Flashcards
Globalisation Key Words
Cards in this deck (38)
- 1GlobalisationThe process where people, culture, finance, goods and information move between countries with few barriers.
- 2GlocalisationWhen globalised countries tailor their products to the local area and culture e.g McDonald's McSpicy and Mudpie McFlurry in Singapore
- 3CapitalMoney, cash. Anything to do with finance.
- 4CommoditiesGoods such as raw materials e.g. fossil fuels, food and minerals
- 5GPSGlobal Positioning System. Satellites track the positions of objects and navigate people e.g Sat-Navs
- 6GISGeographical Information System. Software used to collect, manage and analyse satellites data.
- 7LeapfroggingWhere a country/region jump/skip steps in technological development e.g. African countries moving straight to mobile phone usage and not landline.
- 8FDIForeign Direct Investment. It is an investment made by a company or individual in one country to another country.
- 9Subsidiesmoney (e.g. tax breaks) given by a government to increase the profitability of key industries
- 10GrantsMoney that doesn't have to be repaid
- 11SAPsStructural Adjustment Plans. Strict conditions imposed on countries receiving loans from IMF and the World Bank.
- 12Free Trade BlocsCountries that can trade freely with other countries in the bloc with no barriers. e.g NAFTA, the EU etc.
- 13Global ShiftInt'l relocation of different types of industrial activity especially manufacturing.
- 14Deindustrialisationthe reduction of industrial activity in a particular region or economy e.g. Detroit, Michigan, USA
- 15ContainerisationThe shipping of products via containers and containerships. It has been the backbone of the global economy since the 50s.
- 16Time-space CompressionThe speed of transportation makes places closer in terms of social distance. Therefore the compression of speed has compressed the space between any two points
- 17Shrinking WorldTerm describing how people and organisms are shrinking meaning that it is easier to access other parts of the world. e.g. Ease of communication through the internet.
- 18GDPGross Domestic Produce is a measure of the financial value of goods and services produced within a country.
- 19Emerging economiesCountries that have begun to experience high economic growth. Usually due to industrialisation and factory expansion. Can be called NICs, Newly Industrialised Countries. Many sub-groups like the BRICS group (Brazil, Russia, India, China, South Africa)
- 20RemittancesMoney migrants send back home to family
- 21InterdependencyIf two places become over-reliant on financial/political connections with one another then they have become interdependent. e.g. if there is a recession which affect a host country then source country may be affected due to lack of remittances.
- 22MigrationThe permanent movement of people from one place (source country) to another (host country) with the intention or moving there permanently.
- 23Lengthening of connectionsProducts sourced from further afield. e.g bottled water from Fiji.
- 24Deepening of connectionsOur connections with other people and places cover every aspect of our lives. The food we eat, the music we listen to, the places we go on holiday. It is almost impossible to not be connected to other people and places
- 25Economic GlobalisationIt is the global spread of FDI including growth in world trade, the growth of TNCs. e.g. Online shopping
- 26Cultural GlobalisationLinked to the growth of TNCs and marketing of world products like Coca-Cola. Known as, 'Americanisation,' or, 'McDonaldisation'. e.g. sharing music, TV, film, food etc.
- 27Political GlobalisationGrowth of Free Trade Blocs help TNCs merge and grow in other countries. Concerns like the 2008 credit crunch or 2011 Japan tsunami mean countries work together. G7 countries (western countries, not Russia) dominate decision-making. Rise in Int'l organisation like UN, IMF and WTO.
- 28Social GlobalisationIncreasing migration creates large family networks, world cities are multi-ethnic as populations and cultures mix. Improvements in education and healthcare. Interconnectivity grown overtime through email, internet and mobiles.
- 29Environmental GlobalisationRealisation that people have caused problems on a global level like deforestation, pollution, animal welfare and so become an int'l problem. Requires solutions like the Paris agreement.
- 30OffshoringTNCs build production facilities in, 'offshore,' low wage economies as it is cheaper
- 31Foreign mergers2 firms join forces e.g Royal Dutch Shell (HQ in both the UK and the Netherlands)
- 32Foreign AcquisitionsA TNC takes over a company in another country e.g. Cadbury by Kraft in the US
- 33Transfer PricingWhen companies channel their profits through subsidiary company in a low-tax country like Ireland e.g. Starbucks and Amazon.
- 34Free Market LiberalisationGovernments hinder economic development. Also known as neoliberalism, as wealth increases, it will, 'trickle-down,' from the richest to the poorest in society.
- 35PrivatisationThe selling off of state-owned services in order to reduce government spending and increase revenue
- 36OutsourcingTNCs contract other companies to produce goods and build global business.
- 37Switched onAn area/country that is highly connected with the world. They are significant consumers and energy usage is high. e.g. Japan and London
- 38Switched offPoorest countries and small areas i.e. villages and deserts. Poorly and unfairly disconnected and likely to receive aid. Have insignificant purchasing power and low energy consumption. e.g. North Korea, Haiti and Antarctic.
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- A level Geography (Globalisation) Flashcards on Globalisation Key Words, created by Isaac Grinnell on 09/01/2017.
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- Isaac Grinnell · Jan 2017
- Updated
- Jan 17, 2017
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