Global Systems and Governance Flashcards
What is globalisation?
Globalisation is the process by which national economies, societies and cultures have become increasingly integrated through the global network of trade, communication and transport
What are the dimensions of globalisation?
Dimensions of globalisation:
-Economic (trade, TNC)
-Health (medical advances)
-Social (migration)
-Cultural
-Technology
-Environmental (campaigns)
-Political (NGO’s)
What is meant by capital flow?
Capital flow = movement of money for purpose of investment, trade,s ervices
What is meant by international trade?
International trade is the exchange of capital, goods and services across borders
What are the factors of production that provide goods and services?
Factors of production:
-Land (minerals, soil,etc)
-Labour (cost, quality of workfore)
-Capital/Capital flow
-Enterprise
What are the regions that major flows occur between?
Major flows occur between:
-Core regions (wealthy countries
-Periphery regions (less wealthy countries)
What is the international monetary fund (IMF)?
IMF = international corporation that aims to source financial stability and high employment around the world
What is the world bank?
The world bank - group of global institution that gives out loans
What is the flow of labour?
Flow of labour = movement of people who move to work in another country
-Mostly to HIC’s
-Highest in Asia and Europe
The flow of physical goods
Flow of physical goods:
-Transported between countries due to globalisation
-Mostly in HIC’s
-Due to technological advancements
-HIC’s import from LIC’s to make a profit
Flow of services
Flow of services:
-Services can locate anywhere without constraints from recourcs
-Two types of services: high level and low level
What is meant by ‘knowledge economy’?
Knowledge economy -> develops quarternary industry, allowing info transfer for stock markets and high tech product
Flow of information
Flow of information -> fast broadband and connections, social media communication, knowledge economy
What is remittance?
Remittance = a sum of money sent in payment or as a gift between countries
->Somalia relies on remittance due to low economy - lack of anti-money laundering laws / informal economy - disrupts capital flow due to lack of governmental regulation
What is the global division of labour?
Global division of labour: Products designed where consumer market located, manufactured in NEE’s, globally distributed
Global division of labour example
Global division of labour example -> Nike:
Desgned in USA -> Rubber extracted in China -> Manufactured in Vietnam -> Globally distributed
Factors that increase globalisation
Factors that increase globalisation:
-Communication
-Capital investment
-Global marketing
-TNC’s
-Language
-Containerisation
-Transport
-Trade
-Migration
-Travel
What is containerisation?
Containerisation is when vast quantities of product are shipped at low costs
How does government support accelerate globalisation?
Government support:
-Occurs through UK trade and investment
-Dry ports (inland trading, containerisation)
How does security accelerate globalisation?
How security accelerates globalisation:
-Terrorism threat high = security high = world customs organisation
How does management and information systems accelerate globalisation?
Management and Information Systems:
-Intergrate better global systems by better management of economies -> Lidl, Samsung
What are the issues associated with interdependance?
Issues associated with interdependance:
-Unequal flows (flows of labour, capital, ideas and technology
-Geopolitical risks
-Outsourcing
What are the benefits and issues of the flow of people?
Flow of people benefits:
-Workers send remittances home which helps their local economy
-People may be fleeing from conflict
Flow of people issues:
-Host country may be dependant on migraint workers, causing issues if there is a change in circumstance
-Migrants home country may be dependant on remittances
-Can cause underpopulation in home country
What are the benefits and problems of the flows of money? (Interdependance)
Benefits of the flow of money:
-FDI can improve QOL as it provides income
Problems of the flow of money:
-Workers in low income dependant on higher wages and so may subject themselves to dangerous working conditions
-TNC’s may profit too much
Flow of ideas benefits and problems (interdependance)
Benefits:
-HIC can educate LIC on how to create economic growth
Problems:
-Deregulation may lead to more relaxed social and environmental laws in LIC, causing environmental damage and injustice
What are trade blocs?
Trade blocs are a group of countries that adopt a common market, eg EU
What are the advantages of trade blocs?
Trade Bloc Advantages:
-Promotes free trade, which means trading without tariffs
-There is often free movement of labour, eg people,a cross trading blocs
-Creates good trading relathionships with other countries in the trading bloc
What are the disavantages of trading blocs?
