Global Governance stats
Study online at https://quizlet.com/_g2tisu
the 3 stages of globalisation (Friednmann)
Globalisation 1: The emergence of Empires and their associated
trade patterns.
model of globalisation Globalisation 2: The emergence of trans-national corporations and
the globalization of production chains.
Globalisation 3: The emergence of individual social, cultural and
economic networks facilitated by the internet.
deregulation of financial markets since late 20th century has in-
flows of capital
creased flows
middle east -> construction -> labour migration
flows of labour demand for low cost labour -> Qatar world cup indian labourers
links to lees model of migration
has been facilitated by WTO promoting removal of tariffs, reduced
international transaction costs, reduced transportation costs and
flows of products regional trade blocs
e.g. mastercards, visa, USMCA, EU
indian outsourcing
medicine
teleradiology outsourcing
company employs 50 ppl
flows of services/info
photo editing
scan cafe
1 to 210 cheaper in India than USA
coca cola
glocalises product to suit regional tastes.
global marketing e.g. in USA coca cola is made with corn syrup due to farming laws.
coca cola share a coke with.. promotional packaging tailored for
the HK market
the apple supply chain
R&D in usa
components in HICs and MIDs (taiwan)
manufacturing in LICs/MICs such as china
patterns of production, distribution and consumption
storage in usa
retail is global
this is called the global shift
time space convergence fastest plan from australia to uk is 17hrs
containerisation has occurred started in 1930s.
economies of scale - containerisation
1980s ships could carry 5k containers, now can carry over 24k
biometric passports facilitate the globalisation of travel
security systems
- protect identity and reduce identity fraud
russia's removal from SWIFT
SWIFT is used by 11,000 banks in over 200 countries
financial systems: SWIFT
alternatives to SWIFT is CIPs by China -> could lead to two global
economies
Trade agreements: NAFTA/USMCA combined total GDP of $26 trillion
1/8
, Global Governance stats
Study online at https://quizlet.com/_g2tisu
gamestonk 2021
a group of redditeors on a forum called 'wallstreetbets' noticed that
GameStop shares were being shorted and decided to mass buy
these shares
economic interdependence
Share prices rose from US$30 to US$350.
Hedge Fund Melvin Capital lost 53% of its value following the
activism.
K pop activism
BTS army sabotaged donald trumps campaign rally. BTS donated
social/political interdependence
to BLM movement
via twitter
HK
pros
This labour supports the socio economics functioning of HK
Supports dual income families in HK - subcontract domestic re-
sponsibilities Housing is 2nd most expensive in the world
Supports the care of the elderly -live in helpers allows elderly
residents to remain in their homes. (HK has an aging population
and no state pension)
Languages and skills passed onto children -> English speaking
Filipino helpers teaching children.
cons
Labour abuse -> see Edwianna Sulistyaningsih
Impact on familial relations of childcare being subcontracted out
to domestic helper
Social conflicts regarding occupation of public space during rest
days
PHILLIPINES
pros
unequal flows of people; HK/PHILLIPINES
Remittances
Provide families with money to pay for food, bills, school fees
Account for nearly 10% of the country's GDP. Multiplier effect
Remittances is growing by 4.7% per year since 2014
Remittances help families get out of poverty % of families below
the poverty line dropped from 22% to 16% 97% use remittances
on essential items (food) Over 38% of families used remittances
for savings (emergency/house)
Boost entrepreneurial activity Micro, small and medium sized en-
terprises (MSMEs) create economic development and jobs 5% of
families use remittances for investment
Less susceptible to natural hazards. Increased resilience.
cons
Philippines is 4th for remittance receivers - increased economic
reliance between countries. Interdependence. Cycle of reliance is
broken when the family member can no longer work.
