globalisation L1

Question 1

What is GLOBALISATION?

Answer 1

the increase in INTERDEPENDENCE ECONOMICALLY between countries worldwide, through increasing transfer of GOODS, FINANCE, INFORMATION, CULTURE, & PEOPLE.

this has accelerated due to developments in TRANSPORT & COMMUNICATIONS.

Question 2

What are CONNECTIONS doing with increased Globalisation?

Answer 2

• LENGTHENING — new links with places further away or more difficult to reach
• DEEPENING — more people lives are impacted through travel & goods with other countries
• FASTER — travel quickly and talk fast in real time

Question 3

The Start of Globalisation

1. EARLY CIVILISATION

Answer 3

— silk road (1st century) from China to the Roman Empire
— Civilisations exchanged goods & info through trade — also exchanged culture, religion, and slaves

Question 4

The Start of Globalisation

2. THE AGE OF DISCOVERY

Answer 4

— (15th-18th century)
— Portuguese Empire & the Spice Trade with western ideas, religion & culture spreading to the ‘New World’
— European countries started to practice Mercantilism (focus on making profit from others) & empire building
— Trans-Atlantic slave trade — sugar & cotton in West Indies - 1726, Earl Grey Tea, first TNC

Question 5

The Start of Globalisation

3. THE INDUSTRIAL REVOLUTION

Answer 5

— factories led to increased production of goods - FIRST FACTORY IN DERBY
— steam powered ships
— British Empire covered 25% of the world

Question 6

The Start of Globalisation

4. POST WWII TO PRESENT DAY

Answer 6

— Global Shift - TNCs seek lower labour costs — FORD the FIRST to set up a factory using slave labour
— Capitalism & increase in TNCs
— Tech boom - microchip, internet, mobile phones, computers
— Introduction of trading blocs like the EU

Question 7

What are the 5 STRANDS OF GLOBALISATION

Answer 7

• Economic
  (Trade) — online shopping, growth of TNCs, tariffs, quotas, and subsidies
• Social
  (People) — international migration, multicultural & multi-ethnic cities, tourism, quality of life, internet, phones
• Cultural
  (Ideas) — western fashion & food dominates, flims, TV, music, decrease in unique culture, religion, social media
• Political
  (Order) — growth of trading blocs, concerns about free trade, economic recessions & responses to natural disasters, World Bank, IMF, WTO
• Environmental
  (Sustainability) — waste recycling, consciousness, carbon footprint, technology, consumption habits, COP 29

Question 8

Global Flows & Global Networks

CAPITAL

Answer 8

At a global scale, major capital flows are routed daily through the world’s stock markets
— businesses buy & sell money in different currencies to make profits
- in 2015 these exchange transactions reached US $5 trillion a day

Question 9

Global Flows & Global Networks

COMMODITIES

Answer 9

— Valuable raw materials traded between nations
— flows of manufactured goods have multiplied in recent years due to production costs in China & low-waged economies

Question 10

Global Flows & Global Connections

INFORMATION

Answer 10

— Internet has brought real-time communication between distant places
— info stored in ‘server farms’

Question 11

Global Flows & Global Connections

TOURISTS

Answer 11

— cheap flights across the world
— China had 120mil outbound trips in 2014

Question 12

Global Flows & Global Connections

MIGRANTS

Answer 12

— faces the greatest number of obstacles due to border controls & immigration laws
— Gvt. Attempt to resist migrant flows — number increases yearly anyway
— send home remittances

Question 13

What did the combined effect of Global Flows & Global Connections cause?

Answer 13

Made them INTERCONNECTED however increased INTERDEPENDENCY