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Flashcards in Globalisation Deck (6)
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1

Economic consequences of globalisation

- Growth of MNCS accelerates cross border trades
- ICT supports growth of complex spatial divisions of labour for firms and a more international economy

2

Social consequences of globalisation

- International immigration created extensive family networks across borders, creating multi ethnic societies

3

Political consequences of globalisation

- growth of trading blocs (e.g. EU) allow MNCs to merge, while reduced trade restrictions help markets to grow
- global governance concerns over free trade, credit crunch and response to natural disaster
- world bank , IMF, and WTO work internationally to harmonise national economies

4

Cultural consequences of globalisation

- successful western cultural traits come to dominate in some territories e.g. the 'McDonaldisation' of tastes and fashion
- Globalisation are more complex outcomes, as old local cultures meld with globalising influences

5

Modern Globalisation

differs from global economy that preceded, over time connections between people and places have:
- lengthened = products shipped over greater distances, migrants and tourists travel longer distanced from home
- deepened = more aspects pf life become globally connected, i.e. food we eat
- speeded up = quicker travel speeds and communications across long distances

6

Acceleration or retreat of globalisation

US presidential election and UK Brexit, migration and free trade agreements were key issues affecting how people voted, migration and trade barriers re-introduced