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A. New World Order > Globalisation > Flashcards

Globalisation Flashcards

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1
Q

How has the term globalisation become popular over the last 20 years

A

As a way to describe the way the world was at the end of the 20th century and the beginning of the 21st century.

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2
Q

What does globalisation usually refer to

A

The technological, political and economic changes, which have resulted in the world functioning in a different way

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3
Q

How is globalisation usually defined

A

The system of interaction among the countries of the world in order to develop the global economy

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4
Q

What is a unipolar order

A

It defines the world order after the end of the cold war. The Soviet Union had collapsed and only one superpower remained; the USA

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5
Q

What is negative integration

A

Breaking down of trade/ protective barriers (tariffs and quotas)

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6
Q

Positive integration

A

Aims at standardizing international economic laws and policies.

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7
Q

What happened with the superpowers as the world entered the 1990s

A

Russia became more accepted in the international community. USA still remained the sole superpower and thus leader of international affairs

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8
Q

What is an example of how Russia evade more accepted into the international community

A

Russian President Boris Yeltsin made trips to attend the G7 meetings held by key world leaders to discuss trade and commerce

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9
Q

What places have successfully adapted to globalization

A 
USA
Western Europe
Japan
Chine
 (northern hemisphere)
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10
Q

What happened to the paces that adapted to globalisation

A

They are now the leaders of the globalised world

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11
Q

What gave the Western Hemisphere a significant advantage

A

Historical status as colonial powers and industrialised powers

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12
Q

What did countries in the Southern Hemisphere face as a result of globalisation

A

Many were former colonies and they faced challenges such as poverty and underdevelopment. As a result of them being colonies, they were not in a place to benefit from globalisation.

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13
Q

What does globalisation mean for governments

A

That they can no longer run their countries in isolation from the rest of the world. Governments must be aware if international trends and policies

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14
Q

Which bodies do influence the policies and choices that nations governments make

A 
UNO
The Commonwealth 
EU
The International Labour Organisation 
The World Bank 
IMF
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15
Q

What does UNO stand for

A

United Nations Organisation

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16
Q

What does EU stand for

A

European Union

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17
Q

What does IMF stand for

A

International Monetary Fund

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18
Q

What was the point of the new world order

A

To replace the policy of containment with superpower cooperation

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19
Q

Who came up with the phrase ‘new world order’ and why

A

Mikhail Gorbachev and George W. Bush came up with it Tito try and define the nature of the post Cold War era

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20
Q

What was the new world order supposed to be based on

A

Principles of original liberty, self determination, and non-intervention. It would lead to an end to sponsoring military conflicts in third world countries, restrictions on global arms sales and greater engagement in the Middle East

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21
Q

What was the reality of the new world order

A

That the USA emerged as the greatest power in a multipolar world.

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22
Q

What factors resulted to the USA taking on a role of leadership in the post Cold War era

A

WW1- late entry tipped the scales in favour of the allied powers
WW2- confirmed that USA was an indispensable leader when it brought about the defeat of the Nazis

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23
Q

What cemented the USAs involvement in world affairs

A

The Cold War. The Truman doctrine and marshal plan were evidence of this

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24
Q

What do people who are critical of the USA’s dominant world position do

A

Criticise the hypocrisy of the USA’s foreign policies and intervention in conflicts such as that in the Middle East. They believe that the USA’s governments arrogant and is disrespectful of international law and the authority of the UNO and other multi-lateral agencies

