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Human Geography > Globalisation > Flashcards

Globalisation Flashcards

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1
Q

Define capital flows

A

The movement of money for investment, trade, producing goods and providing services

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2
Q

Define globalisation

A

National economies, societies and cultures becoming increasingly integrated through global trade, transport and immigration

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3
Q

Define international trade

A

Exchange of capital, goods and services across international borders

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4
Q

Define labour

A

Factor of production - physical and mental effort used to create goods or provide services

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5
Q

Foreign direct investment

A

Net transfer of funds to purchase physical capital (e.g. factories and machines)

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6
Q

Name the 4 factors of production

A
  • Land
  • Labour
  • Capital
  • Enterprise
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7
Q

Describe land as a factor of production

A

All natural resources provided by the earth

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8
Q

Describe labour as a factor of production

A

Human resource available

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9
Q

Describe capital as a factor of production

A

Any physical resource which is regarded as a man made aid to production

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10
Q

Describe enterprise as a factor of production

A

Human capital - establishing businesses and organising the production of goods and provision of services

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11
Q

Define BRIC

A

Brazil, Russia, India, China - economies have advanced rapidly since the 1990s

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12
Q

Define Mint

A

Mexico, Indonesia, Nigeria, Turkey - more recently emerging economies

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13
Q

Define diaspora

A

A large group of people with similar heritage who have moved to places across the world

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14
Q

Define leakages

A

Loss of income - often resulting from a profit setback

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15
Q

Define repatriation profit

A

TNC’s investing in overseas production, taking profit made back to the richer countries

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16
Q

Define aid

A

Financial support for poor countries:

  • contributions made by a number of richer countries (UN)
  • bilaterally from one government to another
17
Q

Describe the pattern of flows of labour

A

People move less easily than capital due to restrictions on immigration.
In recent years there has been a major rise in the number of migrants crossing international borders seeking better employment.

18
Q

Describe the movement of migrants

A

From developing countries to richer areas (e.g. South Asia, Africa to North America)
Movement to the oil-rich gulf states where the construction boom has provided many jobs (e.g. Qatar, UAE, Saudi Arabia)

19
Q

How has the movement of products been facilitated, specifically for developing countries

A

Reductions in costs of trade:

  • Transactions
  • Tariffs
  • Transport and time costs
20
Q

How has reducing transaction costs helped flows of products?

A

Improvements in flows of data and ease with which capital can be transferred

21
Q

How has reducing transport and time costs helped flows of products?

A

Containerisation has enabled more long-distance flows of products
Air transport provides speedy transport and reduces waste of perishable goods.

22
Q

How has reducing transport and time costs helped flows of products?

A

Containerisation has enabled more long-distance flows of products
Air transport provides speedy transport and reduces waste of perishable goods.

23
Q

Define containerisation

A

System of transport which uses large steel containers which can be transferred between ships, trains and lorries.
Cheap and efficient transport.

24
Q

Define protectionism

A

Policies imposed by the government placing restrictions on international trade of goods and services, with the intention to protect home-based industries.

25
Q

Define tariff taxes

A

Placed on imported goods with the intention of making them more expensive so they do not sell for less than home-based goods.

26
Q

List the key factors which drive the process of globalisation

A
  • Travel, Trade, TNC’s, Transport
  • Communication, Collapse of communism, Containerisation, Capital investment
  • Global marketing
27
Q

How has government support aided globalisation?

A

Increasing exports from the country

28
Q

What financial methods have been put in place to aid globalisation?

A
  • Deregulation of financial markets

- Advances in technology has made international trading easier and faster

29
Q

What transport methods have been implemented to aid globalisation?

A
  • Larger aircrafts, integrated ATC networks
  • Use of standardised containers
  • High speed rail networks
30
Q

Describe the JIT approach

A

Just In Time
System of individual components from different suppliers arriving when they are needed. Cutting the quantity of goods needed to be stored.

31
Q

What are the negatives of the JIT system?

A
  • If one station in production stops the whole assembly stops
  • Suppliers must be constantly supplying
32
Q

How has technology aided globalisation + give examples?

A

Making financial information and money easily accessible across the world - deepening connections between countries

  • Swift: People can buy and sell things globally without having to meet the buyer
  • Somalians in USA: Remittances can be sent home quickly and easily
33
Q

How has transport aided globalisation + give examples?

A

Transportation improvements have reduced the cost of production and distribution - process is now cheaper and faster

  • Faster and bigger planes
  • Containerisation: Universal container size makes transportation easier as less trips are needed to transport the same amount
34
Q

How has security aided globalisation + give examples?

A

Global systems in place to limit disagreements and wars

  • The UN Security Council: Ivory Coast peace keeping increased social cohesion leading to an 80% reduction in social conflict
  • Use of CCTV and security devices
35
Q

How has communications aided globalisation + give examples?

A
  • Satellites and fibre optic cables have enables the growth of internet and mobile phone systems
36
Q

How has management and information systems aided globalisation + give examples?

A

The process of globalisation has been massively accelerated by the way companies managed flows; labour, products, services, information and capital
- Outsourcing (Indian call centres): Hiring other companies to complete tasks that are essential but not necessary for the company to complete themselves

37
Q

How have trade agreements aided globalisation + give examples?

A

Make international trading less expensive and easier
- Trade agreements: Restrictions can be removed or lessened to benefit the parties involved. All trade agreements are overlooked by WTO to ensure they are fair

38
Q

What are the risks of globalisation?

A

Standardisation of goods and cultures - leads to cultural homogeny
Distinction between countries is diminishing
Risk of interdependence between countries failing

Human Geography (23 decks)

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