Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Human Geography 🌃 > Globalisation and Trade > Flashcards

Globalisation and Trade Flashcards

You may prefer our related Brainscape-certified flashcards:
U.S. Geography flashcards World Geography flashcards
1
Q

What is globalisation?

A

Process of worlds economies, political systems and cultures becoming more interconnected

driven by advancements in communication and transport making it easer for goods and people to move across boarders

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

3 aspects of globalisation

A

economic - exchange of goods and services across boarders, creation of global supply chains

social - exchange of cultures and ideas

political - countries working together in international organisations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

dimensions of globalisation (causes)

A

things that promote globalisation

  1. Flows of:
    - information
    - capital
    - products
    - services
    - labour
  2. global marketing
  3. patterns of production, distribution and consumption
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

How have flows of information promoted globalisation

A
  • developments in technology -> large amounts of information to be spread quickly and easily
  • allows people in different countries to communicate
  • increasing flows of information = more interconnected, can learn about different cultures and countries
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

How have flows of capital promoted globalisation

A
  • historically, capital mostly invested within a country
  • improvements in ICT, capital can be moved instantly (via internet)
  • means amounts of capital invested in foreign counties increased
  • increasing flows of capital = more interconnected, many countries dependent on investment to and from foreign countries
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

How have flows of products promoted globalisation

A
  • historically, manufacturing in developed countries (made and sold where made)
  • recently, manufacturing declined in developed countries
  • because it moved abroad, cheaper labour costs
  • changing flows of products = more interconnected, products imported from other countries
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

How have flows of services promoted globalisation

A
  • improvements in ICT allowed services to become global industries
  • means services can locate anywhere and serve anyone
  • deregulation in 70/80s made it easier for financial institutions to do buisness abroad
  • increasing flows of services = more interconnected, people connected in more ways, eg having a bank account
  • high level services - HICs
  • low level services - LICs, cheaper labour
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

How have flows of labour promoted globalisation

A
  • more people are moving overseas - have to or for work
  • some migrants highly skilled, move to HICs for pay and better conditions
  • increasing flows of labour = more interconnected, family and culture spread globally
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q
  1. global marketing
A

Promoting and selling of products and services globally
- treats world as one single market
- creates economies of scale - cheaper to have one strategy then many
- creates global brand awareness

  • but marketing should adapt to regional markets (glocalisation)
    • different cultures and attitudes

accelerates globalisation - everyone recognises same logos, more similar and connected

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q
  1. patterns of production, distribution and consumption
A

lower labour costs in less developed = developed countries production sites located abroad
imported to more developed countries where sold

increasing international trade in goods = more interconnected

financial investment in factories needed to produce goods = increased flows of capital, promoting globalisation

movement of factories = increased flows of people

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

5 factors in globalisation

A

financial systems
global trade systems
communications technology
transport
new systems

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

How do financial systems promote globalisation

A

Global financial system governs flow of capital globally

technology and financial deregulation = increased flows of money between countries
(internet = transactions more secure)

= countries more connected

however a financial crisis or recession in one countries has significant impacts on others
- eg 2008

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

How do global trade systems affect globalisation

A

trade regulated by countries governments
- put tariffs on goods
- this makes trade more expensive

trade agreements/blocks reduce costs
- remove controls if other country does
- create trade blocs, encourage trade between members
Leads to cheaper and easier trade = more interconnected

World Trade Organisation - governs global trade system
- promotes free trade (no barriers)
- gives SDT to LICs
= promotes trade = connected

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

how does rise of technology effect globalisation?

A

digital communications allow quick and easy communication

fibre optics and satalites - large volumes of data transmitted quickly

internet - instant communication across world eg email

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

how does rise of transport affect globalisation

A

improved transport - easier and faster to move people and products

  • containerisation - more goods cheaper
  • low cost airlines allow people to move easier
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

how have new systems affected globalisation

A
  • supply chains become global - makes production is cheaper
    = countries more connected, more trade
  • large companies can benefit from economies of scale, buy raw material in bulk
    • gives larger companies advantage over smaller ones
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

what are unequal flows?

