3.2

Question 1

How are global organisations affecting local people

Answer 1

-Increasingly , decisions that affect people locally are being made by global organisations which seem to have no accountability and are invisible in peoples lives

Question 2

What do the world bank aim to do

Answer 2

• The world bank aim to finance economic development

- They focus on natural disasters and humanitarian emergencies also

Question 3

How do the world bank do this

Answer 3

-The world bank use bank deposits placed by wealthy countries to provide loans for development in other less wealthy countries with conditions (negative)

Question 4

What do the WTO aim for

Answer 4

The WTO aim for trade liberalisation and to generate economic growth globally

Question 5

How do they set out to do this

Answer 5

• The WTO encourage the removal of barriers to create free trade
• It had 162 member states in 2016

-This increases the free flow of trade, products m campiness and brands between different state s

Question 6

What does the IMF do

Answer 6

The IMF lend money for development purposes

-They also stabilise currencies to maintain economic growth

Question 7

How do they achieve their aim

Answer 7

• The IMF force privatisation of government assets ti increase growth in private sector in return for loans
• They also force government austerity and cutbacks in countries with economic crisis
• This enhances the TNCs in some countries and thus advances globalisation

Question 8

What impact did the WTO have in Pakistan

Answer 8

In 1995 Pakistan joined the WTO

• to comply with its rules it opened its fishing ground to foreign competition which had previously had 200 mile economic exclusion zone from the coast
• This allowed TNCs fish trawlers to come here, depleting fish stocks and causing poverty in Pakistan’s fishing industry

Question 9

What are trading blocs

Answer 9

Trading blocs are where countries group together to promote free trade between them, usually located by geographical regions

• E,g EU,NAFTA , ASEAN
• They remove tariffs between member states
• They create barriers for non member states and place tariffs on imports, protecting their own industries and increasing import prices
• Trading blocs can be very advantageous and promote rapid development

Question 10

What are possible negatives of trading blocs

Answer 10

• trading blocs exclude non member states and therefore May stunt their economic development and isolation
• The WTO has not been effective at policing ideas of subsidising producers or the overgrowth of some trading blocs and therefore their influence

Question 11

What are IGOs

Answer 11

IGOs are partnerships between governments to develop policies of mutual interest

Question 12

What are some examples of IGOS

Answer 12

OECD (organisation for economic co operation and development ) consisting of a think tank involving 34 wealthy nations

• OPEC represented 40% of global oil producers and thefore heavily influences oil prices. This has a knock on effect to many other industries globally giving it control over rates of globalisation
• The G8 countries meet annually to discuss development

Question 13

What are some examples of agreements made without trading blocs or the WTO