Globalisation Flashcards

1
Q

Economic consequences of globalisation

A
  • Growth of MNCS accelerates cross border trades

- ICT supports growth of complex spatial divisions of labour for firms and a more international economy

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2
Q

Social consequences of globalisation

A
  • International immigration created extensive family networks across borders, creating multi ethnic societies
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3
Q

Political consequences of globalisation

A
  • growth of trading blocs (e.g. EU) allow MNCs to merge, while reduced trade restrictions help markets to grow
  • global governance concerns over free trade, credit crunch and response to natural disaster
  • world bank , IMF, and WTO work internationally to harmonise national economies
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4
Q

Cultural consequences of globalisation

A
  • successful western cultural traits come to dominate in some territories e.g. the ‘McDonaldisation’ of tastes and fashion
  • Globalisation are more complex outcomes, as old local cultures meld with globalising influences
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5
Q

Modern Globalisation

A

differs from global economy that preceded, over time connections between people and places have:

  • lengthened = products shipped over greater distances, migrants and tourists travel longer distanced from home
  • deepened = more aspects pf life become globally connected, i.e. food we eat
  • speeded up = quicker travel speeds and communications across long distances
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6
Q

Acceleration or retreat of globalisation

A

US presidential election and UK Brexit, migration and free trade agreements were key issues affecting how people voted, migration and trade barriers re-introduced

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