EQ2: What are the impacts of superpowers on the global economy, political systems and the physical environment?

Question 1

Why is defence spending seen as crucial to the development of superpower status?

Answer 1

Preventative measure
Defends from being attacked
In national interest, for national security
Diplomacy. Can make negotiations.
Enables territorial expansion and/or the protection of current territory.
Brings wealth through the acquisition of resources. Allows maintenance of economy needed to develop superpower status.

Question 2

After the Second World War, what did the Allied countries believe?

Answer 2

An international economic system with greater cooperation between countries was necessary to prevent a future war.

Question 3

What did the Bretton Woods conference in 1944 lead to?

Answer 3

The rules and intergovernmental organisations (IGOs) that now dominate international decision-making.

Question 4

What are the most notable IGOs?

Answer 4

The International Monetary Fund (IMF)
The Organisation for Economic Co-operation and Development (OECD)
World Bank
World Trade Organisation
World Economic Forum

Question 5

What do IGOs do?

Answer 5

To create a mechanism for the world’s inhabitants to work more successfully together in the areas of peace and security, and also to deal with economic and social questions. Restore financial stability.

Question 6

What do IGOs provide?

Answer 6

A forum for discussion. Money, peace and stability.

Question 7

How might superpowers be able to influence the global economy through IGOs?

Answer 7

Dominated by Western capitalist countries and their views. Superpowers have a disproportionate influence on the global economy.

Question 8

The USA, EU and Japan in 2016 accounted for what percentage of GDP?

Answer 8

60%

Question 9

What are the USA, EU and Japan?

Answer 9

capitalist, i.e. people own businesses and employ workers, and make profits for themselves
promote free trade in goods and services across borders (free from import/export taxes and quotas restricting volume of trade)
dominated by private enterprise, rather than government-owned companies
promote wealth creation and accumulation by companies and individuals

Question 10

Criticisms of IGOs?

Answer 10

Uneven votes on global decisions - in particular IMF and World Bank, decided by economic power
WTO - although “one country one vote” consensus, countries will be influenced by what’s in their economic interest
All organisations set up by “western” nations and promote free trade and capitalism (dependency theory)

Question 11

What’s good about WTO?

Answer 11

Unprecedented levels of international trade.