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22 Cards in this Set
- Front
- Back
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Merchandise |
All inward and outward movement of tangible goods through a country- Asia has nearly 10 times the value of merchandise exports than Africa |
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Services |
Intangible and growing through outsourcing. Includes financial services, communications and infrastructure. Replicates Merchandise global flows- Europe is largest services exporter |
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Capital |
Flows of money- intangible- floes opposite direction to Merchandise and Services. Also intangible. Includes financial assets and FDI |
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Inter-regional trade |
Flow of international trade among major world regions such as Europe and North America (EU and USA world's largest trading partners by Merch. 30% of global trade flows)- comparative advantage |
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Intra-regional trade |
Flow of international trade within a major region such as Europe and Asia. UK reliant on EU for 75% food and non alcoholic drinks (2014) |
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HDI |
Human development index- positive relationship between trade and human development |
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Global supply chains |
Involve flow of materials, information and finance in network of customers, suppliers, manufacturers and distributors. |
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Global value chains |
Where value is added to the product by the processes at each stage |
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Communications and technology |
Businesses can contact producers and customers along supply chains quickly and easily. Facilitates basic services such as finance. But in 2012 less than 1% population of sub-saharan Africa had Internet broadband subscription |
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Transport and technology |
Construction of large container vessels and development of deep water ports. Containerisation |
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MNCs |
Multinational companies- dominate world trade- top 500 MNCs account for over 70% global trade. |
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Outsourcing |
India dominates global supply of IT services. Bangalore 40% |
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Trading blocs |
groups of countries relatively close geographically. Purpose to achieve economic benefits for member states through trade policies such as protection |
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South-south trade |
Proportion of S-S trade has more than doubled in last decade. Links emerging markets together. |
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S-S trade value 2013 |
$4.7 trillion |
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S-S China |
50% of China's trade |
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S-S India |
60% India's total trade |
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BRICS |
Brazil Russia India China South Africa |
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BRICS size |
Account for more than a quatre of global land area and more than 40% worlds population |
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Value created by services |
Adds over 30% value to manufactured goods |
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NIDL |
New International Division of Labour- describes global reorganisation of production within last 49 yrs. Associated with advance of MNCs and deindustrialisation |
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Comparative advantage |
Countries specialise and trade in specific things |
