Unit Four Flashcards

Question

What is concession companies ?

Answer 1

Run by government British East India Company Had own military Government sanctioned company

Answer 2

Land Tenure Introduced private ownership Only a few people owned a great deal of land 78% of white people own land and make up 8% of the population Plantations Best land went to concession companies owned by europeans Popular for coffee, cotton, sugar Mass quantities Cash crops Crops that are just meant to make money No food security Can't survive on tea, coffee, chocolate Lack the ability to provide food for self

Answer 3

they began gaining independence, people didn’t know what they were doing and maintained cash crops, and were not able to support food for the population Colonialism did not look at the needs of africans. Farming system was undermined making them unable to feed themselves.

Answer 4

Mining forestry, agriculture paid little attention to environment protection Foreign political systems Dictators came out of the colony role and after independce took contorl

Answer 5

Heart of africa Extracting rubber Gad to smeer self with the latex and pull it off their body Strict with money spending Soldiers chop off people hands and feet as “proof” they used the bullets Present day → brutality still exists today → neo colonialism

Answer 6

The conscious effort of an imperialist power to create and or turn to its own advantage the ethnic, linguistic, cultural, tribal, or religious differences within the population of a subjugated colony Eg. Rwanda machetee genocide Two existing difference give benefits creates conflict → they are too busy fighting each other to look at the colonizer

Answer 7

Pressure on europe to de colonize and give back land Not a smooth transition Lots of trauma

Answer 8

The way that we still control countries that were once colonized through economics (debt)

Answer 9

Debt european countries had in africa stayed in africa when they gave back independence Started off with tremendous debt

Answer 10

Debt that is incurred illegally Dictator take on debt and spend on himself (yachts, etc)

Answer 11

Cultural impact → carving up africa Lasting trauma Cash crops (commodities) = food insecurity today Slave trade Dictators → political leaders - military Debt Mercantilism → goes back to mother country

Answer 12

US developed After WW2 → US gave $ to europe To help and assist europe rebuild (didn’t want them to fall under the soviet union and communism) “Development assistance”

Answer 13

Stabilize currency Establish policies to help prevent an even like WW2 again Created world bank → most western developed countries can put money in to help develop other country Put a percent based on your GDP Rise of America IMF → make sure that people are using the money properly to get back on track Criticism: targets of the anti-globalization movement Looked at as leftovers of colonialism Neocolonialism

Answer 14

2 big oil shocks due to military and political reasons Oct 1973 (organization of Arab Petroleum) → Oil embargo Cut production on purpose US was supporting Israel war making arab countries upset Could not get gas Gas price shot up dramatically What does this do Caused arab countries to make lots of $ Put the lots money into commercial banks, who need to lend it out to make money Started pushing loans onto newly independent states (Jamaica, Sub Saharan Africa)

Answer 15

Massive inflation turned into a recession US efforts to stop inflation by tightening the $ supply and increased federal interest rate Dollar interest rate shot up sharpley even to 20% Hurting the developing world This slowed the economy down but slowed the inflation problem

Answer 16

The highly in debt countries faced payment issues when interest rates increased Mexico said they can service our debt anymore Countries said we can’t pay → lead to economic collapse US says lets help

Answer 17

Give developing countries short term loan Offer to loan these countries money Got these countries to do things or give up things in return Took advantage If you didn’t play ball CIA close behind “Structural Adjustments” Countries don't want to default

Answer 18

Provide a rescue package however require conditionalities Eg. You must deregulate industries, privatization, trade liberalization (get rid of import duties), to stimulate private industry Theoretical background strategy → Neoclassical development economics Assumes private sector will will grow strongly, once macroeconomic instability and government intervention are removed

Answer 19

Restriction - Purpose - Reality for citizen Reduce value of currency - Make exports more attractive - All imports become more $ Increase exports - Earn foreign dollars- Accelerate economic issues Restrict social spending - Direct spending to paying off debt - No new schools, hospitals gets Reduce trade barriers- Open country to global market- Harms your local industry can’t compete with foreign subsidized goods

Answer 20

Cheaper in Jamaica to get US powdered milk than Jamaican fresh milk Forces Jamaica to buy from US forever

Answer 21

Bolivia had to take on IMF and world bank One of their conditions was to privatize the water system Not allowed to collect rainwater

Answer 22

spreading your influence and control around the world IMF and world bank was viewed as an extension of imperialism A way for the west to keep other countries under control

Answer 23

World Trade organization International institutions used to help us all cooperate together Set rules around global trade Make sure it is smooth and peaceful If signed on their rules become a part of a country's domestic legal system

Answer 24

When the British left Jamaica they offered that they would buy Jamaican bananas Del Monte and … lobbied the US to bring this to the WTO Ruled in favour that the British can’t only buy from Jamaica Jamica can’t compete Nicerguaga has unbelievably low conditions and cheap costs

Answer 25

the belief that markets and businesses should decided everything, let them run free

Answer 26

Economic policies and recommendations for developing countries Agreement between the IMF, world bank , and US department of treasury Shared neoliberal view → free market Will result in economic growth that will trickle down

Answer 27

Reduce government spending Reduce income tax especially corporate tax Reduce government regulations Tighten money supply

Answer 28

At this time higher Gini Index (more inequality) Rich got richer fast US policy spread through other countries cause their gini coefficient to rise

Answer 29

Latin americans shifted their views Turned to the pink tie Left wing politicians cam to light as a push back to western

Answer 30

Neoliberalism → if we can grow the economy everyone will benefit Pushback: the idea that there is such divide between the rich and poor Rich will get richer The very poor will not benefit

Answer 31

Economic ideology Political doctrine The idea that those who have money should be free to do what they want with it Market society Belief in market forces Rejection of government intervention in markets, unless it is for a business to help them flourish The market is an information processor more powerful than any human being Free market Intervene for business → to further economic prospects to make money

Answer 32

Little regulation Little concern for labour rights, human rights, Who can do it the cheapest Corners will be cut Ranaplasa → building collapsed

Answer 33

Without sweatshops the alternative is often worse Sweatshops safety net → temp short term relief Stepping stone for women Manufacturing sector shrinks as the Keep factories in developing world, but ask for more → safer environment and equipment Economic growth leads to development and supply hospitals, education, doctors