Globalization and Caribbean Development

What is globalization?

• The growth in understanding and relationships between all nations.

• The process of increased connection between countries. It is demonstrated through economics, politics and culture.

• The increase of borderless markets with no import and export tarrifs.

• The process of all nations and people becoming increasingly richer over time.

Globalization has occurred due to advancements in communication. Pick the option below that links to advances in communication.

• Reduction of trade barriers and tariffs

• Introduction of container ships

• Broadband and 5G networks

• Creation of postwar organisations such as the UN

Globalization has occurred due to political changes. Pick the option below that links to political changes.

• Reduction of trade barriers and tariffs

• Introduction of container ships

• Broadband and 5G networks

• Creation of postwar organisations such as the UN

Globalization has occurred due to advances in transportation. Pick the option below that links to advances in transportation.

• Reduction of trade barriers and tariffs

• Introduction of container ships

• Broadband and 5G networks

• Creation of postwar organisations such as the UN

What is the correct definition of cultural globalization?

• The transmission of ideas, meanings, and values around the world.

• The acceptance of open borders and freedom of movement of migrants.

• The strengthening and maintenance of traditional cultures.

• The growth of online broadcasting such as Netflix.

What is the main reason why transnational corporations have moved manufacturing overseas and in to low and middle income countries?

• Better infrastructure

• Lower labour costs

• High quality workforce

• Forced to move location

Identify the NEGATIVE consequence of companies building factories overseas.

• The flow of money into LEDCs provides an opportunity for economic growth.

• Creates new jobs and helps to develop skills.

• Investment can trigger a positive multiplier effect.

• Companies often have no ties to the new location and can leave whenever they want.

What is a sign of increasing interconnection through trade?

• Retail sales.

• Improvements to global communications.

• Increasing brand awareness.

• Rising global imports and exports.

By how much has global trade grown over the last century?

• 4 fold increase

• 14 fold increase

• 24 fold increase

• 40 fold increase

What percentage of the world's products are manufactured in China?

• 8%

• 28%

• 48%

• 78%