Acceleration of globalisation + time-space compression Flashcards
When did globalisation first begin?
Trade in Ancient Greece
Market integrations between 3rd millennium BC
History of Globalisation
1st trade in ancient Greece and between tribes
1492 Colombus discovers Americas and the discovery of silver in mines. Opened trade markets.
Early 1800s Steam Trains - connectivity
1838 1st long distanced railway linked London with Birmingham, Manchester and Liverpool.
1830s morse code machine = global communications
1880s First commercial cruise liner - holidays - cultural and economic
World’s 1st registering cruise ship launched in 1784 and had 27 cabins
1920s commercial flight - time-space compression, across
world in a day.
1932 Queen Elizabeth crowned and passed many laws.
1952 containerisation boosts economic value as orders are rapid and fast paced.
Today - internet
What is time-space compression?
Due to heightened connectivity, different places feel closer than they did in the past and take less time to reach.
Understanding fibre optics and data transmission