Global systems Flashcards
Economic interdependence
Countries rely on eachother for economic growth
Political interdependence
Countries rely on each other to solve issues that cannot be solved by them alone
Social interdependence
Greater interdependence from social connections
Environmental interdependence
Environmental issues cross borders, countries rely on each other to help solve them
Institutions that help facilitate interdependence
World bank WHO WTO IMF Intergovernmental panel on climate change
World trade organisation
Deals with global trade
Supervise trade barriers
Acts as an arbitrator
Provides stability
e.g. 2001 Doha development Agenda to focus on agricultural produce
Economic consequences
Growth of MINTS
Susceptible to economic shockwaves*
*e.g. Crash of East Asian Banks or 2008 Banking Crash
Social/cultural consequences
Greater sharing of ideas
Standardisation of goods
Glocalisation (e.g. McDonalds)
Social global awareness
Environmental consequences
More transportation
Depletion of resources
Outsourcing
Invasive species