Dimensions of Globalisation Flashcards
what is globalisation? (short)
the growing interdependence of countries between the exchange of goods and services
what is globalisation (long)?
a process by which national conomies, societies and cultures have become increasingly intgrated through the global network of trade communication transportation and immigration.
what are the 4 dimensions of globalisation?
flows of information, technology and capital
flows of products and labour
flows of services and gloal marketing
patterns of production, distribution and consmption
what are capital flows?
the movement of money for the purpose of trade
what is money moved between countries used for?
all money moved between countries is used for investment, trade and production
what are BRIC countries?
a group of 4 countries whos economies have gorwn rapidly since the 1990''s brazil russia india china
what are MINT countries?
more recently emerging economies of mexico, indonesia, nigeria and turkey
foreign direct investment
investment is made mainly by TNC’S based in one country into the physical capital or assets of foreign enterprises
repatriation of TNC’S
TNC’s investing in overseas production will normally take any profit made from that investment back to their home country
migration
the majority of out migration of labour takes place from poorer to richer countries
remittance payments
transfers made by foreign workers to family in their home country
what is labour?
the aggregate of all human physical and mental effort used to create goods or provide services
flows of products and labour
- global transport systems have never been cheaper or more efficient in moving both people and goods
- high speed rail networks and international airport hubs
- people move around the world for employment
- tourists travel increasing distances to remote locations
what is a transaction cost?
a fee charged by exchange of goods and services
what are tarrifs?
a tax or duty placed on the import of goods with the intention of making them more expensive to consumers.
flows of services and global marketing
- follow flows of capital information, people and products
- marketing is now globalised
- global products rely on a common global brand
what does a footloose service mean?
Footloose industry is a general term for an industry that can be placed and located at any location without effect from factors such as resources or transport. These industries often have spatially fixed costs, which means that the costs of the products do not change despite where the product is assembled.
conglomerate
a thing consisting of a number of different and distinct parts or items that are grouped together.
low level services
Small settlements will only provide low-order services such as a post offices, doctors and newsagents.
high level services
Large towns, cities and conurbations will provide low and high-order services such as leisure centres, chain stores and hospitals.
ECONOMIC DIMENSIONS OF GLOBALISATION
- usually richer countries have created an interconnected system of networks to create an economic upper hand
- whereas lower income countries struggle to access these networks as they are often weighed down by the rules and regulations of the IMF and WTO.
- these regulations tell them to trade freely and this prevents them form imposing protectionist policies which would make them wealthier.
cultural dimensions of globalisation
- elements/products/traditions of a certain culture may appeal to certain other cultures.
- this creates a ‘global village’ as people are able to learn from others as well as join in cultural traditions.
social dimensions of globalisation
- better access to education in developing countries because of work schemes which allow children to go to school rather than work to support their families.
- ethnic minorities are much more accepted in society
political dimensions of globalisation
- conflict between countries lead to trade wars
- economic trade deals leads to civilised relations between countries e.g. EU (before UK decided to leave in 2016)
