Eq1 - What are the causes of globalisation and why has it accelerated in recent decades Flashcards
What is an alevel LIC NEE HIC
LIC = developing country
NEE = emerging country
HIC = developed country
What is globalisation?
Collection of lots of different processes. Flows become wider and deeper, increasing interdependence between countries for capital, commodities, tourism, migrants and information.
What is interdependence?
Countries becoming reliant on connections for their economies to function.
What are the 5 main flows?
Commodities - economic divisions of labour. Suits countries best to make
Capital - money
Information - must move fast
Migrants - workers needed
Tourists - culture becomes more ubiquitous. Economic leakage
Shrinking word theory
Earth hasn’t changed size, but transport makes it feel smaller than before
Time - space compression
Time reduced to diffuse something to a distant place due to improved communication
19th century causes of globalisation?
~ economies wanted to develop
~ western nations wanted to control economies and recourses of new parts of world
How did transport strengthen trade links in 19th century?
~communication and transport technology improved, trade grows more
~technological processes bring unexpected changes to ways companies operate
How did trade support transport links in the 19th century?
~ research into transport technology helped build new global markets and drive technological trades.
Important innovations 19th century steam ships
Britain in 1800
Moved goods and armies along trade routes into Asia and Africa
Stronger British empire
Important innovation 19th century railways
1904, trans-Siberian connected Moscow with China and Japan
Britain used to improve transport and export of commodities through colonial India
Important innovation 19th century telegraph
Across Atlantic in 1860s replaced 3 week boat journey
Flows in 20th century
World shrinking theory
TNCs flourished
Economic globalisation
TNCs trade internationally. Offshoring to lower costs
Industries move to developing countries to save money on labour
Sources of income from international companies
Political globalisation
Governments form connections to trade
Western democracies - market economies
Deregulation policies allow markets to grow