Globalisation definitions Flashcards
China’s open door policy
A 1978 policy where China allows foreign industry and TNCs in to promote a modern and thriving China
Containerisation
A logistical system of transporting goods in steel containers
Cultural diffusion
The spread of cultural beliefs and social activities into different cultures
Cultural erosion
The reduction of a culture due to globalisation
Cumulative causation
Like a multiplier effect- ‘success breeds success’
As the core region increases in prosperity the periphery regions will too, due to their links with the core
Deindustrialisation
A reduction in industrial capacity, leading to social and economic change within a region
Diaspora
‘To scatter about’
People displaced from their homeland, voluntarily or forced
Downward transition zones
A country or city with predicted economic decline, industrial reduction, or switched off from globalisation, such as Scotland, Turkey and Brazil
Economic migration
Movement of migrants to improve financial income or standard of living
Foreign Direct Investment
An investment by one country or business with an interest in another country
Global hubs
Cores that demonstrate connections to the world (through trade, ideas, migration etc)
TNC’s and Foreign Direct Investors will show an interest to base here
Globalisation
The growing interdependence of countries through cross-border transactions (capital, technology, migration, knowledge, culture)
Glocalisation
The adaption of a good offered by a TNC to suit a local market
IMF
International Monetary Fund
- A fund of 189 member countries with the aim to aid each other to achieve financial stability and provide loans for development
KOF
Index of globalisation which takes into account the social, economical and political globalisation of a state
Liberalisation
A reduction in government control within industry, creating opportunity for greater participation from private businesses and TNCs within an industry
Offshoring
Company moves part 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
Privatisation
When national public services become owned by private businesses
Sovereignty
Control over a country’s own laws and regulations
SEZ
Special Economic Zones
- Regions where the government offers incentives to attract industry
TNC
Transnational Company
- A company which operates in different countries to where they are originally based
Trade Bloc
A group of countries that work together to promote trade and a free movement of goods/services between member states
Upward Transition Zones
A country or city with predicted industrial and economic increase, such as Mexico or Iceland
