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Geography AWI/FHA > Global systems and Governance > Flashcards

Global systems and Governance Flashcards

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1
Q

What is foreign direct investment?

A

Money spent in another country in order to generate a profit?

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2
Q

What is a single product economy?

A

A country usually the LIC which relies on one or a small number of products for export earnings

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3
Q

What is primary product dependency?

A

Heavy dependence measured as a share of GDP, total exports or employments from the extraction of primary commodities

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4
Q

Give three negative impacts of free trade.

A

Over specialisation
Decline of local industries
Deskilling

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5
Q

Give one way the WTO promotes inequality

A

Slow decision making

Disadvantage developing countries and their industries

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6
Q

Give three examples of barriers to trade.

A

Quotas
Subsidies
Import Licensing

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7
Q

What is the G7?

A

Group of 7- United States, Canada, France, Japan, Italy, UK, Germany

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8
Q

What are the disadvantages to Fairtrade?

A

Relies on ethical investment
Discourages diversification
Fairtrade recipients usually are high income farmers
Too small for large impact

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9
Q

What is protectionism?

A

Represents any attempts by the Government to impose restrictions on trade in goods and services between countries

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10
Q

What is a tariff?

A

Tax on imports

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11
Q

What is import licensing?

A

License from national Government to import from a certain country or product

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12
Q

What is a Quota?

A

Physical limit of a quantity of goods allowed in

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13
Q

What are Subsidies?

A

Grants given to domestic producers to make them more competitive by reducing prices

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14
Q

What is the WTO and what do they do?

A

World Trade Organisation who deal with rules of trade

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15
Q

What are some weaknesses of the WTO?

A

Very slow at making decisions

Unbalanced against developing countries

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16
Q

Outline patterns of global banana trade

A

LIC –> HIC

LIC’s along the Equator

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17
Q

Give three issues with special and differential treatment

A

Non Reciprocal
Unbalanced
Raw materials don’t develop secondary industry

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18
Q

What is Global Governance?

A

Governance on a global scale to solve global issues

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19
Q

How have changes in patterns of production promoted globalisation?

A

Industry moves to lower cost areas

Oerspecialisation

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20
Q

Give three ways trends in international trade have changed since the 1980’s

A

More trade in Trans-pacific (8 times more)

Trans-atlantic is increasing at a decreasing rate

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21
Q

What is the role of the world bank?

A

Provide loans to developing countries

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22
Q

What are the two types of decisions the world bank make?

A

Top down decision- From Government and the locals get little to no say in it

Bottom up- when local people are consulted and supported to undertake projects for specific needs

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23
Q

What is a trade agreement?

A

An agreement between two or more countries that agree on terms of trade

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24
Q

What is a customs union?

