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World Issues CGW4U > Unit 3 Review > Flashcards

Unit 3 Review Flashcards

1
Q

India on the Move:

What types of ventures has Dr. Vijay Mallya undertaken? (Rich India)

A

Kingfisher Airlines (guest, not passenger), Beer, Fertilizer, Pharmaceuticals, TV Station (Good Times)

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2
Q

India on the Move:
Describe some of the economic opportunties that Mallya explains might present themselves with India’s changing socio-economic demographic?

A

Technology, cars, electricity
Education needed to develop economic growth and infrastructure because it is slow right now
Rising middle class: only 2% travel by air, 500 million 25 and under

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3
Q

India on the Move:

How has India’s economy changed since gaining independence from Great Britain in 1947?

A

Second rate economy

Gulf war, economic growth rate, economy collapse, rising middle class

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4
Q

India on the Move:

Innovative business outsourcing done today in India:

A

the reading of medical scans to India through the Internet

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5
Q

India on the Move:

India below the clouds?

A

“Another India”
Rural, nomads, transportation by camels instead of private jets.
Two realities in India. 800 million people in the countryside, slow progress. Agricultural.
More poor people than anywhere else in the world “balanced on the edge”
Cotton farmers, manure -> great labour, prone to disease.

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6
Q

India on the Move:

Cotton widows? Why do they exist?

A

Male farmers are miserable 24/7 and commit suicide because of their difficult lives and overwhelming debt. They believe ending their life is the only way to rid themselves of the pressure of debt. 1200 male farmers committed suicide. The wives are left to care for the farm on their own and support themselves, children, parents, and parents in law. Debt sometimes $700 USD

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7
Q

India on the Move:

Fundamental ‘problem’ with India’s economic ‘boom’?

A

Hasn’t created enough jobs.
Farmers cling to rural life because there are no better options. When farmers go to the city like Calcutta, they make a living from cleaning clothes, which is still labour intensive.

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8
Q

India on the Move:

Sima Malik’s living arrangement?

A

Mother sells spices, uncle died. Sima cares for aunt, mother, herself.
She is student, but they are so poor she had to practice math on the dirt floor. She is single, no suitor because one insulted poverty of family. She is qualified for jobs, has bachelors of commerce.
daily commute 4 hours total

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9
Q

India on the Move:

Economic opportunties that present themselves in Bangalore for young, educated Indians?

A

Kick started new economy. High tech in Bangalore. Cows meet silicon valley. English speaking engineers for India’s work at companies that are well exposed globally.

Examples: Yahoo, SAP (German cash registers)

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10
Q

India on the Move:

Motivation for Mahindra to innovate the global auto industry?

A

To create a new path to establish a place for India in the global auto industry. India is known for Jeeps, SUV (hybrids) innovation.

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11
Q

India on the Move:

Relationship between India’s infrastructure and economic growth?

A

Used to be trading giant in the world. However, infrastructure inadequate for trade. Trucks are very slow, so that is bringing down economic growth potential. There is corruption at borders. Spending only a quarter of what China is spending on infrastructure, needs to be improved through education.

Transpo trucks: 40khp in US, 11khp in India

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12
Q

India on the Move:

Most important employability skill for Indians to learn:

A

English. 22 official languages in India, English is binding language.

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13
Q

India on the Move:

KPR Mills factories? (good)

A

Workers work on rollerblades to avoid delay. Workers mostly from rural/poor villages. Idea is to have happy workers to have good productivity. Doing well by doing good. Workers get computer class, yoga, bachelors in commerce, campus setting, library, decent rooms. They gain education and money.

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14
Q

India on the Move:

Trickle down effect?

A

ex. Sunita’s driver. Indians get jobs, employ others, they employ more people, more jobs overall.

gradually benefit the poorest as a result of the increasing wealth of the richest.

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15
Q

Fortune 500:
The world’s 500 largest companies generate ________ in revenues and ___________ in profits in 2014, and employ ___________ people worldwide.

