Global Systems & Global Governance Flashcards

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1
Q

What is Capital Flow ?

A

The movement of money for the purpose of investment, trade or to produce goods/ provide services. Usually regarded as investment into a production operation.

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2
Q

Define Globalisation

A

A process by which national economies, societies and cultures have become increasingly integrated through the global network of trade, communication, transportation and immigration.

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3
Q

What is International Trade ?

A

The exchange of capital, goods and services across international borders. Inbound trade is defined as imports and outbound trade as exports.

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4
Q

What are the factors of Globalisation ?

A

-Economy
-Society
-Culture
-Technology
-Environment
-Politics

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5
Q

What are the Economic dimensions of Globalisation ?

A

-trade & aid
- TNCs
-capital flows

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6
Q

What are the Social dimensions of Globalisation ?

A

-migration
-social media networks

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7
Q

What are the Cultural dimensions of Globalisation ?

A

-‘westernisation’
- cultural diffusion (the spreading out and merging of pieces from different culture)

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8
Q

What are the Technological dimensions of Globalisation ?

A

-higher productivity
-transfer to LEDCs
-communication
(less economically developed countries)

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9
Q

What are the Environmental dimensions of Globalisation ?

A

-increasing greenhouse gas emissions, globalisation has caused many animals’ natural habitats to fall victim to increased farming, ranching, fishing, and other economic activities. The more forests are cut down and the more waterways are overfished, the poorer and unhealthier our environment becomes.

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10
Q

What are the Political dimensions of Globalisation ?

A

-trading blocs (EU, OPEC)
-governmental & global institutions

(Organisation of the Petroleum Exporting Countries)

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11
Q

What are the factors of production in Globalisation ?

A
  • Land (All natural resources provided by the earth including minerals, soils, water, forests, etc.)
  • Labour (The human resource available in any economy. The quantity and quality of the workforce are key considerations to any producer of goods and services.)
  • Capital (buildings, factories, machinery, etc. ‘Capital flows’ can involve the transfer of these physical resources from one place to another.
  • Enterprise (This is a very particular form of human capital describing those who take the risk of establishing businesses and organising the production of goods or provision of services.)
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12
Q

What led to an increase in Capital Flows ?

A

opening of the free market

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13
Q

What is economic Leakage ?

A

Refers to a loss of income from an economic system. It most usually refers to the profits sent back to their base country by transnational corporations - also known as profit repatriation.

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14
Q

What is the acronym BRIC ?

A

An acronym used to identify a group of four countries - Brazil, Russia, India and China - whose economies have advanced rapidly since the 1990s.

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15
Q

What is a diaspora ?

A

A large group of people with a similar heritage or homeland who have moved and settled in places all over the world.

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16
Q

What is the acronym MINT ?

A

An acronym referring to the more recently emerging economies of Mexico, Indonesia, Nigeria and Turkey.

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17
Q

What is FDI ?

A

This is investment made mainly by TNCs based in one country, into the physical capital or assets of foreign enterprises.

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18
Q

Define Migration ?

A

The majority of out-migration of labour takes place from poorer to richer countries. This will exacerbate disparities as the less developed nations lose their most skilled and talented labour, who will pay taxes and spend much of their earnings in their destination country.

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19
Q

What are remittance payments ?

A

These are transfers of money made by foreign workers to family in their home country. Remittances have become the second most important source of income in developing countries. India receives more remittance payments from their diaspora than any other country.

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20
Q

Define Containerisation ?

A

A system of standardised transport that uses large standard-size steel containers to transport goods. The containers can be transferred between ships, trains and lorries, enabling cheaper, efficient transport.

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21
Q

What is Protectionism ?

A

A deliberate policy by government to impose restrictions on trade in goods and services with other countries - usually done with the intention of protecting home-based industries from foreign competition. (Trump 2016)

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22
Q

What are Tariffs ?

A

A tax or duty placed on imported goods with the intention of making them more expensive to consumers so that they do not sell at a lower price than home-based goods – a protectionist strategy. (US / China trade war)

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23
Q

What are high level services ?

A

Services to businesses such as finance, investment and advertising.

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24
Q

What are low level services ?

A

Services to consumers such as banking, travel and tourism, customer call centres or communication services.

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25
Q

Define Footloose industry ?

A

Footloose industry is a general term for an industry that can be placed and located at any location without effect from factors such as resources or transport.
(clothing factories)

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26
Q

What are Conglomerates ?

A

A collection of different companies or organisations which may be involved in different business activities but all report to one parent company - most transnational corporations are conglomerates.
(Amazon , Unilever)

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27
Q

What are economies of scale ?

A

The cost advantages that result from the larger size, output or scale of an operation as savings are made by spreading the costs or by rationalising operations.

