Factors Accelerating Globalistaion Flashcards
What are the factors accelerating globalisation
Transport
Trade agreements
Communication
Financial systems
Security
Economies of scale
Global supply chains
How has transport accelerated globalisation
Transportation improvements have reduced the cost of production and distribution
Increased aircraft size
Containerisation - cheaper faster transport of goods
High speed railways
Transport can better connect places, taking less time to travel between them - cultural exchange at an accelerated rate
How have trade agreements accelerated globalisation
Creates relationships and connections between places -> increases cultural exchange
Labour migration
How has communication accelerated globalisation
Development of computer tech
Development of the internet - 5.5 billion users - sharing of ideas
Social Media - sharing of ideas
Use of mobile phones - 5.3 billion users world wide -> cultural exchange online -> leads to greater globalisation
Globalisation would still occur without communication tech just at a slower rate
How have financial systems accelerate globalisation
Finance has become easier to live across boarders, creating cultural Exchange
Integration has helped developing economies get involved with international trade
How has security accelerated globalisation
Police work together internationally
Companies and governments work together to stop cyber crime internationally
How have economies of scale accelerated globalisation
Globalisation has been increased by the way companies manage flows
Raw products can be brought in bulk
Large amount of products can be made quickly with less labour cost
Products can be exported faster globally
How have global supply chains accelerated globalisation
Companies can have different stages of production in different countries
-> exchange of culture
