3.1a) How does globalisation involve widening and deepening global connections, interdependence and flows (commodities, capital, information, migrants and tourists)? Flashcards
1a) Within a global network, what is the flow of capital?
1b) In 2013, what was the value of these foreign exchange transactions?
1a) This is the flow of major capital through the world’s stock markets. Many businesses, including investment banks and pension funds, buy and sell money in different currencies for profit.
1b) US$5 trillion per day.
1a) Within a global network, what is the flow of commodities?
1b) In 2015, what was the global gross domestic product, and what was it generated by?
1a) Fossil fuels, food and minerals are traded between nations. Flows of manufactured goods have increased, thanks to low production costs.
1b) US$ 80 trillion, with 1/3 being generated by trade flows in agricultural and industrial commodities.
1a) Within a global network, what is the flow of information?
1b) How is information stored?
1a) The internet, which allows goods to be brought at the click of a button. Facebook gained 1.5 billion members by 2015, and also the existence of on-demand TV.
1b) In ‘server farms’, such as the Microsoft Data Centre in Washington State, and Facebook’s equivalent in Lulea, Sweden.
1a) Within a global network, what is the flow of tourists?
1b) Who is the world’s biggest spender on international travel?
1a) Budget airlines provide services for the rich citizens of high-income countries. People from emerging countries are also starting to travel, using airlines such as AirAsia and East Africa’s Fastjet.
1b) China: 120 million outbound trips in 2014.
1a) Within a global network, what is the flow of migrants?
1b) What is a ‘pick and mix’ attitude?
1c) What is the combined number of economic migrants and refugees, and how many remittances do they send home?
1a) The flow of migrants faces the most obstacles.
1b) Embracing trade flows, but resisting migrant flows, unless these is a special need.
1c) Almost 1/4 of a billion refugees and economic migrants in 2013, with US$500 billion of remittances in the same year.
