Globalisation

• What is globalisation known as?

  Increasing interdependence between countries
• What are LEDCs becoming more involved in?

  Global markets and forums
• How is the rate of globalisation changing?

  It is increasing with more involvement
• What is a significant economic cause of globalisation?

  Increased volume and influence of TNCs
• What is an example of online purchasing becoming common?

  Buying goods from other countries
• What does Foreign Direct Investment involve?

  Countries investing in each other
• What do trade blocs like NAFTA and EU do?

  Reduce tariffs and protectionist measures
• What role do IGOs like IMF and WTO play?

  Harmonise economies and promote democracy
• What has international migration led to?

  Extensive family networks across the globe
• How has international tourism changed?

  More people can travel abroad for holidays
• What is Americanisation and Westernisation?

  Spread of American and Western culture
• How do goods flow between countries?

  They can be easily imported
• What has increased due to low-cost countries?

  Volume of manufactured goods
• What has the internet allowed in terms of information?

  Rapid spread of information and knowledge
• How many users did Facebook have in 2015?

  1. 5 billion users
• What do enormous server farms store?

  Substantial amounts of data
• What are the effects of globalisation?

  • Lengthening of connections
  • Deepening of connections
  • Faster speed of connections
• What innovation allowed Britain to move goods quickly in the 1800s?

  Steam power
• How did jet aircraft impact globalisation?

  Allowed quick transportation of goods
• What is containerisation?

  Transporting goods in large containers
• What did the telegraph revolutionise?

  Instantaneous communication for businesses
• What technology allows for better global communication today?

  Mobile phones and smartphones
• What has broadband and fibre optics improved?

  Speed of data transfer
• What does GPS allow people to do?

  Track goods across the world
• What percentage of the world’s population has internet access?

  Approximately 40%
• What are the different flows in globalisation?

  Capital, labour, products, services, information
• What are capital flows?

  Movement of money for investment
• What are labour flows?

  Movement of people to work in another country
• What are services described as in globalisation?

  Footloose industries that can locate anywhere
• What can information flow through?

  The internet, SMS, phone calls
• What are switched-off areas?

  Countries excluded from global flows
• What environmental factor can hinder globalisation?

  Being landlocked
• How can political agendas limit globalisation?

  By restricting flows of people or culture
• What economic factor can limit a country's ability to trade?

  Lack of finance for infrastructure
• How can climate change affect globalisation?

  By changing natural environments unfavorably
• What can terrorism or conflict do to global connectivity?

  Hinder global connectivity
• How does corruption affect globalisation?

  Leads to loss of investment and resources
• What is the role of the IMF?

  Loans money to poorer nations
• What is a key condition for IMF loans?

  Open up markets and industries
• What is a criticism of the IMF?

  It can lead to increased debt