Y1S1 - Economic and Political Geography - Globalisation

Globalisation

Increase in the interconnectedness, intercommunication and interdependence of the world + its multi-dimensional

Different types of Globalisation

-Technological

-Financial

-Corporate

-Cultural

-Sociological

-Human

-

Technological globalisation

 the use of computer technologies to accelerate ‘time-spaced compression’ (takes less time to travel to different parts of the world, causing it to shrink) – technology reduces distance

Financial globalisation

Financial transactions across the globe 24/7

Corporate globalisation

New integrated production systems that allow firms to use capital and labour across the world

Cultural globalisation

consumption of ‘global products’ across the world, leading to a homogenising effect

Sociological globalisation

seeing the world as a ‘single society’ that is interconnected

Human globalisation

Increase in the scenario of people migrating to different countries for work, study etc