Globalisation Flashcards
What is globalisation?
Globalisation is the term used to describe the way countries are becoming more connected economically and culturally. Through trade, or culture, or socially.
Why has globalisation increased? Name some factors:
Globalisation increased because of improvements in transportation. The cost of transporting goods between countries has decreased (because of larger cargo ships). Also there has been a rapid growth of air travel, enabling a greater movement of people and goods across the globe. Improved technology to make it easier to communicate, like the internet.
[Advance in transport, technology and communication]
What is a TNC?
A TNC (transnational corporation) is a company that operates in more than one country. They usually have factories in countries that are not as economically developed because labour is cheaper. Also there is a creation of jobs, improve education and skills. Also a cheaper plot of land. Minimum wage.
Name an example of a TNC:
Nike, Primark
What is a sweat shop?
A sweatshop is a factory or workshop, especially in the clothing industry, where manual workers are employed at very low wages for long hours and under poor conditions.
What is interdependence?
The reliance of a country, especially in terms of trade and aid, on other countries in the global economy
When did the Rana Plaza disaster occur?
24th of April 2013
What is a multinational company?
A company that operates in more than one country across the world.
Why would a TNC have their headquarters in a LIC rather than a HIC
Its cheaper to produce goods / Skilled, cheap labour
What is the definition of fast fashion?
Inexpensive clothing produced rapidly by mass-market retailers in response to the latest trends.
