Globalisation key words

Remittance
sending money in payment or as a gift- migrants send remittances to their families at home
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GDP
Gross Domestic Product,the total value of goods produced and services provided in a country during one year
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TNC
Transnational corporations, an enterprise that controls assets of other entities in countries other than its home country, usually by owning a certain equity capital stake
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Globalisation
geographic distance becomes a factor of diminishing importance in the establishment and maintenance of croo-bored economic, political, socio-cultural, and environmental relations
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Free trade
no restrictions on imports/exports between countries
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GATT
General Agreements on Tariff and Trade
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Trade blocs
companies and countries that work together to bring greater economic strength for members
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Tariffs
taxes paid when importing or exporting services between countries
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AT Kearney index
measures level of globalisation of cities
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World cities
Have global influence
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OPEC
Organisation of Petroleum Export Countries
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Global shift
physical movement of economic activity from developed countries to NIC's, and more recently RIC's and developing countries
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FDI
foreign direct investment
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Shrinking world
developments in communications and transport meaning distance is no longer significant
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Spatial division of labour
The **** of manufacturing industries from advanced capitalist countries to developing countries
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Economic globalisation
Increased flows and exchanges of resources, goods, finances & services. Growth of global companies, global markets and finances
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Political globalisation
Growth of political links between countries e.g WTO
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Environmental globalisation
Growht in global environmental problems e.g WWF earth hour
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Cultural globalisation
Global dispersal of products & cultural ideas e.g Bindis at festivals
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Brandt line
line that divides the 'rich north' from the 'poor south'
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NIC
newly industrialised country
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RIC
recently industrialised country
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Deindustrialisation
long term absolute decline in the manufacturing sector
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Footloose
Can be provided from any location
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Outsourcing
When TNC's contract another company to produce goods or provide services on their behalf
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BPO
Business process offshoring
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Immigration
the movement of people INTO a country to settle
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Emmigration
the movement of people FROM a country
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Economic migrant
migrant whose primary motivation is money
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Megacity
city with >10 mill people
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Global hub cities
highly connected cities that are important by influence rather than population size
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Cultural diffusion
spread of global culture
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Development
progress made by a country over time taking into account economy, human, social and environmental aspects
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Development gap
gap between the 'haves' and 'have nots'
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Sustainable development
development that meets the needs of the present without hindering the ability of future generations to meet their needs
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HDI
human development index
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EPI
environmental performance index
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GII
Gender inequality index
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KOF index
measure of globalisation in terms of political, social and economical factors
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Tertiary sector
selling of services and skills e.g call centres
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Card 2

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GDP

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Gross Domestic Product,the total value of goods produced and services provided in a country during one year

Card 3

Front

TNC

Back

Preview of the front of card 3

Card 4

Front

Globalisation

Back

Preview of the front of card 4

Card 5

Front

Free trade

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