Flows Of Globalisation Flashcards
What are flows of information
Exchange of information between people
Email, internet and social media spreads information quickly
Makes the world more connected
Development of satellite tech
What are flows of capital
Movement of money
FDI has increased international investment
Improvements to ICT has made the flow of capital easier
What is product
Good manufactured for sale
Historically manufactured goods were made in HICs
Manufacturing has now decreased in HICs
Lower labour costs = production moving to LICs and NEEs
International trade of manufactured goods is increasing
What are flows of services
Services are economic activities that arnt based around producing a material good e.g banking
Improvements to ICT and the opening of international markets have made it easier for financial institutions to do business in other countries
What are flows of labour
Human resource in the economy
Highly skilled workers are migrating to HICs for better wages and working conditions
Creates cultural exchange
This connects countries through remittance payments
