Superpowers EQ2 Flashcards
How do superpowers influence the global economy?
They promote free trade and capitalism through IGO’s such as the World Bank, WTO or World Economic Forum.
How is the world trade organisation relevant to superpowers?
Free trade = capitalists
Decision making favours the USA and EU as they have the most influence in mutual agreements.
USA dominates complaints (124) used to strengthen their own economy and political gains.
Overused to support trade interests.
No African country has ever complained.
USA complained in 1999 about India’s trade of automobile parts.
How does the International Monetary Fund relevant to superpowers?
Wealth and investment increases voting rights which can be used in the favour of self helping policies. USA 17% of the votes.
Lots of work has supported EU and USA policies such as Africa receiving loans in return for cutting back on healthcare and education spending.
How is the world economic forum relevant to superpowers?
Rich elite controlled, mainly male government officials, celebrities or CEO’s.
Used as an opportunity to make agreements and network.
International decision making supports those in power. Promotes global links discussing terrorism, social and economic policy.
Cape Town 2019, moves towards a free trade agreement across Africa.
How are TNCs relevant to superpower status?
eco example
Headquarter in HICS, large economic benefit.
Promote global ideology.
Invest in intellectual property laws.
Essential to the global shift in manufacturing.
Walmart produces the same revenue as Sweden, the 22nd largest economy.
Influence can be limited by closed door policies.
How is the world bank relevant to superpower status?
Finance development projects through loans with interest rates to developing countries.
The USA has the largest vote share, 40% of votes belong to eight countries.
Criticised for funding socially and environmentally damaging projects such as the Monte Belo Dam in Brazil.
What is an IP system?
Intellectual Property Laws protect ideas through patents, trademarks and copyrights.
Boosts existing superpowers as they are paid by others who wish to use their designs
Reduces the ability for poorer nations to develop and innovate as pre-existing ideas are too expensive.
85% of royalty payments are to USA, EU and Japan.
USA earns the largest share of royalties.
TNCs cultural influence
They spread western ideas creating a larger sphere of influence.
Disney plus is available in 53 countries.
Create support for ideology, becomes a fashionable or desirable way of life.
TNCs and technology
Use of patents limits technological developments.
Barrier to HIV treatment due to unaffordable pharmaceutical company prices, widespread in Africa
GM crops are controlled by TNCs, farmers are not allowed to save seeds from a crop, they must rebuy seeds from the supplier every year.
Failures of the WTO
COTTON: £47 billion has been paid in subsidies to developed countries farmer, limiting trade for west African producers causing a rise in poverty.
Failed to prevent G20 countries developing protectionist policies, despite this going against WTO ideas.
Complex and expensive legal system means no African country has filed a complaint.
Failures of the Word Economic Forum.
25% of guests are American and 10% are British.
2015 taxidermy afterparty was deemed inappropriate and frentic.
Superpowers play a role in global crisis.
Method of soft power, neocolonial power
Ebola Epidemic - UK sent £430 million and 150 NHS personnel.
Haiti Earthquake -USA/France provided 550 personnel.
China is rarely involved in global crisis.
Bosnian War - USA enforced no fly zone.
How does the UN Security Council relevant to superpower status?
Maintains international peace and security.
Five permanent members have veto power (China, USA, UK, Russia and France).
Larger role over international decision making, align global policies with their ideology. Set policies against rival ideologies.
2009 sanctions against North Korea, made unanimously. (failed 2016 more claims that North Korea were developing atomic weapons)
Veto in the UN security council example.
Russia have used their VETO 127 times (more than any other), mainly to prevent actions against Syria whose growth they support.
USA has used their veto to stop intervention in Israel, USA has a large Jewish population who support the growth of Israel over Palestine.
Cristised that veto prevents action in a humanitarian crisis.
How does the UN International Court of Justice relate to superpower status?
ICJ settles disputes between UN member countries and advises on international law, decisions are considered binding.
Five permanent countries (China, Russia, UK, USA and France) have more influence over international decision making, exert their sphere of influence and express political goals.
Limited in power as countries sometimes overrule decisions e.g Israel refusing the remove their boundary wall inside Palestinian territory.
