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Flashcards in Globalisation Deck (6)
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Economic consequences of globalisation

- Growth of MNCS accelerates cross border trades
- ICT supports growth of complex spatial divisions of labour for firms and a more international economy


Social consequences of globalisation

- International immigration created extensive family networks across borders, creating multi ethnic societies


Political consequences of globalisation

- growth of trading blocs (e.g. EU) allow MNCs to merge, while reduced trade restrictions help markets to grow
- global governance concerns over free trade, credit crunch and response to natural disaster
- world bank , IMF, and WTO work internationally to harmonise national economies


Cultural consequences of globalisation

- successful western cultural traits come to dominate in some territories e.g. the 'McDonaldisation' of tastes and fashion
- Globalisation are more complex outcomes, as old local cultures meld with globalising influences


Modern Globalisation

differs from global economy that preceded, over time connections between people and places have:
- lengthened = products shipped over greater distances, migrants and tourists travel longer distanced from home
- deepened = more aspects pf life become globally connected, i.e. food we eat
- speeded up = quicker travel speeds and communications across long distances


Acceleration or retreat of globalisation

US presidential election and UK Brexit, migration and free trade agreements were key issues affecting how people voted, migration and trade barriers re-introduced