Human geography > Global Systems > Flashcards

Global Systems Flashcards

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1
Q

What are capital flows?

A

Capital flows are the movement of money for investment, trade or to produce goods and services.

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2
Q

What is globalisation?

A

Globalisation is a process by which national economies, societies, and cultures have become increasingly integrated through the global network of trade, communication, transportation and immigration.

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3
Q

What is the definition of international trade?

A

International trade is the exchange of capital goods and services across international borders.

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4
Q

What are some examples of globalisation?

A

-Containerisation
-Improved transport
-Trade between countries
-Sharing goods

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5
Q

What are the economic benefits of globalisation?

A

-Increase in free trade
-Growth of TNC’s
-Faster and cheaper transport
-Long distance flows of goods, capital, services and information

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6
Q

What are the benefits of globalisation?

A

-Ability of a HIC to help an LIC in crisis
-Gives a sense of unity
-Development of different cultures integrating

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7
Q

What are the disadvantages of globalisation?

A

-Increased risk for transmissions of disease
-Economies become too connected
-A change in a country’s economy can affect another
E.g. The financial crisis in 2008

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8
Q

What are the origins of globalisation?

A

-The silk roads where luxury products from china were appearing in Europe.
-The British industrial revolution led to new innovations in technology and an increase in global trade
-Neo liberalism (1980’s)-The establishment of free trade agreements and growth of the private sector led to growth of globalisation

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9
Q

What countries make up BRIC?

A

-Brazil
-Russia
-India
-China

-These countries have economies which have grown rapidly since the 1990’s

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10
Q

What does diaspora mean?

A

Diaspora is when a large group of people with a similar homeland have moved and settled in places all over the world

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11
Q

What are economic leakages?

A

Refers to a loss of income from an economic system. It usually refers to profits sent back to the base country of TNC’s (profit repartition)

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12
Q

What does MINT stand for?

A

-Mexico
-Indonesia
-Nigeria
-Turkey

-Refers to the more recently emerging economies

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13
Q

What is containerisation?

A

Containerisation is a system of standardised transport that uses standard steel containers to transport goods. Containers can be transferred between ships, trains and lorries.

-This is a cheaper and more efficient method

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14
Q

What are flows of labour?

A

Flows of labour means migration.

-It is most commonly seen from HIC’s to LIC’s
-Lots of movement in the middle east between oil rich countries
-Mainly happens due to better employment opportunities

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15
Q

How has flow of products bean facilitated?

A

-Reduction of cost in trade from:
-Containerisation
-Reduced tariffs
-Improvements in technology.

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16
Q

Why has flows of capital increased over the recent years?

A

Due to Deregulation of financial markets as money was no longer held within national boundaries

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17
Q

What are services?

A

Services are economic activities that are traded without the production of material goods.

-High level services:Services to businesses like finance, investment and advertising.
Usually found in HIC’s

-Low level services: Services to consumers like banking, customer call centers and communication services
Usually found in LIC’s

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18
Q

What has enabled flows of information to develop?

A

The developments of emails, the internet, live media coverage, mobile technology and improvements to global telephone networks.

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19
Q

What are remittances?

A

Remittances are payments sent by someone abroad to their family back home.
Usually from a HIC country to an LIC country

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20
Q

What is the definition of economies of scale

A

Economies of scale is the cost advantages that result from the larger size, output or scale of an operation as savings are made by spreading the costs or by rationalising operations.

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21
Q

What is global marketing?

A

When a company becomes a global marketer it views the whole world as one whole market and creates products that fit various regional market places.

-It will employ one marketing strategy to employ on a global scale

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22
Q

What are conglomerates?

A

Conglomerates are a collection of different companies or organisations which may be involved in different business activites but all report to one parent company

-Most TNC’s are conglomerates

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23
Q

What is the definition of maquiladora

A

A manufacturing operation located in free trade zones in Mexico where they import materials for assembly then export the final product without any trade boundaries.

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24
Q

What does the term ‘Global shift’ mean?

A

-An increase in proportion of global manufacturing carried out in NIC’s over the last 30 years, mainly in Asia.

-In 1995 95% of manufacturing was concentrated in western Europe, North America and Japan

-This has led to deindustrialisation in key industrial areas in the UK and has had profound effects on the culture and socio economic character of those areas.

