Globalisation

Question 1

Globalisation

Answer 1

The spread of goods, products, ideas, news, people and information
* It’s the increase in interdependence and interconnectivity of countries through trade, people, money, culture and information
* The world is beng unified into a single socitey and functioning together

Question 2

How has globalisation changed overtime?

Question 3

World Bank, July 1944

Answer 3

• First in timeline
• Helped **shaped the global economy by establishing economic rules that countries are expected to follow if they want to borrow money **
• Based in Washington, USA

Question 4

2nd

EU, 1973

Answer 4

• Britain joins Europe
• EU was known as EEC when the UK joined
• A multinational groups that countries all around the world have chosen to join
• Growth= political globalisation

Question 5

3rd

First Mobile Phone Call, 1973

Answer 5

• Motorola researcher and executive, Martin Cooper made the first mobile phone call from handheld subscriber equipment
• Weighed 1.1kg, measured 23cm long, 13cm deep and 4.45cm wide

Question 6

4th

First smart phone, 1992

Answer 6

• IBM Simon was the first ever monile phone to feature software apps, using a stylus and touch screen
• Cost $899
• Only worked in USA

Question 7

5th

Broadband, 1996

Answer 7

• Broadband internet available for US and Europe
• Developments allowed large amounts of text documents as well as photographs, videos and music to be easily shared

Question 8

6th

Millennium Development Goals launched, 2000

Answer 8

• Global initiative launched by the United Nations
• Aimed to raise living standards in the word’s poorest countries, where people haven’t benefited from globalsation

Question 9

7th

World Trade Centre attack, 2001

Answer 9

• A terrorist attack on the World Trade Centre in New York
• World was more connected than it used to be
• Age of globalisation is also afflicted by conflict and disagreement between different groups of people and nations

Question 10

8th

Facebook, 2004

Answer 10

• Growth of Facebook is associated strongly with the growth of of globalisation and the ‘shrinking world’ effect

Question 11

Flows of globalisation

Answer 11

1. Capital (FDI)
2. Labour
3. Products
4. Information
5. Services

Question 12

Flows of Capital

Answer 12

Money that is invested. Spent on something to produce and income or increased profit from it
* It’s the movement of money for the purpose of investment, trade to produce goods/provide services
* E.g FDI

Question 13

FDI

Answer 13

• Foreign direct investment = amount of capital in foreign countries (increased from $400 bil in 1996 - $1500 bill in 2016)
• Inward FDI- measures investments made in a country from another country
• Outward FDI- measures investments made by domestic companies in a foreign economy
• E.g **FDI in London **- No.1 spot for FDI globally
  **Regeneration of Battersea power station **- into shopping centres, flats and houses

Question 14

Flows of labour

Answer 14

The movement of people who work in another country
* Remittances- transfer of money back home from a persons host/work country, across national boundaries
* 40% of Somalians rely on remittiances to supply basic needs
* Workers are now globalised e.g. Mexico to USA, Poland to UK and India to Europe
* International migration increased by over 40% between
* Skilled workers move to HICs for higher wages and better working conditions
* Unskilled workers may move to HICs to escape low wages

Question 15

Flows of products

Answer 15

**Physical goods moving from one country to another **
* Manufacturing has decreased in HICs (5 mill in 1985 - 2.6 mill in 2014)
* Low labour costs overseas so companies have moved their products overseas e.g Dyson moved their products to Malaysia to produce hoovers
* USA, Germany and Netherlands imported the most UK supplements in 2018
* Container ships helped to speed up the process of unloading cargo ships

Question 16

Flows of information

Answer 16

Any type of ** information can flow from place to another via the internet, SMS and phone calls** e.g. international news
* Financial data + news of current events can be transferred across the world quickly + easily
* Development and spread of email, social media + internet = large amounts of info can be exchanged instantly across the globe
* People in different countries can work + communicate
* Making the world more interconnected
* Celebrities have turned to the amplifying power of social media

Question 17

Flows of services

Answer 17

‘Footloose’ industries- locate anywhere without constraints from resources or other obstacles, can be produced in a different country to where they are received
* Services are economic activities that arent based aroud producing material goods e.g banking
Low level services- (customer srevices) companies are increasingly relocating low level services to LIC’s where labour is cheaper
High level services- (financial services) tend to be located in HIC’s such as London and New York
* Improvements to ICT mean that services can locate anywhere + still serve the needs of custoners elsewhere