Globalisation Flashcards
Revision - Definitions
TNC
Companies that operate in multiple countries, locating their headquarters, production and sales in different countries
Globalisation?
The increasing interconnectdness between countries
Glocalisation?
When companies adapt their products to meet the needs and wants of local consumers that have cultural differences
Cultural diffusion?
The spread of one culture to another. Examples like music, clothes, food and tradition
FDI?
Foreign direct investment- an investment from one country into the structure, equipment or organisations of another country
Trade bloc
A group of countries that work together to provide special deals for trading
World trade organisation?
International organisation dealing with the rules of trade between nations
NGO?
An organisation that focuses on humanitarian issues, social problems with a political aspect
Free market Liberailsation?
Removal of the influence of state in the economy and allow the markets to act more freely
KOF Index?
A score each country is given out of 100, the higher the number the more globalised the country is. Measures: economic, political and social
AT Kearney Index?
Index includes political engagement, technological connectivity, personal contact and economic integration
A global hub?
A highly globally connected city
Mega cities?
A city with over 10 million people
Economic migration?
People who have moved for voluntary reasons of work and improved quality of life
Diaspora?
People displaced from their homeland, voluntarily or forced
Deindustrailisation?
The decline of the manufacturing industry in a place
Cultural Erosion?
When one culture is slowly replaced by another culture
Containerisation?
A system of freight transport for use in sea shipping that has reduced the transport costs of moving thousands of different goods across the globe
China’s open door policy?
the economic policy initiated in 1978 to open China to foreign businesses that wanted to invest in the country
Offshoring?
The process of moving business processes or work functions to another country in order to save money and increase efficiency
Outsourcing?
Where a TNC gives a contract to another company to complete part of their work
