Defining Globalisation EQ1 Flashcards
what is globalisation?
-the increasing integration of economics around the world particularly through movement of goods, services and capital across borders.
-there are also broader cultural, political and environmental dimensions of globalisation
what are the different types of globalisation?
-cultural e.g. mcdonalds is in 120 countries
-environmental e.g. global efforts to address climate e.g. the Paris agreement
-political e.g. the dominance of western democratic cities in decision making
-social e.g. increasing migration and mixing populations
-economic e.g. growth of TNC with global presence
what is the difference between “widening” an deepening globalisation?
-widening refers to the geographic spread of economic, cultural and political activities across the world linking more countries into global systems
-deepening refers to the intensification of interactions and dependencies between already globally linked areas
what is meant by a “shrinking world”?
The idea that places feel closer and more accessible due to advancements in transportation, communication and technology making the world seem “smaller”
what is meant by time space compression?
the process where the time required to travel, communicate or exchange goods across distances has been reduced by technology making distant places seem closer