globalisation Flashcards
(24 cards)
What is the term for countries who skip through technology?
Leapfrogging
What mobile phone service operates in Kenya that allows people to send receive and store money?
M-Pesa
What is the role of the WTO?
Promotes free trade by encouraging countries to remove barriers to trade. Also resolves trading disputes between countries.
What are the 2 barriers to trade?
Tariffs and quotas
What is the role of the IMF?
Provides loans and financial advice to struggling economies.
What is the role of the world bank?
Provides loans And development aid to poorer countries.
How can governments use policy to promote economic liberalisation?(free market liberalisation)
Deregulation, reducing state control over economy. Privatisation, selling state owned businesses to private investors. Encourage business start ups, low tax rates and subsidies.
What are 2 trade blocs?
The EU and NAFTA
What is the role of governments in economic liberalisation.
To create investor-friendly environments (low taxes, relaxed regulations). Negotiate trade deals and join trade blocs. Reform policies to integrate into the global economy. Promote exports and attract foreign direct investment (FDI).
When was China’s Open Door Policy?
1978, introduced China to global trade and investment.
When did China join the WTO?
2001
What is offshoring?
manufacturing based in other countries.
What is outsourcing.
contracting another company to do the work.
3 points as to why TNCs drive globalisation:
Global supply chains, Cultural homogenisation, cultural hybridisation.
How have transport improvements increased globalisation?
Containerisation- 1960s- quick and cheap. Jet air craft after WW2- allows movement of people and goods. (cheap flights)
How much of the world’s solar panels does China produce?
90%
How many premature deaths does air pollution in China cause each year?
1.2million
Where have there been oil spills associated with the TNC shell?
Nigeria
How can rising wealth levels harm the environment?
consumerism, single use goods, more meat eating (methane)
How much does the poorest 60% of India own?
4.7%
Indias richest 10% own how much of the country’s wealth?
77%
The richest 1% in the world own…
More than the rest of the world combined.
Attempts of controlling globalisation
Protectionism, censorship.
How many fair trade producers are there?
1.9million
