Essay on Geography: Economics and European Union

Submitted By jaynemcveigh47
Words: 2175
Pages: 9

Globalisation is the current interaction of most if the world’s economies. In the world of today national economies are no longer separate entities but rather part of a world or global economy.

Advantages;

Integration of markets: Markets are interlinked- European Union
Cheaper Products for Consumer: Trainers are Cheap
Lowering of international Barriers: Now European Union can Trade with ASEAN and NAFTA.
Helps prevent market Saturation in a specific market: stops there being too much competitors in one place.
Offer the chance of employment to many who otherwise would be unemployed.
45million people in LEDC’s employed I TNC’s or spin off services.
There will be technological development associated with the new factories which will enhance the skill level of the local community.
Having TNC’s in a country establishes links with the international economy and other spin off industries.
TNC’s have also had a beneficial effect on some economically deprived areas. Silicon Glen in Scotland, an area of high unemployment following the decline in the heavy industry is an example of this. The M4 corridor in the south of England is another example of the positive effects of globalisation. This area has many universities and has close proximity to London, its airports and ease of access to Europe, making it an attractive location for international high tech manufactures. This region attracts research and development side of manufacturing rather that the routine production associated with mass production in LEDC’s.
Disadvantages;
Globalisation is the current interaction of most if the world’s economies. In the world of today national economies are no longer separate entities but rather part of a world or global economy.

Advantages;

Integration of markets: Markets are interlinked- European Union
Cheaper Products for Consumer: Trainers are Cheap
Lowering of international Barriers: Now European Union can Trade with ASEAN and NAFTA.
Helps prevent market Saturation in a specific market: stops there being too much competitors in one place.
Offer the chance of employment to many who otherwise would be unemployed.
45million people in LEDC’s employed I TNC’s or spin off services.
There will be technological development associated with the new factories which will enhance the skill level of the local community.
Having TNC’s in a country establishes links with the international economy and other spin off industries.
TNC’s have also had a beneficial effect on some economically deprived areas. Silicon Glen in Scotland, an area of high unemployment following the decline in the heavy industry is an example of this. The M4 corridor in the south of England is another example of the positive effects of globalisation. This area has many universities and has close proximity to London, its airports and ease of access to Europe, making it an attractive location for international high tech manufactures. This region attracts research and development side of manufacturing rather that the routine production associated with mass production in LEDC’s.
Disadvantages;
Globalisation is the current interaction of most if the world’s economies. In the world of today national economies are no longer separate entities but rather part of a world or global economy.

Advantages;

Integration of markets: Markets are interlinked- European Union
Cheaper Products for Consumer: Trainers are Cheap
Lowering of international Barriers: Now European Union can Trade with ASEAN and NAFTA.
Helps prevent market Saturation in a specific market: stops there being too much competitors in one place.
Offer the chance of employment to many who otherwise would be unemployed.
45million people in LEDC’s employed I TNC’s or spin off services.
There will be technological development associated with the new factories which will enhance the skill level…