Going Global 1.4.1 Flashcards
Enquiry Question: Why are global economic connections increasing?
What is globalisation
Globalisation is known as the increasing interdependence between countries through flows of capital, trade, goods and services as well as culture and ideas
How does globalisation both widen and deepen global connections?
Widening refers to global connections spreading to more places; deepening means stronger interdependence between places.
Explain how transnational corporations (TNCs) contribute to global flows.
TNCs operate across multiple countries, creating flows of capital, jobs, goods, and ideas.
Why is social media considered a major factor in the deepening of global connections?
It spreads information, culture, and political ideas instantly across borders.
What is cultural globalisation and how does it relate to global flows of ideas?
Cultural globalisation is the spread of global culture through media, TNCs, migration, and tourism.
How do remittances act as a global financial flow?
Migrants send money back home, contributing to the economies of less developed countries.
Name two indices used to measure the degree of globalisation in countries.
KOF Index and AT Kearney Index.
What does the KOF Index measure?
Political, economic, and social dimensions of globalisation.
What is the AT Kearney Index?
A globalisation index focused on cities, using indicators like FDI, internet use, and political engagement.
Why might GDP or income per capita be misleading when measuring globalisation?
They don’t account for inequality or informal economies.
Explain one strength and one limitation of using composite indices to assess globalisation.
Strength: More comprehensive than single indicators.
Limitation: May mask inequalities within countries.
What is meant by the term “shrinking world”?
The perception that distances are shorter due to faster transport and communication.
How did steam power in the 19th century contribute to global economic connections?
It enabled faster shipping and the expansion of empires and trade.
Explain how containerisation revolutionised global trade.
It allowed efficient, standardised, large-scale shipping, reducing transport costs.
How did jet aircraft change global business and tourism?
It enabled faster, long-distance travel for trade, tourism, and business.
In what way did the telegraph accelerate early global communication?
It allowed near-instant communication across continents, helping businesses and governments.
What is meant by “time-space compression”?
The idea that the world feels smaller due to fast communication and transport.
How have fibre optics and broadband transformed global connections?
They allow rapid data transfer for business, communication, and media.
Explain how GPS has contributed to economic globalisation.
It enables real-time tracking of goods and logistics, improving trade efficiency.
Why are some regions excluded from the benefits of time-space compression?
Due to poor infrastructure, conflict, or political isolation (e.g., North Korea).
Give one example of a country that remains relatively “switched off” and explain why.
Chad – due to being landlocked, low investment, poor infrastructure, and conflict.
What is a free trade bloc and how does it encourage globalisation?
A group of countries with reduced trade barriers; encourages trade and investment flows.
Describe how foreign direct investment (FDI) supports global economic connections.
FDI brings capital, jobs, and technology, often from TNCs, into host countries.
How has the global shift of manufacturing to Asia affected global trade patterns?
It made Asia a major exporter of goods and increased interdependence with Western markets.
Give two reasons why TNCs might offshore or outsource production to developing countries.
To reduce labour costs and take advantage of weaker regulations.
Why has economic growth in emerging economies like China promoted globalisation?
Their growing markets attract trade and investment, increasing global integration.
What are the main differences in trade patterns between developed and developing countries?
Developed countries trade in services and high-value goods; developing countries export raw materials.
How does trade in services differ from trade in goods?
Services involve intangible products (e.g., finance, education), often digitally transferred.
Why might developing countries struggle to benefit fully from global trade connections?
Due to poor infrastructure, lack of capital, trade barriers, and dependence on low-value exports.
Explain how unequal trade relationships can reinforce global inequalities.
Rich countries may exploit poor ones for cheap labour or resources, limiting their development.
