Week 2: Globalisation (all readings/videos) Flashcards
Brief history of globalisation article
1
Q
- In what year did Alibaba announce its Silk Road Headquarters in Xi’an?
A) 2019
B) 2018
C) 2017
D) 2020
A
B
2
Q
- What significant historical route is associated with the beginning of globalization?
A) The Spice Route
B) The Silk Road
C) The Transatlantic Trade Route
D) The Maritime Silk Road
A
B
3
Q
- During which period did Islamic merchants significantly expand trade?
A) 1st-5th centuries AD
B) 7th-15th centuries
C) 15th-18th centuries
D) 19th century
A
B
4
Q
- What was a major consequence of the Age of Discovery?
A) Introduction of new luxury goods in Europe
B) Complete halt of all trade
C) The new establishment of European colonies and slave trade
D) Establishment of the Silk Road
A
C
5
Q
- Which country is highlighted as the primary effect of the first wave of globalization?
A) United States
B) China
C) Great Britain
D) France
A
C
6
Q
- What economic event occurred in 1914 that significantly affected globalization?
A) The end of World War II
B) The Great Depression
C) The Eve of World War I
D) The fall of the Berlin Wall
A
C
7
Q
- What institution was created to encourage international trade after the Cold War?
A) The International Monetary Fund (IMF)
B) The World Trade Organization (WTO)
C) The European Union (EU)
D) The United Nations (UN)
A
B
8
Q
- Which technology has been emphasized as a driving force in Globalization 4.0?
A) Steam engines
B) Refrigerated cargo ships
C) The internet
D) Trains
A
C
9
Q
- What is a significant challenge associated with Globalization 4.0 mentioned in the article?
A) Increased global trade
B) Cyberattacks and cross-border hacking
C) Rise of the middle class
D) Expansion of e-commerce
A
B
10
Q
- What did Xi Jinping propose regarding globalization in his Davos speech?
A) To reject globalization entirely
B) To promote a more inclusive globalization
C) To return to traditional trade methods
D) To isolate China from global trade
A
B) To promote a more inclusive globalization (promoted the Belt and Road)
11
Q
What is globalisation?
A
The action, process, or fact of making global; esp. (in later use) the process by which businesses or other organizations develop international influence or start operating on an international scale, widely considered to be at the expense of national identity.
12
Q
What is thought to be the earliest start or basis of globalization?
A
The Silk Road
13
Q
The Silk Road connected ____ to ____ via roads, offered trade with silk and spices to be trades for from Europeans
A
(China) , (Mediterranean) , (gold and weapons)
14
Q
After the collapse of Rome, _____ was seen as the centre of global trade (market for spices and silk)
A
(Venice)
15
Q
Globalization is not just economic globalization it is also…
A
political & cultural
16
Q
__________= large globalization boom (technology played a huge role in connecting the world together, eg. telephone, internet)
A
(Industrial revolution)
17
Q
What are some types of global cultural exchange as a result of globalization?
A
Language, Religion, disease
18
Q
What is a time period of rapid globalization?
A
1850 - before start of ww1
19
Q
The Silk Road is usually thought to have operated between the years…
a) 200CE and 1670.
b) 500 BCE and 1800s CE.
c) 130 BCE and 1400s CE
d) 1400 and 1900s CE
A
c) 130 BCE and 1400s CE
20
Q
Who introduced container shipping?
A) Alexander Graham Bell
B) Adam Smith
C) Alexander Hamilton
D) Malcolm Mclean
A
D
21
Q
When did the idea of shipping items over the sea first start?
A) 5th century AD
B) 2nd century BC
C) 3rd century BC
D) 1st century BC
A
C
22
Q
What were goods initially loaded in before the introduction of container shipping?
A) Wooden pallets
B) Metal boxes
C) Barrels, crates, and sacks
D) Plastic containers
A
C
23
Q
By the 1980s, what percentage of manufactured goods were containerized?
A) 50%
B) 70%
C) 80%
D) 90%
A
D
24
Q
In what year did Malcolm Mclean stack 58 metal boxes on a ship, marking a change in shipping methods?
A) 1960
B) 1956
C) 1970
D) 1945
A
B
25
What has been one criticism of the shipping industry by governments and environmentalists?
A) Overfishing in the seas
B) High shipping costs
C) Responsible for a quarter of the world's nitrogen oxide pollution
D) Inefficient transport of goods
C
26
How are shipping operators responding to environmental concerns?
