GEOGRAPHY A LEVEL EDEXCEL PAPER 2

GEOGRAPHY A LEVEL EDEXCEL PAPER 2 Globalisation - ANS The growing interdependence of countries, people and cultures worldwide through increasing connections including trade in goods and services and flows of capital, technology and ideas/ Shrinking world - ANS Although physical distances around the world are unchanged, technology has massively reduced the time it takes to trade, travel, and communicate globally. Transport developments for globalisation - ANS - Railways - Aircraft - Containerisation ICT developments for globalisation - ANS - Mobile phones/telephones - The internet - GIS/GPS - Broadband/fibre optics Political and economic organisations - ANS 1. World bank 2. International monetary fund (IMF) 3. World Trade Organisation (WTO) Why were political and economic organisations needed post WW2? - ANS Following the second-world-war, the economically weak western nations wanted to prevent the spread of communism from the east, which they saw as a threat. These organisations were established for economic development, and to control and oversee international agreements. Trade restrictions - ANS - Tariffs - Quotas - Embargo - Subsidies Tariffs - ANS A tax placed on goods that are imported from other countries Quotas - ANS A limit placed on the number of goods that are imported from other countries Embargo - ANS A ban placed on certain goods imported from other countries Subsidies - ANS A sum of money granted by the government to help an industry or business keep the price of goods low WTO goal - ANS The WTO wants to eradicate barriers to trade Free Trade - ANS Trade without any restrictions Free Trade process - ANS 1. Governments take away barriers that make trade more difficult and costly. 2. As coasts are reduced, TNCs will see a profit and want to invest in nations. 3. TNCs will bring new ideas, products, cultures, etc. to a nation 4. Also the TNC will generate wealth. 5. Their wealth and development will increase standard of life and demand for foreign products. 6. As an economy has more TNCs, they become more interconnected and interdependent for each other. Trading Blocs - ANS Countries which group together to improve their economic interest and trading patterns. They often do this by placing barriers to trade with countries outside the group. NAFTA - ANS North American Free Trade Agreement - USA, Mexico, Canada - Population = 472m - Combined GDP (PPP) = $20.2 tn EU - ANS European Union - Population = 508m = GDP (PPP) $19 tn MERCOSAR - ANS Southern Common Market - Six full members - Population = 289m - GDP (PPP) $4 tn - South America OPEC - AN