EQ2 superpowers Flashcards
(90 cards)
1
Q
features of free market capitalist economy
A
- people own businesses and employ workers to make profit
- free trade across borders promoted
- dominated by private enterprise instead of gov owned companies
- promote wealth creation and accumulation by individuals
2
Q
what is free trade
A
international trade without restrictions such as import/ export taxes and quotas restricting the volume of trade
3
Q
features of centrally planned economy
A
- government ownership of property and land
- state owned businesses, wages determined centrally
- profits taken by government for public services
- prices controlled by government
4
Q
examples of free market capitalist economies
A
USA, Canada, Japan, Western Europe
5
Q
examples of centrally planned economies
A
USSR, China, Eastern Europe, Cuba
6
Q
when and why were IGOs created
A
end of WW2
created by EU and USA to promote free market capitalism
7
Q
what are the IMFs goals?
A
- founded 1945
- promotes global stability using Structural Adjustment Plans
- aids economies in opening up to world trade and investment
- comes to the aid of countries in economic difficulty
8
Q
what is the World Economic Forum (WEF)
A
- founded1971
- swiss non-profit organisation
- acts as a forum for discussion between businesses, politicians and IGOs
- pro-free trade and pro-TNC
9
Q
what is the World Bank?
A
- founded 1944
- lends money to developing and emerging countries to promote economic development
- done using western capitalist model
- money originates from developed countries
10
Q
what is the World Trade Organisation (WTO)
A
- founded 1947
- works to remove barriers to international trade
- negotiated series of global free trade agreements that have gradually removed trade taxes and quotas
11
Q
what % voting power do the US have
A
16.5%
12
Q
why can US veto IMF decisions
A
85% needed to pass a motion
US vote against means 84% even if everyone else votes yes
13
Q
what are the two types of TNC- give examples
A
Public TNCs- owned by shareholders
e.g. apple, tesco, shell, zara
State led TNCS- owned by the government
e,g, bank of China, EDF, petronas
14
Q
2020 Top 3 TNCs and revenue
A
USA- Walmart - $559Bn
USA- Amazon - $386Bn
China- State Grid - $383Bn
15
Q
Where are State led TNCs more common
A
centrally planned economies
China, Russia
16
Q
what is Chinas largest state owned TNC?
A
Industrial and Commercial Bank of China
top 4 are all bank
17
Q
advantage of having large state-owned TNCs
A
long term development plans:
road, rail, ports, renewable energy, neo-colonial investments in other continents
18
Q
disadvantage of having large state-owned TNCs
A
- corrupt
- dicourage private investment and innovation
- vulnerable to accumulating large levels of debt as a result of inefficient operations
19
Q
how many people does Walmart employ worldwide
A
2.2 million
20
Q
what 2 countries total GDP is equal to Amazons annual revenue
A
Argentina and Ireland
21
Q
what % of the world’s 2000 biggest companies in 2020 were from EU, USA and Japan?
A
60%
25% USA
22
Q
how do TNCs maintain power and generate wealth?
A
- Foreign direct investment control
- Funding new technology
- control over patents
- footloose so influence countries boom and bust cycles
23
Q
what % of patent royalties are paid to EU, US, and Japan?
A
90%
24
Q
what is culture
A
system of shared beliefs, values and traditions, including behaviour, dress, art, language, food, relationships, religion and political view
25
characteristics of western global culture?
- individual freedom and rights (gender, religion)
- western capitalist model, wealth accumulation = successful
- importance of leisure
- importance of latest tech which can solve problems
- living in a small family unit
26
who and when had the global police idea? what is it?
1942- Roosevelt
'USA, UK, Russia and China should police the world'
27
which super powers in particular act as global police
USA, Europe to lesser extent
28
what are some global actions taken by superpowers
- intervening in war and conflict - when internal conflict threatens to spill into other countries
- crisis response- famine, natural disaster etc
-terrorism response
- response to longer term threats- climate change
- sanction, invasion, fines, support, trade rules
29
what is a military alliance
treaty between countries which usually involves mutual defence
30
what is mutual defence
if attacked, all members will come to aid of attacked country
31
why are military alliances desirable?
