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Geography > Unit 4 > Flashcards

Unit 4 Flashcards

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1
Q

Globalization

A

In increasing interdependence of countries, including economic, physical and political system

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2
Q

The three forms of globalization:

A
  1. Economic - TNCs
  2. Social - impact of western culture on the world
  3. Political - growth of western democracy’s and their influence on poorer nations
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3
Q

Capital

A

People, knowledge or money

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4
Q

Cross border flows

A

Transactions of capital, knowledge and people across political borders

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5
Q

Global connectedness

A

The depth and breadth of a country’s integration with the rest of the world

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6
Q

Emerging economies

A

Economies that are developing from LEDCs to MEDCs

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7
Q

Global interconnections

A

Interactions between nations on a global scale

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8
Q

Ways of measuring globalization

A
  1. KOF index

2. Kearney index

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9
Q

Explain the KOF index

A

It is based on the economic, social and political factors.

Advantages:

  • allows comparisons
  • uses 24 variables so it is more accurate
  • has been calculated for a large number of countries over a long period of time
  • uses available data such as number of McDonald’s
  • Uses a weighing system that reduced the affect of missing data

Disadvantages

  • smaller countries are seen to be over represented
  • some variables of questionable such as international mail
  • ignores informal economy which amounts of a large proportion of actual trade
  • many countries have large number of illegal foreign immigrants that are not counted
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10
Q

Explain the Kearney index

A

Based on:

  • political integration
  • economic integration
  • technological integration
  • personal integration

Advantages:

  • allows comparison
  • covers 84% of worlds population
  • covers 96% of GDP

Disadvantages:

  • Only 64 countries are listed
  • Hard to measure cultural trends
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11
Q

Superpower

A

A country that has a dominant position characterized by its extensive ability to exert influence or project power on a global scale.

Economic, military, cultural and technological

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12
Q

Hegemony

A

It’s the power or control that one state holds over another

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13
Q

Imperialist

A

Act of imposing ones sill on another culture or state to create an empire

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14
Q

Influence

A

The power to change it affect someone or something

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15
Q

Which country is the ultimate superpower

A

USA

Economic influence:

  • The USA has been the worlds largest economy since 1871
  • They are 26 million in debt
  • They our China 1.1 million

Geopolitical influence:

  • Spends 700 million on the military which is the largest 1 in the world
  • They own 80 aircrafts, second largest in the world
  • Produces 7 billion metric tons of carbon dioxide, second largest in the world
  • Largest reserves of coal
  • Largest contributes of military aid to foreign countries in the world, assistance to 150 countries

Cultural influence:

  • Americanization, the influence of American culture on other countries has become more prevalent since the dissolution of the Soviet Union in 1991
  • Most in-line social networking companies are American (Apple, google, amazon)
  • largest fast food chain “Mc Donald’s” is in over 100 countries
  • Large film industry since the 20th century

EU and China and followed closely behind…

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16
Q

G7

A

An organization made up of the worlds 7 largest economies

They meet 2 a year and discuss how to resolve global problems

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17
Q

G8

A

G7 expanded to G8 as Russia joined

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18
Q

G20

A

20 of the most dominant countries as they want to achieve economic stability

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19
Q

OPEC

A

Organization of petroleum exporting countries

Members:
13 members

What do they do:

  • endure the stabilization of the oil market
  • coordinate and unify petroleum policies

What have they done:
- prevent fluctuations in oil prices

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20
Q

OECD

A

Organizations of economic co-operation and development

Members:
37 members

What do they do?
They promote economic growth and sustainable development

What have they done?

