Changing economic world Flashcards
(23 cards)
What is the case study for an LIC/NEE that is experiencing rapid economic growth?
Nigeria
What is a TNC and definition
Transnational corporation= a large company that operates in several countries
What are the types of aid?
- short-term
- long-term
- tied
- charitable
- bilateral
- multilateral
What are the advantages of TNCs
- companies provide employment and development of new skills
- investment by companies in local infrastructure and education
- valuable export revenues are earned
- other local companies benefit from increased orders
Disadvantages of TNCs
- local workers are sometimes poorly paid
- working conditions are poor
- management jobs go to foreign employees
- much of the profit goes abroad
What is tied aid?
- aid may be given with certain conditions
What is charitable/ voluntary aid?
Money donated by the public and distributed by NGOs such as Oxfam
What is multilateral aid?
rich governments given money to an international organisation, e.g. the World Bank, which then redistributes to poorer countries
What is bilateral aid?
aid from one country to another (often tied)
what is short-term aid?
- emergency help usually in response to natural disaster
What is long-term aid?
- sustainable aid that seeks to improve resilience
What is the case study for a TNC in Nigeria?
- Shell Oil- extracted oil from Niger Delta since 1958
What are the advantages of Shell Oil
- has major contributions in taxes
- provided direct employment for 65,000 Nigerian workers
- provided 250,000 jobs in related industries
- 91% of all shell contracts have been placed with Nigerian companies
- Shell foundation
What are the disadvantages of Shell Oil?
- frequent oil flares sent toxic fumes into the air
- Oil spills have caused water pollution, and soiled degradation - 9 billion barrels worth since 1958
- Oil theft and sabotage, cost TNCs and the government billions of dollars every year
- exploitation of workers- poor wages and bad working conditions
What is Nigeria’s global importance?
- Nigeria supplies 2.7% of the worlds oil
- 5th largest contributed to the UN peacekeeping missions
- developed a diverse economy, including financial services, telecommunications and media
What is Nigeria’s regional importance?
- One of the fastest-growing economies in Africa
- largest population of any African country
- in 2014 it had Africa’s highest GDP and third-largest manufacturing sector
- highest farm output in Africa, large proportion of people are employed in agriculture
What is the quality of life like now Nigeria is more developed?
- higher disposable income
- improvements to infrastructure
- better access to safe, water and sanitation
- reliable, better paid jobs
- improved access to better diet
- better quality healthcare
- reliable electricity supply
Effects of industrial growth on the environment?
- industrial pollutants go directly into water channels
- industry emits poisonous gases that can cause respiratory and heart problems
- 70-80% of Nigeria’s forests have been destroyed to agriculture, urban expansion and industrial development
Effect of commercial farming + deforestation on the environment?
- water pollution, due to chemicals, sideration and silting of river channels
- many species have disappeared due to deforestation
Effect of urban growth on the environment?
- waste disposal
- traffic congestion
- development of Abuja=areas of rich vegetation being turned to concentrate
Effect of mining and oil extraction on the environment
- Oil spills can cause fires, causing CO2 and other harmful gases
- Bodo oil spills- in 2018 and2009, 11 million gallons of crude oil spilt over 20 km² area around Bodo, destroying everything
Examples of aid given in Nigeria
- The community care in Nigeria provides support for orphans
- Aid from the USA helps protect people against the spread of AIDS/ HIV
- Nets for Life (an NGO) provides education on malaria and distributes anti-mosquito nets
- World Bank approved a US$500 million loan to fund development projects and provide business loans
What is Nigerias economy like?
Shifting from mainly primary based - reliant on farming and extraction- to more secondary (manufacturing) and tertiary (services)
