INS

Coca Cola

Coca Cola

________ in El Salvador Concerns and Response Water depletion and contamination: uses large amount of water in production process.

Adam Smiths

________ theory of specialization→ Idea that countries should specialize in producing goods or services that they can produce most efficiently since it will increase productivity and therefore wealth creation.

Structural Adjustment programmes

________ and Unequal distribution of benefits SAPs are policies implemented by IMF and world back in 80s and 90s for developing countries experiencing economic crises Requires developing countries to implement economic reforms life reduced government spending, deregulation of markets and opening of economy for foreign investment in exchange for aid.

Cultural death

________ and MNCs: McDonalds Microsoft Monopoly Microsoft employs over 175, 000 people globally in over 100 countries for things like software development, marketing and customer service.

1970s

In the ________, the Singapore government recognized the potential of the electronics industry and launched the Electronics Industry Development Plan (EIDP)

Customs Unions

________: Members trade all goods and services tariff free and agree on common tariff rates on imports from all third party countries like the EU.

CUSMA

________: Mexico, Canada and the USA have a free trade agreement but can deal individually with Cuba as they see fit.

Nike

________ has also invested in initiative to create jobs and economic development in China and Indonesia → plan to train women in entrepreneurship and small business management in Indonesia.

Comprehensive approach→

Approach: ________ working with all stakeholders in the coffee value chain, including farmers, processors, exporters, and government agencies.

Quota

________: Physical limit on imports Subsidies Embargoes.

WTO

________ came into existence on 1st Jan 1995 to promote free trade and stimulate economic growth.

Tariffs

________: Tax on imported goods and services that raises the selling price of it within the country.

Iphones

________ are produced in this manner Research and development: Apple designers and engineers develop specifications for ________ in California Component Manufacturing: Specialized suppliers in Japan, South Korea and Taiwan produce parts like screen, camera, processor etc, Assembly: Components shipped to china and assembled to final product by Foxconn Distribution: Finished ________ shipped all around the world.

UK Common Markets

________: Same as Custom unions except 4 FOPs flow freely (land, labor, capital and enterprise) to improve allocation of resources eg.

USA

Interconnectedness of China and ________ → Both are two of the largest economies in the world that engage in a significant amount of trade with China being largest goods exporter to ________ and US being second- largest exporter to China This benefits both countries… China is able to grow its economy rapidly by exporting goods to the USA USA benefits from lower- cost goods and access to Chinas growing consumer market.

Better transport Better connectivity

________= Improves access to basic services that supports economic activity, infrastructure investment → reduces poverty, creates jobs and improves quality of life This benefits China because… Expands Chinese markers to boost economic growth and strengthen its position as economic power Geopolitical influence since it builds economic and political ties Strengthen energy security and reduce dependence on foreign suppliers because of better access Improve standard of living for Chinese people due to increased demand for Chinese goods and services, attracting foreign investment.

Automobile industry

Competition in ________ Electric vehicles: brought new players into industry in form of Tesla, Rivian and Lucid Motors→ challenge established auto- makers with innovation and sustainability Autonomous Vehicles: Development of self- driving technology by companies like Waymo, Cruise and even Uber investing heavily in self driving cars Ride- Sharing: Emergence of Uber and Lyft disrupts traditional market since consumers rely on these services instead of purchasing cars Led to… greater variety for consumers and even more affordable and sustainable transportation.

India

IBM In ________ and job displacement IBM began outsourcing back office operations to ________ that transferred jobs from USA to India→ loss of jobs in USA, gain in ________ → In 2ut019, IBM laid off thousands of Indian employees (controversy and concern) as a part of a global restructuring plan that aimed to streamline companys operations and cut costs.

substantial reduction

It created a set of global rules that governed trade through (________ in tariff and other barriers AND to eliminate discrimination in international commerce) GATT weakness: Successful tariff reduction caused rise in use of non- tariff barriers AND Dispute resolution was non- binding.

Foreign Aid

________ and Tanzania In early 1990s Tanzania shifted from one party to multiparty system allowing for greater freedom for the press and civil society.

Multilateral trade Agreement

________: legally binding agreement between countries or trading blocs that is negotiated and overseen by WTO.

Toyota

________ and Michigan University Technology transfer is the process by which knowledge, skills and technologies are shared between countries and regions that is facilitated by globalization.

Trade Liberalization

________ (removing barriers) generates economic growth and development.

Apple

________ and Bringing Sustainability → ________ implemented several policies in LEDCs to promote sustainability Renewable Energy projects: In China, ________ partnered with local companies to build two solar farms with a combined capacity of 40 MW to power its facilities and reduce carbon footprint Supplier responsibility: Conducts regular audits of suppliers to ensure they comply with social and environmental standards to LEDC + provides training to help them improve Recycling program: In India and Brazil, ________ collects old devices from consumers and recycles them in an environmentally friendly way.

Nike

________: More Job Opportunities and Foreign Investment Brand produces shoes in China, Vietnam and Indonesia and their apparel in Sri Lanka, Vietnam and Mexico In Vietnam, where ________ has a large production base→ created jobs in manufacturing, research and development as well as marketing sectors.

All about WTO Predecessor to WTO

General Agreement on Tariffs and Trade (GATT) formed in 1946

Tariffs

Tax on imported goods and services that raises the selling price of it within the country

Quota

Physical limit on imports Subsidies Embargoes

Bilateral trade Agreement

Preferential agreement to reduce and eliminate trade barriers

Regional Trade Agreement

Between two or more countries in the same geographical region

Multilateral trade Agreement

legally binding agreement between countries or trading blocs that is negotiated and overseen by WTO

Trading Blocs

Group of countries together to reduce barriers to trade.Like Free Trade Areas (FTA), Customs Unions, Common Markets etc

Free Trade Areas

Bloc where countries agree to abolish trade restrictions between themselves but maintain their own restrictions

CUSMA

Mexico, Canada and the USA have a free trade agreement but can deal individually with Cuba as they see fit

Customs Unions

Members trade all goods and services tariff free and agree on common tariff rates on imports from all third party countries like the EU

Monetary Unions

Members enjoy benefits of custom union and common market but also establish a common central bank with a common currency that controls monetary policy of member countries for EG, Eurozone

Trade expertise needs to be strengthened both in capitals and in country Demand Side- Make trade a priority

trade needs to be a bigger part of national development strategies

Nike

More Job Opportunities and Foreign Investment Brand produces shoes in China, Vietnam and Indonesia and their apparel in Sri Lanka, Vietnam and Mexico In Vietnam, where Nike has a large production base→ created jobs in manufacturing, research and development as well as marketing sectors

Coca Cola in El Salvador Concerns and Response Water depletion and contamination

uses large amount of water in production process

Cultural death and MNCs

McDonalds Microsoft Monopoly Microsoft employs over 175,000 people globally in over 100 countries for things like software development, marketing and customer service