Globalization - the increase of trade around the world, especially by large companies

producing and trading goods in many different countries

Political globalization - refers to the amount of political co-operation that exists between
different countries.
economic globalization - refers to the mobility of people, capital, technology, goods and
services internationally
cultural globalization - Cultural globalization refers to the transmission of ideas, meanings,
and values around the world in such a way as to extend and intensify social relations
global economy - the system of industry and trade around the world that has developed as the
result of globalization
global trade - trade in products, services, etc. between different countries
global market - all the people in all areas of the world who buy or might want to buy
something
free market - The free market is an economic system based on supply and demand with little
or no government control.
intertwined - twisted together or closely connected so as to be difficult to separate
interconnected - with different parts or things connected or related to each other
sustainable prosperity - the state of being successful and having a lot of money which is
able to continue over a period of time
to accelerate - to happen or make something happen sooner or faster
developing country - a country with little industrial and economic activity and where people
generally have low incomes
developed country - a country with a lot of industrial activity and where people generally
have high incomes
high/low standard of living - the amount of money and comfort people have in a particular
society
emerging economies/markets - beginning to have economic power or success
gross domestic product GDP - the total value of goods and services produced by a country
in one year
(economic) disparity - a situation in which two or more things are not equal or similar,
especially when this is thought to be unfair
global village -
the World Trade Organization(WTO) - an organization that tries to control international
trade and make it easier
the North American Free Trade Agreement (NAFTA) - a treaty between Canada, Mexico
and the United States (The three signatories agreed to remove trade barriers between them)
protectionism - the actions of a government to help its country's trade or industry by taxing
goods bought from other countries
trade barrier - something such as an import tax or a limit on the amount of goods that can be
imported that makes international trade more difficult or expensive
import quota - the amount of goods that a country allows to be imported during a particular
period of time
tariffs - a tax on goods coming into or going out of a country (e.g. The government may
impose tariffs on imported foods)
international trade - The exchange of goods or services along international borders.
free flow of capital and labour (free-flowing - easily available in large amounts)
offshore outsourcing - Work done for a company by people in another country that it
typically done at a much cheaper cost.

moving production lines to developing countries - a line of machines and workers in a

factory that a product moves along while it is being built or produced.
cheap labour - workers, especially people who do practical work with their hands
exploitation - the use of something in order to get an advantage from it
appalling working conditions – interesting conditions in which an individual or staff works,
including but not limited to such things as amenities, physical environment, stress and noise
levels, degree of safety or danger
sweatshops - a small factory where workers are paid very little and work many hours in very
bad conditions
inequality - the unfair situation in society when some people have more opportunities,
money, etc. than other people:
closing down factories - a sale/factory in which items are sold cheaply before a shop goes out
of business
cultural heritage - an expression of the ways of living developed by a community and passed
on from generation to generation, including customs, practices, places, objects, artistic
expressions and values
loss of cultural identity - feeling of belonging to a group. It is part of a person's self-
conception and self-perception and is related to nationality, ethnicity, religion, social class,
generation, locality or any kind of social group that has its own distinct culture
cultural imperialism - the fact of the culture of a large and powerful country, organization,
etc. having a great influence on another less powerful country, etc
Americanization - to become or make something typical of the US or US culture
westernization of culture - the process of westernizing a person or a country (= causing ideas
or ways of life that are common in North America and western Europe to be more used and
accepted)
cultural homogenization - cultural homogenization occurs naturally when the society
emphasizes or de-emphasizes aspects of your identity
cultural convergence - cultural convergence is the theory that two cultures will be more and
more like each other as their interactions increase.
cultural diversity –is the divide in culture into different directions, usually because the two
cultures have become so dissimilar.
cultural divergence - the existence of a variety of cultural or ethnic groups within a society
clash of civilizations/cultures - a conflict arising from the interaction of people with different
cultural values
disappearance of cultures/languages/cultural diversity/local colour – the fact of someone
or something disappearing:
local colour - the special or unusual features of a place, especially as described or shown in a
story, picture, or film to make it seem more real
brain drain - the situation in which large numbers of educated and very skilled people leave
their own country to live and work in another one where pay and conditions are better
global village - all the countries of the world when thought of as being closely connected by
modern communication and trade
consumerism - a situation involving large amounts of goods being sold to individuals rather
than businesses, especially when this is very important to an economy
the United Nations (UN) - an international organization that was established in 1945 and
aims to solve world problems in a peaceful way
refugee- a person who has escaped from their own country for political, religious, or
economic reasons or because of a war:
migrant- a person that travels to a different country or place, often in order to find work
global warming - a gradual increase in world temperatures caused by gases such as carbon
dioxide that are collecting in the air around the earth and stopping heat escaping into space