Globalisation EQ1 Flashcards

1
Q

Globalisation

A

Process that has caused the world to become more connected over time.

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2
Q

What are the 4 Globalisation connections/flows?

A

GOODS - products and commodities
CAPITAL - transfer of money between people, businesses and governments
INFORMATION - data transferred through internet
PEOPLE - migrants and tourists

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3
Q

How was globalisation achieved in the past? (3)

A

Trade
Colonialism
Cooperation

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4
Q

Forms of globalisation

A

Economic
Cultural
Political
Social

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5
Q

Economic globalisation

A

Growth of TNCs
Online purchasing - ICT improvements
Rapid growth in world trade

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6
Q

Cultural globalisation

A

Western cultures dominate

More circulation due to internet

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7
Q

Political globalisation

A

Western governments dominate

Increased trade blocs

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8
Q

Social globalisation

A

cross border family networks

Improvements in health and education

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9
Q

Why has improvements in transport and trade benefitted the world?

A
  • Encouraged growth of trade
  • Allowed TNCs to establish spatial division of labour
  • Increased connectivity makes places seem closer and easier to reach (shrinking world)
  • Transporting goods has become cheaper
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10
Q

Why are containers good?

A

They are inter-modal so can be transported by both train lorry or ship.
9500 container shops in world can carry up to 18000 containers each.
Loaded by crane now.

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11
Q

What are the 4 developments in transport and trade?

A

Steam power
Container ships
Jetcraft
Railways

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12
Q

Time space compression

A

People now feel closer as technology allows real time communication so the idea of someone being far away is irrelevant in terms of communication.

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13
Q

What are the developments of the communication revolution? (4)

A

Telephone/mobiles
Broadband/fibre optics
GIS/GPS
Internet/social media

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14
Q

How have improvements in communication benefitted businesses?

A

Analyse data instantly
Keep track of all aspects of production in diff countries
Transfer money and investments instantly

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15
Q

How are global flows sometimes seen as threats? (3)

A

Imports can threaten countries own industries.
Information can provide citizens with knowledge governments find threatening.
Migrants can bring cultural change where it may not be wanted.

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16
Q

How does the world trade organisation promote globalisation? And an evaluation

A

Encourages countries to abandon protectionism.
Works to reduce tariffs and taxes for free trade.

Evaluation - harms farmers and failed to stop richest countries from protectionism.

17
Q

How does the world bank contribute to globalisation? And evaluation

A

Loans money to help developing countries to reduce poverty and help make ties with the global economy.

Evaluation - strict conditions on loans and criticised for putting economic development before social development factors.

18
Q

How does the International Monetary Fund contribute to globalisation? And evaluation

A

Encourages open economies and promotes economic stability.
Loans to develiping countries who in turn need to open their economies to outside investment (FDI)

Evaluation - controversial rules

19
Q

How can governments promote globalisation? (4)

A

Join trade blocs (ASEAN, EU)
Privatisation
Free market liberalisation
Encourage business start ups

20
Q

WHy are SEZs attractive to investors?

A
  • unions usually banned
  • less environmental regulations
  • tariff and quota free
  • no taxes
  • infrastructure provided by gov
  • profits sent back overseas
21
Q

What does the KOF index measure?

A

Measures degree of globalisation:

  • economic: trade and money flows
  • social: tv ownership and international calls.
  • political: trade blocs/agreements
22
Q

What does the AT Kearney index measure?

A

How economically successful cities are:

-global political importance and role in global financial system

23
Q

How have TNCs contributed to globalisation?

A

Outsourcing
Offshoring to cheaper location
Developing new markets
Glocalisation

24
Q

Negatives of TNCs?

A

Exploitation
Low wages
Environmental concerns
Jobs losses in developed world due to outsourcing
Traditions and cultures can become eroded

25
Q

Global shift

A

International relocation of industries