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Flashcards in Trade relationships and patterns Deck (32)
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issue for the EU and NAFTA of new trading blocs such as ASEAN becoming more dominant

EU and NAFTA may lose out from manufacturing in ASEAN trade bloc
trade competition
more political players- have to listen to their opinion
power demand in Asian countries if we become reliant on their products


issues of new trading blocs such as ASEAN becoming more dominant for china

china may lose out because manufacturing may move to Thailand, Vietnam, etc
FDI move away from china, companies may choose to invest in up and coming countries like Thailand - loss of jobs in china


what does ASEAN stand for

Association of South East Asian Nations


china is a member of what trade bloc

APEC (Asia-Pacific Economic Co-operation)


the banana wars were between which 2 entities

EU and USA


why have tensions arose between trading entities

they all want to ensure the best deals for their citizens, their workers and businesses based within the group (including TNCs)


examples of trade deals in the works

Trans-Pacific Partnership involving free trade between the USA and countries in Asia and South America
Transatlantic Trade and Investment Partnership between the USA and EU


what type of economy has the USA traditionally been



why do conflicts arise over free trade

as there is always one country that loses out in the long or short term
there is no such thing as free trade due to imposed tariffs which can cause conflict or even outsourcing in an area as people don't want to lose jobs- causes skills based unemployment


what is the aim of the trans-pacific partnership

to deepen economic ties between these nations, slashing tariffs and fostering trade to boost growth


how many countries are in the negotiation for the trans-pacific partnership

12 (includes USA, Australia, Japan and Vietnam)


what topics does the trans-pacific partnership also cover

investment, patents, labour and environmental standard


example of liberalist and protectionist POTUS'

Barack Obama- liberalist
Donald trump- protectionist


arguments from US citizens against the trans-pacific partnership

fear it will favour big businesses and other countries at the expense of American jobs and national sovereignty


what is the aim of the transatlantic trade and investment partnership (TTIP)

cut tariffs and regulatory barriers to trade between the US and member states of the EU


why would the TTIP threaten the NHS

we rely on other countries for staff


argument against the TTIP

argue that it will undermine democracy as it will give more power to TNCs above all democratically elected governments


what is required to be a member of the G7 nations (according to the IMF)

high net national wealth
high HDI


countries involved in the G7

Canada, France, Germany, Italy, Japan, the UK and the USA


what is the G20 group (how is it different from G7)

is an international forum for the governments and central banks of 20 major economies. G20 was created to give a voice to the major developing economies


examples of countries in G20

Australia, india, Italy, mexico, south Africa, EU (as a single member)


what is china's role in Africa

extract a range of primary resources including metals to support industrial expansion in china


in 2014 how much was the value of trade between Africa and china

$200 billion


how much of china's foreign aid is distributed in china

over half


what is flooding African markets

cheap Chinese goods


benefits for Africa due to Chinese assistance

numerous infrastructure programs to build much needed roads, bridges, railways, schools and hospitals (help to bridge the development gap)


example of how china aided healthcare in china in 2015

Chinese doctors played an important role in addressing the ebola outbreak in 2015


how does trade with Africa benefit china

Chinese companies get new business investments
country as a whole gets steady access to much needed natural resources


top 3 main exporters in 2016

1. china
2. USA
3. Germany


top 3 main importers (2016)

1. USA
2. china
3. Germany