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Brainstorming Ideas
Refer to the following brainstorming ideas to get a solid understanding of the answer.
- One of the most concerning aspects of globalisation is the rise of income inequality. As companies seek lower production costs, jobs often migrate to developing countries with labour regulations.
- Globalisation can be detrimental to the environment. Increased global trade necessitates greater transportation of goods, leading to a rise in greenhouse gas emissions and pollution.
- Lower production costs can incentivise companies to operate in countries with weaker environmental regulations, resulting in unsustainable practices like deforestation and resource depletion.
- Globalisation, over time, has proven to foster competition and efficiency. As trade barriers diminish, companies face increased competition from international rivals.
- Consumers benefit from this increased competition through a wider variety of choices and more affordable goods and services. Therefore, globalisation fosters a global marketplace driven by efficiency, leading to a more productive and dynamic global economy.
Q. Although globalisation has a significantly positive impact on the global economy, we must not overlook its negative aspects. Discuss these facets.
Ans. Globalisation, the interconnectedness of nations through trade, investment, and cultural exchange, has undoubtedly revolutionised the world. While it has fostered economic growth and innovation, its impact is not without its downsides.
One of the most concerning aspects of globalisation is the rise of income inequality. As companies seek lower production costs, jobs often migrate to developing countries with labour regulations. This can lead to job losses in developed nations, particularly in manufacturing sectors, and stagnating wages for unskilled workers. As a result, the gap between the wealthy and the poor widens, creating social unrest and instability.
Furthermore, globalisation can be detrimental to the environment. Increased global trade necessitates greater transportation of goods, leading to a rise in greenhouse gas emissions and pollution. The pursuit of lower production costs can incentivise companies to operate in countries with weaker environmental regulations, resulting in unsustainable practices like deforestation and resource depletion. Thus, globalisation exposes the environment to a constant tug-of-war between economic gain and ecological well-being.
However, there are certain positives to globalisation. Over time, it has proven to foster competition and efficiency. As trade barriers diminish, companies face increased competition from international rivals. This pressure to compete incentivizes businesses to innovate, improve production processes, and offer better-quality products at lower prices. Consumers benefit from this increased competition through a wider variety of choices and more affordable goods and services. Therefore, globalisation fosters a global marketplace driven by efficiency, leading to a more productive and dynamic global economy.
In conclusion, globalisation’s economic benefits are undeniable, but its downsides – rising inequality, environmental damage, – must be addressed. A balanced approach that prioritizes social justice, sustainability, and cultural diversity is crucial. By fostering international cooperation and implementing appropriate regulations, the benefits of globalisation can be leveraged while the negative consequences are addressed, paving the way for a fairer and more sustainable global future.
Analysis
Paraphrased Statement: Globalisation, the interconnectedness of nations through trade, investment, and cultural exchange, has undoubtedly revolutionised the world.
Thesis Statement: While it has fostered economic growth and innovation, its impact is not without its downsides.
Body Paragraph 1– Topic Sentence: One of the most concerning aspects of globalisation is the rise of income inequality.
Body Paragraph 1 Supporting Reasons and Explanations: As companies seek lower production costs, jobs often migrate to developing countries with lax labour regulations. This can lead to job losses in developed nations, particularly in manufacturing sectors, and stagnating wages for unskilled workers.
Body Paragraph 2- Topic Sentence: Globalisation can be detrimental to the environment.
Body Paragraph 2 Supporting Reasons and Explanations: Increased global trade necessitates greater transportation of goods, leading to a rise in greenhouse gas emissions and pollution. The pursuit of lower production costs can incentivise companies to operate in countries with weaker environmental regulations, resulting in unsustainable practices like deforestation and resource depletion.
Conclusion: Globalisation’s economic benefits are undeniable, but its downsides – rising inequality, environmental damage, – must be addressed. A balanced approach that prioritizes social justice, sustainability, and cultural diversity is crucial.
Vocabulary In Use
| Word | Meanings |
| Globalisation | A term used to describe the increasing connectedness and interdependence of world cultures and economies. |
| Stagnating | To stay the same and not grow or develop. |
| Greenhouse gas | Gases in the earth’s atmosphere that trap heat. |
| Deforestation | The purposeful clearing of forested land. |
| Incentivizes | Provide an incentive. |
| Implementing | Execute |
Linkers and Connectors Used
- Furthermore
- In conclusion
- However
- As a result
- One of the most
- While
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