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Human Geography > Globalisation > Flashcards

Globalisation Flashcards

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1
Q

What is Globlastion

A

the process by which national economies, societies id cultures have become increasingly integrated through the global network of trade, telecommunications, transport and immigration.

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2
Q

What is an economy of scale

A

Cost advantage of large scale output of a product as savings are made by spreading out the cost over more units

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3
Q

What are international flows of capital

A

All financial transfer between companies for investment, trade or production

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4
Q

What are remittance

A

Transfers of money from migrants to relatives back home

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5
Q

What is migration

A

Generally the outmigration of labour from poorer to richer nations

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6
Q

What is FDI

A

Foreign Direct Investments. Money or assets invested by TNCs in overseas enterprises. Either by merging with another company, setting up subsidiary companies or through shares.

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7
Q

What are the BRIC countries

A

Brazil, Russia, India and China. Rapid economic advances during 1990s

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8
Q

What are the MINT countries

A

Mexico, Indonesia, Nigeria, and Turkey. Recently emerging economies after the year 2000.

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9
Q

What is the repatriation of profits

A

Sometimes known as economic leakage. TNCs will extract profits from abroad and bring them back to their HQ

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10
Q

What is aid

A

International Monetary Fund which aims to allow economic stability and foster international trade.

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11
Q

What is IMF

A

International Monetary Fund which aims to allow economic stability and foster international trade.

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12
Q

What are the impacts of flows of labour

A

• Most migrants have some level of education
• Can afford to move, therefore not very poorest in giving nation
• Long-term issue as people stop sending remittances after 2/3 generations
• Inter-continental as well as long distance

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13
Q

What are the flows of services

A

An economic activity which is traded without the production of material goods

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14
Q

What are high-level services

A

Services to business, such as finance, advertising

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15
Q

What are low levels of services

A

Services to consumers, such as banking, travel, communication

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16
Q

What are the impacts of flows of services

A

• Easily traded in a globalised world, no locational grounding, offices and call centres can be located anywhere
• Low-level services may be outsourced to developing nations, eg call centres in India

17
Q

What are the impacts of flows of products

A
  1. Economic Impact: Product flows affect GDP, employment, and trade competitiveness.
  2. Market Dynamics: Influence supply, demand, prices, and market stability.
  3. Environmental Impact: Increase carbon emissions, resource depletion, and pollution.
  4. Social Impact: Affect consumer behavior, access to goods, and lifestyle changes.
  5. Technological Impact: Innovate logistics, automation, and real-time tracking.
  6. Policy and Regulation: Govern trade agreements, customs, and environmental standards.
18
Q

What are flows of information

A

Both migrants and technology allow flows of information, recent and historic migrants allow for multiculturalism and information sharing |

19
Q

What are the factors in globalisation

A

Communication development
Transport development
Financial development
Information Systems
Security development
Trade agreements
Management systems

20
Q

What are the financial factors in globalisation

A

Linked to technological developments as well as relaxed trade barriers allowed by governments, the movement of finances around the world has grown hugely.

21
Q

What is protectionism

A

Putting barriers in place to prevent and reduce trade in order to maintain internal markets and own manufacturing industries

22
Q

What is trade and finance liberalisation

A

Groups such as the WTO encouraging governments to remove tariffs and barriers to trade, to encourage free movement of goods

23
Q

What is the World Customs organisation

A

An intergovernmental organisation noted for its work in areas covering the development of international conventions, instruments and tools on topics such as commodity classification, valuation, rules of origin etc.

24
Q

What is the EU secure operator initiative

A

Set up and run by the EU in order to ensure a secure and reliable end to end supply chain for all goods and services.

25
Q

How is air freight a factor in globalisation

A

Faster, more places reached, fresh goods transported in large quantities, anywhere in the world, cheap, ease of ordering goods

26
Q

How are cargo ships a factor in n globalisation

A

Shipping containers are standardised so can be transported universally, large quantities of goods can be transported easily, takes a long time but cheap and easy form of transport.

27
Q

How are warehouses and robotics a factor in globalisation

A

Anything can be ordered from anywhere in the world and arrive potentially next day due to ease of robotics, less likely to make mistakes and very quick. Robots run 24/7

28
Q

How are budgets airlines a factor in globalisation

A

Makes more places accessible for normal people, travel on a budget, competition between airlines increases the number of destinations

29
Q

What are trade blocs

A

A type of intergovernmental agreement where regional barriers to trade (tariff + non-tariff) are reduced or eliminated among countries

30
Q

What are the advantages of trade blocs

A

One economy, one workforce
Travel between countries is easy, free travel Encourages growth of economies, risk sharing Trade of services and people as well as goods

31
Q

What are disadvantages of trade blocs

A

-Countries by trad blocs but not in them struggle to trade
-Hinders the development of countries outside the trade blocs
-Creates problems sharing, if one country suffers, all do
-Uneven reward for inputs
-Migration issues, often uncontrolled
-Lack of national control and identify

Human Geography (5 decks)

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