Flashcards
7.2 Global systems
Cards in this deck (8)
- 1The role of the IMF (Inter-Monetary Fund)The IMF oversees the global financial system
It offers financial and technical assistance
It offers loans as a last resort
It provides loans to stabilise the economies of countries
It draws its financial resources from a quota subscription of member countries - 2The World BankPromotes economic development in developing countries
It provides long-term investment loans for development projects with the aim of reducing poverty
Via the IDA (International Development Association) it provides special interest free loans to countries with very little income per capita
It creates money by borrowing on the international bond market - 3What are the aims of the WTO?To supervise and liberalise trade by reducing barriers
Sort out trade problems between member governments
Negotiate an agreement that can become law for international commerce
Provide stability by giving trading nations the confidence that there will be no sudden change of policy - 4Rounds of WTO talks1986-1994- Uruguay rounds- reduced barriers for industrial goods.
2001- The Doha Development Agenda focused on reforming trade in agricultural products.
2002- An agreement was reached in Geneva to end the banana dispute.
2013- Bali allowed for multilateral trade among all 159 members by speeding up the movement of trading goods and reducing the time for red tape. - 5Positive effects of labour movementReduced unemployment where there is a lack of work
Reduces geographical inequality between workers
Addresses important skill and labour shortages
Some workers return to their country of origin with new skills - 6Negative effects of labour movementCountries find it difficult to retain their best talent
Loss of skilled workers causes a training gap
Outsourcing of production from high-wage to low-wage economies cause unemployment
Greater risk of the spread of illnesses - 7Consequences of outsourcingLoss of jobs
De-industrialisation- The closure of manufacturing companies because of outsourcing leds to closure of
Structural unemployment- workers are no longer skilled for new types of jobs and have to be retrained. - 8—
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- A2 Geography Flashcards on 7.2 Global systems, created by Mathieu Graffin on 23/05/2018.
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- Mathieu Graffin
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