globalisation

Question 1

globalisation

Answer 1

process where national economies, societies and cultures have become increasingly integrated through the global network of trade, communication, transport and immigration

Question 2

flows around the world

Answer 2

• information/technology and capital
• products and labour
• services and global marketing
• patterns of production/distripution and consumption

Question 3

flows of labour

Answer 3

• resitrcitions on immigration
• flows from LIC to HIC
• movement within middle east with oil rich countires

Question 4

flows of products

Answer 4

• international movement facilitated by reduction of costs
• containerisation
• WTO reduce tarrifs

Question 5

flows of capital

Answer 5

deregulation of financial markets
- FDI
- repatriation of profits
- aid
- remittance

Question 6

flows of capital in global economy

Answer 6

IMF: loans to stabilize economies
WB: development loans/ disaster relief
core regions send remittance and fdi to periphery
- periphery provide leakages and labour/migration

Question 7

flows of services

Answer 7

high level services - finance, investment and advertising
low level services - banking, tourism, communication

Question 8

flows of information

Answer 8

govnerned by speed of data and communication
- improvement of networks
- live media coverage

Question 9

somalia remittances

Answer 9

40% rely on remittances to meet basic needs
- 80% of all investment
- informal economy with little regulation
- lack of anti money laundering laws
- remittances end up with terrorist groups

Question 10

global marketing

Answer 10

a company views the world as a single market
- economies of scale: cost advanatges

Question 11

patterns of production

Answer 11

the stage at which goods are manufactured
- global shift: proportion of global manufacturing in NIC
deindustrialisation: global shift result in key industrial areas

Question 12

BRIC

Answer 12

brazil, russia, india and china (advancing economies)

Question 13

diaspora

Answer 13

large groups with similar heritage who migrate

Question 14

MINT

Answer 14

mexico, indonesia, nigeria and turkey (emerging economies)

Question 15

containerisation

Answer 15

standardised transport for goods across the world
- reach isolated areas
- cheaper

Question 16

factors in globalisation

Answer 16

1. new technologies, communications and information systems
2. global financial systems
3. transport systems
4. security
5. trade agreements

Question 17

new technologies, communications and information systems

Answer 17

• information shared easily and cheaply
• phones are most important for LDE
• connecting poeple with markets and trading opportunities

Question 18

global financial systems

Answer 18

• banks and services operate globally, linked by vital transmission systems that allow flows
• 2007 collapse of US house prices led to global banking crisis in 2008

Question 19

transport systems

Answer 19

• global transport network allows flows across vast distances
• less friction of time and space means new opportunities and threats

Question 20

security

Answer 20

• national boundaries are less of a barrier to more mobile and informed demographics
• cybersecurity is increasing impotrance to protect against leaks of information

Question 21

trade agreements

Answer 21

• without these, coutnries would resists foreign imports whilst favouring others
• WTO oversees 97% of world trade
• provides a forum for negotiations