Globalisation & The Eu Flashcards
(13 cards)
Q1: What is the European Union and how does it relate to globalisation?
A1: The EU is a political and economic regional bloc of 27 member states. It enables the free movement of goods, services, people, and capital, creating one of the world’s largest single markets. It promotes and regulates globalisation through trade deals, common standards, and joint policy strategies.
Q2: Why is the EU considered a global economic power?
A2: The EU represents 15% of global trade, is the largest trading bloc, and generates 22% of global GDP despite having only 6% of the world’s population. It has major urban and industrial hubs, global firms like Airbus, and strong integration into global value chains.
Q3: What is the EU single market?
A3: It is the integrated internal market of the EU, allowing free movement of goods, services, capital, and labour across member states. It makes the EU more competitive globally and reinforces its role in globalisation.
Q4: How does the EU promote globalisation?
A4: Through:
• Signing over 70 trade agreements (e.g., Canada, Japan, Vietnam).
• Exporting EU regulations globally (e.g., data privacy via GDPR—“Brussels Effect”).
• Supporting global investment via TNCs and open markets.
Q5: How does the EU try to reduce internal inequalities caused by globalisation?
A5: Via the Cohesion Policy, which uses nearly ⅓ of the EU budget to invest in poorer regions. Examples:
• €20 billion to Ireland helped develop its infrastructure.
• Poland’s GDP per capita increased by +104% since 2004.
The CAP also supports rural areas and food security.
Q6: How successful is the EU in reducing inequality?
A6: Mixed results. While cross-country gaps have narrowed (e.g., Eastern Europe catching up), regional inequalities within countries persist (e.g., East vs West Germany, Northern vs Southern Italy). Critics also argue that Cohesion Policy often favours richer individuals within poor regions.
Q7: To what extent does the EU favour globalisation?
A7: Strongly favours it through liberalised trade, mobility, and integrated economic policy. However, it also regulates it through environmental standards and labour rights, creating a “regulated globalisation” model.
Q8: How does the EU differ from other global powers in its globalisation strategy?
A8: Unlike the US or China, the EU relies on soft power, regulation, and diplomacy. It uses trade agreements, aid, and standard-setting (e.g. GDPR) rather than military or aggressive industrial policy.
Q9: Is the EU a globalisation success story?
A9: Largely yes—especially in terms of economic power and integration. But regional and social inequalities, the failure of some CAP and Cohesion Policy targets, and political fragmentation (e.g., Brexit) challenge this narrative.
Definition
Globalisation refers to the increasing interconnectedness of countries through trade, investment, information, and migration. The EU is one of the world’s most advanced examples of a regional response to globalisation—acting as both a driver and a regulator of global flows.
Strengths
Single market, trade power, regulatory influence, regional aid.
Weaknesses
Uneven integration, policy flaws (CAP/Cohesion), political fragility.
Big Idea:
The EU is both a product of globalisation and an actor shaping it, with a unique model balancing openness and regulation.
