; EQ1- China CD- keywords

Question 1

Globalisation

Answer 1

The increasing integration of economies around the world , particularly through movement of goods, services and capital across borders

Question 2

What are the 4 main strands of globalisation?

Answer 2

Political, economic, cultural, social,

Question 3

Identify four of the main global flows

Answer 3

Technology ,transport, trade and media

Question 4

Define protectionism;

Answer 4

Policies put in place to protect businesses and workers in a country by restricting/regulating trade with nations

Question 5

Define subsidy;

Answer 5

Financial assistance to businesses by gov’s to make it competitive or prevent collapse

Question 6

Define neoliberalism;

Answer 6

Political philosophy of free markets,free trade, privatisation and increasing the role of businesses in society

Question 7

What are SAP’s?

Answer 7

economic policies for developing countries that have been promoted by TWB and IMF by the provision of loans, conditional on the adoption of such policies

Question 8

Define trade bloc’s

Answer 8

Voluntary international organisations that exist for trading purposes, bringing greater economic strength and security to nations that join

Question 9

Define TNC’s

Answer 9

Firms with operations in more than 1 country

Question 10

TNC example; BMW,German TNC outsources component production to how many suppliers for the mini engine ?

Answer 10

2500 different suppliers and engines are made by Brazilian suppliers cuz wage rates are lower and wind screens are imported from France due to trade free of tariffs within the EU

Question 11

Give one example of what can happen if TNC’s have a poorly monitored GPN?

Answer 11

It can damage corporate profits and image - 2013 - Tesco discovered its Romanian suppliers were mixing horse meat into budget beef burgers- outrage sparked by customers and sales dropped

Question 12

Give one case study example of the Drawbacks of TNC’s having a GPN

Answer 12

2011- JAPANESE TSUNAMI halted component supplies to offshore Nissan factory in SUNDERLAND.

Question 13

Define glocalisation

Answer 13

Changing the design of products to meet local tastes or laws

Question 14

Define global shift

Answer 14

The movement of manufacturing from Europe and the USA to many Asian countries

Question 15

When did China begin with its radical ‘open door’ reforms?

Answer 15

In 1978

Question 16

Name some coastal SEZ’s where TNC’s we’re quick to establish branch plants or trade relationships ?

Answer 16

Shenzhen, Shanghai, xhongqi

Question 17

CHINA; nowadays how much of China’s GDP is being generated in SEZ’s?

Answer 17

SEZs have contributed 22% of China’s
GDP, 45% of total national foreign
direct investment, and 60% of exports.
,estimated to have created
over 30 million jobs.

Question 18

CHINA; investment in transport infrastructure as result of GS ; by 2016 what had China achieved?

Answer 18

Developed a 100,000 km rail system that linked all cities and provinces in China
Built 82 airports since 2000

Question 19

How much of chine population will be classed as urban middle class by 2022?

Answer 19

45%

Question 20

How many in China have escaped poverty?

Answer 20

800 million in China alone

Question 21

How has the disposable income per capita of urban residents in China changed?

Answer 21

In 1979- $60

2020 - $6,000

Question 22

When did the Chinese buy more tv’s and laptops than Americans ?

Answer 22

2013

Question 23

is there a big rural-urban divide in China?

Answer 23

Yes, 20% of Chinas population still live on less than $2 per day and cope due to payments sent home by urban family members as remittance payments

Question 24

What percentage of the Chinese over the age of 15 are now literate?

Answer 24

96% in 2015 whereas in 1930 this was at 20% and in 1980 this was at 60%

Question 25

COSTS OF GROWTH DUE TO GS;

How many suicides since 2010 by foxconn workers?

Answer 25

14 since 2010

Question 26

Foxconn CEO Terry Guo’s quote on leading?

Answer 26

“A leader must be a dictator for the common good”

Question 27

Define GDP

Answer 27

A measure of the financial value of goods and services produced within a territory (including foreign firms located there). It is often divided by population size to produce a per capital figure for the purpose of making comparisons

Question 28

Define emerging economies

Answer 28

Countries that have begun to experience high rates of economic growth,usually due to rapid factory expansion and industrialization e.g; BRICS