Globalisation Flashcards
What is Globalisation?
The growing economic interdependence of country’s world wide through the increasing volume and variety of cross border transactions in goods and services, freer international capital flows, and more rapid and widespread diffusion of technology.
What is Interdependence?
The mutual dependence of two or more countries, in which there is a reciprocal relationship
What are TNC’s?
TRANS NATIONAL CORPORATIONS
Companies that operate in more than one country
What is Westernisation?
The promotion of European and north American cultural values
List and Define each flows…
Goods- products, companies and services
Capital- money between people, banks, businesses, and governments
People- migrants and tourists
Ideas- information, both political and cultral
What are the 5 forms of globalisation?
Economic Political Social Cultural Environmental
What are some contributions towards economic globalisation?
The growth of transnational corporations which have a global brand image (Disney)
The spread of investment around the globe and rapid growth in world trade
What are some contributions towards political globalisation?
the dominance of western democratises in political decision making
The view that democratic consumerist society’s are the most successful
What are some contributions towards social globalisation?
Occurs as migration and tourism increases
Population become more mobile and mixed
What are some contributions towards cultural globalisation?
People increasingly eating similar food, wearing similar cloths, listening to similar music, and sharing similar values (westernisation)
What are some contributions towards environmental globalisation?
An awareness of global environmental concerns, such as climate change and threats to America, and the need to address them at a global scale
What technological advancements have caused the shrinking world?
Development of containers Growth of logistics industry Developments In ICT used by - businesses - social networking - cyber security based industry's
What is the shrinking world?
The notion that the world feels smaller over time, because places are closer in terms of travel or contact time.
What is time/space compression?
The cost of communicating over distance has fallen rapidly.
What is free trade?
An agreement between a group of country’s to remove all barriers to trade, such as taxes, tariffs and quotas.
What is the FDI?
FOREIGHN DIRECT INVESTMENT
money invested into a country by TNCs or by other national governments