Globalisation: Key Concepts

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Overview of globalisation topics

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Mark Cowan

Reino Unido

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Globalisation: Key ConceptsVersión en línea Overview of globalisation topics por Mark Cowan 1 Hyper-globalisers Who are hyper-globalisers? People who see globalisation as a positive process 2 Shallow integration What is meant by a shallow form of integration? Places in the world who have seen little change due to globalisation due to their limited links with the outside world i.e Areas of Sudan 3 Biggest spender on international travel Who is now the biggest spender on international travel? China-over 120 million outbound trips 4 Time-space compression What is meant by time-space compression? Shrinking world as transport and technology reduce the barriers of distance 5 Spatial division of labour What does the spatial division of labour refer to? Low skilled production jobs located in LICs but R and D jobs in HICs 6 African mobile phone ownership In 2006 just 6% of all Africans owned a mobile phone. What is it now? Over 70% 7 Satellites orbiting the Earth How many satellites orbit the Earth? 24 8 Steam power and globalisation Why could the invention of steam power be linked to a cause of globalisation? Steam ships and trains moved goods around the British Empire in the 1800s 9 Aim to increase exports A key government aim is to increase exports from country 10 UKTI and overseas trade UK has the UK Trade and Investment (UKTI) department to do this they offer support and advice on all aspects of trade to encourage overseas trade. 11 Dry ports in LICs In some larger LICs which have less developed infrastructure exporters use dry ports. E.g. Karachi-saves the exporter time and transport costs to ship from the port as the paperwork and shipment arrangements is done locally. 12 Investment banks and investors Financial systems are based on companies called investment banks. These help companies raise capital by selling shares on behalf of these companies. The people who buy the shares are called investors. 13 Trade and financial exchanges Trade used to be hindered by financial exchanges for goods 14 Deregulation in finance Deregulation has allowed more finance to be moved freely as well as letting banks invest in a greater range of businesses 15 Electronic trading and security High speed electronic trading systems and global exchange communities allow financial transactions between importers and exporters are completed quickly and securely. 16 IT and investment information Information technology has allowed investors greater access to information so they can make an informed choice over whether to invest. 17 Shipping improvements Products and commodities can now be shipped more quickly, in larger quantities and cheaply due to: Increased size of aircraft and integrated air transport networks Growth of low cost airlines and air freight companies Use of standardised containers Handlings and distributing efficiencies Computerised logistics systems High speed rail networks Containerisation introduced in the 1950s-more goods could be loaded at once onto the ship. Communication satellites launched in the 1960s. Allow cheap, wireless communication so people in remote or rural areas can access the internet and communicate Optic fibre cables allow fast communication between two devices which allow almost instant communication In last 20 years significant growth in software which allows free communication e.g text messaging services, email etc. 18 Security issues in trade Trade community faces a number of security issues-supply chain security, crime, anti-terrorism, food and bio-security, fiscal and anti-smuggling. 19 WCO and EU regulation World Customs Organisation (WCO) and regional measures such as EU regulation and initiatives aim to alleviate threats 20 NATO and global security NATO was founded after WW2 to improve global security during the Cold War-by grouping together they deter common threats. 21 Security and trade Security has tightened with recent terrorist events and these may have benefited trade. 22 Security and resources However, unless there is a cohesive approach to security it could lead to increasing costs and create delays for shipment of goods. E.g. HICs have intervened in conflicts in developing countries to secure resources like oil. 23 Global supply chains Companies supply chains have become global. This allows companies to minimise costs. 24 Transport and communication growth Improved transport and communication systems has led to revolution of production and distribution of goods 25 Economies of scale High volume production allow economies of scale on a global level 26 Investment in large plants This is only the case if companies invest in large plants with technology i.e. robotics in car manufacturing. They also need to invest in global marketing and distribution networks to keep pace with increase in production 27 Global value chains Investments in international production, distribution and management are increasingly organised within global value chains, where the different stages of production are located across different countries 28 Outsourcing Outsourcing leads to lower costs i.e outsourcing call centres abroad 29 Changing working practices Working practices have changed- Casual and temporary contracts allow companies to take on workers as and when they are required-this saves money 30 Primark Primark-fast fashion from East Asia 31 IT enabling production networks This global production network has been enabled by IT and the internet which gives businesses: Free telecommunications and video conferencing, integrated ICT systems which facilitate greater visibility of shipment control at each stage of passage 32 Trade regulation Trade is regulated by governments. Controls include tariffs, quotas and bans on certain products 33 Trade costs Controls make it more expensive for companies to sell their products abroad 34 Trade agreements Trade agreements can reduce or eliminate these controls so trade is cheaper for both companies and consumers 35 Bilateral and multilateral Agreements between two countries are called bilateral agreements. Multilateral agreements are between several countries 36 WTO and regional trade Global trade systems are governed by the WTO which was established in 1995. These set trade rules and also negotiate trade deals. 37 Regional trade systems Most trade agreements are regionally based such as the EU, which was originally set up as a common market 38 OPEC and oil trading Organisation of Petroleum Exporting Countries (OPEC) is global organisation. Its focus is the trade of oil, which is the single most important traded commodity 39 Impact of trade agreements These trade agreements can also promote peace and raise members standards of living

