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Globalisation involves widening and deepening global connections, interdependence and flows (commodities, capital, information, migrants and tourists).

Globalisation is the increase in interconnectedness between places through increases in flows of commodities, capital, information, migrants and tourists (KEY DEFINITION). This definition underpins this entire topic, and you will more likely than not have to use it in an essay for your exam.

Globalisation involves the widening and deepening of these flows. As a result, countries become more interdependent. This means that economic shocks to one economy will have an impact on many others too. For example, in 2011 after the Tōhoku tsunami in Japan, the disruption to factories, ports and trade led to the closure of the Nissan factory in Sunderland for 3 days.

Commodities are goods and services which countries may purchase from one another.

Capital is the flows of money between consumers, firms and governments.

Information is all of the data transferred between entities, which is heavily facilitated by the internet.

Migrants and tourists are the flows of people between places.

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