Explain the relationship between regionalism and globalisation

ktuffin_95
Mind Map by ktuffin_95, updated more than 1 year ago
ktuffin_95
Created by ktuffin_95 about 6 years ago
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A Levels Government and Politics (The EU and Regionalism) Mind Map on Explain the relationship between regionalism and globalisation, created by ktuffin_95 on 01/25/2014.

Resource summary

Explain the relationship between regionalism and globalisation
1 Regional economies

Annotations:

  • Regional economic blocs have tended to be formed in part because of the impact of globalisation on the economic independence of states. States have been inclined to work more closely with other states in the same region. e.g. The EU and the Euro (18 states) - stability of prices, price transparency, no transaction costs and no exchange rate fluctuations
2 Resisting competition

Annotations:

  • Economic blocs help states to resist pressure from intensified global competition. These blocs therefore function as customs unions against the pressures from the wider global economy (e.g. EU has the largest GDP in the world, only state to rival America (16.5 trillion v. 16 trillion)
3 Free Trade

Annotations:

  • states seek prosperity through the establishment of free trade areas that give them access to larger markets and facilitate economic specialisation.   E.G. EU has become integrated in global markets, whereby single countries could not and also allows free trade and movement of labour between states to promote maximum prosperity.
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