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What term describes the increasing interconnectedness of countries and people worldwide?
What term describes the increasing interconnectedness of countries and people worldwide?
Globalization
What are transnational corporations (TNCs) role in economic globalization?
What are transnational corporations (TNCs) role in economic globalization?
They facilitate the movement of goods and services across the world.
Give an example of how social globalization manifests itself.
Give an example of how social globalization manifests itself.
Instant connections with people across the world.
What is 'time-space compression'?
What is 'time-space compression'?
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What are remittances and how do they relate to labor flows?
What are remittances and how do they relate to labor flows?
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What is the difference between repatriation of profits and foreign direct investment (FDI)?
What is the difference between repatriation of profits and foreign direct investment (FDI)?
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What is one type of capital flow, besides FDI, and what is a defining characteristic?
What is one type of capital flow, besides FDI, and what is a defining characteristic?
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Why has trade shifted from HICs to LICs and NEEs, related to the flows of products and services?
Why has trade shifted from HICs to LICs and NEEs, related to the flows of products and services?
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Name two ways that flows of information have increased globally.
Name two ways that flows of information have increased globally.
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What is the difference between a global brand and glocalization?
What is the difference between a global brand and glocalization?
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What is the term for the movement of manufacturing from HICs to LICs and NEEs?
What is the term for the movement of manufacturing from HICs to LICs and NEEs?
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How has containerization impacted the distribution of goods?
How has containerization impacted the distribution of goods?
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Besides global warming, what is another major environmental threat that could become more concerning for Antarctica by 2048?
Besides global warming, what is another major environmental threat that could become more concerning for Antarctica by 2048?
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What is the 'shrinking world effect'?
What is the 'shrinking world effect'?
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What is a key challenge faced by international whaling regulations?
What is a key challenge faced by international whaling regulations?
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How does just-in-time production rely on ICT?
How does just-in-time production rely on ICT?
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Name one way non-governmental organizations (NGOs) help protect Antarctica.
Name one way non-governmental organizations (NGOs) help protect Antarctica.
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What policy encourages free trade and investment?
What policy encourages free trade and investment?
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How do security measures both enable and limit globalization?
How do security measures both enable and limit globalization?
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What single factor would contribute to increased tourism in Antarctica leading to sustainability concerns?
What single factor would contribute to increased tourism in Antarctica leading to sustainability concerns?
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What is the function of submarine communication cables?
What is the function of submarine communication cables?
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What is one way decision-making might be affected related to international governance of Antarctica?
What is one way decision-making might be affected related to international governance of Antarctica?
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What is the difference between offshoring and outsourcing?
What is the difference between offshoring and outsourcing?
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What is the difference between a free trade area and a customs union?
What is the difference between a free trade area and a customs union?
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What additional freedom do common markets include, compared to customs unions?
What additional freedom do common markets include, compared to customs unions?
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What was the name of the trade agreement that was proposed between the EU and the United States?
What was the name of the trade agreement that was proposed between the EU and the United States?
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How can trade agreements lead to exploitation?
How can trade agreements lead to exploitation?
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What is one argument that Brexit is an example of deglobalization?
What is one argument that Brexit is an example of deglobalization?
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What is the term used to describe the reliance countries have on each other for various reasons?
What is the term used to describe the reliance countries have on each other for various reasons?
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According to the dependency theory, what type of countries are considered to be at the center of economic activity?
According to the dependency theory, what type of countries are considered to be at the center of economic activity?
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What international organization was founded after World War II to promote global growth, stability, and peace?
What international organization was founded after World War II to promote global growth, stability, and peace?
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Which body within the UN has five permanent members with the power of veto?
Which body within the UN has five permanent members with the power of veto?
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What does the Gini index measure?
What does the Gini index measure?
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What is a potential negative effect of labor flows, where skilled workers leave their country?
What is a potential negative effect of labor flows, where skilled workers leave their country?
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What is a major negative effect of technology flows, where some countries do not have adequate access to technology?
What is a major negative effect of technology flows, where some countries do not have adequate access to technology?
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What is a potential negative effect of aid that can lead to conflict?
What is a potential negative effect of aid that can lead to conflict?
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What is a major environmental challenge caused by interdependence, to which HICs have contributed most?
What is a major environmental challenge caused by interdependence, to which HICs have contributed most?
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What agreement, signed in 2016, aims to reduce global emissions?
What agreement, signed in 2016, aims to reduce global emissions?
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What type of waste is generated by the rapid consumption of electronics and often disposed of illegally in LICs?
What type of waste is generated by the rapid consumption of electronics and often disposed of illegally in LICs?