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25
What type of a leader is he USA
One who has the strength and resources to pursue their own interested to but also a responsibility to use its power in pursuit of common good. It also has an obligation to lead and be involved in world affairs.
26
Why did the USA accept the burden of global leadership
It has an important investment in the development fo he international economy. It has an interest in developing environmental activities worldwide Wants to see and end to ethnic conflicts Wants to promote democracy and general order and stability
27
Why do critics thing the USA took the role of global leadership
So that they could put their own interests first
28
Where did the Breton woods conference take place
In a mountain resort in New Hampshire called Breton woods
29
Which counties met at Bretton woods
Delegates from 44 allied nations
30
Why did the allied nations meet at bretton woods
For the United Nations monetary and finance conference
31
What was the aim of the Bretton Woods conference
To rebuild the international economic system in the post WW2 era
32
What was set up during the conference
A system of rules, institutions and procedures to regulate the international monetary system
33
Why were the IMF and World Bank set up
To alleviate the problems restricting international financial growth and to restore international trade
34
What did the IMF aim to do
Create a pool of currencies, contributed to by member states, which any member country could draw upon in order to correct and balance of payment problems. To use the US Ella an the universal standard (could be converted to gold at a fixed price)
35
What is another name for the World Bank
The international Bank for Reconstruction and Development
36
When were the IMF and World Bank officially established
December 1945
37
What was the original purpose of the world bank
To grant loans to rebuild Europe after WW2
38
With what did the IMF and World Bank work in conjunction
The marshal plan for redevelopment and economic stabilisation of Europe
39
How many members does the IMF have today
179
40
what is design on-making power in the IMF based on
A system of evaluating a member nation’s quota
41
What is the quota related to
National income Monetary reserves Trade balance Other economic indicators
42
Why is the quota important
It decides voting power and how much money that nation must contribute to the fund
43
Which nation has the largest quota
The USA
44
What are the next few nations with large quotas
Germany Japan France UK
45
What do critics believe about the quota system
That developing nations are disadvantages
46
Purpose of IMF ( aims, promotes, assists )
Aims to facilitate the expansion and balanced growth of international trade. Promotes: - High levels of employment - Real income - Development of productive resources - Exchange stability- maintain orderly exchange arrangements/ avoid competitive exchange depreciation. Assists establishment of a multilateral system of payments and elimination of foreign exchange restrictions
47
What helped make globalisation possible
The new advances in technology known as the Information Age
48
What are some of the characteristics of the current economic era
- Move away from the production of physical goods towards importance of information. - Advances in IT (changed lifestyles, given rise to new industries) - Dependance of computer based information (decreasing costs) - Ability to communicate world-wide
49
Consequences of the Information Age
- Old skills not needed; increase in unemployment, people seeking jobs do not have technological skills - Changes required in education and infrastructure and way people interact with each other - Countries that do not have access to new technology fall behind (digital divide) - IT revolution used as revolution tool (Arib Springs)
50
What was Arib Springs
Pro-democracy protesters (north Africa and Middle East) rose up against dictatorial leaders in their countries using social media
51
What do critics of globalisation believe
- Multinational organisations are too powerful and dominate world affairs - Globalisation is exploitative: multi-nationals make use of cheep labour and labourers do not share profits generated by labour - Indigenous cultures suffer: swamped by global/ universal culture - Multi-national organisations have gained access to developing countries and they exploit the natural resources .˙. Degradation of environment - Globalisation caused global warming/ climate change
52
Which three organisations were formed in response to the negative impacts of globalisation
Greenpeace World Wild Life Fund Human Rights Watch
53
Simply put, what is Greenpeace
A worldwide non-profit organisation
54
What is Greenpeace’s goal
To save the Earth’s natural resources to conserve existing biological balance and allow healthier lifestyle for all
55
What is the role of Greenpeace
- Exposes and maintains non-violent struggles against environmental hazards (deforestation, toxic pollution) - Acts to prevent atmospheric pollution - Draws attention to issue of toxic materials/ waste polluting the soil and seas; nuclear threat; and high seas whaling - it has turned its attention to trawling and genetic engineering and promotes worldwide peace and tolerance
56
Where is Greeenpeace active
In many countries worldwide and has volunteers in America, North Africa, Australia, Europe and Mediterranean
57
How does Greenpeace influence other institutions
They influence them politically and socially to make necessary changes to save the environment. They have a staff of scientists, political lobbyists and economists that work closely with governments and industries.
58
How does Greenpeace make sure it is hear worldwide
They have a developed media system that distributed photographs and vital information
59
How are BRICS countries distinguished from other countries
By their demographic and economic potential to rank among the world’s largest and most influential economies
60
What does BRICS stand for
``` Brazil Russia India China South Africa ```
61
What other group of countries represent emerging market
The N-11
62
What do the N-11 do
Dominate important commodity markets and are industrialising faster than any developed countries
63
What was one of the main tasks of the IMF
It provided short term loans (1-3 years)
64
What was one condition which the loans had
That SAPs are used
65
What are SAPs
Structural adjustment programmes
66
What are SAPs designed to do
Correct deficit
67
What measures are involved in SAPs
- Abolishing/liberating foreign exchange and import control - Reducing growth in domestic money supply - Abolishing food, fuel and transportation subsidies - Cutting government wages and seeking wage restraint from labour unions - Dismantling price control - Privatising publicly owned firms - Reducing restrictions on foreign investment - Depreciating the currency
68
Why do people criticise the IMF
- They believe the IMF is deepening the divide between rich and poor countries - It is unfair for the IMF to lend money with ‘strings attached’ (monitored economic reform) - SAPs makes it difficult for countries to fund educational and health systems
69
What is the world bank
A specialised agency of the UN
70
What was the world bank originally created to do
Aid in the reconstruction of Europe after WW2
71
How many countries are members of the World Bank
177
72
Who can be considered for membership of the World Bank
Only members of the IMF
73
What is the World Bank’s current purpose
To assist economic development of nations
74
What are the goals of the World Bank
- Reduce poverty in developing countries - Protect the environment - Promote the private sector and human resource development
75
Who does the World Bank work closely with
The IMF
76
What is the difference in the loans provided by the IMF and the World Bank
The IMF provides short term loans (1-3 years) | The World Bank provides long term loans (15 years)
77
What the loans from the Wold Bank given for
Usually to finance projects that are likely to be profitable but also to support changes in the economic system
78
What are the elements in the World Bank’s programmes for alleviating poverty
- Compilation of country-specific assessments - Formulation of country-specific strategies which ensure that the projects support and complement the programmes of the country
79
What do critics of the World Bank believe
- That ‘aid is imperialism’ meaning that rich countries control poor ones through direct/indirect funding - Foreign aid has been exploited by rich; disadvantaging poor - Foreign aid gets in the way of the market force that will help rectify poverty - World Bank working with private sector undermines the role of the state as the primary provider of essential goods and services (healthcare/education) resulting in inadequate services in countries that really need them - Projects financed by World Bank have social/ environmental implication (questionable ethics of funding those kinds of projects)
80
What does WTO stand for
World Trade Organisation
81
What is the WTO
An international organisation
82
What is the WTO main purpose
To open trade for the benefit of all nations
83
How many members does the WTO have
157 (177 developing countries)
84
Why was the WTO founded
To provide a foundation of a multilateral trading system
85
What does the WTO provide and ensure
It provides a forum for negotiating agreements aimed at reducing obstacles to international trade. It ensures a level playing field for all, contributing to economic growth and development
86
What two agreements does the WTO have
Multilateral and plurilateral agreements
87
How does the WTO implement and monitor the agreements
A legal framework
88
What else does the WTO use its legal framework fir
To settle disputes that arise from interpretation and application. It as helped create a strong prosperous international trading system
89
Who supports WTO activities
A secretariat of 70 staff
90
Where is the WTO’s secretariat
In Geneva
91
What are th official languages of the WTO
French English Spanish
92
What does the WTO have that ensures a balance between supply an demand and maximises profits
A monopoly on which countries produce specific goods for sale to particular markets

A. New World Order (1 decks)

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