globalisation Flashcards
foreign direct investment FDI
An investment by one country or business with an
interest in another country.
china’s open door policy
1978 - China allows foreign industry and TNCs in to promote a
modern and thriving China.
globalisation
The growing interdependence of countries through cross-border
transactions (capital, technology, migration, knowledge, culture, etc).
glocalisation
The adaptation of a good offered by a TNC to suit a local market
offshoring
Company moves parts of its operations to another country, often to save money.
outsourcing
A business contracts outside businesses to complete some of their work, with the aim to reduce costs.
global shift
The movement of manufacturing and the outsourcing of services from the West to the East
types of globalisation
cultural economic political social
dimensions of globalisation
capital, labour, products, services and information
elite migrants
Generally skilled or very wealthy people, with the ability
to move to global hubs (e.g. London, Paris, New York)
economic migrants
workers who work for very little and are skilled in a particular profession (often construction). Economic migration can fill skills gaps and advance a country’s development