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28
Q

What are NICs

A
  • Newly industrialised countries, these countries have developed their own TNCs. Most prominent NICs are the 4 Asian ‘tiger’ economies; Hong Kong, Singapore, South Korea and Taiwan.
29
Q

What are the consequences of Deindustrialisation ?

A

Loss of jobs in the manufacturing sector.For example, employment in manufacturing in the UK fell by around 50 per cent in the 30 years from 1983 to 2013.

30
Q

What is a Maquiladora?

A

Maquiladoras allow companies to capitalize on the less expensive labor force in Mexico and also receive the benefits of doing business in the United States.

31
Q

What are the factors that have accelerated Globalisation ?

A

Communications (phones)
Transport (air)
Collapse of Communism (Soviet & China)
TNCs
Capital / Investment
Global Marketing (McDonalds)
Travel
Containerisation
Migration (ideas & information)
Trade
Security

32
Q

What is the ‘Just-in-time’ technology ?

A

Mean greater efficiency in the supply chain for manufacturers, ensuring that the correct supply of components arrives when they are needed and costs are cut by reducing the quantities of goods and materials held in stock. (Toyota, Japan)

33
Q

What are the Advantages of Trading Blocs Globally?

A
  • to improve global peace and security and reduce conflict
  • to increase global trade and co-operation on trade issues
  • to help members develop their economies and standard of living.
34
Q

What are the Advantages of Trading Blocs Regionally ?

A
  • to allow freedom of movement of trade.
  • to allow people seeking work to move between countries more easily.
  • the possibility of developing a common currency to prevent currency fluctuations & simplify transactions. ( Euro)
  • to support particular sectors of a national economy ( agriculture EU, CAP scheme)
  • to raise standards in education and healthcare across the region.
35
Q

What are the negative of a trading bloc ?

A
  • some loss of sovereignty
  • loss of financial controls to a central authority such as a bank ( European Central Bank)
  • pressure to adopt central legislation (food standards)
36
Q

What is the difference between the IMF and the World Bank ?

A

image on laptop

37
Q

What is a bottom up scheme ?

A

When local people are consulted and supported in making decisions to undertake projects or developments that meet one or more of their specific needs.

38
Q

What are top down schemes ?

A

When the decision to undertake projects or developments is made by a central authority such as government with little or no consultation with the local people whom it will affect.

39
Q

What is the role of the World Trade Organisation ?

A
  • to supervise and liberalise trade by reducing barriers
  • to act as an arbitrator sorting out trade problems between member governments
  • to negotiate to reach agreements that become legal ground rules for international commerce
  • to provide stability by giving trading nations confidence that there will be no sudden policy changes.
40
Q

What is a Bilateral Agreement ?

A
  • An agreement on trade (or aid) that is negotiated between two countries or two groups of countries.
41
Q

What is a common market ?

A

A group formed by countries in geographical proximity in which trade barriers for goods and services are eliminated. (This may eventually apply to removing any labour market restrictions, as in the EU.)

42
Q

What is a Customs Union ?

A

A trade bloc which allows free trade with no barriers between its member states but imposes a common external tariff to trading cuntries outside the bloc (for example, the European Union).

43
Q

Define Outsourcing ?

A

A cost saving strategy used by companies who arrange for goods or services to be produced or provided by other companies, usually where production costs are lower. (Apple & Foxxcon China )

44
Q

What is the Lorenz Curve ?

A
  • The Lorenz curve is a way of showing the distribution of income (or wealth) within an economy. It was developed by Max O. Lorenz in 1905 for representing wealth distribution.
  • The Lorenz curve shows the cumulative share of income from different sections of the population.
  • If there was perfect equality – if everyone had the same salary – the poorest 20% of the population would gain 20% of the total income. The poorest 60% of the population would get 60% of the income.
45
Q

What is the interest of China in Africa ?

A

Belt and Road initiative

one clear obiective is to extract a range of primary resources including metals to support industrial expansion in China, for example, investment in old copper mines in Zambia and Botswana. However, there is evidence that China’s investment in Africa is helping some of the poorer countries to develop infrastructure, as well as healthcare and education.

46
Q

How do TNCs work ?

A
  • to escape trade tariffs - for example, Nissan’s decision to produce cars in Sunderland was largely a to gain barrier-free access to the lucrative EU marker
  • to find the lowest cost location for their production - for example, Hewlett-Packard in Malaysia
  • to reach foreign markets more effectively - for example, McDonald’s
  • to exploit mineral or other resources available in foreign countries - for example, BP in Azerbaijan.
47
Q

What are the Key characteristics of a TNC ?

A
  • maximising global economies of scale by organising production to reduce costs.
  • sourcing raw materials or components at the lowest cost.
  • controlling key supplies
  • branding of products ( easily recognisable)
48
Q

What is agglomeration ?

