Diemensions If Globalisation Flashcards
1
Q
What is globalisation
A
Where the world is becoming more interconnected, economically, socially and politically.
2
Q
What has globalisation increased
A
It has increased interdependence, country’s rely on each other more
3
Q
What factors promote globalisation
A
- Flow of Labour
- Flow of technology/services
- Flow of capital
- Flow of Information
- Flow of products
4
Q
What is the flow of services
A
- Economic activity which isn’t production of goods
- IT improvements have allowed banking to develop so industries can set up where ever they like
- low level service=Customer service
- High level=Financial/banking
5
Q
What is the flow of information
A
- Internet allows for information to be spread quickly, social media etc.
- Allows people to learn about other cultures (westernisation)
6
Q
What is the flow of labour
A
- Movement of workforce
- Skilled workers move to more developed countries for higher wages and better job opportunities
- Allows cultural exchange+remittances
7
Q
What is the flow of capital
A
- Money invested into a country
- FDI is more common due to improvements in IT and online banking allows money to be exchanged instantly
8
Q
What is the flow of products
A
- More products produced in NEEs and LICs, due to cheap labour. An example would be Dyson in Malaysia
- UK trade increased by £350 billion between 1990 and 2008
