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Power, Places and Networks
Terms in this set (31)
This phenomenon includes all of the varied economic, social, political, cultural and environmental processes that make up globalization.
Transnational corporations (TNCs)
Businesses whose operations are spread across the world.
The skilful combined use of both hard and soft power in international relations.
The indirect actions by which developed countries exercise a degree of control over the development of their former colonies.
The power of persuasion.
This means getting your own way by using force. Invasions, war and conflict are very blunt instruments. Economic power can be used as a form of hard power: sanctions and trade barriers can cause great harm to other states.
Countries that have begun to experience higher rates of economic growth, often due to rapid industrialization.
Brazil, Russia, India, China and South Africa are five countries whose economies were growing rapidly in the early years of the twenty-first century.
USA, Japan, UK, Germany, Italy, France, Canada and Russia.
USA, Japan, UK, Germany, Italy, France, Canada.
A settlement or state which is highly connected with other places and through which an unusually large volume of global flows are channelled.
Global middle class
People with discretionary income they can spend on consumer goods.
Core and periphery
In the past, the developed world regions of Europe and North America exploited the human and natural resources of the much larger and less developed regions of Asia, Africa and Latin America.
The four fast-growing economies of Mexico, Indonesia, Nigeria and Turkey.
Structural adjustment programmes (SAPs)
These are money borrowing rules designed to help avoid financial mismanagement by encouraging fiscal prudence.
Provider of microloans in Bangladesh.
Spatial division of labour
The common practice among TNCs of moving low-skilled work abroad (or 'offshore') to places where labour costs are low.
This involves TNCs moving parts of their own production process (factories or offices) to other countries to reduce labour or other costs.
When an international corporate merger takes place, two firms in different countries join forces to create a single entity.
This involves two companies forming a partnership to handle business in a particular territory (but without actually merging to become a single entity).
Global production network (GPN)
A chain of connected suppliers of parts and materials that contribute to the manufacturing or assembly of the consumer goods.
A philosophy to managing economies and societies that takes the view that government interference should be kept to a minimum and that problems are best left for market forces to solve.
The positive impacts on peripheral regions (and poorer people) caused by the creation of wealth in core regions (and among richer people).
Voluntary international organizations 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 (SEZ)
An industrial area, often near a coastline, where favourable conditions are created to attract foreign TNCs.
Heightened connectivity changes our conception of time, distance and potential barriers to the migration of people, goods, money and information.
Shrinking world effect.
As travel times fall due to new inventions, that different places approach each other in 'space-time', they begin to feel closer together than in the past.
Parts of the physical environment that are used to satisfy human needs and wants.
This means linking together different relevant themes you have studied in order to carry out your discussion or examination.
Also known as the paradox of plenty, refers to the paradox that countries with an abundance of natural resources, tend to have less economic growth, less democracy, and worse development outcomes than countries with fewer natural resources.
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