globalisation
- Created by: smithliberty
- Created on: 21-12-19 10:46
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- The EU
- 500 mill citizens, 7.3% world population, 20% of global GDP
- free movement of people, goods, services and capital
- single market with each member following same laws
- economic and political union; 27 counties
- GLOBALISATION
- The IMF
- aim to stabilise exchange rates, secure financial stability, reduce poverty, encourage employment and sustainability
- 187 countries
- promotes international monetary co-operation & stability
- temporary help to countries in debt
- encourages economic growth & gives financial advice
- decisions made by rich countries; poor don't have as much choice
- advice and conditions have caused some countries to suffer
- The WTO
- supervise and liberalise international trade
- framework for negotiating trade agreements
- promotes peace & disputes handled constructively
- trade raises income & economic growth
- rich countries benefit more
- can be undemocratic
- The IMF
- reduction of war probability, improved relations, common aims and foreign policy
- own currency, members working together to gain economic stability
- cost: UK pay £6.4bn
- the Euro: eurozone crisis in 2008- many European countries in debt
- net migration: overcrowding in Britain, Germany & France
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