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 a downward transition zone ?
a country or city with predicted economic decline , industrial reduction or switched off from globalisation . e.g Brazil / turkey
What is economic migration
Movement of migrants to improve financial income of standard of living.
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 Glocalisation
the adaption of a good offered by TNC to suit local Market .
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 do the IMF ( International Monetary Fund ) and the World Bank do
they promote global economic and financial stability as well as lending money to fund development.
What is IMF
- 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.
What are the top three IGOs established after the Second World War .
-The world health organisation (WTO)
-The International monetary fund (IMF)
-The world bank (WB)
Define a KOF
Index of globalisation which takes into account the social, economic , and political globalisation of a state.
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.
what is a Trade bloc
a group of countries that act together to promote trade and a free movement of goods services between members state
what is the World Trade Organisation ( WTO)
Members seek substantial reductions on tariffs and trade barriers and the elimination of preferences on a mutually advantageous basis .
Define Liberaisation
a reduction in government rule within industry, creating opportunity for greater participation from private businesses and TNCs within an industry .
Define Transformationalist
the belief that globalisation won’t lead to the formation of a homogeneous culture. Instead , the flow of culture is two-way.
What is an upward transition zone
a country or city with predicted industrial and economic increase .e.g the Asian tigers.
What are the advantages of being apart of a trade bloc
-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 .
What are the disadvantages of being in a trade bloc
-Loss of Sovereignty
-Interdependence
-Compromise and concession.
