Introduction to Globalisation Flashcards
What are the 3 themes of globalisation?
cultural
economic
political
What is globalisation?
the increasing interdependence of leading trade nations that allows exchange of goods and services and for the development of TNCs, that can develop more power than nation states
What is an example of economic globalisation?
- large TNCs rely on income from other countries, most of which comes back to CEOs
- reduced income into own countries
- TNCs have huge influence in markets
- trade blocs
What is an example of cultural globalisation?
- sector shift (different types of job become available for the population) -> could impact population growth etc. (if more people are getting educated and working)
- damage to land
- growing multiculturalism- however too much may lead to a lack of due to westernisation
- tourism/holidays
What is an example of political globalisation?
- pressure on governments to work together
- political intervention against TNCs (Alibaba)
- international organisations such as the UN
What is containerisation?
the standardisation of size and transport of containers, which are used transport goods around the world
What are the positives of containerisation?
- fast (not as fast as planes)
- uniformity allows for lots to be transported at once
- growing size in ships is increasing the amount able to be transported
What is an NIC?
Newly industrialised country
What is an LIC/NEE/HIC?
LIC: low income country
NEE: newly emerging economy
HIC: high income country
What is a TNC?
Trans-National Corporation, businesses that have global reach
What is meant by ‘global village’?
concept created in the 1960s where economic factors and information would flow freely around the globe
What causes economic globalisation?
- free trade
- faster transport
- growth of TNCs
- marketing
What causes social globalisation?
- migration
- communication
- information via. technology/communications
What causes political globalisation?
- westernisation
- global institutions (eg WTO)
What is the shrinking world hypothesis?
the idea that the rapid rate of globalisation makes the world feel smaller, with faster transport around the world