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BHASVIC Geography Globalisation - Key Terms
Terms in this set (50)
Businesses whose operations are spread across the world, operating in many nations as both makers and sellers of goods and services. Many of the largest are instantly recognisable 'global brands' that bring cultural change to the places where products are consumed.
Gross domestic product
A measure of the financial value of goods and services produced within a territory (including foreign firms located there). It is often divided by population size to produce a per capita figure for the purpose of making comparisons.
Countries that have begun to experience high rates of economic growth, usually due to rapid factory expansion and industrialisation. There are numerous sub-groups of emerging economies, including Brazil, Russia, India, China and South Africa (the 'BRICS' group). They are sometimes called newly industrialised countries.
Money that migrants send home to their families via formal or informal channels.
If two places become over-reliant on financial and/or political connections with one another, then they have become interdependent. For example, if an economic recession adversely affects a host country for migrant workers, then the economy of the source country may shrink too, due to falling remittances.
Spatial division of labour
The common practice among TNCs of moving low-skilled work abroad (or 'offshore') to places where labour costs are low. Important skilled management jobs are retained at the TNC's headquarters in its country of origin.
Large capacity storage units which can be transported long distances using multiple types of transport, such as shipping and rail, without the freight being taken out of the container.
Thanks to technology, distant places start to feel closer and take less time to reach.
Foreign direct investment
A financial injection made by a TNC into a nation's economy, either to build new facilities (factories or shops) or to acquire, or merge with, an existing firm already based there.
The four large, fast-growing economies of Brazil, Russia, India and China, recently joined at their annual summit meeting by South Africa.
The positive impacts on peripheral regions (and poorer people) caused by the creation of wealth in core regions (and among richer people).
Sovereign wealth funds
Government-owned investment funds and banks, typically associated with China and countries that have large revenues from oil, such as Qatar.
Voluntary international organisations that exist for trading purposes, bringing greater economic strength and security to the nations that join.
The taxes that are paid when importing or exporting goods and services between countries.
Special Economic Zone
An industrial area, often near a coastline, where favourable conditions are created to attract foreign TNCs. These conditions include low tax rates and exemption from tariffs and export duties.
TNCs move parts of their own production process (factories or offices) to other countries to reduce labour or other costs.
TNCs contract another company to produce the goods and services they need rather than do it themselves. This can result in the growth of complex supply chains.
Global production network
A chain of connected suppliers of parts and materials that contribute to the manufacturing or assembly of the consumer goods. The network serves the needs of a TNC, such as Apple or Tesco.
Least developed countries
The world's very poorest low income nations, whose populations have little experience of globalisation. A number of these nations are described as 'failed states' by politicians, for example Somalia and South Sudan.
The decline of regionally important manufacturing industries. The decline can be charted either in terms of workforce numbers or output and production measures.
Someone who moves from place to place inside the borders of a country. Globally, most internal migrants move from rural to urban areas (rural-urban migrants). In the developed world, however, people also move from urban to rural areas too (a process called counter-urbanisation).
An increase in the proportion of people living in urban areas.
A migrant whose primary motivation is to seek employment. Migrants who already had a job may have set off in search of better pay, more regular pay, promotion or a change of career.
People who are forced to flee their homes due to persecution, whether on an individual basis or as part of a mass exodus due to political, religious or other problems.
Barriers to a migrant such as a political border or physical feature (deserts, mountains and rivers).
The difference between a society's crude birth rate and crude death rate. A migrant population, such as that found in developing world megacities, usually has a high rate of natural increase due to the presence of a large proportion of fertile young adults and relatively few older people reaching the end of their lives.
Movement of people directed towards the centre of urban areas.
Abandoned or derelict urban land previously used by commercial or industrial companies.
Culture can be broken down into individual component parts, such as the clothing people wear or their language. Each component is called a 'cultural trait'.
The practice of promoting the culture/language of one nation in another. It is usually the case that the former is a large, economically or militarily powerful nation and the latter is a smaller, less affluent one.
The global influence a country derives from its culture, its political values and its diplomacy. Much of the USA's soft power has been produced by 'Hollywood, Harvard, Microsoft and Michael Jordan'.
The landscape of a place that has been shaped over time in characteristic ways by the combined action of natural and human processes.
When a person's income is too low for basic human needs to be met, potentially resulting in hunger and homelessness.
Millennium Development Goals
Eight specific objectives for the global community created at the UN Millennium Summit in New York in 2000.
When a person's income is too low to maintain the average standard of living in a particular society. Asset growth for very rich people can lead to more people being in relative poverty.
Unofficial forms of employment that are not easily made subject to government regulation or taxation.
The flow of economic migrants after a country has joined the EU.
The dispersion or spread of a group of people from their original homeland.
Crude birth rate
The number of live births per 1000 people per year.
A political movement focused on national independence or the abandonment of policies that are viewed by some people as a threat to national sovereignty or national culture.
People who moved to European Countries from former colonies during the 1950s, 1960s and 1970s. The UK received economic migrants from the Caribbean (especially Jamaica), India, Pakistan, Bangladesh and Uganda.
The overall balance between immigration and emigration.
A material source of wealth, such as timber, fresh water, or a mineral deposit, that occurs in a natural state and has economic value. Natural resources may be renewable (sustainably managed forests, wind power and solar energy) or non-renewable (fossil fuels).
A society in which the buying and selling of goods and services is the most important social and economic activity.
A crude measurement of the area of land or water required to provide a person (or society) with the energy, food and resources needed to live, and to also absorb waste.
A measure of the amount of water used in the production and transport to market of food and commodities (also known as the amount of 'virtual water' which is 'embedded' in a product).
The amount of carbon dioxide produced by an individual or activity.
The distance food travels from a farm to the consumer. The journey may be short and direct for some local produce, or may take longer, with food often crossing entire continents via a string of depots.
A settlement where individuals and businesses have adopted 'bottom-up' initiatives with the aim of making their community more sustainable and less reliant on global trade.
A financial exchange where the consumer has considered the social and environmental costs of production for food, goods or services purchased.
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