Globalisation: Key ConceptsVersión en línea

Overview of globalisation topics

Hyper-globalisers

Who are hyper-globalisers? People who see globalisation as a positive process

Shallow integration

What is meant by a shallow form of integration? Places in the world who have seen little change due to globalisation due to their limited links with the outside world i.e Areas of Sudan

Biggest spender on international travel

Who is now the biggest spender on international travel? China-over 120 million outbound trips

Time-space compression

What is meant by time-space compression? Shrinking world as transport and technology reduce the barriers of distance

Spatial division of labour

What does the spatial division of labour refer to? Low skilled production jobs located in LICs but R and D jobs in HICs

African mobile phone ownership

In 2006 just 6% of all Africans owned a mobile phone. What is it now? Over 70%

Satellites orbiting the Earth

How many satellites orbit the Earth? 24

Steam power and globalisation

Why could the invention of steam power be linked to a cause of globalisation? Steam ships and trains moved goods around the British Empire in the 1800s

Aim to increase exports

A key government aim is to increase exports from country

UKTI and overseas trade

UK has the UK Trade and Investment (UKTI) department to do this they offer support and advice on all aspects of trade to encourage overseas trade.

Dry ports in LICs

In some larger LICs which have less developed infrastructure exporters use dry ports. E.g. Karachi-saves the exporter time and transport costs to ship from the port as the paperwork and shipment arrangements is done locally.

Investment banks and investors

Financial systems are based on companies called investment banks. These help companies raise capital by selling shares on behalf of these companies. The people who buy the shares are called investors.

Trade and financial exchanges

Trade used to be hindered by financial exchanges for goods

Deregulation in finance

Deregulation has allowed more finance to be moved freely as well as letting banks invest in a greater range of businesses

Electronic trading and security

High speed electronic trading systems and global exchange communities allow financial transactions between importers and exporters are completed quickly and securely.

IT and investment information

Information technology has allowed investors greater access to information so they can make an informed choice over whether to invest.

Shipping improvements

Products and commodities can now be shipped more quickly, in larger quantities and cheaply due to:
Increased size of aircraft and integrated air transport networks
Growth of low cost airlines and air freight companies
Use of standardised containers
Handlings and distributing efficiencies
Computerised logistics systems
High speed rail networks
Containerisation introduced in the 1950s-more goods could be loaded at once onto the ship.
Communication satellites launched in the 1960s. Allow cheap, wireless communication so people in remote or rural areas can access the internet and communicate
Optic fibre cables allow fast communication between two devices which allow almost instant communication
In last 20 years significant growth in software which allows free communication e.g text messaging services, email etc.

Security issues in trade

Trade community faces a number of security issues-supply chain security, crime, anti-terrorism, food and bio-security, fiscal and anti-smuggling.

WCO and EU regulation

World Customs Organisation (WCO) and regional measures such as EU regulation and initiatives aim to alleviate threats

NATO and global security

NATO was founded after WW2 to improve global security during the Cold War-by grouping together they deter common threats.

Security and trade

Security has tightened with recent terrorist events and these may have benefited trade.

Security and resources

However, unless there is a cohesive approach to security it could lead to increasing costs and create delays for shipment of goods. E.g. HICs have intervened in conflicts in developing countries to secure resources like oil.

Global supply chains

Companies supply chains have become global. This allows companies to minimise costs.

Transport and communication growth

Improved transport and communication systems has led to revolution of production and distribution of goods

Economies of scale

High volume production allow economies of scale on a global level

Investment in large plants

This is only the case if companies invest in large plants with technology i.e. robotics in car manufacturing. They also need to invest in global marketing and distribution networks to keep pace with increase in production

Global value chains

Investments in international production, distribution and management are increasingly organised within global value chains, where the different stages of production are located across different countries

Outsourcing

Outsourcing leads to lower costs i.e outsourcing call centres abroad

Changing working practices

Working practices have changed- Casual and temporary contracts allow companies to take on workers as and when they are required-this saves money

Primark

Primark-fast fashion from East Asia

IT enabling production networks

This global production network has been enabled by IT and the internet which gives businesses: Free telecommunications and video conferencing, integrated ICT systems which facilitate greater visibility of shipment control at each stage of passage

Trade regulation

Trade is regulated by governments. Controls include tariffs, quotas and bans on certain products

Trade costs

Controls make it more expensive for companies to sell their products abroad

Trade agreements

Trade agreements can reduce or eliminate these controls so trade is cheaper for both companies and consumers

Bilateral and multilateral

Agreements between two countries are called bilateral agreements. Multilateral agreements are between several countries

WTO and regional trade

Global trade systems are governed by the WTO which was established in 1995. These set trade rules and also negotiate trade deals.

Regional trade systems

Most trade agreements are regionally based such as the EU, which was originally set up as a common market

OPEC and oil trading

Organisation of Petroleum Exporting Countries (OPEC) is global organisation. Its focus is the trade of oil, which is the single most important traded commodity

Impact of trade agreements

These trade agreements can also promote peace and raise members standards of living