Globalisation Speed Run

• What is globalisation?

  Improved connectivity and integration globally
• How does the shrinking world concept relate to globalisation?

  It reflects increased connectivity between places
• What are special economic zones?

  Areas with tax incentives for foreign businesses
• What does TNC stand for?

  Transnational corporations
• What is glocalisation?

  Adapting products for local markets
• What is outsourcing?

  Delegating business processes to external providers
• What is offshoring?

  Running business operations in another country
• What does "switched on" refer to?

  Areas well-connected to globalisation
• What does "switched off" refer to?

  Areas isolated and lacking investments
• What is meant by global shift?

  Relocation of economic processes to Asia
• What is a transition town?

  Community focused on sustainability and local initiatives
• How did railways contribute to globalisation?

  Created transport links for migration and trade
• What significant railway connected Moscow, China, and Japan?

  Trans Siberian Railways
• How did the Boeing 747 impact globalisation?

  Made international travel and migration more common
• What effect did cheap flights have on migration?

  Increased the number of people travelling
• How did steam power contribute to Britain's rise?

  Facilitated quick movement of goods and armies
• What is containerisation?

  Efficient method of transporting goods globally
• How many containers are shipped annually?

  200 million containers
• What role do fibre optic cables play in globalisation?

  Transport large amounts of data internationally
• When was the first GPS launched?

  1970
• How do GPS systems aid globalisation?

  Track deliveries globally for better management
• How has the internet contributed to globalisation?

  Increased connectivity and cultural exposure
• What percentage of Korea's GDP did BTS account for in 2019?

  0.3%
• What are the 3 main organisations responsible for globalisation?

  1. World Trade Organisation (WTO)
  2. International Monetary Fund (IMF)
  3. World Bank
• What is the role of the WTO in globalisation?

  Supervises trade and promotes free trade
• What does the World Bank focus on?

  Economic growth and development financing
• What is the IMF's main focus?

  Stability of the economy through loans
• What are Structural Adjustment Programmes (SAPs)?

  Rules for countries to secure IMF funding
• What is a key difference between the IMF and World Bank?

  IMF focuses on stability, World Bank on growth
• What are trade blocs?

  Agreements to reduce trade barriers among states
• How does ASEAN contribute to globalisation?

  Eliminates tariffs for free trade among members
• What role does the EU play in globalisation?

  Provides structural funds and promotes migration
• What are three government policies that help economic globalisation?

  1. Free Market Liberalisation
  2. Privatisation
  3. Encouraging Business Start Ups
• What is the 1978 China Open Door Policy?

  Created special economic zones for foreign investment
• How many special economic zones were created in China?

  Four special economic zones
• What does the KOF Index measure?

  Economic, social, and political globalisation
• What does the AT Kearney Index assess?

  Political engagement and technological connectivity
• What is the main role of a TNC?

  Link countries through production of goods
• What is a Global Production Network (GPN)?

  Chain of suppliers contributing to manufactured goods
• How do TNCs use glocalisation?

  Adapting products for local consumer preferences