4.1 - Globalisation
4.1.1 - Growing Economies
a) Growth rate of the UK economy compared to emerging economies b) Growing economic power of countries within Asia, Africa and other parts of the world c) Implications of economic growth for individuals and businesses:
China Rises
The video below is a documentary (full length) about the emergence of China as what will be the largest economy in the world and looks at how this has happened. China vs India
This video clip explains some of the competition between India and China, 2 of the largest and fastest growing economies in the world. |
Sam Floy
Visit this website to find out a little about doing business in East Africa from Sam Floy, an ex student of mine who is now an entrepreneur who has launched online businesses in the UK and is now looking to do the same in Uganda/Kenya/Ethiopia. |
4.1.2 - International Trade and Business Growth
a) Exports and imports b) The link between business specialisation and competitive advantage c) Foreign direct investment (FDI) and link to business growth Absolute and Comparative Advantage
The clip below explains the benefits that countries (and firms) can achieve by specialising and trading. |
Why Do Countries Trade?
This video looks at some of the fundamental reasons behind international trade. |
4.1.3 - Factors Contributing to Increased Globalisation
a) Reduction of international trade barriers/trade liberalisation b) Political change c) Reduced cost of transport and communication d) Increased significance of global (transnational) companies e) Increased investment flows (FDI) f) Migration (within and between economies) g) Growth of the global labour force h) Structural change
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Reasons For Increased Globalisation
The video below outlines some of the key reasons for the increase in globalisation over the past century. |
4.1.4 - Protectionism
a) Tariffs b) Import quotas c) Other trade barriers:
The Economist interview above outlines some of the issues that American businesses are likely to face under the Trump administration trade policies.
The video below explains the concept of mercantilism, which is mentioned in the Economist interview. Worth a look if you want to understand some of the original ideas surrounding international trade. |
Free Trade: Good or Bad?
The video above outlines some of the key arguments related to free trade and its merits. This quiz from Tutor2u.net is useful to check your understanding of the basics. Trump on Mexico The video below is a news clip from 2017 which shows some of the impacts that Donald Trump's protectionist policies have had on businesses in the US and Mexico. |
4.1.5 - Trading Blocs
a) Expansion of trading blocs:
NAFTA: Good For America?
The clip below runs through some of the key pros and cons of NAFTA in practical terms. What is ASEAN?
This explains the history and relevance of ASEAN. |
UK Business in the EU
The video below runs through the impacts of EU membership (or lack of membership) on UK businesses. Brexit: A Hew Hope?
The FT video below looks at some of the real consequences of Brexit for UK firms. |