globalisation L3 role of political organisations Flashcards
What are Key Players?
Individuals, groups, organisations and stakeholders involved in geographical issues and decisions
can be anyone who makes of is impacted by the big decisions
Who are the IMF?
- institution within the US — Bretton Woods Institution
— US gain more capital by trading with lower income countries
What do the IMF do?
Neocolonialism
— collaborate to further international monetary cooperation
— encourage trade expansion & economic growth
— discourage policies that would harm prosperity
— give loans to lower income countries BUT they have to cut off education & health spending to be eligible
— 1970s - Malawi poverty cycle - 40% GDP goes to US
How do the IMF increase globalisation?
- encourage trade & economic growth — countries work harder to organise trade with each other
- develop links to US — customers
Who are the WTO?
- located in Geneva, Switzerland
— group of nations that negotiate and sign trade flow agreements
— 104 members
What do the WTO do?
- aim to reduce trade barriers
- goal is to help trade flow as freely as possible
- settle disputes through neutral procedures
How do the WTO increase globalisation?
— controls trade and settles disputes which encourages trade and communications
— bias to europe/HICS
Who are the EU?
Worlds first trade bloc
— 27 EU nations
- France, Portugal, Ireland, Germany, Italy
What do the EU do?
- hoping to make a greener europe
- helped countries to rebuild after WWII
- promote peace across europe
- promote European ideals globally
- financially support members and LICS
- improve life quality for EU citizens
How do the EU increase globalisation?
- supply funds to Ukraine so that other countries can continue to trade with them
- spreading ideals globally — political globalisation
Who are The World Bank?
- *Bretton Wood Institution** - US
- 189 member countries
What do The World Bank do?
- reduce poverty & build shared prosperity in developing countries
- specialises in giving loans to help developing countries after natural disasters
How does The World Bank increase globalisation?
encourages social and political ties between governments
Who are ASEAN?
- political & economic union of 10 states in Southeast Asia
- headquarters in Jakarta, Indonesia
- Myanmar, Malayasia
What are the primary objectives of ASEAN?
- accelerate economic growth, social progress & cultural development in the region
- promote regional peace and stability through abiding respect for justice and the rule of law in the relationship among countries in the region
How does ASEAN increase globalisation?
- further economic growth
- build good relationships between nations
What is the OECD?
- 34 worlds wealthiest nations discuss prices for luxury items
What are ICO’s?
- UN, IMF etc
- OPEC ( OECD but oil producers only )
what are the G7?
- USA, UK, France, Canada, Germany, Italy, Japan
- used to be G8 before Russia got kicked out
+5 includes china, india, brazil, mexico & south africa
what are the G20?
19 individual countries and the EU
- formed in 1999 to bring together developed & developing countries to discuss key economic issues
What are Tariffs?
trading but you have to pay a tax on IMPORTS
What are Quotas?
trading but controls will be imposed on how much of a product you can make in the future
What are Subsidies?
trading but a financial contribution will be given to increase production and therefore competitiveness in the country to create more of a product
