Development and Globalisation Essay

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Development and Globalisation

Development

A process of social and economic advancement in terms of the quality of human life.

Development can involve can involve economic, demographic, social political and cultural changes.

Development is a term that can be used in many different contexts whether it is social, economical, political etc. However generally development refers to an improvement in certain areas:

• Economic

o An increase in the country’s economy with a shift from secondary to tertiary industry which becomes less dependent on FDI.

• Demographic

o An increase in population and a more ageing population as standard of living increases. Birth rates and death rates drop as life
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• Primary commodities have fallen in price, or stayed steady, while commodities they need has increased, e.g. oil

What is preventing the Development gap from closing?

• Many LEDCs main industry is as primary producers – generally low profit

• Internatnioal trade dominated by TNCs

• Rapid

The Asian Tigers

Who or what are the Asian Tigers?

Asian economies that have progressed economically at such substantial rates that have come to rival the earning capacity and quality of living of those being first-world countries – Taiwan, Hong Kong, Singapore and South Korea.

Globalisation

Globalisation: The increased inter-connection in the world’s economic, cultural and political systems.

|Positives |Negatives |
|Allowed the movement of people more easily |Uncontrolled migration |
|Increased foreign trade |Inequality in wealth |
|More access to food, services, healthcare etc. all over the world |Heavy environmental cost |
| |Loss of
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