What is globalisation?

Question 1

Define globalisation.

Answer 1

a process of opening up world trade and markets to TNCs and an increasingly interconnected world

Question 2

What are TNCs?

Answer 2

transnational companies

Question 3

What are the impacts of globalisation on the flows of information, technology and capital?

Answer 3

• cheap, reliable, instantaneous communication across the world allows for information to be shared
• money flows electronically across the world
• technology mostly ignores political boundaries when connecting people
• countries eg. India provide financial and IT services for other HICs

Question 4

How does the fact that money flows electronically across the world affect countries development?

Answer 4

HICs can then invest in LICs and take advantage of cheaper production costs

Question 5

What are the impacts of globalisation on flows of products and labour?

Answer 5

• global transport systems are cheaper and more efficient at moving goods and people
• high speed rail networks, international airport hubs have been created
• people move around the world for employment
• tourists travel to remote locations

Question 6

Give an example of a high speed rail network.

Answer 6

HS2, in the UK from Birmingham to London

Question 7

What’s the busiest international airport currently?

Answer 7

Dubai

Question 8

What are the impacts of globalisation on flows of services and global marketing?

Answer 8

• marketing is globalised
  -TNCs use the smae adverts to advertise their products across the world
• Global products such as Coca-Cola is known across the world

Question 9

What are the impacts of globalisation on patterns of production, distribution and consumption?

Answer 9

• TNCs dictate where their products are made- generally in LICs where labour is cheaper
• Products are distributed across the world to meet demand from HICS

Question 10

What are the 5 factors of globalisation?

Answer 10

New technology
global financial systems
transport systems
security
trade agreements

Question 11

How is globalisation influenced by global financial systems?

Answer 11

• banks operate across the world to allow lending and flows of money

Question 12

How is globalisation influenced by transport systems?

Answer 12

• allows the movement of peopple and goods across vast distances
• there are new opportunities (trade between countries) and new threats (spread of diseases)

Question 13

How is globalisation influenced by security?

Answer 13

• national boundaries are less of a barrier
• cybersecurity- eg. in 2016 1.5 million financial and legal records were leaked on a global scale

Question 14

How is globalisation influenced by new techology?

Answer 14

• information can now be shared easily and cheaply across the world
  -mobile phones are important at connecting different people, markets and trade

Question 15

How is globalisation influenced by trade agreements?

Answer 15

• without this countries would resist some foreign imports and may favour others

Question 16

When was the world trade organisation founded?

Answer 16

1994

Question 17

What is the World Trade Organisation (WTO)?

Answer 17

oversees over 97% of world trade to ensure trade agreements are followed