Disadvantages of trading blocs:
-Importing and exporting to countries outside the trading bloc can be expensive
-Countries can often be part of only one trading bloc, meaning they cant enter others
-Countries aren’t treated equally
What are common markets?
Common markets - an agreement between two or more countries removing all trade barriers between themselves, establishing common tariff and non-tariff barriers for other importers
What is monetary union?
Monetary union = a zone where a single monetary policy prevails and inside with a single currency
Why is outsourcing an issue associated with interdependance?
Outsourcing = leads to economic loss in host countries -> as labour is done elsewhere -> Benefits TNC’s only due to cheap costs
Geopolitical risks associated with interdependance
Geopolitical risks associated with interdependance:
-Country alliances (eg NATO) -> conflic between countries can cause global conflict
-Climate change
-Economic powerhouses (USA v China)
-Energy security (Middle-East dominant market)
What is protectionism?
Protectionism = refres to government policies that restrict international trade to help domestic industries -> to improve economic activity in the industry + protect safety and quality concerns
What is fair trade
Fair trade:
-Bottom-up approach
-Social movement that helps promote good trading conditions + sustainability
-Fair payment, promotes equality -> population advances together
-Local communities (ie farmers) benefit
What are the factors impacting access to markets?
Factors impacting access to markets:
-Trade agreements (such as trade blocs) -> relationships between countries improve trade -> however it reduces acess to other countries markets
-Other agreements such as SEZs (special economic zones)
-Wealth (HIC’s can afford higher tariffs on exports and imports compared to LIC’s
Location of Antarctica
Location of Antarctica:
-In the Southern Ocean, 60 degrees latitude
-Antarctic Convergence Zone = natural boundary seperating two distinct hydrological regions, approx 32-48km wide
What is the Antarctic Circumpolar Current?
Antarctic Circumpolar current = flows eastwards due to Westerly winds, blocing warmer water tavelling south. Known as the West Wind Drift.
What is Antarctic Divergence?
Antarctic Divergence - a lesser current flowing Westwards, blown by Easterly winds
Antarctica’s Physical Geography
Antarctica’s Physical Geography:
-Dry Valleys
-Transantarctic Mountains
What are global commons?
Global Commons: domains that lie outside of the political reach of any nation state
-Eg Antarctica, Space, Atmosphere
Antarctica Climate and Environment
Antarctica Climate and Environment:
-Extreme environment
-Coldest place on earth, is -40 degrees celcius
-Dry, barely any precipitation, only in the coastal areas - can be considered a desert
Antarctica natural resources
Antarctica Natural Resources:
-Rich in natural resources eg fossil fuels and minerals
-Large oil reserves in the Southern Ocean
-Iron ore desposits rich in Transantarctic Mountains
Vulnerability of Antarctica as a global common
Vulnerability of Antarctica as a global common:
-Large amount of resrouces available
-Demands increase
-Climate is fragile - highly adapted to extreme environments so a change can affect entire ecosystem
-Major threats - climate change, fishing and whaling, mineral/resource exploitation, tourism and scientific research
Antarctic Treaty
Antarctic Treat - collection of agreements that work to protect Antarctica through global governance
-53 parties
-Bans activity relating to mineal resources
-Establishes protection
-Banned nuclear activity
-However, inspections do not occur foten and treaty is not mandatory
Antarctica - International Whaling Comission (IWC)
IWC:
-89 member states
-Setting catch limits to regulate how many can be caught
-Conservation work through yearly meetings
-States choose freely, no penalty enforced
Convention on the conservation of Antarctic Marine Living Resources
-Treaty created in 1980
-Protects marine life populations, especially krill
-Ecosystem monitoring program, detects and records changes in the ecosystem + analyses effects of commercial fishing
Influence of NGO’s on Antarctic Governence
Influence of NGO’s on Antarctic Governence:
-Charities such as Greenpeace and WWF enhances protection by:
-Monitoring reliability of government data
-Reporting issues
-Spreading awareness
-Creating petitions and campaigns for change
