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Economic Globalization
The intensification and stretching of economic interrelations across the globe, marked by increasing integration of economies.
Global Production Networks (GPN)
The nexus of interconnected functions, operations, and transactions through which a specific product or service is produced, distributed, and consumed.
Foreign Direct Investment (FDI)
Investment made by a company or individual in one country in business interests in another country.
Bretton Woods System
An international monetary system established in 1944 to promote economic interdependence and stability post-World War II.
Neoliberalism
An economic philosophy advocating for free markets, reduced government intervention, and the promotion of free trade and open markets.
World Systems Theory
A theory suggesting that there is a world economic system in which some countries benefit while others are exploited, characterized by core, periphery, and semi-periphery areas.
Capital Flows
Refers to the movement of money for investing, trading, or business production.
Core Countries
Wealthy, industrialized countries that dominate and exploit peripheral countries for labor and resources.
Periphery Countries
Less developed countries that are dependent on core countries for capital.
Semi-Periphery Countries
Countries that share characteristics of both core and peripheral countries, contributing to manufacturing and exportation.
