4.1.3 : Increased Globalisation

Question 1

What are the factors that have increased globalisation ?

Answer 1

Reduction of international trade barriers/trade liberalisation
Political change
Reduced costs of transport + communication
Increased significance off global companies
Migration
Growth of the global labour force
Structural changes

Question 2

How has a reduction of international trade barriers/trade liberalisation ?

Answer 2

Trade liberalisation means lowering tariffs, quotas and other protectionist policies. By reducing barriers, goods+ services flow freely across borders, encouraging businesses 2 operate internationally

Question 3

How has political change increased globalisation ?

Answer 3

These shifts open or close markets international trade and investment. Move towards democracy, market liberalisation, or trade agreements encourage globalisation

Question 4

How has reduced costs of transport + communication ?

Answer 4

Advances in tech + infrastructure make it cheaper + faster to more things. This reduces distance between countries, facilitation global trade barriers + investment

Question 5

How has increased significance of global companies increased globalisation ?

Answer 5

TNCs drive globalisation by setting operations, transferring tech + creating global supply chain. Marketing power spreads consumer culture globally

Question 6

How has increased investment flows increased globalisation ?

Answer 6

Occurs when firms invest overseas assets/establish operations abroad. FDI spread capital, jobs, + tech internationally, integrating economies

Question 7

How has migration increased globalisation ?

Answer 7

Movement of ppl spread skills, ideas ad culture across borders. It helps businesses access labour where needed + increase demand for goods and services internationally

Question 8

How has a growth of the global labour force increased globalisation ?

Answer 8

More countries develop, more ppl enter global workforce. Provides businesses with larger pool of workers at lower wages

Question 9

How has structural changes increased globalisation ?

Answer 9

Economies evolve industries evolve. Developed economies move from manufacturing to services developing economies industrialise. Shift creates opportunities for specialisation/global trade