The process where countries become more and more integrated due to improved technology and increased inter-connectedness
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What are the key features of globalisation?
Greater trade, expansion of FDI, high levels of labour migration, mew nations joining the world trading system, greater GDP, migration of labour, outsourcing (global supply chain)
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What does OECD stand for?
The Organisation for Economic Co-operation and Development (OECD)
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What is the OECD's mission?
Monitor economies, follows guidelines and work together to support each other by collecting statistics and providing them to governments
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How does containerisation contribute to globalisation?
Lower unit costs of shipping products around the global economy due to containerisation, bulk shippng, stacking
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How does technological change contribute to globalisation?
Technology advancements have made it quicker, simpler and less costly to send information around the world and to provide services
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How does economies of scale contribute to globalisation?
Increase in Minimum Efficient State (MES), domestic market may be too small to satisfy consumer demans which leads to an increase in transnational corporations
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How do differences in tax system contribute to globalisation?
Adjustment of tax systems to attract FDI. Countries engaging in tax competition to win FDI projects
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Other cards in this set
Card 2
Front
What are the key features of globalisation?
Back
Greater trade, expansion of FDI, high levels of labour migration, mew nations joining the world trading system, greater GDP, migration of labour, outsourcing (global supply chain)
Card 3
Front
What does OECD stand for?
Back
Card 4
Front
What is the OECD's mission?
Back
Card 5
Front
How does containerisation contribute to globalisation?
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