Technology also contributed to economic globalization; containerized shipping, huge oil tankers, and air express services dramatically lowered transportation costs, while fiber optic cables and later the Internet provided the communication infrastructure for global interaction.
Which of the following factors contributed to economic globalization during the 20th century?
40 Cards in this Set
| What factors contributed to economic globalization during the 20th century | Technological advances that lowered Transportation cause dramatically |
|---|---|
| What highlights the global mobility of capital in the world since 1945 | Foreign direct Investments |
What factors have contributed to the growth of global economies quizlet?
Terms in this set (11)
- reduction of international trade barriers + liberalisation.
- Political change.
- Reduced cost of transport.
- Increased significance of global(transnational)companies.
- Increased investment flows (FDI)
- Migration.
- Growth of the global labour force.
- Structural change.
What are three negative effects of globalization?
It has had a few adverse effects on developed countries. Some adverse consequences of globalization include terrorism, job insecurity, currency fluctuation, and price instability.
What factors contributed to the rise of globalization?
Main reasons that have caused globalisation
- Improved transport, making global travel easier.
- Containerisation.
- Improved technology which makes it easier to communicate and share information around the world.
- Growth of multinational companies with a global presence in many different economies.
What factors have led to increased globalization?
Factors That Have Contributed to Globalisation
- Containerisation. The costs of ocean shipping have come down, due to containerisation, bulk shipping, and other efficiencies.
- Technological change.
- Economies of scale.
- Differences in tax systems.
- Less protectionism.
- Growth Strategies of Transnational and Multinational Companies.
What is one major problem that has resulted from globalization in the 20th and 21st century?
One major problem that has resulted from globalization in the 20th and 21st century is that the diseases are able to spread around the world more quickly. Globalization has reached a point that the problems of one country are likely to affect the whole world since the world is nowadays like a global village.
What were the causes that have accelerated globalization in the late 20th century?
However, in recent decades the process of globalisation has accelerated; this is due to a variety of factors, but important ones include improved trade, increased labour and capital mobility and improved technology.
