; EQ1- China CD- keywords Flashcards
Globalisation
The increasing integration of economies around the world , particularly through movement of goods, services and capital across borders
What are the 4 main strands of globalisation?
Political, economic, cultural, social,
Identify four of the main global flows
Technology ,transport, trade and media
Define protectionism;
Policies put in place to protect businesses and workers in a country by restricting/regulating trade with nations
Define subsidy;
Financial assistance to businesses by gov’s to make it competitive or prevent collapse
Define neoliberalism;
Political philosophy of free markets,free trade, privatisation and increasing the role of businesses in society
What are SAP’s?
economic policies for developing countries that have been promoted by TWB and IMF by the provision of loans, conditional on the adoption of such policies
Define trade bloc’s
Voluntary international organisations that exist for trading purposes, bringing greater economic strength and security to nations that join
Define TNC’s
Firms with operations in more than 1 country
TNC example; BMW,German TNC outsources component production to how many suppliers for the mini engine ?
2500 different suppliers and engines are made by Brazilian suppliers cuz wage rates are lower and wind screens are imported from France due to trade free of tariffs within the EU
Give one example of what can happen if TNC’s have a poorly monitored GPN?
It can damage corporate profits and image - 2013 - Tesco discovered its Romanian suppliers were mixing horse meat into budget beef burgers- outrage sparked by customers and sales dropped
Give one case study example of the Drawbacks of TNC’s having a GPN
2011- JAPANESE TSUNAMI halted component supplies to offshore Nissan factory in SUNDERLAND.
Define glocalisation
Changing the design of products to meet local tastes or laws
Define global shift
The movement of manufacturing from Europe and the USA to many Asian countries
When did China begin with its radical ‘open door’ reforms?
In 1978
Name some coastal SEZ’s where TNC’s we’re quick to establish branch plants or trade relationships ?
Shenzhen, Shanghai, xhongqi
CHINA; nowadays how much of China’s GDP is being generated in SEZ’s?
SEZs have contributed 22% of China’s GDP, 45% of total national foreign direct investment, and 60% of exports. ,estimated to have created over 30 million jobs.
CHINA; investment in transport infrastructure as result of GS ; by 2016 what had China achieved?
Developed a 100,000 km rail system that linked all cities and provinces in China
Built 82 airports since 2000
How much of chine population will be classed as urban middle class by 2022?
45%
How many in China have escaped poverty?
800 million in China alone
How has the disposable income per capita of urban residents in China changed?
In 1979- $60
2020 - $6,000
When did the Chinese buy more tv’s and laptops than Americans ?
2013
is there a big rural-urban divide in China?
Yes, 20% of Chinas population still live on less than $2 per day and cope due to payments sent home by urban family members as remittance payments
What percentage of the Chinese over the age of 15 are now literate?
96% in 2015 whereas in 1930 this was at 20% and in 1980 this was at 60%
COSTS OF GROWTH DUE TO GS;
How many suicides since 2010 by foxconn workers?
14 since 2010
Foxconn CEO Terry Guo’s quote on leading?
“A leader must be a dictator for the common good”
Define GDP
A measure of the financial value of goods and services produced within a territory (including foreign firms located there). It is often divided by population size to produce a per capital figure for the purpose of making comparisons
Define emerging economies
Countries that have begun to experience high rates of economic growth,usually due to rapid factory expansion and industrialization e.g; BRICS
