lesson 1- globalisation Flashcards
what is capital flow?
-movement of money
-for the purpose of investment, trade, or to produce goods/services
-investment into a production operation
what is globalisation?
-the process in which the world becomes more interconnected
-through trade, communication, transportation and immigration
what is international trade?
exchange of resources across international boundaries
what is inbound and outbound trade?
inbound=imports
outbound=exports
what is economic globalisation?
+evidence
-long distance flows of resources as well as information and market exchanges
-increase in free trade (no barriers to import or export between countries
-increase in TNCs
-faster and cheaper transport
what is social globalisation?
+evidence
-spread of ideas, information and images
-migration
-global communication networks
-media
-sport
-leisure
what is political globalisation?
+evidence
-diffusion of government policy and development of market economics in former communist states
-decline of centralised economics
-influence of western democracies on less developed countries
what did the former United Nations secretary general say
+what is his name
'’arguing against globalisation is like arguing against the laws of gravity’’
-Kofi Annan
what is the silk road?
+what did it lead to
an ancient network of trade routes across China and central Asia between 50 and 250 BCE
-advances in:
metallurgy->coins created
transportation->roads built
agriculture->more food transported
-Chinese silk, Roman glass etc
-ideas such as Buddhist beliefs and paper making
what is the age of exploration?
+what did it lead to
European explorers seeking new sea routes to Asia, found America
->new ship designs
->magnetic compasses
-ships carried plants, animals, Spanish silver and Christian missionaries
what is the age of revolution?
+what did it lead to
-powered by…
ideas about liberty, equality and fraternity(friendship) spread
-this was powered by invention of factories, railways, steamboats, cars and planes
what is the information age?
advances in computer+ communication technology
-1964 Tokyo Olympics watched in America
-satellites
-world wide web +internet
-impacted economies
what is a negative of globalisation?
-increased risk of diseases like Ebola or COVID 19
-environmental harm
what is a positive of globalisation?
-richer countries can aid poorer nations
-diversity->learn, celebrate cultures
sense of unity