1. Processes of globalisation Flashcards

1
Q

What is the definition of globalisation?

A

The increasing interconnection and interdependence of the world’s economic, social, cultural and political systems (has different dimensions)

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2
Q

Describe economic globalisation.

A

interconnection of commercial and financial activities globally (primary, secondary, tertiary and Quaternary)

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3
Q

Describe cultural globalisation.

A

the sharing, transfer and hybridisation of cultures globally (e.g. Media, arts, literature, cuisine etc)

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4
Q

What are the economic factors responsible for globalisation? (there are 11 reasons)

A
  • Trade blocs/ trading (cheaper imports)
  • Rise of TNCs (exploitation of resources on a global scale) à FDI
  • Transport revolution (cheap sea and air travel, bulk carriers [containerisation])
  • Communications revolution – telephones, Internet, e-commerce
  • Financial market – deregulated and linked = easier to raise funds
  • Comparative cost advantage – areas specialise, NIDC
  • Economies of scale – larger markets, concentration is in the hands of large-scale producers (TNCs)
  • Ease of transferring capital – international currencies (US dollar)
  • Global marketing – international advertising, branding etc
  • Global shift (large scale filter-down of economic activity from MEDCS to NICs and LEDCs) – global economy
  • Opening of economies (China and India)
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5
Q

What are the social factors responsible for globalisation?

A
  • Education and culture – increased interest in other cultures (sinoisation)
  • Media and internet – satellites allow instant communication anywhere
  • Language – increased spread of certain languages (e.g. English via the internet) = easier communication
  • Migration – ease of migration, professional mobility etc
  • Spread of consumerism/ westernised culture – international brands
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6
Q

What are the politicial factors responsible for globalisation?

A
  • International bodies (WB, IMF, WTO)
  • Development of free market economies
  • Former communist states adopting forms of capitalism
  • Spread of democracy and capitalism – common links
  • Removal of barriers to free trade
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7
Q

Suggest some future trends of globalisation. (8 points)

A
  • Reduction in role/ influence of nation states – world state
  • Companies with no territorial identity
  • Reduced inequalities between countries
  • Mobile populations reacting to international demands
  • English as common language
  • Instant freedom of communication (Internet)
  • Rise o reactionary forces (nationalism and religious fundamentalism), isolationism (North Korea), protectionism against cheap imports (USA)
  • Reduction in the important of economic factors and the development of other aspects (e.g. democracy)
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8
Q
A
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