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geography paper 2 > globalisation EQ1 > Flashcards

globalisation EQ1 Flashcards

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1
Q

globalisation def

A

the increasing integration of economies around the world, particularly through the movement of goods, services, people, diffusion of technology and capital across borders. Also shown through culture, lifestyles and global processes such as climate change.

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2
Q

space-time compression

shrinking world

A

the increasing sense of connectivity that seems to be bringing people closer togther evenhough their distances are the same

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3
Q

most important factors in accelerating globalisation

A
  • IGO
  • transport
  • communication
  • TNC
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4
Q

Bretton Woods Agreement 1944

A

system of rules that helped create 3 important international organisations:
- IMF
- WB
- WTO

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5
Q

IMF
International Munetary Fund

role in globalisation

A
  • channels loans from rich nations to countries that apply for help
  • receipients must run free market economies
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6
Q

IMF
International Munetary Fund

evaluation

A

Rules and regulations can be controversial, especially the strict financial conditions

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7
Q

WB
World Bank

role in globalisation

A
  • lends money on a global scale
  • US$470 million loan was granted to Philippines
  • gives direct grants to developing countries
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8
Q

WB
World Bank

evaluation

A
  • strict conditions
  • most presidents have been American citizens
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9
Q

WTO
world trade organisation 1995

role in globalisation

A
  • advocates trade liberalisation
  • eg China
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10
Q

WTO
world trade organisation 1995

evaluation

A
  • failed to stop the world richest countries from subsiding
  • protectionism is harmful to farmers in developing countries
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11
Q

Free trade

A

international trade left to its natural course without tariffs, quotas, or other restrictions.

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12
Q

FDI

foreign direct investment

A

an ownership stake in a foreign company or project made by an investor, company, or government from another country

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13
Q

Economic liberalisation

A

involves a country lowering import tariffs and relaxing import quotas and other forms of protectionism

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14
Q

Privatisation

A

the transfer of a business, industry, or service from public to private ownership and control

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15
Q

Tariff

A

a tax or duty to be paid on a particular class of imports or exports

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16
Q

Quota

A

a fixed share of something that a person or group is entitled to receive or is bound to contribute

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17
Q

Trading bloc

A

groups of countries that establish rules for trade between all participating countries

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18
Q

Subsidies

A

a sum of money granted by the state or a public body to help an industry or business keep the price of a commodity or service low

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19
Q

local players/oganisations who contribute to decision making examples

A
  • sunderland counsil offered cheap land + tax breaks to nissan
  • UK stopped investing in coal industry
  • in UK profitability depended on government subsides
20
Q

national players/organisations who contribute to decision making examples

A
  • china’s ‘export processing zones’ offer tax insentives and huge pool of cheap labour
  • chinese government declaired ‘open door policy’ to international businesses in 1978
  • china encourages western FDI
21
Q

**International **players/organisations who contribute to decision making examples

A
  • OPEC produced oil and represent 40% of oil producers (important as influence prices)
  • countries group together as trading blocks eg EU to lead to rapid economic growth
22
Q

global players/organisations who contribute to decision making examples

A
  • The IMF lends money for development purposes
  • the world bank provides lones for development in poorer countries eg Phillipines
  • the WTO generate economic growth in pooer regions
23
Q

why should the effects of globalisation be spatially uneven?

A
  • spatial variations in level of development
  • availability of resources
  • accessibility
  • labour costs and skills
  • government policies eg North Korea
24
Q

Mongolia

A
  • cultural erosion
  • 1992 Mogolia had been liberated from comunism
  • vast rare earth mineral wealth attracts inveestment
  • become more developed but there was bad imcome inequality
25
Q

Kazakhstan

A
  • 2014 building dry ports to help chinese plans for silk road (60 day route into 14 days, investement to make it 10 days)
  • depends on Russia, will they cut off supplies
  • caused problems
26
Q

India

A
  • 1991- sweeping financial reforms
  • TNC’s have grown in size and influence
  • Tata and Bharti Airtel have become global players
  • until 2013 foreign retailers could only set up with a local indian business
  • 90% of indias shops are still family owned
27
Q

Indonesia

A
  • 1960s- President Suharto turned his back on communism and opened up markets
  • became popular for TNCs like gap and levis
  • WO lent funds for rad building, power supplies and ports
  • human rights campaigners became concerned
28
Q

china

A
  • urbanisation fuelled the growth of the low-wage factories
  • TNCs were quick to build relationships with chinese owned factories
  • 1978 open door policy
  • new gatwick runway increased access to China
29
Q

Myanmar

A
  • special economic zone
  • president promised to reconnect Myanmar to the global economy
  • aims to be hub for low cost manufacturing
  • workforce is cheap and young
  • rich in oil and gas
  • economy is to grow by 7.8%
30
Q

fortune 500 top 3

A
  • walmart
  • Saudi Aramco
  • State grid
31
Q

motive and means of TNCs

A
  • profit (control and minimise costs)
  • economies of scale (buy in bulk, sell cheaply)
  • develop new markets
  • vertical and horizontal integration
32
Q

glocalisation

A

when a company re-styles its products to suit local tastes eg McDonalds

33
Q

advantages of TNC’s

A
  • creates jobs
  • increased tax goes to services like healthcare
  • can bring political stability
34
Q

disadvantages of TNC’s

A
  • local businesses cant compete
  • exploit cheap labour
  • poorly affects environment
35
Q

What is the belt and road initiative?

A
  • trade and infastructure project
  • aims to link china to economies across many continents
  • the ‘belt’ recreates an old silk road and the ‘road’ is through oceans
36
Q

advantages of the belt road initiative to china

A
  • creates platform for trade
  • promotes world peace and development
  • strengthen exchanges and mutual learning between different cultures
37
Q

disadvantages of the belt and road initiative to china

A
  • little employment for local people
  • many of the projects are too expensive
38
Q

advantages of the belt and road initiative to Sri Lanka

A
  • $15 billion value of investment
  • projects like coal power plant
  • infastructure, modern technology and power supplies
39
Q

disadvantages of the belt and road initiative to Sri Lanka

A
  • may not be able to pay debt so left vulnerable
  • China gets access to lucrative national reseources
40
Q

5 key reasons for rapid globalisation

A
  1. communications
  2. transport
  3. IGOs
  4. TNCs
  5. migration
41
Q

switched on countries

A
  • flows of trade
  • technologies
  • movements
  • media

eg Switzerland via the KOF index 2022

42
Q

switched off countries

A
  • some countries left behind
  • some choose not to become globalised

eg Somalia via the KOF index 2022

43
Q

characteristics of switched on countries

A
  • high level of development
  • lots of trade
  • temperate climate
  • good resources
  • proximity to each other
  • free movement
  • historical allies
44
Q

characteristics of switched off countries

A
  • low level of development
  • LLDC least less developed countries eg Burundi
  • conflict eg Afghanistan
  • small island states
  • innaccessible
45
Q

the KOF index

A

economic (FDI), social (cross border contact), political (member of IGO?)

-doesnt count illegal migrants
-smaller countries come out better
+158 countries
+been done for 30 years
+takes alot into account

46
Q

A.T. Kearney index

A
  • political engagement
  • technological connectivity
  • personal contact
  • economic integration

-only 64 countries
+covers 96% of the worlds GDP

geography paper 2 (7 decks)

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