globalisation key words definition Flashcards
commodities?
raw materials
cultural diffusion?
the spread of one culture to another by various means (westernisation)
cultural erosion?
the changing and loss of culture in an area, such as the loss of language and traditional food
deindustrialisation?
the decline of manufacturing industry in an area
depopulation?
when the population of an area declines
elite migrants?
skilled, wealthy migrants, often experts in finance and investment
export processing zones?
used instead of special economic zones. describes an area set up by national governments to offer financial or tax incentives to attract FDI
Foreign direct investment (FDI)
overseas investment made by a company or organisation which is based in another country
free enterprise?
when companies operate in competition with each other, with minimal government control
gini coefficient?
a measure of inequality which considers how far wealth distribution within a country deviates from perfect equality
global homogenisation?
the idea that everywhere is becoming the same
global shift?
the movement of manufacturing from Europe and the USA to many Asian countries
globalisation?
the process by which people, culture, finance, goods and information transfer between countries with few barriers
glocalisation?
when a company adapts their products to suit local tastes
gross domestic product?
the same as gross national income, but excluding foreign earnings
gross national income?
the value of goods and services earned by a country (excluding overseas earnings), formerly known as gross national product
Human Development Index?
a measure of development which takes into account life expectancy, education and GDP for every country and converts them into a value between 0 and 1
time space compression?
the concept that communication technologies have massively reduced the time it takes to trade and communicate globally, therefore even though the physical distances are unchanged, the time taken to cross them is significantly lower
trade liberalisation?
the removal of trade barriers such as subsidies, tariffs and quotas
trading blocs?
when countries have grouped together to promote free trade between them. The EU is an example of a trading bloc
world bank?
a global organisation which uses bank deposits placed by the world’s wealthiest countries to provide loans for development in other countries
world cities?
cities with major influence, based on: finance, law, political strength, innovation and ICT
world trade organisation?
a global organisation which looks at the rules for how countries trade with each other
