3. Being Part of a Globalised World

1. What does it mean to live in a globalised world?

• Driving forces of globalisation

– developments in transportation

– growth of Multinational Corporations (MNCs)

– technological advancements

2. How do we respond to tensions arising from some economic impacts of globalisation?

• Economic impact on countries, companies and individuals

– economic growth and downturn for countries

– higher profits/ market share and lower profits / market share for companies

– higher income/ greater employment opportunities and loss of income and employment for individuals

– responses to economic impacts ○ cooperation and competition among countries

○ innovation and adaptation by companies

○ acquisition of knowledge and skills by individuals

3. How do we respond to tensions arising from some cultural impacts of globalisation?

• Cultural impact on countries and individuals

– homogenisation and hybridisation

– different degrees of acceptance and rejection

○ entertainment

○ food

4. How do we respond to tensions arising from some security impacts of globalisation?

• Security impact on countries and individuals

– security and vulnerability

– management of trade-offs

○ cyber security challenges

○ transnational terrorism