Globalisation is a major topic of interest within Economic Geography. As with all words ending with 'tion' it is essentially the process of things becoming global. Hence, globalisation is a term associated with economic practices and the allocation of resources encountering new spaces across the world. It is a subject of intense debate about whether it has positive or negative effects on these 'new spaces' and there are many ethical questions that rise from 'globalisation'.
Globalisation and Economic Geography
Since Geography is the science of space and economics is concerned with the allocation of resources among competing forces, Globalisation is completely relevent to Geography. Globalisation devalues space with physical boundaries no longer becoming obstacles for trade and business, hence the term 'Global Village' is used to reflect a shrinking of the world. But the 'Global Village' is a place and that place is everywhere and particularly here - making sense? Well, we live in the global village where we wear clothes made in Indonesia, eat banana's from the carribbean, watch TV from Austrailia and listen to music from Europe.
As Economic Geography deals with the economic disparities over space, and the continuing changes of economies of space, globalisation becomes important to this subject because it is a process that changes economies over space and the way people live their lives. Additionally, global trade can see decisions made in one place have dire repercussions on another. For example a decision in London can affect employment in Shanghei or natural disasters in Peru affect Coffee prices in New York.