Globalisation key words 0.0 / 5 ? GeographyGloablisationASEdexcel Created by: sophie000Created on: 27-02-18 16:16 Globalisation The process by which people, their cultures, money, goods and information can be transferred between countries with few or no barriers 1 of 27 Glocalisation The changing of the design of products to meet local tastes or laws 2 of 27 International Monetary Fund To promote currency, stability and international trade 3 of 27 World Bank Funds and expertise to promote economic development across the world 4 of 27 World Trade Organisation Promotes free trade. Exchange of goods and services without government intervention 5 of 27 Economic liberalisation The removal of controls to encourage economic development 6 of 27 Foreign Direct Investment A financial projection made by a TNC into a nations economy 7 of 27 Privatisation The transfer of assets from the public sector to the private sector 8 of 27 Tariffs A tax to be paid on a particular class of imports and exports 9 of 27 Quotas A limited quantity of a particular product which under official controls can be produced, exported or imported 10 of 27 Protectionism The theory or practice of shielding a country's domestic industries from foreign competitors 11 of 27 Special Economic Zones (SEZs) An induvidual area where favourable conditions are created to attract foreign TNCs 12 of 27 Global shift The international relocation of different types of industrial activity 13 of 27 Offshoring TNCs move parts of their production process to other countries to reduce costs 14 of 27 Outsourcing TNCs contract another company to produce the goods and services they need 15 of 27 Deprivation A standard of living below that of the majority in a particular society 16 of 27 Dereliction Land that has been abandoned 17 of 27 Deindustrialisation The decline of regionally important manufacturing industries 18 of 27 A global hub A highly globally connected city 19 of 27 Interdependence Countries becoming increasingly reliant on eachother 20 of 27 Oligarchs Rich business person with great political influence and power 21 of 27 Cultural diffusion The spreading of people into different cultures 22 of 27 Capitalism An economic system based on private ownership of investment capital and wealth production 23 of 27 Communism A socio-economic system or organisation where the land and all property is owned by the community or state 24 of 27 Diaspora The dispersion or spread of a group of people from their original homeland 25 of 27 Global conscience People becoming more aware of global events 26 of 27 Ecological footprint A measure of the land area and water resources that a population needs in order to produce 27 of 27
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