EQ - 1 Flashcards
What is Globalisation?
The increasing integration of economies around the world particularly the through movement of goods, services and capital across borders. There are also broader cultural, political and environmental dimensions of globalisation.
Time-Space Compression
AS travel times fall due to new inversions, different places approach each other in ‘space the’ and they begin to feel closer together than in the past. This is called the shrinking world effect
positives of globalisation
- tweets about natural disaster
- new technology
- domestic sports teams getting the best talent from abroad
negatives of globalisation
- the worlds rich tend to employ worlds poor
- TNC’s being more powerful than governments
what is capital in the global flow?
The movement of money e.g. in the trade of goods between countries
what are commodities in the global flow?
The goods a country has e.g. Middle Eastern countries oil which makes lots of money
what is information in the global flow?
Info + news show across the world e.g. international news about wars
what are tourists in the global flow?
People visit countries and spend money via air or train e.g. flying abroad
what are migrants in the global flow?
The permanent movement of people e.g. people moving as refugees or like in Qatar where Indian workers are there to build.
Capitals impact on globalisation
helps develop countries and helps improve countries standards but could not be spread out leaving people not benefiting
Commodities impact on globalisation
money is gained by countries selling goods and the country gains that product they may not have in their country
Informations impact on Globalisation
leads to making people more aware across the world and maybe want to help by donating
Tourists impact on globalisation
leads to people from other countries putting money into the country they are visiting
Migrants impact on globalisation
can lead to cultures and religions being spread and shared across the world
Types of transport and trade that accelerated or is accelerating globalisation
- steam power
- railways
- telephone and telegraph
- jet aircraft
- container shipping
How did steam power accelerate globalisation?
Britain became the leading world power in the 1800s using steam tech.
- steamships and trains moved goods quickly along trade routes
How did Railways accelerate globalisation?
in the 1800s railway networks expand globally. by 1904 the 9000km trans-surburban railway connected Moscow, China and Japan. Today trains are still a priority and used for trade. Trade with trains made it much faster
How did telephones and telegraphs accelerate globalisation?
They first had telephones and telegraph cables across the Atlantic I’m the 1860s which replaced a 3-week boat trip. This revolutionised communication. in some countries, they never got phone lines so they just jumped straight to mobile phones.
How did the jet aircraft accelerate globalisation?
The arrival of the international Boeing 747 in the 1960s made international travel more commonplace while the recent expansion of cheaper flights.
What is a tariff?
A tax on imports
What is a subsidy?
Financial assistance to a business by the government to make it competitive or prevent collapse
What is a quota?
A limit on the quantity of a good a country allows into the country
what is protectionism?
policies to protect businesses and workers in a country by restricting and regulating trade with foreign nations
what is a free-market economy?
A market economy based on supply and demand with little to no gov control
