Globalisation Flashcards
What are some examples of flows between countries?
Culture People Trade Money eg investments Technology Medicine
What is capital flows?
Any type of movement of money, loan and investment
FDI, foreign direct investment
Aid
Remittance payments
What is a trade bloc?
Free trade, no tax or tariff between countries eg EU
Whats considered a flow of service?
Finance
Construction
Engineering
Shipping
Whats considered a flow of information?
Business
Research
Language
Culture
What is global marketing?
Marketing on a global scale, global operation.
Eg advertising, media planning, market research, public relations
What share of high income countries live in extreme poverty?
1%
What % of the population don’t have enough food to meet their daily needs?
11%
What % of companies have a women’s leader?
18%
Is the gap between MEDCs and LEDCs growing or decreasing?
Growing
Whats the average that people live on a month in Indonesia?
$100-$300
What countries are experiencing high GDP growth rate?
China, Africa, India
What type of countries are China, Africa and India?
Periphery
What countries are core countries?
USA
UK
Which countries are experiencing low GDP rates?
USA
UK
Whats happened to poverty in sub-saharan Africa?
Remains at 50%, same as in 1981
How many people live on less then $10 a day according to the world bank?
1.4 billion
Whats the gini coefficient?
A scale between 1-10 which expresses the level of inequality within a country
What does 0 on the gini coefficient scale mean?
Perfect equality, national income is equally divided
Why do countries trade?
To make money
Maintain relationships and alliances
Allow cheaper labour costs
What is comparative advantage?
An economic law referring to the ability of any given economic factors to produce goods and services at a lower cost
What is meant by protectionism?
Involves any attempt by a country to impose restrictions on trades of goods and services
What are some examples of barriers to trade?
Import license
Import quotas
Subsides
What is fair trade?
Made to help small scale farmers to allow them to earn an income through consumers paying a premium for the product
What is free trade?
Trade with no tariff or any type of protection
When was the world trade organisation made?
1995
What countries export bananas?
Columbia
Ecuador
Honduras
Who import bananas?
Germany
EU
USA
What are some benefits of growth on developing countries?
Higher value exports
Improves living standards
Becomes more diverse
Improves infrastructure
What are some costs of trade on developing countries?
Inequalites in income can increase
TNC take profits from country
TNC pay workers low wages
