Globalisation

Question 1

What is globalisation?

Answer 1

A process in which geographic distance becomes a factor of diminishing importance in the establishment and maintenance of cross-border economic, political, socio-cultural and environmental relations.

Question 2

What is economic globalisation?

Answer 2

Flows and exchanges of resources, goods, finance and services. Growth of TNCs, global markets and global finance. E.g. Remittances

Question 3

What is political globalisation?

Answer 3

The growth of political links between countries; trade agreements + growth of global political powers e.g. trade blocs > WTO

Question 4

What is cultural globalisation?

Answer 4

Global dispersal of products and cultural ideas, dominance of Western or American cultural traits e.g. facebook

Question 5

What is environmental globalisation?

Answer 5

Growth in global environmental problems and widespread industrial pollution, development of global environmental campaigns, policies and solutions e.g. WWF

Question 6

What is global interdependence?

Answer 6

Two countries become completely dependent on each other, either as a result of financial or political connections

Question 7

What year was the first email sent?

Answer 7

1971

Question 8

What year was facebook launched?

Answer 8

2004

Question 9

What year was the first ever non-stop Atlantic crossing?

Answer 9

1919

Question 10

What year did the Boeing 747 launch?

Answer 10

1970

Question 11

What year was the first non-stop UK to AUS flight?

Answer 11

2018

Question 12

What was the increase in bilateral trade as a result of containerisation?

Answer 12

320% in the first five years of introduction

Question 13

Who was the container invented by and when?

Answer 13

Malcom McLean 1956

Question 14

What standardisation do containers possess?

Answer 14

40 or 20ft boxes

Question 15

What is free trade?

Answer 15

Little or no restrictions on imports/exports between countries

Question 16

What is FDI?

Answer 16

A financial ‘injection’ by a TNC into a country’s economy

Question 17

When was the WTO founded?

Answer 17

1995

Question 18

What is a Bretton Woods institution?

Answer 18

Institutions that sought to avoid returning to the Great Depression of the 1930s

Question 19

What does the WTO seek to achieve?

Answer 19

They persuade developing countries to embrace free market economies and globalisation

Question 20

What % of the world’s trade is represented by the WTO?

Answer 20

97% of word trade

Question 21

What policy did China enforce?

Answer 21

1978 open door policy

Question 22

What reforms did China’s policy include?

Answer 22

Land reforms, migration reforms and economic reforms “SEZs”

Question 23

What increase in human development has China seen since 1980?

Answer 23

80%

Question 24

How many members are part of COMESA?

Answer 24

19 members

Question 25

What factors does the KOF index take into account?

Answer 25

Economic, political and social

Question 26

What score is given for KOF index?

Answer 26

Score from 0 (not globalised) to 100 (maximum)

Question 27

What does AT Kearny index measure?

Answer 27

Level of globalisation of cities

Question 28

What is an example of a NIC?

Answer 28

Taiwan

Question 29

What is an example of a RIC?

Answer 29

China

Question 30

When did Taiwan see rapid economic growth?

Answer 30

1960-1990 GDP 9%/yr

Question 31

How much did wages increase in Taiwan over 50 years?

Answer 31

10x

Question 32

What year did Ebbw Vale’s steel factory close?

Answer 32

2001

Question 33

What percentage of people in Ebbw Vale stated their health was bad or very bad in 2011?

Answer 33

11%

Question 34

What was the annual revenue from offshoring in India in 2009?

Answer 34

$60 billion

Question 35

What is outsourcing?

Answer 35

When TNCs contract another company to produce goods and services rather than do it themselves

Question 36

What is offshoring?

Answer 36

When TNCs move a function of the business to another country to reduce costs