Globalisation Flashcards
Define globalisation
The widening and deepening of global connections, interdependence and flows (commodities, capital, information, migrants and tourists)
What are the five types of globalisation?
Economic, cultural, environmental, demographic, political.
What 3 changes happened during the 19th century that helped to accelerate globalisation?
Development of Telegraph, Railways and Steam Ships.
Define deindustrialisation
The decline of regionally important manufacturing industries.
Give pull factors for moving to an urban area
Job opportunities, access to services, better quality of life.
Why do elite migrants move to London?
Allows Russian elite access to global financial markets
What is meant by a global culture?
A group of shared cultural traits held in common by the global society.
Give physical reasons as to why some countries remain switched off.
High vulnerability to climate change, landlocked, poor resources for agriculture, lack of natural resources to help initially develop.
economic globalisation
the growth of TNCs, the spreading of investment, rapid growth in world trade
Cultural globalisation
people around the world using/having increasingly similar food, clothes, music, values; often ‘western’ in origin
political globalisation
the spread of ideologies, global organisations and the view of western democracies
environmental globalisation
the impact of pollution from one country to another, global warming seen as a global threat, international climate change agreements
demographic globalisation
increase in migration and tourism creating fluid an mixed populations
Why did globalisation accelerate in the 19th and 20th century?
developments in transport and trade like railways, telegraph, steam ships (19th) and jet aircraft, containerisation (20th) which has contributed to a ‘shrinking world’.
time-space compression
the reduction in the amount of time it takes to travel across the globe through the development in transport and IT. heightened connectivity and new inventions, different places feel closer together than in the past and take less time to reach.
what are tariffs?
fees paid on imported goods
what are quotas?
restrictions on the number of goods imported into a country
what are subsidies?
grants given to domestic industries to help them compete with foreign producers
what is FDI?
Foreign Direct Investment-controlling ownership in a business enterprise in one country by a company or organisation in another country. The WTO/IMF/World Bank support this, whilst governments must make it legal for foreigners to own and control businesses and property in their country.
Trade Blocs
voluntary international organisations that exist for trading purposes where barriers to trade are reduced.
free-market liberalisation
reducing and removing rules restricting economic activity and companies
privatisation
transferring ownership of a business, agency, service or property from the public sector to the private sector
What is an SEZ?
Special Economic Zone- an industrial area, often near a coastline, where favourable conditions are created to attract foreign TNCs. These conditions include low tax rates and exemption from tariffs and export duties with different regulations to other regions in the same country.