Globalisation

Question 1

What is globalisation

Answer 1

The increasing interconnection in the world’s economic, cultural and political systems

Question 2

What are two of the major players in the global economy

Answer 2

TNCs and nation-states

Question 3

How many TNCs

Answer 3

1975- 7,000

Now- over 60,000

Question 4

Three main forms of globalisation

Answer 4

Economic
Cultural
Political

Question 5

Economic form of globalisation

Answer 5

• under the GATT and WTO, world trade has expanded rapidly

- TNCs major force in increasing economic interdependence and several NICs have emerged

Question 6

Cultural form of globalisation

Answer 6

-western culture has diffused to all parts of the world through the media- been reflected in media, art, sport and leisure

Question 7

Political form of globalisation

Answer 7

Influence of nation states has diminished in many areas as more and more countries organise themselves into trade blocs

Question 8

Globalisation can be seen in terms of:

Answer 8

• urban (hierarchy of global cities act as centres for the global economy)
• demographic (growth of migration and multi cultural societies)
• linguistic (English as the working language)
• environmental (global warming)

Question 9

Some commentators believe that globalisation actually began in the late nineteenth century when:

Answer 9

• transport and communication expanded
• world trade began to grow
• capital flows began as European countries started operations in other parts of the world

Question 10

Events in the 20th century that has caused countries to fall back on their own resources

Answer 10

The Great Depression

Question 11

Since the 1950s, a new global division of labour has emerged, reflecting:

Answer 11

• fragmentation of production processes across national boundaries
• international trade
• emergence of NICs
• new generations of NICs
• integration of the Soviet Union into the capitalist system
• opening of large economies of China and India to the outside world

Question 12

In the late 20th century, what two major events shaped the processes of globalisation

Answer 12

• emergence of free market ideas

- deregulation of world financial markets