Globalisation Flashcards
What is globalisation?
‘The increasing intergration of economies around the world, particulary through the movement of goods, services, and capital across borders. There are also broader cultural, political and environmental dimensions of globalisation’ International Monetary Fund
What is capital (a flow of movement)?
At a global scale, major capital (money) flows are routed daily through the world’s stock markets. A range of buisnesses, including investment banks and pension funds, buy and sell money in different currencies to make profits.
How are commodities (a flow of movement) increasing globalisation?
Valuable raw materials such as fossil fuels, food and minerals have always been traded between nations. Flows of manufactured goods have multiplied in size in recent years, fuelled by low production costs in China and even lower-waged economies, such as Bangladesh and Vietnam.
How are tourists (a flow of movement) increasing globalisation?
Many of the world’s air passengers are holiday makers. Budget airlines have a ‘pleasure periphery’ of distant places within easy reach for the moneyed tourists of high-income nations. Increasingly people from emerging economies travel abroad too, using budget airlines such as AirAsia and East Africa’s Fastjet.
How is information (a flow of movement) increasing globalisation?
The internet has brought real-time communication between distant places, allowing goods and services to be bought at just the click of the button. Social networks have ballooned in size and infleunce, with Facebook gaining 2.5 billion users by 2019. On demand TV has increased data usage further, for example, Netflix had 190 million subscribers in 2019.
How are migrants (a flow of movement) increasing globalisation?
Of all global flows, the permanent movement of people still faces the greatest number of obstacles due to border controls and immigration laws. As a result, most governments have a ‘pick and mix’ attitude towards global flows: they embrace trade flows but attempt to resist migrant flows unless there is a special need (such as Qatar’s encouragement of Indian construction workers).
What is interdependency?
If two places become over-reliant on finical and/or political connection with one another, then they have become interdependent.
What is the combinded effect of the global flows?
Makes places more interconnected. One result of this is increased interdependency of places.
What is a spatial division of labour?
The common practice among TNCs of moving low-skilled work abroad (or ‘offshore’) to places where labour costs are low. Important skilled management jobs are retained at the TNC’s headquarters in its country of origin.
What has transport been essential in allowing?
In allowing TNCs to establish a spatial division of labour on a global scale.
Important innovations in transport: Steam power?
Britian became the leading world power in the 1800s using steam technology. Steam ships moved goods and armies along trade routes into Asia and Africa.
Important innovations in transport: Railways?
In the 1800s, railway networks expanded globally. By 1904, the 9000km Trans-Siberian Railway connected Moscow with China and Japan. Today, railway building remains a priority for governments across the world. China has constructed 35,000km of high-speed railway since 2000.
Important innovations in transport: Jet aircraft?
The arrival of the intercontinental Boeing 747 in 1960s made international travel more commonplace, while recent expansion of the cheap flights sector, including EasyJet, has brought it to the masses in richer nations.
Important innovations in transport: Container shipping?
Around 200 million individual container movements take place each year. Some commentators describe shipping as the ‘backbone’ of the global economy since the 1950s. The South Korean HMM Algeciras is 400m long and can carry 23,964 containers.
What is time-space compression?
Heightened connectivity chnages our conception of time, distance and potential barriers to the migration of people, goods, money and information.
What is the shrinking world effect?
Due to technology, distant places start to feel closer and take less time to reach.
Important elements of ITC growth: Broadband and fibre optics?
With the advent of broadband internet in the 1980s and 1990s, large amounts of data could be moved quickly through cyberspace. Today, enormous amounts of data are conveyed across the ocean floor by fibre optic cables owned by national governments and TNCs such as Google.
How does technology growth contribute to social globalisation?
The maintaining of long-distance social relationships through ICT use is factor that supports migration. Since 2003, Skype has provided a cheap and powerful way for migrants to maintain strong links with family they left behind.
How does technology growth contribute to cultural globalisation?
Cultural traits, such as language and music, are adopted imitated and hybridised faster than ever before. Since 2017 the Chinese video-sharing social media app TikTok has spread to over 150 countries and over 70 languages.
