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16 Cards in this Set
- Front
- Back
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the process in which trade and culture link together countries around the world
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globalization
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a relationship among countries in which they depend on one another for resources, goods and services
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interdependence
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industrial, strong economy, high standard of living. ex. US and Japan
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developed countries
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low standard of living, less productive economy, lack of adequate education and healthcare. ex. Guatemala and Philippines
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developing countries
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poverty, lack social and political stability, war conflict. ex. Africa and Southern Asia
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least developed countries
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large companies that operate in multiple countries
ex) mcdonalds |
multinational corporations
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the practice of having work done elsewhere to cut costs or increase production
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outsourcing
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the exchange of goods among nations without trade barriers, such as tariffs
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free trade
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group that promotes free trade and deals with economic issues with neighboring nations. ex. EU, NAFTA, ASEAN, SADC
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regional trade blocs
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culture traits such as food, sports and music that are common within a group of people
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popular culture
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the spread of culture traits from one region to another
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cultural diffusion
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125 members (in 1995), worked to reduce tariffs and other international trade barriers, replaced by WTO
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general agreement on tariffs and trade (GATT)
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nearly 150 members, promotes lower trade barriers
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world trade organization (WTO)
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8 major industrial democracies; discuss international, economic, environmental and other issues
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group of 8 (G-8)
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12 major oil exporting countries, mostly in middle east, coordinate oil policies of members
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organization of petroleum exporting countries (OPEC)
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27 European nations; work for European economic and political integration
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European union (EU)
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