Globalisation (AQA A-Level Economics): Flashcards

Economies becoming increasingly interconnected and interdependent

Geographical separation matters less due to modern telecommunications

Encourages countries to reduce tariffs & trade barriers

Enterprises operating across countries, HQ in one nation

Manufacturing shifting from developed to newly industrialising areas

Facilities with poor conditions, long hours & very low wages

Global products adapted to local practices & culture

Ratio of a country's export prices to import prices

High-income countries like USA, UK, Germany, France & Japan

Countries restricting imports, often provoking retaliation