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4.1.3 Factors contributing to increased globalisation Typeit
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There are many factors that have led to increased globalisation. Some have a larger impact on business than others, but mostly globalisation is seen as positive as it opens up new trading opportunities. Here is some key terminology:
Trade : this is when there is the removal or reduction in trade barriers, e.g. lowering of trade barriers in the Chinese film industry to allow the screening of Hollywood movies
Trade : these come in the form of tariffs, quotas and legislation, e.g. US tariffs on Canadian lumber
Foreign Direct (FDI): where a company from one country trades or manufactures in another, e.g. Honda manufacturing in UK
: where people move from one country to another to secure employment, e.g. Polish workers heading to the UK to work as strawberry pickers on farms
change: when a country moves from primary (agribusiness) to secondary (manufacturing) sectors, or from secondary to tertiary (retail and banking)
: this means a multinational company that trades across national boundaries, e.g. Starbucks and McDonald's
: this is the process of a country raising trade barriers against another country, or trading bloc, to protect its domestic industries