VOCABULARY

• GOODS

• BORDERS

• MARKET/ TRADE

• INVESTMENT

• INTERCONNECTEDNESS

• INTERDEPENDENCE

• PEOPLES

WHAT IS GLOBALIZATION?

​It’s hard to define the term ‘globalization’ briefly. It can be said that, globalization is a process by which people, companies and governments all over the world can integrate and interact.

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​In simple words, it is the process by which people and goods move easily across borders. Principally, it's an economic concept, the integration of markets, trades and investments with few barriers.

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​It is easier to do business because of better transport, the Internet and more trading between countries. It is also easier to work in another country.

Disadvantages of Globalization

Some Disadvantages of Globalization

• Destroys the environment

• Fuels inequality

• Makes the rich richer and the poor poorer

• Results greater increase in imports than increase in exports leading to growing trade deficit

• removes the emphasis of local cultures

• Encourages spread of disease

• Exploitation of Workers

• westernization is a free lifestyle as in Western countries, preferring imported products from Western countries over local products, imitating Western clothing style, a

• A hedonistic lifestyle that includes overeating, drinking alcohol, and spending time in unhealthy activities can reduce the quality of life and negatively affect health

Think back to the beginning of Covid-19

What prompted the major outbreaks in China, Italy and other nations?

How do you think the Covid-19 situation would be today if there was no globalization?

We have now looked at both benefits and drawbacks of globalization. Now you must decide for yourself. Does the good outweigh the bad?

TROUBLESHOOTING: MODERNIZATION

Part 3 of the Troubleshooting series will be focused on Modernization, what it is, how to identify and ways to increase knowledge when speaking to a customer about this impacting change in their local area.​