3.2.1.1 Globalisation Flashcards
Define globalisation
The world becoming more interconnected politically, socially, environmentally and economically
What are the 4 types of globalisation?
Social, political, economic, cultural
How has globalisation had an economic effect?
TNC’s
- trade products internationally
- often outsource and offshore production in order to lower costs
Trade blocs
- creates economic integration between countries
How has globalisation had a political effect?
International organisations
- harmonise political relations globally (example is the UN)
Deregulation
- removal of state regulations
- allows markets to reach an international scale
How has globalisation had a cultural effect?
Westernisation
- western ideals dominating non western areas (e.g Starbucks in Asia)
Travelling internationally
- people are exposed to different cultures
How has globalisation had a social effect?
International immigration
- creates multicultural societies
Networks
- media allows people to communicate with each other around the world
Global NGO’s
- improve health and education around the world (e.g the WHO)
What is a globalised society?
The idea that almost everyone is influenced by another country or other people
What are the 5 dimensions of globalisation?
Capital, labour, products, services, information
What are flows of capital
The movement of money for the purpose of investment
What are flows of labour?
The movement of workers, who moved to another country for work 
What is the flow of products?
The movement of physical product from one country to another 
What is the flow of services?
Footloose industries where the services provided can be in a different country to where the services are received 
What are flows of information?
Come through through many forms, such as news, social media or messages 
What are the four main groups within flows of capital?
Core regions, periphery regions, the IMF, the world bank 
What are core regions?
Wealthy more developed countries that therefore have more power
What are periphery regions?
Less wealthy, less developed countries that therefore have less power 
What is the world bank?
A global institution that provides disaster relief, or development loans
What is the IMF?
International corporation that aims to provide financial stability, economic growth, and a reduction of poverty around the world 
Describe the diagram for the flows of capital
- The World Bank provides, disaster relief and development loans to periphery regions
- The IMF provides stability loans to periphery regions
- periphery regions make repayments
- Core regions provide loans to fund the IMF and the world bank
- The IMF and the world bank make repayments to core regions
- periphery regions make repayments to core regions through the repatriation of profits and migration
- core regions make payments to periphery regions through bilateral aid, foreign direct investment and remittance payments
What are economic migrants?
People who have voluntarily moved for work, or to increase the quality of life
What are refugees?
People who have had to leave their country due to persecution and have been granted residence in another country
What are asylum seekers?
People who have had to leave their country and are seeking asylum in another country, whether there will become a refugee once they have been granted residence
Major flows of labour in Asia
- largest flows of labour in the world
- mainly stays within Asia
- most move towards the west, where the countries are wealthier and there are better wages