Dimensions of globalisation Flashcards
What is globalisation?
the process of the world becoming more globally connected on a variety of scale
flows of capital
money that moves between countries and which is used for investment trade and production
Foreign direct investment
investment made mainly by TNC’s based in one country into the physical capital or assets of foreign enterprises
repatriation of profits
TNc sending any profits back to their headquarters in HIC’s
Aid
financial support for poorer countries that can be provided through the UN, from richer countries, or provided bilaterally from one government to another
migration
usually takes place from poorer countries to richer countries and involves skilled workers from poorer countries moving to richer countries
remittance payments
transfers of money made by foreign workers to family in home country
flows of labour
movement of migrants mainly seeking better employment opportunities
flows of products
international movement of products which is facilitated by the reduction in costs of trade
containerisation
a system of standardised transport that uses large standard sized steel containers to transport goods
protectionism
policy by government to impose restrictions on trade in goods and services with other countries
tariffs
tax or duty placed on imported goods with the intention of making them more expensive to consumers so that they do not sell at a lower price than home based industries
flows of services
economic activities that are traded without the production of material goods
e.g international call centres
high level services
services to businesses such as finance investment and advertising
low level services
services to consumers such as banking travel and tourism
