Globalisation is the process by which the world is both becoming more interlinked and compressed via communications, trade, technology and ideas. This leads to interdependence, where global links and communications lead to countries becoming more reliant on each other, especially in economic terms; with trade and intercontinental investments intertwining global growth. Advancements in technology in recent years have led to increased communications and faster and more efficient travel. This has caused the process of globalisation to speed up rapidly, especially in relation to the time-space continuum, in which events happening in one area of the world reach other areas within a matter of hours over the internet and more efficient phone …show more content…

This allows individuals to appreciate other cultures, hence spreading cultural understanding. This can be vital to educating the public and a valuable insight into our fellow human beings and lifestyles which we may not normally be able to enjoy. Holidays in exotic regions now seem almost embedded in the typical Western lifestyle, but without globalisation this would never have occurred.
Despite these apparent benefits, globalisation has many negatives. Perhaps most significantly, it can be seen to benefit some parts of the world more than others, arguably opening LICs up for exploitation, and therefore widening the development gap. Due to their predominantly powerful status’, HICs often control trade and dominate global politics. This leads to LICs often being exploited, with harsh trade agreements being imposed to which LIC nations are almost forced to agree upon.

TNCs provide a prime example of the way in which HICs may exploit LICs. As companies locate to foreign areas of the world, seeking cheap land and labour, this can often result in a ‘global auction’, of countries desperately offering incentives, such as that of a ‘ten year tax holiday’ in Export Processing Zones to entice business. The location of TNCs have be a desperate necessity for many LICs: providing employment and hence putting money into the economy. This often leads to countries offering cheap labour and undermining the rights of the workers. Workers often work in appalling