global systems and global governance

Question 1

Globalisation

Answer 1

the process of the worlds economies, political systems and cultures becoming more strongly connected to each other

Question 2

What causes globalisation?

Answer 2

the movement of information, capital, products services and labour between different countries

Question 3

international trade

Answer 3

the exchange of capital, goods and serviced across international borders

Question 4

BRIC

Answer 4

BRAZIL RUSSIA INDIA CHINA - Economies who have rapidly advanced since the 1990’s

Question 5

MINT

Answer 5

MEXICO INDONESIA NIGERIA TURKEY - Emerging economies

Question 6

Leakages

Answer 6

refers to a loss of income from an economic system. E.g. profits sent back by TNCS.

Question 7

Diaspora

Answer 7

large group of people with similar homeland who have moved in and settled in places all over the world

Question 8

FDI

Answer 8

Foreign direct investment

Investment made mainly by TNCS based in one country into the physical capital or assets of FOREIGN enterprises

Question 9

repatriation of profits

Answer 9

TNCS investing overseas will take profit made back to home country

Question 10

remittance payments

Answer 10

transfers of money made by foreign workers to family in their home countries

Question 11

what country has the highest remittance payments

Answer 11

india

Question 12

containerisation

Answer 12

system of standardised transport that uses steel containers to transport goods

Question 13

protectionism

Answer 13

policy by government to impose restrictions on trade in goods and services with other countries

Question 14

tariffs

Answer 14

tax placed on imported goods

Question 15

conglomerates

Answer 15

collection of diff companies or orgaisations which may be involved in different activities but all report to one parent company

Question 16

economies of scale

Answer 16

cost advantages that result from larger size output or scale of an operation

Question 17

NAFTA aims

Answer 17

eliminate trade barriers, promotion of economic competition, co operation between member states

Question 18

who’s part of NAFTA

Answer 18

USA, Canada and Mexico

Question 19

bilateral agreement

Answer 19

an agreement or trade that is negotiated between 2 countries or 2 groups of countries

Question 20

common markets

Answer 20

a group formed by countries in geographical procximity in which trade barriers for goods and services are eliminated

Question 21

custom unions

Answer 21

free trade with member states but tariffs to non members

Question 22

multilateral agreement

Answer 22

agreement between more than 2 countries or groups of countries

Question 23

outsourcing

Answer 23

cost saving strategy where goods are produced by other companies in locations where costs are cheaper

Question 24

agglomeration

Answer 24

when companies in similar industries locate near each other because of the benefits gained by sharing ideas and resources

Question 25

multiplier effect

Answer 25

initial injection of investment or capital into an economy in turn creates additional income by increasing employment wages etc

Question 26

global commons

Answer 26

areas that lie out of the political reach of any one nation state - aren’t owned by any country or organisation

Question 27

what are the global commons

Answer 27

outer space, atmosphere, high seas and Antarctica

Question 28

global governance

Answer 28

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

Question 29

NGO’S

Answer 29

any non profit groups with common interest

Question 30

united nations

Answer 30

international organisation made up of 193 member states whose aim is to promote international peace and co-operation

Question 31

antarctic convergence

Answer 31

a curve continuously encircling Antarctica where cold northward flowing waters meet warmer waters