Global Interactions Notes

Globalization

Globalization

The growing interdependence of countries worldwide through cross-border transactions in goods and services, international capital flows, and the diffusion of technology.

Glocalization

The adaptation of a global product or service to the specific needs and preferences of local cultures or localities.

Transnational Corporations (TNCs)

Companies with branches in multiple countries that operate globally, such as Coca-Cola, Apple, and McDonald's.

Transportation improvements

Enhancements in transportation systems that facilitate the movement of goods, services, and people across different locations, such as faster airplanes, improved road networks, and larger container ships.

Freedom of trade

Agreements and organizations that promote the free movement of goods, services, ideas, and labor between member countries, such as the EU, NAFTA, ECOWAS, and COMESUR.

Improvements in communications

Technological advancements in telecommunication and the Internet that enable the exchange of ideas and services globally.

Cheap labor in developing countries

The availability of low-cost labor in developing countries, often facilitated by technology and outsourcing, allowing services to be performed in different parts of the world.

The KOF Index of Globalization

An index introduced by the KOF Swiss Institute of Business Cycle Research that measures the economic, social, and political dimensions of globalization.

A.T Kearney Index

An index published by the management consultancy firm A.T Kearney in the Foreign Policy Magazine, assessing the global integration of the world's most populous nations using various variables.

Multi-governmental Organizations (MGOs)

Organizations or countries that come together to form a single entity for trading purposes, facilitating the free movement of goods, services, finance, and ideas, such as the EU, USMCA, SADEC, UEMOA, and ASEAN.

Export-processing zones

Areas where countries have access to goods they cannot produce on their own at lower prices, facilitate the transfer of skills, stabilize currency, and enable bilateral and multilateral relations for manufacturing companies.

UN Sustainable Development Goals

A set of goals established by the United Nations to promote human development, including eradicating poverty, ensuring quality education, gender equality, clean energy, sustainable cities, and more.

Human Development Index (HDI)

A measure developed by the United Nations that assesses human development based on life expectancy, education, and standard of living.

Gender inequality index (GII)

A measure that assesses gender inequality based on reproductive health, empowerment, and economic status.

Cultural diffusion

The spread of cultural traits from one place to another through cultural change processes, such as expansion diffusion and relocation diffusion.

Cultural hybridity

The extent to which different cultures are intermixed, often through migration, media, transport revolution, global brands, and the internet.

Cultural traits

Characteristics of a culture that give it a sense of identity and differentiate it from others.

Ethnicity

The shared sense of belonging to a particular ethnic group based on ancestral lineage or cultural history.

Cultural diversity

The differences in cultural characteristics manifested within a given culture, with diverse cultures being more heterogeneous.

Barriers to global interactions

Factors that hinder global interactions, including censorship of the internet, restrictions on migration, physical/environmental barriers, and the resurgence of nationalism and anti-globalization movements.

Geopolitical and Economic Risks

Threats to individuals and businesses in the global context, such as hacking, identity theft, surveillance implications, and political, economic, and physical risks to global supply chain flows.

Environmental Risks

Risks related to the environment in the context of global interactions, including transboundary pollution, localized pollution from global flows of goods, carbon footprints, and polluting manufacturing industries.

Local and Global Resilience

Strategies to build resilience in the face of global risks, including rejecting globalization, implementing mechanisms to control risks, and adapting to risks when they occur.