The movement of money for the purpose of investment, trade or to produce goods/provide services. Usually regarded as investment into a production operation.
A process by which national economies, societies and cultures have become increasingly integrated through the global network of trade, communication, transportation and immigration.
The exchange of capital, goods and services across international borders. Inbound trade is defined as imports and outbound trade as exports.
An acronym used to identify a group of four countries - Brazil, Russia, India and China - whose economies have advanced rapidly since the 1990s.
A large group of people with a similar heritage or homeland who have moved and settled in places all over the world.
Refers to a loss of income from an economic system. It most usually refers to the profits sent back to their base country by transnational corporations - also known as profit repatriation.
An acronym referring to the more recently emerging economies of Mexico, Indonesia, Nigeria and Turkey.
A system of standardised transport that uses large standard-size steel containers to transport goods. The containers can be transferred between ships, trains and lorries, enabling cheaper, efficient transport.
A deliberate policy by government to impose restrictions on trade in goods and services with other countries - usually done with the intention of protecting home-based industries from foreign competition.
A tax or duty placed on imported goods with the intention of making them more expensive to consumers so that they do not sell at a lower price than home-based goods - a strategy of protectionism.
A collection of different companies or organisations which may be involved in different business activities but all report to one parent company - most transnational corporations are conglomerates.
Economies of scale
The cost advantages that result from the larger size, output or scale of an operation as savings are made by spreading the costs or by rationalising operations.
A manufacturing operation (plant or factory) located in free trade zones in Mexico. They import materials for assembly and then export the final product without any trade barriers.
When local people are consulted and supported in making decisions to undertake projects or developments that meet one or more of their specific needs.
When the decision to undertake projects or developments is made by a central authority such as government with little or no consultation with the local people whom it will affect.
An agreement on trade (or aid) that is negotiated between two countries or two groups of countries.
A group formed by countries in geographical proximity in which trade barriers for goods and services are eliminated. (This may eventually apply to removing any labour market restrictions, as in the EU.)
A trade bloc which allows free trade with no barriers between its member states but imposes a common external tariff to trading countries outside the bloc (for example, the European Union).
An agreement negotiated between more than two countries or groups of countries at the same time.
A cost saving strategy used by companies who arrange for goods or services to be produced or provided by other companies, usually at a location where costs are lower.
When companies in similar industries locate near to each other because of the benefits gained by sharing ideas and resources - called 'agglomeration economies'.
A situation where an initial injection of investment or capital into an economy (at any scale) in turn creates additional income by, for example, increasing employment, wages, spending and tax revenues.
A term used to describe products or services that are distributed globally but which are fashioned to appeal to the consumers in a local market.
A state in which the demands placed on the environment can be met without reducing the quality of the environment for the future.
Resource domains or areas that lie outside the political reach of any one nation state.
A movement of political integration aimed at negotiating responses to problems that affect more than one state or region.
Non-government organisations (NGOs)
Any non-profit, voluntary citizens' group with a common interest, which is organised on a local, national or international level. Sometimes referred to as a 'civil society organisation' (CSO).
An international organisation founded in 1945 made up of 193 member states whose aim is to promote international peace and co-operation.
Development which recognises that the needs of the present have to be met but doing this without affecting the needs of future generations.
A curve continuously encircling Antarctica where cold northward flowing Antarctic waters meet the relatively warmer waters of the sub-Antarctic.
Any alteration or adjustment in the structure or function of an organism or system which enables it to survive better in changing environmental conditions.
Includes any actions, strategies, measures or projects undertaken (by mankind) to offset the known detrimental impacts of a process.
The amount of disturbance that an ecosystem can withstand without changing existing structures and processes.
Factor of production defined as the aggregate of all human physical and mental effort used to create goods or provide services.
Liberalisation of trade
no boundaries to trade, everyone should be able to trade with each other, level playing field but rules are all made by HICs so are all in our favour.
large companies with offices all over the world, head office in rich country and factory in a poor company e.g google, apple, McDonalds
the movement of departments of a large organisation away from a single administrative centre to other locations e.g BBC
Divison of labour
the spatial shift of manufacturing industries from advanced capitalist countries to developing countries
a dynamic economy of one of the smaller East Asian countries, especially that of Singapore, Taiwan, or South Korea.
filtering down of manufacturing industry from developed countries to lower wage economies
Transfer of Technology
filtering down of technology from developed countries to lower wage economies
process of social and economic change caused by the removal or reduction of industrial capacity or activity in a country or region, especially heavy industry or manufacturing industry. It is the opposite of industrialisation.
The region encompassing a trade bloc whose member countries have signed a free-trade agreement (FTA)
A set of countries which engage in international trade together, and are usually related through a free trade agreement or other association.
companies that can locate anywhere and advancing tech means they can still service their customers worldwide.