globalisation Flashcards
(21 cards)
What is a TNC?
Trans-National Corporation are companies that operate in multiple countries as well as locate their headquarters or production in a different country.
What is globalisation?
The increasing interdependence and integration between countries worldwide
What is glocalisation?
Glocalisation is when companies adapt their products to meet the needs and wants of local consumers.
What is cultural diffusion?
The spread of one culture to another through music, clothes, food and traditions.
What is FDI?
Foreign direct investment is an investment from one country into the structure, equipment and organisation of another
What is a trade bloc?
A group of countries that work together to provide special deals for trading.
What is the WTO?
The World Trade Organisation is an international organisation dealing with the rules of trade between nations
What is a NGO?
An organisation that focuses on humanitarian issues or social problems with a political aspect
What is Free Market Liberalisation?
Removal of the influence of state in the economy allowing the markets to act more freely
What is KOF?
A score each country is given out of 100, the higher number the more globalised the country is using social, political and environmental factors
What is AT Kearney Index?
Index includes political engagement, technological connectivity, personal contact and economic integration
What is a global hub?
A global hub is a central point in the world where various activities, such as trade, finance, culture, and communication converge and are coordinated.
What is a megacity?
A city with over 10 million people living in it.
What is economic migration?
People who have moved voluntarily for reasons of work and improved quality of life
What is a diaspora?
A diaspora is a group of people who don’t live in their original country but still maintain their heritage in their new land.
What is deindustrialisation?
De-industrialisation is the reduction of industrial activity or capacity in a region or economy, especially of heavy industry or manufacturing industry
What is cultural erosion?
Cultural erosion involves a culture being worn away or even lost completely.
What is containerisation?
Containerisation is a system of freight transport for use in sea shipping that has reduced the transport costs of moving thousands of different goods across the globe
What is China’s open door policy?
the Chinese government adopted their Open Door Policy and opened up the country to investment from abroad. This led to the transformation of China with significant economic growth and urbanisation.
What is offshoring?
Offshoring is where a TNC moves parts of its production process to other countries. This is often developing countries where production costs (e.g. labour or land) are lower.
What is outsourcing?
Outsourcing is where a TNC gives a contract to another company to complete part of their work.
