World becoming more connected through people, culture, finance, goods and information transfer between countries with few barriers
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Social Factors of Globalisation
Migration, holidays, work force
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Cultural Factors of Globalisation
Food, music, films, fashion
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Political Factors of Globalisation
Trade barriers reduced, flow of goods easier due to laws
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Economic Factor of Globalisation
Trade
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Environmental Factors of Globalisation
International treaties, disease (due to pests from other countries), endangered species. Rise in wildlife (new plants within new areas), diesel emissions
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Glocalisation
Term used to describe a product or service that is developed and distributed globally.
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Sustainability
Meeting the needs of today without impacting the needs for future generations
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Outsourcing (+ example)
Refers to an organisation contracting work out to a third party (allowing an Indian IT company to take care of a companys customer complaints)
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Offshoring (+ example)
Refers to getting work done in a different country (e.g. moving manufacturing to a country with low labour costs)
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Cultural diffusion
Being influenced by a culture
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Cultural erosion
Culture being destroyed completely
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Westernisation
When places become influenced by European and American ideas
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Indigenous
A native person of a country
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Foreign Direct Investment
Investment made by an overseas company or organisation into a company or organisation based in another country
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Export processing zone
Term now used in China for Special Economic Zones
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Special Economic Zones
Set up by national governments to offer financial or tax incentives to attract FDI that differ from those incentives normally offered by a country
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Absolute poverty
Condition where household income is insufficient to afford basic services/necessities of life
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Relative poverty
When households receive 50% less income than average median incomes
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Millennium Development Goals
Eight international development goals set in 2015
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Human Development Index
A single index figure, published by the UN each year, which expresses the level of education, health and GDP indicators for every country
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Source location
Point or place from which something originates
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Host location
A country where a company that is based in another country has business activities
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Brain drain
The emigration of highly trained or qualified people from a particular country
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Remittance
A sum of money sent in payment or as a gift
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Xenophobia
Dislike or prejudice against people from other countries
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Elite Migration
Skilled people who move to another country
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Low wage migration
People who go to work in a country with higher wages
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Hyper-urbanisation
When an urban population grows at a rapid pace
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World city/hub-city
City that is a primary node in the global economic network
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Megacity
A very large city typically with a population of over 10 million people
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Other cards in this set
Card 2
Front
Migration, holidays, work force
Back
Social Factors of Globalisation
Card 3
Front
Food, music, films, fashion
Back
Card 4
Front
Trade barriers reduced, flow of goods easier due to laws
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