Lesson 4- factors in globalisation

Question 1

what is the difference between a dimension and factor of globalisation?

Answer 1

dimension= things that have been impacted by globalisation

factors=things that have driven/caused globalisation

Question 2

how does new technologies act as a factor of globalisation

Answer 2

information can be shared easily,cheaply and instantly with huge audiences
-e.g. mobile phones- important for less developed economies (LDEs)

Question 3

how does global financial systems act as a factor of globalisation?

Answer 3

-banks and financial services operate and are linked together. This allowed lending and flow of capital
-2007 collapse of US house prices caused a global banking crisis- impacted capital flow

Question 4

how does security as a factor of globalisation

Answer 4

-as national boundaries have become less of a barrier, security measures have become less significant and lead to increased flow of increase
-cybersecurity is getting increasingly important to protect against information leaks

Question 5

how does trade agreements act as a factor of globalisation?

Answer 5

without trading rules, flow of products may be disrupted as favouritism and unfair trade occurs