Membership Of IGO’s Flashcards
What is the main reason that IGO’s are so powerful?
The fact that nearly all countries are members of them
How many members does the UN have?
193
How many members does IMF have?
190
How many members does WTO have?
168
How are IGO’s and globalisation linked?
Large and powerful groups have driven global trade and accelerated globalisation and interconnectivity of states
What has there been an increase in regionally?
Trade blocs
Why are regional trade blocs increasing in popularity?
As they take into account more ‘local’ cultural factors
What are trade blocs?
When a group of countries join together and make trade easier between member states
What are the positives if trade blocs?
Lower prices on imported products
Increased export potential (more people to sell to)
Higher economic growth
Increased trade enables increased specialisation (benefit oof economies of scale)
Greater competition (prices lower for consumer)
What are the disadvantages of trade blocs?
Can lead to compromise as countries pool economic sovereignty (Brexit)
Move to free trade tends to create winners and losers (domestic losing to lower cost imports)
What is the EU in terms of its trade bloc?
The most unified trade bloc (despite UK leaving)
What makes the EU different from other international organisations?
The member states have delegated sovereignty
What is delegated sovereignty?
Means that some laws and regulations can be made by the EU not the government of the member country
How can the extent of the EU’s executive power be shown?
The fact that it sets over 80% of rules governing member nations
What is the Eurozone?
A monetary union of 19 member states of the EU that have adopted the euro as their primary currency and sole legal tender
