1.2 Accelerated Globalisation Flashcards
What does the WTO want
It wants trade liberalisation for goods and for countries to not just protect their own companies
How has the WTO benefitted Laos
Allowed Laos’s to trade directly with the EU rather than just its competition
What are the limitations of WTO (Ecuador)
Hasn’t stopped USA giving preferential treatment to own companies (Del Monte) making it harder for Ecuador to export bananas
What does the world bank do
Lend money and give grants all around the world (poverty reduction), imposing strict conditions
What does the IMF do
Channels loans from rich to poorer countries but poor countries have to agree to run free market economics and allow outside investment (Sierra Leone)
Creates a structural adjustment programme to help countries develop
What is India’s main river port
Kolkarta - 4 long distance train stations, only Indian city with trams, 5th biggest airport, rickshaws
How has steam/sailing ships developed
Easier to cross Atlantic
Improved port facilities in China allows more access points for trade (cheaper)
Example of high speed railway
Eurostar gives easy access to Europe
Low cost airlines
Ryanair, Wizzair, EasyJet
Standardised container shipping improvement
Goods unloaded and loaded faster, lowers costs and improves speeds (China- UK)
How do TNCS facilitate globalisation
Invest into growth of global hub airports (Heathrow creates networks of trickle down subcontracting (LSG skychefs))
Why was there economic failure before WW2
Due to protectionism and countries blocking other countries imports
Growth after WW2
Why might fats globalisation be dangerous
Dangerous TMC investments led to the global recession in 2008