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What are two social or health issues caused by e-waste?
What are two social or health issues caused by e-waste?
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In what nations does most ship-breaking occur?
In what nations does most ship-breaking occur?
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Besides human safety, name one negative effect that ship-breaking activity causes?
Besides human safety, name one negative effect that ship-breaking activity causes?
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The TPP was signed but was it ratified?
The TPP was signed but was it ratified?
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What type of pollution was evident in the Rana Plaza garment factory collapse?
What type of pollution was evident in the Rana Plaza garment factory collapse?
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Identify one benefit and one cost of globalization.
Identify one benefit and one cost of globalization.
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What is a global common, and name two examples?
What is a global common, and name two examples?
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What are two defining geographical characteristics of Antarctica?
What are two defining geographical characteristics of Antarctica?
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What is the main purpose of The Antarctic Treaty System?
What is the main purpose of The Antarctic Treaty System?
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What is the Antarctic Convergence Zone, and why is it important?
What is the Antarctic Convergence Zone, and why is it important?
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What main human-caused threat is causing warming temperatures in Antarctica at five times the global average?
What main human-caused threat is causing warming temperatures in Antarctica at five times the global average?
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What is one consequence of melting ice in Antarctica?
What is one consequence of melting ice in Antarctica?
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How has fishing and whaling impacted Antarctic wildlife?
How has fishing and whaling impacted Antarctic wildlife?
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In what ways does tourism pose threats to Antarctica?
In what ways does tourism pose threats to Antarctica?
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What potential mineral resources are present in Antarctica, and what agreement currently restricts their exploitation?
What potential mineral resources are present in Antarctica, and what agreement currently restricts their exploitation?
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What is the role of UNEP in managing threats to Antarctica?
What is the role of UNEP in managing threats to Antarctica?
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What is the main purpose of the IWC and when was the commercial whaling moratorium started?
What is the main purpose of the IWC and when was the commercial whaling moratorium started?
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What is the purpose of The Protocol on Environmental Protection to the Antarctic Treaty, also known as the Madrid Protocol?
What is the purpose of The Protocol on Environmental Protection to the Antarctic Treaty, also known as the Madrid Protocol?
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Describe ASOC and its role in managing threats to Antarctica?
Describe ASOC and its role in managing threats to Antarctica?
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Study Notes
Globalization
- Globalization is the increasing interdependence of countries worldwide or the increasing connectivity of people and places.
- Globalization can be social, economic, cultural, or political.
- Social globalization is the ability to connect with people instantly across the world.
- Economic globalization is the movement of goods and services across the world supported by transnational corporations (TNCs).
- Cultural globalization is the sharing of foods and cultural practices across the globe.
- Political globalization is the collaboration of countries through international agreements.
- Globalization is not a new process but the speed at which it is occurring has dramatically increased.
- The increased speed of globalization is called time-space compression.
Dimensions of Globalization
- Flows of globalization are things that move around the world and connect people and places.
- Flows of globalization include capital, labor, products, services, and information.
- Flows of capital refer to money moving around the world through investment, trade, and production.
- Flows of capital through foreign direct investment (FDI) increased from $400 billion in 1996 to $1,500 billion in 2016.
- Repatriation of profits occur when TNCs invest in a country but then the profits are returned to the TNC's origin country.
- Aid is money transferred from one country to another to help with development, an example is the World Bank which gives out loans to countries.
- Remittances are money that migrants send back to their families in their origin country.
- Flows of labor are people moving around the world as migrants.
- Flows of labor have increased significantly with globalization.
- An increase in the flow of labor can be seen on flow diagrams and maps.
- Many young men move from Nepal to countries in the Middle East for work and send remittances back to Nepal.
- In 2014, 25% of Nepal's Gross Domestic Product (GDP) was from remittances sent back home.
- Economic migrants leave their origin countries to make money and send remittances back with the goal of supporting their families.
- Flows of products and services refer to goods and services being traded across national borders.
- Trade is often between “High-Income Countries” (HICs) as a result of the Industrial Revolution, but shifted to “Low-Income Countries" (LICs) and "Newly Emerging Economies" (NEEs) as a result of de-industrialization and the global shift.
- In the 1970s, the deregulation of financial markets opened up markets for investment globally – creating a greater flow of services.
- Flows of information refer to data being shared electronically through emails, the internet, and social media.
Global Marketing
- Global marketing promotes and sells goods and services to one global market.
- TNCs often develop a global brand for a given good, meaning the good remains the same but it is sold globally.
- Global brands allow for economies of scale, with the ability to increase production and make more profit.
