Glossary - The Globalization Debate
‘the one percent’
products to be sold
work done for others, for payment
the buying and selling of goods or services
The buying and selling of goods, especially on a large scale, as between cities or nations.
Money, time or energy given now for future benefits
A commercial treaty between two or more nations
to have control over others
To combine or unite into a single entity
Something useful that can be turned to commercial or other advantage
An entity such as a business, that involves more than one person but that has met the legal requirements to operate as a single person, so that it may enter into contracts and engage in transactions under its own identity.
A very large corporation made up of a number of different companies that operate in diversified fields.
Physical work done
Wealth, especially in the form of financial or physical assets, used in the production or accumulation of more wealth.
An unprocessed natural product used in manufacture.
the practice of moving a company's operating base to a foreign country where labour costs are cheaper
One that consumes, especially one that acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing.
a successful, flourishing, or thriving condition
A country that is not wealthy but has a growing economy.
The extension of a nation's authority by territorial acquisition or by the establishment of economic and political dominance over other nations.
The richest one percent of the population in the global world
To weaken by wearing away a base or foundation
Serving as or conforming to an established or accepted measurement or value
They are shipping the goods all the way from China
I think the service at this restaurant is great
Trade is up 5% on last month.
Commerce is the backbone of the economy
China is investing a lot of money into Africa right now.
I don’t think this trade agreement will help small businesses at all.
America was the dominant culture of the 20th Century.
The two companies will probably merge next year.
Gold, oil, copper and natural gas are all traded as commodities in the global markets.
There are many large corporations in the business world today
It will become the largest conglomerate in the world!
The cost of labour in western countries is high compared to Asia.
He was very wealthy and had a lot of capital to invest
The African continent is rich in raw materials
Coca Cola and Nike are just two of the many well known brands who offshore their production.
Countries rely on consumers to keep the economy going
He has been very successful and prosperous.
Of all the developing countries, perhaps, India will be the most successful into the next century.
Many European countries have apologized for their imperialistic past
The combined wealth of the richest 1 percent will overtake that of the other 99 percent of people in 2016.
The team was undermined by the players arguing too much
This is the standard size that fits all