Globalization & Economy

Question 1

Views of globalization are:

Answer 1

1. commodity chain
2. global village
3. global mall

Question 2

1. Reducing friction of distance:

Answer 2

is internet and containerization shipping could be more efficient, fast, cheap.

Question 3

2. Breaking down barriers:

Answer 3

free trade, no tariffs to incentivize global trade.

Question 4

3. Scope of business:

Answer 4

transnational corporations in the MDW possible via wage difference, environmental differences, containerization, reducing barriers.

Question 5

Perspectives;

Answer 5

1. World is Flat. global village
2. World 3.0. transformationalism
3. Collapse of Globalism. protectionist.

Question 6

KOF Index:

Answer 6

economic, social and political

Question 7

DHL Index;

Answer 7

economic and developmental

Question 8

Economic globalization:

Answer 8

tech, politics, TNCs, colonialism. Foreign direct investments, free trade and tourism.

Question 9

Political globalism:

Answer 9

leads to tribalism, supernational corporations trump individual states.

Question 10

Cultural globalism:

Answer 10

homogenity, loss of local identity causing Westernization. less conflict, no biodiversity.

Question 11

Environmental globalism:

Answer 11

destruction, pollution, and extradiction.

Question 12

cons of globalism:

Answer 12

1. favours MDW
2. favours economies
3. favours extractions and consumption

Question 13

pros of globalism:

Answer 13

1.less poverty
2. more democracy
3. broadens development

Question 14

primary economic activity:

Answer 14

extraction of raw material.
1. mining
2. fishing
3. forestry
4. agriculture

Question 15

Agricultural types:

Answer 15

1. Subsistinence: LDW, consume what is produced, low scale, low tech. slash and burn and pastorialism.
2. Commercial: MDW, for profit, high tech, large scale. family farms, plantations, agribusiness and industrial farming.

Question 16

Agricultural factors;

Answer 16

-physical: climate, fertility and relief
-cultural: religion, tastes
-political: subsidies, marketing boards and quotas.
-economic: land competition and patterns.

Question 17

Secondary economic activity:

Answer 17

processing and manufacturing. aligned with development and urbanization.
1.large scale factory production
2.industry agglomerated to energy
3. capitalized mechanization
4. rapid and extensive urbanization.

Question 18

traditional secondary;

Answer 18

small scale, high-quality, Europe and America. experiencing job loss and chronic under and unemployment.

Question 19

newly industrializing secondary:

Answer 19

Japan, Four Tigers (Taiwan, S.K, Singapore and Hong Kong), and China. low cost, high labour, low quality, high productivity.

Question 20

tertiary economic activity:

Answer 20

service sector, post industrial countries, more in MDW.

Question 21

tertiary sectors:

Answer 21

1. Retail trade
   2.Financial/real estate/insurance
   3.education/health/social service
   4.culture
   5.tourism

Question 22

outsourcing is…

Answer 22

to save and improve quality. back office is clerical and requires education. front office is consumer services.

Question 23

tourism is supported by…

Answer 23

consumed by the upper to middle class and produced by low-wage immigrants with low education.