Process by which people, their culture, goods, money and information can be transferred between countries with few or no barriers.
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Global Village
Due to the increased speed of transport and communications, the world feels more like a village.
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Interdependence
Countries are more reliant on each other as they depend on each other for trade.
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FDI, Foreign Direct Investment
A controlling ownership of a business enterprise in one country by an organisation in another country.
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TNC, Transnational Corporations
Firms with operations spread across the world. Makers and sellers of goods and services.
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IMF, International Monetary Fund
Promote international monetary co-operation, currency stability and international trade.
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WTO, World Trade Organisation
Promotes free trade or trade liberalisation.
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Containerisation
A system of standardised transport, that uses a common size of steel container to transport goods.
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Outsourcing
Obtaining by contract from an outside supplier
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Offshoring
The practice of basing some of a company's processes or services overseas, to take advantage of lower costs.
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Glocalisation
The practice of conducting business according to both local and global considerations.
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KOF Index of Globalisation
Measures three main dimensions of globalisation: economic, social, and political.
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Global Cities (Kearney) Index
Examination of a city's current performance based on 27 metrics across five dimensions: business activity, human capital, information exchange, cultural experience and political engagement.
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Deindustrialisation
The decline in regionally important manufacturing industries. The decline can be charted either in terms of workforce numbers or output and production measures.
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Other cards in this set
Card 2
Front
Due to the increased speed of transport and communications, the world feels more like a village.
Back
Global Village
Card 3
Front
Countries are more reliant on each other as they depend on each other for trade.
Back
Card 4
Front
A controlling ownership of a business enterprise in one country by an organisation in another country.
Back
Card 5
Front
Firms with operations spread across the world. Makers and sellers of goods and services.
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