Trade relationships and patterns

Question 1

issue for the EU and NAFTA of new trading blocs such as ASEAN becoming more dominant

Answer 1

EU and NAFTA may lose out from manufacturing in ASEAN trade bloc
trade competition
more political players- have to listen to their opinion
power demand in Asian countries if we become reliant on their products

Question 2

issues of new trading blocs such as ASEAN becoming more dominant for china

Answer 2

china may lose out because manufacturing may move to Thailand, Vietnam, etc
FDI move away from china, companies may choose to invest in up and coming countries like Thailand - loss of jobs in china
outsourcing

Question 3

what does ASEAN stand for

Answer 3

Association of South East Asian Nations

Question 4

china is a member of what trade bloc

Answer 4

APEC (Asia-Pacific Economic Co-operation)

Question 5

the banana wars were between which 2 entities

Answer 5

EU and USA

Question 6

why have tensions arose between trading entities

Answer 6

they all want to ensure the best deals for their citizens, their workers and businesses based within the group (including TNCs)

Question 7

examples of trade deals in the works

Answer 7

Trans-Pacific Partnership involving free trade between the USA and countries in Asia and South America
Transatlantic Trade and Investment Partnership between the USA and EU

Question 8

what type of economy has the USA traditionally been

Answer 8

protectionist

Question 9

why do conflicts arise over free trade

Answer 9

as there is always one country that loses out in the long or short term
there is no such thing as free trade due to imposed tariffs which can cause conflict or even outsourcing in an area as people don’t want to lose jobs- causes skills based unemployment

Question 10

what is the aim of the trans-pacific partnership

Answer 10

to deepen economic ties between these nations, slashing tariffs and fostering trade to boost growth

Question 11

how many countries are in the negotiation for the trans-pacific partnership

Answer 11

12 (includes USA, Australia, Japan and Vietnam)

Question 12

what topics does the trans-pacific partnership also cover

Answer 12

investment, patents, labour and environmental standard

Question 13

example of liberalist and protectionist POTUS’

Answer 13

Barack Obama- liberalist

Donald trump- protectionist

Question 14

arguments from US citizens against the trans-pacific partnership

Answer 14

fear it will favour big businesses and other countries at the expense of American jobs and national sovereignty

Question 15

what is the aim of the transatlantic trade and investment partnership (TTIP)

Answer 15

cut tariffs and regulatory barriers to trade between the US and member states of the EU

Question 16

why would the TTIP threaten the NHS

Answer 16

we rely on other countries for staff

Question 17

argument against the TTIP

Answer 17

argue that it will undermine democracy as it will give more power to TNCs above all democratically elected governments

Question 18

what is required to be a member of the G7 nations (according to the IMF)

Answer 18

high net national wealth

high HDI

Question 19

countries involved in the G7

Answer 19

Canada, France, Germany, Italy, Japan, the UK and the USA

Question 20

what is the G20 group (how is it different from G7)

Answer 20

is an international forum for the governments and central banks of 20 major economies. G20 was created to give a voice to the major developing economies

Question 21

examples of countries in G20

Answer 21

Australia, india, Italy, mexico, south Africa, EU (as a single member)

Question 22

what is china’s role in Africa

Answer 22

extract a range of primary resources including metals to support industrial expansion in china

Question 23

in 2014 how much was the value of trade between Africa and china

Answer 23

$200 billion

Question 24

how much of china’s foreign aid is distributed in china

Answer 24

over half

Question 25

what is flooding African markets

Answer 25

cheap Chinese goods

Question 26

benefits for Africa due to Chinese assistance

Answer 26

numerous infrastructure programs to build much needed roads, bridges, railways, schools and hospitals (help to bridge the development gap)

Question 27

example of how china aided healthcare in china in 2015

Answer 27

Chinese doctors played an important role in addressing the ebola outbreak in 2015

Question 28

how does trade with Africa benefit china

Answer 28

Chinese companies get new business investments

country as a whole gets steady access to much needed natural resources

Question 29

top 3 main exporters in 2016

Answer 29

1. china
2. USA
3. Germany

Question 30

top 3 main importers (2016)

Answer 30

1. USA
2. china
3. Germany

Question 31

location of top 3 FDI donors

Answer 31

1. USA
2. UK
3. Germany

Question 32

location of top 3 FDI receivers

Answer 32

1. USA
2. China
3. UK