Globalisation Key Words Flashcards
What are TNC’s?
Transnational Corporations
What are complex spatial divisions of labour?
Splitting up a complex, productive task into a number of simpler, smaller tasks
What are Trading blocs?
(ie EU, NAFTA)
groups of countries that come together to form agreements to promote trade and economic cooperation
What is Free trade?
A trade policy that reduces tariffs, allowing for cheaper import and export between 2 or more countries
What is Credit Crunch?
A sudden reduction in loans or amount of credit available from banks
What is the IMF?
International Monetary Fund
What is the WTO?
World Trade Organisation
What is Glocalisation?
What is Hybridisation?
What is wage stagnation?
lack of increase in wages
What is Homogenization?
The reduction of cultural diversity through popularization + spread
What is Sovereignty?
Supreme power or authority
What is Democratic accountability?
The ability to hold governments and people in power accountable for mistakes and injustices
What are Diaspora Communities?
Groups of people who don’t live in their country of origin but maintain their heritage elsewhere
