Globalisation Flashcards
What is the Bretton Woods Agreement?
An agreement under which gold is the basis for the U.S Dollar and other currencies are pegged to the U.S dollar value.
Name the 2 measures of Globalisation:
1) KOF Index
2) AT Kearney Index
What is the KOF Index?
A measure of the globalisation of countries for political, economic and social indicators. It’s measured on a scale from 1 to 100, where 100 is the most globalised nation
What is the AT Kearney Index?
A measure of globalised cities. It considers economic, personal, technological and political factors
Name the factors for accelerating Globalisation:
Economy, Politics, Migration, Culture, Flow of Commodities and Technology
What are the Economic causes for accelerated Globalisation?
- Increase in number and influence of TNC’s
- Online Purchasing
- Countries investing into each other through FDI
- Trading stocks and exchange of currencies
How has Migration accelerated Globalisation?
- Spread of cultures due to families living all over the globe
- International tourism has increased due to lower transport costs
What are the Political Causes for accelerated Globalisation?
- Trade blocs have become more influential
- IGO’s work to harmonise economies
- Political views and ideologies are published on worldwide media outlets
What are the Cultural Causes for accelerated Globalisation?
Americanisation and Westernisation spreading to other parts of the world
What are the Technological Causes for accelerated Globalisation?
- The Internet has allowed for the rapid spread of information and knowledge
- Social media allows the spread of culture and ideology which also creates opportunities for migration and tourism
- Enormous server farms store substantial amounts of data
What is Offshoring?
The process of setting up Production Facilities within another country, usually in countries with cheap labour forces
