Economic GLOBALISATION

Question 1

What did the growth of TNCs result in?

Answer 1

Improved transport & communication, making global trade possible.

Question 2

What is a TNC?

Answer 2

A transnational corporation - a company with employees & facilities in several countries.

Question 3

Define economic globalisation.

Answer 3

Capitalist free markets operate without national borders.

Question 4

What is the evidence for a globalised economy?

4

Answer 4

Spread of capitalist free market
Growth of TNCs
McDonaldisation (Ritzer, 2000)
Global financial markets

Question 5

MCDONALDISATION (Ritzer, 2000) = a _____ process, part of globalisation, consisting of:
_______ - staff are ______ to serve customers ______, using _________.
________ - ______ replaces _______.
_________ - everything _____/___ the same to be __________.
_______ - to ensure people _____ & ______ _______. Where possible, _____ are replaced by ________.

Answer 5

a) global
b) efficiency, serve, quickly, precise steps
c) calculability, quantity,quality
d) predictability, looks/is, recognisable
e) control, eat, leave, quickly, staff, machines

Question 6

PROGRESS Since 1970

TNCs have changed as they’re now only _______ by ____ like the ____ & are more ________ than _______ all _____.

Answer 6

a) curbed
b) IGOs
c) EU
d) powerful
e) almost
f) states

Question 7

PROGRESS Since 1970

Hirst & Thompson (1990) argued ________ globalisation is a _____ & we’re closer to an ____________ than a _________.
_________ can control the _________ taken by the world ________.
There’s no ________ of a fully _________ global _________ system.

Answer 7

a) economic, myth, international economy, global economy
b) nation-states, direction, economy
c) evidence, developed, economic

Question 8

EVENTS Affecting Globalisation

What has happened to economic globalisation, according to Kunstler (2005).
Why?

Answer 8

It’s in decline.

The west only needed it for cheap access to raw materials; as these become less important, countries are turning inward again.