Globalisaton (2) Flashcards
Global Production networks
A chain of connected suppliers of parts and materials that
contribute to the manufacturing or assembly of the consumer goods
Least developed countries
the worlds very poorest low-income nations
whose populations have little experience of globalisation.
described as “failed states” by politicians
Subsidies
grants/finance given by governments to increase the profitability of key industries
Just-in-time
means by which the time gap between production and delivery to the customer is sharply reduced- cutting warehousing and storage costs
New Economy
where GDP is earned more through expertise and creativity in services such as finance, media , law, technology and management
than from the manufacturing of goods
Glocalise / glocalisation
when a company restyles its products to suit local tastes
Human development index
single index figure
published by the United Nations(UN) each year
expresses the levels of education, health and
GDP indicators for every country
World cities or hub cities
cities with a major influence based on; finance law political strength innovation and ICT
Source location
places from which migrants move
Host location
places to which migrants move
Capitalism
a belief in a market economy
where people are free to set up businesses and keep the profits and
where supply and demand determine the prices of goods and services
Communism
a belief in a communal wealth for a classless society.
property is owned communally and wealth is distributed equally
The state owns or controls most land, as well as the banks, natural resources and the media
Ecological footprint
measure of the land area and water reserves that a population needs in order to produce what it consumes using current technology
Deindustrialisation
The decline of regionally important manufacturing industries
either in terms of workforce numbers or output and production
internal migrant
someone who moves from place to place inside the borders of a county,
globally most internal migrants move from rural to urban areas
in developed world - move from urban to rural areas too
