Superpowers - EQ1 - 7.3 Flashcards
Who are the BRICS nations
- Brazil
- Russia
- India
- China
- South Africa
……… is re-emerging as a major economic power following the collapse of the ………. in …..
- Russia
- USSR
- (1991)
The …. has expanded and become one of the world’s largest……………………….
Its expansion means that it can now compete with ……….. in terms of economic power
- The EU has expanded and become one of the world’s largest economic trading bloc
- Its expansion means that it can now compete with USA in terms of economic power
List a variety of ways the USA exerts their superpower status
- membership of intergovernmental organisations like the IMF, & Bretton Woods Institutions the World Bank & WTO
- NATO & status as a nuclear weapon state
- Americanisation & TNCs
- Geographical location & population size
- Political influence, OECD
- Natural resources & military dominance
- Outsourcing of manufacturing & telecommunications
- Developments in space
Why can the BRICS nations not currently rival the USA as an economic superpower
- Their combined GDP in 2014 was US$16.4 trillion - about 8% less than the USA
- China alone accounts for approximately 60% of the total GDPP of all five BRICs
Why is China the most likely rival to the USA’s current hegemony
- it has huge human resources
- its economy has grown massively since 1990, and shows few signs of slowing down
- it increasingly engages with other parts of the world, notably by investing in Africa in terms of mineral resources
- it has military ambitions to build a blue water navy, operating beyond its coast
- blue water navy = operates in the open ocean
- green water navy = operates close to the coast
Across the 20th century, how has the global economy’s most dominant powers changed
- Europe’s and the USA’s share of world GDP has been in decline since about 1945 and 1990 respectively - yet are both still around 20%-
- Having declined up to 1960, China and India are now becoming increasingly significant to the global economy
What actions of international cooperation is it likely that emerging nations will take
- demand more say in global organisations like the United Nations: there is a case for India having a permanent seat on the UN Security Council
- have more influence over global financial decision-making at the World Bank, IMF and WTO
- play a greater role in international peacekeeping missions and disaster response, as their military capacity grows
Who are the MINT nations
- Mexico
- Indonesia
- Nigeria
- Turkey
- said to be the next economic giants
Who are the ‘Next Eleven’
- The MINTs
- Iran, Egypt, Bangladesh, Pakistan, Philippines, Vietnam and South Korea
- a group of eleven countries identified by Goldman Sachs as having the potential to be the largest economies of the 21st century
Who are the Maghreb countries
- Algeria
- Libya
- Mauritania
- Morocco
- Tunisia
- Western Sahara
Who are the African Lions
- Ethipia
- Ghana
- Kenya
- Mozambique
- Nigeria
- South Africa
Who are the CIVETS
- Columbia
- Indonesia
- Vietnam
- Egypt
- Turkey
- South Africa
Why is South Africa sometimes included in the BRIC nations
- its economy is not significant enough, but it was officially made one in 2010
Who are the G20 countries
- Formed in 1999 & meet annually
- It is made up of 19 countries plus the EU
- It includes BRICS, MINT, EU, USA & Japan & some potential emerging powers like Mexico, Indonesia, South Korea, Saudi Arabia & Turkey
What is the cultural influence of the BRICs
- Cultural differences mean there is a lack of common understanding, which limits sharing of experiences
What is the cultural influence of the G20
- Indirectly support the spread of globalisation
What is the economic influence of the BRICs
- They are the only US$1 trillion economies outside of the OECD.
- Growth rates have slowed down since 2013, and consumer spending is still low due to ageing populations.
What is the political influence of the BRICs
- China has become a ‘mega-trader’ larger than imperial Britain: commodity prices have soared while manufacturing costs have shrunk
What is the military influence of the BRICs
- Increased military expenditure with incursions into South China Sea & NATO airspace, Ukraine and Georgia
- Direct conflict with NATO would still leave them outmatched.
What is the demographic influence of the BRICs
- Large populations mean a huge labour market and flourishing universities with many science and engineering graduates
- Working-age population are starting to shrink, and not all countries are creating enough jobs
What is the environmental influence of the BRICs
- Historic rise in greenhouse gas emissions: three of the top four polluters are BRICS countries.
- Starting to lead the world in renewable energy production, for example, solar panel production in China
What is the economic influence of the G20
- Minimal impact on financial markets because discussions about change happen over a longer time period
- More money is available for the IMF, to help tackle global recessions
What is the political influence of the G20
- Newer members of the G20 tend not to keep agreements and commitments as seriously
- Countries have started to share financial information to fight tax evasion, and agreed to monitor one another’s action
What is the military influence of the G20
- The G20 was divided over military action in Syria - Russia and China lead opposition against the USA
- Some countries are engaged in unilateral military action, for example Saudi Arabia in Yemen
What is the cultural influence of the G20
- Indirectly support the spread of globalisation.
What is the demographic influence of the G20
Focused on creating economic growth by encouraging private business to invest in infrastructure; will help to tackle youth unemployment.
What is the environmental influence of the G20
- Agreed a post-recession ‘green stimulus package’ worth US$1.1 trillion and commitment to remove fossil fuel subsidies
- Have agreed on a need to tackle climate change and good health issues, for example Ebola; hut without committing money or agreeing quantitative targets
What are the strengths of Brazil
- Economic: economy reached US$ 2.6 trillion in 2010, 9th largest GDP
demographic: 40 million Brazilian population - big market
Huge natural resources and farming potential
Modern economic structure - Environmental: Amazon rainforest
- Brazil
What are the weaknesses of Brazil
- Economic: an economic crisis 2014-17 saw Brazil’s GDP fall by nearly 4%, Economy has boom and bust cycles
- Political: serious political corruption involving state energy company, limited military strength
- Environmental: some politicians want to cut down rainforest to boost development
What are the strengths of Russia
- Military: very strong military, both for conventional and nuclear arms
- Economic and political: rich in resources, especially oil and gas
- Cultural: effective soft power through manipulation of social media
What are the weaknesses of Russia
- Economic: GDP dependent on oil price: Russia’s GDP shrank from US$2.2 to 1.2 trillion between 2013 and 2018
- Demographic: very high inequality & ageing population
- Political: hostility against Russia, including economic sanctions from EU, USA
*
What are the weaknesses of India
- Economic and political: more than 70% of rural population still live in poverty
- Economic: weak infrastructure (roads, rail)
- Environmental and demographic: rapia population growth is causing major environmental damage