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What are the causes of globalization and why has it accelerated in recent…
What are the causes of globalization and why has it accelerated in recent decades
Widening and Deepening of connections
Time-space compression
Faster and more efficient travel
Mobile technology
Internet, social media, Fiber optics
Global politics becoming more important
Trade embargos / Sanctions
Improvements in Tech / Transport
Containerization instead of Break Bulk shipping increases efficiency
Internet allows high volumes of data to be sent around the globe instantly allowing instant communication
Electronic banking means finance is possible 24/7
International Politics
Intergovernmental organisations
Promote free trade
promote FDI
WTO, World Bank, IMF
Free trade blocks
EU, ASEAN
removal of tariffs
Free market liberalization by removing restrictions on imported goods
Special economic Zones
No taxes on certain exports
Chinas Open door policy
Low labour costs
strengthens domestic economy
Disproportionate spread of globalisation
Connected country - closely linked through trade
Isolated - country separated from others and largely self-sufficient
KOF index
AT Kearney Index
TNCs
Generate more income from larger customer base
Glocalisation
Outsourcing / offshoring