Globalisation Flashcards
What are some examples of Flows?
-Culture
-Ideas
-Good and Services
-People
-Money
What is Agglomeration?
Things located next to each other.
What are the Positives of a competition led market?
-Increase in consumer choice
-Decrease in prices
-More innovation as they’re competing so have to make it better
-State expenditure decreases (government, less taxes)
What is a Negative of a competition led market?
-No equal access
What is a Trade Bloc?
A type of intergovernmental agreement where barriers to trade in a world region are reduced or eliminated.
What are the Positives of Trade Blocs?
-Compromise and concession.
-National Firms can merge to form transnational companies.
-Protection from foreign competitors and political stability.
-Bigger markets (but no extra taxes).
What are the Negatives of Trade Blocs?
-Loss of sovereignty
-Interdependence
What is a Switched On place?
A place that is strongly connected to other places through the production and consumption of goods and services
What is a Switched Off place?
A place that is poorly connected and isolated from global networks.
What is Economic Globalisation?
The growth of TNCs accelerates cross-border exchanges of raw materials, components, goods, shares, portfolio investments and purchasing.
What was India’s Globalisation Index in 2020?
63 compared to the world average which was 61.4.
What was India’s GDP in 2021?
$3.71 trillion at a growth rate of 8.9%.
Where did India’s IT Industry start its success?
Bangalore
What is an example of a TNC which is located in India?
Apple
-Apple opened its first development centre in Hyperabad in 2016.
-This facility alone employes around 4,000 people.
-Apple has also opened an app design development accelerator in Bangalore.
What is an Advantage of TNCs locating in Developing/Emerging countries?
The TNCs encourage better education as many of them offer training to employees.
What is a Disadvantage of TNCs locating in Developing/Emerging countries?
Many TNCs are owned by foreign countries so economic leakage could occur, where profit is sent abroad. This means that less profit goes to the host country, therefore slowing down development.
How has India Benefitted from Globalisation in terms of Infrastructure Investment?
Infrastructure Investment: Globalisation can lead to increased trade and investment opportunities which allows there to be more job opportunities.
How has India Benefitted from Globalisation in terms of Waged Work?
Waged Work: Low skilled work has decrease in India, as primary jobs such as agriculture, have declined by less than 15% whilst high waged work has gone on the rise, holding 40% of India’s IT industry. India’s It service companies are now some of the world’s best, employing nearly 10 million
How has India Benefitted from Globalisation in terms of Poverty Reduction?
Globalisation leads to more jobs which decreases poverty levels and develops the country so it has more money so they can invest into improving living conditions.
How has India Benefitted from Globalisation in terms of Educations and Training?
Some big benefits of globalisation in education include greater awareness of other cultures, better transnational collaboration, reduced discrimination and racism, the spread of technology and innovation, and higher standards of living across India. People receive a better education so therefore can have better jobs.
What are the costs of Globalisation in India in terms of Loss of Productive Land?
Globalisation has meant that more land is being used to build new infrastructure so there are now less greenfield sites that could’ve been used for agriculture to feed the growing population.
What are the costs of Globalisation in India in terms of Unplanned Settlements?
Globalisation has also meant an increase in technology like machines which has left many unemployed as their job was replaced. 1/6 Indian’s live in slums, making them more exposed to health risks and they have little access to economic and educational opportunities.
What are the costs of Globalisation in India in terms of Environmental and Resource Pressure?
40% of India’s forests are degraded due to globalisation and logging. In 2020, more than 3.8 million people were displaced from their homes due to natural disasters.