Unequal flows and power relations Flashcards
What is global governance?
The process of global management, where multiple nations act together in matters that affect the entire world.
Why do we need global governance?
- Protection of the global commons
- Governance keeps everything in order
What is an IGO (International Governmental Organisation)?
A group of member countries working together on issues of mutual self - interest.
What is an IFI (International Financial Institution)?
IGOs which are concerned with finance and trade and include the IMF, World Bank and WTO.
What is the IMF?
An organisation of 188 countries who work to promote financial cooperation between countries to reduce poverty (e.g promoting trade and high employment)
What is the UN?
An organisation which prioritises international peace, security and human rights and promotes the development of poorer nations through the IMF and World Bank.
What is the World Bank?
A source of financial and technical assistance to developing countries, mainly aimed at reducing poverty.
What is a TNC?
A global company which operates in more than one country
Give 2 examples of world issues.
- Rise of Hitler
- Great Depression
What are Bretton Woods institutions?
44 countries which aim to promote free trade amongst countries of the world to increase prosperity and avoid conflicts.
Why did the Bretton Woods institutions form in 1944?
- To prevent hyperinflation and make international trade easier
- Stabilise financial systems
- Remove barriers to trade and increase global wealth
Give 3 examples of Bretton Woods Institutions.
- The IMF
- The World Bank
- The WTO
What is protectionism in terms of global trade?
Restricting imports from other countries through methods such as tariffs on imported goods, import quotas and other government regulation.
