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Macro Summary - Globalisation & The International Economy
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1. define Globalisation the process through which nation- al economies, societies and cultures are becoming increasingly intercon- nected through global networks of trade, communication, transportation and immigration 2. where are levels of globalisation the highest 3. where are levels of glo...

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  • May 17, 2023
  • 27
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • communication
  • transportatio
  • 1 define globalisation the process through which nation al economies
  • societies and cultures are becoming increasingly intercon nected through global networks of trade

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  • Macro Summary - Globalisation & The International
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Macro Summary - Globalisation & The International
Economy
1. define Globalisation the process through which
nation- al economies, societies
and cultures are becoming
increasingly intercon- nected
through global networks of
trade, communication,
transportation and immigration

2. where are levels of between core countries, as a
globalisation the highest result of them having sorted out
major do- mestic problems,
giving them spare capacity to
look to solve international
issues
3. where are levels of
globalisation the lowest in countries participating in
conflict
4. 3 Key Characteristics of
Globalisa- tion
1) increasing global capital flows
2) global supply chains
3) high levels of international
labour migration

5. 4 causes of globalisation 1) containerisation
2) trade agreements
3) activity of TNCs
4) technological advances

6. define 'Containerisation' the use of the same container
size
and format worldwide,
increasing the efficiency of
international logistics

7. 2 reasons of an increase in TNC ad- vances facilitating
ac- tivities globalisation

8. 2 examples of technological

1/

, Macro Summary - Globalisation & The International
Economy
1) global logistics systems
9. main aim of the WTO 2) global flows of capital

1) development of Boeing 747
in the 1960s making air travel
cheaper, in- creasing migration
2) development of World Wide
Web in 1989 allowing for
information transfers




2/

, Macro Summary - Globalisation & The International
Economy
lowering barriers to trade to
increase global economic
integration

10. 2 activities of the WTO 1) settling trade disputes
2) reducing barriers to trade

11. example of the WTO reducing 1986 Uruguay Round reduced
barri- ers to trade barri- ers to the trade of
manufactured in- dustrial
goods
12. define a Free Trade Area (eg.
NAF- TA) an agreement between
countries to liberalise trade
between them, remov- ing all
13. 5 steps of economic integration, internal barriers to trade
in order of increasing integration
1) free trade area
2) customs union
3) single market
4) monetary union
14. define a Customs Union (eg. 5) economic union
EU Customs Union)
countries that agree to abolish
tar- iffs between member
nations, but also adopt a
common external tariff on im-
ports from non-member
countries

15. define a Single Market (eg. ASEAN) integration between countries
allow-
ing for the free movement of
labour, goods and services and
capital be- tween them

16. define a Monetary Union (eg. 17. define an Economic Union
the Eurozone) (eg. the EU)


3/

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