eqi2 Flashcards
(33 cards)
what is free trade?
a capitalist system of allowing exchanges of goods and services without taxes, tarrifs or quotas
what is terms of trade?
value of exports - value of imports
MEDCs have a good terms of trade - export high value goods and import low value goods
what are IGOs?
a regional or state organisation whose members are nation states. they uphold treaties and laws as well as allowing cooperation on issues such as trade, economic policy and military activity
what are examples of IGOs?
- WTO
- IMF
- HIPC
- EU
- WEF
what does the WTO do?
- tried making international trade fair by not allowing:
- taxes and tarrifs
- quotas
- subsidies
however, this does not stop dumping and anti dumping policies and MEDCs still keep high import duties on products from other countries
what does the IMF do?
gives loans if LEDCs will:
- increase exported primary goods
- operate free trade policy
- operate in a western manner
- cut domestic spending
what does the HIPC do?
HIPC = highly indebted poor countries is a debt reduction initiative but is only offered if:
- debt of 280% of gdp
- debt to export ratio of 150%
- completed IMF policies (SAP)
- domestic spending cuts
what does the EU do?
removing all trade barriers including taxes and tariffs
- this maintains patterns of powers within the blocs as LEDCs are only welcome if they have done certain things
what does the WEF do?
WEF - world economic forum is the top 1000 richest companies talking about:
- globalisation
- capital markets
- wealth management
- international confluct
but all the countries are based in MEDCs who will benefit
- maintains patterns of power
who would a nation go to if they were in trouble?
1) a trusted nation - this depends on political views, beliefs and structures
2) a nation with the ability to help by reaching the area
3) a nation who has the tech and money to help
how does america view themselves?
- protectors of democracy and peace
- world police
- moral authority
- leaders of free world
how do others view america?
- blind pursuit of foreign policy
- racist/xenophobic
- lack of respect for other countries
- ignorant to other cultures
what is an alternative world police than america?
the UN:
- set up by USA (reflects its values)
- perfect mechanism through which western values can be placed
- security council set up with 5 permanent members
how do security council members maintain international law?
- applying sanctions to those deemed a security risk
- authorising the use of military force against a country
- authorising a peacekeeping force
how did america police the haiti 2010 earthquake?
- US wanted to become closer to haiti because of historic links
- 7.0 mag destroyed 70% of buildings
- UN relief operation, US air force and coastguard, US marines
how did america police in the bosnian war?
- yugoslavia was a previous communist state that aligned with russia (US wants to control it)
- post cold war, yugoslavia breaks up and a mix of ethnic, religious and nationalist divisions leads to a war
- this led to US giving military, UN peacekeepers and UN resolution
who are the 4 key players in the future of world policing?
- military alliances
- economic allianes
- environmental alliances
- individual nations
why are alliances so important in world policing?
- creating interdependence between nations forces cooperation
- many of the terms would ensure peaceful relations
- most alliances will contain any political incident and deal with it internally
- most alliances have a form of punishment for rogue members
but they also increase isolationism
what are military alliances?
e.g. NATO however it may not be relevent
- threat of USSR is no more
- USA is the only superpower
- trump thinks it drains US funds
but is maintains US power across the world - it spreads soft power
where has NATO failed to be effective?
the decision to intervene in libya was hypocritcal (some believed it was because they saw an opportunity for oil)
- the power vacuum led to conflict
- the rise of ISIS
- ostracised russia even more
what are other examples of military alliances?
CSTO - helps to maintain russian military influence in surrounding states and making it difficult to attack the nations
SCO - does not include a mutual protection act but cooperation on:
- security
- military matters
- cultural and economic cooperation
are military alliances important in world policing?
yes - enforcing peasch and cooperation
but they also slow down proceedings in UN, can polarise nations and cause conflict based on political ideology and geopolitical ambitions
what are economic alliances?
e.g. the EU - maintains peace in europe
- it reduces inequality between members, reducing friction, helps tackle major issues, introduced bill of HR
is the EU effective in world policing?
- no defence force
- reliance on energy from the east means an economic agreement will do nothing to protect the union from expansionist russia
- unequal distribution of positive benefits
