GWS Midterm Globalization and Transnational Economies

Globalization

The process of integrating labor, capital, and resources into a global network by removing legal, political, and structural barriers to the free movement of corporations and capital

Multinational corporations (MNCs)

Companies that operate in multiple countries and choose the most profitable places to produce and sell their goods and services, regardless of national boundaries

BPOs

hiring an outside company to handle specific business tasks

Maquiladora

Factories built by US companies in Mexico near the US border to take advantage of much lower labor costs in Mexico.

NAFTA (North American Free Trade Agreement)

A 1994 trade agreement between the U.S., Canada, and Mexico that eliminated most tariffs and trade barriers to create a free‑trade zone across North America

Sex tourism

travel to a different locale specifically for the procurement of sexual services or encounters

Jinetera/o

Literally "rider"/"jockey" but used to mean a hustler who makes money through informal, semi‑legal, or illegal activities tied to tourism. Stereotypically portrayed as a working‑class Afro‑Cuban woman

Sanky panky

A Dominican term for a man who forms sexual or romantic relationships with foreign female tourists to gain money or financial support. It can also describe a woman who does the same with foreign male tourists