Globalisation Flashcards
define globalisation
refers to the increasing interdependence of economies around the world, particularly through the movement of goods, services and capital across boarders
define remittance
a transfer of money by a foreign worker to his or hers home country
positives of globalisation
overall economic growth, aids economic development in LICs, cheaper and wider range of goods for consumers
negatives of globalisation
loss of sovereignty, cultural dilution, limits development in the poorest of places
define time-space convergence
with improvements in communication systems and methods of transport, time-distance diminishes (friction of distance is lessening)
how has transport facilitated globalisation?
improvements in infrastructure to allow larger and faster vehicles, both capacity and speed of types of transport have increased
how has telecommunications facilitated globalisation?
spread of infrastructure to reach more people, emergence of mobile technology
What is economic liberisation
Where governments lift restrictions on the way companies and banks operate, example is the city of london now is global hub for financial services
What is privatisation
The selling of state-owned assets to private companies
What is a special economic zone
An industrial area, often near a coastline, where favourable conditions are created to attract foreign TNCs
What is the A.T.Kearney index
measures economic intergration, personal contact, political engagement, technological connectivity
What is glocalisation
Refers to the changing the design of products to meet local tastes or laws
How can the size of TNCs be measured?
Foreign assets, market capitalisation and revenue
Benefits of growth in Asia
Investment in infrastructure, poverty reduction, increase in urban incomes and better education
Costs of growth in Asia
Loss of productive farmland, increase on unplanned settlements, pollution and health problems
Define global shift
Describes the international relocation of different types of industrial activity- especially manufacturing
Winners of the global shift
China(other emerging economies)
Wealthy elite
TNCs
Emerging middle class
Losers of the global shift
Rural China
Poor people in rich countries- low wage and low skill
Deindustrialised cities
Sub-Saharan Africa
What drives urbanisation
Rural to urban migration, natural increase
What types of migrants are attracted to global hubs
Elite international migrants, low-waged international migrants, internal migrants
Benefits of megacities
Cities often have lower levels of infant mortality and higher levels of life expectancy than rural areas
Social problems of megacities
Becomes a magnet for immigration, which becomes a particular problem when inward movement outstrips the pace of economic and social development
Environmental problems of megacities
In the megacities of the developing world, the highest levels of water pollution are in Dhaka,seoul,karachi and manila
What is a global hub
A highly globally-connected city
Economic benefits to the destination for international migration
Often fills undesirable posts, skills gains at little costs
Economic benefits to the source for international migration
Reduced unemployment, returning migrants bring back new skills
Economic costs to the destination for international migration
Costs of educating children, displaced local labour
Economic costs to the source for international migration
Loss of young labour, loss of skilled labour
what is Cultural diffusion
spread of cultural beliefs and social activities, the mixing of world cultures
what is Cultural erosion
the reduction in cultural diversity through the popularisation and diffusion of a wide array of cultural traits. results in the loss of indigenous people