A

flows of people, money, ideas and technology

promote growth and stability
cause injustice and inequalities

18
Q

outline unequal flows of people

A
  • people tend to move from LICs to HICs, to areas with more opportunities
  • also leave countries due to famine and war
  • easier for wealthier people to move
19
Q

benefits of flows of people

A

+ reduced unemployment in less developed countries as people move to get jobs elsewhere
+ remittance payments (sending money back home to family) promote economic growth back home

20
Q

how to unequal flows of people create inequalities

A

less developed countries suffer from ‘brain drain’
- skilled people leave, taking knowledge with them, reinforces inequalities

  • some people unable to migrate, remain trapped = cycle of poverty
21
Q

how do unequal flows of people create conflict

A

migrants willing to work for lower wages than locals
- lower pay, creates conflict between migrants and locals

22
Q

how do unequal flows of people create injustice

A

migrants may be exploited
often made to work in dangerous conditions for less money
- eg Qatar, building Fifa stadium, thousands died

23
Q

outline unequal flows of money

A
  • includes remittance payments, foreign aid, FDI and income from trade
  • unequal as flows from HICs to LICs
24
Q

benefits of flows of money

A

+ economic growth from remittances, FDI and aid
+ foreign aid can help countries recover from disasters
+ Lowe production costs = cheaper goods for people and profits for TNCs

25
Q

how does unequal flows of money create inequalities

A

foreign aid can create dependancy - governments have little incentive to improve own countries
local business cant compete with TNCs, forced to close

26
Q

how does unequal flows of money create conflict

A

foreign aid can find its way to armed groups, funds conflicts

27
Q

how does unequal flows of money create injustice

A

can lead to exploitation an environmental degradation

28
Q

outline flows of ideas

A
  • neo-liberalism - political approach that promotes globalisation, free trade and deregulation
29
Q

benefits of flows of ideas

A

+ neoliberalism increased free trade, created more development and reduced conflicts

30
Q

how do flows of ideas create inequalities

A
  • neo-liberalism started in HICs, concentrates money in hands of a few, often large businesses in HICs
  • wealthiest benefit most, reinforcing inequalities
31
Q

outline flows of technology

A
  • globalisation created unequal flows from HICs to LICs
32
Q

benefits of flows of technology

A

concentration of technology can lead to rapid innovation
- helps people all over world

improve quality of life - better access to healthcare and cleaner energy
can create jobs - promoting economic growth
better education - access to information on internet

33
Q

how do flows of technology lead to inequalities

A

HICs can afford latest technology, LICs can’t
- can make products cheaper, better access to information
- gives HICs advantage

34
Q

how can flows of technology create conflict and injustice

A

weapons technology sold from HICs to LICs
- can be used against own people

cause environmental degradation and pollution

35
Q

what are unequal power relations?

A

developed countries have more control over global systems
- drive to their own advantage
- control over global economy and political events

less developed lack money and technology
- limited power
- can only respond to events

36
Q

what is the International Monetary Fund

A
  • a global financial institution
    monitors global economy
    advises governments to improve economic situation
    loans to countries with economic issues
37
Q

what is the World Bank

A
  • a global financial institution
    loans to LICs to invest in health and infrastructure
    all members pay in and money goes to countries most in need
    however loans are expected to be paid back
38
Q

how do global financial institutions reinforce unequal power

A

IMF and WB based in USA, led by HICs
- LICs who receive the loans have little influence over decisions
- HICs have more power

promote neoliberalism

loans from WB are conditional
- LICs must make changes to receive loan

when borrowing, countries remove trade barriers can damage economy

39
Q

What is global governance?

A

Rule, norms and regulations used to regulate human activity at an international scale

40
Q

how is globalisation measured?

A

KOF index
- measures 3 dimensions of globalisation
- economic, amount of trade and investment
- social, flow in information and people
- political, cooperation and participation

41
Q

how does globalisation create interdependence

A

when two or more countries are reliant upon eachother

countries rely on each other for:
- imports and exports of goods, therefore economic growth
- flow of labour for work
- solve issues that can’t be solved by one country
- protection of environment

Human Geography 🌃 (18 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions