Changing Economic World Flashcards
What is GNI
Gross national income
What is a HIC
High income country
LIC
Low Income country
How has tourism helped to reduce the development gap in an LIC or NEE?
11% of total wages in Nigeria are accounted for by tourism
What is devolution?
Devolution is a development strategy that proposes to invest money into cities and regions of the north.
What is an example of devolution?
An example of this is the election of the mayor for greater Manchester who has been given 1 billion in devolved funds to spend on improving the city and attracting new businesses.
What is the HS2 strategy?
The HS2 strategy is a £50 billion plan for a new high-speed rail line to connect London with Birmingham and then to Sheffield, Leeds and Manchester.It may then the be extended into Newcastle and into Scotland.
Why are some people against the HS2 strategy?
The route passes through several stretches of countryside and is close to many homes
About aid:
-UK spent 45 million in aid toTanzania for education
Def:
When a country or NGO donates resources to another country to help it develop or improve quality of life.
Aid can be give as money, emergency supplies, food or skills
Positive:
enables countries to invest in development of roads, electricity or water management
Negative:
Not all countries are given aid
What is debt relief:
-On 6th January 2006, the IMF cancelled the debts owed to it by 19 of the worlds poorest countries
Def:
Debt relief is where richer nations cancel the debt that less developed nations owe them.
Positive:
-Money saved used for basic infrastructure
Negative:
-corrupt governments may keep the money instead of using it to help the poor
About Industrial development:
Malaysia (one of the richest countries in south east Asia) has had development of its natural resources such as oil, gas, palm oil and rubber since the 1970s
Def:
Brings development, greater incomes and investment in housing, education and infrastructure
Positive:
Growth of country’s economy and quality of life
Negative:
Air pollution from greenhouse gases
What is investment?
Over 2000 Chinese companies have invested billions of dollars in Africa, mainly in energy, mining, construction and manufacturing
Def:
Investment is the development of infrastructure; new roads, stadiums and bridges. Jobs created, making economies grow, poverty decreases and education grows
Positive:
Economies grow, new jobs and better infrastructure
Negative:
Workers get low pay
What is tourism?
Tourism brings in US 5.3 billion to Kenya’s economy (7.6% of Kenya’s capital investment is from tourism)
Def:
Tourism is where visitors travel to another country for business and leisure purposes
Positive:
Brings money to a country’s economy and provides jobs in the industry
Negative:
Damages environment from litter and climate change
What is fair trade?
Over 90% of coffee farmers in eastern Uganda have joined the gumutindo coffee cooperative.
Def:
Fair trade helps ordinary farmers get a better quality of life and helps them get a fair deal.
Positive:
Farmers get all of the money they earn from the sale of their crops so they get extra income
Negative:
Not all countries buy fair trade goods
What are micro finance loans?
The Grameen Bank set up in Bangladesh in 1976 has lent over 7 billion to its 7 million members.
Def:
Micro finance is a small scale financial support available from banks to help the poor
Positive:
Enables locals to set up small businesses, this provides employment opportunities for others
Negative:
It is small-scale so more rural areas will not have these banks
