Globalisation Flashcards

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1
Q

Define globalisation

A

The widening and deepening of global connections, interdependence, and flows (of commodities, capital, information and people)

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2
Q

Why is the world “shrinking”?

A

Due to advances in transport and trade

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3
Q

What are some 19th-Century developments towards a “shrinking” world?

A

Railways, telegraph lines and steam ships

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4
Q

What are some 20th-Century developments towards a “shrinking” world?

A

Jet aircraft and containerisation

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5
Q

What is time-space compression?

A

Information and goods can move globally quicker and cheaper, due to rapid development of ICT

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6
Q

When and where were the World Bank and IMF Established?

A

Bretton Woods 1944

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7
Q

Where are the World Bank and IMF based?

A

Washington, D.C.

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8
Q

What does IMF stand for?

A

International Monetary Fund

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9
Q

What does the World Bank do?

A

Uses deposits from wealthy nations to loan for development. The loanee has conditions imposed, such as adopting a free market

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10
Q

What does the IMF do?

A

Maintains international financial stability through loans. Loanees must privatise government assets; leading to poor countries selling to wealthy TNCs

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11
Q

What does WTO stand for?

A

World Trade Organization

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12
Q

Where is the WTO based?

A

Geneva, Switzerland

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13
Q

What does the WTO do?

A

Promotes free trade without subsidies or tariffs. This is “trade liberalisation”

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14
Q

What do International Trade Blocs do?

A

Trading blocs support trade between members by removing tariffs, creating barriers on non-members, or introducing subsidies

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15
Q

Why can’t most countries offer subsidies?

A

It is against WTO rules

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16
Q

How come the EU and USA offer subsidies?

A

They are too powerful to be influenced by the WTO

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17
Q

What is foreign direct investment?

A

Investment made by a company or government into an overseas company or organisation

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18
Q

When did China set up SEZs?

A

After the 1978 ‘open door policy’ allowing international business

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19
Q

What does SEZ stand for?

A

Special Economic Zone

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20
Q

How many SEZs were initially set up?

A

4

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21
Q

How did the SEZs attract investments and international business?

A

They offered tax incentives and cheap labour

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22
Q

By what year did 50% of Chinese exports came from foreign companies involved with SEZs?

A

2005

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23
Q

By 2005, what proportion of Chinese exports came from foreign companies involved with SEZs?

A

50%

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24
Q

What factors dictate the degree of globalisation of a nation?

A

Governance, trade and development

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25
Q

Who produces the KOF Index?

A

The Swiss Economic Institute

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26
Q

What are the components of the KOF Index?

A

Economic, Social and Political globalisation

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27
Q

Who are the most globalised nations according to the KOF Index?

A

The Netherlands, Ireland and Belgium

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28
Q

Who produces the A T Kearney Index?

A

Carnegie Endowment for International Peace

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29
Q

What are the components of the A T Kearney Index?

A

Political, Technological, Personal contact, and Economic

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30
Q

What does Personal Contact mean for the A T Kearney Index?

A

How globalised individual citizens are, e.g. telephone calls, travel, remittances

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31
Q

Who are the most globalised nations according to the A T Kearney Index?

A

Singapore and Switzerland

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32
Q

How do TNCs play a role in globalisation?

A

Global production networks, which develop new markets.

They outsource and offshore work and production

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33
Q

Why do TNCs outsource and offshore?

A

Cheaper labour and production

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34
Q

What is a New Economy?

A

Where GDP is earned more through the knowledge sector than from manufacture

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35
Q

What is off-shoring?

A

When a company does some of its work overseas

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36
Q

What is outsourcing?

A

When work is contracted out for another company to do

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37
Q

For what reasons might a country be switched-off to globalisation?

A

Geographic location, political ideologies, lack of economic potential

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38
Q

What is an example of a switched-off country?

A

Zambia

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39
Q

When did the Global Shift of industry begin?

A

1970s and 1980s

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40
Q

Which nation did the service industry become mainly outsourced to?

A

India

41
Q

Which nation did the manufacture industry move to?

A

China

42
Q

What benefits are brought by economic restructuring?

A

Improved infrastructure, investment, and employment

43
Q

What is the Global Shift also referred to as for individual countries?

A

Economic restructuring

44
Q

How has China benefitted from the Global Shift?

A

World’s longest highway network

45
Q

How has Shanghai benefitted from the Global Shift?

A

The Maglev; the fastest commercial train ever - over 400 km/h

46
Q

What are some costs of economic restructuring?

A

Loss of productive land

Unplanned settlements

47
Q

What percentage of China’s rivers and lakes are polluted?

A

70%

48
Q

How many of the Yangtze’s tributaries aren’t even fit for irrigation?

A

207

49
Q

What percentage of China’s farmland is suffering from degradation?

A

40%

50
Q

How is China’s farmland degrading in the south?