  • 1.8 million people exposed to mass media providing information about trafficking
  • nearly 75 million golfers registered in 40 countries
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21
Q

Global financial institutions

A
  1. The world bank
    Aim: to achieve sustainable development goals and poverty
  2. Development bank
    Aim: mobilizing infrastructure

3.The International Monetary Fund
Aim: to provide loans

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22
Q

International trade

A

Import and exports across international borders

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23
Q

Illegal flows

And their trends

A
  • drugs
  • human trafficking
  • counterfeit goods

Poor and rich countries export illegal goods such as counterfeit medicine from China to Africa

Helps HICs get richer

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24
Q

Financial flows, from the core to the periphery

A
  1. International aid
  2. Remittances
  3. Debt relief
  4. Loans
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25
Q

Remittances

Advantages / Disadvantages

A

When people send money back home…

Advantages

  • decrease in poverty
  • school dropout rate is lower
  • decrease in poverty

Disadvantages

  • many countries ban this
  • poor get exploited due to sending money home

What can be done:

  • Reduce remittances cost from 8% to 1%
  • Relax regulations on small remittances ( recognize it’s money laundering)
  • Promotes competitiveness of post office so they reduce the the cost of money transfer
  • Create a non profit remittances platform
  • Abolish exclusive partnership with post offices
26
Q

International aid

Who has been helped the most?

A

Any form of needed assistance by one country to another

Which country has received themost foreign aid?
India has received the largest amount of aid ($4.2 billion) and Turkey at a close second ($4.1 billion)

Details on Nigeria’s loans from the World Bank:
The World Bank is helping fight poverty and improve living standardsfor the people of Nigeria with more than130 loans and IBA credits since1958.

27
Q

International loans

A

When one country borrows money from another country’s government

28
Q

Debt relief

who is it provided to?

A

The world bank provides it so they can not spend their money on debt and rather on development

Where does the World bank provide debt relief?
Debt relief is provided by the World Bank in 39 African nations as well as Afghanistan, Bangladesh, Pakistan, Syria in South Asia and Yemen in the Middle East

What is the HIPC debtinitiative:
The program was designed to ensure that the poorest countries in the world are notoverwhelmedbyunmanageableor unsustainable debtburdens. It reduced debt of countries meeting strict criteria.

Why do countries get into debt?
Borrowing began in the 1970s when commodity prices were high and were expected to remain high for a very long time, but they didn’t, and world interest rates increased. This made it impossible for these countries to serve their debts.

Results of receiving relief:
• Increase social spending (health, education, sanitation, projects)
• The direct effect is a more modern and more efficient education and healthcare system
• Every year there is an increase in a countries budget thusevery year there are improvements
• Improvements in quality of services
• Roads networkand structureimprovementswhich help with agriculture production, increasing income

29
Q

Foreign direct investment

A

An investment made by a firm or individual in one country into business interests located in another country

30
Q

Outsourcing

Advantages and disadvantages

A

When a country transfers part of its work to outside suppliers it companies instead of completing it internally

advantages:

  • saves costs
  • can hire best exports
  • can have less healthy and safety

Disadvantages

  • takes time to set up
  • May be time differences
  • difficulties in communication
31
Q

Transnational corporations (TNCs)

Why and why are TNC’s powerful?

Advantages and disadvantages

A

Are companies that operate in more than one country

They utilize shifting from HIC to LICs to maximize efficiency, growth and reducing costs while increasing profits.

Advantages
• Creation of jobs
• Stable income and more reliable than farming for lics
• Improvement on education and skills
• Investment in infrastructure (new roads, helps locals)
• Better developed economic base for the country

Disadvantages
• Natural resources are being overexploited
• Poor working conditions and pay
• Factories are footloose (can be set up anywhere) and jobs are insecure. If labor cost increases the factory will leave.
• Profit goes to overseas companies rather than locals

32
Q

Global strategy

A

Refers to plans an organization has developed to target growth beyond its borders

33
Q

Supply chains

A

A network between companies and their suppliers to produce and distribute a specific product to a final buyer

34
Q

International acquisitions

A

A situation in which a company buys and takes control of a company in another country

35
Q

Tariffs

A

Tax put on imports between states

36
Q

Quotas

A

A limit on the volume of goods

37
Q

Trade war

A

When a country retaliates on another country by increasing their tariff and quotas then the country will do the same

38
Q

Trad blocs

Three trade blocs:

What are the advantages of countries being in a trade block?

