Definitions

• China's open door policy

  1978 - China allows foreign industry and TNCs in to promote a modern and thriving China.
• Containerisation

  A logistical system of transporting goods in steel containers (each carrying 25000kg of goods)
• Cultural diffusion

  The spread of cultural beliefs and social activities into different cultures
• Cultural erosion

  The reduction of a culture due to globalisation.
• Cumulative causation

  Like a multiplier effect, "Success breeds Success". As the core regions increase in prosperity the periphery regions will too due to their links with the core.
• Deindustrialisation

  A reduction in industrial capacity, leading to social and economic change within a region
• Diaspora

  'To scatter about’ - People displaced from their homeland, voluntarily or forced.
• Downward transition zones

  A country or city with predicted economic decline, industrial reduction or switched off from globalisation (e.g. Scotland, Turkey, Brazil)
• Economic migration

  Movement of migrants to improve financial income or standard of living.
• Foreign direct investment (FDI)

  An investment by one country or business with an

  interest in another country
• Global hubs

  Cores that demonstrate connections to the world (through trade, ideas, migration, etc). TNCs and foreign direct investors will show an interest to base here
• Globalisation

  The growing interdependence of countries through cross-border transactions (capital, technology, migration, knowledge, culture, etc).
• Glocalisation

  The adaptation of a good offered by a TNC to suit a local market
• Hyper-globaliser

  Someone who believes that globalisation and cultural diffusion is a positive process, which will lead to the formation of a homogeneous culture (one ‘super’ global culture)
• International Bank for Reconstruction & Development (IBRD) and World Bank Group (WBG)


  Both offer loans and temporary financial assistance to developing countries
• International money fund (IMF)

  A fund of 189 member countries with the aim to aid each other to achieve financial stability and provide loans for development.
• KOF

  Index of Globalisation which takes into account the social, economic and political globalisation of a state
• Liberalisation

  A reduction in government control within industry, creating opportunity for greater participation from private businesses and TNCs within an industry
• Offshoring

  Company moves parts of its operations to another country, often to save money.
• Outsourcing

  A business contracts outside businesses to complete some of their work, with the aim to reduce costs
• Potential areas of growth

  Regions where future economic development are predicted due to their undeveloped resources (e.g. Canada, Qatar).
• Privatisation

  When national public services become owned by private businesses.
• Sovereignty

  Control over a country's own laws and regulations
• Special economic zones

  Regions where the government offer incentives to attract industry
• Transnational company (TNC)

  A company which operates in different countries to where they are originally based.
• Trade bloc

  A group of countries that act together to promote trade and a free movement of goods/services between member states
• Transformationalist

  This is the belief that globalisation won’t lead to the formation of a homogeneous culture. Instead, the flow of culture is two-way
• Upward transition zones

  A country or city with predicted industrial and economic increase (e.g. Mexico, Iceland, “The Asian Tigers”)
• World trade organisation (WTO)

  Members seek substantial reductions on tariffs and trade barriers and the elimination of preferences on a mutually advantageous basis.
• Economic globalisation

  • The growth of transnational corporations (TNCs) accelerates cross-border trade of raw materials, components, manufactured goods and shares
  • information and communications technology (ICT) supports the growth of complex spatial divisions of labour and a more international economy
  • example, online purchasing from Amazon on a phone
• social globalisation

  • international immigration has created extensive family networks that cross borders - cities and societies become multi-ethnic
  • global improvements in education and healthcare can be seen with rising world life expectancy and literacy levels although changes are not distributed evenly around the world
  • social interconnectivity has grown over time thanks to the spread of ‘universal‘ connections like phone, internet and e-mails
• Political globalisation

  • the growth of trading blocs (eg EU, NAFTA) allows TNCs to merge and make acquisitions in neighbouring countries ,while reduced trade restrictions and tariffs help market to grow
  • global concerns like free trade, credit crunch and the global response to natural disasters like the 2011 Tohoku tsunami
  • the world bank, international money fund (IMF), and world trade organisation (WTO) work internationally to harmonise national economies
• Cultural globalisation

  • ‘Successful’ western cultural traits start to dominate some territories eg Americanisation/westernisation or fashion and taste
  • globalisation and hybridisation are more complex outcomes that take place as old local cultures merge with globalising influences
  • the circulation of ideas and information has accelerated thanks to 24 hour reporting and social media like Facebook and twitter
• Depth of global connections

  • shallow -Sudan - developing countries where the poorest could still be isolated from global influences but there could be some links for aid
  • medium- Brazil- emerging countries where poor people may rely on local produce but work for foreign firms and are culturally/politically aware
  • deep-UK- developed countries where most people are affluent consumers of global products and cultures, people also are widely travelled
• Space-time compression

  A set of processes that cause relative distances like travel time and cost between places to become less, making places seem closer
• Gross domestic product (GDP)


  A monetary measure of all final goods and services product in a set time of places at market value
• Spatial division of labour

  cheaper production due to lower wages and transport costs
• Emerging economies

  Economy of a developing nation that is becoming more engaged globally
• Migrant remittances

  Money transfers from residents of one country to another
• schengen agreement 


  allows people who are from countries that have signed the agreement to move across most EU borders without being subject to border checks