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Flashcards in Diemensions If Globalisation Deck (8)
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1
Q

What is globalisation

A

Where the world is becoming more interconnected, economically, socially and politically.

2
Q

What has globalisation increased

A

It has increased interdependence, country’s rely on each other more

3
Q

What factors promote globalisation

A
  • Flow of Labour
  • Flow of technology/services
  • Flow of capital
  • Flow of Information
  • Flow of products
4
Q

What is the flow of services

A
  • Economic activity which isn’t production of goods
  • IT improvements have allowed banking to develop so industries can set up where ever they like
  • low level service=Customer service
  • High level=Financial/banking
5
Q

What is the flow of information

A
  • Internet allows for information to be spread quickly, social media etc.
  • Allows people to learn about other cultures (westernisation)
6
Q

What is the flow of labour

A
  • Movement of workforce
  • Skilled workers move to more developed countries for higher wages and better job opportunities
  • Allows cultural exchange+remittances
7
Q

What is the flow of capital

A
  • Money invested into a country

- FDI is more common due to improvements in IT and online banking allows money to be exchanged instantly

8
Q

What is the flow of products

A
  • More products produced in NEEs and LICs, due to cheap labour. An example would be Dyson in Malaysia
  • UK trade increased by £350 billion between 1990 and 2008