HL Extensions -Global Interations And Global Power Flashcards
Flaws of globalization
- international division of labour, residents of colonies specialized in producing goods for HIC
- larger global inequality (rich rich, poor poor)
What aspects of globalization does the AT Kearny Index of Globalization measure? (4)
- political engagement (participation in treaties, organizations)
- technological connectivity (# of internet users)
- personal contact (telephone, travel)
- economic integration (international trade, FDI)
What are the 3 aspects of the KOF Index of Globalization and how do they measure it (what is the scale?)
- economic globalization
- political globalization
- social globalization
Measured on a scale of 1 to 100
What 5 aspects do the Maastricht Globalization Index measure and how does it differ from the other globalization indices?
- political
- economic
- social and cultural
- technological
- environmental (makes it unique, considers sustainability!)
What are the flaws to each index of globalization (AT Kearney, KOF, and Maastricht (MGI))
AT Kearney and KOF - focused on economic development
MGI - measures internationalization rather than globalization (exchanges between countries rather than on a global scale, therefore Europe is high on list)
World superpower definition
Extremely powerful country, especially one that was capable of influencing international events, as well as the policies and practices of less powerful countries
Which aspects are the USA superpower of?
- military and diplomatic influence
- economic (highest GDP, mostly services, dominant position of US dollar)
- technological (global influence of US based companies like Microsoft, Google, Amazon, Meta)
- cultural (Americanization, soft diplomacy where America TV, movies, news are globalized)
Which 2 aspects are China (almost) superpowers of?
- economic —> aquisition of large Western companies, large manufacturing industries that are low cost, higher quality)
- increasing military power
What is the name of the global organization that includes France, Germany, Italy, Japan, UK, US, Canada, (Russia cancelled!), and the European Union
G7 or G8 including Russia
What issues do the G7/8 cover in their meetings? (3 broad topics)
- economic matters; exchange rate, international trade, tax havens
- political issues; human rights, security and arms control
- environmental issues; climate change and global warming
How are the G7/8 and OCED (Organization for Economic Cooperation and Development) similar in their goals and subsequent outcomes on the citizen’s (wages)?
- promote neoliberalism and globalization
- wages of top 10% rise more than bottom 10% … increases income inequality.
What is the name of the organization with Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela whose goal is to co-ordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets in order to secure an efficient regular supply of petroleum to customers.
Organization of Petroleum Exporting Countires (OPEC)
What are some consequences, changes in government policies, when the OPEC restricted the supply of oil (and driving prices up)? (4)
- unemployment rose
- higher inflation
- global economic recession
- more research into renewable energy sources
What is the name of the fund that “oversees the international monetary system to ensure stable exchange rates” and provide loans to struggling countries?
International Monetary Fund (IMF)
What should the infrastructure projects funded by the New Development Bank (NDB) be? What principles should it be funded on?
Sustainable development (can be practiced in perpetuity without negative environmental or social consequences) and renewable energy
