► Globalization is the process of creating networks at multi-continental distances, mediated through a variety of flows, including people, information, capital and goods.
► The main actors of this process are not states anymore but TNCs. Globalization erodes national boundaries and integrates national economies and cultures. Some countries, like the United Kingdom, seem to be more prepared to benefit from this process.
► Gross Domestic Product (GDP): sum of the gross values added of all resident units engaged in production.
► twenty-foot equivalent unit (TEU): unit of cargo capacity. It is based on the volume of a 20-foot-long (6.1 m) intermodal container, a standard-sized metal box.
► More Economically Developed Countries (MEDCs) or industrialized nations: North America, Western Europe and Japan.
► Newly Industrialized Countries (NICs): most of the Southeast Asian countries (Singapore, Taiwan, Indonesia…).
► BRICS: association of 5 major countries (Brazil, Russia, India, China and South Africa).
► emerging countries: countries with a strong economy and developing over a longer period (Pakistan, Iran, Persian Gulf States, much of South America, and Eastern European countries).
► developing countries: 76% of the world’s countries (most countries in Africa, Central America, Central and South Asia – Laos, Bangladesh… – and the Middle East).
► Less Developed Countries (LDC) or failed states: countries with long-term civil war or large-scale breakdown (Afghanistan, Haiti, Somalia, Myanmar, North Korea).