3.2.1.1 Globalisation Flashcards
What is globalisation?
the process of countries becoming more connected
what is globalisation a result of?
new systems, technology and ideas/relationships
how have new systems led to globalisation
by improving the workings and functions of flows of capital, labour, goods and services
how has new technology led to globalisation
rapid advancements in communications, transport and information like internet and aeroplanes make it easier to trade and communicate globally
how have improved relationships led to globalisation
post ww2 relationships between countries and governments are based on trade and common rules which allow everyone to be involved
what are the flows of globalisation
people products capital information services
what are capital flows
selling of shares across the world governed by financial systems making the world inter connected
what are product flows
relocation of manufacturing abroad where labour costs are lower make exports and imports occur on a larger scale
what are information flows
media, data and news that can spread quickly due to the development of email, internet and social media
what do new information flows allow
countries to communicate better
learn about different cultures easier
what are service flows
economic activities that arent based on material goods e.g. banking and insurance
what has led to the globalisation of service flows
improvements in ICT
what are flows of labour/people
the movement of people who participate in the workforce
how much did international migration increase by between 200 and 2015
40%
why do high skilled workers move abroad
wages are highers
working conditions are better
