Dimensions Of Globalisation Flashcards
What’s the definition of globalisation
The process of the worlds economies, political systems and cultures become more strongly connected.
What’s interdependence
Relying on one another, globalisation is increasing this.
Name the types of globalisation
Social, economic, cultural and political
Example of social globalisation
Families connect (FaceTime)
Example of economic globalisation
TNC’s/goods
Example of cultural globalisation
Sharing foods
Example of political globalisation
International agreements
What’s changed about globalisation
Globalisation has always been around, but the rate at which it’s occurring has increased.
What’s flows of globalisation
Movements around the world
Name the flows within globalisation
Capital, labour, products, services and information
What’s flows of capital
Refers to money for investment, trade or production.
What’s a type of investment included in globalisation
FDI-foreign direct investment, repatchment of profits, aid and remittances
What’s happened with FDI
There’s been an increase, e.g. in 1996 there was $400b directed into countries/companies, and in 2016, there was $1500b
What’s repatriation of profits
TNC’s might invest in a area, but the profits are brought back to the TNC
What’s a example of aid
World bank international organisation gives out loans to countries to develop
What are remittances
Migrants are moving from one area to work as a economic migrant and are sending money to their families back home.
What does movement of labour refer to
People moving around the world as migrants, this can be national or international. International has increased due to globalisation.
What do economic migrants do
Send remittances home
What does services and information mean
Services= tertiary services- can be high services like banking or low level services like customer services, information relates to data, which can be shared by email internet and social media.
What are products
Capital goods- trade, previously between HIC’s. Cheaper production in Asia and NEE’s, which has made the world more connected.
What’s global marketing
World is viewed as one market. Global brand-one good sold all over the world I.e. Coca Cola
What’s glocalisation
Products that are adapted to suit a certain location, e.g. McDonald’s
What was production like the past
Most production occurred in HIC’s due to industrialisation, such as UK and Detroit which specialised in the manufacturing of cars.
What was consumerism like in the past
Most consumers were the HIC’s, so products would be manufactured in HIC’s, and HIC’s would once again consume them.
