Edexcel A Level Economics A:复习笔记4.1.1 Globalisation

• Globalisation is the economic integration of different countries through increasing freedoms in the cross-border movement of people, goods/services, technology & finance
• This integration of global economies has impacted national cultures, spread ideas, speeded up industrialisation in developing nations & led to de-industrialisation in developed nations
• Globalisation has been increasing for thousands of years - it is not a new phenomenon
• Improvements in technology & the speed of global connections have exponentially increased the level of interdependence between nations in the past 50 years
• Consumers now source products globally recognising global brands wherever they travel

The Four Main Characteristics of Globalisation

Factors Contributing to Globalisation

• In 2000 the value of global trade was approximately $6.45 trillion. By 2020 this figure was at $19 trillion
• Numerous factors have contributed to the rapid increase in the pace of globalisation but perhaps two of the most significant are the improvements in containerised shipping & the innovation in communication technology

Factors Contributing to Globalisation in the Last 50 Years

• Many of the impacts of globalisation have been positive, however there have been some very negative ones too
• When considering the impacts, it is useful to acknowledge all of the stakeholders including individual countries, governments, firms, consumers, workers & the environment

The impacts of Globalisation on Stakeholders

• Two of the more recent criticisms of globalisation include
  • The lack of action by some governments to help workers unable to find new jobs as a result of structural unemployment
  • The use of legal mechanisms (e.g. transfer pricing) & corruption by transnational corporations is stripping developing countries of their assets & has been called 'new colonialism'