What Are The Causes Of Globalisation And it’s accelerating pace Flashcards
What is globalisation
Basically means everything goes global trade goes global
companies go global communication goes global
culture goes global
What is economic integration
Economies are coming more more connected through trade and the movement of goods and capital
What does economic integration motivate
Improve transport and communication and spreads culture
What are the positives of economic integration
Opportunities to be able to buy and sell any country in the world the
growth of global marketing finance
opportunities for labour and capital to locate anywhere in the world
How does the movement of TNCS to lower cost areas affect the consumer market?
More choice a lower price is providing incentives for competitiveness
What can exports stimulate
Job creation - earning valuable foreign currency
What does FDI stand for
Foreign direct investment
When was the General agreement on tariffs and trade signed
1948
How many countries agreed to the general agreement on tariffs and trade in 1948
23 countries route 45,000 Thai concessions in US$10 billion of trade
By 1973 how many countries are joining GATT agreement
102 countries agreed in tariff reductions worth more than US$300 billion
When was the world trade organisation founded
1994
How many governments agreed to the WTO Tariff reductions
123 countries agreed major reductions in tariffs and agricultural subsidies
What did the WTO agreement allow access to
Full access for textiles and clothing from developing countries and an extension of intellectual property rights
When was the Doha development round created
2001
What are the main disagreements in reducing trade barriers in the present day
US and the EU and emerging economies like Brazil disagree over agricultural subsidies which are viewed as a type of trade barrier
What factors might have accelerated globalisation
TNCs
Newmarket
transport costs
computer/Internet technologies international organisations
Why are TNCs considered the architects of globalisation
They invest abroad and build links between the places that make products and the places That consume the goods and services
What happened in the 19 century reduce the cost of moving goods internationally
Railways
Telegraph
steamships
What led to further reduce transport and handling costs in the 20th century?
Containerisation and aviation/airfreight
How can manufacturing and diversification to be coordinated
By providing a wide range of new services, features or products to customers in a new market
What is the name of the creation of recognisable global brands?
Brand recognition
Why do companies invest in new markets
To make profits more consumers create more potential sales in this higher potential profits
As they are able to sell goods to a whole new area
What are examples of some current new markets
India and China has encourage businesses to invest money in the hope of generating more sales
When were the earliest computers developed
In top-secret by the US and UK during World War II