MCQ TEST topic 1 Flashcards
What has historically underpinned the global economic system since 1945?
A system of rules and norms underwritten by America
Which recent American policy shift has threatened the global economic order?
Aggressive industrial policies and subsidies
What are the consequences of countries racing to subsidize green industries?
A dangerous spiral into global protectionism
Why is America focusing on reshoring industries like chipmaking?
To avoid dependency on China for crucial inputs
What impact is expected from reindustrialization and duplicating green supply chains?
Increase in costs for green transition and economic damage
Which of the following is NOT cited as a reason for global protectionism by the article?
Expansion of international free trade agreements
How does America’s protectionist policy affect its relationship with its allies?
It creates tensions and irritates its allies
What is suggested as a solution to rescue the global economic order?
Bolder American leadership rejecting zero-sum thinking
What triggered the American policy shift away from maintaining global economic norms?
The global financial crisis of 2007-09
Which of the following has been a major outcome of America’s aggressive industrial policy under President Biden?
Protectionist measures and export controls
Why is America’s approach to green industry and industrial policy seen as damaging to its allies?
It ignores the economic concerns of allied nations
Which country has banned the export of nickel, according to the article?
indonesia
Which type of future global economic order is discussed in the article as a possibility if protectionism continues?
A patchwork of antagonistic coalitions
