globalisation

Question 1

what is Containerisation

Answer 1

a logistical system of transporting goods in steel containers

Question 2

what is China’s open door policy

Answer 2

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

Question 3

what is cultural diffusion

Answer 3

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

Question 4

what is cultural erosion

Answer 4

The reduction of a culture due to globalisation.

Question 5

what is 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

What is a downward transition zone ?

Answer 6

a country or city with predicted economic decline , industrial reduction or switched off from globalisation . e.g Brazil / turkey

Question 7

What is economic migration

Answer 7

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

Question 8

what is deindustrialisation

Answer 8

a reduction in industrial capacity , leading to social and economic changes within a region.

Question 9

what is foreign direct investment

Answer 9

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

Question 10

what is a global hub(s)

Answer 10

cores that demonstrate connections to the world ( through trade , ideas, migration) TNCs and FDI will show an interest to base here.

Question 11

what is globalisation

Answer 11

the increased interdependence of countries through cross boundary transactions ( capital , technology , migration, knowledge , culture )

Question 12

What is Glocalisation

Answer 12

the adaption of a good offered by TNC to suit local Market .

Question 13

what is a hyper globaliser

Answer 13

someone who believes that globalisation and cultural diffusion is a positive process , which leads to the formation of a homogeneous culture

Question 14

What do the IMF ( International Monetary Fund ) and the World Bank do

Answer 14

they promote global economic and financial stability as well as lending money to fund development.

Question 15

What is IMF

Answer 15

• the International Monetary Fund , a fund of 189 member countries with aim to aid each other to achieve financial stability and providing loans for development.

Question 16

What are the top three IGOs established after the Second World War .

Answer 16

-The world health organisation (WTO)
-The International monetary fund (IMF)
-The world bank (WB)

Question 17

Define a KOF

Answer 17

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

Question 18

what is Offshoring

Answer 18

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

Question 19

what is Outsourcing

Answer 19

a business contracts outside businesses to complete some of their work with the aim to reduce costs

Question 20

what is Privatisation

Answer 20

when national public services become owned by private businesses.

Question 21

What is a Special economic zone (SEZ)

Answer 21

region where the government offer incentive to attract industry

Question 22

what is a TNC

Answer 22

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

Question 23

what is a Trade bloc

Answer 23

a group of countries that act together to promote trade and a free movement of goods services between members state

Question 24

what is the World Trade Organisation ( WTO)

Answer 24

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

Question 25

Define Liberaisation

Answer 25

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

Question 26

Define Transformationalist

Answer 26

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

Question 27

What is an upward transition zone

Answer 27

a country or city with predicted industrial and economic increase .e.g the Asian tigers.

Question 28

What are the advantages of being apart of a trade bloc

Answer 28

-Bigger markets ( no extra taxes) the uk has a population of 65 million and the Eu has a population of 508 million so uk businesses would benefit from expanding into those countries and sourcing their goods at the best price.
- National firms can merge to form transnational companies .
- Protection from forge in competitors and political stability .

Question 29

What are the disadvantages of being in a trade bloc

Answer 29

-Loss of Sovereignty
-Interdependence
-Compromise and concession.