Chapter 8: What does it mean to live in a Globalised World? Flashcards
Globalisation is …
Globalisation is a process through which ideas and activities of people in different parts of the world becomes interconnected leading to greater interdependence.
Three key driving forces of globalisation today are…
Growth of MNCs
Developments in Transportation
Advancements in Technology
MNC stands for…
Multi-national Corporations - big corporations operating in several countries but is managed from one home country.
Example: Google, Loreal, Yakun, Singtel, Starbucks, MacDonalds
How does growth of MNC cause the pace of globalisation to increase?
MNCs such as Starbucks set up stores at various countries in the world - leading to greater interconnections between people and goods.
MNCs provides jobs for the people in these countries and bring in new technology.
How does advance technological advancement in communication helps the pace of globalisation to increase?
There is now greater access to the Internet where more information is exchanged and communication allowed!
Example: Video call, Zoom, emails - allows for more exchange of information and communication.
How does development in transportation helps the pace of globalisation to increase?
Improvement in size and speed of different mode of transportation has taken place.
Example: Airbus A380 is bigger and faster than old airplanes - allows for more people to travel conveniently and more goods to be transported.
Example: Container ships now can carry more goods and travel at a faster speed. More goods can be transported throughout the world easily.