Defining Globalisation EQ1

Question 1

what is globalisation?

Answer 1

-the increasing integration of economics around the world particularly through movement of goods, services and capital across borders.
-there are also broader cultural, political, social and environmental dimensions of globalisation

Question 2

what is the difference between “widening” an deepening globalisation?

Answer 2

-widening refers to more countries becoming connected via trade, investment and communication
-deepening refers to making stronger and more complex connections between countries

Question 2

what is meant by a “shrinking world”?

Answer 2

a shrinking world means that advances in transport, technology and communication have made it easier and faster for people, goods and information to move across the world making the world feel smaller and more connected

Question 3

what is meant by time space compression?

Answer 3

refers to the idea that advances in technology, transport and communication have reduced the time it takes to travel, trade or communicate making distances feel shorter