Global Systems and Governance | Key words (2)

globalisation

the increasing interconnectedness of countries through flows of trade, capital, people, technology, and ideas on a global scale

global governance

the ways in which global affairs are managed by international organisations, agreements, and institutions, without a single world government

transnational corporation (TNC)

a company that operates in more than one country, with production, investment, or services located across national borders

global production network (GPN)

the worldwide system of interconnected production stages, from raw materials to manufacturing and distribution, often spread across multiple countries

International Monetary Fund (IMF)

an international organisation that promotes global financial stability by providing loans, economic advice, and monitoring to countries

World Trade Organization (WTO)

a global organisation that regulates international trade, reduces trade barriers, and settles trade disputes between countries

neoliberalism

an economic approach that supports free markets, reduced government intervention, deregulation, and free trade to encourage economic growth.

interdependence

the mutual reliance between countries, where events or decisions in one place affect others due to global economic and political links

unequal power relations

the imbalance of influence between countries or organisations, often favouring developed countries and TNCs over developing nations

civil society

groups and organisations outside government and business (e.g., NGOs, charities, pressure groups) that influence global governance and policy