Global Systems
- Created by: Amy_Hut
- Created on: 21-03-21 15:44
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- Global Systems
- Global international institution
- Organisation established by treaty or other instrument
- E.g. UN, NATO, WTO
- Barriers to Trade and Protectionism
- Import quotas
- Trade restrictions
- Embargoes
- Partial or complete prohibition of commerce & trade with a specific country
- Put in place for political reasons usually
- Partial or complete prohibition of commerce & trade with a specific country
- Global international institution
- Effects of international movement of labour
- Negative
- Workers attracted by higher wages away from home country
- Loss of talent for country of origin
- Loss of skilled workers
- Training gap
- Greater movement = greater risk of disease pandemics
- Outsourcing
- Workers attracted by higher wages away from home country
- Positive
- Reduces geographical inequality between workers
- Workers return to country of origin with new skills/ideas
- Global Systems
- Global international institution
- Organisation established by treaty or other instrument
- E.g. UN, NATO, WTO
- Barriers to Trade and Protectionism
- Import quotas
- Trade restrictions
- Embargoes
- Partial or complete prohibition of commerce & trade with a specific country
- Put in place for political reasons usually
- Partial or complete prohibition of commerce & trade with a specific country
- Global international institution
- Negative
- Reduced un-employment, opportunities to seek work elsewhere
- Addresses important skill & labour shortages
- Recruitment from other nations
- Positive
- Reduces geographical inequality between workers
- Workers return to country of origin with new skills/ideas
- Addresses important skill & labour shortages
- Workers attracted by higher wages away from home country
- Loss of talent for country of origin
- Loss of skilled workers
- Training gap
- Voluntary export restraints
- Diplomatic strategy offered by exporting country to appease importing country
- Deter importing country from imposing trade barriers
- Diplomatic strategy offered by exporting country to appease importing country
- Issued by national government authorising imports from a specific source
- Import license
- Import license
- Grants or allowances awarded to domestic producers
- To reduce their costs and make them more competitive with other goods
- Subsidies
- Technical or regulatory obstacles
- E.g. Restrictions if child labour is known to be involved
- Aim to lower barriers to international trade = Free trade
- Global framework strengthened by GATT and replaced by WTO
- Regional Trade Agreements (RTAs)
- Free market ideas to remove existing barriers to international trade
- Trends in volume & pattern of international trade
- Trends in volume & pattern of international trade
- Free market ideas to remove existing barriers to international trade
- Regional Trade Agreements (RTAs)
- Global framework strengthened by GATT and replaced by WTO
- Each year, US$1 trillion in FDI flows globally
- US, China & Belgium = Top receivers
- Important source of funding for development in all countries
- FDI
- Trends in investment
- Natural resources, market size and financial services = Attractions for FDI
- Trends in investment
- FDI
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