4.1.1 Globalisation Flashcards

1
Q

5 characteristics of globalisation

A

1) Increased international movement of labour
2) Increased international movement of financial capital
3) Increased specialisation
4) Increased international trade
5) Increased trade-to-GDP ratios

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

4 factors contributing to globalisation?

A

1) Increased improvements in transport - movement of labour
2) Increased improvements in IT - increased FDI
3) Containerisation
4) Trade liberalisation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Impact of globalisation on individual countries?

A

+ Increased living standards - comparative advantage means specialisation – leads to increase in world real GDP e.g. China 14trn

  • Overdependence – more specialisation means more dependence on that industry 80% of Nigerian exports is oil
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Impact of globalisation on governments?

A

+ Increased tax revenues – due to increased international trade

  • Transfer pricing - Apple was fined £11bn by the EU for doing this
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Impact of globalisation on producers?

A

+ Lower production costs - trade liberalisation makes imports of raw materials cheaper

  • Increased international competition - can force some t close if they can’t compete
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Impact of globalisation on consumers?

A

+ Wider choice & cheaper prices – Containerisation lowers costs and hence prices - increased international trade - wider range of goods available

  • Loss of culture - e.g. KFC in Nigeria
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Impact of globalisation on workers?

A

+ Increase in international job opportunities – improvements in transport - easier to find jobs abroad – IT has allowed remittances - incentive to work abroad

  • Structural unemployment – Lower costs abroad meant countries gained comparative advantage – increased specialisation – industries are move abroad – people lose jobs e.g. UK Steel industry to China
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Impact of globalisation on environment?

A

+ Global cooperation to fight climate change – increased interdependence - relationships must be good between nations – more likely to cooperate on climate change e.g. Kyoto protocol

  • Increase in global warming – increase in international trade & production - more CO2 emissions
How well did you know this?
1
Not at all
2
3
4
5
Perfectly