Globalisation and Migration Flashcards
What is globalisation?
Globalisation is where the world has become or is becoming interconnected through economics, culture, politics, trade, tourism, and environmental impacts.
What has made trade almost instantaneous?
Modern transport and communications.
How does globalisation affect political borders?
It reduces the effect of political borders and makes countries more interdependent.
What has led to a rise in global inequality?
More powerful countries and businesses affecting decisions in other parts of the world.
What are global cities?
Global cities are the focus of the world economy.
What is time-space compression?
It refers to the network flows to places and populations resulting from significant developments.
What are the four significant developments related to time-space compression?
- Appearance of large transnational corporations (TNCs)
- Growth of regional economics and trading blocs
- Development of modern transport networks
- Advances in IT and communications, particularly the WWW and the internet
What is the global economy?
A formation resulting from developments in globalisation where very few countries are not ‘networked’.
List the five different network flows.
- Trade
- Aid
- Foreign investment
- Labour
- Information
What does trade involve?
The import and export of raw materials, food goods, and services.
True or False: Global trade is equal.
False.
Who benefits more from global trade?
Developed countries benefit more than developing and emerging countries.
What has led to fewer barriers to trade?
Lower tariffs and quotas.
Name two trade blocs that have developed to ease trade.
- European Union (EU)
- North American Free Trade Agreement (NAFTA)
What is aid?
The transfer of resources from one country to another to help with development or after a disaster.
What type of aid is most common?
Most aid is economic.
What is the role of foreign investment?
It can be either direct or indirect and is crucial for the global economy.
How does labour migration impact the global economy?
It fuels the market with either specialist or cheap labour.
What is the commodity chain?
The global production, supply, or commodity chain that pulls flows together to produce goods.
What is economies of scale?
The cost per item reduces when operated on a large scale.
How do transport improvements affect production costs?
They reduce costs and allow goods to be moved longer distances more quickly.
What is foreign investment?
When individuals or firms from abroad invest in another country.
Give an example of foreign investment.
Call centres can be located anywhere, e.g., India.
What are transnational corporations (TNCs)?
Companies that operate in more than one country and provide most of the foreign direct investment (FDI).
