Globalisation Flashcards
the increasing of interconnectivity between countries around the world through the movement of goods , services, capital and ideas across borders
globalisation
what are the four types of globalisation
economic , social , cultural and political
increase of TNCs and ITCs
economic globalisation
international migration , improvements in education and healthcare and social interconnectivity
social globalisation
increase in trade blocs , free trade agreements and global agreements (world bank , IMF ans WTO)
political globalisation
glocalisation , spread of western culture , hybridisation and the shrinking of time space compression
cultural globalisation
companies who operate in many countries producing and selling goods or services
TNCs
changing the design of a product or service to suit a local culture
glocalisation
give an example of glocalisation
McPaneer in India adopted by McDonalds to suit that audience
a group of countries or organisations working together for trading purposes
trading blocs
how were global connections traditional formed?
through trade , colonalism and co-operation between countries through international organisations
how are global connections maintained and improved today?
- lengthening connections (products being obtained from further away than ever before)
- deeping connections
- faster speed of connections (improvement of technologies or travel)
how many global flows are there?
five
name the five main global flows
tourism , migration , capital , commodities and information
money flowing through the stock market
capital flow
the trade of valuable raw materials such as fossil fuels
commodity flow
internet and real time communication
internet flow
permanent movement of people yet still facing challenges with border controls and immigration laws
migration flows
budget airlines making it possible to travel further and with more ease
flow of tourism
what has developments in transport led to
more trade , transport developments allows for a larger amount and value of trade
where is profit from often invested?
into developing transport technologies
what are the four transport developments between the 19th and 20th centuries
1 - steampower
2 - railway networks
3 - jet aircraft
4 - container ships
what did steam power do for trade?
steamships and trains moved good along trade roots quickly in the 1800s
when was steam power used
the 1800s
what did railway networks do for trade?
allowed for global links to form
when were railway networks developed
the 1800s
what is HS2
the new railway network transport development linking london and northern england together in half the time than what it takes currently
what has jet aircraft done for trade?
made international trade easier and faster
what was the famous intercontinental jet aircraft in the 1960s
intercontiental boeing 747
what has container ships done for trade?
allowed for more trade than ever before to be transported at any one time relatively quickly
what is the largest container ship as of march 2023
MSC Irina
how many containers can MSC Irina carry?
23,400
the reduction in time to reach other places around the world due to technological developments
shrinking world effect
what can the shrinking world effect also be called?
time-space compression
what are the five ways of ICT and global communications
1 - telephone and telegraph
2 - broadband and fibre optics
3 - GIS and GPS
4 - internet , social media and skype
5 - mobile phones
if a country sees globalisation as a threat what does it try to protect itself from?
FDI and TNCs
what does FDI stand for
foreign direct investment
what does TNC stand for
transnational corporation
what are some of the strategies national governments can use to boost growth of TNCs
- free trade blocs
- SEZs
- tax incentives
- free market liberalisation
- privatisation
- business start-ups
allows for allies and neighbouring countries to trade freely
free trade blocs
grow , demand , market , merge
what are the benefits of free trade blocs
- companies growing
- bigger market and more demand
- smaller companies can merge making TNCs to reduce costs
encourage
how can government polices help the growth of TNCs
growth of TNCs can be encouraged through a range of government policies
