General Globalisation Revision 1 Flashcards
(37 cards)
What is globalisation?
The increasing interdependence between countries through flows of capital, trade, goods and services as well as culture and ideas.
How has the rate of globalisation changed over time?
The rate of globalisation is increasing, with LEDCs becoming more involved in global markets and forums, while MEDCs become increasingly interdependent on one another.
What has increased the influence of transnational companies (TNCs)?
The volume and influence of TNCs has increased, with many TNCs having incomes higher than the GDPs of many countries.
What role do trade blocs play in globalisation?
Trade blocs (e.g. NAFTA, EU) have become more influential and have reduced tariffs and other protectionist measures.
How has online purchasing impacted globalisation?
Online purchasing between countries is becoming increasingly common.
What do IGOs like the IMF, WTO, and World Bank do?
IGOs work to harmonise economies while promoting democratic ideology.
What type of investment involves countries investing in each other?
Foreign Direct Investment.
What is a significant activity of financial businesses in globalisation?
Trading large amounts of currencies to make profit.
How is political ideology expressed globally?
Through worldwide media outlets such as BBC, Fox, and CNN.
What impact has international migration had?
It has led to extensive family networks living across the globe, spreading culture and finance through remittance.
How has international tourism changed?
International tourism has increased as more people can travel abroad for holidays due to lower transport costs.
What effect does the import of goods have on countries?
It increases countries’ interdependence on one another.
What has contributed to the rapid increase in the volume of manufactured goods?
Low-cost countries such as Bangladesh and Vietnam.
What phenomenon describes the influence of American culture on other parts of the world?
Americanisation and Westernisation.
How has technology contributed to globalisation?
The internet has allowed the rapid spread of information and knowledge.
What is the significance of social networking sites in globalisation?
They allow the spread of culture, ideology, and opportunities for migration and tourism.
What are enormous server farms used for?
They store substantial amounts of data.
Fill in the blank: The internet has rapidly allowed the spread of _______.
information and knowledge.
True or False: TNCs have incomes lower than the GDPs of many countries.
False.
What are transnational corporations (TNCs)?
Companies that trade products internationally and use international outsourcing and offshoring to lower costs.
What is the economic impact of moving industries to developing countries?
It brings economic growth to those countries by saving money on labor.
What do trade blocs do?
They create economic integration between states and promote development.
What is a source of income from international companies?
Global transactions of money, such as buying products shipped from other countries.
How do governments influence trade?
By forming connections through trade deals and trade blocs.
