Globalisation Flashcards
What is neo-liberalism?
The movement of goods openly
What are the factors that cause globalisation?
Political ,Economic , Cultural/social
What is the positives of globalisation?
Jobs , new markets , income , increasing environmental collaboration (Antartic problem)
What is the negatives of globalisation?
Larger countries /TNCs have more influence
Distance decay?
Distance getting smaller because transport
Time space convergence?
Times getting smaller between countries
What are the different types of securities for globalisation?
Political, economic trade, transport protection, terrorism, national security,food
What are the socio-economic global players
TNCs , Governors (UN/World Bank/IMF/WTO), trade blocs (EU/NAFTA), BRICS
What are FTAs?
Free-trade-agreements
What the types of FTAs?
Bilateral, Multilateral
What is the Wallerstein theory?
Peripheral countries, semi-peripheral and CORE
What is the speciality of CORE countries?
Production processing , HIC
Speciality of peripheral countries?
Raw materials , climate
What are the advantages of TNCs on economies?
Job opportunities, investment , energy resources, technology resources, infostructure, FDI, Multiplier effect, Social improvements, economies of scale, comparative advantage
What are the divisions within the UN?
Security council, WHO, ILO,UNOP
What are the main forms of globalisation?
Political, economic , social
What is the global village?
The breakdown of spatial barriers of countries
What is glocalocalisation?
Adaptation of products to the local market
What is a trade bloc?
An arrangement among groups of nations to allow free trade
What are the disadvantages of TNCs?
Exploitation of workers, local resources exploited ( Coca-cola India 1978), profits go overseas, high prices for locals, increased national debt due to increased exports
What does NAFTA stand for?
North American Free Trade Agreement
How do trade agreements encourage globalisation?
Encouraging trade agreements by access to number of countries=> Increase investment and spending for goods. Movement of people freely=> Job opportunities
What is a bilateral agreement?
Bilateral trade is the exchange of goods between two nations promoting trade and investment.
What are the benefits of bilateral agreements?
Economic growth expansion, stronger trade relations , stable business environment , job opportunities
What are the negatives of bilateral agreements?
Higher costs , less influence for country’s , lack of market size as involves two markets
What is a multilateral agreement?
agreements, treaties, or actions that involve or include multiple parties or nations.
What are the positives of multilateral agreements?
fosters economic growth, healthy competition, and global cooperation.
What are the negatives of multilateral agreements?
Difficult to negotiate , and time consuming , hard to negotiate may impact business in the long-run
What is profit-offshoring?
This is often done to take advantage of more favourable conditions in a foreign country, such as lower wage requirements or looser regulations, and can result in significant cost savings for the business.
How do trade agreements impact economic well-being?
increased job opportunities, increased income for countries (multilateral agreements) (FDI), Trade bloc=> potential trade
Negative impacts=> Dependency on markets/ cheap imports, negative influence on economy
What is a global shift?
A change in manufacturing from East to West
How many people have come out of poverty since 1990?
1 billion
What did the Antarctic Treaty do in 1959?
Bann forms of military presence and it made it zone free and disposable of radioactive waste
