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
High speed railways
Improvements to infrastructure
How have trade agreements accelerated globalisation
Trade barriers open borders eliminating quotas and trade restrictions
Creates relationships and connections between places
How has communication accelerated globalisation
Few barriers to prevent the sharing of information
Development of computer tech
Development of the internet
Use of mobile phones - 5.3 billion users world wide -> cultural exchange
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 economic growth in places
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
Trade makes wars less likely
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
Out-sourcing - hire other company to finish task
Off - shoring - relocate abroad
