factors in globalisation

Question 1

government support

Answer 1

increase exports

Question 2

financial

Answer 2

deregulation of financial markets, less communication concerns, high speed and secure transactions

Question 3

transport

Answer 3

high speed transport, containerization, handling and distribution efficiencies, computerized systems

Question 4

security

Answer 4

supply chain,crime/terrorism, fiscal and anti smuggling, food security

Question 5

management and information systems

Answer 5

EoS from tech improvements
corporations arrange differently to give competitive edge
IT has enabled: remote management, lean production

Question 6

trade agreements

Answer 6

trade= exchange of G&S between countries (visible vs invisible)
trade increased in volume (1990-2014= 40-60%)- pattern changed

Question 7

explain the types of trade blocs

Answer 7

free trade area- abolish tariffs & quotas, restrict non member- NAFTA
customs union- common external tariff on imports from non members - Mercousur (Latin america)
common market- free movement of labor and capital
economic union- common economic policies

Question 8

what is the transatlantic trade and investment partnership

Answer 8

EU and America- make trade easier (20% of UK companies trade with US
red tape- can’t buy and sell each others products

• not clear on harmonized standards (US animal testing banned in UK), credible? protectionism?