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Human Geography

Economic Geography

Globalization

LO:Discuss the characteristics and processes of globalization

Discuss the impact of globalization on the world economy

Discuss what is meant by ‘the globalization of economic activity’

Discuss the global, regional and national variations in economic wealth

Discuss the development gap

Evaluate the usefulness of various indicators used to measure the level of development

Globalization: The increasing interconnectedness and interdependency of peoples, cultures, economies and politics at all spatial scales; involves deep integration of different economies across borders, creation of complex and intertwined relationships.

Flows of capital and goods

o

Cross-border movements of production and investments

Movement of people

o

Migration, tourism

Diffusion of information and culture

o

Advancement of IT – the internet

o

Flows of cultural forms and symbols: movies, consumerism

Rise if international organizations

o

Supranational bodies

The Impetus for Globalization

Disabling factors

Why globalization doesn’t happen

Enabling factors

Why globalization happens

Expensive labour on standardized goods

Cheap labour

Strong unions

Standardization of production

High expenses on labour welfare

Cheap RM

Saturated markets

Cheap land, low taxes

Increased mobility – transport & communications

Search for new markets

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