EQ2 What are the impacts of superpowers on the global economy, political systems and environment? Flashcards
TNC’s account for how much of global trades
80%
How much of global output do TNC’s account for?
25%
Top 3 countries with most powerful TNC’s?
US, UK, China
In 2015 what company ranked highest in revenue?
Walmart - American owned ranked 1st
2006- Ranked 2nd
Raked in more revenue than Sweden (worlds 22nd largest economy)
Give an example of a chinese state funded TNC and it’s ranking in the Top 10 earning TNC’s?
Sinopec- petrochemical group, 2nd place for highest earning TNC - + state funded group state grid
How do trade blocs support maintenance of superpower status?
- Normally formed to allow for easier transactions of capital and trade between countries, some reducing trading costs and increasing business investments
- USMCA and EU
Superpowers have a significant influence on the global economic system ;
USMCA benefits to US
Trade between all 3 countries quadrupled after NAFTA and is projected to continue increasing within the USMCA to fuel US’ superpower status
- form of back up for increasing trade war tension with China- decline in Chinese manufactured imports into US
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Superpowers have a significant influence on the global economic system ;
- how does the IMF help superpowers?
IMF- indirect instrument through which superpwoers can exert their influence ;
G20 have 70% stake in votes - BRICS have 9%
USA alone maintains a large dominance in decision making - higher levels of funding into org.= 17% of voting rights
What is the world economic forum?
An IGO that aims to tackle international problems by bringing influential leaders together to exchange ideas and agree to cooperate.
- often criticised for prioritising capitalism and globalisation at expense of tackling poverty.
United nations decision making
how important is the UN security council to maintaining superpower status for superpower nations ?
- UN consists of 5 developed nations all potential superpowers - acts as a peacekeeping force to regulate security globally- ‘resolve’ and avoid intercontinental wars
- military alliance = ‘ strength in numbers’
- allow for avoidance of major disruptions to world economy ;
e. g ; Irans nuclear programme sanctioned by the UN and assets were frozen in 2006 combined with sanctions from EU led to deterioration of prog. = agreement by Iran to end its nuclear prog. in 2015.
why are global alliances via IGO’s criticised to be ineffective at times?
- maintenance of global security seems to be driven by the willingness of member countries to act (China and Russia vs west) - without a superpower supporting them they are unable to act effectively - in end; just becoming a platform on which members can criticise countries publicly but do nothing about the conflict .
Impacts of superpowers on physical environment;
Worlds most polluting countries (GHG emm) rank in 2018?
1) china
2) US
3) India
4) russia
Willingness to act on environ between countries
Which countries are the least willing to act on environmental issues ?
- US - since president Trump took control of environ. policy - least willing to act as it s not in favour of US economic growth - questions US’ moral leadership
- withdrawal of USA from Paris agreement = sig. blow for developing countries suffering from the impacts of GW.
Willingness to act on environ between countries
which countries are the most willing to act on environ issues?
- China more willing- agreeing to paris agreement - aim towards reductions in GHG emissions by nearly 60% by 2030 - (most ambitious and unrealistic) in direct contrast to US- America’s difficulty is China’s opportunity
= enhances diplomatic image of CCP
why is the Paris agreement ineffective ?
+ Countries may set their own preferred targets - some more realistic than others = doesn’t highlight the seriousness of the threats presented to countries at risk like Kiribati ‘ - lacks teeth for effective implementation and checks on target achievements
+ latest IPCC reports suggest that the agreements, 2030 targets will be too late and the effects irreversible
