost of culture as they are a big factor of globalisation. People everywhere in the world eat Mcdonalds, they are also likey to listen to music on their apple ipod while wearing a pair of Nike shoes, this is called 'McDonaldisation' also know as standarisation. ' McDonaldisation' is a term that was invented in the 1990s which ment the spread of McDonald's resturants around the world. It involes the idea of standarisation meaning everything being the same. Millions of people around the globe eat the same food, wear the same clothes, and watch the same TV shows. Countries are so interested in other countries cultures that they leave their own behind. Cultures have completely lost, indigenous traditions have been destroyed and many traditional language have forgotten. However there is a good side to cultural aspects of globalisation. Many people are travelling and moving countries and they bring culture with them. In Australia we have many different resturants which a provide a range of different types food from all over the world. Other cultures brought traditions such indigenous dancing, craft making and sports. Australia and many other countries have been influenced by other cultures which have encouraged multiculturism. So globalisation helps the process of spreading cultures due to more people travelling. However many cultures have been destroyed due trade, tourism, ICT and the media.