b) Factors contributing to globalisation

    Cards (8)

    • What have improvements in transport infrastructure allowed for production?
      Separation of production around the world
    • How have improvements in IT and communication affected companies?
      They allow companies to operate globally
    • Since when has trade liberalisation and reduced protectionism been occurring?
      Since 1945
    • What significant events have contributed to trade liberalisation?
      Breakdown of the Soviet bloc and opening of China
    • What role do international financial markets play in trade?
      They allow raising and moving money globally
    • What are TNCs?
      Large companies operating around the world
    • How do TNCs contribute to globalisation?
      By increasing their profits through low labor costs
    • What power do TNCs have in relation to governments?
      They have the power to lobby governments