Global Interactions OPTION

Question 1

Globalization

Answer 1

The growing interdependence of countries world-wide through the increasing volume and variety of cross-border transactions in goods and services and of international capital flows, and through the more rapid and widespread diffusion of technology and information

OR

Increasing integrated global economy that is characterized by free trade, free flow of capital from country to country, and use of cheapest labour that is available internationally

Question 2

Three regions that with different effects of globalization

Answer 2

1. Core regions: dominate trade, control most advanced technologies, diversified economies and productivity (USA)
2. Peripheral regions: dependency on core regions, disadvantageous trading relationships, less advanced, low productivity
3. Semi-peripheral regions: used to be Peripheral, can exploit Peripheral regions but still dominated by core regions

Question 3

International division of labour (relationship bt LIC and HIC)

Answer 3

Resident of colonies, peripheral regions specialize in produced goods to export to the HIC’s (ex. coffee from Brazil, bananas from Central American countries —> political domination

Question 4

Neoliberalism

Answer 4

Ideological commitment to the individual liberty - free market capitalism and opposed gov intervention in the economy (privatize public services, cut public spending, de-unionise)

Question 5

Flaw of neoliberalism globalization (1)

Answer 5

Exacerbates inequalities between HIC and LICS

Question 6

KOF index of globalization (3 facets, weighting, most globalize)

Answer 6

Each facet out of 100

1. Economic
2. Political
3. Social

Netherlands, Ireland, Belgium

Question 7

Global superpower

Answer 7

Able to influence policy on a worldwide scale, often in different regions at the same time (US, USSR, China, India)

Question 8

G20 (powerful organizations and global groups)