Global systems & Global governance

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  • Created by: kmarkwick
  • Created on: 09-05-19 19:31
agglomeration
companies with similar industries locate near to each other due to the benefits of sharing ideas and resources
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multiplier effect
injection of investment increases wages, increases spending in the local economy, increases taxes, increases wages etc.
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subsidies
grants given to home producers to enable them to compete against imports
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embargoes
prohibit trade with a particular country, usually political
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NAFTA
North American Free Trade Agreement
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ASEAN
Association of South East Asian Nations
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BRIC
Brazil, Russia, India, China. Rapid economy growth since the 1990's
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MINT
Mexico, Indonesia, Nigeria and Turkey
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containerisation
Standardised transport containers for transfer between ships, trains and lorries
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Protectionism
government policy to protect local industries from foreign competition
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tariffs
tax on imported goods to make them more expensive than home-based goods
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tiger economies
hong kong, singapore, south korea, taiwan
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globalisation
increasing integration of economies, societies and cultures through global trade networks , communication, transportation and immigration
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economies of scale
cost advantages from larger size operations by spreading costs
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conglomerates
group of companies/ organisations from different businesses reporting to one parent company
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capital flows
movement of money for investment, trade or production of goods and services
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labour
all mental and physical effort used to create goods or provide services
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international trade
the exchange of capital, goods and services across international borders
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diaspora
large group with a similar heritage or homeland who have moved and settled all over the world
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economic leakage
loss of income from an economic system
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SDT
special and differential treatment
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TTIP
transatlantic trade and investment partnership, between USA and EU to reduce barriers for big businesses
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TPP
trans-pacific partnership. between USA, some Asian and South American countries
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APEC
asia pacific economic cooperation
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gini index
used to measure inequality within a country
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outsourcing
company cost saving by exporting production of goods to lower cost land/ labour areas
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multi lateral agreement
agreement between more than two countries
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customs unions
trade bloc with free trade between members but external tariff on other countries
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common markets
group of countries without trade barriers
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IMF
international monetary fund
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WTO
world trade organisation
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IPCC
intergovernmental panel on climate change
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bottom up
local people consulted for decision making and projects
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top down
central authority make decisions with little input from locals
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GATT
general agreement on tariffs and trade. before WTO, established in 1955
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IDA
international development association
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bilateral agreement
trade agreement between two countries or groups of countries
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Other cards in this set

Card 2

Front

injection of investment increases wages, increases spending in the local economy, increases taxes, increases wages etc.

Back

multiplier effect

Card 3

Front

grants given to home producers to enable them to compete against imports

Back

Preview of the back of card 3

Card 4

Front

prohibit trade with a particular country, usually political

Back

Preview of the back of card 4

Card 5

Front

North American Free Trade Agreement

Back

Preview of the back of card 5
View more cards

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