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- 1What is globalisationProcess by which national economies, societies and cultures become increasingly integrated
- 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) - 3Dimensions of the globalisation process- Media
- Culture
- Politics
- Economy
- Environment
- Tech - 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 - 5Cultural and social globalisationCaused by:
- Migration - people spreading info and culture
- Global communications - Social media
- Impact of western culture through media, leisure etc - 6Political globalisationGrowth of western democracies and the decline in communist economies
Characterised by the development of market economies in former communist states - 7Factors of productionLand
Labour
Capital
Enterprise - 8FLOWS OF CAPITALMoney/man made resources
CAPITAL = ALL MONEY THAT MOVES BETWEEN COUNTRIES - 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 - 10What is deregulationThe removal of governmental laws
- 11Bilateral aidFrom one country to another
- 12Remittance paymentsTransfers of money made from foreign workers to their families in home countries
FACT: India receives more remittance payments than any other country - 13BRIC countriesEconomies have advanced rapidly since 1990's.
Brazil/Russia/India/China - 14MINT countriesRecently emerging countries
Mexico
Indonesia
Nigeria
Turkey - 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)
- 16Repatriation of profitsTNC's investing in overseas production will normally take any profit made from that investment back to their home country headquarters
- 17DiasporaA large group with a similar heritage who have moved and settled in places around the world
- 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 - 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
- 20Bilateral aidFrom one gov. to another
- 21Aid: NGO'smoney/food/technology
- 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
- 23FLOWS OF LABOURLabour markets are not as free flowing as financial markets in the process of globalisation
- 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 - 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
- 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
- - 27Where had the largest regional labour flowASIA
From South Asia to West Asia - 28How many peopple and between what years5 mil between 2005- 2010
- 29Why is economic migration larger in recent years ?Due to improved transport and easier to send money over to home countries
- 30What is the flow of productsTangible articles manufactured for sale
- 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
- 32Transaction costsHave been reduced by the improvements in flows of data and the ease with which capital can be transferred to pay for transactions
- 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 - 34TariffsIs the taxes on imported goods
With encouragement of WTO have been reduced in global trade - 35Flow of servicesServices refer to the economic activities that are traded without the production of material goods, e.g. financial or insurance services
- 36Services can subdivided into...High level and low level
- 37High levele.g. to businesses
finance, investment and advertising - 38Low levele.g. to consumers
Banking/travel/tourism/commuters - 39Flows of informationInvolves the transfer of cultural ideas, language, technology and design
- 40Information flows governed by...The movement of people through migration and by the speed of data and communication transfers
- 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 - 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 - 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 - 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!!!!!! - 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—
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- FlashCards sobre Sem título, criado por Sophie Freestone em 09-05-2018.
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