Liberalisation of Trade

Question 1

Define ‘liberalisation of trade’

Answer 1

The removal or reduction of trade barriers e.g. EU eliminating tariffs of Ghanan cocoa beans

Question 2

Companies can (1) from SEZs without incurring (2) so TNCs are encouraged to set up (3)

Answer 2

1 - import and export
2 - domestic taxes
3 - branch plants

Question 3

What the benefits of SEZs on the community?

Answer 3

Employment, payment of payroll taxes and technology

Question 4

Open door policies:

• New urban areas known as (1)
• By 2015, most workers were earning (2)
• The first reforms were in (3) agricultural communes were (4) and farmers for the first time could (5)

Answer 4

1 - instant cities
2 - $40 or more
3 - rural areas
4 - dismantled 
5 - make profit

Question 5

Open door:

• Estimated (1) out of poverty
• By 1990 (2) of China’s GDP was being generated in SEZs
• Over 30 years of China’s policies (3) left for the city
• An urban mega-region around the (4) and now conjoined (5)

Answer 5

• 400 million
• 50%
• 300 million
• Pearl River Delta
• 3 cities

Question 6

Closed door:

• They established their own factories many (1)
• Gov had a strict system called (2) which prevented (3)
• Around 1979 the (4) policy was introduced

Answer 6

1 - low wage
2 - hukou
3 - rural villages being deserted
4 - one child

Question 7

North Korea:

• Political isolation because it’s run in (1) by one (2)
• No access to (3)
• No (4) data cables
• Divided from S.Korea in (5)

Answer 7

• Autocracy
• Family
• Internet/ social media
• Undersea
• 1948

Question 8

N. Korea:

• GDP between (1) so food shortages and starvation are common
• Gov has (2) on information
• World’s least (3) despite (4) trade and (5) trafficking
• (6) index of economic freedom is restricted and controlled by gov

Answer 8

• $600-1700
• monopoly
• globalised economy
• arms and drug
• human
• heritage foundations