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18 Cards in this Set

  • Front
  • Back
Creative destruction
the withdrawal of investments from activities (and regions) that yield low rates of profit in order to reinvest in new activities (and new places)
Debt trap
syndrome of always having to borrow in order to fund development
a relative decline in industrial employment in core regions
high relative of reliance by a country on foreign enterprises, investments, or technology
Ecological footprint
a measure of the human pressures on the natural environment from the consumption of renewable resources and the production of pollution indicating how much space a population needs compared to what is available
principles for mass production based on assembly-line techniques, scientific management, mass consumption based on higher wages, and sophisticated advertising techniques
Foreign direct investment
the total of overseas business investments made by private companies
an estimate of the total value of all materials, foodstuffs, goods, and services produced by a country in a particular year; GNI includes the value of income from abroad
Import substitution
the process by which domestic producers provide goods or services that formerly were bought from foreign producers
the increase of printed currency that leads to higher prices and international financial differentials
International division of labor
the specialization by countries in particular products for export
economic principles in which the logic of mass production coupled with mass consumption is modified by the addition of more flexible production, distribution, and marketing systems
Newly industrialized countries
countries formerly peripheral within the world system that have acquired a significant industrial sector, usually through foreign direct investment
Quaternary activities
economic activities that deal with the handling and processing of knowledge and information
Sustainable development
a vision of development that seeks a balance among economic growth, environmental impacts, and social equity
Terms of trade
the ratio of prices at which exports and imports are exchanged
Transnational corporations
companies with investments and activities that span international boundaries and with subsidiary companies, factories, offices, or facilities in several countries
World cities
cities in which a disproportionate part of the world’s most important business is conducted