Globalisation Flashcards
What is a flow?
A transport
Name 3 flows.
Internet, migration and tourism
What are the 4 types of flows?
commodities, finance, information, migration and tourism
What are 4 types of globalisation?
- Culture; western ideas,
- social; social media,
- political; trade blocs,
- economic; TNCs and businesses
What is a trade bloc?
countries do trade with little or no barriers
List 8 things that arise as a result of globalisation.
Steam power Jet aircraft Railway Broadband GPS Internet Container ships Telegraph
What is the time-space compression?
The world seems smaller.
What does censorship link to?
China has blocked things like Google and Facebook, this stops access of outside.
What are special economic zones?
Zones where there is a lack of tariffs, allows TNCs to come, examples include Jebel Ali that is connected to British waterworks central city and subsidies things.
What is the open door policy?
China did equal trade with countries from outside, China treated the countries equally, this also led to trade protectionism which means promoting domestic trade and companies via tariffs etc.
What occurs in trade blocs?
Lack of tariffs
Free movement of citizens within countries
Removing quotas off goods
Taking advantage i.e. buying for cheap and selling high price.
Define free market liberalisation.
control of goods i.e. prices are controlled by the company rather than the government.
Define privatisation.
Companies owned by the government were sold to businesses.
Define FDI.
Control of a business in one country by someone in another country.
What is the IMF, WTO and world bank?
Reduce tariffs provide incentives so countries have a boost.
Describe AT Kearney index.
Political engagement, personal contact, economic integration, technological connectivity. This index is holistic