3 reasons
- increase network of military assets spread across world
- political and economic allies can form large bloc to force agenda on rest of world
- allies can be 'eyes and ears' in distant parts of world to spot rouble as it develops
32
how much did USA and its allies spend in 2020
$1.14 trillion
60% of global spending
33
what is the largest global alliance
NATO
34
what does NATO stand for
North Atlantic Treaty Organisation
35
how many members in NATO
31 (2023)
36
what is ANZUS
Australia, New Zealand and US security treaty
collective agreement signed in 1951 to protect security of pacific
37
what was ANZUS in response to
concerns that UK couldn't protect regions in WW2
38
strengths of ANZUS
- joint efforts to advance human rights
- promoting international rules-based order
- assisting pacific neighbours
- cooperating on issues of global concern
39
what does the ANZUS treaty require members to do
- maintain ability to resist armed attack
- consult with each other on security matters in pacific
- act to meet any common danger in accordance with constitutional processes
40
what does SCO stand for
Shanghai Cooperation Organisation
41
what is SCO
set up 1996 between Chiina, Kazakhstan, Kyrgystan, Russia, Tajikistan and Uzbekistan
India and China joined in 2017
security and economic organisation, becoming more strategic partnership in Asia
some countries have observer status- iran, belarus, afghanistan
42
what is SCO against
western liberal democracy
potential eastern rival to NATO?
43
what do countries involved in SCO cooperate on
- security- counter-terrorism and cyber-warfare
- military matters- joint exercises ad 'war games'
- cultural and economic co-operation
44
what do economic alliances involve
signing free trade agreements allowing tax tariffs and quota-free trade in goods and services between member countries
45
what is the largest economic alliance and how many members does it have
EU, 27 as of UK brexit
46
what is the UN
United Nations
set up 1945
part of an attempt t create new order or peace, prosperity and stability to avoid further world wars
47
what is the most powerful decision-making body within the UN
UN security council
48
what does the UN security council make decisions on
- taking military action against countries seen to be breaking international law or persecuting people
- UN peacekeeping force
- applying economic or diplomatic sanctions to countries - force to change behaviour
49
who are UN security council
UK
USA
France
Russia
China
50
who traditionally vote together on security council?
UK, USA, France vs. Russia, China traditionally (western vs eastern)
USA sided with Russia Feb 2025, unprecedented
51
what sets 5 permanent members of security apart
they have veto power
52
what is UN security council goal?
- keep international peace and security
- encourage international friendship among nations
- cooperate in solving international problems and promoting general development of human rights
- Serve as centre to humanise actions of nations
53
what does the UN international court of justice do?
upholds international law
uses western legal framework - reflecting USA and European powers set up
54
what does UNFCCC stand for
UN framework convention on climate change
55
what are the 4 pillars of global security?
political (security council)
economic (IMF, WB)
social (WHO)
judicial (international court of justice)
56
what are the top global security threats?
- cybersecurity
- emerging technology
- geopolitical tensions and military conflict
- poverty and social inequality
- pandemics and epidemics
57
what are cybersecurity related security threats?
- malware
- deepfakes
- misinformation
threaten supply chains, democracy ad financial stability
58
example of emerging tech that could cause issues
AI
59
what are examples of geopolitical tensions and military conflict that could threaten global security?
