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Globalisation revision - flows

Globalisation revision notes
Subject

Human Geography

335 Documents
Students shared 335 documents in this course
Academic year: 2020/2021
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Cardiff University

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Globalisation

Flows of information - Includes financial data and news of current events - can be spread very quickly and easily - Widespread internet connection (e-mail, social media and internet) - instantly exchange large amounts of information - people from different countries can work together and communicate - Increasing information flows allows the world to be more interconnected - learn more about different countries and cultures, without leaving their country

Flows of services - Are economic activities not based on production of material goods - ICT improvements allow services to be global industries and serves needs of customers anywhere - Banking and insurance rely on communication and transfer of info - 70s and 80s was deregulation and opening of financial markets to the world, easier for banks to do business globally - Split into low level and high level services; high in cities in MEDCs and low in LEDCs where there is cheap labour so companies relocate - Increasing service flows make world interconnected through huge international organisations

Flows of capital - This is money that is invested and spent to produce increased profit - Traditionally it was mostly spent within a country, e. new factories or branches within the country of origin - Foreign Direct Investment (FDI) has increased recently e. global FDI has increased from $400 billion in 1996 to $1500 billion in 2016 - Improvements in ICT, allow capital to be instantly moved around the world via internet - Increased capital flows have made the world more interconnected as most countries are now dependent on flows (& investment) from other countries

Flows of products - Factories used to be located in more developed countries and products were sold in countries that they were made in - There has been a decline in manufacturing in more developed countries recently e a 2 drop in employees in 30 years

  • They have relocated to other, less developed countries, due to lower labour costs - products are imported to other countries e. Dyson moved production side of company to Malaysia, but products are still sold in the UK
  • This caused international trade in manufactured goods to increase e a £250 billion increase in 18 years to the UK
  • Makes the world more interconnected e many of the products sold in the UK are produced and imported

Flows of labour - International migration increased by 40% between 2000 and 2015, some have to and some for work - Some migrants are highly skilled eg. ICT, move to MEDCs for better wages and working conditions - Unskilled workers move due to unemployment or poor wages - Increasing labour flows bring culture and keeps people connected through family and businesses

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Globalisation revision - flows

Subject: Human Geography

335 Documents
Students shared 335 documents in this course
Degree:

Sixth Form (A Levels)

Was this document helpful?
Globalisation
Flows of information
- Includes financial data and news of current events - can be spread very quickly and
easily
- Widespread internet connection (e-mail, social media and internet) - instantly
exchange large amounts of information - people from different countries can work
together and communicate
- Increasing information flows allows the world to be more interconnected - learn
more about different countries and cultures, without leaving their country
Flows of services
- Are economic activities not based on production of material goods
- ICT improvements allow services to be global industries and serves needs of
customers anywhere
- Banking and insurance rely on communication and transfer of info
- 70s and 80s was deregulation and opening of financial markets to the world, easier
for banks to do business globally
- Split into low level and high level services; high in cities in MEDCs and low in LEDCs
where there is cheap labour so companies relocate
- Increasing service flows make world interconnected through huge international
organisations
Flows of capital
- This is money that is invested and spent to produce increased profit
- Traditionally it was mostly spent within a country, e.g. new factories or branches
within the country of origin
- Foreign Direct Investment (FDI) has increased recently e.g. global FDI has increased
from $400 billion in 1996 to $1500 billion in 2016
- Improvements in ICT, allow capital to be instantly moved around the world via
internet
- Increased capital flows have made the world more interconnected as most countries
are now dependent on flows (& investment) from other countries
Flows of products
- Factories used to be located in more developed countries and products were sold in
countries that they were made in
- There has been a decline in manufacturing in more developed countries recently e.g
a 2.5million drop in employees in 30 years

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