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Globalisation > y12 eoy revis > Flashcards

y12 eoy revis Flashcards

1
Q

define globalisation

A

increasing integration or economies, people, and places around the world through the movement of goods, services and capital across borders

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2
Q

define economic globalisation

A

Financial integration and trade, movement of value
E.g.
-trade blocs
-remittance payments

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3
Q

define social globalisation

A

increasing integrations of human interactions within cultural communities encompassing family, work and education

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4
Q

define political globalisation

A

refers to the amount of political cooperation that exists between different countries

  • WTO
  • UN
  • IMF
  • World Bank
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5
Q

define cultural globalisation

A

the increasing integration of cultures, also known as development of a global culture

  • development of consumerism and increasing Westernisation
  • often causes conflict and opposition
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6
Q

what is glocalisation

A

adaptation of companies relating to the environment in order to be successful in a region e.g. McDonalds doesn’t sell beef burgers in India

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7
Q

What is the role of the IMF

A

International Monetary Fund:
-Channels loans from rich countries to those who apply for it
-In return the countries must agree to running a free market economy, allowing TNC’s to easily invest
-USA exerts great influence over IMF
Can be controversial as occasionally countries are forced to cut back on public services in order to satisfy the deals

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8
Q

what is the role of World Bank

A

WB:

  • Distributes loans with strict conditions on its loans and grants
  • Gives direct loans to mainly developing countries to aid development however in return makes the nation privatise many of its sectors
  • Distributed $65 billion in loans in 2014
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9
Q

What is the role of the WTO

A

World Trade Organisation:

  • advocates liberalisation of trade, especially for manufactured goods
  • advocates for abandoning protectionist attitudes in favour of untaxed trade (china persuaded to lift restrictions on rare earth minerals)
  • It has failed to stop richest countries (E.g. UK, USA) from subsidising their own food producers, this has been harmful to farmers in developing countries who want to trade on a level playing field
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10
Q

what are the 4 types of FDI

A

Offshoring
Foreign mergers
Foreign acquisitions
Transfer Pricing

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11
Q

Define Offshoring

A

moving/developing a new production facilities offshore, often low wage economies, e.g. Fender making guitars in Mexico

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12
Q

Define Foreign mergers

A

two firms in different countries join to create a single entity, e.g. Royal Dutch Shell has headquaters in both UK and Netherlands

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13
Q

Define Foreign acquisitions

A

When a TNC launches a takeover of another company in another country e.g. in 2010 Cadbury was subject to a hostile takeover by US food giant Kraft. UK has few restirictions on foreign takeovers. In contrast the comittee on foreign investment in the USA closely scrutinises inbound foreign take overs

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14
Q

Define Transfer pricing

A

Some TNC’s e.g. starbucks or amazon, have channelled profits through a subsidary company in a low tax country such as Ireland. this limits the amount of tax the comapny must pay. OECD is now trying to limit this practice

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15
Q

What are trade blocs ?

A

voluntary international organisation made to bring economic strength an security to nations, they are mainly focused around trae

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16
Q

Name the advantages of trade blocs

A
  • Free trade (tariff free)
  • Ease of investment + more trade
  • Economic strength and stable trade
  • If one nation aquires a commodity, the rest of the trade bloc can trade it without tariffs
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17
Q

Name what is EU and what are its: Aims/Rules, Political Agreements/Laws and changes over time

A
  • What: European organsisation and trade bloc
  • Aims/Rules:Boost economy, maintain peace and free -movement of people, improve agriculture
  • Political Agreements/Laws: Human rights, free trade, free movement, environment
  • Changes over time: increased membership, eurozone (common currency)
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18
Q

Name what is NAFTA and what are its: Aims/Rules, Political Agreements/Laws and changes over time

A

What: North American Free Trade Agreement (USA, Mexico, Canada)
Aims/Rules: removed all tariffs (2008), free trade
Political Agreements/Laws: Mutual security, economic growth, good relationships and regulate the environment
changes over time: increase in trade by 10% each year, manufacturing jobs lost, want to expand Free Trade Area (FTA)

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19
Q

Name what is ASEAN and what are its: Aims/Rules, Political Agreements/Laws and changes over time

A

What: Association of Southeast Asian Nations (singapore, malaysia, thailand, vietnam etc)
Aims/Rules: long term security, resolve conflict, ecoomic prosperity, niclear weapon free (2004)
Political Agreements/Laws: Security, nuclear weapon free
changes over time: volatile agreement

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20
Q

define free market liberalisation

A

removing restriction on markets to aid economic growth e.g. Margaret Thatchers de-regulation of London stock exchange which meant anyone could trade stocks without going through the London Stock Exchange, led to banking prosperity in London and development of Canary Wharf

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21
Q

define privatisation

A

The transfer of buisness, industry or service from public to private ownership and control e.g. privatisation of British steel, petroleum, Rolls Royce, Airways, water nad electricity

22
Q

What are special economic zones ?

A

An are where the buisness and trade laws differ from the rest of the country e.g

23
Q

Why did China start its open door policy

A

It was initiated by US, it called for portection of equal privileges for all countries trading with China

24
Q

What are the costs and benefits of China’s open door policy

A 
Benefits:
-Lots of FDI
-Economic growth
-Exposure to new technologies and the share of knowledhe
Costs:
-Lack of regulation
-Increased inequality
-Pollution
-Abuse of lack of workers rights
25
Q

How is China now open door

A
  • FDI predicted total of $1.25 trillioin between 2015-25
  • Agreed to export “rare earth” minerals in line with WTO
  • Foreing TNC’s are now allowed to invest in some sectors of China’s domestic markets, including rail freight and chemical industries
26
Q

How is China still closed door ?

