Global systems Flashcards
What does IMF stand for?
International Monetary Fund
What is the role of the IMF?
Works to raise global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Give one positive of the IMF.
Prevents international financial system from collapsing.
Give one negative of the IMF.
Conditions in place for loans may not have borrowing at the countries best interest - raise interest rates.
Describe the World Bank.
A financial institution which provides loans to developing countries for capital programs (money making and long term).
Give one positive of the World Bank.
Loans/financial assistance for infrastructure projects in developing countries - trigger further investment and development.
Give one negative of the World Bank.
Guilty in the past of too many top-down projects requested by corrupted governments - little positive economic impacts and disastrous environmental impacts.
Give 2 common criticisms of the World Bank and IMF
Reinforce unequal power relations.
LDCs have little influence over decisions.
What is the main role of the World Trade Organisation?
Deals with the rules of trade between countries.
What is one of the main success of the WTO?
Reduced trade restrictions since 1995 - economic and political benefits
A negative of the WTO is it takes a long time to settle disputes, can you give an example?
Doha Development Agenda in 2001 and has been hindered by a failure to reach agreements between USA, India and China, based on tariffs.
What does IPCC stand for?
International Panel on Climate Change
What does the UN stand for?
United Nations
UK had a lack of skilled nurses so where did they recruit from?
Far East
What injustice happened in Qatar?
Several thousands migrants died building for FIFA World Cup in 2022
Where are many call centres outsourced to?
India
What does the GINI index show?
Describes how far away a country’s income distribution is from complete equality.
In 2016 what % of people in the Netherlands and Myanmar had access to the internet?
Netherlands - 97%
Myanmar - 20%
Where is the most unequal country?
South Africa
Where is the most equal country?
Ukraine
When was Uganda made a colony in the British Empire?
1894
Which Ugandan exports did the British Empire export?
Low-value cash crops - coffee tea and cotton.
What is Uganda’s most profitable export?
Fish
Why has Uganda’s most profitable export declined?
Overfishing and the British introduced the predatory Nile Perch
Uganda now has cheap wireless technology, why is this important in rural areas?
Farmers can access the internet and gain information about prices and new farming techniques.
How many mobile phone subscribers are there in Subsaharan Africa?
700 million
Where has the largest number of internet users in the world and how many?
China, 650 million in 2015
What was set up China in the 1990s to control what its citizens can access?
Great Firewall system
What is Nigeria an example of and why?
Single product economy - oil and gas account for 80% national income
What trade organisation is Nigeria part of?
OPEC
Why did oil companies exploit Nigeria?
Nigeria had the product but lacked the technology/money to extract it
What impacts has oil companies exploiting Nigeria had on Nigeria?
Oil spills in Niger Delta and land rights of indigenous people have been abused.
