IGCSE Economics Chapter 6.2 Globalisation and trade restrictions (Updated for the 2027 syllabus)

#Globalisation #TradeRestrictions #IGCSEEconomics
This video explains globalisation and trade restrictions, examining the causes and consequences of globalisation, including changes in communication, transport, multinational companies and world trade. It also explores the effects of globalisation on competition, income distribution, migration, development and the environment. The lesson then covers the main types of trade restrictions, such as tariffs, quotas, subsidies and embargoes, and evaluates the reasons for and consequences of protectionism. Clear and exam-focused, this guide helps students master Chapter 6.2 Globalisation and Trade Restrictions and prepare effectively for their IGCSE Economics exams.

Timestamps
00:00 - Intro
00:56 - Changes in trade restrictions
1:30 - Changes in transports costs
2:06 - Changes in communication costs
2:43 - Movement of multinational companies
3:14 - Effect on international trade
3:41 - Effect on competition
4:21 - Effect on the environment
4:52 - Effect on migration
5:29 - Effect on income distribution
5:54 - Effect on economic development
6:23 - Multinational companies
8:58 - Tariffs
9:20 - Import quotas
9:37 - Subsidy
9:59 - Embargo
10:28 - Protect infant industries
10:48 - Protect declining industries
11:07 - Protect strategic industries
11:46 - Avoid dumping
12:11 - Reduce deficit on current account
12:37 - Raise tax revenue
13:03 - Restrict the import of demerit goods
13:22 - Promote environmental sustainability