Globalisation Flashcards
How has transport contributed to globalization?
improved aviation and containerization = $6.4 trillion air cargo in 2012
How has technology contributed to globalization?
Napster influenced growth of e-commerce = 150m worldwide internet users
Pros and cons of World Bank
+ lends £ for development
- invests in fossil fuels
Pros and cons of IMF
+ bails countries like Greece
- imposes strict regulations like cutting back spending on healthcare
Pros and cons of WTO
+ helps resolve trade disputes
- failed to subsidize richer countries like the UK
EU contribution to globalization
free trade + movement of people
ASEAN contribution to globalization
creating peace: not creating nuclear weapons
China’s Open Door Policy
by 1990s: 50% of China’s GDP were generated in SEZ’s
UK’s Sunday Trading Law
attracted TNCs and FDIs to invest into country
Ways of measuring globalization
AT Kearney + KOF Index
AT Kearney
12 indicators across:
- economic integration
- technological connectivity
- political engagement
- personal contact
KOF Index
24 indicators across:
- social globalization
- economic globalization
- political globalization
KOF Index con
bias: Ireland on top as FDI is a large % of economic globalization
AT Kearney (and KOF Index) con
who decides which indicator is most important?
TNCs cons in Nigeria
- Ogale community of 40 000 - majority are fishermen - Shell oil spillages pollute waters = damaging fishing industry
- 3-inch refined oil floating on water = damaging water supply = threatening health
Glocalisation examples
- Halal meat in Dubai by McDonald’s
- MTV - appropriate for countries with strong faiths in East Asia
Outsourcing
getting a different company to produce a piece of your product for you
Off-shoring
having a factory in a different country
TNCs general cons
- exploiting workers
- low pay
- bad working environment - unsafe conditions
- long hours of work