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Edexcel A Level Geography > Globalisation Keywords > Flashcards

Globalisation Keywords Flashcards

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1
Q

Globalisation

A

the international flow of people, information and capital

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2
Q

Space time compression/shrinking world

A

the time it takes to travel over a certain distance is significantly decreased (compressed), therefore distance means nothing, as a result of advanced transport. Physical distance remains the same, but begin to feel closer. Can be uneven.

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3
Q

Spatial division of labour

A

different stages of the production process are nationally or internationally distributed

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4
Q

International Monetary Fund (IMF)

A

help governments balance their payments during economic difficulties by granting loans to member countries

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5
Q

WTO

A

encourages liberalisation of trade, as there are less trade barriers (taxes/tariffs).

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6
Q

World trade blocs

A

Reductions in taxes/tariffs and more standardisation of products. Money flows are controlled and they determine workers rights and movement of people. Econ integration leads to political integration.

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7
Q

Protectionism

A

tariffs on imports to allow own country’s industries to grow without competition

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8
Q

Tariffs

A

additional taxes on an import

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9
Q

Supranational

A

power that goes beyond national boundaries (e.g. decision making in the EU)

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10
Q

Foreign Direct Investment (FDI)

A

controlling ownership of a business or properties by a foreign organisation

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11
Q

Free market liberalisation

A

removal of barriers between countries to encourage free trade (free trade policies)

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12
Q

Special Economic Zone (SEZ)

A

area of land set aside to encourage FDI and economic growth with tax free policies. Encourage TNC investment and business start ups.

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13
Q

Subsidise

A

support financially e.g. provide money/loans/tax breaks for potentially unprofitable businesses (gives econ boost to certain sectors)

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14
Q

Indicators

A

Categories that can make up an index e.g. tourism, trade, FDI

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15
Q

Indices

A

Way to measure something using a set criteria e.g. KOF, HDI

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16
Q

Glocalisation

A

when a product/service is developed and distributed globally, but adjusted for local markets. Adhere to local regulations.

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17
Q

Outsource

A

to get another company to provide part of the supply chain; no need to pay for/repeat something that another company is already doing

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18
Q

Offshore

A

move operations to another country (e.g. to China for cheap labour)

19
Q

Horizontal integration

A

business grows by acquiring a similar company at the same point in the supply chain (increases production of goods/services)

20
Q

Vertical integration

A

acquiring a similar company in the industry before or after them in the supply chain

21
Q

Switched off

A

Shallow/extremely low level of globalisation that is unlikely to increase.
Lack strong flows of trade and FDI, not integrated into global economy

22
Q

Global economic centre of gravity

A

Main region where large sections of supply chains are based and most manufacturing happens

23
Q

Deindustrialisation

A

Decline in manufacturing because of global shift

24
Q

RUM

A

Movement due to economic and social conditions

Push/pull factors e.g. jobs, healthcare, education, income, safety

25
Q

Megacity

A

City with a population of more than 10 million people

26
Q

Interdependence

A

Two countries/places rely on each other

27
Q

Mass low-wage economic migration

A

Relied on by emerging countries as they globalise

Migrate to emerging countries to receive wage and some sent back home as remittance

28
Q

Culture

A

System of meanings shared by a group of people leading to a common influence

29
Q

Global culture

A

Very similar culture around the world based on Western countries, overwhelming local/original cultures (can lead to cultural erosion)

30
Q

Cultural diffusion

A

One culture spreading into another, slowly replacing it (often through globalisation)
Can be achieved through legal/military coercion

31
Q

Cultural dilution

A

Disappearance of local traditions/languages/services

Pushing out local industries

32
Q

HDI

A

GDP, life expectancy, literacy, years of schooling

33
Q

Soft power

A

powerful wealthy states shaping global culture through disproportionate large influence over global media/entertainment

35
Q

Lorenz Curve

A

Wealth distribution through the population

The closer it is the the equality line, the fairer the country is

36
Q

Diasporas

A

Communities of migrants that arrive in new countries all over the world

37
Q

Extremism

A

A viewpoint that doesn’t acknowledge alternatives, possibly resulting in aggressive behaviour e.g. anti-immigrant groups in Germany

38
Q

Trade protectionism

A

Trade barriers promote buying from domestic companies

Believe it protects economy, standards of living and main culture

39
Q

Impacts of a consumer society

A

Fast fashion and carbon emissions when transporting products

40
Q

Transition towns

A

When a town transitions away from globalisation and tries to become more ethical and sustainable
Localised but rely on global knowledge scheme, and ideas come from different towns and countries

41
Q

Gini Coefficient

A

Ratio between the two areas of a Lorenz Curve

The closer it is to 0 the more equal it is

42
Q

Externality

A

something that is produced externally to the process (and the consequence of actions that are not paid for e.g. buy products from China, but don’t pay for poor health from pollution)

42
Q

Organic products

A

Higher price for no pesticides

But farmers aren’t paid more, as it covers cost of being environmentally friendly

43
Q

Recycling

A

Reusing and reprocessing manufactured goods

44
Q

Circular economy

A

Shifting production cost/waste onto manufacturers e.g. leasing

Edexcel A Level Geography (15 decks)

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