global governance

Question 1

definition of globalisation

Answer 1

process of countries becoming more interdependance on each other from knowledge,cultures and capital

Question 2

flows of capital

Answer 2

Aid-the world bank give loans for development or relief
FDI-investemnt from a forign country-lasting
remittance-to your family -$148bn 2017

Question 3

flows of labour

Answer 3

refugees-move form political instability
20 million people moved from Asia to Europe
highly skilled to HIC -more incentives

Question 4

flows of products

Answer 4

better trabsportation-containeriation-shift of manufacturing from HIC to LIC

Question 5

flows of services

Answer 5

scales of economies-indian call centres-bt-cheaper -takes away jobs from uk

Question 6

flows of information

Answer 6

fibre optic communication-intenet
better global availability of phones -+gps-mix of cultures

Question 7

global marketing

Answer 7

global awareness-comsumer more likely to buy-idea that its a better product-coca cola+nike
Glocalisation-Kitkat-japan multiple flavours-collectable market since 1973

Question 8

patterns of production

Answer 8

OIL-opec(13 countries)-rival to eu have power over the oil industry can set prices
CLOTHING-exported from LICs -bangladesh-primark-1100 people died

Question 9

financial technology

Answer 9

communication-stock market
able to operate even when relocating from HIC to LIC
easier flow of money
cryptocurrency-whole new capital flow

Question 10

transport technologies

Answer 10

transport-faster +larger quantities
containerisation-bulk transport-cheaper less trips needed
flights-more affordable -faster and cheaper-more competitive

Question 11

economies of scale

Answer 11

increasing profit by by buying raw material in bulk larger output higher profit

Question 12

global supply chain

Answer 12

each part is part is made in a specialised country rather than one factory making every aspect of production-saves time and money

Question 13

offshoring

Answer 13

hiring other companies to do tasks-1 billion into malaysia and 5 other counties in 2010 increase reach lower cost

Question 14

outsourcing

Answer 14

hiring other companies to do your jobs- bt India

Question 15

trade agreements -control and restriction examples

Answer 15

tarrifs
quotas-fixed number
bans on products

Question 16

what organisation overlooks tareds

Answer 16

worl trade organisation to make sure they are fair
NAFT-lowers tarriffs betwen north ameriacin countires-

Question 17

NAFTA

Answer 17

NAFTA-1994-lowers tarriffs betwen north ameriacin countires-
trade between countries since 1993 to 2015-297bn to 1.14T
largest trade area of 450 million people
less protectionism

Question 18

stock market crash

Answer 18

2008-too many loans going out to people who couldn’t pay it back with subprime mortaggaes-low initial interest rates which get higher
10% unemployment in the us
less remittance backhome estonias economy shrank by 13%

Question 19

unequal flows of people

Answer 19

44% of londons celaners are an ethnic minority -unwanted by uk population
brain drain-
poor working cinditions-qatar-1200 migrant workers died

Question 20

unequal flows of ideas

Answer 20

privatisation of companies-TNC-profits kept into company not reinvestd into the economy
threat to a states sovereignty-too many culutrer

Question 21

tehcnoloigalcflows of technology-pros+cons

Answer 21

pros-companies can maximise profits-better product for consumer -strenthens trade deals between LIC and HICS
cons-disparioty between cost of product and the pay people are getting-loss of jobs

Question 22

trade unequal power relations

Answer 22

bannana wars-6 year disagreement -caribean famers goven special access to the EU markets-
tncs of latin americain crops filed a complaint-negatively affected banana trad EU then reduced the tarrifs on latin americain crops -more competition of the big TNCs

Question 23

IMF+world bank issues

Answer 23

reinforce unequal power between countries -not level playing field-may cause more privatisation-more influential from countries who invest the most

Question 24

role of the WTO

Answer 24

maintenance of high import duties and quotes in rich countires
protection of HIC agricultyre
developing countries arent aas repressented in the WTO

Question 25

patterns of global trade

Answer 25

NEEs are starting to investing LICs making them develop more rapidly-china have 14% of exports -largest since 2009
HIC many

Question 26

fair trade

Answer 26

1992-supports struggling small scale farmers - paid less than deserved-better trading conditions

Question 27

what are trading blocs

Answer 27

groups of countries in a trade agreement-mutual benfit
heavy tarrifs on countires not in trade blocs

Question 28

TNCs

Answer 28

companies across that spand over multiple countries
provide raw materials+manufactured goods