2.2 - IGOlogy Flashcards
what is hegemony?
leadership or dominance, especially by one state or social group over others.
In what currency do most countries in the world have as a reserve currency?
The US dollar
What were the three phrases of the British Empire?
The mercantilist phase (focus on trade), the imperial phase (Governments and institutions set up to rule colonies), the decolonialisation phase (anti-colonial movements grow)
What is a vetoe?
where a global policy is stopped by e.g. EU and USA voting together
Who was in the G8?
France, Germany, Italy, UK, USA, Japan, Canada, Russia
What is the Davos group?
Informal group of academics, CEOs. Work towards entrepreneurship in global public interest.
Why was Russia suspended from the G8?
For annexing Crimea
what’s the name given to the group of countries with large emerging economies?
BRICS, Brazil, Russia, India and China
What features do the BRICS share?
Strong economic growth, large populations, access to key resources, especially fossil fuels, market economies and regional power and influence.
Why has Russia’s Economy grown?
Oil resources and the high prices assosciated
Why can democracy be a bad thing, in terms of productivity?
Very little will get done as there are too many interests that need to be considered.
Who are the IMF and what do they do?
The international Monetary Fund, primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other.
What are the purpose of trade blocs such as NAFTA and EU?
Generates internal free trade, also it protects local economies
When and why was the G20 created?
2008 by Gordon Brown to fix the global recession
What is the WTO and what do they do?
Promote trade and economic cooperation between countries
