Globalisation Flashcards
(29 cards)
China’s Open Door Policy (1978)
China allows foreign industry and TNCs in to promote a modern and thriving China
Containerisation
A logical system of transporting goods in steel containers
Cultural Diffusion
The spread of cultural beliefs and social activities into different cultures
Cultural Erosion
The reduction of a culture due to globalisation
Cumulative Causation
Like a multiplier effect, ‘Success breeds Success’. As the regions increase in prosperity the periphery regions will too due to their links with the core
Deindustrialisation
A reduction in industrial capacity, leading to social and economic change within a region
Disphora
‘To scatter about’, People displaced from their homeland, voluntarily or forced
Downward Transition Zones
A country or city with predicted economic decline, industrial reduction or switched off from globalisation
Economic Migration
Movement of migrants to improve financial income or standard of living
Foreign Direct Investment (FDI)
An investment by one country or business with an interest in another country
Global Hubs
Cores that demonstrate connections to the world (through trade, ideas and migration etc). TNCs and foreign direct investors will show an interest to base here
Globalisation
The growing interdependence of countries through cross border transactions
Glocalisation
The adaption of a good offered by a TNC to suit a local market
Hyperglobaliser
Someone who believes that globalisation and cultural diffusion is a positive process, which will lead to the formation of a homogeneous culture (one ‘super’ global culture)
International Bank for Reconstruction & Development and World Bank Group
Both offer loans and temporary financial assistance to developing countries
International Monetary Fund (IMF)
A fund of 189 member countries with the aim to aid each other to achieve financial stability and provide loans for development
KOF
Index of globalisation which takes into account the social, economic and political globalisation of a state
Liberalisation
A reduction in government control within industry, creating opportunity for greater participation from private businesses and TNCs within an industry
Offshoring
Company moves parts of its operations to another country, often to save money
Outsourcing
A business contracts outside businesses to complete some of their work, with the aim to reduce costs
Potential Areas of Growth
Regions where future economic development are predicted due to their undeveloped resources
Privatisation
When national public services become owned by private businesses
Sovereignty
Control over a country’s laws and regulations
Special Economic Zones (SEZ)
Regions where the government offer incentives to attract industry