What does the EU do to become a trade block ?

Products which duty is applied to:

A

Agreements where trade barriers are reduced between places to make international trade easier

Three trade blocs:

1) European Union – most integrated trading bloc
2) ASEAN Free trade area- Association of South East Asian nations
3) SAFTA – South Asia free trade

What are the advantages of countries being in a trade block?
⎫ Economies of scale – Large markets created by trade blocs permit companies to take advantage of eos

⎫ Trade effects – Trade blocs eliminate tariffs which drives down the cost of imports.

⎫ Increased foreign direct investment – This may result from the creation of trade blocs. Benefits economies by creating jobs in new or expanded businesses.

⎫ Improved market efficiency – Increased competition and the removal of tariffs, may drive down prices and allow of increased consumption.

⎫ Competition – Trade blocs force the manufactures in participating countries to compete with each other. Increased competition creates pressures for greater efficiency within firms, which results in lower prices for consumers.

What does the EU do to become a trade block ?
• Remove trade barriers such as tariffs

How will trade between the UK and EU change after Brexit?
When traveling from the IK to the EU VAT will be applied on all other goods which weren’t before like cigarettes

Products which duty is applied to:

  1. Alcohol
  2. Cigarettes - tax contributes to cancer research and smoking prevention. It will lead to a reduction in demand.
39
Q

Economic migration controls

A

Policies or law put in place to reduce the amount of migration in a country

40
Q

Free trade zones

A

A duty free area on goods and services

41
Q

Multi-government organizations (MGO)

A

An international treaty for two or more nationals

42
Q

Advantages if countries being in a trade bloc ?

A
  • economies of scale
  • trade effects
  • Increased foreign direct investment
  • improves market efficiency
  • competition
43
Q

Special economic zones

A

Specifically dedicated Dury free zone and is deemed foreign territory for the purpose of trade operations and duties and tarrifs

44
Q

Economic migration

A

The movement of people from one country to another with the purpose of a greater economic opportunity

45
Q

The evolution of boats

A
  1. 8000 BC - make from a trees bark
  2. 1990 - cruise ships
  3. Today - container ships
46
Q

Explain how the world is shrinking ?

A
  • communication technology

The internet is a massive part of the world connecting (1991) and Facebook in 2004

Telegraph cables are put underwater through the dead

47
Q

HIPC

A

Heavily Indebted Poor Countries

48
Q

MDRI

A

Multilateral Debt Relief Imitative– Provides additional resources for the world’s poorest and most indebted countries

49
Q

The link to the core and the periphery

Why does it happen?

Advantages:
Potential problems:

A

The link to the core and the periphery:

The core such as US takes advantage of the periphery. The core is where all the innovation occurs (comes up with ideas and designs) and then will outsource their production to the periphery due to low costs and easy health, low taxation rates, access to those markets and easy health and safety regulations.

When has it been happening since?

The United states is ranked 1st in receiving the most foreign direct investment, with china in second place then followed by Hong Kong and Singapore.

Why does it happen?

  1. Take advantage of lower labour costs in other countries (e.g. India is one of biggest recipients of FDI, where labour costs are much lower than in the OECD.
  2. Take advantage of proximity to raw materials rather than transport them around the world.
  3. Avoid tariff barriers and other non-tariff barriers to trade.
  4. Reduce transport costs. For example, by producing cars in the UK, Nissan has lower transport costs for selling to the UK market.
  5. Opportunities for using local knowledge to help tap into domestic markets. For example, by investing in a foreign country and working with local workers, a multinational can gain a better insight into what works well for local markets.