A

Acidification by industry

51
Q

Give an example of over-exploitation of resources in developing countries

A

The Amazonian rainforest has been mostly cleared in Ecuador

52
Q

What is a disadvantage of the Global Shift for developed nations, and an example?

A

Dereliction, depopulation, out-migration, crime and unemployment, e.g. Leicester textile companies closed

53
Q

What is hyper-urbanisation?

A

Population growth outpaces the ability of the authorities to provide basic services

54
Q

Where is an example of hyper-urbanisation?

A

Mumbai, India

55
Q

Where is an example of migrant workers sending remittances home?

A

Filipinos in Saudi Arabia

56
Q

How does international migration benefit the host nation?

A

Receives skilled workers in sectors with shortages, and is able to sustain the lifestyle of its middle class

57
Q

How does international migration disadvantage the host nation?

A

There may be pressure on housing and services

58
Q

How does international migration benefit the source nation?

A

Reduces unemployment, and earns remittances to help build local businesses

59
Q

How does international migration disadvantage the source nation?

A

It suffers an imbalanced population and loses skilled workers

60
Q

Who notably owns many Australian, British, and American news outlets?

A

Rupert Murdoch’s News Corp.

61
Q

What is the proportion of the assets of the ‘super-rich’ in China?

A

Top-1% own one-third of the property and industry

62
Q

How did the development gap change from 1980 to 2012?

A

It increased

63
Q

Between what years did the development gap increase?

A

1980 to 2012

64
Q

Which two types of nation grew the most from 1980 to 2012?

A

Advanced economies

Newly-industrialised Asian economies

65
Q

Define cultural diffusion

A

The spread of one culture to another by various means

66
Q

What has happened because of China’s changing eating habits?

A

Obesity increased five times from 2002-2013

67
Q

How has China’s diet changed?

A

More processed foods

More animal protein (pork and poultry)

68
Q

What does HDI stand for?

A

Human Development Index

69
Q

What are the four factors of HDI?

A

Life expectancy, literacy, years of education, GDP/capita

70
Q

What is the scale of HDI?

A

0 to 1

71
Q

What does GNI stand for?

A

Gross National Income

72
Q

What is GNI?

A

The value of goods and services earned by a country, including overseas earnings

73
Q

What is GDP?

A

The value of goods and services earned by a country, excluding overseas earnings

74
Q

What does GDP stand for?

A

Gross Domestic Product

75
Q

What does PPP stand for?

A

Purchasing Power Parity

76
Q

What is PPP?

A

How much average earnings could buy you

77
Q

What is economic sector balance?

A

The relative contribution of primary, secondary and tertiary sectors to GNI

78
Q

What does GII stand for?

A

Gender Inequality Index

79
Q

What are the indicators for GII?

A

Reproductive health, empowerment, education and employment

80
Q

What is the Lorenz curve?

A

A graph of the percentage of income each percentage of population earns

81
Q

What is the Gini index?

A

The income distribution on a scale of 100%

0 is perfect equality

82
Q

How is wealth distributed in China?

A

Wealthier cities on the east coast; poorer as you move inland

83
Q

What is life like in the Sichuan province, around the Three Gorges Dam?

A

China’s dirtiest cities (30m people)

Thousands of premature deaths due to polluted air

84
Q

Why is London so multicultural?

A

Open borders of the EU

85
Q

How have cities like London become more economically diverse?

A

FDI

86
Q

What negatives have been brought about by immigration?

A

Extreme political parties

Trans-border water conflicts (Mekong)

87
Q

How have nations attempted to control globalisation (information and ideas)?

A

Censorship (China) - The State controls media and the internet

88
Q

How have nations attempted to control globalisation (economic)?

A

Trade protectionism - Introducing tariffs on the imports of some goods

89
Q

Why did Tata Steel put all of its UK plants on sale?

A

Cheap, subsidised Chinese steel was saturating the market

90
Q

How did Canadian people object to cultural globalisation?

A

First Nation peoples protesting resource exploitation of historical land

91
Q

When was the Open Door Policy?

A

1978

92
Q

What are some 21st-Century developments towards a “shrinking” world?

A

ICT, mobile phones, internet (fibre optics), social networking, electronic banking

93
Q

How do the IMF and World Bank differ?

A

WB primarily lends money for developing countries

IMF oversees international exchange rates and payments, and loans for members’ international debts

94
Q

How long is China’s highway system?

A

almost

140,000 km

95
Q

How have international organisations contributed to

globalisation?

A

Promotion of free trade policies and foreign direct investment

96
Q

How have national governments contributed to

globalisation?

A

By promoting free trade blocs and through policies (e.g. free market; privatisation)

97
Q

How do different measures contrast with each-other about the impacts of globalisation?

A

Economic measures disagree with social measures

98
Q

How have nations attempted to control globalisation?

A

Censorship (N. Korea, China)

Immigration (UK, Japan)