A

$31.2 trillion, $1.7 trillion, 65 million

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16
Q

Fortune 500:

Top three companies in revenue in 2014?

A

Walmart, Sinopec, Royal Dutch Shell

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17
Q

Fortune 500:

How long has the number 1 ranking company been on the global 500 list?

A

Walmart, number one for 21 years

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18
Q

Fortune 500:

Top 5 countries with greatest number of Global 500 companies?

A 
USA - 128
China - 98
Japan - 54
France - 31
UK - 29
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19
Q

Fortune 500:

Three largest Canadian companies on the list?

A

212 Manulife Financial
287 Weston
298 Power Corp. of Canada

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20
Q

Fortune 500:

$19 billion settlement of claims arising for the 2010 Gulf of Mexico oil spill.

A

BP

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21
Q

Fortune 500:

This auto manufacturer was stung in the past year by series of recalls related to faulty airbags.

A

Toyota

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22
Q

Fortune 500:
This company operates the world’s largest solar farm and is investing $65 billion over the next 5 years to upgrade its alternative energy supply.

A

State Grid

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23
Q

Fortune 500:

History of accusations of dealing with rogue states.

A

Glencore

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24
Q

Fortune 500:

Corruption crackdown targeted this company in 2014 after a 30% loss in profits.

A

Sinopec

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25
Q

Fortune 500:

New projects planned in Indonesia, Canada, and the Middle East after suffering a huge let down in the Arctic.

A

Exxon Mobil

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26
Q

Fortune 500:
Recently announced that it was planning to introduce line of low cost cars in China, a huge emerging market for the auto industry.

A

Volkswagen

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27
Q

Fortune 500:
Former chairman of this company, Zhou Yongkang, was sentenced to life in jail after an anticorruption campaign targeted this company as a result of a 17% loss in profits.

A

CMPC

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28
Q

Fortune 500:
This company’s main rivals, such as Target and Amazon, continue to force this company to innovate and offer healthier grocery offerings.

A

Walmart

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29
Q

Fortune 500:

This company swooped in to buy rival BG Group for $70 billion in early 2015.

A

Shell

30
Q

Multinational Corporation (MNC)

A

An organization that owns or controls production of goods and services in one or more countries other than their home country. Ex. Honda (retains japanese reputation)

31
Q

Transnational Corporation (TNC)

A

Does not identify with one national home but operates in several countries. Ex. Google, which is US setup, but operates in more than 40 countries and makes decisions on a global perspective

32
Q

Of the 100 largest economies in the world, over ____% are corporations

A

51

33
Q

Fortune 500:

Walmart’s revenue is equivalent to which country’s GDP?

A

Norway

34
Q

Top 200’s companies combined sales surpass combined economies of _____ countries

A

182

35
Q

Concession companies

A

A company created by an imperialist country to develop trade in its colonies, ex. the Hudson’s Bay Company

36
Q

Cash crops

A

A crop grown for sale rather than for personal use ex. bananas in Banana Republic.

37
Q

Neo-colonialism

A

A form of colonialism that developed principally after WWII based on economic dominance rather than political dominance.

38
Q

Neo-liberalism

A

A set of economic policies that reduce the role of government because government control and regulations are seen to impeded or distort economic growth, e.g. government deregulation industries, privatization of state-owned enterprises, and removal of restrictive trade practices.

39
Q

Mercantilism

A

A system of trade in which the mother country viewed its colonies as sources of raw materials as well as captive markets for its manufactured goods.

40
Q

Colonialism

A

Acquisition and settlement of a territory or country by another nation.

41
Q

Free market economy

A

An economic system in which the prices of all goods and services are determined by supply and demand in the absence of other factors like government action or monopolies.

42
Q

Command economy

A

An economic system in which the supply and pricing of goods and services are determined entirely by government as part of a total plan.

43
Q

Mixed economy

A

An economic system that combines elements of both free enterprise and government intervention.

44
Q

Economic liberalism

A

An economic system that functions without the intervention of government. The concept was developed by Adam Smith in 1776 as an alternative to mercantilism.

