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23 Cards in this Set
- Front
- Back
Global Interaction |
Ways in which countries interact through SEEP (Social, Economic, Environmental and Political) Factors. |
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Globalisation |
Growing independence of countries worldwide. |
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Transactions |
Interactions between two parties. |
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Interdependence |
Being mutually reliant. |
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Capital Flows |
Movement of money |
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Diffusion |
Spread of the “globalisation” |
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Core |
Centralised spaces that control |
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Periphery |
The outer edges or limits of an area |
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International Economy |
Across international borders |
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Global Economy |
Trades goods by MNCs (Multinational Corporations) via networks of international trade |
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MNC |
Multinational Corporation. It generates or increases trade between countries |
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Transnational |
Interdependent trade |
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Time-Space Convergence |
Reductions in the time taken for ideas and people to travel. (shrinking world) |
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Distance decay |
reduced connections between areas the further they are away from each other. This has reduced because of improvements in transport and increased interaction through ICT which have brought places closer together. |
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The Frictional Decay of Distance |
refers to how the further away something is, the less interactions are between the things. It also refers to ‘Distance Decay’. |
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ICT |
Information and Communications Technology. These show how the world has ‘shrunk’ because of the ‘digital divide’. People can talk to each other across the world as if they were in the same room without a problem. |
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Developments in Transport Technology: |
○ Increased speed and efficiency ○ Decreased cost of development and information across the planet. |
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Network: |
An arrangement of connections (points, lines, and spaces) |
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Civil Society |
The arena of collective action by independent organizations or groups based on shared interests, purposes, and values. Non-government groups or private individuals. |
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Types of Financial flows: |
Loans, Debt Repayment, Development Aid, remittances, Foreign Direct Investment (FDI), Repatriation of profits |
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World Bank |
achieving of the MDGs. The World Bank is criticised for its free market reform policies which may not be the idea of a lending service to 3rd world countries. suitable for the country. Small group of nation which run it may exploit their own countries |
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● World Trade Organisation (WTO) |
Deals with the rules of trade on a global or near-global level. |
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● International Monetary Fund (IMF) |
Created to stabilize international exchange rates Loans are given out to spread income. Criticised for support military dictators and increasing the taxes in countries which cannot afford to pay |