Globalisation Flashcards

1
Q

Globalisation

A

The process whereby the world is becoming increasingly interconnected and interdependent through trade and travel

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Thomas Friedman “The world is flat”

A

1492-1820: Driven by countries
1820-2000: Driven by companies
2000-present Driven by individuals

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Free Trade Blocs

A

Groups of countries that allow free flow of goods and money, eg the EU

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Offshoring

A

TNCs producing in low wage economies and shipping to HICs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Foreign mergers

A

2 firms from different countries merge

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Foreign aquisitions

A

A TNC taking over a foreign company, often hostile

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

KOF index

A

Measure of globalisation, compares countries (mainly by economic factors)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

AT Kearney Index

A

Measures globalisation of cities by business activity, information exchange, cultural experience, political engagement and human capital

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Outsourcing

A

A TNC pays a foreign country to fulfill a job for them (production)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Global Production Networks

A

Chains of production through multiple countries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Glocalisation

A

When a TNC adapts its product to suit local culture

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

IMF (International Monetary Fund)

A

-Loans to nations if they accept free market economics
-Can mean cuts on education, healthcare etc

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

World Bank

A

-$470m to Philippines for poverty reduction 2014
-All presidents have been American

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

WTO (World Trade Org)

A

-Advocates for trade liberalisation
- China removed restrictions on rare earth minerals 2014

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Switched on

A

-Large labour force
-Good infrastructure
-Govt support of TNCs
-Political stability
-Coastal
-Natural resources

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Switched off

A

-Corruption
-Censorship
-Natural disasters
-Debt
-Poor infrastructure
-Landlocked

17
Q

Rural-urban migration in Dharavi (Mumbai slum)

A

-People migrate for jobs, better education, healthcare etc
-700k people
-500 people per toilet
-Mass plastic pollution

18
Q

Cultural diffusion

A

The spread of one culture into another

19
Q

Cultural homogenisation

A

How cultures are becoming increasingly similar.
eg Americanisation with music, movies, TNCs

20
Q

Diaspora

A

Community who share a national/ethnic identity living away from their homeland

21
Q

Censorship

A

Restricting information from being exposed to the public. Restricts political, social and cultural globalisation.

22
Q

Localism

A

Prioritising local success rather than regional or global.
-Wapping Wharf with only local independent businesses (CARGO 56 shops)