Globalization 2

Globalization 2

1. Capitalism

   • Private means of production
     • Owned by indivuals/ccompanies

2. Developing Countries

   • Low or middle income
     • Based on GNI

3. E-Commerce

   • Economic transactions electronically
     • Economic connections

4. Homogenization

   • Making something similar

5. International Monetary Fund (IMF)

   • Cooperation and exhange between nations

6. Mercantilism

   • Nation's prosperity
     • Supply of capital

7. Multilateral

   • System involving two or more countries

8. Offshoring

   • Organizational functions to another country

9. Outsourcing

   • Non central functions to another entity

10. Protectionism

    • Protect domestic indutry and economy
    • Import and export regulations included

11. World Bank

    • Union of international organizations
    • Provide aid to countris participating in exchange
    • Also for reducing poverty around the world

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