Globalization

Globalization

1. Definition: Cultural integration

   • Cultural
     • Utopian society or less dominant cultures
   • Biological
   • Political homogenization
     • Dominant cultures exert social, political on other cultures
   • Economical
     • Large cultures exchange resources with or military conquest

2. Capitalism

   • An economic system
     • Goods, services,
   • Free market
   • Production owned by individuals or companies

3. Developing countries

   • Low or middle income nations
   • Bases of the country's gross national income.

4. E-commerce

   • Transactions
     • Electronic
       • Internet-based
     • Direct electronic connections

5. Homogenization

   • Uniform

6. International Monetary Fund

   • Promote cooperation
     • Exchange between nations
       • Growth of traded

7. Mercantilism

   • Theory
     • Nation prosperity
       • Supply of capital

8. Multilateral

   • System
     • Participation
       • 2 or more countries

9. Multinational corporation

   • Conducts business
     • More than 1 nation

10. Offshoring

    • Transfering functions
      • Another country

11. Outsourcing

    • Tranfering noncentral functions

12. Protectionism

    • Set up by a governing organization
      • Protect domestic industry

13. World bank

    • Provide aid to countries
      • Seeking to participate
        • In international exchange