12 Globalization and Interdependence Free Online FlashCards

What is globalization?

Globalization is the growing connection of societies and economies across national borders.

What does interdependence mean?

Interdependence is the way people and countries rely on one another through cross-border connections.

Which technologies helped accelerate globalization from the nineteenth century?

Steamships, railways, and telegraphs helped accelerate globalization from the nineteenth century by speeding long-distance movement and communication.

What is a global value chain?

A global value chain is a production process in which stages such as design, production, assembly, and sale take place in different economies.

What is foreign direct investment?

Foreign direct investment occurs when a company invests in or controls business operations abroad.

What are remittances?

Remittances are money migrants send to relatives or communities in their places of origin.

How can digital networks make services available internationally?

Digital networks enable cross-border services such as software, design, and online education without shipping a physical product.

What is one benefit and one concern of cultural exchange?

Cultural exchange can encourage creativity and understanding, but it may also raise concerns about cultural loss or dominance by widely distributed cultural products.

Does interdependence mean countries have equal influence?

Interdependence does not mean countries have equal influence or depend on one another equally.

How can a supply-chain disruption affect production abroad?

A disruption to one supplier or shipping route can affect production in other places that depend on it.

How can financial connections spread instability between countries?

A sudden loss of investor confidence in one country can prompt withdrawals elsewhere, transmitting financial instability across borders.

Name one opportunity and one risk associated with migration.

Migration can fill labor needs and enrich societies, but migrants may also face exploitation, discrimination, or barriers to basic services.