global governance Flashcards
(29 cards)
definition of globalisation
process of countries becoming more interdependance on each other from knowledge,cultures and capital
flows of capital
Aid-the world bank give loans for development or relief
FDI-investemnt from a forign country-lasting
remittance-to your family -$148bn 2017
flows of labour
refugees-move form political instability
20 million people moved from Asia to Europe
highly skilled to HIC -more incentives
flows of products
better trabsportation-containeriation-shift of manufacturing from HIC to LIC
flows of services
scales of economies-indian call centres-bt-cheaper -takes away jobs from uk
flows of information
fibre optic communication-intenet
better global availability of phones -+gps-mix of cultures
global marketing
global awareness-comsumer more likely to buy-idea that its a better product-coca cola+nike
Glocalisation-Kitkat-japan multiple flavours-collectable market since 1973
patterns of production
OIL-opec(13 countries)-rival to eu have power over the oil industry can set prices
CLOTHING-exported from LICs -bangladesh-primark-1100 people died
financial technology
communication-stock market
able to operate even when relocating from HIC to LIC
easier flow of money
cryptocurrency-whole new capital flow
transport technologies
transport-faster +larger quantities
containerisation-bulk transport-cheaper less trips needed
flights-more affordable -faster and cheaper-more competitive
economies of scale
increasing profit by by buying raw material in bulk larger output higher profit
global supply chain
each part is part is made in a specialised country rather than one factory making every aspect of production-saves time and money
offshoring
hiring other companies to do tasks-1 billion into malaysia and 5 other counties in 2010 increase reach lower cost
outsourcing
hiring other companies to do your jobs- bt India
trade agreements -control and restriction examples
tarrifs
quotas-fixed number
bans on products
what organisation overlooks tareds
worl trade organisation to make sure they are fair
NAFT-lowers tarriffs betwen north ameriacin countires-
NAFTA
NAFTA-1994-lowers tarriffs betwen north ameriacin countires-
trade between countries since 1993 to 2015-297bn to 1.14T
largest trade area of 450 million people
less protectionism
stock market crash
2008-too many loans going out to people who couldn’t pay it back with subprime mortaggaes-low initial interest rates which get higher
10% unemployment in the us
less remittance backhome estonias economy shrank by 13%
unequal flows of people
44% of londons celaners are an ethnic minority -unwanted by uk population
brain drain-
poor working cinditions-qatar-1200 migrant workers died
unequal flows of ideas
privatisation of companies-TNC-profits kept into company not reinvestd into the economy
threat to a states sovereignty-too many culutrer
tehcnoloigalcflows of technology-pros+cons
pros-companies can maximise profits-better product for consumer -strenthens trade deals between LIC and HICS
cons-disparioty between cost of product and the pay people are getting-loss of jobs
trade unequal power relations
bannana wars-6 year disagreement -caribean famers goven special access to the EU markets-
tncs of latin americain crops filed a complaint-negatively affected banana trad EU then reduced the tarrifs on latin americain crops -more competition of the big TNCs
IMF+world bank issues
reinforce unequal power between countries -not level playing field-may cause more privatisation-more influential from countries who invest the most
role of the WTO
maintenance of high import duties and quotes in rich countires
protection of HIC agricultyre
developing countries arent aas repressented in the WTO
