Factors of Globalisation

1. Global financial deregulation

   Nota:

   • End of Bretton Woods System Big Bang
2. Growth of TNCs
3. Outsourcing/offshoring of production
4. Remittances & the diaspora

   Nota:

   • Easier due to technological innovations i.e. skype

1. Tourism

   Nota:

   • See Butler model on Mass Tourism from AS
2. Migration

   Nota:

   • Good for the economy as already educated, which is why UK has Tiered immigration system Migrants generate 6x more in taxes than benefits
   1. Economic
   2. Forced

      Nota:

      • Refugees Syria crisis
3. Education

1. WTO

   Nota:

   • World Trade Organisation 2008 - 152 member states
2. End of cold war

   Nota:

   • Exposure to new markets- Russia and China
3. Internationalism

   Nota:

   • "The doctrine that nations should cooperate because their common interests are more important than their differences"

Nota:

• Reduced impact of friction of distance

1. Transport
   1. Goods
      1. Containerisation

         Nota:

         • Has expidited speed at which cargo is moved & has lowered shipping costs
         • Port of Felixtowe: Located in Suffolk Uk's busiest container port 40% UK container cargo In 2005, ranked 28th busiest container port in world Europe's 6th busiest 3.3 million 20ft equivalent units of traffic in 2007, a 10% increase from 2006. Relevant because illustrates increase in container traffic & therefore increase in economy of scale over time.
   2. People

      Nota:

      • Cheap and frequent airline travel
2. Communications
   1. Internet

      Nota:

      • 2010- 83% UK regular access 3% Malawi regular access to internet