Human 1 - Globalisation Definitions Flashcards
(42 cards)
Define Globalisation:
A process in which geographic distance becomes a factor of diminishing importance in the establishment and maintenance of cross-border economic, political, social-cultural and environmental relations. (Definition by Rudd Lubber)
Define Economic Globalisation:
The global flow and exchange of resources, goods, finance and services which is causing the growth of global companies, markets and finance
Define Political Globalisation:
The growth and development of political links / ties between countries and global political powers
Define Environmental Globalisation:
The growth of global environmental problems and widespread industrial pollution, often reacted to with world-wide campaigns
Define Cultural Globalisation:
The spread of cultural ideas and products across the globe through migration, social media and trade
What is a TNC?
A Trans-National Corporation is a company that operates in multiple countries
What are Remittances?
Remittances is the money earned in one country and sent to another (usually a home country).
E.g. Polish workers in the UK send money to their families back home in Poland
What is Global Interdependence?
It is where countries become reliant on one another through Political and/or Economic ties
What is the Spatial Division of Labour?
It is the distribution of different stages of economic activity across space, leading to the specialisation of work within particular places
Define Shrinking World:
Where the world seems a smaller place as everywhere is quicker and easier to reach, and geographic distance becomes less important
What is a Trade Bloc?
A Trade Bloc is a group of countries that work together to set rules and / or taxes upon their trade
What is the KOF Index?
It is an Index for measuring the globalisation of countries, made by the KOF Swiss Economic Institute. It considers Political, Social and Economic factors
What is the AT Kearney Index?
The AT Kearney Index measures the level of globalisation in cities and how their choices impact the world. It measures 5 dimensions: Business Activity, Human Capital, Information Exchange, Cultural Experience and Political Engagement
What is Free Trade?
Where there are little or no restrictions on the imports and exports between countries
What is Foreign Direct Investment? (FDI)
Foreign Direct Investment is the financial ‘injection’ by a TNC into a country’s economy (to build infrastructure etc)
What is China’s Open Door Policy?
China’s Open Door Policy was where, in 1978, the Chinese government reformed their Land, Economic and Migration laws. This greatly boosted GDP, manufacturing ability and reduced their communism as people where incentivised to work to make more money.
What are the 4 main strands of Globalisation?
The 4 main strands of Globalisation are;
Economic
Social
Political
Cultural
What are the 5 different types of Global Flows?
Capital - Movement of Money Information - Communication etc Commodities - Raw Materials etc Migrants - People moving Tourists - Holiday makers etc
What areas of Technology have had developments that have affected Globalisation?
Communication - Like the telephone and the internet
Transport - Including Air Travel & Containerisation
What are 3 Political and Economic factors that have affected Globalisation?
The World Trade Organisation (WTO) is an example of a global trade bloc (economic)
Trade Blocs - making trade easier in / between the countries involved (economic)
National Governments - Allowing the people to be represented (Political)
What is the Multiplier Effect?
Investment in the private sector
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Direct Job Creation
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Increased local spending by workers
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Indirect Job Creation
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Increased local demand for goods and services
Repeat
Define Global Shift:
Global Shift is the movement of economic activity around the world. Usually as a result of TNC’s wanting to reduce costs and increase profits
What does the term NIC stand for and mean?
A Newly Industrialised Country is a country that is newly industrialised (1960’s to 1970’s)
What does the term RIC stand for and mean?
A Recently Industrialised Country (RIC) is a country that has been more recently Industrialised (1980’s to 1990’s mainly but also onwards)
