Globalisation Flashcards
What is globalisation
Globalisation is a complex process that drives not only economic but also social cultural environmental and political change.
What is franks dependency theory
Global power is concentrated in a core of highly developed economies and peripheral less developed economies suffer lack of investment leakages and outmigration
What is FDI
An investment made by government or a large company into physical capital or assets of a foreign enterprise. Eg Japan has the highest outflows but the US EU and China are the recipients of FDI.
What process is the repatriation of profits
This is often a flow back to a developed country, termed leakage from the economy of a host country
What is aid
Aid is the financial support to poorer countries from rich countries
Where are the main flows of labour
Latin America to North America
Neighbouring counties in Africa
Between European nations
From Africa + South Asia to Europe
What is containerisation
A systems of standardisation that uses large standard sized containers for transport
Has flows of goods Improved over time
Yes - commercial jet aircraft, super freighter (MSC Irina)
Which organisation helps the flow of goods
WTO (98% of trade is controlled by them)
What is a flow of service
Low level : banking and advertising
High level: financial services and investment services
What is footloose
How banking can operate anywhere
What are conglomerates
Con (joint) a number of other business e.g. virgin
What is a flow of information
The transfer of cultures, ideas, design, language etc.
Digitalisation and satellite information has allowed for more flows of information and easier flows - more widespread
