GEOG 216 Reading one

Question 1

What does the discipline of geography examine?

Answer 1

It is the study of space, of how the earth’s surface is used, of how societies produce, how human activities are stretched among different locations.

Question 2

What can cause low economic growth and what does it incline?

Answer 2

that people’s standards of living increase slowly or not at all, depending on labour markets, rates of inflation, unemployment and population growth.

Question 3

What are the two problems with economic growth?

Answer 3

• Limits to economic growth? Ex. The environmental constraints
• The distribution of economic wealth

Question 4

Define globalisation

Answer 4

the most recent stage in a long term, historical process of construction of a global economy. “The new economic order”.

Question 5

What does hyperglobalizers argue for?

Answer 5

globalization poses no problems.

Question 6

What does Transformationalists argue for?

Answer 6

globalization is on-going and transformative. It offers great opportunities and poses some problems.

Question 7

Define Economic globalization

Answer 7

the qualitative transformation of economic relationships across geographical space.

Question 8

Define localizing processes

Answer 8

geographically concentrated economic activities with varying degrees of functional integration

Question 9

Define internationalizing processes

Answer 9

simple geographical spread of economic activities across national boundaries

Question 10

Define globalizing processes

Answer 10

both extensive geographical spread and a high degree of function integrations

Question 11

Define rationalizing processes

Answer 11

the operation of globalizing processes at a more geographically limited scale, ranging from the highly integrated and expanding EU to much smaller regional economic agreements

Question 12

What is new in our global economy?

Answer 12

• More of everything
• The type of trade: today more services
trade liberalisation
• Market integration: markets respond to each other on a global level very quickly (difference between global and international. Ex. Leiman brothers 2008)
• International governance: WTO, IMF, trade blocks: EU/NAFTA

Question 13

Consequences of a more global economy:

Answer 13

1. Loss of domestic control over nation’s own economy
2. Increased intra-firm trade
3. Job opportunities vs. job losses (offshoring and outsourcing)