7.4

Question 1

What are the IGO’s?

Answer 1

IMF
World bank
WTO

Question 2

What does IMF focus on and info on it?

Answer 2

-Focuses on stabilising global currencies
-Founded in 1944 at Bretton Woods
-189 countries involved
-Voting system works in way that the more a country invests the more votes they get
-Countries in Africa struggled when cut spending on health and economics

Question 3

What does the world bank do and info on it?

Answer 3

-The world banks job is to finance development through aid and loans
-Founded in Bretton Woods in 1944
-First loan given to France after WW2
-Same Voting as IMF more invested more votes
-Gained bad reputation when gave money to environmentally damaging campaigns
-40% of votes controlled by 8 countries

Question 4

What does the WTO focus on and info on it l?

Answer 4

-Focuses on trade rules and reducing poverty
-Voting system one country one vote
-Currently reducing poverty through reducing farming subsides

Question 5

How are TNC’s becoming dominant economic forces?

Answer 5

Trade- increases global trade, global shift in manufacturing in Asia, rapid increases in exports, tncs account for 80% of all global trade

Cultural influences- western culture spread through media and theatre, people travel and take different culture foods with them, supermarkets have range of cultural food

Technology- products higher value due to research with technology put in, technology under new patent law

Question 6

How have TNC’s countries changed?

Answer 6

In 2006 mostly USA and UK were mostly in top 4 however, in 2015 there was 2 Chinese TNC’s in top 4.
This shows the global shift of manufacturing in Asia and the challenge which China has on the USA

Question 7

What is a patent?

Answer 7

This keeps brands and products safe and excludes them from other companies using them