A

Remove tariffs between members

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25
What is an economic union?
Common markets that share currency- EG Europe mainly
26
What are some positives to Trade Blocs?
Economic growth Domestic industries profit More political power Filter volatile prices through the bloc
27
What are negatives to Trade Blocs?
Trade diversion ( can't trade with countries outside bloc as it tends to be more expensive) Expensive to be a member of Trade disputes
28
Explain the concept of the global commons
A place of common or shared resources that isn't owned by a country and is a common heritage of mankind
29
What are the four global commons?
Outer Space Antarctica The Atmosphere High Seas
30
Define globalisation
The widening, deepening and speeding up of global interconnectedness
31
Give an example of economic globalisation
Flow of money between the trade blocs EU and NAFTA
32
Give an example of social globalisation
Advertising MNC's on social media
33
Define 'Glocalisation'
A combination of globalisation and localisation, describing products or services that are developed globally but adjusted to suit local needs/cultures
34
What is the core periphery model?
A dominant core of the Earth where other smaller countries benefit off
35
What does the IMF do?
Oversee global growth
36
What is an SEZ?
Special Economic Zone
37
Explain the nature and direction of capital flows
Aid Hic --> LIC Foreign Direct Investment HIC --> LIC/NIC Remittances LIC --> HIC
38
Global shift
Manufacturing moving to lower wage economies
39
How has changing technology promoted globalisation?
Containerisation Communication Online only retailers increasing
40
Give an argument for and against the importance of changing technology in promoting globalisation
For: It allows an increase in global interconnectedness Against: Fire walls, Based on income with the amount of globalisation that can grow
41
Define outsourcing and 3 impacts of it
Outsourcing- Placing production in a different country with lower wages and restrictions - Monopolise more as a company as you can produce in multiple countries - deindustrialisation - Cheaper labour
42
How have unequal flows of labour created inequality?
- Brain drain | - Some areas like SEZs are more densely populated than others
43
How have unequal flows of capital created inequality?
Money earned is being spent in a different country | Remittances
44
Why do HIC's dominate world trade?
- High value products | - High market volume within trade bloc
45
Give 2 economic and 2 social impacts of poor market access
``` Economic: - Overspecialise on raw materials - Can't develop secondary industry Social: - Limited skills for workers as they only work in primary sector - Little development in healthcare ```
46
# Define the following Keywords: - Race to the bottom - Comparative advantage - Special economic zone
Compete to work for TNCs by becoming cheaper than others Being able to produce cheaper at a lower opportunity cost than others Tax breaks, area of less government control E.G Canary Wharf
47
Primary product dependency:
Reliance on primary products being main source of income for the country
48
Give three problems caused by Primary Product dependancy
- Product doesn't increase in value really - Prices fluctuate - Finite
49
Give 4 ways world trade patterns have changed since the 1980s
1. Since 1993 trans pacific trade increased more than transatlantic trade 2. 8x increase in trade 3. Trade hasn't increased much for African countries 2% --> 3% from 1995-2010 4. TNCs dominate
50
Give three ways that world investment has changed since the 1980s
Increased 1996 $400 billion Increased HIC --> NIC/LIC Increased NIC--> LIC
51
Define Free Trade
No barriers to trade
52
Give 2 positives and negatives of free trade
1. No domestic monopolies 2. Economic growth Negatives 1. Infant industries can't benefit 2. Over specialisation
53
Define Fair trade
Percentage of the product price goes back to the farmer who produced the product. Environment regulations on them. Premium on price pays for education or healthcare
54
Give 1 positive and 1 negative of fair trade
Positive: Minimum price they get paid Negative: Usually the farmer that gets this money are one of the more richer farmers so it isn't helping the more needier ones.
55
Define import quotas
A limit on how much of a product is brought into a country
56
What is the WTO and what does it do?
WTO oversees global trade
57
2 positives and 2 negatives of the WTO
``` Positives: 1. Promotes free trade 2. Rules on subsidies Negatives: 1. Race to bottom 2. Prevents developing countries developing industry ```
58
What are trade blocs?
Agreements where trade barriers are reduced
59
Give 2 positives and 2 negatives of trade blocs
Positives: 1. Cheaper trade within bloc 2. Economic growth to membering countries Negatives 1. Can't trade with outside countries as easily 2. Trade wars (USA Vs EU)
60
What is the IMF? Give 2 +'s and 2-'s
``` It monitors the global economy + Offers trade advice + Provides loans - Conditional loans (pressuring) - Voting share depends on the capital input from a country ```
61
What is the world bank? 2+'s and 2-'s
Loans to developing countries for development + Reduces Poverty + Long term loan, no interest - Usually top-down projects with very little say about it in their own country - Usually local environments aren't factored into the decisions
62
``` Who is involved in each of the following trade blocs? NAFTA EU TTIP TPP APEC CARICOM ```
``` North American Free Trade Agreement European Union Transatlantic trade investment partnership Trans Pacific partnership Asia Pacific Economic Community Caribbean Community and Common Market ```
63
Give 2 Positives and 2 Negatives of a trade bloc (EU)
+ 80% of trade is within the EU + 20% renewable environmental aims in 2007 - Rarely trade outside the bloc - Trade wars with USA
64
Give three positives of special and differential treatment
Gives help to developing countries in terms of development | Growth
65
Give 3 examples of international organisations involved in global governance
UNESCO UN WTO
66
What is the Paris Agreement? +'s -'s
``` Agreement to slow down carbon emissions + Inclusive (180 countries involved) + Control Climate change - No reinforcement - Even if the pledges were followed the earth would still be 3.5 degrees warmer ```
67
Give four ways TNCs form links between countries
Retailing all around the world Mergers Acquisition Spatial organisation
68
Define 'common heritage of mankind' and 'tragedy of the commons'
Shared peace for everyone, no one person owns the common People all trying to take resources before others do. Placing their needs before others
69
Define the following: NGO Advocacy NGO Operational NGO
Non Governmental Organisation Raising awareness of an issue Physically going to make a change
70
2 +'s and -'s of the UN
+193 members +Successes in Cyprus and Syria - Failure in Yugoslavia and Rwanda - Veto Power for security council is dependant on money put in by a country
71
``` Name an international treaty that protects each of the following global commons: High Seas Outer Space Antarctica Atmosphere ```
High seas- UNCLOS Antarctica- ATS Space- Moon Treaty Atmosphere- Paris Agreement UNFCCC
72
Give three reasons globalisation poses a threat to the global common of the hig seas
Overfishing More pollution from transport Global Supply chain
73
Define the following keywords: Isostatic Depression Antarctic convergence Zone Antarctic circumpolar current
The land sinks as glaciers melt Where cold and warm water meet causes upwelling of nutrients for phytoplankton and krill to eat who are essential for food chains The Cold current that surrounds Antarctica
74
Describe the climate of Antarctica
Under 50mm Precipitation a year Katabatic winds flowing downhill from mountains Coldest between april and august -49 degrees
75
Give three ways tourism poses a threat to Antarctica (with examples)
Mount Erebus crash (aeroplane) Disturbs Colonies of birds MV explorer sank
76
What is Water Stress?
Where the demand for water exceeds the supply
77
What is the difference between physical and economic water scarcity? Give a definition and location where this happens
Physical Scarcity: More than 75% of river flow being used. North Africa and the Middle East Economic water scarcity: Human and financial factors limit water use to 25% Sub Saharan Africa, Southern Asia and South America
78
Give two benefits and two issues of resevoirs and dams
Benefits: • Stores water for later use • produces electricity Issues: • Flood area around dam/resevoir • Cost a lot to build
79
Give two physical factors affecting the location of resevoirs and dams
Long Narrow Valley Impermeable High rainfall Low evaporation
80
How have changes in technology contributed to globalisation?
- Internet - Satellite - Containerisation
81
What factors affect aquifers?
Permeable rock and underlying impermeable rock

Geography AWI/FHA (5 decks)

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