Global Systems And Governance Flashcards
(25 cards)
What is globalisation
A process by which national economies , societies and cultures have become increasingly interconnected and interdependent through the global network of trade, communication , transportation and immigration
What are flows of capital
All the money that moves between countries which is used for investment
Why was the deregulation of the financial markets in the late twentieth century significant
The activities of financial institutions were no longer confined within national boundaries
What are repatriation of profits
TNCs investing in overseas production will normally take any profit made from that investment back to their home region. This is known as economic leakage
Migration affect on capital flows
The majority of out migration of labour takes place from less developed regions to more developed. Contributes to brain drain effect
Remittance payments
Transfers of money made by migrant workers back to their home country.
Recorded remittances in 2018
$529 billion
What percent of Tonga’s economy is reliant on remittances
25
Benefits of remittances
-present a more stable and steadily rising source of income,e, unlike investment which fluctuates during recession
-alleviates poverty because it goes directly to families
Problems and solution to remittances
The global cost of sending 200 dollars in 2019 was around 7%. The UN recognises the importance of remittance payments and is aiming to reduce thus cost to £% by 2030 - an SDG
Flows of labour
The largest inter-regional flow of labour is in Asia. Between 2010 and 2015, 3 million workers moved from South Asia to west Asia.
Flows of products
Flows of manufactured goods have increased significantly in recent years. This has been stimulated by demand from affluent populations in developed countries, combined with low production costs because of mass production and low wages.
Containerisation
A system of standardised transport that uses large standard size steel containers to transport goods.
Tariffs
Tax on imports - strategies of protectionism
Call centres
The decentralisation of low level services from the developed to the developing world. Call centre options, for example, have moved from the Uk to India where labour costs are up to 20% lower than in the UK.
What is global marketing
The process of promoting, advertising and selling products or services. Views the world as one market, e.g coke their brand and glocalisation
2 main categories of labour
- the highly skilled, paid, decision making, research and managerial occupations which on a global scale, are largely concentrated in more developed countries
- the unskilled, poorly paid assembly occupations which are in poorer countries
What has happened to production
Manufacturing has become decentralised, moving away from the highly developed economies of Western Europe and north a
Deindustrialisation
One of the main consequences of this global shift has been deindustrialisation in richer HDEs and a subsequent decline and loss of jobs
Communication technologies
Information can now be shared easily and cheaply with a click of a button - mobile phone s
Global financial systems
-vital transmission systems allow lending and flows of money
Transport systems
- global transport network allows movement of people and goods
Security
As national boundaries have become less of a brier to more mobile and better informed popalations. Cybersecurity 11.5 million financial and legal records exposed
Trade agreements
WTO oversees 97% of trade
