Topic 3-Enquiry Question 1-What are the causes of globalisation and why has it accelerated in recent decades? Flashcards
What is a flow?
The way things connect internationally
What does the term lengthened mean?
Products and services are sourced from distant places
What does the term deepened mean?
Over time a sense of connectivity is felt in many areas of everyday life
What does the term grow faster mean?
Speed of connections means we can talk to anyone, and travel the entire earth in a day
What does commodities mean?
raw materials, fossil fuels, money
What is a shrinking world?
The idea that the time taken to navigate the world is getting smaller
What has allowed a shrinking world?
Better infrastructure
steam ships
jet air craft
CONTAINERIASATION
What is time space compression?
Processes that cause the relative distance between places to contract making them ‘grow closer’
How has containerisation accelerated globalisation?
They are intermodal containers
What has allowed rapid globalisation in the 21 centaury?
ICT and mobile phones
What is an E-business?
Re-shaping business organisations and processes via computer networks
What is an E-commerce?
The sale of goods via the internet
What is the IGO?
Intergovernmental Organisation which are made up of two or more countries working together
What is the WTO?
World Trade Organisation
What is the IMF?
International Monetary Fund
What is FDI?
Financial injection into another nations company
What is a special economic zone?
An industrial area often near a coastline where favourable conditions are created to attract foreign TNCs
What is a patent?
Inventing and getting rights to it so people can not copy it
What is glocalistation?
adapting a ‘global’ product to take account of geographical variations
What is a trade block?
they help to boost manufacturing which is more profitable than trade in commodities
What are two examples of a trade block?
EU-European Union
ASEAN-Association of Southeast Asian Nations
What is a SEZ?
Special Economic Zone
What is global shift?
The relocation of companies from OECD countries to NIC’s
What does OECD mean?
Organisation of Economic and Cooperation and Development
What is Americanisation/ Westernisation?
The growing influence of American or Western culture and economy on other countries
What does the AT Kearney Index measure?
political engagement, technological connectivity, personal contact and economic integration
What does the KOF index measure?
the economic, social and political dimensions of globalization
What is outsourcing?
the act of getting goods and services from other cheaper locations rather than locally
What is offshoring?
the process of moving a part or whole business to another country in order to save money and increase efficiency
What is the ASEAN?
Association of South East Asian Nations
