Dimensions of globalisation

Question 1

Different types of flows (6)

Answer 1

Capital
Labour
Products
Services
Information
Global marketing

Question 2

Flows of capital

Answer 2

All flows of money between countries that’s used for investment, trade and production
Deregulation of world financial markets meant hay financial markets weren’t restricted to one nation

Question 3

Whose model demonstrates movement of capital between core and periphery regions

Answer 3

Frank and Wallerstein

Question 4

IMF

Answer 4

International Monetary Fund

Secures financial stability, facilitates trade, sustainable growth etc

Question 5

World Bank

Answer 5

Source of financial and technical assistance

Low interest loans

Question 6

Example of the World bank helping

Answer 6

Niger Basin
Low levels of water, desertification, and poverty
Helped invest in HEP, reservoirs and irrigation

Question 7

Tiger economy

Answer 7

S. Korea
Taiwan
Hong Kong
Singapore

Question 8

MINT countries

Answer 8

Mexico
Indonesia
Nigeria
Turkey

Question 9

BRIC nations

Answer 9

Brazil
Russia
India
China

Question 10

Leakages

Answer 10

Diversion of funds from an institution going elsewhere

Question 11

E.g. of leakages

Answer 11

Coca Cola
Opened production company in BRIC nations
all profits go to Atlanta, USA

Question 12

FDI

Answer 12

Foreign Direct Investment
Investment from one country to another
Might set up a subsidery company

Question 13

Repatriation of profits

Answer 13

Companies that earn profits in one country

Send it back to a home country

Question 14

Aid

Answer 14

Given for humanitarian purposes or can be through a donor to strengthen an allies economy

Question 15

Remittences

Answer 15

Transfer of money from foreign workers back home

$436 billion from HICs to LICs in 2014
40% Somalians rely on it
Concern it was falling into terrorist groups

Question 16

Flows of labour

Answer 16

People move less easier than money
Immigration restrictions
For opportunities
From S.E Asia, Africa, Latin America to HICs
Usually to neighbouring countries
MIgrants tend to be wealthy
Economic migrants help the economy of the host country

Question 17

Flows of products

Answer 17

Facilitated by reduction in cost of trade
Reduction allowed by improvement to flows of data
Transport and time reduced
WTO reduced global trade tariffs and restrictions

Question 18

Protectionism

Answer 18

Policy by governments to impose certain trade restrictions on goods to protect home based industry from foreign competition

Question 19

Flows of services

Answer 19

Economic activities traded without production of goods
HICs developed finance, advertising etc
Low level services - banking tourism

Question 20

Footloose

Answer 20

Companies can relocate anywhere and still reach customers

Question 21

Flows of information

Answer 21

Shown by spread of data
Development of email, internet and social media
Interconnectivity
Important to research and development industry

Question 22

Global marketing

Answer 22

Promoting, advertising and selling products
Views world as single market
Fit regional marketplace
e.g. coca cola