Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

globalisation > eqi1 > Flashcards

eqi1 Flashcards

1
Q

what is globalisation?

A

flows of goods, money, people and cultures between countries without barriers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

how are we globalised?

A
  • politically
  • culturally
  • economically
  • socially
  • environmentally
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

what is economic globalisation?

A
  • the growth of online economy through the internet
  • growth of TNCs and cross border exchanges of goods, culture and money
  • ICT facilitates global production chains and allows a global distribution of labour by companies
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

what is social globalisation?

A
  • increasing global social connectivity through technology, the internet and social media
  • improvements in global education and healthcare knowledge and practice leads to greater life expectancy
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

what is environmental globalisation?

A
  • collective efforts to tackle global scale environmental issues e.g. COP
  • greater awareness of global scale environmental issues
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

what is political globalistion?

A
  • international immigration flows due to improved transport and communication
  • international efforts to respond to global issues e.g. climate change
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

what is cultural globalisation?

A
  • 24 hrs news reporting, social media and TV spreads information and knowledge of other cultures
  • development of trade blocs between groups and nations
  • successful cultures have spread across the world, leading to a global hybrid culture
  • glocalisation and cultural hybridisation occurs
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

what is glocalisation?

A

changing products to meet the needs of local economies
e.g. McDonalds changes meals depending on countries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

what is interdependence?

A

a scenario where the success of one place relies on the success of another

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

what are the categories of interdependence?

A
  • economic
  • political
  • social
  • environmental
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

what is economic interdependence?

A

230 million people live abroad
- some sectors rely on eastern european labour and eastern european countries are reliant on UK labour remittances

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

what is political interdependence?

A

globalisation is that economic interdependence leads to political interdependence
- golden arch theory = two countries with mcdonalds will not wage war on each other

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

what is social interdependence?

A

social ties between two countries can be strengthened by migration
- large indian migrants in the UK has deepend the country’s interdependence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

what is environmental interdependence?

A

all states are environmentally interdependent to some extent because of the shared use of global commons such as the oceans

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

which factors accelerate globalisation?

A

1) growth of TNCs
2) lower transport costs
3) communication revolution
4) trade
5) state- led investment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

what does the growth of TNCs do for globalisation?

A
  • economic benefits which help more people engage with a global economy
  • leads to a spread of culture e.g. McDonalds
  • glocalisation = makes connections
  • FDI = TNCs invest in the infrastructure of the places where they operate e.g. transport
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

what does lower transport costs do for globalisation?

A
  • container ships only cost a fraction more than small boats and are hugely efficient
  • containerisation = vital in the movement of manufactured goods and culture and wealth across the world
  • fast trains allow for raw materials to be transported effectively and commuting to take place
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

what does the communication revolution do for globalisation?

A
  • 66% of world pop have access to internet
  • hybridisation of culture - social media
  • westernisation
  • reduce cultural variation
  • reduce costs
  • accessibility
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

what does trade do for globalisation?

A

increases manufactured goods by NICs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

how does state led investment affect globalisation?

A

special economic zones in China
TNCs can build factories and offices cheaply and exploit the labour
- they also mean there are minimal regulations on pollution and health and safety

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

what are intergovernmental organisations?

A

an organisation whos members are composed of sovereign states

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

what is free trade?

A

a political/economic policy which removes all restrictions on global trade, allowing anyone to trade anywhere, any time and on equal playing fields

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

what is GATT and it’s aims?

A

GATT is the general agreement on tarriff and trade which aims to reduce and irradicate taxes, tarrifs and quotas

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

what are non-tarrif barriers?