A) Increasing the number of ships
B) Adopting cleaner fuels like natural gas
C) Reducing the size of ships
D) Transporting goods by air
B
27
What is the most recent growth area in the shipping industry?
A) Luxury goods shipping
B) Digital products shipping
C) Refrigerated shipping for fresh produce, food, and flowers
D) Shipping construction materials
C
28
Where will the first "Tesla of the seas" operate later this year?
A) South China Sea
B) Mediterranean Sea
C) Norwegian shore
D) Atlantic Ocean
C
29
What purpose will the "Tesla of the seas" serve?
A) Transporting oil
B) Moving fertilizer from a production site to an export port
C) Shipping electronics
D) Carrying passengers through populated areas
B
30
How many countries have signed onto the BRI or expressed an interest in doing so?
A) 147
B) 198
C) 23
D) 127
A) 147
31
How much expenses is the Belt Road Initiative expected to incur?
A) 8 billion
B) 8 trillion
C) 800 million
D) 10 trillion
B) 8 trillion
32
What does China view the BRI project as?
A) A poisoned chalice
B) A commercial endeavour
C) A more assertive China
D) A cold war with the United States
B) A commercial endeavour
33
What did Joe Biden launch in order to compete against the BRI?
A) The Silk Road
B) The BUILD act
C) The U.S. Agency for International Development
D) The Build Back Better World Initiative
D) The Build Back Better World Initiative
34
What did President Emmanuel Macron suggest about the BRI?
A) It could control the global economy
B) It could make China the centre of the global economy, rather than the United States
C) It could turn partner countries into vassal states
D) He suggested the global gateway program to rival BRI
C) It could turn partner countries into vassal states
35
Why was the Build Back Better Initiative not considered a serious challenger to the BRI?
A) The lack of funding
B) The lack of support from countries with leading economies
C) The diplomatic issues with Russia
D) The lack of infrastructure.
A) The lack of funding
36
In Malaysia, what two things did former Prime Minister Mahathir bin Mohamad do to criticise the BRI? (Select 2)
A) Supported the Build Back Better World Initiative, investing more than a billion in it.
B) Sanctioned China on all imports
C) Campaigned against the BRI
D) Cancelled 22 billion dollars worth of BRI projects
C) Campaigned against the BRI
D) Cancelled 22 billion dollars worth of BRI projects
37
What is now the primary driver of global integration?
a) Manufactured goods
b) Resources and capital
c) Knowledge, intellectual property, services, and talent
d) Military power
c) Knowledge, intellectual property, services, and talent
38
By how much did trade in services, intellectual property, and education grow compared to trade in goods between 2010 and 2019?
a) Half as fast
b) Twice as fast
c) Three times as fast
d) The same rate
b) Twice as fast
39
What is the annual growth rate of cross-border data flows?
a) 15%
b) 30%
c) 45%
d) 60%
c) 45%
40
In which industry are 40% of high-skill researchers in the U.S. foreign-born?
a) Pharmaceuticals
b) Automotive
c) Semiconductors
d) Aerospace
c) Semiconductors
41
What is the main role of multinational corporations in global trade?
a) They create new local jobs
b) They help reduce trade
c) They dominate knowledge-based industries
d) They mostly sell food and drinks
c) They dominate knowledge-based industries
42
Which industry uses decentralized data from leading pharmaceutical companies to predict molecule behavior in drug discovery?
a) BioPharmaNet
b) MELLODDY
c) PharmaDataX
d) IntelliPharma
b) MELLODDY
43
Which factor is NOT listed as a primary aspect of the evolving global integration?
a) Knowledge
b) Intellectual property
c) Trade in manufactured goods
d) Services
c) Trade in manufactured goods
44
What is one benefit of investing in intangible assets for multinational corporations?
a) Higher taxes
b) Larger economies of scale
c) More reliance on manufacturing
d) Increased dependence on local talent
b) Larger economies of scale
45
Which of the following was identified as a key driver of growth for companies facing geopolitical uncertainty?
a) Investment in physical goods
b) Focus on regional trade
c) Investment in intangibles
d) Reduction in services trade
c) Investment in intangibles
46
What type of trade barriers are much higher for services compared to goods?
a) Tariffs
b) Non-tariff barriers
c) Digital regulations
d) Geopolitical restrictions
b) Non-tariff barriers
47
What is driving the shift to global integration?
a) Greater manufacturing output
b) Increased cross-border cooperation in R&D
c) A return to local production
d) Stronger national policies
b) Increased cross-border cooperation in R&D (Research and Development)
48
What is MELLODDY?
a) A biotech company
b) A pharmaceutical research partnership
c) A public-private partnership for drug discovery
d) An artificial intelligence startup
c) A public-private partnership for drug discovery
49
Which historical period is identified with the rise of European colonization?
