Globalisation Flashcards
1
Q
What is globalisation defined
A
the increasing interdependence of world economies for trade
countries are now closer and act more like a single market
2
Q
What 5 thing have increased globalisation
A
MNC’s - expanding
New technology in communications
Faster and cheaper transport links - containerisation
Growth of free trade
Globabl institutions
3
Q
What are the two global institutions
A
IMF - international monetary fund
WTO - world trade organisation
4
Q
What is a developed country
A
one with high GDP and mature infrastructure e.g. UK
5
Q
What is a developing country
A
one with lower GDP, incomes and weaker infrastructure e.g. Brazil
