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Globalisation
What is Globalisation?
The International Monetary Funds (IMF) definition of globalisation is:
the growing economic interdependence of countries worldwide through increasing volume and variety of cross border transactions in goods and services, freer international capital flows, and more rapid and widespread diffusion of technology.
Africa or Egypt, and fish that had been caught and dried near Gibraltar. He
cooked with North African oil in pots and pans of copper mined in Spain, ate off dishes fired in French kilns, drank wine from Spain or France... The Roman
of wealth dressed in garments of wool from Miletus or linen from Egypt; his
wife wore silks from China, adorned herself with diamonds and pearls from India, and made up with cosmetics from South Arabia... He lived in a house whose walls were covered with coloured marble veneer quarried in Asia Minor; his furniture was of Indian ebony or teak inlaid with African ivory... Lionel Casson - Classicist
Globalisation is nothing new in the sense that countries and continents have always been connected in economic, cultural and political ways through trade, colonialism and cooperation.
Modern Globalisation
GLOBALISATION
Connections between places are lengthening (new links are growing between places that are great distances apart) Faster connections are now occurring. Technological advances have enabled the world to experience time space compression; air travel, telephones, internet access.
The world is becoming more deeply inter-connected. More and more peoples lives now connect with far-away places (e.g. Through purchasing imported commodities or cheaper personal travel). It is no longer just the richest people (the elites) who are living globally.
What has made this possible? The world is effectively shrinking! Information, goods and services can now be transferred much more quickly. The cost of communications has fallen
To what extent do the definitions appear similar even if they are differently worded?
International Organisations
Oil Money
TNCs
Communications Technology
International Organisations
Oil Money
High oil prices in the 1970s created wealth in OPEC countries. Money was loaned to developing nations and this kick started their industrialisation.
TNCs have shifted production to the developing world and created global connections and trade links Satellite and fibre optic comms have led to growth of mobile and internet comms, and falling consumer costs
TNCs
Communications Technology
Consumers
The media
The media
Types of Globalisation?
Types of Globalisation?
Economic Cultural Political Demographic Environmental
Discuss in pairs and come up with your own examples and definitions.
Types of Globalisation?
Economic TNCs, Branding, FDI, world trade Cultural westernisation, news channels Political G8 western democratic dominance Demographic migration and mixing pops Environmental realisation of global threats and solutions
Impacts of globalisation
On finance On politics
On people
On culture
Emerging global village where people share common interests. (film) Global trade barriers being removed. (tariffs, quotas etc.)
Companies (news international Sky, Sun, times owners) influence how people think on issues. Americanisation occurring with internet and media spreading western values and culture.
Uses cheaper labour in developing countries to An expansion of international political supply consumers in MEDCs. organisations. (EU) A loss of national identity. Companies gain power over national governments. Governments may loose control over their countries. Cheaper mobile and internet rates mean communication between people and information is free flowing. Trillions of $ are exchanged electronically every day in payments, loans, shares and debt.
Migrant labour is flowing to areas of high wages and better standards of work.
People with IT, management and finance skills are moving around world to where jobs exist.
Some Trans National Companies (shell oil) have A worldwide reduction in consumer prices higher turnover than some countries GDPs. race to the bottom price