2- Global Governance: Political And Economic Flashcards
Terms for Political Globalisation
- interconnectedness
- interdependence
- nation- state
- autonomy
- realism/liberalism
- supranational
- monoculture
- pre/post cold war
Types of globalisation
Trade/economic Cultural Political Internal External
Trade /Intergovernmentalism
- EU/economic alliance
- UK receive 3% gas and 5% oil from Russia
- intergovernmentalism - interests of nations bound to IGOs and they must respect authority of IGOs
impacts of regionalism/reigonal + sov
- impacts sovereignty
- Asian development bank - 68 memb
- European central bank
- AIIB
- EU erodes sovereignty - pooled/maastricht treaty 1992 - major criticised for it
- Global Pressure groups ie. HR watch
Internal Globalisation
- sovereignty within the state
- 2017 Supreme Ct declared Parliament had sov to initiate article 50 of lisbon treaty - Brexit
International Law
- Israel breached 28 times
- USA - Obama illegal strikes in Syria 04-08’
- indian occupation if Kashmir - reviked article 370 - right to plebiscite
Bretton Woods
- tied currencies to US dollar
- July 1944 - 44 countries
- created IMF/WB
- dissolved in 1970
- established global governance - stability
Washington consensus
- packages in exchange for reform in countries
UN members + 5 sections/date
- 193 members
- established in 1945
- split into 5 section ie.Sec council,eco/socio justice/secratariat/CT. jus/assembly
- UN systems: UNESCO,UNICEF,WHO
UN - During Cold War
- USSR vs USA paralysed UN as both permanent members/deadlock
- failed to mediate conflicts
- by 1970 UN budget for development much more than peacekeeping
UN - Post Cold War
- 1988-2000 peacekeeping budget increased 10x
- failed to intervene in Rwandan genocide 1994 - Tutsi ppl
- 2001 Iraq - no UNSC - only USA ego/ 2016 Chilcot enquiry found it illegal
UN Success
- prevented WW
- disaramament
- declared universal HR
- have negotiated 172 peaceful acts
- 1995 Seirra Lonne civil war success
UN Failures
- Israel violated law but wasn’t held accountable
- unilateral action in Iraq against UN adv
- Cuba missile crisis,Kashmir,vietnam
- cannot control nuclear powers
- no military strength
- failed to stop Bosnian genocide - 8000 muslim men killed
World Bank
- invested $140 mil into Africa
- Ghana $700 mil
- $3.3 billion in Afghanistan
- allocates 20 billion anually
- 2011- $900 bil invested in china/india
- focuses on poor countries
World Trade Organisation
- widened market to other consumers
- 45,000/£$40bil in tariffs removed
- disadv: targeted by anti-globalists, weakened worker rights, favours developed countries, structural inequality - marxists
- described as ‘rich mans club’
IMF - International Monetary Fund
- no accountability
- attracts foreign investors by weakening labor laws
- promote corporate welfare
- serves rich/ Wall street
- privatises national assets
india export
2017 India exported $489 billion
$538 billion in 2018,
mcdonalds + usa
1/4 of top 200 tncs american
14k mcdonalds in usa
$189 billion net worth
other tncs like coca cola, apples, samsung or nike have beomce household names
cultural globalisation
- rise of kpop/BTS + gangnam style 2b views - kdrama Netflix - Squid game stayed number 1 for 90 days
- hollywood - 2018 $2.09 billion, a $11.25 billion decrease
- bollywood - $6.2 billion in 2020
- tiktok - billions of views chinese/insta usa
- lollywood - pk/$980 million
- cantonwood - hongkong/ chinese based
Poltical ins to counter west + west hegemony
G7/8 - dominated by West/expelled russia 2014
3/5 of UN perm memb Western
AIIB/ASEAN as counter to west
usa funds 22% of nato
usa funding into who
$116 million
next country china - $57 million
usa /china funding into world bank
usa - $53.2 billion - 21%
dec 2019 gave $12 billion