- TNCs also use glocalization, where a good is adapted to suit a particular location or population in order to increase sales.
Patterns of Production, Distribution, and Consumption
- Production is where something is made.
- Distribution is how a good is moved across the world.
- Consumption is where a product is used.
- Previously, production and consumption were often in the same location.
- De-industrialization and the global shift led to a movement of the production of goods from “High-Income Countries” (HICs) to “Low-Income Countries” (LICs) and “Newly Emerging Economies” (NEEs).
- The Chinese "open door policy" encouraged investment in China and manufacturing moved to China.
- Consumption is still predominantly in HICs, but it is also increasing in NEEs., particularly in China, due to an increase in the middle class.
- Containerization has dramatically impacted the distribution of goods, as standardized containers can be moved quickly and efficiently across the world.
Factors of Globalization
- Globalization is influenced by:
- Development of technology (communications, transportation, and information systems)
- Systems and relationships (financial, transport, security, communications, management, and information systems)
- Trade agreements
- Technological improvements have led to the “shrinking world effect” which occurs when the world becomes more interconnected and people feel closer to each other.
- The “shrinking world effect” is caused by improvements to transportation (e.g., air travel and container ships) and information technology (e.g., internet and the rise of cell phones).
- Just-in-time production relies heavily on efficient ordering systems and reliability – often managed through Information and Communications Technology (ICT).
- International organizations, governments, banks, companies, and investors make up the world's global financial system.
- Deregulation of financial markets led to a free flow of capital around the world in the 1980s.
- Neoliberal policies encourage free trade and global investment which has led to an increase of flows of capital around the world.
- The World Trade Organization, the International Monetary Fund (IMF), and the World Bank support neoliberal policies.
- Container ships provide a standardized transportation system for goods, moving seamlessly between ships, trains, and lorries, which has lowered transportation times and costs.
- Air travel increases the speed of delivery for goods, increases tourism, and facilitates the movement of people between countries.
- Security measures are put in place to protect transport networks.
- Security can also limit globalization as countries tighten security measures in order to reduce the flow of people.
- Communication advancements such as the rise of the internet and the use of satellites allow people to connect instantly across the world.
- The internet, social media, and email increased the flow of information around the world.
- Submarine communication cables transmit telecommunications signals across the seafloor.
- Management and information systems make companies and businesses more efficient.
- Global supply chains support TNCs by providing access to raw materials, manufacturing, and sales.
- Offshoring moves a business entirely abroad, often to locations with cheaper labor.
- Outsourcing hires another company to carry out specific tasks within a business.
- Trade agreements are between countries and are designed to govern the flow of goods and services.
- The key players of global trade include the World Trade Organization (WTO), the International Monetary Fund (IMF), and the World Bank.
- Free trade areas eliminate internal barriers between countries, but they maintain independent external barriers.
- NAFTA (North American Free Trade Agreement) is an example of a free trade area.
- Customs unions are similar to free trade areas but they also have a common external barrier.
- Common markets are the same as customs unions but they also allow for the free flow of resources between member nations.
- Political unions include all the previous features but also have a uniform set of economic policies for all member countries.
- The European Union (EU) is an example of a customs union, common market, and political union.
- The EU is more integrated than NAFTA.
- Trade agreement are often between geographically close countries.
- The benefits of trade agreements include:
- Promoting global peace and cooperation.
- Encouraging economic growth.
- Promoting more free trade.
- Creating economies of scale.
- Increasing the movement of labor.
- Attracting investment.
- Trade agreements can cause exploitation, as countries can take advantage of cheaper labor in countries with lower levels of economic development.
- In 2020, NAFTA was renamed USMCA (United States, Mexico, Canada Agreement).
- Brexit is the United Kingdom's exit from the EU.
- Some argue that Brexit is evidence of deglobalization as it is a move to restrict trade.
- Some argue that the United States’ relationship with the EU and Japan are examples of trade agreements that go beyond geographic proximity.
- The Transatlantic Trade and Investment Partnership (TTIP) was a trade agreement that had been proposed between the EU and the United States, it was not finalized.
- The Trans-Pacific Partnership (TPP) is a trade agreement that had been signed between the United States, Australia, Brunei, Canada, Chile, Japan, Malaysia, New Zealand, Peru, Singapore, Vietnam, and the United States. The TPP was never ratified.
(Remainder of the notes are unchanged)
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Description
This quiz explores the concept of globalization, highlighting its various dimensions such as social, economic, cultural, and political aspects. It discusses how these forms of globalization interconnect people and places while emphasizing the rapid pace at which this process is unfolding. Test your understanding of the flows and impacts of globalization across the globe.
