Enquiry Question 1 Flashcards
What is globalisation
The process of global integration of economies politics ideas and other aspects
Developments in transport
Steam power-Britain became the leading world power in the 1800s using stem technology
Railways-in 1800s railways expanded globally by
What are some problems with the free trade
You have to pay loans back with interest
What are some problems with world bank
Imposes conditions on loans
All world bank leaders have been America
America owns 17% of votes-bias
What is te free trade organisation
It attempts to supervise and liberalise international trade
What is the IMF
Channels loans from rich countries to countries that need help
What is world bank
Lends money on a global scale
Aiming to achieve the millennium development goal in a big to eliminate poverty
What is offshoring
Some TNCs build their own new production facilities off shore low wage economies
What is foreign mergers
Two firms in different countries join forces to create a single entity
What is foreign acquisitions
When a TNC launches a takeover of a company in another country
What is the space time compression
Heightened connectivity changes our conception of time, distance and potential barriers to the migration of people, goods, money and information
How did the WTO affect Pakistan
Prior to 1995 Pakistan has a 200 mile exclusion zone around its coast however after 1995 they had to open their borders leaning their community in poverty
What are special economic zones
Zones offering tax incentives and huge pools of cheap labour
What are the three aspects of globalisation the KOF index measures
-economic globalisation measured by cross-border trade, investment and money flows
-socks globalisation measured by international telephone calls tourist flows resident foreign population
Political globalisation measured by foreign embassies
Why are some countries switched off
Political isolation-north Korea has deliberately isolated itself from the rest of the world
Physical isolation-the Himalayan mountain countries are hard to access
Economic isolation-some rural parts of sub Saharan Africa are dominated by farming
Environmental-dome harsh extreme climate limit development of transport
