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geography > Glossary -> Global systems and global governance > Flashcards

Glossary -> Global systems and global governance Flashcards

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1
Q

actors

A

players on the world stage that participate in global governance, exercise power, make decisions, solve problems and improve lives

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2
Q

agritechnologies

A

the application of modern technologies, such as irrigation technologies, to agriculture

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3
Q

Antarctic convergence

A

a natural boundary in the Southern Ocean which loops all the way around the Antarctic continent and separates cold north-flowing water from the warmer waters of the subantarctic

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4
Q

banana republic

A

a country whose economy is dependent on one or few commodities, often leading to a politically unstable state

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5
Q

bandwidth throttling

A

the deliberate slowing of internet service by an internet service provider (ISP)

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6
Q

bilateral

A

between two parties

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7
Q

bioprospecting

A

the process of discovery and commercialisation of new products based on biological resources

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8
Q

colonialism

A

the policy or practice of a power in extending control over weaker nations or peoples

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9
Q

comparative advantage

A

when a country specialised in producing only those goods that can be produced efficiently and at the lowest opportunity cost

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10
Q

Council of the European Union

A

represents the governments of member countries and promotes/defends national interests. The government ministers share power over EU budget and legislation with the European parliament

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11
Q

de-skilling

A

when traditional skills and crafts may be lost when production technology replaces manpower

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12
Q

Doha Development Round

A

the trade-negotiation round of the WTO that began in 2001

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13
Q

domain

A

a territory or activity over which control is exercised

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14
Q

domestic monopoly

A

when a single firm controls a large proportion of the domestic market (25% or greater). This may mean domestic prices are kept high as there is less competition

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15
Q

Dutch disease

A

the negative consequences as a result of large increases in a country’s income. It is usually associated with the discovery of natural resources, particularly oil reserves, but can also result from any large increase in foreign currency such as FDI

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16
Q

economies of scale

A

the ability to reduce costs proportionately by increasing the scale of production

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17
Q

empowerment

A

to give power or authority to someone. Female empowerment involves the fuller participation of women in a nation’s economy and society

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18
Q

European Commission

A

an executive body that is responsible for proposing and implementing EU laws, monitoring treaties and the day-to-day running of the EU. Members are appointed by EU national governments

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19
Q

European Council

A

sets the EU’s overall political direction and priorities. It is made up of the heads of state or government of EU member countries

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20
Q

European Parliment

A

represents the 500 million EU citizens and is directly elected by them. Adopts the laws proposed by the Commission. Shares power over EU budget and legislation with the Council of the European Union

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21
Q

fairtrade

A

a value-based organisation and trademark that aims to tackle injustices of the globalised economy. Fairtrade aims to pay farmers a guaranteed minimum price, offer fair terms of trade and make payment of an additional development premium for reinvestment

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22
Q

flexibility of production

A

a method of production that is sufficiently flexible to be able to respond to both planned and unplanned changes, such as strike action or natural disaster

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23
Q

Foreign Direct Investment (FDI)

A

an investment made by a company, usually a TNC, based in one country into a company based in another country. The investment is usually made to acquire control or to have significant influence over the foreign company

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23
Q

G8 + 5

A

a group of 8 countries (Canada, France, Germany, Italy, Japan, Russia, UK and USA) which meets annually to discuss economic development. In 2005, G8+5 was formed to include China, India, Brazil, Mexico and South Africa

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23
Q

global commons

A

those parts of the planet that fall outside national jurisdictions and to which all nations have access

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23
Q

global governance

A

an international process of consensus-forming which, in turn, generates guidelines and agreements ‘governing’ the actions of those same players

23
Q

G20

A

an inter-governmental organisation which comprised 19 individual countries plus the EU. It brings together developed and developing countries to discuss key economic issues

23
Q

global product

A

a product that in marketed and branded throughout the world. Many TNCs produce global products, for example, Coco-Cola, Nike and (Jaguar) Land Rover

23
Q

glocalisation

A

a combination of the words globalisation and localisation. used to describe a product that is developed and distributed globally but is adapted to meet local market tastes or needs

23
Q

horizontal integration

A

involves improving links between different firms in the same stage of production. This usually occurs when a TNC acquires competitors in the same industry and uses common structures in the hope of making cost savings

23
Q

incentive gap

A

the gap between the need for international cooperation and the motivation to undertake it

