Please enable JavaScript.
Coggle requires JavaScript to display documents.
Shrinking World - Coggle Diagram
Shrinking World
Impacts
Economic
-
Stocks being traded between countries has lead to increased FDI, especially to developing nations.
-
-
-
History
19th & 20th Centuries
Steam power:
In the 1800s, Britain was leading the world through using steam-powered technology.
-
Containerisation:
There are more than 200 million container movements each year, which is vital to the global economy.
21st Century
GSP:
Allows goods and people to be tracked, especially useful for large TNCs.
Fibre optics & internet:
Faster and larger transfer of data, opinions and ideas can be shared globally.
-
Key Players
IGOs
IMF:
- Loans money to developing nations
- Country must open markets from government control
- Can lead to debt caused by privatisation
- Debt can lead to lack of funding for healthcare, etc
World Bank:
- Loans money to developing nations
- Aims to improve development and increase globalisation
- Can lead to debt and limit government sovereignty
WTO:
- Aims to liberalise trade
- Removes tariffs and subsidies
- Unsuccessful at allowing equal opportunities for trade
National Governments
-
-
-
Business start-ups:
Grants and tax breaks are available to businesses to encourage them to move to certain areas.
Trade Blocs
-
Benefits
-
Raw materials, outsourcing, and skilled workers are easier to access and move around.
-
Examples
NAFTA:
- Canada, Mexico, and USA
- Established 1994
EU:
- 27 European countries (ie. France)
- Established 1993
ASEAN:
- 10 member countries (ie. Thailand)
- Established 1967
MERCOSUR:
- 4 full members (Argentina, Brazil, Paraguay, and Uruguay)
- 7 associated countries
- Venezuela has been suspended since 2016
- Established 1991