globalisation Flashcards
what is Containerisation
a logistical system of transporting goods in steel containers
what is China’s open door policy
1978- China allows foreign industry and TNCs in to promote a modern and thriving in China
what is cultural diffusion
The spread of cultural beliefs and social activities into different cultures .
what is cultural erosion
The reduction of a culture due to globalisation.
what is 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.
what is deindustrialisation
a reduction in industrial capacity , leading to social and economic changes within a region.
what is foreign direct investment
an investment by one country or business with an interest in another country.
what is a global hub(s)
cores that demonstrate connections to the world ( through trade , ideas, migration) TNCs and FDI will show an interest to base here.
what is globalisation
the increased interdependence of countries through cross boundary transactions ( capital , technology , migration, knowledge , culture )
what is a hyper globaliser
someone who believes that globalisation and cultural diffusion is a positive process , which leads to the formation of a homogeneous culture
what is Offshoring
company moves parts of its operations to another country , often to save money.
what is Outsourcing
a business contracts outside businesses to complete some of their work with the aim to reduce costs
what is Privatisation
when national public services become owned by private businesses.
What is a Special economic zone (SEZ)
region where the government offer incentive to attract industry
what is a TNC
a company which operates in different countries to where they are originally based.
