4.2 Global networks and flows Flashcards
what is a network?
A network is an illustration or model that shows how different places are interconnected through different kinds of flows, movement and transfer.
what is the difference between topographical maps and a network map
Topographical map represents real distance whereas network maps represents perceived distance between two places depending on the factors of connectivity.
what is a global hub?
Well-connected places are called global hubs in network theory. London, New York city, Singapore, Shanghai, Hong Kong are exampls.
what was the global gross domestic product value in 2015?
US$80 trillion
out of the US$80 trillion of global gross domestic product value, how much was generated by trade flows in agricultural and industrial commodities?
1/3
why has trade in raw material increase between 2000-2010?
the rapid development of emerging economies, especially china, India and Indonesia.
Rising industrial demand for materials and increasing global middle class consumer demand for food, gas and petrol are responsible for almost all growth in reaosce consumption.
why has manufactured good shipping increased?
firstly the growth in textiles and electronic goods are fulled by low production costs in China, secondly by supply chain growth in counties where rates of pay for workers are even lower including Bangladesh, Vietnam and Ethiopia.
what is core and periphery refering too in this unit?
core and periphery in the past, the development world ‘core’ regions of Eurupoe and North America exploited the human and natural reasorces of the much larger and less dveloped ‘perofephries’ regions of Asia , Africa and Latin America.
the trade patterns 60 years ago are very diffrent to the ones we have today, can you explain them?
The marjoirty of high value managefactured goods were producedd and sold in North America, Europe, Japan and Australasia.
Factories in these regions made use of raw, materials imported Asia, Africa, and South America.
Until recently, these uneven trade flows contributed to the persistence of a global core and periphery systm sometimes called the ‘north south deivde’.
what are the some examples of things that transformed South Korea and China into sites of innovation?
Koran electronic ginat Samsung and Chinas Huawei
facts about how the georgaphy of consumption chnaged for managfactued goods?
more than 1 billion moblie devces have been sold in Inida. Inida is also the worlds fastes growing car market. Large or fast-growing African econmocies including Nigeria , South Africa, Egypt and Kenya are increasinly viewed as improtant marktes by manufacturing ompaies.
what things have led to a rise in the global service market in emerging economies?
the rise of middle class spending power, reulatory and technological changes.
can you give a stat about the global service market?
the global service market is wort mor ethan one trillion US dollars in 2015.
what are some impornat servise sectors that have been emegering?
Tourism
finaical services and insurance
online media and retail
can you expand of tourism as a service secotr that was been emerging?
The value of the international tourist trade is widely believed to have doubled between 2005 and 2015 to a figure in excess of US$ 1 trillion ( it is hard to make a precise estimate due to the many indirect benefits it creates).
The number of international tourist arrivals has doubled in the same period and now exceeds 1 billion people.
what is an example of where Tourism has boomed as a service sector?
Much of the growth activity has been generated by touristic movement in Asia. China Now generates the highest volume of international tourism expenditure, while Europe receives more tourist arrivals than any other continent.
can you expand on ‘financial services and insurance’ as a service sector that was been emerging?
Free-market liberalization has played a major role in fostering international trade in financial services.
For instance, the deregulation of the City of London in 1986 removed a large amount of ‘red tape’ and paved the way for London to become the world’s leading global hub for financial services.
what is an example where free-market liberalization has expanded the service secor of ‘Finaical servises and insureance’?
In the European Union, cross-border trade in fianical services has expandied in the absence of barriers.
Large banks and insurance comapnies are able to sell services to customers in each of the EU’s member states.
can you expand on ‘Online media and retail’ as a service sector that was been emerging?
One important recent development in global trade has been the arrival of on-demand media services. Faster broadband and powerful handheld computers have allowed comapines such as Amazon and Netflix to stream films and music on-demand dircetly to consumers.
who eles has benifited from the online media and retail sercvice secotr growth?
Global divliary comapies such as DHL have reaped the benifts of e-commerce growth.
some counties and world cities serve as important gloabl hubs for particular flows, can you give two prominant examples?
- Important stock markest are found in New York, Tokyo, Shanghi and São Paulo.
- Nigeria and South Korea have successful television and film industries with many views in nabouring counties.
what is the GFC?
the Global Financial Cricis
when did the GFC take place
2007-09
what caused the GFR?
the GFC originated in the US and EU money markets, where sales of high-risk financial services and products triggered the faliour or near collapse of several leading banks and institutions.
what was the consequence of the GFC?
The resulting shockwaves undermined the entire world economy,
Some counties experienced severe economic difficulty in the immediate aftermath.
Examples include Portugal, Greece and Irland.
sevral key data indcators indicate what abut the effects of the GFC?
that the long-term downturn in world trade flows has continued to affect developed,e merging and developing economies alike since the GFC.
what are some statistics about the GFC and its after mass?
In 2016, for the fifth consecutive year, global trade did not grow.
oil and some natural gas resource prices have fallen due to the global industry slowdown. As a result, economic growth in Sub-sahara Africa has halved, leading to several countries to ask the International Monetary Fund (IMF) for help.
A significant slowdown of emerging econmoies has occured: Brazil, Russia, South Afria and Nigeria recorded minimla growth or enetered a regression in 2016.
Container shipping movments have also declined. The baltic Dry Index (BDI) - a messure of the price for shipping dry goods such as iron ore and coal- reached a record low in 2016.
what is the last importat influence on the world trade?
chinas economy maturing and slow down.
can you give a stat about chinas slow down?
Dispite being the world leading economy by some messers, its growth rate has halfved recently since 2007 from 14% to under 7%.
what is a way you can discribe chinas as after a slow down?
Chinas was globalization’s growth locomotive.
what is the nature of this change and why?
it is a parminant rather than cyclical change beacuse China has entered a new and slower fase of economic development.
This is beacuse instead of exlorting cheap mass-manifactured goods, chinas leaders have shifted the coutnires economy towards the procudtion of more sofphisticared and higher-value consumer items for its own domestic market.
what has been the effect of Chinas slow down?
it has reduced chinas demand (and therefore global demand) for natural reasorces, therby ending a decade-long global commodies boom or ‘super cycle’.
Prices fall when markets weaken and in 2016 the prices of iron ore, aliminium, copper, gold, platinum and oil reached their lowest levels since GFC.