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25
What factors affect the location choice of manufacturing companies?
-Availability of skilled workforce -Access to large markets without trade barriers -Government incentives -Availability of technology
26
What is south-south trade?
Trade between developing countries
27
How have new technologies driven globalisation?
-Information can now be shared more easily and cheaply and instantly with an audience of billions -Mobile phones in LDE's allow people to connect with markets and trading opportunities
28
How have transport systems driven globalisation?
-A global transport network allows flows of people and products across vast distances.
29
How have trade agreements driven globalisation?
-Gives equal access to trade and promotes trading with everyone and not favoring one country over another
30
What is global interdependence ?
Global interdependence means no country can be totally self sufficient therefore showing how countries rely heavily on the decisions of others
31
What does the world bank do?
The world bank is a financial institution that provides financial assistance to developing countries and their main goal is to reduce poverty and promote economic development.
32
How does the world bank promote globalisation?
They promote globalisation by aiding the flow of capital through providing interest free loans along with trying to increase flow of people by improving infrastructure in certain regions
33
What are the success' of the world bank?
-They have helped fight HIV/AIDS, malaria and other diseases which betters the health of the countries they effect -They have supported countries in a fragile state due to conflicts and violence which may be happening.
34
What are some criticisms of the world bank?
-Some of their projects are designed without sufficient input from local communities and governments which lead to unsustainable outcomes -Some of their lending practices can lead to unsustainable levels of debt for the borrowing country and they may become reliant on the loans. -Some question the transparency of the organisation and have concerns about the influence of major shareholders within the institution.
35
What is the international monetary fund (IMF)?
It is a financial institution established in 1944 with a primary goal of promoting global monetary co-operation, facilitating the balanced growth of international trade and helping countries in need of financial assistance. -Currently has 190 member countries
36
What good thing does the IMF do?
-Offers financial assistance to struggling countries facing balance of payments issues. -It monitors counties finance in order to identify and prevent potential financial crisis -Provides debt relief to heavily indebted poor countries
37
What are the criticisms of the IMF?
-One of the most significant criticisms is the implementation of economic policy conditions as a requirement for receiving financial assistance. -Their use of a 'One size fits all approach' which dosent consider specific national/regional circumstances
38
What is interdependence?
Interdependence is the status of being reliant on each other -Globalisation makes countries and people interdependent.
39
What are the issues with interdependence?
-Interdependence may be limiting a countries chance to grow -Inequalities as some countries may have more investment then others -May cause injustice
40
What are the positive impacts of unequal flows of people? Usually LIC-HIC
-Immigrants boost economic growth as they do jobs that a countries citizens cant or aren't willing to do -Provides stability due to fewer unemployed and more taxes
41
What are the negative impacts of unequal flows of people? Usually LIC to HIC
-A 'brain drain' of less developed countries as skilled workers leave and take their skills with them -Lower skilled migrants are happy to work for less which can cause wages to go down causing conflict between locals and migrants -Injustice as migrant workers maybe made to do dangerous jobs
42
What are the positive impacts of unequal flows of money?
-Provides growth as money often goes from developed to less developed which can provide jobs and allow investment. -Aid and investment can provide stability by creating jobs and improving living standards.
43
What are the negative impacts of unequal flows of money? HIC to LIC
-Foreign aid can create dependency which gives governments little incentives to improve their own countries. FDI can also force out local businesses. -Foreign aid may find itself to armed groups which may help fund conflict -Companies may pressure governments of LDC's to pass laws making it cheaper to invest there
44
What is neo liberalism?
Neo liberalism occurred in the 1980's when countries thought maximum economic growth would only occur if trade barriers were removed. Therefore state owned companies were privatized and government spending was cut.
45
What are the positive impacts of unequal flows of ideas? Neo liberalism
-In the 1980's many developed countries believed maximum economic growth would only occur if trade barriers were removed (Neo liberalism). -Neo liberal ideas have increased free trade and development which therefore improves stability
46
What are the negative impacts of unequal flows of ideas / neo lieralism
-Neo liberalism tends to concentrate wealth into the hand of a few, mainly already wealthy businesses. -Governments and TNC's may believe that development justifies poor working conditions and environmental degradation in a LDC
