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46 Cards in this Set
- Front
- Back
What is INTERNATIONALIZATION?
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The EXTENT to which different national eco INTERACT with one another
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What is GLOBALIZATION?
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1) Set processes through which ECO ACTIVITIES are increasingly INTERCONNECTED
2) Emergence of new set of actors on global stage 3) Changes that facilitate GLOBAL INTEGRATION |
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What is HYPERGLOBALIZATION?
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Belief that New world eco order: BORDERLESS ECO
NOT GOOD |
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What is the SKEPTICS?
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Eco globalization= overblown myth on mislabeling of internationalization
--> world was more integrated before |
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What is TRANSFORMALIST?
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Globalization= On going and transformative
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What are the QUARTERNARY activities?
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Handling and processing of KNOWLEDGE & info
(teaching, data processing) |
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When was the peak of America's Manufacturing belt?
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1950 --> FORDISM
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What does NY specialize in?
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Apparel ind
Processed foods Book publishing |
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What does NJ specialize in?
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PHARMACEUTICALS
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What does Pittsburg specialize in?
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STEEL
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What do the great lakes specialize in?
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DETROIT= Motor city
CHICAGO= Meat packing / trains |
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What does CDA specialize in?
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Mtl= Aerospace, alluminum, textile, pharmaceuticals
Southern ONT= Cars, steel, chemicals |
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San Francisco bay specializes in?
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SILICON VALLEY= Largest manu area for semi conductors & micro chips
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Seattle- Tacoma specializes in?
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Aircrafts & computers
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What are the 4 key industrial districts of Japan?
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1) KANTO PLAIN (Tokyo-Yokohama-Kawasaki) = #1 ind district
2) KANSAI District (Kobe-Kyoto-Osaka) 3) KITAKYUSHU district (conurbation of Kyushu islands) 4) TOYAMA district |
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What are the major industrial districts of China?
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1) Northeast district= Largest ind district
2) Chang district: 2nd largest 3) Guangdong District |
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What are the 4 main patterns of production?
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1) FROMAL SECTOR
2) INFORMAL SECTOR 3)DUALISM 4) PUBLIC GOODS |
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What is the FORMAL SECTOR?
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Recognized by state
Subject to LAW, REGULATION, TAXATION |
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What is the INFORMAL SECTOR?
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By pass state
small or family operation "working under the table" |
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What is DUALISM?
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Pattern of production that exists when extremes wealth & poverty live side by side in an eco
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What are PUBLIC GOODS?
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Pattern of production where Goods and services are provided communally (national defense)
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What are the Factors of production?
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LAND
LABOUR FINANCIAL CAPITAL |
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What are the different forms of Financial Capital?
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1) Physical capital:
-PRIVATE: (infrastrustures, equipment, buildings) -PUBLIC: facilities for health, education, transport 2) Government policies: Interest rates, money supplies, social investment |
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What are the different ways to measure wealth?
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- GDP
- PPP (purchasing power parity) |
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HDI?
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Measures country's human dev
-Longevity, knowledge, standard of living |
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GDP-HDI = ?
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GDP/cap
If positive= free services are offered |
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What is the TIME SPACE COMPRESSION?
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Processes that revolutionize the qualities of space and time such that the ways in which we represent the world are ALTERED
=1 of the factors that encompasses globalization |
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CDA in pre 19th C:
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CDA was part of the periphery= X staples to European core countries
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CDA in Mid 19th C:
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CDA X more to US that is beginning to industrialize
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When was the CDA/US auto pact?
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-1965
-Elimination of trade tariffs on cars and auto parts |
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1988 was important bc?
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CDA US Fair trade agreement
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1994 was important bc?
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NAFTA
US+ CDA+ MEXICO |
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What is the opportunity cost?
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EXCHANGE RATE
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Construction of CANAL of SUEZ?
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1869
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1st OPIUM WAR was?
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1840-42 between China and BEIC
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When was the MERCANTALIST PERIOD?
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16th- 19th Century
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What were the major trading systems during the mercantalist period?
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ATLANTIC TRADING SYSTEM (Cross Over system of trade)
EURASIAN trading system |
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What is the population LAG effect?
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Continued growth AFTER achievement of replacement level of fertility is reached
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For what reasons was there a RECESSION in late 1800s?
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- Britain battles with rivals in World Eco
-DDE increase in industrialized countries: cheaper raw materials, new opportunities for investment capital, protected lines of commerce |
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What characterized the period between 1850-1920?
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NEW ERA OF EMPIRE BUILDING:
ACCELERATED COLONIALISM in Asia, Pacific and Africa |
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What happened between 1720- 1780?
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INTERNATIONAL TRADE x2
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What are the POSITIVE effects of Globalization?
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-Increase in Trade, Innovation, Volatility
-Increased INTRA-FIRM trade -Job opportunities |
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What are the NEGATIVE impacts of Globalization?
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- LOSS of Domestic control over Nation's own economy
-Job losses |
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What are the tasks of economic society?
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1) Organize to produce enough goods and services to assure SURVIVAL
2) Arrange distribution of production so more production can take place 3) Answer fundamental questions: What,how, where, to whom and by whom |
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When and where did the Industrial Revolution start?
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BRITAIN
LATE 18C |
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What is the CROSS OVER SYSTEM of TRADE?
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System of MULTILATERAL trade established in the late 19C
Europe& N.A bought raw materials from less dev countries |