MYP History Globalisation of Markets Notes

What connects modern economies?

1. Globalisation today means that almost every country, city, and company is tied into a shared economic web.
2. Products are designed in one place, made in another, shipped across oceans, and sold everywhere.
3. Money, ideas, technologies, and workers move so quickly that decisions made in one country can affect people on the other side of the world within hours.
4. Global markets aren’t new, but they’re now faster, bigger, and more interconnected than ever.

What connects modern economies?

Trade links between countries

1. Nations specialise in what they produce best (cars, electronics, food).
2. They sell to each other through global supply chains.
3. Transport and shipping systems make worldwide trade fast and predictable.

Example

• The smartphone supply chain
  • A single phone combines:
    • design from the US
    • software from India
    • microchips from Taiwan
    • metals from Africa
    • assembly in China
  • One product → dozens of countries → one global market.

Flows of money and investment

1. Banks and investors move money internationally in seconds.
2. Companies can invest in factories or services anywhere in the world.