GS&G 1.1 Flashcards
Advantages of the Global Village
- ‘Village’ implies a positive network
- Religion, culture, and heritage all co-existing amicably
- Easy connections, easy trade
Disadvantages of Global Village
- Certain people unable to access the village due to inequality
- What about LICs and people without internet access?
- ‘Interdependence’ isn’t a fair representation of the inequality
What are flows?
Connections between nations and individuals
How has world economy changed after WW2?
-Trade has increased dramatically
- $100bn USD in 1959 to $31trn in 2023
How has trade across developed countries changed in 2023 and why?
- North-North has seen smallest change, only a 3% decrease
- South-South has seen the largest decrease of 7%
- Overall, global trade is decreasing, could be due to wars, protectionist policies (Trump), or increasing tariffs.
Who made the idea of the ‘Global Village’?
Marshall McLuhan
Describe global flows of goods and money
- Growth of TNCs and cross-border trade
- World Bank and IMF lending to support development and globalisation
Describe some global flows of technology
- New tech makes some jobs obsolete
- ICT used to support spatial divisions of labour
- Online shopping and data sales
Describe some global flows of people
- Changing ideas about gender and sexuality
- International migration and diaspora growth
- New political movements and changes
Describe some global flows of ideas
- Diffusion and spread of dominant cultures (Americanisation, Westernisation)
- Glocalisation of goods and services to meet local cultural needs
What are the 5 most powerful drivers of change affecting most industries?
- Cultural homogenisation
- Economies of scale and scope
- Tech developments
- Deregulations and lowering trade barriers
- Strong international competitors
What is cultural homogenisation?
- National cultures that were very different are becoming less different
- This does not mean everyone in the world is the same
What are influences on cultural homogenisation?
- Global media and communication have created similarities in consumer tastes across markets
- This results in customers and markets buying similar products
General benefits of tech developments
- No geographical boundaries
- New industries
- Can revolutionise current industries
- Restructuring of global supply chains
Benefits of globalisation
- Global tech makes local products available to global customers
- Cheap labour is relative and will disappear over time
- Antiglobalisation has caused manufacturers to improve working conditions
Negatives of globalisation
- Power of global brands could drive out local companies
- Cheap labour in developing countries exploited by developed countries
- Rich world still keeps high trade barriers against poorer world
- Theoretical ‘race to the bottom’
Is globalisation inevitable?
No, it’s reversible
Summarise the history of globalisation
- Not a new idea
- All flows existed for centuries through empires
- Some older flows still exist today (Silk Road, sailing routes)
What was David Harvey’s theory?
- Time-space compression due to a ‘step change’ in connectivity
What were McLuhan’s theories in 1960s?
World is ‘flat’ and a ‘global village’ where flows have free reign
‘Flat’ meaning no barriers to movement and easily accessible