Advantages:

  • Capital inflows create higher output and jobs.
  • Capital inflows can help finance a current account deficit.
  • Long-term capital inflows are more sustainable than short-term portfolio inflows. e.g. in a credit crunch, banks can easily withdraw portfolio investment, but capital investment is less prone to sudden withdrawals.
  • Recipient country can benefit from improved knowledge and expertise of foreign multinational.
  • Investment from abroad could lead to higher wages and improved working conditions, especially if the MNCs are conscious of their public image of working conditions in developing economies

Potential problems:

  • Gives multinationals controlling rights within foreign countries. Critics argue powerful MNCs can use their financial clout to influence local politics to gain favourable laws and regulations.
  • FDI may be a convenient way to bypass local environmental laws. Developing countries may be tempted to compete on reducing environmental regulation to attract the necessary FDI.
  • FDI does not always benefit recipient countries as it enables foreign multinationals to gain from ownership of raw materials, with little evidence of wealth being distributed throughout society.
  • Multinationals have been criticised for poor working conditions in foreign factories (e.g. Apple’s factories in China)
50
Q

Things that have helped outsourcing:

A
  1. Containerization

2. Communication

51
Q

How would you measure globalization?

A
  1. International trade
  2. Foreign direct investment
  3. Capital market flows
  4. Migration
  5. Diffusion of technology
52
Q

Reasons global trade takes place:

A
  1. Differences in demand
  2. Differences in technology
  3. Difference in resource endowments
  4. The presence of economies of scale
  5. The presence of government policies
53
Q

Reasons why trade is growing:

A
  1. Rising living standards
  2. Providing employment
  3. Enabling consumers to enjoy a greater variety
  4. Increasing population
54
Q

What can we do about illicit financial flows?

A

GFI believes the most effective way to limit illicit financial flows is to increase financial transparency and recommends governments enact policies to:

  • Strengthenanti-money laundering laws and practices;
  • Improvetransparency of multinational corporations.
55
Q

Why would a country want to limit the amount of in-migration within its borders?

A

In-migration is the movement of people from one area to a new area within their country.

  • A country may want to limit this as high population density can often lead to job scarcity, which would cause many to be unemployed.
  • Another reason may be to reduce the strain on local healthcare and education systems due the overcrowding effect.
56
Q

Physical influences on global interaction, Dubai

A

Dubai’s background information:

The pearl industry started to decline in the 1930s.
Abu Dhabi found oil during the peal industry’s recession, and Dubai couldn’t find oil. Tensions escalated into an armed conflict and Dubai fell into a deep depression. Many people moved locations and were starving.

By 1958 the Shaik took out big loans to establish private companies, transportation and utilities, this helped it established relations with other nations.

Now Dubais economy is now based on trade, tourism and finance.

Which physical factors were important in allowing Dubai to become a global city?

1) Pearl diving and a fishing town = By the earliest 20th had become a trading port
2) Its location, next to Iran and the entrance to the Persian Gulf attracted merchants all over the region.
3) More than 20 industry frees zones that provide:
- Tax breaks
- Custom duty benefits
- No forging ownership restrictions
4) Several thousand companies have now been set up close to the trading hub
5) Good relationships with other countries that resulted in trading.

Costs:

  • 6th largest migrant population
  • Foreigners making up nearly 80% of the people living there
  • Cheap workforce at long hours
57
Q

How diamonds have transformed Botswana

A

How it came about:
In 11966 Botswana gained independence from Britain and its best kept secret was made public: it had diamonds and lots of them.

At independence the capital was a remote cattle station on the edge of the desert and now thanks to the minds revenue it is thriving, modern city.

In other African nations the findings of diamonds have been a curse as they’ve lead to exploitation, subversion and division. In Botswana the nations geological wealth has been shared (3millions US dollars year).

The country used to be reliant on agriculture and now that has changed to diamonds.
There are enough diamonds here to keep them busy for decades.

What did they do with the diamonds?
The government used them to open health facilities, education and a immaculate improved quality of life. The entire community has access to the facilities.

The hospital used to be a one room in a house and now it a fully functioning hospital.

58
Q

Geographic isolation of remote islands, Guam

A

The potentially limiting effect of geographic isolation – Remote island nations

1) Guam

What is it?

  • Americas most isolated territory.
  • It has 5 inhabited territories and Guam is the furthest of these 5.
  • 160,00 people are homed there, more density populated than all but 5 states.

