GLOBALISATION

Question 1

China’s Open Door Policy

Answer 1

1978 - China allows foreign industry and TNCs in to promote a
modern and thriving China.

Question 2

Containerisation

Answer 2

A logistical system of transporting goods in steel containers (each carrying 25000kg of goods).

Question 3

Cultural Diffusion

Answer 3

The spread of cultural beliefs and social activities into different cultures.

Question 4

Cultural Erosion

Answer 4

The reduction of a culture due to globalisation.

Question 5

Cumulative Causation

Answer 5

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.

Question 6

Deindustrialisation

Answer 6

A reduction in industrial capacity, leading to social and economic change within a region

Question 7

Diaspora

Answer 7

‘To scatter about’ - People displaced from their homeland, voluntarily or forced.

Question 8

Downward Transition Zones

Answer 8

A country or city with predicted economic decline, industrial
reduction or switched off from globalisation (e.g. Scotland, Turkey, Brazil)

Question 9

Economic Migration

Answer 9

Movement of migrants to improve financial income or standard of living.

Question 10

FDI

Answer 10

An investment by one country or business with an
interest in another country.

Question 11

Global Hubs

Answer 11

Cores that demonstrate connections to the world (through trade, ideas, migration, etc). TNCs and foreign direct investors will show an interest to base here.

Question 12

Globalisation

Answer 12

The growing interdependence of countries through cross-border transactions (capital, technology, migration, knowledge, culture, etc).

Question 13

Glocalisation

Answer 13

The adaptation of a good offered by a TNC to suit a local market.

Question 14

Hyper-Globaliser

Answer 14

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).

Question 15

International Bank for Reconstruction and Development (IBRD) and World Bank Group

Answer 15

Both offer loans and temporary financial assistance to developing countries.

Question 16

International Monetary Fund (IMF)

Answer 16

A fund of 189 member countries with the aim to aid each other to achieve financial stability and provide loans for development.

Question 17

KOF

Answer 17

Index of Globalisation which takes into account the social, economic and political globalisation of a state.

Question 18

Liberalisation

Answer 18

A reduction in government control within industry, creating opportunity for greater participation from private businesses and TNCs within an industry.

Question 19

Offshoring

Answer 19

Company moves parts of its operations to another country, often to save money.

Question 20

Outsourcing

Answer 20

A business contracts outside businesses to complete some of their work, with the aim to reduce costs.

Question 21

Potential Areas of Growth

Answer 21

Regions where future economic development are predicted
due to their undeveloped resources (e.g. Canada, Qatar).

Question 22

Privatisation

Answer 22

When national public services become owned by private businesses

Question 23

Sovereignty

Answer 23

Control over a country’s own laws and regulations.

Question 24

Special Economic Zones

Answer 24

Regions where the government offer incentives to attract
industry.

Question 25

Transnational Company (TNC)

Answer 25

A company which operates in different countries to where
they are originally based.

Question 26

Trade Bloc

Answer 26

A group of countries that act together to promote trade and a free movement of goods/services between member states.

Question 27

Transformationalist

Answer 27

This is the belief that globalisation won’t lead to the formation of a homogeneous culture. Instead, the flow of culture is two-way.

Question 28

Upward Transitional Zones

Answer 28

A country or city with predicted industrial and economic
increase (e.g. Mexico, Iceland, “The Asian Tigers”).

Question 29

World Trade Organisationn

Answer 29

Members seek substantial reductions on tariffs and
trade barriers and the elimination of preferences on a mutually advantageous basis.

Question 30

Global Shift

Answer 30

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.

Question 31

Oligarchy

Answer 31

A small group of people having control of a country or organisation