Globalisation

Question 1

What is globalisation?

Answer 1

• The process by which people, culture, finance, goods and information transfer between countries.
• It is the increasing connectedness and interdependence of parts of the world.

Question 2

When was the first email sent?

Answer 2

1971

Question 3

When did the Bridgewater canal open?

Answer 3

1761

Question 4

When was the great age of railway building in Britain?

Answer 4

1840s

Question 5

When did the first container ship sail?

Answer 5

1956

Question 6

When was the 3 point seatbelt invented and 32% of families own cars?

Answer 6

1959

Question 7

When did the Egyptians begin using wooden ships for trade by sea?

Answer 7

2700BC

Question 8

When and where was the wheel invented?

Answer 8

3500BC in Iraq

Question 9

When was a vast network of roads set up and by who?

Answer 9

1st century AD by the Roman Empire

Question 10

When did horses become domesticated?

Answer 10

4000-3000BC

Question 11

When did the first steamship travel around the world and what was it called?

Answer 11

1847 called HMS Driver

Question 12

What are free trade policies?

Answer 12

Policies with no restrictions over imports and exports.

Question 13

What are special economic zones (SEZ)?

Answer 13

Areas with financial or tax incentives to attract FDI.

Question 14

What is free-market liberalisation?

Answer 14

The lessening of Government regulations and restrictions over the economy

Question 15

What is privatisation?

Answer 15

The transfer of assets from the public to the private sector (the government gives rights over something to a private company)

Question 16

What is foreign direct investment (FDI)?

Answer 16

Investment made by an overseas organisation into an organisation based in another country

Question 17

What are subsidies?

Answer 17

Grants given by governments to increase the profitability of key industries

Question 18

What are the 5 ways our global communications have deepened?

Answer 18

• Mobile phones
• Internet access
• Social networking
• Electronic banking
• Fibre optics

Question 19

How have mobile phones lowered communication costs?

Answer 19

Sending texts and making phone calls is cheaper and quicker than writing and posting letters.

Question 20

How has the internet lowered communication costs?

Answer 20

It’s quicker than finding the information in a book and cheaper as you don’t have to buy it or get it from a library.

Question 21

How had social networking lowered communication costs?

Answer 21

Allows people to instantly connect with people in other countries and cheaper as there is no fee for airmail.

Question 22

How have fibre optics lowered communication costs?

Answer 22

Allows us instant access to information and allows us to talk to people all over the world quickly and cheaply. It’s more reliable than sending a letter.

Question 23

How had electronic banking lowered communication costs?

Answer 23

It’s easier faster and more convenient as people don’t have to carry their money around and can easily access their money from their phone.

Question 24

How do developments in transport lead to a shrinking world?

Answer 24

Seems to be shrinking as we get to places faster and much quicker.

Question 25

How does containerisation lead to developments in transport?

Answer 25

It means the process of trade has speeded up as we can transport in bulk and we can access fresher food in different countries.

Question 26

What do the world bank do?

Answer 26

• promote free trade policies
• give money to struggling organisations who could make a difference
• connects countries by money flowing between them

Question 27

What do the IMF do?

Answer 27

People give money to them who then loan it to other countries (rich lending to the poor).
Help restrictions to be lifted such as trade restrictions increasing trade and encouraging FDI.

Question 28

How to America accelerate globalisation?

Answer 28

• 1994 North American Trade Agreement-> boosted trade and communications between US and 19 other countries. Free trade agreements with 17 countries.
• receive FDI on a daily basis ensuring America remains a strong national identity.
• member of UN

Question 29

How do China accelerate globalisation?

Answer 29

• makes trade links with other countries
• products remain cheap
• set up SEZ-> designed to encourage overseas investment to boost economic growth

Question 30

How does the EU accelerate globalisation?

Answer 30

• developed one common market-> involves the free circulation of goods, capital, people and services within the EU.
• Promoted free market liberalisation by lessening the laws and legislations on trade across borders allowing countries to trade freely

Question 31

How do ASEAN accelerate globalisation?

Answer 31

• accelerate economic growth, social progress and cultural development in the area.
• promote free market liberalisation and have free trade between themselves