Globalisation Flashcards
5 types of flows
capital
commodities
migrants
information
tourists
How internet has aided globalisation
info can flow freely between countries
4 types of globalisation
social , economic , political, cultural
developments of transport in 1800s - steam power
Britain became leading power in steam power which moved goods quickly
developments of transport - jet aircrafts ( 1960s)
easy jets expansion enabled tourism to expand.
flights are cheaper and faster so culture spreaded
development of transport - container ships ( 1950s)
containers allowed a large amount of goods to be transported globally at a low price , resulting in a larger market and lower price for producers
developments in communication - telegraphs and telephones
cables installed beneath the ocean has sped up decision making and enabled companies to locate in other countries e.g. TNCs.
developments in technology - broadband and fibreoptic
information relayed by cables across the ocean allows transfer of information e.g. stock markets/email.
developments in technology - GIS and GPS
enables accurate location positioning and tracking of orders, vessels or lorries.
developments in technology - the internet and social media
increased connectivity between people so migrants can call home and families can connect
developments of transport in 1800s - railway
rail expanded globally
shrinking world effect
the world feeling like its closer due to globalisation and space - time compression
6 features of switched off regions
landlocked
harsh climate
no trade bloc
lack of energy resources
dictatorship
poor education
Sahel region - switched off region
very dry - poor crop yields
landlocked - no exports
TNCs won’t invest there
North Korea - switched off region
dictatorship - no internet access
no imported/exported goods
AT Kearney index 4 factors
political engagement
personal contact
technological connectivity
economic integration
KOF Index
calculated anually to find economic/social/political globalisation
Indicators of globalisation
flow of people/ flow of FDI
IGO’s - WTO
Reduces tariffs on manufactured goods for members
allow interaction of economies
IGO’s- IMF
encourages expansion of trade and growth
members work together
IGO’s- World Bank
provides grants and loans to LIC’s so they can develop
3 features of free trade blocs
removal of tarrifs - taxes
removal of quotas - limit
free movement ( EU)
Free trade blocs
increase interconnections between countries ( EU and NAFTA)
government policies - Free market liberalisation
removes state influence in economy