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 and environmental dimensions of globalisation

Question 2

what are the different types of globalisation?

Answer 2

-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

Question 2

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

Answer 2

-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

Question 3

what is meant by a “shrinking world”?

Answer 3

The idea that places feel closer and more accessible due to advancements in transportation, communication and technology making the world seem “smaller”

Question 4

what is meant by time space compression?

Answer 4

the process where the time required to travel, communicate or exchange goods across distances has been reduced by technology making distant places seem closer