Flashcards in Introduction to globalisation Deck (41)
What is globalisation?
The increasing interconnectedness of people around the world through the growth of the International flow of money, ideas and culture.
Who opened up globalisation?
Christopher Columbus in 1400 - and in 1450s boats got bigger, faster and able to travel further
What are the 4 dimensions of globalisation?
Information, technology and capital
Products and labour
Services and global marketing
Production, distribution and consumption
What are capital flows?
The movement of money for the purpose of investment, trade or to produce goods/provide services.
What are the three forms of globalisation?
Economic, cultural/social, political
What processes cause economic globalisation?
Increase in free trade - removal of trade barriers
Growth of TNCs (apple)
Faster, cheaper transport
What processes cause cultural/social globalisation?
Migration - spreading on info
Global communication networks - internet
Impact of western culture through media, sport, leisure and celebrity
What processes cause political globalisation?
Growth of western democracies (developed countries) and their influence on poorer countries
Decline of communist economies - Russia
What is economic globalisation characterised by?
Long distance flows of goods, capital and services
What is cultural/social globalisation characterised by?
Spread of ideas, information and images
What is political globalisation characterised by?
Decrease in government policy
Increase of market economies in former communist states
What would globalisation not work without?
New technologies, communications and information: internet makes it easier and cheaper to communicate with other places
What are the global financial systems?
Most high-state banks operate outside their countries
What things flow globally as a result of the 6 dimensions of globalisation?
Information (news on hazards, stocks and shares, intelligence)
Capital (money which flows from one place to another or invested)
Technology (Apple - large companies, process of trade allows technology to flow)
Products (Instant coffee - product produced somewhere else)
Labour (economic migrants)
Services (banking, accountancy)
How does flows of information, technology and capital enable globalisation?
Cheap, reliable and near instantaneous communication allows for information and capital to be shared
Money can flow electronically - HDEs invest into LDEs to take advantage of cheaper production costs
How does flows of products and labour enable globalisation?
Global transport costs are cheap and efficient for moving both products and people
High speed rail networks and airports have revolutionised travel
People can move round the world for employment
Tourists travel increasing distances encouraged by global marketing and low-cost flights
What is an example of a high speed travel network?
HS1 in the UK
What is the world's busiest airport?
Dubai - just overtaken Heathrow
How does flows of services and global marketing enable globalisation?
Services follow the flows of capital, information, people and products
Marketing is globalised -
What are the factors of globalisation?
New technologies, communications and information systems
Global financial systems
What is enabled through new technologies, communications and information systems?
Information and ideas are easily and cheaply shared
Mobile phones are important in LDEs for connecting different people
What is enabled through global financial systems?
Banks and financial services operate across the world - allow lending and flows of money
The 2007 collapse of US house prices led to a credit squeeze (when banks no longer wished to lend money) and then a global banking crisis in 2008
What is enabled through security?
Easier for dangerous people to move around leads to terrorism (Paris bombings)
Global crime - people trafficking, drug trafficking , fraud
Traditional security measures have reduced because of national boundaries becoming less of a barrier to more mobile and informed populations
Leaks of sensitive information - issue of cybersecurity.
What is enabled through trade agreements?
Without a system of global trading rules, countries would resist some foreign imports whilst possibly favouring others
The WTO oversees over 97% of world trade - it provides a forum for negotiations and ensures that trade agreements are followed. The WTO agreement is over 26000 pages, which hints at the complexity of world trade today
What is an example of the issue of cybersecurity?
In 2016, the leak of 11.5 million financial and legal records exposed wrongdoing on a global scale
What is Uganda?
A land locked country in East Africa that lies within the Nile Basin
Why shouldn't Uganda be a poor country?
It has a good supply of gold, silver and copper
Plentiful water supplies
Good growing climate
How many of Ugandas population live below the national poverty line?
What is Ugandas population?