7.3 Emerging superpowers Flashcards
(43 cards)
What were the two organisations that BRICs created to increase their influence around the world?
The New Development Bank (NDP) will compete with the IMF to finance infrastructure and other development projects with a budget of US$50 billion
As a rival to the world bank, US$100 billion will be made available through the ‘Contingent Reserve Arrangement’
What do the two organisations created by the BRICs intend to do?
They try to meet the needs of developing countries that experience frustration having to implement pro-free market reforms before being allowed access to funds from the world bank.
How are BRIC nations at risk?
Brazil and South Africa economies were both badly affected by the 2008 global recession and China’s economy is based on high levels of debt which could trigger economic collapse
What is the influence of BRICs based on?
Their ability to purchase commodities and manufacture goods so that other countries are dependent on them
Who are the MINT countries?
Mexico, Indonesia, Nigeria and Turkey
What does the growth of BRICS and MINT suggest?
A multipolar world is developing
What are emerging countries starting to have more influence and a say over
Global environmental governance through their contribution to the UN climate change conferences. At the 2015 COP in Paris, Russia and China were two of the countries to send the highest number of delegates
How can BRICS influence the world economically?
They are the only $1trillion economies outside the OECD
However, growth rates have slowed since 2013 and consumer spending is still low due to their ageing population
How is the G20 influential economically?
they have a minimal impact on financial markets because discussions about change happen over a longer time period
More money is available for the IMF to help tackle a global recession
How is BRICS influential politically
China has become a mega trader which is larger than imperial Britain: commodity prices have soared while manufacturing prices have shrunk
How is the G20 influential politically?
Newer members tend not to keep agreements, but countries have started to share financial information to fight tax evasion and agreed to monitor one another’s actions
How is BRICS influential militarily?
They have an increased military expenditure with incursions into the South China Sea and NATO airspace, Ukraine and Georgia
Direct conflict with NATO would leave them outmatched
How is the G20 influential militarily?
They were divided over military action in Syria- Russia and China led opposition against the USA
Some countries are engaged in unilateral military actions, for example in Yemen
Is BRICs influential culturally?
No- cultural differences mean there is a lack of common understanding, which limits sharing of experience
Is the G20 influential culturally?
Yes- Indirect support for globalisation
Is BRICS influential demographically?
-large populations mean a huge labour market and flourishing unis with many science and engineering graduates
However, working age populations are shrinking and not all countries are creating enough jobs
How is the G20 demographically influential?
They are focused on creating economic growth by encouraging private buisness to invest in infrastructure and this will help to tackle youth unemployment
How is BRICs influential environmentally?
- three of the top 4 polluters are in BRICs
- However, they are starting to lead the world in renewable energy production, for example solar panel production in China
Is the G20 influential environmentally?
-they agreed a post recession ‘green stimulus package’ worth $1.1 trillion and committed to removing fossil fuel subsidies
- Have agreed on the need to tackle climate change and global health issues, for example; Ebola, but without committing money or agreeing targets
Who currently dominates the world economy?
The EU and the USA accounts for 46% of global GDP produced
What is the future of the EU?
They are often considered a world superpower, but there are issues with this view:
-the 27 states rarely agree
-Their economies have been weak since the 2008 recession
-ageing population
- Brexit means the EU has lost one of its biggest powers (the UK held 17% of its GDP)
- France is now the only nuclear power
-Other nations like France are also considering leaving
What was the combined GDP of BRICs in 2014?
US$16.4 trillion- about 8% less than the US
Who accounts for most of BRIC’s GDP?
China accounts for about 60% of its GDP
How influential is Brazil (economically, politically, militarily, culturally, demographically and environmentally)?
-produces half of South America’s GDP by relying on primary product exportation thanks to their level of natural resources
-second largest producer of biofuel and third largest of iron
-less stable politically in recent years due to corruption and protests
-It spends 60% of Latin America’s military budget but is the lest significant of the BRICs in this area
-Footballing nation- 2014 World Cup and 2016 Rio Olympics
-Brazil Carnival
-Contains half of all Latin America’s population
-the population is young
-Brazil’s biodiversity includes 13% of all known species, but deforestation and illegal poaching is becoming a greater issue
