Globalization Flashcards
Multinational co-operations
MNC is any company that does business in foreign countries outside of itself. They most commonly set up their central or main headquarters in their home country and operate warehouses and distribution centers in foreign countries.
Examples of MNC companies?
Apple, Amazon, FedEx, Ebay, Digicel, Scotiabank and Nestle
What does capital and labor mean in terms of Geography.
Capital means goods, valuables, money and etc.
Labour means work
Definition of Globalization
A group of processes that build connections between places, societies and individuals around the globe through trade politics and cultural exchange with the help of technology and transportation
What is free movement of labor?
The free movement of labor refers to the right workers have the look for work in a separate country without a visa. This is a part of the EU
Advantage of free movement of labor
It can lower the pace of unemployment growth.
Advantage of free movement of capital
It enables an efficient cross-border deployment of physical and financial capital for investment and financing purposes.
Standard of living
The amount of wealth and material comfort for a person or a community
How does a country’s standard of living affect the people of that country?
It impacts the region’s population’s income, employment opportunities, life expectancy, cost of goods and services and poverty.
What are global links
The Global Links indicators provide an overview of the flows and associations that enable the world’s economy and the economies of individual countries to grow and expand.
What are international markets
An international market is any geographical region where a company conducts business that is outside the territorial boundaries of a company’s home country, while a domestic market is within the boundaries of its home country. An example of a international market would be coco-cola
How have global links via the internet have opened up international markets for business?
Global links via internet have affected the international markets for business by making it easier to collect data for other businesses. since the internet customers from across the world can get data easier and more efficient data that is more valid to the company .
What is regional integration
Regional integration is the process by which two or more nation-states agree to co-operate and work closely together to achieve peace, stability and wealth.
What does regional integration do?
Regional integration assists countries in overcoming barriers to the free flow of good and services, capital, persons, and ideas. Divisions impede economic growth, particularly in developing countries. When small nations come together through regional integration they are able to increasing their resilience and scale, as well as increasing their bargaining power on the global stage. If regional integration enhances and accelerates the nation will improve. Regional integration can be promoted through: Trade, investment and domestic regulation, Transport, ICT and energy infrastructure, Macroeconomic and financial policy, The provision of other common public goods
How does Globalization offer opportunities for organized criminals
Globalization offers opportunities to organized criminals due to the supply and demand of the whole world. This has led to criminals running black markets all around the world while taking advantage of the fact that the world’s supply and demand have drastically increased.
