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Mind Map: Globalisation | PSIR Optional for UPSC

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FAQs on Mind Map: Globalisation - PSIR Optional for UPSC

1. What is globalization and how does it affect economies worldwide?
Ans. Globalization refers to the process through which businesses, cultures, and economies become integrated and interconnected on a global scale. It affects economies by facilitating trade, increasing competition, and allowing for the flow of capital and labor across borders. This can lead to economic growth in developing countries but may also result in job losses and wage stagnation in developed nations.
2. What are the positive impacts of globalization on developing countries?
Ans. The positive impacts of globalization on developing countries include increased access to international markets, foreign direct investment, and technology transfer. These factors can enhance economic development, improve living standards, and reduce poverty levels. Additionally, globalization can lead to better access to education and healthcare through international partnerships.
3. What are the criticisms of globalization?
Ans. Criticisms of globalization include concerns over income inequality, cultural homogenization, and environmental degradation. Opponents argue that globalization often benefits multinational corporations at the expense of local businesses and communities. It can lead to exploitation of labor in developing nations and can undermine local cultures and traditions.
4. How does globalization impact local cultures?
Ans. Globalization can impact local cultures by promoting cultural exchange and diversity while also leading to cultural homogenization. The spread of global brands and media can overshadow local customs and traditions, potentially resulting in the loss of cultural identity. However, it can also create opportunities for local cultures to gain international recognition and appreciation.
5. What role do international organizations play in globalization?
Ans. International organizations, such as the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank, play a crucial role in facilitating globalization. They establish rules and agreements that govern international trade, provide financial assistance, and promote economic stability. These organizations help countries navigate the complexities of globalization and address challenges that arise from increased interdependence.
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