23
Q

International Monetary Fund (IMF)

A

standardises global financial relations and aims to promote global monetary and exchange stability by monitoring the global economy and encouraging the growth of international trade

23
Q

International Whaling Commission (IWC)

A

a voluntary organisation set up to monitor and conserve global whale stocks and oversee the whaling industry

24
Q

jurisdictional gap

A

the gap between the increasing need for global governance in many areas (such as health and water security) and the lack of an authority with the power, or jurisdiction, to take action

25
Q

loss leaders

A

goods that supermarkets sell so cheaply that no profit is made in order to use them as an incentive to lure in shoppers

26
Q

Marine Protected Areas (MPAs)

A

marine areas where certain activities are limited or prohibited in order to meet specific conservation, habitat protection, or fisheries management objectives

27
Q

marine reserves

A

marine reserves are fully protected areas that are off-limits to all extractive uses, including fishing. They provide the highest level of protection to all elements of the ocean ecosystem

28
Q

Member countries of the EU

A

implement the laws passed by the EU. The Commission ensures that the laws are properly applied and implemented

29
Q

monopoly

A

when a single company or group owns all or nearby all of the market for a given type of product or service - there is little choice and little competition. Monopolies tend to be viewed with caution as they are able to control prices

30
Q

Non-Governmental Organisation (NGO)

A

a non-profit organisation created by private organisations or people with no participation or representation by any government

31
Q

Organisation of Petroleum Exporting Countries (OPEC)

A

an organisation or cartel that follows a common approach to the sale of oil

32
Q

Organisation for Economic Cooperation and Development (OECD)

A

a global ‘think tank’ for 35 of the world’s wealthiest nations which aims to promote policies to improve economic and social prosperity

33
Q

over-specialisation

A

when the focus of production is on one or two products, meaning there is often a lack of flexibility and ability to diversify if the same goods can be produced more cheaply overseas

34
Q

participation gap

A

this refers to the fact that international cooperation remains primarily the affair of governments, leaving civil society groups on the fringes of policy-making

35
Q

primary products

A

goods made up of a natural raw material and that have not been through any manufacturing processes (such as oil, timber or fish)

36
Q

product dumping

A

when products are exported at a price that is lower in the foreign market than the price charged domestically

37
Q

purchasing power

A

the amount that consumers can buy for their money. Increasing trade results in increased competition that lowers prices and gives consumers increased purchasing power

38
Q

single-product economy

A

a country which relies on one, or a very small number, of products (usually raw material) for its export earnings

39
Q

sovereignty

A

the power or authority countries have to govern themselves

40
Q

spreading of locational risks

A

spreading of risk by investing in different geographical locations - ‘Not putting all the eggs in one basket’

41
Q

status quo

A

‘existing state of affairs’ or to keep social or political matters the same

42
Q

tariff

A

a tax that is paid on goods coming into or going out of a country

43
Q

terms of trade

A

the value of a country’s exports relative to that of its imports

44
Q

trade bloc

A

where a set of countries trade freely with each other with few, if any, barrier such as tariffs. Countries outside this area that wish to trade anywhere within the trade bloc have to pay an agreed tariff

45
Q

trade liberalisation

A

also known as free trade and involves removing barriers such as import duties (tariffs) or customs. The theory is that the fewer barriers there are to the flow of goods, the greater the trade will be

46
Q

trade protectionism

A

the use of barriers such as import duties (tariffs) or customs in order to increase the price of imports and so protect domestic production

47
Q

Transatlantic Trade and Investment Partnership (TTIP)

A

a new trade deal, being negotiated between the US and EU, with the aim of liberalising ‘one third of global trade’

48
Q

transnational companies (TNCs)

A

corporations or companies that operate in at least two countries

49
Q

United Nations Environment Programme (UNEP)

A

the leading global environmental authority and advocate. It arguably sets the global environmental agenda, and seeks to promote the coherent implementation of the environmental dimension of sustainable development (within the United Nations system)

50
Q

vertical integration

A

an industry where one company either owns or controls multiple stages in the production and distribution chain

51
Q

World Bank

A

promotes investment globally and provides loans for countries under certain conditions

52
Q

World Trade Organisation (WTO)

A

a global organization that deals with the rules of trade between nations

53
Q
A

geography (7 decks)

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