History of Globalisation Flashcards
What is globalisation?
Globalisation is the process by which people, culture, finance, goods and information transfer between countries.
It is the increasing connectedness and interdependence of parts of the world.
What are the five global flows?
Tourists Migrants Information Capital Commodities
What is containerisation?
Process of transporting goods through large metal containers.
Recent example of globalisation in the UK
Channel Tunnel opens in 1994
Advantages of containerisation
Containers are loaded and unloaded by crane, increasingly automatically.
Containers are inter-modal, meaning that they can be transported by ship, lorry or train.
How much does it cost to transport an Iphone or a television from China to the UK?
Less than £1.
How much can the world’s fleet of 9,500 container ships carry?
18000 twenty-foot shipping containers each.
What is the flow of goods?
The products and commodities we all buy in shops, many of which were grown or made in distant places.
What is the flow of capital?
Flows of money between people, banks, businesses and governments.
What is the flow of information?
Such as data transferred between businesses and people, often using the internet.
What is the flow of people?
Flows of migrants and tourists from one part of the world to another.
What does interdependence mean?
The success of one place depends on the success of other places. Economic problems in one country can quickly spread to its trading partners and affect people in distant places.
