Globalisation Key Words & Phrases Flashcards
What is sustainability?
Meeting the needs of the current generation without compromising the ability of future generations to meet their own needs.
What is a cartel?
A group that controls the majority of a commodity.
What are trade blocs?
Groups of countries which encourage trade within their members by removing tariffs for members and creating barriers to outsiders.
What is economy of scale?
When an a organisation becomes more efficient the larger it is.
What is the core?
The most developed and highly populated region of a country. Growth is fuelled by flows and labour resources from the periphery (less developed regions).
What does it mean to be ‘switched on’?
When nations/regions/cities are strongly connected to other places through the production and consumption of goods and services.
What is global shrinkage?
Space/time convergence.
How are countries interconnected?
Through links driven by trade, migration, technology, politics and culture.
Define interdependent.
When places are dependent on each other, and what happens in one place affects other places.
Define globalisation.
The integration of the global economy involving the growth and spread of ideas, goods, capital, people and services around the world.
What is capitalism?
An economic system and a mode of production in which trade, industries, and the means of production are largely or entirely privately owned and operated for profit.
What is carbon trading?
A market-based approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants.
What characteristics are associated with a consolidating city? Give an example of one.
Rapid growth, high proportion of informal employment and some slum improvements. E.g. Dharavi slums, Mumbai, India.
What is cultural homogenisation?
A reduction in cultural diversity as a result of globalisation.
What is e-waste?
Discarded electrical devices. Difficult to dispose of sustainably.
What is the Fair Trade Movement?
The movement whose stated goal is to help producers in developing countries achieve better trading conditions.
What are flows?
What passes between hubs and nodes; people, investment, raw materials, culture, disease, services, information and goods.
What are food miles?
The distance food is transported from the time of it’s production until it reaches the consumer.
What is free trade?
A policy in international markets where governments do not restrict imports or exports through devices such as subsidies or tariffs. E.g. The EU
What is G8?
A group of leading advanced economies who meet periodically to advance their common political, economic and social goals.
What is global shrinkage?
Refers to the ‘Death of Distance’ by Frances Cairncross; the idea that globalisation reduces the effect of physical distance on the free movement of people and trade.
Define glocalisation.
Products and services that are developed and sold internationally but designed so that they suit the needs of local markets.
What are green taxes/ Ecotaxes?
Taxes that intend to promote eco-friendly activities through economic incentives.
What is horizontal integration?
When a company acquires competitors in the same industry.
What are hubs?
Well-connected nodes.
What is an IGO?
Inter Governmental Organisation
What are characteristics of an immature city? Name an example.
Very rapid growth, very high proportion of informal employment, uncontrolled slum growth. E.g. Lagos, Nigeria
What is the ITU?
International Telecommunications Union. A UN agency that promotes communication.
What are LDCs?
The 48 Least Developed Countries with the highest levels of economic vulnerability.
What are the characteristics of a mature city? Name an example.
Reduced growth, lower proportion of informal employment, slum regeneration. E.g. São Paulo, Brazil.
What is a megacity?
A city with more than 10 million inhabitants.
What is NAFTA?
The North American Free Trade Agreement. Incl. USA, Mexico and Canada.
What is an NIC?
Newly Industrialised Country.
What are nodes?
Connection points between flows.
What is OECD?
An international economic organisation of 34 countries set up to stimulate economic progress and world trade.
Define protectionist.
An economic policy of restraining trade between states through methods such as tariffs on imported goods or restrictive quotas.
Define spatial division of labour.
Shift of manufacturing industries from advanced capitalist countries to developed countries.
What is a subsidy?
A form of financial aid or support extended to an economic sector or business generally with the aim of promoting economic and social policy (such as reducing unemployment.)
What is a tariff?
A tax on imports or exports.
What is telecommuting?
Working from home but accessing the company network across the internet.
What does a ‘two speed world’ refer to?
The way that globalisation has benefited some countries much more than others in terms of economic development and advances in quality of life.
Define urbanisation.
The increase in the proportion of people living in urban areas compared to rural areas.
What is vertical integration?
When a company acquires it’s supply chain.
What is the WTO?
World Trade Organisation. An IGO which seeks to regulate world trade.
