Examine How Globalisation Has Resulted in Economic Winners and Losers (15) Essay

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Examine how globalisation has resulted in economic winners and losers (15) Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalisation over the past hundred years has undoubtedly made the world more interconnected including closer societies, politics, economies, cultures and the environment. Globalisation has increased the production of goods and services. There are those who argue that globalisation creates “winners” and “losers,” as some countries prosper, whilst other countries fail to do well. China is becoming a more developed country and is becoming a ‘’winner”. In 1995 China’s GDP per capita was $530, and now in 2012 is has risen to $5,720. This is because China is becoming switched on and more connected to the world through trade. There are many different factors that have led to this increased globalisation. Firstly the development of TNC’s in countries. Tesco is a major TNC and in 2004, its first stores opened in China. This would bring lots of investment into China which would create many jobs, and access to new technology. Overall TNC’s would increase countries GDP. Also China is a NIC (newly industrialised country). China has vast reserves of natural resources like coal, oil and natural gas. This is used to help fuel industrial development, meaning more jobs and opportunities so making the place more globalised. China has lots of human resources that make it a “winner”. It has a huge population to support its development. Millions of people are fuelling China’s economic growth. In conclusion there are many different reasons that have led to China becoming more globalised and therefore a “winner”. While there have been many winners from economic globalisation, there have also been and will continue to be many losers. The primary loser from

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