Unit 1 Flashcards
Globalization
The process of global connection and trade spreading and growing around the world and how the world has become more interconnected as a whole via resources, goods, services, culture, etc.
Interdependence
How most, if not all, of the world has become dependent on each other and trade, for resources, goods, services, etc. This assists in advancements in technology but also coi result in acculturation, and further, assimilation of cultures altogether.
Glocalization
A global good or service that is traded around the world, but is adapted uniquely depending on the place and culture in which it is distributed.
Political
(Dimensions of Globalization)
Trade that is done for the purpose or goal of a local or federal government.
Economic
(Dimensions of Globalization)
Trade that is done for the benefit of a local, federal, or global economy.
Social
(Dimensions of Globalization)
Trade that is done to advance technology in the form of local or global communication and community.
Environmental / Ecological
(Dimensions of Globalization)
Trade that is done to enhance the local or global environment or processes benefiting that environment, usually in accordance with the government.
Technological
(Dimensions of Globalization)
Trade that is done for the purpose of advancing in technology, usually for the purpos making things more efficient or creating entirely new products.
World Bank (WB)
Provides financial assistance or loans to low- to middle-class countries and is generally funded by richer countries to promote equity and to ensure quality of life within the poorer countries.
International Monetary Fund (IMF)
A global foundation that provides money for poorer countries, much like the World Bank but with more criteria. Located in Washington, D.C.
Imports
Traded goods coming to a country from another country.
Exports
Traded goods leaving a country to trade with another country.
Standardization
How governments set specific rules or conduct for basic trade or make it more “by the book”.
Containerization
A system using shipping containers that can easily be transported by a variety of means, such as semi trucks and cargo ships.
Consumerism
A society promoting consumerism is one that encourages selling of products and obtains wealth largely because of consumers purchasing goods and services.
Global Urbanisation
Regarding how most of the world is becoming more developed as a whole and most of the population is living in places classified as “urban”