A
  • Google and Facebook have little or no access to China’s market (censored companies like Yoku provide social media)
  • China’s government sets a strict quota on only 34 foreign films per year
  • Strict controls on foreign TNCs in some sectors, China’s government blocked Coca Cola’s aquisition of Huiyan juice in 2008
27
Q

What are the top 3 countries of KOF ?

A

1) Ireland 2) Netherlands 3) Belguim

28
Q

What are the top 3 countries of AT Kearny

A

1) Singapore 2) Switzerland 3) USA

29
Q

How does KOF (konjunkturforschungsstelle)

measure globilisation ?

A
  • Economic: cross border transaction + FDI
  • Social: cross-border contacts (phone, tourists and immigrants), also affinity with presence of McDonalds or IKEA
  • Political: number of foreign embassies, memberships to international organisation, oarticipation in UN peacekeeping activities
30
Q

How does AT Kearny measure globilisation ?

A
  • Economic integration: volumes of international + FDI
  • Personal contact: through telephone calls, travel + remitance payments
  • Political engagement: participation in international treaties and organisations and peacekeeping operations
  • Technological conectivity: number of internet users, hosts and servers
31
Q

Why are TNCs considered “architects of globalisation”

A
  • TNCs make up the vast majority of FDI
  • When TNC invests they bring over elements of their culture
  • Create jobs and economic links between nations, this often leads to political implications e.g. Huawei and trump administration
  • Often increase wealth and create opportunities but this doesnt mean employees are treated well
32
Q

defiine outsourcing

A

where a TNC makes contact with a buisness to do some work instead of fulfuling it itself

33
Q

define offshoring

A

where a TNC moves and operates in another country for cheap labour advantage

34
Q

Define and give examples of glocalisation

A

adaptation of buisnesses to the culture and social aspects of a given environment e.g.

  • Beef is replaced with other meats in burgers in McDonalds in India
  • Driving seats are different in the UK
  • sexualised music videos are censored in middle east
35
Q

give reasons for areas being switched off from globalisation

A

Env:
-distance from market, wilderness, low agricultural potential, lack or poor quality of physical resources
Political:
-corruption or terrorist groups, weak governmental commitment, civil or trival conflict, exculasion form trade vlocs or disadvantafed by trade rules
Economic:
-High level of debt, low education levels and poor workforece skills, poor transport and telecommunication infastrucure, dependence on particular industries

36
Q

Why is Cairngorms, Scotland isolated

A
  • Physical landscape is rugged and hilly, dificult to develop infastructure
  • Far from markets/ cities and ports
  • Nearest city and airport is 62km
  • Nearest rode is 22km away
37
Q

Why is North Korea isolated

A
  • Depletion of physical resources and floods destroyed crops
  • Authorotarian autocracy ,ordinary citizens do not have access to social media, sanctions due to human rights abuse
  • Centralised and isolated economy, $10-12 billion debt
  • “Soil is basically dead”, Kim reigime overexploited resources
38
Q

What is the global shift

A

movement of manufacturing industries from developed to emergin economies in areas such as south East, East and South Asia
-Began in 1970’s/80’s

39
Q

what accelerated the global shift ?

A
  • Change of policy to open doors allowing for inwards investment
  • Cheaper manufacturing alternatives became in demand
  • FDI began to flow into emerging ASEAN economies
40
Q

What has resulted in India from global shift

A
  • One of the largest recipients of FDI
  • 50% of global outsourcing in india
  • English became buisness language
  • Developed technical universities
  • Bangalore is now largest outsourcing country
41
Q

How has the global shift in China affected infastructure

A
  • Largest highway and high speed rail network
  • Railway system connects all provnces
  • 82 airports built since 2000
42
Q

How has the global shift in China affected poverty

A
  • 300 million in middle class
  • increase in consumerism, 2013 Chinese bought more laptops and tv’s than Americans
  • 680 million less in porverty since 1981
  • extreme poverty moved from 81% to 10%
  • 20% of China still in extreme poverty, mostly rural areas
43
Q

How has the global shift in China affected incomes

A
  • 10% rise per year since 2005
  • Despite urban inequalities, still higher in countryside
  • law includes 40+ hour weeks with paid holiday
  • Large urban rural divide
44
Q

How has the global shift in China affected education and training

A
  • education is still free and compulsory between 6-15
  • literacy increase from 20% to 94%
  • 5x more uni graduates in 2017 than in 2000
45
Q

How has the global shift in China affected farmland

A
  • 3 million hectares of arable land polluted
  • 12 million tons of grain polluted
  • fertilisers and pesticides polluted
46
Q

How has the global shift in China affected upland settlements

A
  • increased demand for urban housing
  • land prices rocketed making many unaffordable
  • informal housing
  • -exoanded housing in vilages which are used to rent out
  • -farmland is privately developed for housing (illegal under communism)
47
Q

How has the global shift in China affected pollution and health

A
  • Air pollution caused by increased energy
  • 70% of rivers are polluted
  • 100 cities suffer from extreme water shortages
  • air pollution kills 1.6 million per year
48
Q

How has the global shift in China affected land degradation

A
  • 22% of world population but 6.4% of land

- rapid industralisation causing degradation in 40% of farmland

49
Q

How has the global shift in China affected biodiversity

A
  • 2015, terrestrial vertebrates have decreased by 50% since 1970
  • all due to degredation of natural environments
50
Q

How has the global shift in China affected resources

A
  • despite abundance of coal, it is not enough to satisfy ever increasing energy demand
  • consequently china is importing additional resources in Africa and latin America, amazon rainforest etc

Globalisation (3 decks)

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