45
Q

Keynesian economics

A

Economic system advocating government spending to create jobs in poor economic times. A government-sponsored policy of high employment is viewed as the means to relieve economic depression.

46
Q

Non-tariff barriers

A

Government policies that require domestic purchases, and other barriers to free trade.

47
Q

Plantations

A

Large farming operations used to grow tropical and subtropical crops.

48
Q

Land Tenure

A

Farms and plantations owned by individuals or large companies, and land owned and worked by collectives.

49
Q

Economic globalisation

A

the trend towards a worldwide economic system that permits easy movement of goods, production, capital, labour, and resources. Occurs as trade restrictions such as tariffs and quota system, are removed in favour of freer trade.

50
Q

Cola Conquest:

Coca-Cola and the Statue of Liberty have become:

A

symbols of america, freedom, american dream

51
Q

Cola Conquest:

Next target for Coca-Cola?

A

To target young people, and to be #1 beverage on Earth. Wants to surpass coffee, tea, wine, beer

52
Q

Cola Conquest:

When did Coca-Cola first arrive in China? How was the beverage received?

A

Shanghai late 20s. Banned by Mao, re-entered in 1988. Taste described as Chinese Medicine

53
Q

Cola Conquest:

How is Coca-Cola trying to conquer China’s culture?

A

Making it accessible. Investing 500 million dollars to build facotories

54
Q

Cola Conquest:

After WWII, what influences spread in France?

A

Liberty=happiness wine=pride, Coca-Cola and American culture rejected

55
Q

Cola Conquest:

Reaction to Coca-Cola by some in France

A

Resisted but then absorbed American culture, tried burning because wanted to attain wine culture.

56
Q

Cola Conquest:

How has Cola permeated Mayan religion?

A

Become part of rituals, ritual objects, consumed quickly. became holy water, replaced liquor

57
Q

Cola Conquest:

Hard Power vs. Soft Power?

A

Hard power - > use of military and economic means to influence the behavior or interests of other political bodies. often aggressive
Soft power - > capacity to influence culture, manipulate psychology

58
Q

Cola Conquest:

1970s Coca-Cola bottling plant in Guatemala?

A

Coca-cola=murder
company tries not to get involved in politics
unionized employees begin to get murdered
got involved in politics
manager hated pepsi, unionization, communists

59
Q

Cola Conquest:

Conflicting views for and against “Cola” consumption in China

A

Likes: seduced by american lifestyle, like consumerism.
Dislikes: claims coca-cola is cultural invasion, citizen before consumptions

60
Q

Cola Conquest:

How does drinking cola promote a global monoculture?

A

All cultures have one thing in common, brings world together

61
Q

Economic disparity

A

The economic differences between the “haves” and “have-nots” economic growth not share equitably

62
Q

Developing countries pay US$____ debt for every dollar received in aid

A

13

63
Q

9 Causes of Economic Disparity:

A 
impact of Colonialism
lack of Investment
Disease
foreign Debt
War
lack of local Control
trade Inequities
Leadership issues
Population growth

CIDDWCLIP

64
Q

Development assistance

A

money moves from rich to poor (foreign aid)

65
Q

Official development assistance

A

delivered by governments

66
Q

private development assistance

A

delivered by NGOs

67
Q

Civil society

A

largely unorganized groups that include many NGOs and independent citizens concerned about labour rights, the environment, human rights, and social development

68
Q

The International Monetary Fund (IMF)

A

NOT FREE, has interest attached
maintain currency stability and develop world trade
multilateral system of payments between countries based on field exchange rates and complete convertibility from one currency to another
LAST RESORT, EMERGENCY

69
Q

World Bank

A

originally to aid reconstruction after WWII in damaged areas, later extended goals to include developing countries to raise standard of living

70
Q

World Trade Organization

A

A set of rules to govern world trade, stop protectionist policies that crippled world economy in the 1930s, impose sanctions when countries don’t follow the rules

World Issues CGW4U (3 decks)

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