Globalisation Flashcards
Define globalisation.
The increased interdependency and interconnectedess between nations represented by an increase in the cross border flows.
Give the five cross border flows.
People, information, goods, services and capital
What is the depth of globalisation?
The degree to which the flows impact the lives of people within a nation.
What are cargo ship containers called
Standardised intermodal containers (20ft long)
What was containerisation?
The shift of global trade from classical freight ships to container ships holding many containers
Give an example of how containerisation makes trade easier.
iPads can be shipped from China to the UK for $1 per item
What percentage of goods are carried by container ships?
80%
What trading choke points are there that limit container ships?
Panama Canal- 15000 TEU limit (15000 containers per ship limit)
Straight of Malarca (s.China sea + Indian Ocean) has significant waiting times
Suez Canal can be blocked, 2021—blocked for 6 days
Why may some nations not benefit from containerisation?
42 landlocked countries— no access to sea trade e.g. Chad
How do fibre optic cables increase the flow of goods
Online shopping — Amazon
Better advertisements over media
Digital money transfers allow you to pay for goods to foreign nations
How do fibre optic cables increase the flow of services?
Teams/Skype/Zoom— allow home working / work with other nations
Increased customer services/ foreign call centres/ enquiries delivered online through website service
How do fibre optic cables contribute to the increasing flow of capital?
Online banking— money moved digitally
Stock investment or crypto currency
FDI is facilitated by moneys movement through fibre optic cables
How do fibre optic cables increase the flow of people?
Tourists can see holiday adds and make bookings online— increased tourism
Asylum seekers (MENA nations) exposed to safer locations images and stories— encourages movement to Europe
Economic migrants— job adverts application + interviews can all be done online
How do fibre optic cables increase the flow of information?
Facilitates information sharing via social media — Tik tok instagram Facebook
How fast and how much data is transferred through fibre optic cables?
99% of the worlds data travels across the 1 million km+ network of fibre optic cables at the speed of light
What is an example of how fibre optic cables facilitate the movement of people?
refugeeswelcome in European nations saw an increase in Syrian refugees moving across the Mediterranean.
In 2015 more than 1 million migrants made the journey across the Mediterranean