Breakdown of relationships between families due to separation
Lack of financial education on investments and savings
70% fail to reach their financial goals
8% of the world's wealth is stores in offshore tax havens ($5.3
trillion)
2/8
Study online at https://quizlet.com/_g2tisu
the 3 stages of globalisation (Friednmann)
Globalisation 1: The emergence of Empires and their associated
trade patterns.
model of globalisation Globalisation 2: The emergence of trans-national corporations and
the globalization of production chains.
Globalisation 3: The emergence of individual social, cultural and
economic networks facilitated by the internet.
deregulation of financial markets since late 20th century has in-
flows of capital
creased flows
middle east -> construction -> labour migration
flows of labour demand for low cost labour -> Qatar world cup indian labourers
links to lees model of migration
has been facilitated by WTO promoting removal of tariffs, reduced
international transaction costs, reduced transportation costs and
flows of products regional trade blocs
e.g. mastercards, visa, USMCA, EU
indian outsourcing
medicine
teleradiology outsourcing
company employs 50 ppl
flows of services/info
photo editing
scan cafe
1 to 210 cheaper in India than USA
coca cola
glocalises product to suit regional tastes.
global marketing e.g. in USA coca cola is made with corn syrup due to farming laws.
coca cola share a coke with.. promotional packaging tailored for
the HK market
the apple supply chain
R&D in usa
components in HICs and MIDs (taiwan)
manufacturing in LICs/MICs such as china
patterns of production, distribution and consumption
storage in usa
retail is global
this is called the global shift
time space convergence fastest plan from australia to uk is 17hrs
containerisation has occurred started in 1930s.
economies of scale - containerisation
1980s ships could carry 5k containers, now can carry over 24k
biometric passports facilitate the globalisation of travel
security systems
- protect identity and reduce identity fraud
russia's removal from SWIFT
SWIFT is used by 11,000 banks in over 200 countries
financial systems: SWIFT
alternatives to SWIFT is CIPs by China -> could lead to two global
economies
Trade agreements: NAFTA/USMCA combined total GDP of $26 trillion
1/8
, Global Governance stats
Study online at https://quizlet.com/_g2tisu
gamestonk 2021
a group of redditeors on a forum called 'wallstreetbets' noticed that
GameStop shares were being shorted and decided to mass buy
these shares
economic interdependence
Share prices rose from US$30 to US$350.
Hedge Fund Melvin Capital lost 53% of its value following the
activism.
K pop activism
BTS army sabotaged donald trumps campaign rally. BTS donated
social/political interdependence
to BLM movement
via twitter
HK
pros
This labour supports the socio economics functioning of HK
Supports dual income families in HK - subcontract domestic re-
sponsibilities Housing is 2nd most expensive in the world
Supports the care of the elderly -live in helpers allows elderly
residents to remain in their homes. (HK has an aging population
and no state pension)
Languages and skills passed onto children -> English speaking
Filipino helpers teaching children.
cons
Labour abuse -> see Edwianna Sulistyaningsih
Impact on familial relations of childcare being subcontracted out
to domestic helper
Social conflicts regarding occupation of public space during rest
days
PHILLIPINES
pros
unequal flows of people; HK/PHILLIPINES
Remittances
Provide families with money to pay for food, bills, school fees
Account for nearly 10% of the country's GDP. Multiplier effect
Remittances is growing by 4.7% per year since 2014
Remittances help families get out of poverty % of families below
the poverty line dropped from 22% to 16% 97% use remittances
on essential items (food) Over 38% of families used remittances
for savings (emergency/house)
Boost entrepreneurial activity Micro, small and medium sized en-
terprises (MSMEs) create economic development and jobs 5% of
families use remittances for investment
Less susceptible to natural hazards. Increased resilience.
cons
Philippines is 4th for remittance receivers - increased economic
reliance between countries. Interdependence. Cycle of reliance is
broken when the family member can no longer work.
Breakdown of relationships between families due to separation
Lack of financial education on investments and savings
70% fail to reach their financial goals
8% of the world's wealth is stores in offshore tax havens ($5.3
trillion)
2/8
