The increasing interconnectedness of society through transport, technology and TNC's.
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TNC
Transnational Corporation that operates in more than one country in the world.
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FDI
A Foreign Direct Investment is a finacial injection of capital (£) from a Government or TNC that helps build new facilities or merge existing ones to gain profit.
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World Trade Organisation
The WTO regulates international trade.
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World Bank
It's an international financial institution that provides loans to countries.
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International Monetary Fund
It is an international organisation that was created for the purpose of standardizing global financial relations and exchange rates.
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Off Shoreing
Movement of part production to a different country to reduce labour costs.
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Out Sourcing
A stratergy used by companies to reduce costs or improve efficiency in production of goods.
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Free Market Liberalisation
FML is the removing or reduction of restricts/barriers (red tape) on the free exchange of goods between nations.
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Privatisation
The act of transferring ownership of a government building/property to a private business to [hopefully] improve it.
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Incentive
A payment or concession to stimulate greater output or investment.
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Remittances
Transfer of money by a foreign worker to their home country.
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Glocalisation
The act of changing a product to suit a different countries laws, religion or consumer needs. (Ex. Car manufactures changing the side of the driver seat for the UK)
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Global Shift
The movement of economic activity from to west (North America/Western Europe) to the East (Asia.)
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Global Hub
A settlement or a wider region that provides a focal point for activities that have a global influence.
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Cultural Diffusion
The spread of culture around the world, mainly led by western nations. (Dominance of western culture.)
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Americanisation
The process by which people and countries are increasingly influenced by by the ideology of the United States (Coca-Cola, McDonald's.)
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Interdependant
Countries that rely on each other to trade goods and services.
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Trade Bloc
A Trade Bloc is a type of inter-governmental agreement where barriers and tariffs (red tape) are reduced or even eliminated.
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De-industrialisation
When a company closes its factories due to cheaper competition abroad. (Ex. Detroit)
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Other cards in this set
Card 2
Front
Transnational Corporation that operates in more than one country in the world.
Back
TNC
Card 3
Front
A Foreign Direct Investment is a finacial injection of capital (£) from a Government or TNC that helps build new facilities or merge existing ones to gain profit.
Back
Card 4
Front
The WTO regulates international trade.
Back
Card 5
Front
It's an international financial institution that provides loans to countries.
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