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Geography AS > Globalisation definitions > Flashcards

Globalisation definitions Flashcards

(61 cards)

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1
Q

BRIC groups

A

Used to refer to 4 fastest growing economies (Brazil, Russia, India, China), but now has 10 members

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2
Q

Deregulation

A

reduction in rules that means foreign businesses can set up in the UK

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3
Q

foreign acquisition

A

TNC launches takeover of company in another country

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4
Q

FDI

A

financial injection made by a TNC into another country’s economy (acquire facilities or merge with existing)

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5
Q

free market privatisation

A

transferring ownership of a state asset to the private sector

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6
Q

free trade

A

trade without barriers e.g. tariffs and quotes

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7
Q

global production network

A

chain of connected suppliers of parts / materials that contribute to assembly of consumer goods

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8
Q

global shift

A

relocation of manufacturing industries from developed to emerging

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9
Q

glocalisation

A

company rebrands a product to suit local tastes

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10
Q

GDP

A

same as GNI but excluding foreign earnings

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11
Q

GNI

A

value of goods and services earned by a country

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12
Q

intermodal containers / containerisation

A

large capacity storage units that can be transported long distances using multiple modes of transport without the need to remove freight from containers

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13
Q

IMF

A

global organisation whose primary role is to maintain international financial stability

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14
Q

IGOs

A

comprise of 2+ organisations working together e.g. IMF, UN

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15
Q

JIT

A

time between production and delivery is sharply reduced -> cheaper

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16
Q

nationalism

A

political movement focusing on national independence / abandonment of policies viewed as threatening to sovereignty

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17
Q

neoliberalism

A

belief in free flow of people, capital, finance, and resources- state interventions in economy are minimised

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18
Q

post industrial / new / knowledge economy

A

GDP earned through expertise and creativity in services such as finance and media

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19
Q

offshoring

A

TNCs move part of production process to other countries to reduce labour costs

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20
Q

outsourcing

A

TNCs contract another company to produce goods / services -> complex supply chains

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21
Q

protectionism

A

economic policy of controlling trade by implementing trade restrictions in order to disadvantage foreign firms and protect domestic ones

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22
Q

quota

A

only limited number of products allowed to be imported into a country

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23
Q

remittances

A

income sent home in emigrants

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24
Q

shrinking world

A

distant places feel closer due to improvements in transport

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25
SWF
government owned investment funds, typically associated with countries with large revenues from oil
26
subsidies
grants given by governments to increase profitability of key industries
26
trade blocs
intergovernmental agreement where regional trade barriers are lifted
26
SEZs
industrial area, often near coastline, where favourable conditions created to attract TNCs
26
transfer pricing
companies channel profits through subsidiary companies in low tax countries
26
trade liberalisation
removal of trade barriers
26
product standardisatiob
helps ensure products are compatible with each other and of a high standard
26
tariffs
taxes applied om goods traded across international borders
26
TNC
large business that operates in more than one country
27
World Bank
uses bank deposits placed by world's wealthiest countries to provide loans for development in other countries
28
WTO
organisation that seeks a substantial reduction in barriers to trade -> neoliberalism
29
time space compression
distant places feel closer as it takes less time to reach them- perceptions
30
austerity programmes
governments reduce debt by cutting spending in public sector pay e.g. health / education
31
structural adjustment programmes
privatisation of state assets, austerity programmes etc
32
globalisation
ongoing process by which countries become increasingly interconnected (wider and deeper)
33
global production network
chain of connected suppliers who contribute to manufacturing of consumer goods
34
global hub
city that is highly connected globally and therefore a focal point for global activities
35
culture
shared customs of a group
36
cultural traits
culture broken down into individual parts e.g. clothing, language
37
cultural imperialism
promoting one nation's culture in another
38
soft power
influence a country derives from its culture e.g. media channels
39
homogenous culture
everyone follows same set of cultural norms, therefore a distinct lack of cultural diversity
40
cultural pluralism
more than one culture coexists, each one maintaining its defining characteristics
41
cultural hybridism
multiple cultures mix to form and entirely new culture
42
cultural diffusion
spread of cultural ideas from one area to another
43
cultural erosion
loss of weakening of key parts of a specific culture
44
cultural landscape
landscape has been changed through a combination of physical (historical and modern) and human (languages, traditions) processes
45
UNESCO
UN Educational, Scientific, and Cultural Organisation
46
pessimistic hyperglobalisers / anti globalisers
concerned that cultures are being eroded and ecosystems devalued
47
optimistic hyperglobalisers / pro globalisers
think that globalisation and cultural erosion can bring about positive change on a global scale
48
deindustrialisation
decline of regionally important manufacturing industries
49
economic restructuring
Western urban areas shifting from a manufacturing to a service sector economic base.
50
refugee
someone who leaves their home because of fear of persecution based on religion, race, or politics, and gains refugee status in the country they have moved to
51
source + host regions
source = country that migrants leave host = country that receives migrants
52
economic migrant
migrant whose primary motivation is to seek employment
53
internal migration
within borders of country e.g. rural-urban, counter
54
megacity
population over 10 million

Geography AS (5 decks)

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