Global Governance Flashcards
Globalisation
The process of growing connections across the globe
Becoming a ‘Borderless World’
Economic examples of Globalisation
TNC’s outsourcing and offshoring for lower labor costs
Trade Blocs
Global Transactions
Political Globalisation
Trade Embargos
Trade Blocs
Sociocultural globalisation
Media
Westernisation
Tourism
Awareness of global issues
Environmental globalisation
Pollution
Global agreements such as Paris in 2016
Types of flow
Capital flows - money
Labour flows - workers
Product flows - goods
Service flows - provide a service globally e.g call centre
Information flows - ideas
Capital Flows
Core regions - Wealthy developed countries e.g US Uk
Periphery regions - developing countries with less power
International Monetary Fund - attemps to reduce poverty around the world, oversees trade agreements and financial security
The world bank - Gives out loans for development or relief
Labour flows
Economic migrants - move voluntarily for chances of an improved quality of life and work opportunities
Majority of labour flows is from a low income country to a high income country
What percentage of the global population are international migrants?
3-4%
Labour flows in Asia
63 million people move to work in different areas of Asia in 2017
Majority from South East e.g India to West e.g Qatar - usually for better job prospects
Labour flows in Europe
41 million in 2017
Uk has 2nd largest immigrant population in EU with 700,000 polish immigrants
Product Flows
Movement from area of production to area of consumption
In the past products were produced in high income countries but recent shift due to advancing technologies which allow products to be made in low income countries (lower labour costs)
Service flows
Services can now be transferred globally due to growing communicative tech - companies are no longer confined
2 types
high skill - e.g finance advice
low skill - e.g call centres
Information flows
Grown since 90’s with social media use, internet use developments
Global Markerting
Globalisation allows companies to sell their goods on a global scale
companies can attain social recognition and awareness after developing a trademark e.g Apple - this can also allow trust to form
Glocalisation where a company adapts it’s products to fit local market e.g cherry blossom kitkat
Agricultural products
US and EU top exporters of agriculture products but many emergine economies e.g China and Brazil are in the top 10
Textiles
Majority of produce is from NEE’s such as China
Consumption
In general, HIC’s consume more products than LIC’s or NEE’S
Factors affecting globalisation
financial systems - relations between investers and borrowers e.g bank, globalisation has allowed this to become a global process
financial technologies - Money made easily accessible across the world, growing information about investment, cryptocurrency and remittances easily sent home
Factors affecting Globalisation, Transport, Containerisation and Communication
Transporting goods - containerisation e.g using large shipping containers in order to transport goods
Transporting people made simpler through aircrafts
Communication Technologies - Satellites etc
Economies of Scale
Increasing profits by producing more while keeping production costs low
Global supply chains outsource and offshore
Trade Agreements
Tariffs - tax on imports and exports
Trade agreements lower overall cost of trade
All trade agreements are overlooked by the WTO to ensure they are fair
NAFTA
Lowers or removes tariffs on exports and imports between Canada, USA and Mexico
Interdependence
Depend on choices made by other countries e.g political unrest, economic growth, greenhouse gas emissions