10.2 Flashcards
1
Q
What is the primary goal of countries adopting economic liberalization policies?
A
To help an economy while lowering inflation.
2
Q
What was one of China’s first market initiatives?
A
Creating special economic zones to encourage foreign investment
3
Q
What are the three characteristics of special economic zones?
A
- Necessary infrastructure
- Abundant labor force
- Promise of reduced bureaucracy
4
Q
What event occurred in Nigeria in October 2020?
A
Protests erupted after the government raised the price of fuel and electricity
5
Q
Since when has Nigeria’s expenditure on subsidies for imports fluctuated?
A
Since 2006
6
Q
Which core country has the least control over natural resources?
A
The U.K.
7
Q
Why did Russia re-nationalize oil?
A
To reduce FDI and increase government revenue
8
Q
Which countries nationalized natural resources to maintain power and influence?
A
- China
- Iran
- Russia
