EQ2 Flashcards
What are the phases of colonial rule?
1) Exploration (discovering new lands)
2) Initial Settlement (usually on coasts)
3) Beginnings of raw material trade
4) Extension of rule over larger territories (using direct military action and conquest)
5) Develop political systems, institutions, transport & trade networks
Why did colonialism fail?
Wasn’t peaceful as military threat took indigenous freedom away and excluded them.
Colonial border led to conflict over territory as it did not reflect religious and ethnic boundaries
Colonial powers left as insurgents pushed them out leading to violence
What are the principles of neo-colonialism?
Indirect control over the developing
Extension of dependency theory
Prevents any real development progress in 40 years since the colonies gained independence
Form of imperialism
Means power without responsibility with no protection
What are some mechanisms of neo-colonisation? (and give examples)
Strategic alliances - USA & USSR with developing nations to spread influence by foreign aid
Aid - with strings attached so developing have to spend how developed wish
TNCs - exploitation by FDI
Trade terms - low export prices for raw materials and low commodities but not for developing
Global finance and debt - debt interest payments from developing to developed exceeding aid receipts
SAPs - World Bank & IMP Western economic policies must be devised for countries to relieve debt (economic sovereignty cost)
What are IGOs?
Inter-governmental organisations
What do IGOs do?
Have global economic and political power
Make key decision on world economy, conflicts, environ. and issues
Many created form 1994 Bretton Woods conference
Some say set up by superpowers in favour of superpowers
Give some examples of superpowers and their role?
IMF - monitor economic & financial development and lend money to those with financial difficulties
World Bank - advice, loans, grants to reduce poverty and promote econ. development
UN - prevent war, specialist agencies for health and refugees
NATO - Europe & USA military alliance
OECD - economic development analysis & forecast/research development issues
Who are the G8?
Less formal and very restricted membership
World’s richest and most powerful
Annual informal meetings on Western democracy policy direction
Holders of the majority of nuclear weapons
How much GNP do the G8 represent?
65% but 14% of world pop.
Who was the most recent member of the G8
Russia (from G7) as their was an acceptance of their nuclear and energy power importance
Who is the G20?
Brazil, China, India, Russia, Saudi Arabia and others..
Who is the Davos group/WEF?
World Economic Forum
Non profit making foundation
Business and profits focus
Swiss based
CEOs, academics, political leaders, representatives, media
Not of official status yet so others are suspicious
Attacked by anti-globalisation campaigners and anti-capitalists
How do the WTO affect trade?
Remove taxes/tariffs on imports
Import quotas
Subsidies for domestic producers
How does Free Trade work?
Tariff free trade blocs (EU, NAFTA, ASEAN)
What is Africa’s trade problem?
Stuck in colonial trade pattern where they are exporting raw materials. This means the commodity prices are set on the global stock exchange and so they are prone to extreme volatility.
