Global Systems and Global Governance Definitions

  • Created by: noory021
  • Created on: 17-04-18 19:36
Globalisation
The process of the world's economies, political systems and cultures becoming more strongly connected to each other.
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Global Marketing
Process of promoting and selling products or services all over the world.
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Tariffs
Taxes on products coming into the country making it more expensive for companies to sell their products abroad, as well as for consumers to buy them.
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Non-tariffs
Rules on the quality of products coming into the country, making them more expensive for companies and consumers.
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Bilateral Trade Agreements
Trade agreements between two countries.
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Multilateral Trade Agreements
Trade between between several countries.
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Outsourcing
When a company pays another company to do work that in the past may have been done in-house, usually to save costs.
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North Atlantic Treaty Organisation (NATO)
Countries worked together to improve security during the Cold War and were able to deter common threats.
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Remittance
Migrants sending money back to their families or home communities.
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Visa
Agreement that allows someone to enter and stay in a country.
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'Brain Drain'
Skilled people leave and take their knowledge with them.
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Foreign Aid
Money given to an LEDC to increase development or help in a crisis.
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Neo-liberalism
Thoughts that the economy would work better without state intervention therefore maximum economic growth would only occur if barriers to trade were removed, state-owned companies were privatised and government spending was cut.
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International Monetary Fund (IMF)
Monitors the global economy and advises governments on how they could improve their economic situation, whilst also giving loans to countries with economic problems.
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World Bank
Provides loans to LEDCs to invest in areas like heath, education and infrastructure.
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World Trade Organisation (WTO)
Works to increase trade and help resolve trade disputes between member countries.
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International Trade
Import and export of goods and services between countries
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Fair Trade
Way of trading that supports people in LEDCs who make products that are exported to MEDCs.
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Foreign Direct Investment (FDI)
When a person, company or other group spends money in another country in order to generate a profit.
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Ethical Investment
When a person, company or group only invests in areas that are considered socially responsible.
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Protectionism
Countries which limit trade using tariffs and non-tariff barriers to shield their industries from foreign competition.
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Free Trade
Policy of removing trade barriers.
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Trading Bocs
Associations between different governments that promote and manage trade by removing trade barriers between their members, while keeping common barriers to countries who are not part of the bloc.
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Special Economic Zones (SEZs)
Increase the volume of trade with emerging economies and LEDCs by having different trade and investment rules.
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Access to markets
About how easy it is for countries and companies to trade with one another.
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Special and Differential Treatment Agreements
Allow the least cdeveloped countries to bypass MEDCs tariffs, providing greater market access.
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Transnational Corporations (TNCs)
Companies that produce, sell or are located in two or more countries.
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Mergers
When two companies , usually of a similar size, agree to become one bigger company.
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Acquisitions
When one company buys another, usually smaller, company.
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Vertical Integration
When a company takes over other parts of its supply chain.
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Horizontal Integration
When a company merges with or takes over another company at the same stage of production.
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Intra-firm Trading
When one division of a TNC trades with another part of the TNC.
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Global Commons
Areas that are not owned by any one country or organisation-they belong to everybody.
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Antarctic Convergence
Point at which cold Antarctic water meets the warmer water to the north.
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Antarctic Treaty
Agreement about how to sustainably manage Antarctica's ecosystem.
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Protocol on Environmental Protection to the Antarctic Treaty
Focuses on protecting Antarctica's fragile environment.
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International Whaling Commission (IWC)
Regulates whaling and ensures that the whale population is at a sustainable level.
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United Nations Environment Programme (UNEP)
UN agency that governs the world's environment and is responsible for reporting activity in Antarctica to the UN.
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Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR)
Aims to stop illegal fishing and conserve the Antarctic ecosystem.
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Antarctic and Southern Ocean Coalition (ASOC)
Monitors the effects that climate change is having on Antarctica and environmental changes, and checks whether countries are following the rules.
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Other cards in this set

Card 2

Front

Process of promoting and selling products or services all over the world.

Back

Global Marketing

Card 3

Front

Taxes on products coming into the country making it more expensive for companies to sell their products abroad, as well as for consumers to buy them.

Back

Preview of the back of card 3

Card 4

Front

Rules on the quality of products coming into the country, making them more expensive for companies and consumers.

Back

Preview of the back of card 4

Card 5

Front

Trade agreements between two countries.

Back

Preview of the back of card 5
View more cards

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