47
What are the positive effects of unequal flows of technology?
-Technology is mostly concentrated in developed countries which leads to rapid innovation and increasing growth.
48
What are the negative effects of unequal flows of technology?
LIC's cant afford as much Tech as HIC's which gives HIC's a big advantage -Advancement in technology may lead to conflict and wars
49
What is the Gini co-efficient?
The Gini co-efficient is a commonly used measure of income inequality that condenses the entire income distribution for a country into a single number between 0 and 1.
50
What is the 'Lorenz curve'?
The Lorenz curve is between perfect equality and inequality. -The more the Lorenz curve sags the worse inequality is within a country
51
What is vaccine equity?
This means all people wherever they are in the world should have equal access to a vaccine
52
How does the IMF and world bank reinforce unequal power relations?
Both the world bank and IMF are based in the USA and are led by the USA and other developed countries therefore less developed countries have less influence over the decisions of the organisation. -Loans are conditional meaning less developed countries have to make changes to get those loans
53
How does globalisation impact international trade?
-TNC's operate all across the world for a cheaper workforce -Containerisation occurred to allow for cheaper trade -More labour available across the world
54
Why do nations trade more then they did 30 years ago?
-It has become economically worthwhile due to the move to 'free trade' -Reduced transportation costs -'Comparative advantage' where someplace specializes in something so they can produce cost effectively -WTO removing barriers such as tariffs and protectionist policies
55
What are some example of 'Mega hubs'?
-London: a global financial center, worlds busiest international airports -New York -Tokyo
56
What are examples of 'Hubs'
-Dubai -Singapore -Shanghai
57
What are the 3 types of FDI?
1.Equity investment: e.g. the building and equipping of a factory in another country. It also includes the purchase of majority shareholding in a company based in another country 2.Intra-company loans: E.g. moving money from the country where the headquarters is located to the country where it operates 3.Reinvested earnings: E.g. using profits made in another country to expand operations there
58
How have the trend in FDI shifted over the last 20 years?
-Increase in FDI to developing economies -FDI is now focusing on services and technology instead of manufacturing and extraction -Recent shift in environmentally sustainable FDI projects -An increase in south-south FDI where developing countries invest in other developing countries
59
What are the current trading patterns/relationships?
-As of 2011 developing economies account for 47% of world exports (increase) -As of 2011 24% of world trade was south-south (Big increase) -As of 2011 38% of world trade is north-south (slight increase)
60
What are tariffs?
Tariffs are taxes imposed by governments on imported goods and services
61
What are Trade blocs?
A trade bloc is a type of intergovernmental agreement often part of an organisation where barriers to trade are reduced or eliminated between participating areas
62
What are the Main trade blocs?
-ASEAN -OPEC -NAFTA -MERCOSUR -EU
63
What are the aims of trade blocs?
-To create a special trade relationship that promotes trade within a group of countries in preference to trading with no member nations -Has the goal of removing trade barriers -
64
What is integration?
This is the process of countries and regions coming together to promote economic co-operation by reducing trade barriers and increasing the flows of goods services people and capital across borders
65
What are the advantages of trade blocs?
-It improves global peace and security -Helps members develop their economies an standard of living -Gives individual countries a larger voice on global affairs -Developing a common currency simplifies transactions -Can raise education and healthcare standards across the regions
66
What are some disadvantages of trade blocs?
Loss of sovereignty as decisions are centralised -Some loss of financial control -Pressure to adapt centralist legislation -Countries outside of trade blocs face further barriers to trade
67
What are some solutions to barriers to trade?
-Fair trade as it gives more direct trade from farmers to businesses and producers are given more power -Special differential treatment gives LDC's preferential access to markets in trade agreements
68
What is spatial organisation?
This refers to the arrangement of different elements within a given space, focusing on how these elements interact and relate to each other geographically, influencing patterns of resource use, transportation and trade
69
Why do TNC's operate in different countries?
-To escape trade tariffs -To find the lowest cost of production -To reach foreign markets -To exploit resources
70
What is vertical integration?
This is when the supply chain is owned entirely by one company from raw material to finished product. E.g BP in the oil and gas industry
71
What is Horizontal integration?
This is when a company diversifies its operations by expansion, merger or takeover and specializes in one stage of production
72
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