Basic test of concepts relating to globalisation

Terms in this set (...)

The increasing interconnectedness and inter-dependency of the world's nations and their people into a single, global cultural, political and economic system.
Where local cultures are eroded as they come into contact with American products, becoming more materialist and consumerist.
Political Globalisation
the process where the sovereignty of nation states is reduced due to the increasing power of International Institutions, such as the United Nations.
A form of rationalisation through which the principles of efficiency and predictability come to dominate more and more spheres of social life.
Cultural Hybridity
The emergence of a new cultural form out of two or more existing ones, leaving both forms changed without erasing the old.
The process by which local and global cultures interact to produce new cultures.
Where people have increasing choice about whether to stick to traditional ways of life.
an intellectual and aesthetic openness toward divergent experiences, images, and products from different cultures
The World Trade Organisation
Sets the rules of international trade and provides a forum to settle trade disputes
Time-Space Compression
Where the world 'feels smaller' as we are able to communicate with people in faraway places more instantaneously.
Cultural Globalisation
The movement of ideas, attitudes, meanings, values and cultural products across national borders.
Global Risk Consciousness
Where people in different countries are increasingly aware of and affected by international threats such as terrorism, nuclear war and global warming
Economic Globalisation
The global expansion of international capitalism, free markets and the increase in international trade.
Transnational Corporations (TNCs)
Companies that produce goods in more than one country, and they are oriented to global markets and global products
Global Commodity Chains
Where networks of production, distribution and consumption of goods and services becomes increasingly stretched across the globe
Weightless Economy
Refers to information based/ electronic products such as computer software, films and music, and information and financial services rather than actual tangible, physical goods such as food, clothing or cars.
Post Industrial Economy
An economy in which the service sector generates more wealth than the manufacturing of physical products.
Golden Straitjacket
Neoliberal policies such as lowering taxation which countries must adopt if they are to experience economic growth
The transfer of publicly (state) owned enterprises to private sector companies
A set of right wing economic policies - deregulation, privatisation and lowering taxation.
Globalisation is a positive process characterised by economic growth, increasing prosperity and the spread of democracy.
Globalisation is a complex process involving different two-way exchanges between global institutions and local cultures
Global Pessimism
Globalsation is a one way process involving American Imperialism - the increasing control of, erosion and exploitation of local cultures
Removing restrictions of businesses, such as reducing minimum wages, taxes and health and safety legislation