Globalisation Flashcards

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1
Q

What are the different flows of globalisation and state what they mean ?

A
  • commodities(valuable raw materials )
  • capital ( money)
  • tourists
  • information
  • migrants
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2
Q

What is free market liberalism ?

A

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

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3
Q

What is privatisation?

A

Privatisation is where foreign investors are allowed to gain a stake to privatised national services and infrastructure such as railways and energy supplies

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4
Q

Give a reason to how China is a closed door country ?

A

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.

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5
Q

Give 3 ways you can see how globalised a country is ?

A
  • electric lights on from space can tell you how wealthy and or densely populated an area is
  • internet users
  • Landline phone calls
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6
Q

What is the ‘bretton woods’ ?

A

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

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7
Q

What is encouraging business start ups and why is it effective?

A

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.

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8
Q

What are the different types of globalisation?

A
  • Cultural
  • Economic
  • Social
  • Political
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9
Q

What are two areas that are ‘Switched-Off Regions’?

A
  • 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
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10
Q

What is the meaning of glocalisation?

A

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.

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11
Q

What is the difference between offshoring and outsourcing?

A

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.

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12
Q

What are the two main indexes used to measure globalisation?

A
  • KOF Index

- Kearney Index

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13
Q

What are the strengths and weaknesses of having a global culture?

A

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

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14
Q

Give the definition for
Cultural homogenisation
Ethnic enclaves

A

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

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15
Q

Give two examples of low-wage international migration

A

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

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16
Q

What are the 5 cultural traits that there are?

A
  • Language
  • Food
  • Traditions
  • Clothing
  • Religion
17
Q

What are the strengths and weaknesses of the KOF and Kearney index’s?

A

KOF
Strengths
- calculated over a basis of 24 variables
Weaknesses
- some indicators can be questioned of they show how globalized an area is such as hours watching TV

Kearney index 
Strengths 
- Covers 96% of the worlds GDP 
- Covers 84% of the worlds population
Weaknesses 
- Only 64 countries out of 195 countries are included and smaller countries tend to take the higher places suggests there is an over importance on the size of the country
18
Q

What are the different economic and social measures

A
  • Income per capita and GDP
  • economic sector balance
  • Human development index (HDI, based on GDP per capita adjusted for PPP, life expectancy and adult literacy rate)
  • Gender Inequality Index
  • Environmental quality Index
19
Q

Give some effects of the global shift on de-industrialised areas such as Detroit and Leicester?

A

Detroit

  • It has lost its booming car industry that has been lost as the jobs have been offshored overseas
  • Detroit has lost 1 million residents due to them migrating outwards since 1950
  • Detroit’s car industry boomed in the 1920s but has seen severe decline due to the overseas competition

Leicester

  • Leicester like Detroit has lost due to the global shift and how it deindustrialised regions like the decline of textiles industry has been due to jobs being offshored overseas
  • Leicester has 5 wards in the top 20%of the UK’s most deprived wards
20
Q

Give the definition of Transition Towns

A

A settlement where individuals and businesses have adopted ‘bottom-up’ initiatives with the aim of making their community more sustainable and less reliant on global trade

21
Q

Explain the case studies of the tensions of the first nations?

A

In Canada the first nations there were tensions created as the 6 groups of indigenous people and they feel it is unjust others nations are extracting their oil. Over 200 million barrels of conventional oil has been extracted their since 1920.

This could affect the death of trout and other fish in oil-polluted lakes and the negative effects of alcohol and drugs (brought by oil workers) on the behaviour of young Dene people.

22
Q

What are 3 ways we can control globalisation with named examples?

A

Censorship - What your country is able to see or access online
Example - North Korea and china limit what people can see and even what apps they can download

Limiting immigration (this is usually put forward by right-wing parties) - stopping the flow of immigrants limiting the amount of them
Example - Donald trump planned to build a wall between USA and Mexico to limit the movement of people between the two countries 

Trade Protectionism - limiting trade by potentially increasing tariffs on goods
Example - In 2016 cheap Chinese steel was dumped onto global markets at prices heavily subsised by the Chinese government to protect their own manufacturers

23
Q

What does the word Protectionism mean?

A

Shielding a country’s domestic industries from foreign competition by taxing imports

24
Q

How is FDI and Bretton Woods linked?

A

The Bretton Woods institutions have created a global legal and economic framework that is suited to free trade and foreign direct investment (FDI). TNCs have thrived in this environment, helped by changes in the rules that dictate how they can operate.

25
Q

What are the 4 types of foreign direct investment (FDI) ?

A
  • Offshoring
  • Foreign mergers = Two firms in different countries join forces to create a single entity
  • Foreign acquisition = When a TNC launches a takeover of a company in another country
  • Transfer pricing = Some TNCs, such as Starbucks and Amazon, have sometimes channeled profits through a subsidiary company in a low-tax country such as Ireland
26
Q

What are the city of Mumbai and Karachi examples of and what is each of there’s population?

A

They are both examples of rapidly growing mega-cities

Mumbai - 22 million
Karachi - 24 million

27
Q

What is localism?

A

Localism or local sourcing aims to increase sustainability by limiting food miles

Links into the plight to reduce carbon emissions

28
Q

What does the term hyperglobalisation mean?

A

Hyperglobalisation - The idea that largely Westernised global culture is emerging as a result of cultural erosion in different