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
why do low skilled workers move abroad to developed countries
high unemployment at home
or low wages at home
leave unrest within their home country
benefits of globalisation
integration
development
stability
economic growth
costs/disadvantages of globalisation
inequalities
conflict
injustice
environmental degradation
what are benefits one flows of people
they can escape conflict
get a better quality of life in new location
what are benefits of flows of money
FDI, trade income and foreign aid all help stable or boost an economy
what are benefits of flows of ideas
development of global politics have increased global trade and economic growth
what are benefits of technology
rapid innovations especially in communications and healthcare
inequalites/injustice/conflicts of flows of people
inequalities; LDC’s suffer from braiin drain
injustice: migrant workers often work in dangerous conditions e.g. Qatar
conflict: low skilled workers are willing to work for less so companies can depress wages in the local area
inequalites/injustice/conflicts of flows of money
ineq: foreign aid can create dependency, FDI can force out local business
inju: companies may pressure govts of LDCs to pass laws to make it cheaper to invest there
con : foreign aid can find its way to armed groups
inequalites/injustice/conflicts of flows of ideas
ineq: 1980s neo liberalism spread from DCs. tends to concentrate wealth in the hands of the few
inju: govts+ TNCs argue free trade is good but it can lead to poor working conditions and environmental degradation
con : private companies are threatened by the decisions of the government
inequalites/injustice/conflicts of flows of technology
ineq: DCs can afford the best tech which increases their advantage of LDCs who can’t
inju/conflict: repressive govts in LDCs use weaponry technology and sell to DCs
