globalisation Flashcards
(84 cards)
key word
commodities
raw materials such as fossil fuels which have alays been traded betweenn nations
key word
tourests
budget airlines have made travel easier and more accessible
kay word
remittances
money that migrants send home to their source country which they earm working in their host country
how do migrants make 2 countries reliant on eachother
migrants in a higher income country- fill unskilled low wage jobs which people in this country dont want to fill
migrants host country- send money back home for families
key word
containerisation
what is the shrinking world effect
when time travel falls due to new interventions, such as budget airlines and technology
transport advances
railways expanding eg- trans siberian railway connect moscow and china
cheap and budget airlines make flight easier for business along with many airports such as new quay aerohub
container ships
arrival of the b747
FDI
forign direct investment and is when other counttries invest in lower or developing countries as something such as the skills i the workforce attracts a company to invest their
globalisation in small countries
have higher globalisation as they cant do everything themselves
1st case study
1 switched off place- North korea
physical/environment- countries weak infrastucter remains a key barrier
political- sanctions imposed as they continue to test nuclear weapons. They also have a corrupt gov
economic- people live in poverty and lack basic needs as money is only sent to strengthen the miliitary
access to media and content is heavily restricted and gov controls what you can and cants see
north korea recently attempted to join aiib but got rejected by china
2nd case study
1 switched off place- zambia
physical/environment- it is landlocked so it relies on good political relations with neighbours for imports and struggles with exports
political- since 2000 privatisation and debt cancelation has reduced zamibias debt however insecurity is still a risk for investors
economic- tanzam railway- a new raillink was invested in by china. however by 2000 this railink was in poor condition
3rd case study
1 switched off place- Tanzia
physical/environment- fertile volcanic soil making 80% of its population employed in agriculter
political- has growing investors with japan, usa and uae in order to export its farm products
economic-until 2001 tanzia had debt problems until hipc cancled all debts
just in time system
the time gap between production and delivery of a product. order when needed
new/knowlege economy
when gdp is earned throu8gh more highly skilled jobs like offices
offshoring
when a company does work overseas themselves or sends work to a country abroad to do for them
outsourcing
when work is contracted out to another conpany eg levis jeans has a different comapny for every part of their jeans
horizontal integration
a company expands in production process using other companies to help
vertical integration
a company owns every stage of the production process
disney case study jit and glocalisation
disney operated ina just in time system for merch and production allowing them to see the success of a venture before it creates more stock
disney is glocalised as it opererates worldwide so tailors its projects such as its movies, its gfood and its appearence of its parks
advantage and disad of fdi
ad- provide jobs
boost countries economically
disad- small businesses face problems and cultural erosion along with unsafe working conditions
1st organisation
world trade organisation
help to premote free trade between countries
successes- introduces restrictions such as bans and quotas to try protect locals
weakness- can destroy local businsses and communities such as pakistan fishing community- big tncs came in and ovefished and left local communities short of fish
2nd organisation
imf
rules which keep economy running smoothly
focusses on balancing exchange rates and can lend coutries money for development
success- member countries work together for financial stability
help countries havesolid plans in place
reduce poverty around the world
weakness- loans have conditions and are paid back with high interest
3rd organisation
world bank
financial help for countries after naturalo disasters
and finance economic developments
strenths- implements projects like school and education
- offer loans to lics at low interest rates for development
weakness-
power is with rich as rich countries have more power
-wb continue to invest in fossil fueld despite environmental challenges
trade liberisation
removal of trade barriers such as tarrifs and quotas