Globalization and Diversity: Key Concepts and Impacts

Unit 5 — Globalization and Diversity in the World

Global Village

Global village: The term refers to the idea that, because of the speed of communications, all of human society begins to change its lifestyle and becomes similar to that of a village. Due to technological progress, all the inhabitants of the planet begin to know each other and to communicate instantly and directly. This profound connection between all regions of the world creates a powerful network of mutual dependencies and thus promotes both solidarity and the struggle for the same ideals, for example in ecology and economy in pursuit of sustainable development on Earth. The term global village was possibly coined by the Canadian sociologist Marshall McLuhan as an expression of the exponentially growing global human interconnectedness generated by electronic media. In 1968 McLuhan wrote the book War and Peace in the Global Village. As a paradigm of a global village, McLuhan chose television, a medium of mass communication that at the time was beginning to operate at an international level via satellite.

Fee

Fee: Tax on the price of a good imported into a country.

Trade Balance

Trade balance: This is the indicator that collects the value of all exports and imports of goods of a country for a period of time, usually one year.

Quality of Life

Quality of life: A concept that integrates the physical, mental, and social environment as perceived by each individual and group. It also depends on the characteristics of the environment in which the process takes place (urban or rural).

Business Competition

Business competition: Market competition is a powerful mechanism for the proper functioning of the economy. When several competitors selling similar products compete in a market to gain the favor of consumers, they strive to offer better deals, products, and services. The best deal may be a better product, better quality, good service, or a lower price. A cardinal rule of competition is that agreements between competitors or abusive conduct by operators with market power that restrain the process of competition are not allowed, because they hurt consumers.

Globalisation

Globalisation: An economic and cultural process of a spontaneous nature characterized by the growing interdependence and integration of individual national economies. It is due to the rapid and widespread diffusion of technology in telecommunications and transport, the high mobility of capital, and the establishment of multinationals across the globe.

Development

Development: The process of growth of an economy applying new technologies and social changes, resulting in a better distribution of wealth and income. The level can be measured by GDP and other indicators.

Centre / Periphery

Centre / Periphery: Developed / undeveloped zones, that is, areas dependent on the most developed regions.