Notes for Globalization and development and sustainability - IB | RevisionDojo
Globalization and development and sustainability Notes
Sustainability, Globalization and Development
Definition
Globalization
Process of increasing global interconnectedness through trade, investment, culture, technology, and population movement. Complex interdependence (Nye).
Global migration (air travel), containerization (90% of goods via sea).
Example: Port of Rotterdam adds €63bn to Dutch GDP (8.2%).
Expansion of financial activities:
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Definition
Paywall
(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.
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Note
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Tip
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Questions
Recap questions
1 of 5
Question 1
Recap question
Country X accepts large infrastructure loans under a global corridor initiative but later struggles with debt service as projected revenues fall short. Which concept best explains Country X’s predicament?
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Lesson
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Note
Introduction to Globalization
DefinitionGlobalizationThe process of increasing global interconnectedness through trade, investment, culture, technology, and population movement.
Complex interdependence means that countries are more connected than ever before, making it difficult for any nation to act in isolation.
Think of globalization like a spider web - when one part is touched, the whole web feels it.
AnalogyGlobalization is like a giant spider web - when one part is touched, the whole web feels it.
ExampleWhen a financial crisis occurs in one country, it can quickly spread to others due to global economic connections.
NoteGlobalization affects almost every aspect of our lives, from the products we buy to the information we access.
TipWhen studying globalization, always consider both the positive and negative impacts.
