greater dependence on the global economy
freer movement of capital, goods, and services
recognition of companies such as McDonalds and Starbucks in
LEDCs
Although globalisation is probably helping to create more wealth in developing
countries - it is
not
helping to close the gap between the world's poorest countries
and the world's richest.
The animation shows how wealth is distributed. Click on the income brackets to see
where the richest and poorest countries are located.
Reasons for globalisation
There are several key factors which have influenced the process of globalisation:
Improvements in transportation
- larger cargo ships mean that the cost of
transporting goods between countries has decreased. Economies of scale mean
the cost per item can reduce when operating on a larger scale. Transport
improvements also mean that goods and people can travel more quickly.