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Globalisation - Coggle Diagram
Globalisation
Influencing factors
Global financial crisis
2008 Great Recesiion
The cause of the Great Recession in 2008 was due to the fact that the majority of the world was linked together via the stock markets, as global firms were all publicly listed companies in order to increase their profits from shareholders. This meant that when the crash came, although it was due to subprime mortgage loans in Florida, it hit the majority of the world and damaged economies globally due to the interconnectivity of firms worldwide.
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Definitions
Main definition
The process by which the world's local and regional economies, societies, and cultures have become integrated together through a global network of communication, transportation and trade. Includes societal integration through migration.
Other definitions
Political Globalisation mainly involves the growth of west democracies and their influence on poor countries, combined with this is the decline of centralised economies.
Social Globalisation mainly involves examining how western culture has spread around the world – this includes art, media, sport and leisure pursuits.
Economic Globalisation is mainly caused by the growth of Transnational corporations (TNCs), and involves aspects such as global trade and the supply and sale of goods around the world.
Globalisation is the growing interdependence of countries worldwide through the increasing volume and variety of cross-border transactions in goods and services and of increasing capital flows, and through the more rapid and widespread diffusion of technology.
Aims
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To secure socio-economic integration and development of all the people of the world through a free flow of goods, services, information, knowledge and people across all boundaries
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