- israel-palestine
- russia-ukraine
- US -China naval accident
all lead to global impacts with potential terror and nuclear threat
60
examples of pandemics which could act as security threats
ebola
covid
other unknowns
61
how are economic alliances influential in global decision making
- blocs have huge trading power and keep involved countries switched on
- highest GDP usually controls bloc so has most economic gain from it
62
what can reduce decision making powers of economic alliances
- they can break down- decision making shifts
- voluntary so less stable
- softer power than military
- if shared currency fails then huge risk of decreased influence
63
how are military alliances influential in global decision making
- original powers still in charge
- protector power in charge so can make decisions
- allows hard power interventions to be made
- mutual defence agreements create stability so economic alliances flourish
64
what can reduce decision making powers of military alliances
- catastrophic if fail
- other countries threatened/ feel at risk can act aggressively or defensively
65
how many earths needed if everyone used resources at same rate as the US?
5
66
how many earths needed if everyone used resources at same rate as the UK?
2.8
67
what resources are required to maintain a large economy, wealthy popn, global reach?
energy
minerals
land
water resources
68
what does MTOE stand for
million tonnes of oil equivalent
69
why does europe and japans predicted energy demand decrease?
- more efficient energy use technology
- industrial centre has moved away from them
70
why is urban air quality low in emerging power cities?
coal- burning power stations
dramatic increase in car usage
71
what is WHO PM2.5 and PM10 limit? what do many chinese cities including beijing reach?
WHO- 25 per cubic meter
most cities- 200pcm
beijing- reaching 800pcm (32x recommended)
72
what income do goldman sachs bank consider middle class ?
$6,000 < x > $30,000
73
how many people enter growing middle class each year?
100M
113 million expected in 2024
74
how do world data lab define the middle class?
someone who spends at least $12 a day (PPP)
75
how many new asian consumers in 2024 were predicted
91 million
31 china
33 india
76
where does goldman-sachs believe egypt and nigeria will be in 2075
5th and 7th largest economies in the world
surpassing Japan, Germany, UK
77
how does increase in middle class impact annual economic growth?
every 10% increase in middle class results in extra 0.5% annual increase in economic growth
78
impacts of middle class growth on food
- pressure on food supply- new souces needed
- land used for grain converted to livestock farming
- prices driven up, impacts poorest
79
impacts of middle class growth on energy
- increased energy demand by 30% in 2030
- supply issues as more people get cars, home appliances, computers and cars
- prices driven up, poorest impacted
- countries with domestic energy supply having less issues
80
impacts of middle class growth on water
- 2030 predicted 60% India water scarce
- supply issues as tap water becomes norm
- urban water supply an issue in China, Nigeria and Indonesia
81
impacts of middle class growth on resources
- demand for rare earth metals driving gadget price up
- Basic metals (sopper, tin) becoming scarce)
- demand for lithium batteries hard to meet
82
consequence of growing middle class in BRICS
- price of key resources higher
- non renewable resources dwindle
- more mining and oil drilling as pressure on supply of natural resources
- more pollution and emissions, incineration of waste and landfill sites
83
what % of emissions were superpowers responsible for in 2019
65%
84
hw do attitudes towards the environment vary between powers?
EU- flatlined emissions due to renewable investments, willing to commit to targets
USA- CO2 flatlined due to efficiency, changeable attitude pre trump. now pulled out of paris agreement again
BRICS- CO2 rising to prioritise economic development, wont commit to targets
85
what was agreed at paris summit 2015
all countries agreed to reduce emissions
China agreed to reduce after 2030
USA signed and pulled out
keep warming below 2 degrees
86
what was agreed at cop26
reduce coal usage directly
promised money to LICs facing impact
china and India changed coal pledge
87
what was agreed at cop28 2023
established a loss and damage fund for most vulnerable countries
Net zero by 2050, phase out fossil fuels
$30 Bn private market climate capitol invested in private sector
88
what was agreed at 1997 kyoto protocol
developed nations pledged to reduce emissions by an average for 5% by the period 2008-12
wide variations on targets for individual counries
89
USMCA context:
how many members
collective GDP
name specific agreement
3 members
$30 trillion
no tariffs on dairy and other products
90
ASEAN:
how many members
collective GDP
aims?
10- taiwan, philippines, indonesia
$4 trillion
aim to accelerate social, cultural development and regional peace
