globalisation Flashcards
What is globalisation
the process in which countries become more interconnected and developed
What are the 5 global flows that have accelerated in movement due to globalisation
-Commodities:volume of raw materials and also manufactured goods
-capital:money being sold and bought internationally as well as increasing currency exchanges
-Information/ideas: spread through social media, networking and the internet
-Migrants:countries becoming gmopre developed means that people want to move there
-tourists:as culture is more widely known, people want to visit these places and they can due to air travel beings developed
Why has development in transport created a ‘shrinking world’?
Because the the global flows can travel to other countries internationally at an extremely fast rate. Has been caused by transport development because the difference in the 19th century and now has significantly changed
What is a special economic zone?
an area that undergoes special rules such as low tariffs and already built infrastructure to attract foreign direct investment
What is ‘China’s open door policy’?
In 1978, China was made more competitive in the global market and 4 SEZ’s were opened along the coast to allow China to be on the FDI map
what is ‘free trade’?
unrestricted trade between countries
what is ‘protectionism’
when a country uses tariffs and quotas to limit the amount of trade that occurs. They do this because they want too protect their industries from foreign competition
what are trade blocs?
a group of countries which can trade between themselves with n o tariffs and quotas, meaning they can trade me.
Countries outside the bloc have to pay an extra tax for trading
what two index can be used to measure globalisation?
-The AT Kearney Global Cities Index:a measure that ranks 156 countries and looks at the way their information can flow, political engagement and the amount of business activity
what is meant by ‘switched off’?
countries that are untouched by globalisation and have factors such as their physical geographic location, political decisions and a lack of infrastructural development
what is ‘glocalisation’?
when products are designed to fit the needs of a particular population
what is a TNC and what do they do?
Trans National Corporations are companies that operate in multiple different countries and set up supply chains for mass manufacturing
What is ‘outsourcing’
when a TNC moves part of it’s operations to local companies overseas
What is ‘offshoring’
when a TNC moves branches of the company to other locations overseas
what is the ‘global shift’
when the majority of an industrial activity has shifted from one part of the world to another
Why was the global shift to China so significant?
China’s large population offered an abundant supply of cheaper labour and skilled works due to high eduction rates
Also created a reduction in the in equality gap in china(number of people in extreme poverty declined by 800 million between 1980-2022)
Who can be classed as a ‘winner’ in the global shift
-the host country has rising employment rates
-increasing economy means that the host country can be invested into services such as eduction, healthcare and training
-wage increased and poverty reduction means that a greater level of disposable income is available for the working population
Who can be classed as ‘losers’ in the global shift?
Developing countries(that are hosing the global shift):
-land degradation:growing pressure on and use and
