3.1 Flashcards
What is globalisation defined as
-Globalisation is used to describe the variety of ways in which places + people are now more interconnected than they used to be
- Defined by IMF as the increasing integration og world economies through the movement of goods, services and capitals across borders
- Also includes broader cultural, political and environmental dimensions
-Also involves the widening and deepening of global connections, interdependence and flows
What are the factors that have increased globalisation
- Global communications and technological connectivity
- international organisations between national governments e,g UN
- decreasing transport cost
- Growth of TNCs
- Colonkalism
What is involved in economic globalisation
- Online purchasing and e-tailing
- ICT growth ( supports framework for complex labour divisions)
- Growth of TNCs (accelerates international trade
What is involved in social globalisation
- Social globalisation includes
- International immigration
- global improvement in education and wealth
-social inter connectivity
What is involved in cultural globalisation
- Circulation of ideas and information e,g on social media
- Glocalisation and hybridisation (as local cultures merge with globalising influences )
- domination by certain cultures (westernisation, Americanisation )
What is involved in political globalisation
- political globalisation includes
- The growth of trading blocs (reduced trade restrictions + tariffs)
- Organisations to harmonise different national economies e.g IMF, world bank , WTO
- global concerns and global disaster response
How is globalisation impacting on finance
- Global capitalism is driven by TNCs which are of great power and influence
- Cheaper labour in developing countries helps to supply goods to consumers
- Large amounts of money is transferred via global means
How is globalisation impacting upon populations
Globally demanded skills of management , IT and finance encourage migration
-There are economic migrant labour flows to areas with higher incomes
How is globalisation impacting politics
- Some TNCs seek to influence how people think via the media leading to support from politicians
- TNCs and international political organisations can impact upon the national governments
- Trade barriers have been reduced to allow liberalisation of global trade
How has globalisation impacted communication and information
- Lower transport costs are increasing long distance tourism
- Cheaper mobile phone networks alongside increasing mobile phone usage is allowing exchange of information and ideas
- A global village is an emerging interest group in sport, music , films and media without social or political boundaries
What does the term ‘shrinking world’ refer to
As times of travel have been reduced between global locations, there has been increasing accessibility to global goods and services, creating the effect of a shrinking world
-‘time space compression’
How has containerisation contributed to the shrinking world phenomenon
- containerisation allows the cheaper transportation of freight by large ships that use less fuel per container
- It allows products to be manufactured un different places to their consumption easily
How has e-tailing contributed to the shrinking world phenomenon
E tailing gives consumers access to a wide range of products on the global marketplace
- It does so at reduced costs due to cheaper nature of storing things in warehouses long term
- It ultimate,u increase delivery speeds which gives rise to the time space compression
What are the negatives of e tailing
E tailing can be seen to damage the profits of physical retail industry and can cause the death of the high street
-It also creates a throw away society as well as the human impacts of working conditions for those in the manufacturing industry
How have 21st century improvements in ICT and communication given new business opportunities and created a time space compression
- advances in IT have removed political and social borders globally ,increasing inter connectivity
- For businesses this has allowed access to a global marketplace, creating new consumer opportunities as well as opening more trade opportunities with faster and more efficient communication with producers worldwide
-For the global population this has led to a shrinking world and a time space compression with the lengthening and deepinnibg of connections
