Global Governance Flashcards
What is a global system
Refers to any organisation, groupings or activities that link different parts of the world
What is global governance
Refers to attempts to regulate global systems and activities
What is globalisation
A process by which national economies, societies and cultures have being increasingly integrated through the global network of trade, communication, transport and immigration
What are the different forms of globalisation
-economic
-social
-political
What is economic globalisation
Long distance flow of goods, capital and services as well as information and perceptions that accompany market exchange, largely caused by the growth of TNC’s
What is social globalisation
Expressed as the spread of ideas, info, Omaha’s and people largely. This is fuelled by the growth of social media
What is political globalisation
Spread of government policies and the influence of international bodies such as United Nations
What is economic globalisation caused by
-increase in free trade
-growth of transnational corporations
-faster, cheaper transport
-global marketing
What is economic globalisation characterised by
Long distance flows of people of goods, capital and services as well as information and market exchanges
What is social globalisation caused by
-migration
-global communication networks
-impact of western cultures through media, sport, leisure and celebrity
What is social globalisation characterised by
Spread of ideas, images and information leading to an increasingly homogenised world (blended)
What is politics globalisation caused by
-growth of western democracies and their influence in poorer countries
-decline of centralised (communist) economies though still going strong in china and Russia
What is political globalisation characterised by
Diffusion of your policies at development of market economies in former communist states. Regime chance in some former dictatorships
What are trans national corporations (TNC’s)
A company which operates in at least two countries
What is the core periphery model
Describes spatially how economic, political and cultural authority is spread out in core and periphery regions, developed in 1963 by John freedman
What is the core
The core includes major world powers and the countries that contain much of the wealth of the planet. Money resources and people flow into the core
What is the periphery
Contains those countries that are not reaping the benefits of the global wealth and globalisation
What is the KOF index
An index of the degree of globalisation taking into account the three dimensional if globalisation and was first devised in 2002
How is economic globalisation measured
By the flows of trade, foreign direct investment and finance
How is social globalisation measured
As the spread of ideas, information, images and people
How is political globalisation measures
Number of embassies, membership of international flows and cultural proximity
What are flows of capital
Capital is the money that is invested and flow in and out of countries
FDI: money invested by TNC’s in overseas empire
BRIC: Brazil, Russia, India, China. Raspier economic advances during 1990’s
MINT: Mexico, Indonesia, Nigeria, Turkey recently emerging economic after 2000
Where are flows of capital occouring
Biggest flows of capital are within the core from the USA to Europe.N E Asia (china, Japan) are large flows in the core
Some in 2012 but more money from Asia very low flows in South Africa
What are flows of capital
Movement of people over the world
Remittance - a payments of money that is transferred to another party
Where is flows of labour occouring
North America, Europe and oceans have a net receive of labour
Flows of remittance can slow where money is sent from and to
What are the flows of products
A globalised world means more products need to be transported from their place of manufacture to their chosen markets. This has been helped greatly by containerisation with millions of shipments being moved cheaply and quickly around the world
What are the flows of services
1) services are economic activities that aren’t based around producing any material goods
2)improvements in ICT mean that services can locate anywhere in the world and still be able to serve the needs of the customers
3) during the 1920’s and 1980’s there was deregulation and opening up of the national financial markets to the rest of the world
4) services can be split into low level and high level
5) increasing flows of services are making the world more interconnected
What is time-space compression
Set of processes may have caused the relative distances between places (measured by the travel time or car )
What are the key factors in a shrinking world
-communicate developments
-transport development
-financial development
-security development
-trade agreement
-management systems
-information systems
How has flight shrunk the world
1919: Alclock and brown
Plane 1st transplanted crossing without stopping
1920+ 1930: heindeburg Germany to New York
-1937 crash landed due to hydrogen explosion
150/60s small planes around Europe e.g. dragon rapide
1969: Boeing 747 & concord entered
2003: died to be being too expensive and loud
-twice the speed if sound, shrinking channel and halve plane travel technology
How has Tv shrunk the world
- only were able to film things they knew were going to happen , meaning they had to be planned nothing ‘instant’
-all caught on reels but only 1
=only shown in cinemas
=mass delay
-first to broadcast - everyone could watch NMEA at some time
1936 - 1channel
WW2 ended TV meaning transmitters were shut down
Queens coronation 1952 - 1 million tv sold in 2 months
Fibre optics: 1 fibre = 6 million phone calls at once
How has the car shrunk the world
Ford model T = first massed produces car
-couldn’t go up hill
1962= food corona - mass produced
-shrunk country - affordable
HELP - motorways 1959 M1 70 mph speed limit
What is containerisation
Containerisation is a system of standardised transport that uses a common size of area container to transport goods (20 or 40 feet)
What was global trade like before containers
-up to the 1950s trade was slow - was not standardised and labour heavy and time consuming meaning it was costly
-needed 100’s dockers - loaded & unloaded by hand
-boats idled in port for up to a week
-most items were “made in Britain”
