HOW AND WHY ADVANTAGES DISADVANTAGES

Air freight
GOODS Greater choice (although local brands may be lost) Growth of monopolies or near monopolies e.g. Microsoft
Growth of TNCs including offshoring Possible cheaper products (economies of scale) Small businesses close
Growth of global brands
Year round choice for seasonal and perishable products Homogenisation
Greater advertising e.g. food Cultural dilution
Containerisation and air freight More reliable availability Loss of seasonality
Dependence on TNCs and their services

Global banks e.g. HSBC

CAPITAL Online shopping e.g. Amazon Global credit crunch
Internet and telephone banking
(MONEY) Ease of travel e.g. travellers cheques and ATMs Limited access for poor (more micro-loans offered no by banks
Credit cards and services like Paypal Transfers between accounts and countries like Grameen)
ATMs Credit card fraud
Range of products e.g. loans, mortgages and Overspending and debt
overdrafts Collapse of pension funds
Trade in stocks, bonds, etc. Collapse of financial institutions e.g. Glitnir and Landsbanki in
Iceland

Greater passport ownership

LABOUR Remittances sent back to friends and family Reliance on foreign labour
Visa relaxation Reduced unemployment as people move to jobs Racial tension between ethnic groups e.g. Poles in the UK
Cheap flights Sharing of ideas and skills (division of labour) Economic leakage as earning are sent home
TNCs (global division of labour - footloose Possible "Brain Gain' for receiving countries Possible 'Brain Drain" for losing countries
workers) Lack of skills and training amongst home workers
Production of cheaper products because of cheaper labour
Global business language - English? Spread of job skills and knowledge

IDEAS Internet Shared technology e.g. nuclear and renewable energy Cultural imperialism - ideas imposed rather than voluntarily
Media organisations e.g. CNN, BBC and Al Improved human rights through campaigning of adopted
Jazeera governments and NGOs Loss of sovereignty
TNCs Improved freedom of press and speech Ideologies might not always been suitable
Diplomacy (Embassies and Consulates) Prescribed policies like SAPs can sometimes cause problems.
Global organisations e.g. World Bank, IMF
Economic migrants
Military e.g. occupation of Iraq by US and its
allies