Globalisation Flashcards
sustainability
meeting the needs of current and future generations through simulateous environmental, social and economic adaptation/improvement
three examples of how globalisation is occurring at the present time
netflix
news
social media
identify factors that have enabled globalisation to occur
improvements in transport and telecommunications technologies
strengthened relationship between countries
the rise in multinational corporations operating on a large scale in the global marketplace
Globalisation
the increased interconnectedness and interdependence of people and countries resulting from the expanding integration of trade, finance, people, and ideas in one global marketplace.
advancements in technology, communication, science, transport, and industry have accelerated the pace of this integration over the past few decades
diffusion
transfer or dispersal of cultural elements from one group of people to other groups of people
adaptation
alteration or adjustment in response to a changed environment
friction of distance
based on the notion that distance, usually requires some amount of effort, energy time, and/or other resources to overcome.
due to the ‘friction’, spatial interactions will tend to take place more often over shorter distances; the amount and intensity of interaction will decay with distance
centralisation
concentration of an activity in fewer locations, and often in larger settlements
comparative advantage
ability of an individual, group, or country to carry out a particular economic activity (such as making a specific product) more efficiently than another activity
time space convergence
a lessening of the distance between two points when this distance is measured in terms of time.
relatively globalised citizens
the very rich
the healthy qualified
the healthy
the young
those with global linguistic competence
those without strong responsibilities
those from liberal democracies
those with extensive network
relatively localised citizens
the very poor
the unqualified/illiterate
the sick and disabled
the old
those speaking only minority languages
those tied to family/country
those from totalitarian states
those with only local networks
world cities
world cities are cities that dominate in terms of economic and cultural matters.
world cities are usually the centres of multinational corporations which are located in world cities due to the location of the stock exchange and major banks.
multinational corporations require large amounts of capital hence the requirement to locate near financial institutions
what do world cities tend to have
world cities tend to have the best medical facilities, universities, top-end fashion shops, and high median house prices.
what are three world cities that are important and why
three world cities that dominate the financial world are London, New York, and Tokyo due to the time zones where they are located, a major stock exchange is operational at any time during the day.
