Globalisation Flashcards
(96 cards)
What is enquiry question 1?
what are the causes of globalisation and why has it accelerated in recent decades?
What does globalisation refer to?
refers to the increasing integration of economies around the world, particularly through the movement of goods, services, people, diffusion of technology and capital across borders. Also shown through culture, lifestyle and global processes such as climate change
How many people do there need to be for a mega city to be classed?
10 million
define interconnected
trade and migration flows have increased due to technology, market forces and political decisions
define interdependent
what happens in one place increasingly having an impact on other places e.g. russias war with ukraine
What are the UK’s main exports
vehicles, mineral fuels, precious metals, pharmaceuticals, machinery and services (e.g. financial, technical
What are the main flows in the global network
products( goods)
commodities (raw materials)
capital
information
tourism
migration (ex. refugees)
What are the UK’s main imports
mineral fuels, electronic equipment, knit wear, plastics and motor vehicles
What does the phrase “a shrinking world” refer to
developments in communication and transport have reduced the importance of distance (has aided globalisation)
What is space time compression?
the increasing sense of connectivity that seems to bring people closer together even though the distances are the same (takes a shorter time to get from London to France in 2024 than it did in 1914)
What is containerisation?
the development of bigger container ships that can hold more containers and therefore products
What is the IMF
international monetary fund
What is the WB
world bank
What is the WTO
world trade organisation
What are the motives of TNC’s in role of globalisation?
profit
achieving economies of scale
developing new market
horizontal integration
controlling and minimising costs
increasing their markets
vertical integration( expanding company through services)
What is glocalisation?
when company re-styles it’s products to suit local tastes (e.g. mcdonalds not selling beef burgers in India)
What is the belt and road initiative?
belt (land) road (sea)
creating trading routes with china funding projects around the world
What are advantages to china of the belt and road initiative?
increased influence
speeds up development around the world
trading partners + new places to sell to
migration of Chinese workers
What are the disadvantages to china of the belt and road initiative?
costs a lot of money which may never be able to pay get
What are the advantages to Sri Lanka of the belt and road initiative?
borrowed $15 billion to fund construction of infrastructure projects
projects include: powerplant, airport, deep water port and cricket stadium
some new employment opportunities
recognised globally
What are the disadvantages to Sri Lanka of the belt and road initiative?
Chinese government have full control
very little employment in construction to locals
environmental concerns
little connection between development and existing city of Colombo
lease to China for 99 years
What index is used to measure globalisation and what does it consist of?
KOF index
economic globalisation
political globalisation
social globalisation
What are switched on countries like?
flows of trade, people, FDI, etc
technologies
movement (air traffic, international trade)
media (global advertising, music, TV, news)