Flashcards in ✅22.214.171.124 - Globalisation Deck (36)
What are the disadvantages of trade blocs?
Countries surrounded by trade blocs but not in them struggle to trade
Hinders development of countries outside the trade bloc
Creates problem sharing, if one country suffers, all do
Uneven reward for input
Migration issues, often uncontrolled
Lack of national control and identity
When did the volume of world trade first increase dramatically?
The late 19th century
What aided world trade to increase in the 19th century?
Multinational banks and global pricing systems, as well as the invention of the telegraph
By how much did global trade increase between 1870 and 1913?
How has internal migration affected China?
As it has opened to international trade, most factory employees are from China's rural interior, moving to the cities for low-grade service and construction jobs