globalisation Flashcards
what is globalisation
The process of becoming more globally connected on a variety of scales
- movements of people , knowledge, ideas, goods and money across national borders leading theoretically to a borderless world
examples of economic globalisation
- TNCs trade products globally using outsourcing and offshoring to lower costs
- industries move to developing countries to save money on labour bringing economic growth to those nations
- trade blocs create economic integration between states and promote development
- sourceing of income from international companies
- global transactions of money e.g buying something shipped from china
examples of environmental globalisation
- better farming technologies transferred across countries
- raising awareness of loss of biodiversity
examples of technological globalisation
higher productivity, transfers of technology to LICs, communication across nations
political examples of globalisation
trade deals and trade blocs
- western democracies having influence on global political ideas, such as development of market economies
- deregulation policies allow markets to grow with an international reach
- UN- international organisations to harmonise nations
what is deregulation
removing state regulations
cultural examples of globalisation
- exposure to media sources allow cultural recognition
- ability to travel internationally allows people to experience other cultures
- individuals have a greater understanding of work events due to news
- westernisations of brands into other countries
social examples of globalisation
- international immigration creating multicultural societies
- social networking allows flows of information across nations
- global NGOS and charities are involved in improvement of education
what are flows of capital
movement of money for the purpose of investment trade or business production
major flows of capital occur between:
- core regions- wealthier developed nations which have power
- periphery regions- less wealthy nations with less power
- international monetary fund securing financial stability economic growth and reducing poverty worldwide
- the world bank giving loans for development or relief
what are flows of labour
movement of people to work in another country- type of migration that will contribute to the workforce
how much of the worlds population are international migrants
3-4% mostly situated in HICs
what are highly skilled workers and where are they likely to migrate to
- usually trained in jobs that require a lot of skill such as medicine science or ICT.
- likely to migrate to HICs for higher wages
what are unskilled workers and where are they likely to migrate to
underqualified workers that do not posses expert knowledge
- likely to migrate to HICs due to high unemployment rates in their countries
- this can lead to overpopulation and exploitation because workers are often underpaid or made to do illegal work making them remain unskilled workers
what are flows of products
physical items produced in one country and shipped to another for consumtion
patterns in flows of products
manufactured in LICs for lower labour costs and then sold in HICs
- hics sell these products at a higher price to make profit
what influence do flows of products have on emerging economies
increased flows of consumer products as there are more wealthy people`w
what are high level flows of services
- activities that generally require a higher skill level ( employee is qualified and trained)
- e.g financial services
what impacts has broadband had on flows of information
allows news and financial information to be transferred almost instantly
what impacts has social media had on flows of information
allows people to communicate across countries making the world more interconnected
what impacts has real time data had on flows of information
data transfers contribute to the knowledge economy (quarternary industry)
- this industry requires information to develop
- enabled developments in stock markets, education, and high tech products
what impacts has large databases and archives had on flows of information
allows for research and education
