globalisation

Question 1

what is globalisation

Answer 1

countries become more interdependent ton each other linking cultures, economies and politics

Question 2

what is a global system

Answer 2

any organisation, groupings, or actives that link different parts of the world

Question 3

what is global governance

Answer 3

attempts to regulate global systems and activities (eg. UN, IMF and World Bank) interventions may also impact people and the environment

Question 4

when did globalisation start?

Answer 4

globalisation is not a new concept (slave trade, empires)
the concept of globalisation developed in the 2960s after the Canadian Marshall McLuhan used the term ‘global village’ to describe the breakdown of spatial barrier around the world

Question 5

what did Marshall McLuhan argue

Answer 5

similarities between places were greater than differences between them and that much of the world had been caught up in social and cultural processes.
he suggested that economic activities operated at a global scale and that other scales became less important

Question 6

what is economic globalisation caused by

Answer 6

growth of TNC’s

Question 7

what is social globalisation caused by

Answer 7

western culture, art, media, sport and leisure

Question 8

what is political globalisation caused by

Answer 8

growth of western democracies and their influence on poor countries

Question 9

what does the KOF index of globalisation measure

Answer 9

• economic globalisation - long distance flows of capital, goods, services and information
• social globalisation - spread of ideas, information, images and people
  -political globalisation - spread of government policies

Question 10

what fraction of financial investments are international transactions

Answer 10

1/3

Question 11

what did the flow of global finance increase from in 2002 to 2012

Answer 11

$2.5. trillion to $4 trillion (60% increase)

Question 12

what was the global pattern of flows of capital in 2002

Answer 12

dominant flows between N America and W Europe, some flows between NE Asia and Europe and America

Question 13

what was the global pattern of flows of capital in 2012

Answer 13

dominance of N America and W Europe declined.
increasing flows between W and E Europe
Chinese region increased in size and number of flows
overall financial flows are becoming more connected regionally

Question 14

what is the pattern of flows of labour

Answer 14

people are moving from poorer to richer countries where there are more job opportunities
largest migrant flows are between Mexico and USA (2 million)

Question 15

What is the main aim of NAFTA?

Answer 15

To increase trade between the countries in this bloc

Question 16

What does the WTO oversee?

Answer 16

International trade and access to markets

Question 17

IMF

Answer 17

International Monetary Fund

Question 18

what is the IMF

Answer 18

A regulator of financial flows and stabiliser of the system

Question 19

Explain OPEC

Answer 19

Organisation of Petroleum Exporting Countries
A group of countries that focus on the global trade of oil

Question 20

Examples of areas that are part of OPEC

Answer 20

Middle East, South America, Africa

Question 21

FDI

Answer 21

Foreign Direct Investment

Question 22

What is FDI?

Answer 22

Investment made mainly by TNCs (and sometimes governments) based in one country to the physical capital or assets of foreign enterprises

Question 23

TPP

Answer 23

Trans-Pacific Partnership

Question 24

What is TPP?

Answer 24

A free trade agreement between 12 countries
- Japan, Malaysia and New Zealand
NOT china

Question 25

TTIP

Answer 25

Transatlantic Trade and Investment Partnership