Eq1 + Eq2 Flashcards
What is the definition of globalisation
Is the process of interaction and integration among people,companies and government worldwide
How has developments in trade and transport contributed to a ‘shrinking world’ ?
1500-1840 hours drawn cart and sail only 10mph
1850-1930s steam trains and ships
1950s propeller planes ( 300-400mph)
1955-present - containerships keep getting larger and reduce cost and increase efficiency of international shipping. And large jet planes carry more people further so reduce cost and time.
What is containerisation ?
Delivering the worlds goods, changing the worlds human geography
What is container ship’s benefit?
The container ships keep on getting bigger (19224) containers, the huge distances between these ports make size important to keep costs down.
With more container’s means less fuel per container and thus cheaper prices.
What is container ship problems?
Releases toxins .
Requires high levels of fuel
Wil have to be transported further from docking port
What is the benefits of E-tailing?
Quick delivery times and companies like Amazon have reduced the costs of storing large numbers of items in warehouses
What are the problems with E tailing ?
Not good for environment
Governments can’t calculate level of business tax
Packaging is bad for the environment
What is economic globalisation
the growth of TNC’s accelerates cross border exchanges of raw materials,components,finished manufactured goods,shares,portfolio investment and purchasing
What is social globalisation?
international immigration has created extensive family networks that cross national borders -world city societies become multi- ethnic
How has social interconnectivity?
Has grown over time thanks to the spread of universal connections such as phones, the internet and emails
Is e-tailing good for the economy?
Very good as a lot of money is generated
Is e-tailing good for social benefits?
Good for social benefits you can get anything extremely quickly when you want
What does the world bank aim to do and how do they do it?
Help emerging and developing countries with loans and grants to the governments of low and middle income countries for capital projects
How has the world banks aims enabled globalisation?
Allows emerging and developing countries to spend more money
What does the imf aim to and how do they do it?
Encourage trade and growth and furthering international monetary cooperation and It tries to force countries to privatise government assets to increase the size of the private sector
How does the imf enable globalisation?
Removes tariffs beteeen members
Creates barriers for non- member states by placing.
What does the wto aim to do and do they do this ?
For fair trade across the world and for everyone to have an equal chance and it Removes barriers known as trade liberalisation. It advocates for this and seeks to encourage all trade
What is a trading bloc ? And an example?
A trading bloc is a type of intergovernmental agreement. Where regional barriers to international trade are reduced or eliminated amount the participating states
Examples of these are eu, North America free trade agreement
How has the Uk tried to promote globalisation?
Gave tax breaks eg - subsidies- to companies investing in areas such as London docklands. Almost all companies establishing themselves in Londons Canary Wharf development since the late 1990s have been given life-long tax breaks.
It also gave grants and subsidies to encourage foreign companies to locate new manufacturing plant in the Uk.
How has china tried to promote globalisation ?
Open door policy to international business
Special economic zones in china led to European and American companies relating into one of the four zones due to advantages
These zone offer tax incentives and huge pools of cheap labour
By 2005, around 50% of Chinese exports come from foreign companies with connections in these zones
What is the main criticism of the strategy used in the Uk
Many people lost there trades due to the removal of subsidies
What is the main criticism of the strategy used in the china ?
Cheap labour exploited for low wages and poor living standards
What is EPZ ( economic processing zones) ?
are industrial estates that are fenced in for producing manufactured goods for export
What is SEZ ( special economic zone) ?
Set up by national governments to offer financial or tax incentives to attract FDI, which differ from those incentives normally offered by a country.
What is an open door policy?
slowly introducing economic liberalisation and opening up to FDI while maintaining a strict one party political system
Why does china have strong links with Africa?
Because Africa has a lot of untouched and very useful resources whilst not having the resources to collect it effectively
What is opec and why is it so powerful?
OPEC is an Ito which represents 40% of global oil producers and therefor influences oil prices
China is a major player in terms of both inflow and outflow of fdi ?
China is still the worlds largest recipient of fdi but due to its economic growth now china control flows of FDI with the BRICS. The brics now investment heavily in the USA and eu
Therefor china is a major player in the inflow and outflow of fdi due to the Brics
Advantages of kof ?
Wide range of globalisation data that is available
Allows for comparisons between countries
Used a weighting system that takes into account data and rebalances discrepancies
Informal economies are discounted and illegal migrrants not included
Disadvantages of kof ?
Internet skews data
Bias - smaller countries are over-represented at the top
What are the 3 main factors of how a country is rated ?
Economic,social and political globalisation