Globalisation

Question 1

What is neo-liberalism?

Answer 1

The movement of goods openly

Question 2

What are the factors that cause globalisation?

Answer 2

Political ,Economic , Cultural/social

Question 3

What is the positives of globalisation?

Answer 3

Jobs , new markets , income , increasing environmental collaboration (Antartic problem)

Question 4

What is the negatives of globalisation?

Answer 4

Larger countries /TNCs have more influence

Question 5

Distance decay?

Answer 5

Distance getting smaller because transport

Question 6

Time space convergence?

Answer 6

Times getting smaller between countries

Question 7

What are the different types of securities for globalisation?

Answer 7

Political, economic trade, transport protection, terrorism, national security,food

Question 8

What are the socio-economic global players

Answer 8

TNCs , Governors (UN/World Bank/IMF/WTO), trade blocs (EU/NAFTA), BRICS

Question 9

What are FTAs?

Answer 9

Free-trade-agreements

Question 10

What the types of FTAs?

Answer 10

Bilateral, Multilateral

Question 11

What is the Wallerstein theory?

Answer 11

Peripheral countries, semi-peripheral and CORE

Question 12

What is the speciality of CORE countries?

Answer 12

Production processing , HIC

Question 13

Speciality of peripheral countries?

Answer 13

Raw materials , climate

Question 14

What are the advantages of TNCs on economies?

Answer 14

Job opportunities, investment , energy resources, technology resources, infostructure, FDI, Multiplier effect, Social improvements, economies of scale, comparative advantage

Question 15

What are the divisions within the UN?

Answer 15

Security council, WHO, ILO,UNOP

Question 16

What are the main forms of globalisation?

Answer 16

Political, economic , social

Question 17

What is the global village?

Answer 17

The breakdown of spatial barriers of countries

Question 18

What is glocalocalisation?

Answer 18

Adaptation of products to the local market

Question 19

What is a trade bloc?

Answer 19

An arrangement among groups of nations to allow free trade

Question 20

What are the disadvantages of TNCs?

Answer 20

Exploitation of workers, local resources exploited ( Coca-cola India 1978), profits go overseas, high prices for locals, increased national debt due to increased exports

Question 21

What does NAFTA stand for?

Answer 21

North American Free Trade Agreement

Question 22

How do trade agreements encourage globalisation?

Answer 22

Encouraging trade agreements by access to number of countries=> Increase investment and spending for goods. Movement of people freely=> Job opportunities

Question 23

What is a bilateral agreement?

Answer 23

Bilateral trade is the exchange of goods between two nations promoting trade and investment.

Question 24

What are the benefits of bilateral agreements?

Answer 24

Economic growth expansion, stronger trade relations , stable business environment , job opportunities

Question 25

What are the negatives of bilateral agreements?

Answer 25

Higher costs , less influence for country's , lack of market size as involves two markets

Question 26

What is a multilateral agreement?

Answer 26

agreements, treaties, or actions that involve or include multiple parties or nations.

Question 27

What are the positives of multilateral agreements?

Answer 27

fosters economic growth, healthy competition, and global cooperation.

Question 28

What are the negatives of multilateral agreements?

Answer 28

Difficult to negotiate , and time consuming , hard to negotiate may impact business in the long-run

Question 29

What is profit-offshoring?

Answer 29

This is often done to take advantage of more favourable conditions in a foreign country, such as lower wage requirements or looser regulations, and can result in significant cost savings for the business.

Question 30

How do trade agreements impact economic well-being?

Answer 30

increased job opportunities, increased income for countries (multilateral agreements) (FDI), Trade bloc=> potential trade Negative impacts=> Dependency on markets/ cheap imports, negative influence on economy

Question 31

What is a global shift?

Answer 31

A change in manufacturing from East to West

Question 32

How many people have come out of poverty since 1990?

Answer 32

1 billion

Question 33

What did the Antarctic Treaty do in 1959?

Answer 33

Bann forms of military presence and it made it zone free and disposable of radioactive waste

Question 34

What is a trade agreement?

Answer 34

A treaty between multiple countries to allow the movement of goods , services or people. Removes barriers such as tariffs and quotas

Question 35

What are example of trade agreements?

Answer 35

UMSCA, Arab league, African union

Question 36

What is Globalisation 4.0?

Answer 36

Globalisation 4.0 refers to the new phase of globalisation driven by digital technologies, artificial intelligence, automation Also fragmentation (nationalisim)