Global Governance (globalisation 3.2.1.1) Flashcards
what is globalisation?
process of becoming more globally connected.
all countries are connected through 4 main ways what are they?
- economically
- politically
- socially-
- culturally
what are the 8 factors in globalisation?
- technology 📱(more connections/ shrinking world)
- systems/ relationships 🏳️(working across borers)
- financial 💵(global £ sys govern flows of capitol/ WB/WTO)
- transport ✈️🚢(container ships/ planes)
- security👮♀️ (laws reduce illegal trade/ EU green card )
- communications 📞( wireless communications)
- Management 🌎(making companies efficient- global sup chains)
- trade agreements (WTO/IMF/WB/NAFTA)🇺🇸🇲🇽🇨🇦
what is a trade agreement?
countries grouping together to govern the flows of products
what is a free trade area?
-no internal barriers
-independant external barriers
NAFTA
what is a customs union?
- no internal barriers
-1 common external barrier
EU
what is a common market?
-free movement of resources among member countries
EU
what is a political union ?
-free movement of resources among member countries
-uniform set of economic policies
EU
what are global positives of trade agreements?
- imposed global peace
- cooperation (all members can develop strategies In trade)
what are national positives of trade agreements?
- competition on a global scale
- increased movement of labour (economic migrants
what are the disadvantages of NAFTA?
- exploitation of cheap labour in Mexico
- maquiladoras- manufacturing on the border (USA argues jobs stolen by cheap labour)
what are the negatives of BREXIT ?
globalisation- if trade blocs connect countries- the uk is separate from the EU
-new trade agreements - no longer geo close
what is the EU+ Japan trade agreement?
economic partnership- FEB 19- removes tariffs to encourage trade
what is the TTIP?
transatlantic trade and investment partnership between EU+US not yet signed
what is the TPP?
transpacific partnership (Australia, Canada, Chile, Japan) 4th feb 16 in force 2018
