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Geography > Globalisation > Flashcards

Globalisation Flashcards

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1
Q

Name three international organisations that have contributed to globalisation through the promotion of trade policies

A
  • World Bank
  • International Monetary Fund (IMF)
  • World Trade Organisation (WTO)
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2
Q

What is the role of the world bank?

A
  • lends money and gives grants to the developing world to help fund economic development and reduce poverty
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3
Q

What are two criticisms of the world bank?

A
  • Often puts economic development before social development
  • Requires loanees to adopt trade liberalisation policies
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4
Q

Name 2 instances of World Bank investment

A

In 2014: - gave a $470 million loan to the Philippines for poverty reduction
- Also gave the Congo $70 million for a HEP project

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5
Q

What is the IMF’s aim?

A
  • To maintain a stable international financial system that promotes free trade and globalisation
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6
Q

What is the role of the IMF?

A
  • Provides loans to countries facing short term payment difficulties
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7
Q

What is an example of an IMF Loan?

A
  • In 2008 Greece received a series of loans when facing large debt
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8
Q

What do the IMF require loan recipients to do?

A
  • Open the economy to FDI and free trade
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9
Q

Why has the IMF been criticised?

A
  • For promoting a western model of economic development that works in the interest of developed countries and TNC’s
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10
Q

What is the role of the World Trade Organisation?

A
  • To reduce trade barriers and create free trade
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11
Q

What does the WTO largely deal with?

A
  • the flow of goods and services (commodities)
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12
Q

What is a tariff?

A

A tax in goods entering or leaving a country

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13
Q

4 ways National Governments can accelerate globalisation

A

1- Joining free Trade Blocs
2- Privatisation
3- Free market Liberalisation
4- Encouraging business start ups

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14
Q

Name Two Trade Blocs

A
  • The EU
  • ASEAN
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15
Q

Outline the European Union

A
  • Trade bloc composed of 28 countries
  • Guarantees free movement of goods, capital, and people
  • The Schengen area countries have removed border controls
  • Single currency of the Euro
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16
Q

What was the Original Political aim of the EU?

A
  • to integrate economies to that interdependence prevents war
17
Q
  • Outline ASEAN
A
  • A free trade area with 10 members
  • Working towards the complete elimination of tariffs
  • More of a political purpose as opposed to economic
18
Q

How does Free market Liberalisation promote Globalisation?

A
  • Reduces government intervention in the economy
  • Reduces monopolies and increases competition which leads to better and cheaper prices
19
Q

How does Privatisation promote globalisation?

A
  • Increases efficiency as politics aren’t involved
  • Allows for cash injection through FDI
20
Q

How does Encouraging Business start ups promote globalisation?

A
  • Increases competition and erodes monopolies
21
Q

What are two indicators of globalisation

A
  • KOF index
  • AT Kearney index
22
Q

What three categories does the KOF index use to gauge globalisation?

A
  • Economic globalisation
  • Social Globalisation
  • Political Globalisation
23
Q

How many countries is KOF data available for?

A
  • 207
24
Q

What correlation does the KOF index show?

A
  • A positive correlation between globalisation and development
25
Q

Name the 4 categories the AT Kearney index takes into account

A

1- Economic integration
2- Technological connectivity
3- Political engagement
4- Personal Contact

26
Q

What is the AT Kearney index scored out of?

A

1

27
Q

What is the KOF index scored out of

A

100

28
Q

How many countries does the AT Kearney index include?

A
  • only 62, but this makes up 96% of the global GDP
29
Q

Name 4 economic indicators

A

1- Income per capita
2- Gross national product (GNP)
3- Gross national Income (GNI)
4- Gross domestic product (GDP)

30
Q

Income per capita

A
  • the mean income of a group of people
  • can be misleading if there are outliers
31
Q

Gross National Product

A

Measures output produced by a countries production

32
Q

Gross National Income

A

Like GNP but accounts for money lost through machinery wear and tear

33
Q

Gross Domestic Product

A
  • the total output of good and services produced in a country over a year
  • Overall score divided by the population of a country
34
Q

Name 2 Social development index’s

A
  • Human development Index (HDI)
  • Gender Inequality Index (GII)
35
Q

Human development Index

A
  • Compiles a score based on life expectancy, income, and years in education
36
Q

Gender Inequality Index

A
  • Compiles a score based on the reproductive health of women, women in the workforce, and empowerment in political representation

Geography (5 decks)

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