GLOBALISATION Flashcards
China’s Open Door Policy
1978 - China allows foreign industry and TNCs in to promote a
modern and thriving China.
Containerisation
A logistical system of transporting goods in steel containers (each carrying 25000kg of goods).
Cultural Diffusion
The spread of cultural beliefs and social activities into different cultures.
Cultural Erosion
The reduction of a culture due to globalisation.
Cumulative Causation
Like a multiplier effect, “Success breeds Success”. As the core
regions increase in prosperity the periphery regions will too due to their links with the core.
Deindustrialisation
A reduction in industrial capacity, leading to social and economic change within a region
Diaspora
‘To scatter about’ - People displaced from their homeland, voluntarily or forced.
Downward Transition Zones
A country or city with predicted economic decline, industrial
reduction or switched off from globalisation (e.g. Scotland, Turkey, Brazil)
Economic Migration
Movement of migrants to improve financial income or standard of living.
FDI
An investment by one country or business with an
interest in another country.
Global Hubs
Cores that demonstrate connections to the world (through trade, ideas, migration, etc). TNCs and foreign direct investors will show an interest to base here.
Globalisation
The growing interdependence of countries through cross-border transactions (capital, technology, migration, knowledge, culture, etc).
Glocalisation
The adaptation of a good offered by a TNC to suit a local market.
Hyper-Globaliser
Someone who believes that globalisation and cultural diffusion is a positive process, which will lead to the formation of a homogeneous culture (one ‘super’ global culture).
International Bank for Reconstruction and Development (IBRD) and World Bank Group
Both offer loans and temporary financial assistance to developing countries.
International Monetary Fund (IMF)
A fund of 189 member countries with the aim to aid each other to achieve financial stability and provide loans for development.
KOF
Index of Globalisation which takes into account the social, economic and political globalisation of a state.
Liberalisation
A reduction in government control within industry, creating opportunity for greater participation from private businesses and TNCs within an industry.
Offshoring
Company moves parts of its operations to another country, often to save money.
Outsourcing
A business contracts outside businesses to complete some of their work, with the aim to reduce costs.
Potential Areas of Growth
Regions where future economic development are predicted
due to their undeveloped resources (e.g. Canada, Qatar).
Privatisation
When national public services become owned by private businesses
Sovereignty
Control over a country’s own laws and regulations.
Special Economic Zones
Regions where the government offer incentives to attract
industry.
Transnational Company (TNC)
A company which operates in different countries to where
they are originally based.
Trade Bloc
A group of countries that act together to promote trade and a free movement of goods/services between member states.
Transformationalist
This is the belief that globalisation won’t lead to the formation of a homogeneous culture. Instead, the flow of culture is two-way.
Upward Transitional Zones
A country or city with predicted industrial and economic
increase (e.g. Mexico, Iceland, “The Asian Tigers”).
World Trade Organisationn
Members seek substantial reductions on tariffs and
trade barriers and the elimination of preferences on a mutually advantageous basis.
Global Shift
The global shift is the relocating of the economic centre of gravity to Asia from Europe and NA, over the last 30 years. This means moving manufacturing from EU, Japan and USA to China.
Oligarchy
A small group of people having control of a country or organisation