A

any condition within a country that makes the playing field unfair

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
what was GATT replaced by?
world trade organisation
26
what is an example of a non-tarrif barrier?
America wants to sell GMO beef and europe says no so puts a law that makes GMO beef illegal - limits america's ability to trade
27
what is WTO?
the WTO has tried to make international trade fair by reducing 1) taxes and tarrifs - stopping countries increasing the prices of foreign things 2) quotas on imports - stopping countries limiting the number of goods foreign countries can import 3) subsideies for domestic growers - stopping countries making it cheaper for MEDC farmers to grow crops
28
who runs the WTO?
America
29
what are criticisms of WTO?
- many MEDCs can maintain high import duties on certain products (blocking imports from other countries - protectionist) - doesn't stop dumping or anti-dumping actions - the WTO does not prevent the high protection of MEDC agricultural sectors (e.g. french farming subsidies) - many LEDCs did not have the capacity to take part in meetings where subsidies and quotas were discussed
30
what is dumping?
an action by an exporting country. a country manipulating the cost of an internallt produced product to sell it under it's market value therefore, making it more competitive
31
what is anti-dumping?
measures by the importing nation to counteract dumping measures by putting on a particularly large tax or tarrif
32
what is the IMF?
it distributes loans to LEDCs to help with national development providing they cahnge their apporach to global trade and governance - this is called structural adjustment policy (SAP)
33
what does the IMF require to give a loan?
1) LEDCs must increase the amount of primary goods they export 2) LEDCs must operate a free trade policy 3) LEDCs must operate in a western manner e.g. democracy 4) LEDCs must cut their domestic spending (austerity)
34
who is the IMF run by?
europe
35
what is the world bank?
the world bank launched the highly indebted poor countries initiative which is a debt reduction programme - it promised to wipe a certain % of a nations debt if they behave a certain way
36
what does the world bank require for debt relief?
1) unsuitable debt burden of 280% 2) debt:export ratio of 150% (increasing exports) 3) they have completed IMF policies (SAP) (exploitation) 4) they have deveoped a PRSP (poverty reduction strategy paper) - domestic spending cuts, westernisation
37
who runs the world bank?
america
38
how can the UK facilitate globalisation?
under Thatcher, the gov was the first to embrace globalisation fully: - some companies were left to close if they were supported by gov subsidaries - gov refused to support industries that had cheaper overseas comp
39
what did the conservative gov do for growth?
- tax breaks/subsidaires - almost all companies establishing themselves in canary wharf since the 90s have been given lifelong tax cuts - gives grants and subsidies to encourage comapnies to move their factories
40
what are trade blocs?
an agreement between states, regions or countries to reduce barriers to trade between the participating regions
40
how is China facilitating globalisation?
open door policy and SEZs offer tax incentives and cheap labour
41
what is the EU?
a unique economic and political partenership between 27 democratic european countries
42
why was the EU set up?
1) economic reconstruction after ww2 2) to keep germany in check 3) create buffer against communism
43
the EU and trade?
- barriers to trade are removed - no more tarrifs and taxes - promotes free market liberlism - relatively high levels of taxes and tarrifs on external good entering the EU unless they are part of an individual trade deal - EU is the main exporter and second biggest importer
44
how has the EU aided globalisation?
- increased trade leads to greater cultural spread - more flows of money - back to companies through remittances - freedom of movement - economic intergration - tech innovation
45
what is start up europe?
an initiative of the European Commission to connect high tech startups, scaleups, investors, accelerators, corporate networks, universities and the media
46
what are the key aspects of start up europe?
- support for entrepreneurs and startups - fostering connections between stakeholders - policy development - events and competitions to encourage innovation
47
what are freeports?
ports which have been turned into SEZs - getting rid of import tax and tarrifs - freeports were integrated to import more cheap goods into the country and lower prices
48
how have TNCs aided globalisation through glocalisation?
it is changing the product to allow for the TNC to reach new markets e.g. Sweden = mcfalafal, Canada = mcpoutine
49
how have TNCs aided globalisation through bridge building?
governments help facilitate the movement of TNCs e.g. google into china
50
how have TNCs aided globalisation through business acquisition?
taking in other businesses to expand their reach e.g. diageo ascertaines other businesses such as Smirnoff
51
how have TNCs aided globalisation through maintaining global patterns of wealth and trade?
TNCs maintain patterns of wealth, trade and inequality e.g. next uses indian sweatshops keeping indians poor
52
how have TNCs aided globalisation through global production networks??
products are made over many different places e.g. BMW mini cooper has 2500 suppliers all over the world
53
social positives of TNCs for the LEDC?
TNCs have brought political stability to Eastern europe and china
54
social positives of TNCs for the MEDC?
TNCs can build important bridges between nations
55
social negative of TNCs for the LEDC?
- outsourcing means that TNCs exploit cheap labour and pay workers badly - TNCs can moe their branch plants to areas of the world that are less regulated
56
economic positives of TNCs for the LEDC?
- foreign direct investment has helped China overtake the UK to become the fourth biggest economy - making it cheap means TNCs are allowing consumers in developing countries to buy goods they couldn't
57
economic negatives of TNCs for the LEDC?
creates economic uncertainty within host country as TNC can move out of a country at any time
58
economic negatives of TNCs for the MEDC?
UK workers cannot compete with the cheap labour in other countries
59
cultural positives of TNCs for the LEDC?
TNCs are responsible for the transfer of tech to developing nations
60
cultural positives of TNCs for the MEDC?
cultural exchange or awareness increased
61
cultural negatives of TNCs for the LEDC?
products from TNCs are consumed everywhere - it reduces local diveristy
62
environmental positives of TNCs for the MEDC?
TNCs are becoming increasingly environmentally aware - most TNCs are now trying to flat up their green credentials
63
environmental negatives of TNCs for the LEDC?
dangerous and environmentally damaging product are moved to LEDCs which have become dumping grounds
64
why has TESCO been successful?
it has a local name in every country and have a wide range of items

globalisation (2 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions