geography key terms- global systems and governance

Interdependence

Countries rely on each other to provide goods and services

Inequality

Not all transactions are fair, some actors assert more dominance than others

Interconnectedness

Places miles apart are intertwined through politics/ trade/ debt/ etc.

The shrinking world

the idea that space and land on earth doesn't seem so vast now countries are so interconnected to each other

International Trade

The movement of money for the purpose of investement, trade or to produce goods or provide services

Globalisation

A process by which national economies, societies and cultures have become increasingly integrated through the global network if trade, transport, communication and immigration

Capital Flows

The exchange of capital, goods and services across international borders. Inbound trade is imports and outbound is exports

Labour

Factor of production- human effirt (physical or mental) used to create or provide a good or service