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Sophie Freestone Inglês 46 flashcards

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  1. 1What is globalisationProcess by which national economies, societies and cultures become increasingly integrated
  2. 2Dimensions of globalisation- Integration of economies
    - Information technology revolution
    - Economic relationships
    - The opening up of former communist bloc countries to the market economy (e.g. Russia didn't use to trade)
  3. 3Dimensions of the globalisation process- Media
    - Culture
    - Politics
    - Economy
    - Environment
    - Tech
  4. 4Dimension of globalisation: EconomicIt is caused by:
    - The removal of trade barriers
    - Growth of TNC's
    - Faster and cheaper transport
    It is characterised by the long distance flow of goods, capital and services and info exchanges
  5. 5Cultural and social globalisationCaused by:
    - Migration - people spreading info and culture
    - Global communications - Social media
    - Impact of western culture through media, leisure etc
  6. 6Political globalisationGrowth of western democracies and the decline in communist economies
    Characterised by the development of market economies in former communist states
  7. 7Factors of productionLand
    Labour
    Capital
    Enterprise
  8. 8FLOWS OF CAPITALMoney/man made resources
    CAPITAL = ALL MONEY THAT MOVES BETWEEN COUNTRIES
  9. 9Flows of capital:Capital flow around the world is increasing due to the deregulation of world financial markets
    Financial activities are no longer confined within national boundaries
  10. 10What is deregulationThe removal of governmental laws
  11. 11Bilateral aidFrom one country to another
  12. 12Remittance paymentsTransfers of money made from foreign workers to their families in home countries
    FACT: India receives more remittance payments than any other country
  13. 13BRIC countriesEconomies have advanced rapidly since 1990's.
    Brazil/Russia/India/China
  14. 14MINT countriesRecently emerging countries
    Mexico
    Indonesia
    Nigeria
    Turkey
  15. 15Economic leakagesLoss of income from an economic system, could be when profits are sent back to their base country by TNC's (also repatriation of profits)
  16. 16Repatriation of profitsTNC's investing in overseas production will normally take any profit made from that investment back to their home country headquarters
  17. 17DiasporaA large group with a similar heritage who have moved and settled in places around the world
  18. 18Foreign Direct InvestmentInvestments made by TNC's into physical capital or assets in foreign enterprises
    May make overseas investment by setting up company or acquiring shares
  19. 19AIDIMPORTANT source of financial support - can take many forms and can be provided through UN - this is multi-lateral aid - takes contributions from richer countries and spreads to poorer countries
  20. 20Bilateral aidFrom one gov. to another
  21. 21Aid: NGO'smoney/food/technology
  22. 22MIGRATIONOut-migration of labour usually takes place from poorer to richer countries. This will exacerbate disparities as the less developed nations lose their most skilled and talented labour
  23. 23FLOWS OF LABOURLabour markets are not as free flowing as financial markets in the process of globalisation
  24. 24Labour markets:- People can move less freely because of restrictions on immigration
    - There has been a rise in recent years in the number of migrants crossing international borders - perhaps seeking better employment opportunities
    - The flow of people is usually from developing to developed countries
  25. 25Where is a major destination for the influx of people and whyOil rich countries such as the United Arab Emirates - where there is a construction boom - thus lots of jobs
  26. 26Key facts about the movement of labour- most migrants move only over short distances - especially in Sub Saharan Africa
    - the bulk of economic migrants are those with the most skill - not the poorest
    -
  27. 27Where had the largest regional labour flowASIA
    From South Asia to West Asia
  28. 28How many peopple and between what years5 mil between 2005- 2010
  29. 29Why is economic migration larger in recent years ?Due to improved transport and easier to send money over to home countries
  30. 30What is the flow of productsTangible articles manufactured for sale
  31. 31Flow of products has been facilitated by...International movement of products is facilitated by the reduction in costs of trade including transaction, tariffs and time and transport costs
  32. 32Transaction costsHave been reduced by the improvements in flows of data and the ease with which capital can be transferred to pay for transactions
  33. 33Transport and timeReduced by the process of containerisation - system of standardised transport (containers) which makes it more efficient
    - Air transport speeds up delivery and reduces cost of more valuable cargo
  34. 34TariffsIs the taxes on imported goods
    With encouragement of WTO have been reduced in global trade
  35. 35Flow of servicesServices refer to the economic activities that are traded without the production of material goods, e.g. financial or insurance services
  36. 36Services can subdivided into...High level and low level
  37. 37High levele.g. to businesses
    finance, investment and advertising
  38. 38Low levele.g. to consumers
    Banking/travel/tourism/commuters
  39. 39Flows of informationInvolves the transfer of cultural ideas, language, technology and design
  40. 40Information flows governed by...The movement of people through migration and by the speed of data and communication transfers
  41. 41Digitalisation and satellite technology have transformed the flows of info, which are now supported by:Improvements to global telephone networks - now cheaper and easier
    Email and the internet - faster info
    Mobile telecom tech - info on the go
    Live meida coverage available on global scale ! - TV
  42. 42Information flows have contributed to the expansion of: Knowledge intensive goods and services, such goods and services include those which have...- Research and development
    - Use highly skilled and educated labour
    - High tech products
    - business services
  43. 43GLOBAL MARKETINGThe process of promotion, advertising and selling products or services
    TNC's look at the world as a single market - they wish to create products that fit various regional market places
  44. 44Global marketing will usually...Develop a recognisable brand and employ one marketing strategy to advertise the product to customers all over the world
    ULTIMATE GOAL IS TO SELL THE SAME PRODUCT, IN THE SAME WAY - EVERYWHEREEEE!!!!!!
  45. 45Example of global marketing is...Coca-cola - only minor elements will be tweaked for different markets - the company uses the same formula, the bottle design is recognisable in every country
    (size may vary)
  46. 46—

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FlashCards sobre Sem título, criado por Sophie Freestone em 09-05-2018.
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