Globalisation Flashcards
How do connections become deeper and wider?
- Wider: new links between places that are far apart
- Deeper: more people’s lives connect with far away places e.g buying goods or cheaper travel.
Five main drivers of the 21st century
Mobile phones, internet, social media, fibre optics, electronic banking
Significant developments in transport
- Standardised container shipping is used globally, so goods can be loaded and unloaded faster, lowering the costs and improves speeds of travel, improving trade flows
- High speed railway networks
- Cheaper/larger planes makes travelling the world quicker, low cost airlines makes it more accessible, increased capacity
- Steam/sailing ships
How does transport help the supply chain?
Cheaper and faster travel makes a lengthy supply chain financially viable, allowing manufactured goods to be shipped over long distances.
Structural Adjustment Programmes
IMF - countries must agree to stop what puts them further in debt, so that they know they can pay the money back.
Trade blocs
- The market is bigger, business can merge, and you can protect yourselves from other parts of the world.
- But you lose some sovereignty, interdependence mean problems spread between countries, and you have to compromise and concede.
How does FDI help?
- Brings capital into the country
- Creates jobs, income and increases taxes and spending power for workers
- More infrastructure
- But too much FDI leads to domestic companies shutting down
FDI chain
companies invest, set up and export -> other companies arrive -> growth of employment, income, wealth tax income, and government spending -> supply chains develop
KOF Globalisation Index
- Measured since 1970 for 158 countries (ignores a lot of countries)
- Judges how well countries are socially, politically and economically linked to each other
- More globalised = more links
- Top 10 are only European and many EU members, shows trade bloc encourage globalisation
AT Kearney Index
- Look at 64 countries, as well as cities
* Measure business activity, human capital, information exchange, cultural experience and political engagement
Global production networks
- Not tied down to one place, size and density growth
- Risky: hazards, dodgy products, poor working conditions
Why is there development of new markets?
New trends (global/local) and new consumer needs
What are the benefits of change in built environment with the global shift?
- Millions migrate for job opportunities in secondary sector
- Infrastructure investment: connected to 2 longest highway network routes
- Waged work: 750+ companies on Dhaka Stock Exchange
- Poverty reduction: provides 35% of Bangladesh’s economy
- Education and training: British council helps teach GCSEs+A2, increased literacy
Costs of built environment with the global shift
- Lost agricultural land from development
- Slums quickly expand
- Env/resource pressure: flooding from garbage in river, congestion rise from little infrastructure, coloured waste water dumpings
Major env problems of the global shift (Bangladesh)
- World’s worst air quality
- Metal pollution contaminated rice paddies and farmland
- Erosion of buried water pipes and damage
- Fish stocks dying
- Health: respiratory problems, workers exposed to chemicals for long periods of time
Deindustrialisation social issues
- Loss of income
- No services or investment
- Poor QoL
- Loss of community