7.9 Flashcards
What are some economic problems superpowers face?
Debt
Economic restructuring
Unemployment
Example of a economic problem
2007 Debt crisis
- Started in US
- Public panic impacted superpowers when savings were at risk
- Spread to UK
- caused by sub prime lending which is banks giving loans to people who cant pay it back
- Meant some of the worlds largest banks collapsed
What is economic reconstructuring?
Shifts in industry such as from primary to secondary to tertiary to quaternary
How did economic reconstructuring cause economic problems?
Lead to unemployment when mine closures happened, North East of England suffered, people had to migrate, debts and social cohesions
What are the factors which retain superpower status?
Naval power
Nuclear
Air power
Intelligence services
Space exploration
Costs and benefits of factors which retain superpower status
Naval power- Old ships which can be underdeveloped
+Investing in high tech ships will be beneficial
Nuclear - expensive and radioactive waste
+ Carbon free electricity, reliable
Air power - cant serve on ground
+provides international global reach
Intelligence services - very expensive E.g. US annually spend $80 billion
+ collects info and defends against others
Space exploration - NASA spent $18.5 billion in 2016
+ increased knowledge
What are possible future outcomes?
Unipolar- USA dominant power
Bipolar- China and USA balance
Multipolar- USA and EU decline compared to other emerging powers
