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
2
Q
Social consequences of globalisation
A
- International immigration created extensive family networks across borders, creating multi ethnic societies
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
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
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
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