Globalisation Key Words Flashcards
China’s Open Door Policy
State the date
What is it?
1978
China allows foreign industry and TNCs in, to promote a modern and thriving China.
Containerisation
A logistical system of transporting goods, in containers on ships etc.
Each able to carry large amounts of goods.
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 regions in prosperity, the periphery regions will too due to their links with the core
Deindustrialisation
+ Example and approaches taken to fix it
The mass closure of industries in regions traditionally associated with secondary industrial production such as manufacturing… Also features high unemployment levels. Partly due to global shift in production from developed to developing countries.
Example:
Northern England, begun fracking as an approach to combat the unemployment. But due to earthquakes and other issues was stopped.
Detroit/Rustbelt of USA, poor approach to boost employment, led to rise in crime, house prices dropped… Negative equity trap! = Buy a home with mortgage, but home drops in price so mortgage is then not repayable through sale… essentially trapping them in set location
Diaspora
The movement of a population away from their homeland. Can be both forced or voluntarily.
Downward transitition zones
An area with predicted economic decline, industrial reduction or switched off from globalisation
Economic migration
Movement of migrants to improve financial income or standard of living
Foreign Direct Investment (FDI)
A investment by one country or business with an interest in another country
Global Hubs
A location that is well connected within many networks to other key locations in the world, often TNCs and FDI will focus here.
Globalisation
The growing economic interdependence of countries worldwide through increased volume and variety of cross border transactions in goods or services, freer international capital flows, and more rapid and widespread diffusion of tech. Also shown through culture, lifestyles, and global processes such as climate change and natural disaster impacts.
Glocalisation
Adapting global goods or services to meet the needs of local people e.g McDonalds beef/pork substituted with alternatives, due to religious reasons.
