Globalisation is one of the most important challenges of the world that young people are growing up into. What's it all about? Every day - facilitated by computer technologies - a trillion dollars zips around the world at the push of a button, as speculators determine where opportunities might lie. Entire regions rise or fall in their wake. In the business pages, we read of companies restructuring, merging, "rationalising", relocating to where labour is cheaper, or the economy more amenable. In order to remain competitive, others follow suit. We hear from politicians about the need to compete with each other to attract outside investment. This sometimes involves them relaxing hard-won rules which were set up to protect workforces and environments. Without the investment, where will the jobs come from? Without those rules, what protection and power does the population have? "Of the world's 100 largest economies 51 are economies internal to corporations. Only 49 are national economies."

MacDonalds assimilates Islamic Law and the headscarf

Idea: The USA dominates World Trade

Idea: The USA wont have a trade war with China because the cheap labour there (in LEDCs) helps to keep prices down here (in MEDCs).

Idea: Economic migrants come from LEDCs to MEDCs to find paid work. But companies are moving to LEDCs to find cheap labour

Idea: Everywhere is becoming the same. same clothes, same shops, same music, same food - all becoming like the USA?

Idea: Dominance of USA in world trade. USA sneezes – rest of the world catches a fever!

Idea: links between MEDC (the North) And LEDCs (the South)

Idea: USA dominates World Trade. USA likes Free Trade But small LEDCs trying to form trade blocs to help each other

Idea: Only the USA supports Bush for president. Rest of the world does not! (but the USA decides – no-one else!)

Idea: GLOBALISATION as seen in the World Cup France in this example

Globalisation is the term used to describe the increased pace of interconnectedness that has taken place over recent years. It came about as a result of two developments. Firstly, technological changes have enabled information and goods to travel much faster than before, making it easier to transport things and communicate with people. Secondly, the end of the cold war and the spread of a new political philosophy of liberalisation led to the removal of trade barriers. As a result of globalisation, foreign trade and investment have grown dramatically.