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Geography > Globalisation EQ1 > Flashcards

Globalisation EQ1 Flashcards

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1
Q

What’s is globalisation?

A

Globalisation is the process by which people,culture, capital, commodities and information are becoming increasingly interconnected

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2
Q

What are the four flows of globalisation?

A

Commodities
Information
People (tourists + migrants)
Capital

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3
Q

What are the four strands of globalisation?

A

Political
Cultural
Economic
Social

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4
Q

What is the shrinking world concept?

A

The physical distance between places remains unchanged but technology reduces the time taken to travel between
2 years, 8 days, 31hours

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5
Q

What is containerisation?

A

System of standardised transport, reducing costs as traveling in bulk, quicker as not manually unloading and reloading, less theft
Mechanised- cheaper

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6
Q

When was containerisation introduced?

A

20th century

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7
Q

Why was the introduction of jet aircrafts important?

A

Reduced passenger travel time to hours
Easier goods transports
Less steam ships

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8
Q

When were jet aircrafts introduced?

A

20th century

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9
Q

What was important about railways, telegraphs and steam ships?

A

Made communication easier, steam power helped the Industrial Revolution

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10
Q

What are global production networks?

A

The functions, operations and transactions through which a specific product or service is produced, distributed and consumed

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11
Q

How important are global production networks?

A

GPNs make up 80% of world wide trade

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12
Q

What does outsourcing mean?

A

Is the practice of hiring an organisation outside of a company to preform services or create goods that were before done by the company itself

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13
Q

Who are the key players in globalisation?

A

world trade organisation- WTO
world bank-WB
International Monetary Fund- IMF
National governments

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14
Q

What does the WTO do?

A

Encourages globalisation through advocating trade liberalisation especially for manufactured goods
Asks countries to abandon protectionist attitudes

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15
Q

What does the IMF do?

A

Accelerates globalisation through channeling loans to poorer countries
Allows TNCs to enter countries easier

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16
Q

What does the WB do?

A

Accelerates globalisation through lending money on a global scale
Gives direct grants to developing countries

17
Q

What is privatisation?

A

The transfer of ownership of property or business from government to a privately owned entity

18
Q

What are trade blocs?

A

An agreement where countries involved have free movement of goods

19
Q

What are advantages and disadvantages of trade blocs?

A

Cheaper goods

Expensive for countries not involved

20
Q

What are tarrifs?

A

A tax placed on goods that are imported from other countries

21
Q

What are subsidies?

A

A sum of money granted by the government to help an industry or business keep the price of goods low

22
Q

What is an embargo?

A

A ban placed on certain goods imported from other countries

23
Q

What is protectionism?

A

Method of protecting a countries domestic industries from foreign competition

24
Q

What are quotas?

A

A limit placed on the number of goods that are imported from other countries

25
Q

What is the role of national governments?

A

Free-market liberalisation- restrictions lifted on the way companies and banks operated
Privatisation
Encouraging business start ups

26
Q

What is the KOF index?

A

A measure of globalisation combining 24 indicators across economic, social and political globalisation

27
Q

What is the AT Kearney measure?

A

Uses 12 indicators spread across 4 categories
Economic integration, tech connectivity, political engagement, personal contact

28
Q

Why is North Korea politically switched off?

A

Political corruption
Their ideology
Cannot emigrate, go on holiday or access the internet

29
Q

Why is Nepal physically switched off?

A

Isolated by its terrain and winter snow
Makes trade harder so has limited connections

30
Q

Why is Sahel economically switched off?

A

Poor infrastructure
Low literacy levels of working age population make it unattractive
Can’t afford to trade

31
Q

What are TNCs?

A

Transnational corporations
Eg Shell

32
Q

What are the advantages of TNCs?

A

Lower labour costs
Bigger markets in different regions
Source of employment for host
Improves tech and skill set

33
Q

What are the disadvantages for TNCs?

A

Networks vulnerable to international distasters
Loss of job investment
Threats to local business
Exploitation of work force
Significant impacts on local and global environment

34
Q

What does off-shoring mean?

A

Practice of outsourcing work and operations overseas usually less developed countries to reduce business costs

35
Q

What are SEZs?

A

Special economic zones
Region designed within a country to have more liberalised business policies and other gov investments

36
Q

What is neo-liberalism?

A

Ideology and policy models that emphasises the value of free market competition

37
Q

What are IGOs?

A

International inter-governmental organisations

Geography (19 decks)

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