Globalisation Flashcards
What are the different flows of globalisation and state what they mean ?
- commodities(valuable raw materials )
- capital ( money)
- tourists
- information
- migrants
What is free market liberalism ?
Free market liberalism also known as neo-liberalism. It’s where you remove the influence of the state in the economy and allow the markets to act more freely
A case study example of this is London in 1986 removed large amounts of ‘red-tape’ (regulations) and paved the way for London to become the world’s leading global hub for financial services
What is privatisation?
Privatisation is where foreign investors are allowed to gain a stake to privatised national services and infrastructure such as railways and energy supplies
Give a reason to how China is a closed door country ?
They limit many things to do with globalisation such as they limit the amount of non Chinese films and do not allow google or YouTube to be used at all.
Give 3 ways you can see how globalised a country is ?
- electric lights on from space can tell you how wealthy and or densely populated an area is
- internet users
- Landline phone calls
What is the ‘bretton woods’ ?
The Bretton Woods system of monetary management established the rules for commercial and financial relations among the United States, Canada, Western European countries, Australia, and Japan
What is encouraging business start ups and why is it effective?
Methods ranging from low business taxes to changes in the law allowing both local and foreign-owned businesses to make more profit.
If you adopt methods to encourage businesses to start up in an area then you can encourage TNCs to increase FDI in your country.
What are the different types of globalisation?
- Cultural
- Economic
- Social
- Political
What are two areas that are ‘Switched-Off Regions’?
- North Korea - Political reasons for 70 years it has been ruled by an autocracy it is a dictatorship under a communist regime
- The Sahel region of Africa(e.g. Chad and Mali) - Poverty, chad struggles to attract FDI as it does not have a coastline
What is the meaning of glocalisation?
Glocalisation=a product or service that is developed and distributed globally but is also adjusted to accommodate the user or consumer in a local market.
What is the difference between offshoring and outsourcing?
Offshoring is where TNCs move their factories to other countries to reduce labour costs or other costs. Outsourcing in when TNCs contract another country to produce the goods and services they need rather then do it themselves.
What are the two main indexes used to measure globalisation?
- KOF Index
- Kearney Index
What are the strengths and weaknesses of having a global culture?
Strengths
- More harmonious for society if everyone’s views and beliefs are the same
- As people experience different cultures it will improve relations between countries which could stop conflict and help trade
Weaknesses
-removes the sense of uniqueness as everyone conforms to the same beliefs all the time
Give the definition for
Cultural homogenisation
Ethnic enclaves
Cultural homogenisation= loss of cultural diversity, everywhere is becoming the same.
Ethnic enclaves= a geographical area with a high concentration or characteristics of cultural identity
Give two examples of low-wage international migration
Indian workers moving to UAE over 2 million Indians live there and an estimated US$15 billion is returned to India annually as remittances
Around 1.5 million migrants from the Philippines have arrived in Saudi Arabia since 1973, some work in construction and transport industries, others as doctors and nurses in Riyadh. Around US$ 7 billion is returned to Philippines annually