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IR > Globalisation 2 > Flashcards

Globalisation 2 Flashcards

1
Q

In 2014 what countries were the top 5 recipients of US aid?

A

Israel, Egypt, Afghan, Jordan, Pak

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2
Q

What livestock receives more subsidy per animal than aid per person?

A

Cows (UNDP)

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3
Q

Which countries have the strongest argument for protectionist policies?

A

Small states vulnerable to opening up economy

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4
Q

What is the OECD?

A

The organisation for economic cooperation and development.

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5
Q

How many countries are in the OECD?

A

34

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6
Q

What does the Westphalia system stand for?

A

Principles of sovereignty and statehood

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7
Q

What are the 2 dimensions to sovereignty?

A

Internal and External

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8
Q

What is globalisation?

A

The Integration of economic, social and cultural relations across borders

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9
Q

Who has suggested that globalisation will lead to the transfer of power from states to firms?

A

Susan Strange

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10
Q

What are the three aspects of econ globalisation?

A
  1. MNCs (and FDI)
  2. Financial flows (Currency etc)
  3. Markets becoming global
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11
Q

What is the Hayekian argument for the 2008 crash?

A

Commercial banks lent more money to business then public wanted to save out of its income

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12
Q

What did the Keynesian argument for the 2008 crash say?

A

That it was due to insufficient investment

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13
Q

How many US jobs could be moved off shore?

A

1/4

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14
Q

How did China develop its economy?

A

Started with export liberation in the 70s, import liberation came later

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15
Q

What has China’s 80s/90s strategy been called?

A

A semi-globalised strategy

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16
Q

How can US politicians protect US jobs from globalisation?

A

Strengthen intellectual property rights, link trade to higher environmental and labour standards

17
Q

How is the dollar described as the preferred currency for banking money, esp by govt?

A

The worlds leading reserve currency

18
Q

What did the over-issue of US dollars by the Fed Reserve produce?

A

A consumption boom in the US leading to a manufacturing boom in China

19
Q

What model was used by govt for the initial response to 2008?

A

The Keynesian model.

20
Q

When was the WTO established?

A

1995 - its failure is much of the reason for the collapse.

IR (9 decks)

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