How have contained improved global trade
1956 - 1st container, standard and parts developed (crains and less dockers)
1960’s - cellular container ships, tacks and trains modified
-opened up new markets
-price to transport products is cheapest
= 10 cents per iPad
- “made globally”
-to ship items is less than 1% of its price
How has communication changed
100 years ago: communication was by letter. By 1916we had steam boat crossing the Atlantic which took two weeks. A letter would take approximately 4 weeks to arrive
50 years ago: after ww2 planes began transporting mail across the globe. This took 10 hours in the air, and would arrive in a week
Today: communication is instant and has exponentially increased in volume
-300 billion emails will be sent today
- 4 billion people have an email account
-over 6 billion texts are sent each day
-91% of the world use a mobile device
Over time internet communication has developed
2018 2021:
Emails : 187 million 197.6 million
Instagram : 174,000 695,000
Spent online: $862,823 $1.6 million
Message sent: 38 million 69 million
How has changes in finance facilitated the process of globalisation
-linked to technological development (internet) as well as relaxed trade barriers allowed by governments the movement of finances around the world has grown hugely
-all of this has allowed for faster and more frequent financial trade
What is protectionism (HIC’s core)
The policy of protecting domestic industries against foreign competition by means of tariffs, subsides, import quotes or other restrictions or handicaps placed on the imports of foreign competitors
What is trade liberalisation (free trade)
The removal of reduction of restrictions or barriers on the free exchange of goods between nations. These barriers include tariffs, such as duties and surcharges and non tariff barriers such as licensing rules and quotas
What are trade blocks
Formed by countries joint together to form trade agreements in order to stimulate trade between themselves and to gain economic benefits from co operation
What are the different types of trading blocks
-free trade area
-custom union
-common market
-economic union
-full political union
What is free trade area
An area where the internal barriers/tariffs are abolished, but where external barriers are maintained with no common policy (NAFTA)
What is custom union
Internal barriers/tariffs are abolished, now with common external barriers (EU)
what is common market
internal barriers/tariffs are abolished, now with common external barriers
what is economic union
internal barriers/tariffs are abolished, common external barriers, free movement of resources (labour) among member countries
what is full political union
increasing integration between countries more institutions, decreasing national sovereignty
what is the different trade blocks
-ASEAN: Association of south-east asian nations
-ASPEC: Asia pacific economic cooperation
-BRICS: Brazil. russia, india, china, south africa
-EU: european union
-NAFTA: North america free trade agreement
-CIS: Commonwealth of independent states
-COMESA: Common market for eastern and south afrivca
-SAARC: south asian association for regional cooperation
-MERCOSUR: Mercado common del cono sur
-IOR-ARC: Indian ocean rim association for regional cooperation
what are the value of imports and exports for ASEAN
Exports- 890 billion USD
Imports- 846 billion USD
what are the value of imports and exports from APEC
Export- 8021 billion USD
Imports- 7997 billion USD
what are the value of imports and exports in BRICS
Exports- 2902 billion USD
Imports- 2339 billion USD
what are the value of imports and exports
Exports- 5887 billion USD
Imports- 5788 billion USD
what are the value of imports and exports for NAFTA
Exports- 2376 billion USD
Imports- 3262 billion USD
what are the value of imports and exports for CIS
Exports-2.6% contributions
Imports- 2% contributions
what are the value of imports and exports for COMESA
Exports- 65.93 billion USD
Imports- 142.29 billion USD
what are the value of imports and exports in SAARC
Exports- 330 billion USD
Imports- 481 billion USD
what are the value of imports and exports for MERCOSUR
Exports- 292 billion USD
Imports- 237 billion USD
what are the value of imports and exports for IOR-ARC
Exports- 1875 billion USD
Importa- 1847 billion USD
what is free trade
a free trade agreement is a pact between two or more nations to reduce barriers to imports and exports among them, under a free trade policy, goods and services can be brought and sold across international borders with little or no government tariffs, quotas or prohibitions to inhabit their exchange
what is a tariff
a customs duty or tax on imports of goods. this makes foreign products more expensive and protects home businesses
what is a quota
an import quota is a type of trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time
what are the advantages of trade blocks
-social and economic unions can set high environmental standards
-within trading blocks the reduction of tariffs for members lowers consumer prices
-a trading block creates a large market attracting FDI from abroad
-under common market conditions capital is free to flow, encouraging companies to increase investment
-increase economic power as trade blocks give members stronger bargaining position on trade policies and agreements
what are the disadvantages of trade blocks
-loss of sovereignty and independence
-reaching an agreement within member states can be difficult
-shutting down of domestic industry: increased competition creating winners and loosers
- trading blocks can increase food miles
-there is no protection for domestic industries from other block members exports
-a common external tariff in a common market can increase the cost of raw materials/supplies from outside
what is interdependence
global interdependence refers to worldwide mutual dependence between countries. all nations depend on each other for services, goods, humanitarian or military assistance. importing and exporting of goods and services highly contributes to global interdependence
who oversees global interdependence
-international monetary fund
-united nations
-world trade organisation
-world bank
-transnational corporations
who is the world trade organisation (WTO)
the only global International organisation dealing with the rules of trade between nations