Key Players
This organization oversees global trade rules
World Trade Organisation
This policy reduces tariffs and promotes free trade between countries
Trade liberalisation
This global network enables instant communication and commerce across borders
Internet
This process refers to the increase exchange of goods, services, and capital
Globalization
The global spread of fast food is an example of this cultural phenomenon
Cultural Homogenization.
These entities invest in foreign countries and spread production globally
Multinational corporations
National governments use this tool to attract Foreign Direct Investments (FDI)
Tax incentives
This type of platform allows businesses to sell products across the globe with a few clicks
E-commerce
The largest exporter in the world by value
China
This concept refers to workers moving to different countries for better job opportunities
Labour Migration
This financial institution offers short-term loans to countries in economic crisis
IMF
Removing government controls over markets is known as this process.
Deregulation
These systems have made global coordination of supply chains more efficient
ICT
These goods are traded without any government restriction or tariffs
Free trade goods
NGOs advocate for this in the global supply chain, ensuring fair wages and conditions.
Labour Rights
This group of 20 major economies meet to discuss and coordinate global economic policies
G20
This trade agreement connects the economies of the US, Canada and Mexico.
NAFTA or USMCA
This type of innovation is crucial in connecting financial markets globally
Financial Technology
This agreement replaced NAFTA in 2020
USMCA
This term describes how globalisation can lead to the loss of local cultures and traditions.
Cultural Erosion
This trade bloc promotes economic integration among European countries
European union
This term refers to countries attempts to protect domestic industries by restricting imports.
Protectionism.
Technology enabling the remote work revolution, which globalizes labour markets
Cloud Computing
This shipping innovation greatly increased the speed and reduced the cost of international trade
Containerisation.
This term refers to the interconnectedness and interdependence of global citizens
Global Citizenship