✅Case Study - TPP, TTIP, G7 & G20 Flashcards

You may prefer our related Brainscape-certified flashcards:
1
Q

What does TPP stand for?

A

Trans Pacific Partnership

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is TPP?

A

A free trade agreement between 12 countries including USA, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What does TPP aim to do?

A

Deepen economic ties between the nations, slash tariffs and boost growth by fostering trade

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

How was the TPP agreement designed?

A

So it could eventually form a single market like the EU

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is TTIP?

A

Transatlantic Trade and Investment Partnership

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

How did Trump’s election affect TPP?

A

Due to his protectionist views, he stopped US participation in the deal, a major requirement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Why had TPP been criticised?

A

For its lack in transparency of negotiations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What topics did TPP negotiate on?

A

Investment, patents and copyrights, financial regulation and labour/environmental standards

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Why did Obama favour TPP?

A

It would increase the US influence in the Asia Pacific region where China is a growing influence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Why were people against TPP?

A

It was seen as a secretive deal which favoured big businesses and other countries at the expense of US jobs and national sovereignty

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What would be the combined population of TPP countries?

A

800 million

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What percentage of world trade would TPP be responsible for?

A

40%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

How did the US pulling out affect TPP?

A

The agreement could not be ratified as conditions were not met, and the agreement cannot carry on without the US and its 250 million population

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is the aim of TTIP?

A

To cut tariffs and regulatory barriers for big business including food safety law, environmental legislation, banking regulations etc, between the US and EU

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What type of agreement is TTIP?

A

Bilateral trade agreement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Which NGOs are against TTIP and why?

A

Friends of the Earth, because it will give more power to large TNCs, above that of governments

17
Q

What do opponents of TTIP believe?

A

That it will undermine democracy and social provision in both regions and it will threaten public services like the NHS

18
Q

What is Investor State Dispute Settlement within TTIP?

A

Gives large corporations the ability to sue EU governments and their taxpayers if their profits are affected by changes to government policy

19
Q

How would TTIP threaten the NHS?

A

TTIP makes NGOs and TNCs more powerful, while governments lose power, so if public services became privatised due to lack of power and funding, the NHS would decline and TNCs would become richer than goverments

20
Q

Who sets the G7 guidelines?

A

The IMF

21
Q

What are the conditions set to be in the G7?

A

High net national wealth and high HDI

22
Q

Which countries are part of the G7?

A

Canada, France, Germany, Italy, Japan, UK and US

23
Q

Why was the G20 established?

A

To give a voice to major developing economies in 1999 who felt the WTO was not fully serving their interests

24
Q

Which countries are part of the G20?

A

The G7 countries, the EU, BRIC countries as well as Argentina, Australia, Indonesia, Mexico, South Korea, Turkey etc.