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Geography A-level > human- 3.2 > Flashcards

human- 3.2 Flashcards

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1
Q

what types of organisation do we cover?

A

international political and economic

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2
Q

what was the Bretton Woods conference?

A

It was a gathering of delegates from 44 nations that met in 1944 to agree upon a series of new rules for the post WW2 international monetary system
-the main aim was to create trusting economic relationships between countries to enable protectionist methods to be removed and global flows to occur without hinderance.

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3
Q

protectionism definition

A

imposing economic conditions to preserve position and security in relation to global flows e.g. tariff and quotas

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4
Q

what 3 IGOs were created at the Bretton Woods Conference

A

WTO- World Trade Organisation
WB- The World Bank
IMF- International Monetary Fund

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5
Q

where is the world bank and the IMF based?

A

Washington DC

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6
Q

where is the WTO based?

A

Geneva, Switzerland

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7
Q

what umbrella do the IMF, WB and WTO fall under.

A

The United Nations- in its economic section

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8
Q

IGOs

A

Intergovernmental organisations

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9
Q

The World Trade Organisation

A

aims to support free trade without barriers and to promote global flows of commodity and capital and facilitate economic growth and development.
-works with nations to enable free trade agreements and economic liberalisation through removing protection measures.

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10
Q

how many member states did the WTO have in 2016?

A

162 member states
-can act as a mediator in situations when agreements over trade become difficult, such as in 2020 USA vs China

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11
Q

The International Monetary Fund

A

maintains financial stability across the world, it tries to force countries to privatise government assets in return for loans to increase the size of the private sector, generating wealth.
-requires countries to adopt free market principles enabling flow of commodity and openness to FDI.
-people believe that this policy as forced poorer countries to sell off assets to wealthy TNCs

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12
Q

The World Bank

A

provides loans to countries requiring financial support for development projects
-uses bank deposits placed by the world’s wealthiest countries to provide loans for development in countries that agree to certain conditions, concerning repayment and economic growth

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13
Q

opportunities for IGO’s

A

economic development
-provide economic stability and policy advice for developing countries

trade facilitation
-WTO works to reduce trade barriers and promote free trade

conflict resolution
-try to promote peace and cooperation amongst countries

sustainable development is supported

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14
Q

challenged for IGO’s

A

misalignments
-between IGO and national policies of member states that can create conflicts

criticism for being too slow or inefficient

inconsistent and insufficient funding
-rely on member countries

global challenges
-such as pandemics and climate change pose issues that require coordinated global responses, this can be difficult to achieve with ongoing tensions and conflicts

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15
Q

3.2b
FDI

A

foreign direct investment

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16
Q

TNC acronym

A

MOAT

M ergers (foreign)- two or more companies come together
O ffshoring- elements of business are carried out in a foreign location
A cquisitions (foreign)- one company takes over another company
T ransfer pricing- locating financial HQs in countries with a favoured tax policy

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17
Q

how can FDI be facilitated

A

deregulation
-removing rules, for example environment and land rules
protectionism
-anything put in place that is a barrier to protect countries

however for flows of globalisation to occur efficiently, national government barriers and protections need to be removed

18
Q

name 3 economic strategies to support FDI

A

Free market liberalisation
Privatisation
Incentivisation

19
Q

how does free market liberalisation support FDI

A

-deregulation encourages and facilitates the flow of commodity and capital

20
Q

how does privatisation support FDI

A

-it involves taking national services our of the control of the government and into the hands of businesses
-this adds competition to the market, reducing prices and improving consumer service

21
Q

how does incentivisation support FDI

A

-encourages business start ups around the world
-gives grants, tax breaks and governments can provide infrastructure to attract FDI and businesses

22
Q

offshoring

A

TNCs set up production facilities in developing countries who have a large, cheap workforce

23
Q

example of offshoring

A

offshoring in China
-moved production to China
-workers have higher income for economic growth
-shared technology has increased production and efficiency

24
Q

foreign mergers

A

TNCs form abroad join to form one larger company

25
Q

foreign acquisitions

A

A TNC acquires another company from abroad
-this can be hostile

26
Q

transfer pricing

A

TNCs channel profits through subsidiaries in tax havens

27
Q

how can governments limit the effects of globalisation through policies?

A
  1. censorship
  2. limiting migration
  3. trade protectionism
28
Q

how does censorship by governments limit globalisation?

A

-restricts the flow of information and technology through internet and social media restrictions
-population has limited knowledge on foreign culture and practices
-this is usually in a dictatorship governance

29
Q

how does limiting migration by governments limit globalisation?

A

border control and migration monitoring is becoming stricter
e.g. in the UK and Japan

30
Q

how does trade protectionism by governments limit globalisation?

A

subsidies, quotas and tariffs that help a country to protect domestic industries

for example: oil exports are banned in the USA so all domestically produced oil must be used in the USA; India restricts foreign companies investing in its retail sector to protect Indian small shopkeepers from competition.

31
Q

what do free trade blocs offer?

A

they allow trade to move more freely, governments can sign agreements with each other to reduce restrictions of the flow of capital and goods
-this can encourage the movement of people, culture and knowledge.

32
Q

benefits of trade blocs

A

-businesses can access a larger market to sell too, increasing revenue
-other businesses benefit from a business increasing their volume of production with raw materials or having more skilled workers or outsourcing opportunities
-trade of essential materials and services become more reliable within a trade bloc- there is less economic risk

33
Q

drawbacks of trade blocs

A

-outside trading countries can become excluded and find it difficult to join in with the trading
-foreign industries and suppliers can be directly damaged to due competition
-does not guarantee fair treatment within, relationships may not become stronger or grow

34
Q

3.2c
what has improvements in transportation and ICT increased?

A

increased levels of global governance
-created opportunities for additional parts of the world to contribute in globalisation

35
Q

what have new global areas done to attract FDI from TNCs?

A

they have been created by their governments, reducing protectionist measures and placing certain strategies down

36
Q

acronym for established global zones

A

B razil
R ussia
I ndia
C hina

37
Q

India as an established global zone

A

-India has attracted FDI after being slow in liberalising in relation to trade
-protectionist measures have been reduced and FDI has increased, well educated population

38
Q

acronym for new global areas

A

M exico
I ndonesia
N igeria
T urkey

39
Q

movement between established global zones and new global regions is called….

A

GLOBAL SHIFT

40
Q

Indonesia as a new global regions

A

Indonesia has attracted FDI, created an attractive economy for businesses through the multiplier effect
-the world bank has supported their ambitions with loans granted for infrastructure

41
Q

name some strategies for attracting FDI

A

-trade liberalism
-reduction of protectionist measures
-incentivisation
-creation of SEZ

42
Q

explain China’s Open Door Policy

A

1978
-China changed their political attitude leading to more liberalisation and opening up FDI
-they agreed to export more raw minerals to other countries
-created SEZ for FDI
-led to rapid economic growth and superpower status
-exports increased from $2 billion to $200 billion

Geography A-level (8 decks)

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