101688
Description
Flashcards by Iain Graham, updated more than 1 year ago
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Created by Iain Graham
over 11 years ago
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| Question | Answer |
| Transnational corporation | incorporated or unincorporated enterprises comprising parent enterprises and their foreign affiliates (subsidiaries, associates and branches). a flagship company that holds decision-making powers over entities such as subsidiaries and joint ventures operating in other countries than its home country. |
| Fordism | Mass production labour involving assembly-line production, managerial hierarchy and a technical division of labour, based on standardisation |
| Post-Fordism | patterns of ‘flexible production’, greater responsiveness towards labour and working conditions amongst producers and new capabilities allowing for ‘just in time’ production. The ‘just in time’ system is based on production according to actual demand |
| global production networks | where the production process for a single product occurred in a number of different firms based in developing and advanced countries |
| De-coupling | separation of product design and development (performed by TNCs) from physical production (organized by contract manufacturing firms). Ernst |
| Sweatshops | Profits are said to be ‘sweated’ out of labourers who work longer and faster under poor working conditions for low wages with no respect to local labour laws mandating overtime pay or a minimum wage |
| race to the bottom | TNCs are accused of relocating their manufacturing plants, outsourcing centres and even R&D set-ups as a way of reaping maximum returns. |
| Global knowledge diffusion | Once a local firm assimilates basic level capabilities, TNCs can transfer more sophisticated knowledge including product and process development, that is, moving local companies higher up the value chain. Gradually this enables local suppliers to acquire new capabilities. |
| Soft power | influencing others without resorting to military threats, using trade, diplomacy and infrastructure deals. The ability to secure goals through co-option and attraction rather than force or coercion (Nye) |
| Hegemony | the complex power of a dominant actor(s) over others, including political, economic and cultural dimensions. A structure of values and understandings about the nature of order that permeates a whole system of states and non-state entities, which appears as the natural order. (Gramsci/Cox) |
| Rising power | a country growing rapidly and moving up the rank of world economies, a centre of production/consumption, rapidly industrialising, with a strong sense of national purpose. |
| Diplomacy | the ordered negotiations intended to smooth the functioning of inter-state relations |
| International law | seeks to enshrine the principles of sovereignty into a variety of international interaction; Law that governs the conduct of independent nations in their relationships with one another. |
| Society of states | a group of states, conscious of certain common interests and common values, are bound by a common set of rules in their relations with one another, and share in the working of common institutions. |
| Gross Domestic Product | a sum of value of the production that takes place within the boundaries of a state |
| Gross National Product | the sum of value of production of all citizens of a country, not necessarily within country boundaries |
| Imperialism | the creation and maintenance of an unequal economic, cultural and territorial relationship, usually between states and often in the form of an empire, based on domination and subordination’ |
| Primary Sector | refers to income generated from growing or extracting raw materials from the earth and includes agriculture, forestry, farming, fishing and mining |
| Secondary Sector | economic activity in the industrial and infrastructure sector. |
| Tertiary Sector | The services sector, and includes all businesses involved in retail and wholesale sales, tourism, financial services (such as banking and insurance), health care and transportation |
| Structural power | the power to shape and determine the structures of the global political economy within which other states, their political institutions, their enterprises and (not least) their scientists and other professional people have to operate’ (Strange) |
| Pyramid of power | How structural power is perceived, disaggregated into: control over production; control over finance and credit; control over knowledge and ideas; control over people’s security |
| Rural-urban migration | As the industrial sector grows, generating more employment opportunities, people move from rural to urban areas. As industrialization becomes more grounded, a larger share of a |
| Zero-sum | where the gains for one actor are matched by the losses of another actor |
| East Asian Tigers | States in East and South Eastern Asia which exhibited strong economic growth in the 1980s and 1990s, moving from moved from being an agriculture-based economy towards an industrial- and service-based economy. |
| Positive-sum | where the sum of the benefits minus the overall losses is positive. This does not mean that both actors have to gain, so long as the sum is positive at the end. There can be occasions where one gains and another loses or where one gains but another gains much more |
| Developing countries | a large portion of the population lies in the lower- rather than the middle-income groups |
| Elasticity of demand | the ratio of the percent change in demand to the percent change in income. If the change in demand is less than proportionate than the change in income, a good is said to have low-income? |
| Newly Industrializing Countries | States beginning to industrialise, with an export-oriented policy backed up by a strong and centralized state |
| Drivers of change | related to the importance of their size (size drivers), the second is related to their consumer behaviour or markets (market drivers). The impacts generated through these roles are felt by both the developed and developing world |
| Rising powers framework | six major channels through which states interact with and impact upon the global economy: trade, investment, aid, global governance, migration and the environment, allowing for both direct and indirect impacts on individual sectors within states, at a national level and within the global economy. Takes positive-sum and zero-sum effects, and divides them across the six major channels |
| Structural Adjustment Programmes (SAPs) | programmes which arose out of the problems of debt and the logic of liberalization, enforced virulently once the ideological counterweight of the Soviet ‘threat’ had ended - known as the ‘Washington Consensus’ |
| Foreign Direct Investment | an investment made to acquire lasting interest in enterprises operating outside of the economy of the investor |
| Brain circulation | connections and interactions are on-going and dynamic, eg. those highly educated software and other high-tech engineers who were educated in the USA are now the motivating forces for setting up firms in their ‘home’ countries. |
| Global cities | act as hubs for the networks that sustain the global economy. They can be thought of as transmission points, coordinating the flow of local, regional and national resources, goods, money, people and information, around the globe and back again. |
| Brain drain | the outward flow of skilled people from the developing world arising from the negative consequences on growth and income levels back home |
| Brain gain | the knowledge and skills contribution of migrants outside of their country as potential resources for the socio-economic development of their home country |
| Realism | the international system is composed of nation states, and these states exist in a relationship of anarchy. self-interested states strive to increase their power and security |
| Diaspora | A migrant community originating from a single place but spread around the world, yet still connected to that original place in terms of their identity if not their physical connections |
| Structural realism | The structure of the international system ultimately determines the behaviour of states in that system. All states, regardless of their domestic character, are similar, and all are ultimately concerned with self-preservation (Waltz). |
| Networks of exchanges | Economic links enabled by international mobility, with diasporic individuals returning to their ‘homeland’ or doing business there |
| Liberalism | the defining feature of international order is not anarchy but interdependence, depending on how states interact with each other, and this in turn is strongly influenced by the domestic character of such states - interdependence can promote shared, mutual interests, and the international order can and does change. |
| Marxism | The international order is above all a capitalist order. Ultimately the state represents the interests of the capitalist class |
| Defensive realist approach | Implies that China’s rise might be exaggerated, or at least it is not so significant that it can present a real threat to US hegemony in the foreseeable future |
| Beijing Consensus | China’s path for other states trying to figure out not simply how to develop their countries, but also how to fit into the international order in a way that allows them to be truly independent, to protect their way of life and political choices in a world with a single massively powerful centre of gravity (Ramo). China is developing bilateral and regional ties with the different parts of the developing world, facilitated by closer trade and investment ties |
| Leninism | International expansion of capital is a process full of conflict, as each power seeks to maximize its share in an increasingly competitive and restricted world market through imperialism. Tensions within the international order made cooperation in the long run unfeasible. |
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