7.4a Impacts of superpowers on global economy

what is the world like since the cold war has ended

dominated by free market capitalism

what views does china have

moved away from socialist and towards state capitalism

what is happening to cubas views

reform in communist allowing limited private ownership of business

what view does north korea have

closest system to pure communism

what are IGOs (inter governmental organisations) promoting

free market capitalism and free trade

what do IGOs (inter governmental organisations) uphold

treaties and international law

are IGOs (inter governmental organisations) regional or global organisations

both

what does the world bank give to developing countries

loans

what does the world bank promote

exports, trade and private businesses

what model is the world bank

free market model

what does the IMF (international monetary fund) promote

global economic security and stability

what does the IMF (international monetary fund) assist countries to

reform economies

what does the IMF (international monetary fund) do for TNCs

more open access to developing countries for tncs

what does the WEF (world economic forum) promote

globalistation and free trade

what organisation is the WEF (world economic forum)

non profit organisation

what does the WTO (world trade organisation) regulate

global trade

what does the WTO (world trade organisation) promote

open trade and reduce protectionism

what are examples of centrally planned economies

former ussr, china and cuba

how are prices controlled in centrally planned economies

by government which also controls the supply of goods and services

what does the government have ownership of in centrally planned economies

property and land

how are profits taken by in centrally planned economies

the government and used to provide public services such as health and education

how are businesses owned by in centrally planned economies

state owned and wages are determined centrally

what are examples of free market capitalism

usa, canada, japan, western europe

what profit right do free market capitalism have

the right to make a profit and accumulate unlimited wealth. services such as health and education can be bought privately

what business ownership is in free market capitalism

private ownership of businesses, wages based on supply of workers and skill level

what ownership of property is in free market capitalism

private ownership of property e.g. homes and possession

what buying and selling is in free market capitalism

the buying and selling of goods and services in a competitive free market with limited restrictions

what does world economic forum (WEF) lack

lack of outcomes

what is the world trade organisation (WTO) accused of

accused of favouring wealthy nations

what is the IMF case study

cote d’ivoire, west africa

what did imf not allow in cote d’ivoire, west africa

to receive aid until 2012 when its government agreed to set up commercial courts

what did the IMF in cote d’ivoire, west africa depend training and education investment on

on government creating more competition in banking sector

how much debt did IMF cancel in cote d’ivoire, west africa

$4.4bn debt

what did the UN ban in cote d’ivoire, west africa

diamond exports after country used them to finance civil war

what was achieved in 2011 for cote d’ivoire, west africa

minimum wage and investment in infrastructure allowing exports of cocoa again