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global systems Flashcards

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1
Q

what is globalisation?

A

the close interdependence between the leading nations in trade, in which there are few restrictions on cross-border exchange of goods and services. it can also lead to the development of TNCs.

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2
Q

what are the factors of globalisation?

A

financial systems
technology
transport
trade agreements
security
communications
management and information systems

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3
Q

what are the flows of globalisation?

A

products
remittances
aid
migration
labour
information
services
FDI
capital

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4
Q

what countries make up the BRIC(s)?

A

Brazil
Russia
India
China
(south Africa)

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5
Q

what countries make up the MINTs?

A

Mexico
Indonesia
Nigeria
Turkey

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6
Q

what type of nations are MINTs?

A

NEES

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7
Q

what type of nations are BRICs?

A

MICs

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8
Q

which part of the core periphery model are MINTs and BRICs part of?

A

semi-periphery

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9
Q

what are the three parts to the core - periphery model?

A

core, semi-periphery, periphery

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10
Q

what is the gini coefficient?

A

shows levels of inequality within a country (income distribution). measured from 0-1 : (0=equal, 1= unequal)

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11
Q

what is a multilateral institution?

A

many countries sign up to/ are members of one organisation responsible for global decision-making e.g IMF, World Bank, WTO

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12
Q

what is protectionism?

A

barriers to trade

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13
Q

what is fair trade?

A

concept of social enterprise providing producers with higher incomes through the fair trade premium

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14
Q

what is a tariff?

A

taxes on goods that are imported and exported

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15
Q

what is a quota?

A

limits on the number (quantity) of goods and services that can be exported

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16
Q

what is an example of a trade bloc?

A

EU - allows the free movement of people

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17
Q

how many countries make up the EU?

A

27

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18
Q

what is the role of the EU?

A

it seeks to create a common market with fewer barriers to trade

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19
Q

which place exemplifies sector shift and why?

A

Las Maquiladores in Mexico. They underwent sector shift from primary to secondary due to deindustrialisation in the US and the trade agreement ‘NAFTA’.

20
Q

which place exemplifies issues with the primary industry and how it makes unequal flows worse?

A

Uganda: Nile Perch

21
Q

what does OECD stand for? what does it do?

A

organisations for economic cooperation and development. this is where the largest economies trade with each other

22
Q

what does OPEC stand for?

A

organisation of the petroleum exporting countries

23
Q

what is a subsidy?

A

financial assistance to a business by governments to make it competitive or prevent collapse

24
Q

what are barriers to trade?

A

obstacles countries face in trading with one another

25
Q

what does NAFTA stand for? who is part of it?

A

North American Free Trade Agreement. Canada, Mexico and the US

26
Q

what is a positive of NAFTA?

A

eliminates barriers to trade - increases flows and boosts economies

27
Q

what is a negative of NAFTA?

A

mass displacement of 851,700 jobs

28
Q

what year did NAFTA end?

A

2020

29
Q

what is neo-colonialism?

A

the use of economic, political, cultural, or other pressures to control or influence other countries

30
Q

what is an example of neo-colonialism?

A

Kenya’s railway built through FDI from China (soft power), part of the belt and road initiative

31
Q

what is an SDT? examples of special provisions?

A

special differential treatment.
- increase trading opportunities
- provisions related to LICs

32
Q

what is the role of the WTO?

A
  • only global international organisation
  • deal with rules of trade between nations
  • pro free trade
33
Q

advantages of WTO?

A
  • ensure LICs receive fair trade
  • argues for free trade
  • offers stability and confidence
  • decisions taken through consensus (160 members)
34
Q

how many members are in the WTO?

A

160

35
Q

how many members make up the work bank?

A

185

36
Q

what are the disadvantages to WTO?

A
  • HICs remain dominant
  • political interests mean trade disputes are often stalled (China vs US)
37
Q

what is agglomeration?

A

business takeover, buying up multiple businesses

38
Q

what is vertical integration?

A

companies buy up other sections of the supply chain of the same product

39
Q

what is horizontal integration?

A

buying rival companies that do the same thing

40
Q

what is a TNC?

A

companies operating in at least two different countries, with HQs based in one country but with business operations in a number of others

41
Q

what is the Schengen agreement?

A

it allows free movement of labour between 26 of the EU members (EU members have more opportunities)

42
Q

what percentage of Poland’s GDP is made up of remittances?

A

4.6%

43
Q

how is a comparative advantage seen to reinforce the core periphery model?

A

it maintains countries in their sector e.g Saudi Arabia experience high levels of FDI from their peers of the OECD, keeping them in the core vs banana farms maintain in the periphery due to the low value of their products

44
Q

What is the role of NAFTA?

A
  • to allow for free trade and eliminate barriers to trade
  • made up of US, Mexico and Canada
45
Q

when did NAFTA end?

A

2020

46
Q

what is a difference between NAFTA and the EU?

A

the EU allows for free movement of labour (Schengen agreement) whereas NAFTA does not

47
Q

what is the term that links to the US being the largest donor to the majority of multilateral institutions?

A

eurocentrism

geography (17 decks)

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