UNIT 4 AOS 2 Flashcards
Define crisis diplomacy
Negotiations between actors in the global political arena in response to crisis, most commonly concerning conflicts and natural disasters but also economic and health crises.
Define international cooperation
The process when global actors work together to achieve common ideals and goals. international cooperation is often required to resolve contemporary crises which cross state boundaries and then threaten the security interests of the wider political community
Define sustainability
Most commonly used in relation to development policies. sustainability seeks to organise states and their economies so that current needs are met whilst not jeopardising meeting their needs in the future
Define utility of violence
Violence employed as a means of achieving one’s political objectives, commonly witnessed in global politics through conflicts and terrorist actions. Violence is purposeful and organised
Give an example of crisis diplomacy
Meetings between the EU and the IMF in response to the GFC and collapse of the Greek, Irish and many other European economies throughout 2008-2012
Give an example of international cooperation
When the UN backed ‘Operation Enduring Freedom’ created to rid Afghanistan of the al-Qaeda terrorist network and affiliated Taliban regime
Give an example of sustainability
China has committed to reducing its carbon emissions per unit of GDP by 40-45%by 2020 from 2005 levels and is aiming to increase renewable energy to 15% of its total energy consumption
Give an example of utility of violence
Traditionally perceived as an instrument of state power, violence and threatened acts of violence are increasingly utilised by terrorist groups as a means of achieving their objectives => 9/11 attacks carried out by al-Qaeda
Economic instability
Relates to the lack of regulation and control states have over economic activity within their borders, as well as the flux of markets and its effects on domestic living standards, employment and economic security
Boom Period
Unemployment is low, investment and production is high and a country’s GDP is growing
Bust Period
Unemployment is high, investment, production and GDP are all facing a down turn
Market Failure
Relates to when the market fails to deliver an efficient allocation of resources. this is when the level of demand for goods and services in the market is not equal to the amount supplied
Keynesian Response
Where governments act as the stabilising actor. An economic theory which suggests the necessity of governments to intervene in the markets during economic downturn. Suggested that governments need to stimulate the economy by increasing government spending and investment during economic hardship. Australia undertook Keynesian initiatives with the advent of the GFC and successfully prevented their economies from entering recession
Bail-outs
Where governments provide credit to a failing institution (be it a sovereign state, bank or financial situation) to prevent it going bankrupt and destabilising the markets and the economy
International Cooperation
International responses to economic instability come predominantly from the EU, G20 and the IMF. Increased regulations, financial assistance and austerity measures are the usual methods used by international institutions to address economic instability