A) The Age of Enlightenment
B) The Renaissance
C) The Industrial Revolution
D) The Age of Discovery
D) The Age of Discovery
50
How is Globalization 4.0 primarily different from previous eras?
A) It emphasizes physical trade routes
B) It involves digital transformation and automation
C) It focuses on agricultural advances
D) It is driven by climate policies
B) It involves digital transformation and automation
51
Which ancient trade route is considered the earliest form of globalization?
A) Trans-Saharan Route
B) Silk Road
C) Viking Trade Network
D) Byzantine Spice Route
B) Silk Road
52
What was the main factor driving the first wave of globalization in the 19th century?
A) Industrialization and steam power
B) Agricultural expansion
C) Maritime exploration
D) Global internet connections
A) Industrialization and steam power
53
What critical global event caused a significant setback to globalization after 1914?
A) The Great Recession
B) The Spanish Flu
C) World War I
D) The Cold War
C) World War I
54
What has been one of the key contributors to Globalization 4.0?
A) Enhanced railway networks
B) Reformation of global trade agreements
C) Establishment of international shipping lanes
D) Digital platforms like e-commerce
D) Digital platforms like e-commerce
55
17. What is one key challenge associated with Globalization 4.0?
A) Rising cyber threats
B ) Rapid urbanization
C) A decline in technological innovation
D) Trade monopolies
A) Rising cyber threats
56
18. What was a primary effect of the end of the Cold War on globalization?
A) Deregulation of markets globally
B) Introduction of global supply chains
C) The rise of protectionist policies
D) The creation of new trading blocks
B) Introduction of global supply chains
57
Since its conception, the BRI project has expanded to all of the following regions EXCEPT…
a) Oceania
b) North America
c) Latin America
d) Africa
North America
58
What is a modern-day effect of the Silk Road’s downfall?
a) Russia's economy collapsed due to the end of Silk Road trade, causing widespread poverty across the region.
b) Central Asian countries are economically isolated from each other, with little intra-regional trade.
c) The rise of global air transport led to complete abandonment of land-based trade routes in Central Asia.
d) Central Asia has become a major hub for global e-commerce due to its strategic location between Europe and Asia.
b) Central Asian countries are economically isolated from each other, with little intra-regional trade.
59
To accommodate expanding maritime trade traffic, where will China allocate port development investment?
a) along the Indian Ocean
b) along India’s coast
c) along the Pacific Ocean
d) along Russia’s Arctic coast
a) along the Indian Ocean
60
What percentage of the global GDP is represented by the countries that have signed on to or shown interest in China’s Belt and Road Initiative?
a) 25%
b) 30%
c) 35%
d) 40%
d) 40%
61
What does the CPEC stand for?
a) China-Pakistan Economic Cooperation
b) China-Pacific Economic Cooperation
c) China-Pakistan Economic Corridor
d) China-Philippines Economic Corridor
c) China-Pakistan Economic Corridor
62
How much is the CPEC estimated to cost?
a) $62B
b) $66B
c) $220B
d) $620B
a) $62B
63
What is the “middle-income trap” that China hopes to avoid?
a) A country fails to increase wages after reaching middle-income status.
b) A country’s wages and quality of life increase from low-skill production but fails to produce high-value goods.
c) A country's economy collapses after reaching high-income status.
d) A country’s quality of life decreases after reaching middle-income status.
b) A country’s wages and quality of life increase from low-skill production but fails to produce high-value goods.
64
What has constituted nearly half of all BRI’s spending activities that may aggravate climate change effects?
a) Agricultural investment
b) Deforestation investment
c) Infrastructure investment
d) Nonrenewable energy investment
d) Nonrenewable energy investment
65
What could be one possible silver lining for the U.S. in relation to the Belt and Road Initiative (BRI)?
a) The U.S. could collaborate with China on sustainable energy initiatives through the BRI.
b) The U.S. could enhance its influence in Asia by proposing alternative infrastructure projects.
c) The U.S. could use China's funding for BRI projects that align with its own interests in Central Asia.
d) The U.S. could leverage BRI projects to strengthen alliances with Central Asian countries.
c) The U.S. could use China's funding for BRI projects that align with its own interests in Central Asia.
