Globalisation

Question 1

What is globalization

Answer 1

The increasing interdependence and interconnectedness of a country through trade,capital,agreements/politics

Question 2

Negatives of globalization (environmental)

Answer 2

Landlocked countries cannot participate as they can’t be independent in trade and would have to travel through other countries in order to trade.

Some countries are vulnerable to climate change (lots of FDI -lots of factories-lots of carbon emissions)

Question 3

Negatives of globalization (political)

Answer 3

Political agenda and governance of a country may limit the flow of people /culture e.g.anti-migration,censorship

Corruption between the Gov means that money is lost rather than invested

Unstable governments, frequent policy changed discourages business seeking stable environments and long term investment

Question 4

Negatives of globalization (economic)

Answer 4

Countries with unstable markets/weak currencies will deter investment therefore no fdi

Question 5

Advantages of IMF -INTERNATIONAL MONETARY FUND

Answer 5

Loans money to developing nations to help open up their markets and industries from gov control (privatization )

Now TNCs can enter those markets more easily to generate financial activity mainly for their OWN country which is mainly more developed

Question 6

Disadvantage of IMF

Answer 6

Can be seen as a hindrance as those domestic businesses in developing countries fall in debt and workforce exploitation due to TNCs coming into the country

Promotes less economically developed countries (LEDCs) to increase in debt and limits the GOVs sovereignty/autonomy

Question 7

What is a free market

Answer 7

Unregulated system in which tax,quotas,tariffs impose by GOV don’t exist

Question 8

Negatives of having a free market

Answer 8

Poor working conditions

Environmental degradation

Economic disparities within a country - TNCs and small businesses

Question 9

Advantages of having a free market

Answer 9

Increase in productivity

More innovation as businesses compete with each other

Increase in competition-greater quantity of products produced,increase quality,decrease in price

Question 10

Why do countries interdepend on each other (Politically,economically ,socially)

Answer 10

Political- countries rely on each other to intervene if there’s political unrest

Economically-dependent on flows of labour,products,and services entering the country in order to grow as globalization provides a WORKFORCE.

Social -migration causes social interdependence as there are now diasporas (groups of migrants of the same origin living in another country ) = they are dependent n the place they live in

Question 11

How does technology accelerate globalization socially

Answer 11

Fuels faster spreading and dispersion of news/media
This rapid spread of information vacillated by the increasing dependence on technology could foster a sense of interconnected socially

Question 12

How does technology accelerate globalisation economically

Answer 12

Contributes to the idea of having a digital economy
It helps markets expand their reach past domestic realms as technology supersedes national barriers e.g.amazon is a global economic hub

Question 13

Topic sentence for how technology accelerates globalisation socially and economically

Answer 13

Technology plays a pivotal role in fuelling globalization by facilitating social connectivity and economic integration

Question 14

Thatchers view on trade blocs

Answer 14

Thatcher supported trade blocs insofar (to an extent) as it promoted free trade which was part of her plan to modernise and liberalise the British economy especially after the winter of discontent which contributed to to a significant amount of economic strain

Question 15

How ICT and tech fuel globalisation (12)

Answer 15

Improvements in ICT allow instant communication and faster global spread of news, trends, and culture through social media. For example, content posted on TikTok can be promoted by its algorithm to users worldwide, creating global communities where people interact through likes and comments. This increases connectivity and contributes to time–space compression, making the world feel smaller-shrinking world

However, some countries remain closed off from globalisation. In North Korea, government restrictions limit the flow of information, preventing citizens from accessing global perspectives.

Overall, this affects only a small minority of countries, as around 66% of people globally use social media, enabling widespread global interaction.

Question 16

How has containerisation (transport) accelerated globalisation(12)

Answer 16

Reduced transport costs for goods by dramatically lowering costs of ‘break bulk cargo’ (products that hv to be loaded individually)
This means that there is less time spent when products change transport time, therefore making consumers goods cheaper.
TIS as the drop in shipping costs allows for the expansion of global trade.
E.g. electronics, furniture, clothing from countries like china to markets in Europe and NA were a product of container shipping which enables China to be labeled as the ‘worlds factory’.

However, containerisation wouldn’t have limited impact without technolgical advancements like, GPS which allows for real time tracking.

Question 17

How has trade blocs accelerated globalisation

Answer 17

Trade blocs help foster faster trading opportunities-less gov controlled leg e.g.tariffs- helps TNCs open up their markets and industries from gov controlled e.g. due to the EU’s free movement of commerce, tesco has benefited from expanding into other EU countries

Vs pooled sovereignty