A

When companies in similar industries locate near to each other because of the benefits gained by sharing ideas and resources - called agglomeration economies’ (Silicon Valley)

49
Q

What is the Multiplier Effect ?

A
  • A situation where an initial injection or investment or capital into an economy (at any scale) in turn creates additional income by, for example, increasing employment, wages, spending and tax revenues
50
Q

Benefits of a TNC ?

A
  • Generates jobs and income
  • brings new technology
  • gives workers new skills
  • has a multiplier effect
51
Q

Negatives of a TNC ?

A
  • Poor working conditions
  • exploitation of resources
  • negative impacts on environment and local culture
  • economic leakage
52
Q

Define Glocalisation

A

A term used to describe products or services that are distributed globally but which are fashioned to appeal to the consumers in a local market. (McDonald’s)

53
Q

What is Global Governance ?

A

A movement of political integration aimed at negotiating responses to problems that affect more than one state or region.

54
Q

What are NGOs ?

A

Any non-profit, voluntary citizens’ group with a common interest, which is organised on a local, national or international level.

55
Q

What are the Different roles of NGOs ?

A

Protection (providing relief)
Prevention (reducing vulnerability)
Promotion (increasing the chance of opp)
Transformation (protecting these people)

56
Q

What are the Global Commons ?

A

oceans
atmosphere
Antarctica
outer space

57
Q

Describe Antarctica’s climate ?

A
  • average temperature is - 49°C, though it can be as low as -89°C
  • mean annual wind speed of 50 miles per hour (mph) resulting from the convergent katabatic winds; gales can reach 200 mph
  • mean annual precipitation, especially in the interior, is low, at less than 50mm per annum
  • it can best be described as a polar desert.
58
Q

What is the IWC ?

A

The International Whaling Commission (1946). Led to an end to most whaling in 1985. In 1994 the IWC created a Whale Sanctuary, area of 50million sq km. Only Japan opposed the agreement.

Japan, Norway and Iceland for the main pro-whaling group.

59
Q

What is the importance of Krill ?

A

Krill are a tiny strip which swim in massive numbers and underpin the entire food web. A sudden demand in Krill has put this species at risk and entire food web.

60
Q

What are the Impacts of Climate Change on the Antarctic ?

A

The western Peninsula has experienced a 3ºC increase in the region in the last 50 years. This has lead to a change in the;

distribution of penguin colonies.

melting of snow and ice has increased by plant colonisation.

decline in the abundance of Krill.

glaciers and ice shelves has retreated.

ocean acidification

61
Q

Why is the East of Antarctic unique ?

A

There has not been any significant loss of ice. This is due to;

Increasingly westerly winds around the southern ocean.

more rain and snow resulting form climate change

increased melting of continental land ice creates more floating icebergs which contribute to sea ice formation.

62
Q

Describe the mineral resources in the Antarctic ?

A

Large stores of silver, copper and iron

63
Q

What are the 3 types of tourism in Antarctica ?

A
  • camping trips for naturalists, photographers and journalists
  • ship-board visits, largely by cruise ships but also by converted Russian ice breakers
  • over-flights - these have restarted after an interval of nearly 20 years following the crash of an Air New Zealand DCI0 on Mount Erebus, in which all passengers died
64
Q

What are the findings of Antarctic tourism ?

A
  • Antarctic tourism is a well-run industry with a sound record for environmental concern.
  • Guidelines are widely accepted by operators and tourists alike.
  • Damage to vegetation (especially the fragile moss mat) is due to natural causes, such as breeding seals Tourists are usually scrupulous in not walking on areas of fragile vegetation.
  • No litter is attributed to tourists; they are more concerned about the waste they see around the scientific research stations
  • Virtually no stress is caused to penguins by tourists visiting their breeding colonies. However, tern colonies seem to suffer from disturbance.
  • Seals are largely indifferent to the presence of humans
65
Q

What are the Concerns about Antarctic tourism ?

A
  • The Antarctic ecosystem is extremely fragile - disturbances leave their imprint for a long time (footprints on moss can remain for decades).
  • The summer tourist season coincides with peak wildlife breeding periods.
  • The land-based installations and wildlife are clustered in the few ice-free locations on the continent.
  • There is the possibility of land-based tourism being developed.
  • The demand for fresh water is difficult to meet.
  • There is evidence that over-flying by light planes and helicopters causes some stress to breeding colonies of penguins and other birds.
66
Q

Define Adaptation

A

Any alteration or adjustment in the structure or function of an organism or system which enables it to survive better in changing environmental conditions.

67
Q

Define Mitigation

A

Actions to reduce the impacts

68
Q

Define ecological Resilience

A

The amount of disturbance that an ecosystem can withstand without changing existing structures and processes.