Globalisation- Enquiry Q1 Flashcards
What is Globalisation?
A process that has caused the world to become more connected over time. It has a process that began centuries ago and which continues today- though it has accelerated massively in recent years
Involves increasing interdependence and interconnectedness
3 main International Organisations for free trade and FDI
WTO:
Works to reduce trade barriers and create free trade. A series of global agreements, latest round of talks began in Doha 2001, not yet concluded
IMF:
Promote global economic and financial stability by encouraging LEDCs to open up to FDI and Free Trade. Often criticised for enforcing a “western” model
WB:
Lending money to the developing world to fund economic development and reduce poverty. Helps deepen ties in global economy.
Criticised for prioritising economic over social development
What measures have NATIONAL Governments taken to accelerate Globalisation?
1) joining trade blocs
2) opening up markets to competition (liberalisation)
3) privatisation (1980s)
4) grants and loans for new businesses in areas of global importance
What is the lengthening and deepening of globalisation?
Lengthening:
Connections between places further and further apart
Deepening:
World becoming more deeply interconnected and dependant on one another. No longer just the richest people living globally
What is protectionism?
Adding tax or tariff to goods to protect trade within a country from competition
Using quotas to limit volume of imports
Banning foreign firms from operating in services like banking,retail and insurance
REDUCES TOTAL TRADE
Time space compression
The cost of communicating long distance is now so low that distance is irrelevent
Development: Communications and their impacts
50% of the total world population now use the internet
Mobiles became widely accessible in 1990’s
Global sub-sea fiber-optic cables allow almost instantaneous exchange of information
Face to face activities such as high street shopping and banking consultation are dying out
Time-space compression accelerated
Development: Transport, Trade and their impacts
1905: First Passenger plane
Now: 300 000 flights per day
The cost of transporting an I Phone from china to the UK
What is containerization?
Containerization is a system of standardized transport, that uses a common size of steel container to transport goods. … The widespread adoption of containers enabled an improvement in trade and contributed to the process of globalization.
Why is North Korea a “Switched Off” Country?
POLITICAL ISOLATION
Censored media and no connection to global internet
Ruthless dictatorship (Kin Jong-Un) deliberately isolates citizens
Practice of free speech is prohibited
Extremely militarized, 9 495 000 active reserves
Only trade relationships exist with communist sympathizing countries
Why is the Sub Sahara a “Switched Off” region?
ECONOMIC ISOLATION
Desertification, Sahel, Dominated by subsistence farming
Nothing to sell, produce predominantly for survival
Land -locked on continental interior, Poor or no central government for negotiations- illiteracy
Why are the Himalayas a “Switched Off” region?
PHYSICAL ISOLATION
Mountain range spanning Nepal, Bhutan and Chinese Tibet
Isolated for months at a time due to extreme winter conditions
Limited connections to the outside world, very poor road systems and low population density