66
Which 2 of the following regions have expressed concerns about the Belt and Road Initiative?
a) Southeast Asia
b) India
c) Japan
d) Europe
b) India and c) Japan
67
Which 2 of the following regions are generally supportive of the New Silk Road?
a) Russia
b) India
c) France
d) European Union
a) Russia and d) European Union
68
Which innovation primarily drove the first wave of globalization?
a) Airplane
b) Steam engine
c) Digital revolution
d) Assembly Line
B
69
What was the third wave of globalization driven by?
a) Digital revolution
b) Mass production
c) Electricity
d) Water power
A
70
According to Gita Gopinath, what is needed to ensure the next wave of globalization is successful?
a) Increased international competition
b) Elimination of trade tariffs
c) Good domestic policies to help those left out
d) Higher investments in technology
C
71
What is one of the primary effects of globalization on markets?
a) Increased prices and reduced trade
b) Decreased competition in domestic markets
c) Increased trade and lower prices
d) Reduced competition between countries adopting different trade strategies
C
72
What are the advantages of globalization?
a) Decreased productivity and higher prices
b) Raised output, increased productivity, job creation, higher wages, and lower prices
c) Fewer jobs and lower wages
d) Reduced economic output and limited technological improvement
B
73
What is a significant benefit of international trade that affects people's daily lives?
a) Increased wages for workers
b) Lower prices of everyday goods
c) More competition in domestic labour markets
d) Fewer imports of goods
B
74
Who are the biggest losers in international trade?
a) High-skilled workers in developing economies
b) Low-skilled workers in capital-intensive industries
c) Workers in industries with cheaper competitors abroad
d) Consumers who rely on imported goods
C
75
How many countries have signed on or expressed an interest in doing so?
a) 147
b) 198
c) 23
d) 127
A
76
How much expenses is the Belt Road Initiative expected to incur?
a) 8 billion
b) 8 trillion
c) 800 million
d) 10 trillion
B
77
What does China view the BRI project as?
a) A poisoned chalice
b) A commercial endeavour
c) A more assertive China
d) A cold war with the United States
B
78
What did Joe Biden launch in order to compete against the BRI?
a) The Silk Road
b) The BUILD act
c) The U.S. Agency for International Development
d) The Build Back Better World Initiative
D
79
What did President Emmanuel Macron suggest about the BRI?
a) It could control the global economy
b) It could make China the centre of the global economy, rather than the United States
c) It could turn partner countries into vassal states
d) He suggested the global gateway program to rival BRI
C
80
Why was the Build Back Better Initiative not considered a serious challenger to the BRI?
a) The lack of funding
b) The lack of support from countries with leading economies
c) The diplomatic issues with Russia
d) The lack of infrastructure.
A
81
In Malaysia, what two things did former Prime Minister Mahathir bin Mohamad do to criticise the BRI? (Select 2)
a) Supported the Build Back Better World Initiative, investing more than a billion in it.
b) Sanctioned China on all imports
c) Campaigned against the BRI
d) Cancelled 22 billion dollars worth of BRI projects
C and D
82
What is the “middle-income trap” that China hopes to avoid?
a)A country fails to increase wages after reaching middle-income status.
b)A country’s wages and quality of life increase from low-skill production but fails to produce high-value goods.
c)A country's economy collapses after reaching high-income status.
d)A country’s quality of life decreases after reaching middle-income status.
b
83
What has constituted nearly half of all BRI’s spending activities that may aggravate climate change effects?
a)Agricultural investment
b)Deforestation investment
c)Infrastructure investment
d)Nonrenewable energy investment
d
84
What could be one possible silver lining for the U.S. in relation to the Belt and Road Initiative (BRI)?
a)The U.S. could collaborate with China on sustainable energy initiatives through the BRI.
b)The U.S. could enhance its influence in Asia by proposing alternative infrastructure projects.
c)The U.S. could use China's funding for BRI projects that align with its own interests in Central Asia.
d)The U.S. could leverage BRI projects to strengthen alliances with Central Asian countries.
c
85
Which 2 of the following regions have expressed concerns about the Belt and Road Initiative?
a)Southeast Asia
b)India
c)Japan
d)Europe
B+C
86
Which 2 of the following regions are generally supportive of the New Silk Road?
a)Russia
b)India
c)France
d)European Union
a + d
