global systems and global governance Flashcards
Globalisation
the process of the worlds economies, political systems and cultures becoming more strongly connected to each other
What causes globalisation?
the movement of information, capital, products services and labour between different countries
international trade
the exchange of capital, goods and serviced across international borders
BRIC
BRAZIL RUSSIA INDIA CHINA - Economies who have rapidly advanced since the 1990’s
MINT
MEXICO INDONESIA NIGERIA TURKEY - Emerging economies
Leakages
refers to a loss of income from an economic system. E.g. profits sent back by TNCS.
Diaspora
large group of people with similar homeland who have moved in and settled in places all over the world
FDI
Foreign direct investment
Investment made mainly by TNCS based in one country into the physical capital or assets of FOREIGN enterprises
repatriation of profits
TNCS investing overseas will take profit made back to home country
remittance payments
transfers of money made by foreign workers to family in their home countries
what country has the highest remittance payments
india
containerisation
system of standardised transport that uses steel containers to transport goods
protectionism
policy by government to impose restrictions on trade in goods and services with other countries
tariffs
tax placed on imported goods
conglomerates
collection of diff companies or orgaisations which may be involved in different activities but all report to one parent company
economies of scale
cost advantages that result from larger size output or scale of an operation
NAFTA aims
eliminate trade barriers, promotion of economic competition, co operation between member states
who’s part of NAFTA
USA, Canada and Mexico
bilateral agreement
an agreement or trade that is negotiated between 2 countries or 2 groups of countries
common markets
a group formed by countries in geographical procximity in which trade barriers for goods and services are eliminated
custom unions
free trade with member states but tariffs to non members
multilateral agreement
agreement between more than 2 countries or groups of countries
outsourcing
cost saving strategy where goods are produced by other companies in locations where costs are cheaper
agglomeration
when companies in similar industries locate near each other because of the benefits gained by sharing ideas and resources
multiplier effect
initial injection of investment or capital into an economy in turn creates additional income by increasing employment wages etc
global commons
areas that lie out of the political reach of any one nation state - aren’t owned by any country or organisation
what are the global commons
outer space, atmosphere, high seas and Antarctica
global governance
movement of political integration aimed at negotiating responses to problems that affect more than one state or region - how affairs in the whole world are managed
NGO’S
any non profit groups with common interest
united nations
international organisation made up of 193 member states whose aim is to promote international peace and co-operation
antarctic convergence
a curve continuously encircling Antarctica where cold northward flowing waters meet warmer waters
