Podcast
Questions and Answers
What is one significant impact of migration on businesses?
What is one significant impact of migration on businesses?
- It decreases competition within the local labor market.
- It diminishes productivity due to skill mismatches.
- It restricts the flow of ideas and culture.
- It lowers costs by providing low-cost labor. (correct)
How does sending remittances affect the home countries of migrants?
How does sending remittances affect the home countries of migrants?
- It generates a trade deficit due to increased imports.
- It stimulates demand, benefiting local businesses. (correct)
- It causes inflation, making goods more expensive.
- It leads to reduced economic growth rates.
What role does the WTO play in globalization?
What role does the WTO play in globalization?
- It organizes negotiations to reduce and liberalize trade. (correct)
- It enforces strict trade barriers between countries.
- It regulates the migration of skilled labor internationally.
- It promotes isolationist policies for member countries.
What is an effect of the expansion of trading blocs like the EU?
What is an effect of the expansion of trading blocs like the EU?
Which of the following is NOT a factor contributing to globalization?
Which of the following is NOT a factor contributing to globalization?
What is a common misconception about the migration of people?
What is a common misconception about the migration of people?
What positive effect can skilled migrants have on a national economy?
What positive effect can skilled migrants have on a national economy?
Why is migration considered a significant contributor to globalization?
Why is migration considered a significant contributor to globalization?
What is a financial benefit that migrants contribute to their home countries?
What is a financial benefit that migrants contribute to their home countries?
Which of the following statements accurately reflects the relationship between migration and globalization?
Which of the following statements accurately reflects the relationship between migration and globalization?
Flashcards
Migration definition
Migration definition
Movement of people between countries for work or a better life
Globalization effect of migration
Globalization effect of migration
Migration spreads ideas and culture, leading to more global connection.
Low-cost labor
Low-cost labor
Migrants who provide inexpensive labor.
Increased exports and trade via migration
Increased exports and trade via migration
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Remittances
Remittances
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Skills gap
Skills gap
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Impact of skilled migrants
Impact of skilled migrants
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WTO and trade liberalization
WTO and trade liberalization
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Trading blocs (e.g., EU)
Trading blocs (e.g., EU)
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Globalization factors
Globalization factors
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Study Notes
Migration and Globalization
- Migration is the movement of people across countries for better employment or living conditions.
- Increased labor mobility in recent decades has led to greater global integration and cultural exchange.
- Migrants provide low-cost labor, boosting business competitiveness and export potential, ultimately improving shareholder profits and productivity.
- Migrants often send money home, significantly increasing household incomes and boosting demand in their home countries, benefiting multinational corporations (MNCs) and stimulating trade and globalization.
- Skilled migrants fill labor shortages, accelerating economic growth and national income.
- Globalization is influenced by more than just migration, including factors like trade negotiations, and the opening of closed economies.
- Trade organizations like the WTO negotiate rounds of trade liberalization to reduce barriers and promote global trade.
- Foreign Direct Investment (FDI) leads to increased income, demand for goods & services, and ultimately increased trade & globalization.
- Economic blocs such as the EU and AfCFTA promote trade liberalization.
- Political changes, particularly the opening of previously closed economies, increase integration and lower trade/travel costs.
- Migration is a key driver of globalization, but other factors like investment play a significant role.
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