Key Terms- Globalisation Flashcards
Trans national corporations
Businesses whose operations are spread across the world, operating in many nations as both makers and sellers of goods and services. Many of the largest are recognisable as global brands that bring in cultural change in the areas they are consumed in.
Gross Domestic Product (GDP)
A measure of financial value of goods and services produced within that country including foreign firms located there.
Emerging economies
Countries which have begun to experience high rates of economic growth, usually due to the rapid factory growth and expansion and industrialisation. There are numerous sub groups to emerging economies (NICS, RICS, BRICS)
Remittances
Money that migrants send home to their families via formal and informal channels.
Interdependency
If two places became over reliant on financial and/or political connections with one another, then they have become interdependent.
Spatial division of labour
The common practice among TNCs of loving low skilled work abroad (or offshore) to places where labour costs are low. This is called the international division of labour.
Intermodal containers
Large capacity storage containers which can be loaded onto ships or trains without the freight being taken out.
Shrinking world
Thanks to technology, distant places start to feel closer and take less time to reach.
Foreign Direct Investment
A Financial injection made by a TNC into a nations economy, either to build new infrastructure, to build new facilities or to acquire or merge with an existing firm already located there.
Trickle-down
The positive impacts of peripheral regions (and poorer people), caused by the creation of wealth in core regions.
Sovereign wealth funds
Government owned investment funds and banks typically associated with China and countries that have large revenues from oil such as Qatar.
Trade blocs
Voluntary international organisations that exist for trading purposes, bringing greater economic strength and security to the nations that join.
Tariffs
The taxes that are paid when importing or exporting goods and services between countries.
Special Economic Zone (SEZ)
An industrial area, often near a coastline, where favourable conditions are created to attract TNCs. These areas include low tax rates and exemptions from tariffs and export duties.
Offshoring
TNCs move parts of their own production process to other countries to reduce labour or other costs.
Outsourcing
TNCs contract another company to produce the goods and services they need rather than do it themselves. This can result in the growth of complex supply chains.
Least developed countries
The worlds very poorest low-income nations whose population have little experience of globalisation. A number of these nations are described as ‘failed states’ by politicians.
Subsidies
Grants given by governments to increase the profitability of key industries.
Just-in-time
The means by which the time gap between production and delivery to the customer is sharply reduced- cutting warehouse and storage costs.
New Economy
Where GDP is earns more through expertise and creativity in services such as finance, media, law, technology and management of manufacturing goods.
Glocalise/Glocalisation
When a company restyles its products to suit local tastes.
Human Development Index
A single index figure, published by the UN each year, which 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
A 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. The decline can be chartered either in terms of workforce numbers or output and production.
Internal migrants
Someone who moves from place to place inside the borders of a county. Globally most internal migrants move from rural to urban areas. In the developed world however, people also move from urban to rural areas too.
Urbanisation
An increase in the proportion of people living in urban areas
Economic migrant
A migrant whose primary motivation is to seek employment. Migrants may have set off in search of better pay, more regular pay, promotion or change of career.
Refugee
People who are forced to flee their homes due to persecution, whether on an individual basis or as part of a mass exodus due to political, religious or other problems.
Intervening obstacles
Barriers to a migrant such as a political border or physical feature e.g a desert or a mountain
Natural increase
The difference between a society’s crude birth rate and rude death rate. A migrant population, such as those found in the developing world mega cities, usually has a high rate of natural increase due to the presence of a large number of fertile young adult and relatively few older people.
Centripetal migration
Movement of people directed towards the centre of urban areas.
Brownfield site
Abandoned or derelict urban land previously used by commercial or industrial companies.
Cultural traits
Culture can be broken down into individual component parts, such as the clothing people wear or their language.
Cultural imperialism
The practice of promoting the culture/language of one nation over another.
Soft power
The global influence a country derives from its culture, it’s political values and diplomacy. Much of USAs soft power has been created by ‘Hollywood, Harvard, Microsoft and Michael Jordan’
Cultural landscape
The landscape of a place that has been shaped over time in characteristic ways by the combined action of natural and human processes.
Absolute poverty
When a persons income is too low for basic human needs to be met, potentially resulting in hunger and homelessness.
Millennium Development Goals
Eight specific goals for the global community created at UN Millenium Summit in New York in 2000
Relative poverty
When a persons income is too low to maintain the average standard of living in a particular society. Asset growth for very rich people and lead to more people being in relative poverty.
Informal sector
Unofficial forms of employment that are not easily made subject to government regulations or taxation.
Post accession migration
The flow of economic migrants after a country has joined the EU.
Diaspora
The dispersion or spread of a group of people from their original homeland
Crude birth rate
The number of live births per 1000 people per year.
Nationalist
A political movement focuses on national independence or the abandonment of policies that are viewed by some people as a threat to national sovereignty or national culture.
Post-colonial migrants
People who moved to European Countries from former colonies during the 50s, 60s and 70s. The UK recieved economic migrants from the Caribbean, India, Pakistan Bangladesh and Uganda.
Net migration
The overall balance between immigration and emigration
Consumer society
A society in which the buying and selling of goods and services is the most important social and economic activity.
Water footprint
A measure of the amount of water used in the production
Carbon footprint
The amount of carbon dioxide produced by an individual or activity.
Food miles
The distance food travels from a farm to the consumer.
Transition town
A settlement where people and businesses have adopted the bottom up initiatives with the aim of making community more sustainable and less reliant on global trade
Ethical purchase
A financial exchange where the consumer has considered the social and environmental costs of the production for food, goods or services purchased.
