Globalisation: summary L1

Definition: The increasing interconnection and integration of the world's economic, cultural, political, and social systems, leading to intertwined lives across distant places.
Multi-strand Process: Encompasses social, economic, cultural, political, and environmental aspects.

Technology: Advances in communication and information technology (ICT).
Improved Transport: Evolution of shipping (e.g., container ships) increasing capacity (from $500-800$ TEU to $21,000-25,000$ TEU) and efficiency.
Capital Mobility: Easier movement of investments and funds across borders.
Multinational Companies (TNCs): Drive cross-border exchanges of goods, services, and capital.
Labour Mobility: Movement of people for work and residence.
Lower Tariffs: Reduced trade barriers and restrictions.

Globalisation is the latest phase in a long history of interconnectedness, including past trade and colonialism.

Economic: Growth of TNCs, ICT supporting global divisions of labor, online purchasing.
Social: International immigration creating diverse societies, global improvements in education and health, increased social interconnectivity (mobile phones, internet).
Political: Growth of trading blocs (e.g., EU, NAFTA), global responses to crises, international organizations (World Bank, IMF, WTO) harmonizing economies.
Cultural: Spread of Western cultural traits ('Americanisation'), glocalisation (merging of local and global cultures), accelerated circulation of ideas and information via $24$ -hour reporting and social media.

Lengthening: Goods, services, and people traveling greater distances worldwide.
Deepening: Increased influence of other places on local lives (e.g., global food, movies).
Faster Speed: Real-time communication via internet, rapid intercontinental travel.

Pro-Globalisation ('Hyper-globalisers'): Positive view, citing reduced poverty and cultural mixing/diversification.
Anti-Globalisation: Concerns about migration freedom, cultural homogeneity (uniformity) due to TNCs, leading to skepticism.

Refers to the movement of capital, labor, information, products, and services across borders.

Concept of places or people with limited distant, deep, or fast connections to the rest of the world, often due to geographical, economic, or social reasons.