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Geography AWI/FHA > Global systems and Governance > Flashcards

Global systems and Governance Flashcards

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
Q

What is an economic union?

A

Common markets that share currency- EG Europe mainly

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26
Q

What are some positives to Trade Blocs?

A

Economic growth
Domestic industries profit
More political power
Filter volatile prices through the bloc

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27
Q

What are negatives to Trade Blocs?

A

Trade diversion ( can’t trade with countries outside bloc as it tends to be more expensive)
Expensive to be a member of
Trade disputes

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28
Q

Explain the concept of the global commons

A

A place of common or shared resources that isn’t owned by a country and is a common heritage of mankind

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29
Q

What are the four global commons?

A

Outer Space
Antarctica
The Atmosphere
High Seas

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30
Q

Define globalisation

A

The widening, deepening and speeding up of global interconnectedness

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31
Q

Give an example of economic globalisation

A

Flow of money between the trade blocs EU and NAFTA

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32
Q

Give an example of social globalisation

A

Advertising MNC’s on social media

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33
Q

Define ‘Glocalisation’

A

A combination of globalisation and localisation, describing products or services that are developed globally but adjusted to suit local needs/cultures

34
Q

What is the core periphery model?

A

A dominant core of the Earth where other smaller countries benefit off

35
Q

What does the IMF do?

A

Oversee global growth

36
Q

What is an SEZ?

A

Special Economic Zone

37
Q

Explain the nature and direction of capital flows

A

Aid Hic –> LIC
Foreign Direct Investment HIC –> LIC/NIC
Remittances LIC –> HIC

38
Q

Global shift

A

Manufacturing moving to lower wage economies

39
Q

How has changing technology promoted globalisation?

A

Containerisation
Communication
Online only retailers increasing

40
Q

Give an argument for and against the importance of changing technology in promoting globalisation

A

For: It allows an increase in global interconnectedness
Against: Fire walls, Based on income with the amount of globalisation that can grow

41
Q

Define outsourcing and 3 impacts of it

A

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
Q

How have unequal flows of labour created inequality?

A
  • Brain drain

- Some areas like SEZs are more densely populated than others

43
Q

How have unequal flows of capital created inequality?

A

Money earned is being spent in a different country

Remittances

44
Q

Why do HIC’s dominate world trade?

A
  • High value products

- High market volume within trade bloc

45
Q

Give 2 economic and 2 social impacts of poor market access

A 
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
Q

Define the following Keywords:

  • Race to the bottom
  • Comparative advantage
  • Special economic zone
A

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
Q

Primary product dependency:

A

Reliance on primary products being main source of income for the country

48
Q

Give three problems caused by Primary Product dependancy

A
  • Product doesn’t increase in value really
  • Prices fluctuate
  • Finite
49
Q

Give 4 ways world trade patterns have changed since the 1980s

A
  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
Q

Give three ways that world investment has changed since the 1980s

A

Increased 1996 $400 billion
Increased HIC –> NIC/LIC
Increased NIC–> LIC

51
Q

Define Free Trade

A

No barriers to trade

52
Q

Give 2 positives and negatives of free trade

A
  1. No domestic monopolies
  2. Economic growth
    Negatives
  3. Infant industries can’t benefit
  4. Over specialisation
53
Q

Define Fair trade

A

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
Q

Give 1 positive and 1 negative of fair trade

A

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
Q

Define import quotas

A

A limit on how much of a product is brought into a country

56
Q

What is the WTO and what does it do?

A

WTO oversees global trade

57
Q

2 positives and 2 negatives of the WTO

A 
Positives:
1. Promotes free trade
2. Rules on subsidies
Negatives:
1. Race to bottom
2. Prevents developing countries developing industry
58
Q

What are trade blocs?

A

Agreements where trade barriers are reduced

59
Q

Give 2 positives and 2 negatives of trade blocs

A

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
Q

What is the IMF? Give 2 +’s and 2-‘s

A 
It monitors the global economy
\+ Offers trade advice
\+ Provides loans
- Conditional loans (pressuring)
- Voting share depends on the capital input from a country
61
Q

What is the world bank? 2+’s and 2-‘s

A

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
Q 
Who is involved in each of the following trade blocs?
NAFTA
EU
TTIP
TPP
APEC
CARICOM
A 
North American Free Trade Agreement 
European Union
Transatlantic trade investment partnership
Trans Pacific partnership
Asia Pacific Economic Community
Caribbean Community and Common Market
63
Q

Give 2 Positives and 2 Negatives of a trade bloc (EU)

A

+ 80% of trade is within the EU
+ 20% renewable environmental aims in 2007
- Rarely trade outside the bloc
- Trade wars with USA

64
Q

Give three positives of special and differential treatment

A

Gives help to developing countries in terms of development

Growth

65
Q

Give 3 examples of international organisations involved in global governance

A

UNESCO
UN
WTO

66
Q

What is the Paris Agreement? +’s -‘s

A 
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
Q

Give four ways TNCs form links between countries

A

Retailing all around the world
Mergers
Acquisition
Spatial organisation

68
Q

Define ‘common heritage of mankind’ and ‘tragedy of the commons’

A

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
Q

Define the following:
NGO
Advocacy NGO
Operational NGO

A

Non Governmental Organisation
Raising awareness of an issue
Physically going to make a change

70
Q

2 +’s and -‘s of the UN

A

+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
Q 
Name an international treaty that protects each of the following global commons:
High Seas
Outer Space
Antarctica
Atmosphere
A

High seas- UNCLOS
Antarctica- ATS
Space- Moon Treaty
Atmosphere- Paris Agreement UNFCCC

72
Q

Give three reasons globalisation poses a threat to the global common of the hig seas

A

Overfishing
More pollution from transport
Global Supply chain

73
Q

Define the following keywords:
Isostatic Depression
Antarctic convergence Zone
Antarctic circumpolar current

A

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
Q

Describe the climate of Antarctica

A

Under 50mm Precipitation a year
Katabatic winds flowing downhill from mountains
Coldest between april and august -49 degrees

75
Q

Give three ways tourism poses a threat to Antarctica (with examples)

A

Mount Erebus crash (aeroplane)
Disturbs Colonies of birds
MV explorer sank

76
Q

What is Water Stress?

A

Where the demand for water exceeds the supply

77
Q

What is the difference between physical and economic water scarcity? Give a definition and location where this happens

A

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
Q

Give two benefits and two issues of resevoirs and dams

A

Benefits:
• Stores water for later use
• produces electricity

Issues:
• Flood area around dam/resevoir
• Cost a lot to build

79
Q

Give two physical factors affecting the location of resevoirs and dams

A

Long Narrow Valley
Impermeable
High rainfall
Low evaporation

80
Q

How have changes in technology contributed to globalisation?

A
  • Internet
  • Satellite
  • Containerisation
81
Q

What factors affect aquifers?

A

Permeable rock and underlying impermeable rock

Geography AWI/FHA (5 decks)

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