1. Global Change Our Changing World

2. Key Terms The integration of the world’s economy and culture through the mass consumption of mainly Western culture, technology and trade Globalisation A term used to describe how the world appears to be getting smaller through advances in technology, especially technologies that allow the transfer of information Global village Large companies that operate in a number of countries but generally have their headquarters in one of the countries of the developed world Transnational corporations (TNCs)

3. What is driving globalisation? Advances in transport and communications technology The growth of transnational corporations (TNCs) Expansion of world trade International investment

4. What is driving globalisation? Movement of goods and services between countries Money moving into and out of countries Individual, government and business investment, loans and repayments Very large companies that operate in a number of countries Business links of TNCs Bulk carriers, oil tankers & container ships Aviation (Boeing 747) Internet & email Advances in transport and communications technology The growth of transnational corporations (TNCs) Expansion of world trade International investment

5. Key Terms The growing number of commercial links between companies and firms Economic Integration The increasing linkages and similarities between world cultures Cultural Integration A world dominated by the consumption of the products of popular culture Mass consumer culture Mainstream culture; usually associated with ‘lighter’ forms of entertainment Popular culture

6. What is economic integration? Global trade Fast rate of change in international trade TNCs largely responsible (account for around ¼ of all goods and services produced globally Global migration The movement of workers between countries Global investment Rapid growth of foreign investment between countries 80% of flow of investment funds between developed countries Global finance Eg from TNCs operating in different countries, money from overseas trade & investors

7. What is cultural integration