3.9. Role of Global Institutions Flashcards
1
Q
How does the UN regulate global systems?
A
- Set up in 1945
- Maintaining international peace and security by settling international disputes peacefully
- Promoting and protecting human rights
- Delivering humanitarian aid and solving humanitarian problems
- Supporting sustainable development and climate action
- Upholding international law
2
Q
Strengths of the UN
A
- Promotes multilateral corporation
- Provides a platform for all nations, including smaller or less powerful ones to have a voice
- Establishes global norms and standards
3
Q
Weaknesses of UN
A
- Reliance on member states for enforcement
- Veto power in the Security Council can hinder action
- Funding constraints and dependence on contributions from member states
4
Q
How does the international monetary fund (IMF) regulate global systems?
A
Financial institution which regulates the global finances by following economic policies of 190 companies
- Based in USA
- Promotes increased trade and economic growth
- Offers technical assistant and training governments
- Gives loans to countries to help them develop their economies
5
Q
Strengths of IMF
A
- Tracks global economy, identifying issues and preventing crises
- Seeks to promote economic growth and financial stability
- Supports economic policies to promote financial stability, monetary cooperation to increase jobs and productivity
6
Q
Weaknesses of IMF
A
- IMF programs often require countries to implement strict economic policies which can be difficult
- Money comes from taxing HICs
- Countries become dependent and rely on them
- Conditions IMF attaches may be too harsh and harm developing countries
7
Q
How does G8/G7 regulate global systems?
A
- An inter government political institution of 8 countries.
They regulate global systems by holding an annual summit where they plan actions to take on global actions such as aid for LICs - Consists of UK, USA, Canada, France, Germany, Japan and Italy
- Russia removed
8
Q
Strengths of G7
A
- Countries are HICs so often listened to
- Members represent some of the largest and most influential economies - 40% of global GDP
- Discusses and takes action on security issues
- Provides aid for developing countries
- Smaller scale so quick decision making
9
Q
Weaknesses of G7
A
- Cannot force anyone to agree to any actions
- Membership reflects an outdated version of the world’s power
- Cannot pass laws or create binding agreements
- Sometimes ignores needs of developing nations
10
Q
How does the World Bank regulate global systems?
A
- Based in USA
- Gives financial help to countries to increase their level of development, including low interest rates
11
Q
Strengths of the World Bank
A
- Provides loans and grants for projects like education, healthcare and infrastructure
- Offers low interest loans and grants to developing countries
- Focuses on sustainable long term development
12
Q
Weaknesses of World Bank
A
- Can be hard for poorer countries to repay loans
- Decision making can be slow and less responsive to urgent needs
- Doesn’t address immediate needs
- Turn a blind eye to environmental damage
13
Q
How does the World Trade Organisation regulate global systems?
A
- Based in Switzerland
- Settles trade disputes between countries
- Puts rules in place to govern how goods and services are traded around the world
14
Q
Strengths of WTO
A
- Encourages countries to reduce trade barriers and open up markets
- Helps avoid conflicts and ensure fair trade
- Prevents smaller countries being exploited by larger countries
- Helps stimulate economic growth
15
Q
Weaknesses of WTO
A
- Slows decision making as it requires consensus from all member countries
- Some argue WTO’s rules tend to benefit developed nations more than poorer
- Environmental harm
