lesson 2- flows of globalisation Flashcards
what does BRIC mean?
Brazil, Russia, India, China
-countries economies rapidly advanced in the 1990s-2000s
what is diaspora?
a large group of people with a similar heritage/homeland, but have moved and settled in different places around the world
what is an economic leakage?
loss of income from an economic system
-generally profits sent home from TNCs
what does MINT mean
Mexico, Indonesia, Nigeria, Turkey
-more recently emerging economies
what is containerisation?
method of transport that uses steel containers to transport goods
-cheaper and more efficient
Flow of labor
+example
now not as free flowing due to immigration restrictions
-rise in migration rates from LIC->HICs
largest flow is in Asia
example- the remittance dilemma in Somalia 2012
-40% of people rely on remittance
-gets $1.2bn a year from remittances
flow of products
supported by reductions in trade cost and transport costs
-containerisation
what model shows the flow of capital
Immanuel Wallerstein’s world system model
what is a service?
flow of services
-economic activities that are traded without the production of material goods
-high level services-to businesses, e.g. finance, advertising
-low level service-to consumers, e.g. banking, customer call centers
flow of information:
governed by
responsible for
transformed by
-governed by movement of people and speed of data + communication
-responsible for transfers of culture, language, technology
-has been transformed by phone network improvement, internet, emails and live media (satellites)
Mexico:
remittances make up __% of their GDP, and will ________ in 2025
__% of their remittances are from the US, and __% from _____
-helps_______ _______
-lack of_________
remittances make up 3.5% of their GDP, and will increase in 2025
96% of their remittances are from the US, and 1.5% from Canada
-helps economic problems
-lack of independence
