Globalisation_Flashcards
(19 cards)
What is globalisation?
The increasing interdependence and interconnectedness of people and places through economic, political, social, and environmental processes.
Name three technological drivers of globalisation.
Internet, mobile communication, containerised shipping.
How has containerisation contributed to globalisation?
It made shipping goods faster and cheaper, boosting international trade.
What is the role of financial systems in globalisation?
They allow fast global movement of capital and investment.
Give two examples of communication technologies that support globalisation.
Fibre-optic cables, cloud computing.
How do trade agreements promote globalisation?
They reduce tariffs and encourage the free flow of goods, services, and investment.
What is a TNC (Transnational Corporation)?
A company that operates in more than one country, with HQs and production spread globally.
Name one TNC and describe its role in globalisation.
Apple – designs in the US, manufactures in China, sells globally; integrates economies.
What is the global shift?
The movement of economic activity (especially manufacturing) from HICs to LICs/NEEs.
What does the IMF do?
Offers financial aid and loans to countries in crisis, often with reform conditions.
What does the World Bank do?
Funds development projects to reduce poverty and improve infrastructure.
What is the WTO’s main role?
To promote free trade and resolve disputes between countries.
Criticism of the IMF or World Bank?
Accused of enforcing neoliberal policies that worsen inequality and social impacts.
What is the “global commons”?
Natural resources outside national borders — e.g., oceans, atmosphere, Antarctica, space.
What is the Antarctic Treaty System?
A 1959 agreement to preserve Antarctica for peaceful, scientific use and prevent exploitation.
Why is global governance important?
To manage shared resources, respond to global challenges, and regulate international relations.
How has globalisation increased inequality?
Benefits are often concentrated in HICs or among elites; many LICs remain marginalised.
Who are the ‘winners’ of globalisation?
TNCs, skilled workers in HICs/NEEs, and countries with strong infrastructure.
Who are the ‘losers’ of globalisation?
Low-skilled workers, small local businesses, and some LICs left behind in trade.