Status:
By far the most developed place in Micronesia. Its neighboring islands have an average GDP of 16,000 while Guam’s is more than 35,000.

When did people find out about it?
It has been inhabited for thousands of years but was learnt about when North Koreas leader threatened to launch a mission at Guam.

Location:

  • Its location is its greatest asset. Its economy exists because of where it is. It’s close to Asia yet it is part of the US.
  • Lots of tourists from Asia can travel 3 hours to Guam instead of 7 to Hawaii or any other closest American state and skill get all the benefits as the culture in Guam is 100% American. Tourism was nearly all lost apart from the news because of the missile threat.

Disadvantages:
Guam functions politically differently from the rest of the US. All the US federal laws apply in Guam although they do not get a vote for anything. This is bad as laws that are beneficial to the continental US don’t to a small island.

o Guam wants control over their sky’s so they can invite airlines in without haves to check with FAA. The process for foreign airs gaining approval to fly to the US is long which isn’t a problem for large intercontinental airlines but for small regional Asian carries they may avoid flight to Guam to avoid FAA approval.

o The jones act prevents the forging build or owned ships carrying cargo or passengers between US ports which makes sense between the continental US but not for Guam. As it makes sense for a Taiwanese ships to do but only US ships are allowed to transport goods from the US to Guam. Other islands are exempt from this rule like American Samoa and Northern Mariana Islands.

What Guam wants / advantages:
Most Guam citizens want a closer relationship with the US and even want statehood. Guam is one of the most patriotic areas of the US. The US military freed them from a brutal and deadly occupation from ww2.

  • Highest enlistment for the US army
  • A quarter of the island Island is US military bases. It’s one of the US’s military most strategic assets
  • Guam is on the rise and depends on the military. Military on the island will double helping the economy.
59
Q

Geographic isolation of remote islands, St Helana

A

1) St Helena

What is it?
A small island that Is part of the British Overseas Territories.

What are they trying to do?
They are trying to build an airport there. This is because in a modern world without an airport they have very little chance of competing. There is line dedicated trip to get there and it takes three weeks.

Why are they doing it?

  • The constraints have led to a decline in St Helena’s development in the last 50 years
  • The population has decreased over 20%
  • This is why after 10 years of deliberation the government has decided to build an airport

Challenges:

  • All they get on the island is rock, water and people so everything has had to be brought in and their own new ship. There are moving over 72,000 tons of cargo.
  • Build a 14km road to move the cargo from the port to the airport

Hopes:

  • To have one a week flights, make it some sort of tourist attraction
  • Essential for developing a economy
  • Reduce requirements for a subsidies from the British Government
60
Q

Geographic isolation Land lock countries, Kyrgyzstan

A

A landlocked country – a country surrounded by land
(35% of landlocked countries have some sort of navy.)

Natural resource – Stocks of materials that exist in the natural environment that are both scare and economically useful in production or consumption either in their raw state or after a minimal amount of processing

Kyrgyzstan

A landlocked country that is also one of the poorest states of the union.

Situation:
It is very mountainous country which makes economic development difficult. The country has some natural mineral such as gold but does not have enough oil or gas. Its mountainous terrain has separated its northern and southern regions causing differences in its political and social aspects.

Problems:

  • Created unstable political environment as they’ve experiences two revolution sin the last 7 years.
  • Water shortages have caused disputes with neighbors

Advantages:
- Its location makes it an area of competition between larger powers.

61
Q

Geographic isolation Land lock countries, Nepal

A

Nepal
This country is landlocked as it lies between India and China. Nepal is divided into three sub regions:
1)

A mountainous border region

2)

A central hilly area
3) A fertile low lying marshy plane

It is irrigated by tributaries and supports over 90% of the 27million people.

Only 17% of population live in urban areas, the largest being the capital. Nepal transformed from a monarchy into a modern republic.

Its challenge:
- Struggles to remain independent and maintain a distinct identity from surrounding global powers. This is difficult with their increasing economic connections with neighbors.

Geography (10 decks)

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