3.2.1.3 international trade, Global features and trends

Created by: teese
Created on: 01-06-22 15:29

How is the pattern of global trade changing?

Developed countries remain the biggest global traders, but some emerging economies are catching up - China is the largest exporter of goods in the world.
Less developed countries are also becoming bigger traders, but the growth is very slow.

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Since the ----s, nearly ---- fair trade producer groups have been set up in less developed countries.

1970
1000

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What things attract foreign investors?

the size of the the market (how many people they can sell to)
stability of the market (e.g. not a war zone).
the possibility of extracting resources for themselves.
the ability to access financial services.

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How has the pattern of investment changed?

until the 1980s, developed countries mainly invested in other developed countries.
From then, there was more investment into emerging economies and developing countries.

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Another big change has been where the investment come from. E------ e-------- now invest heavily in l--- d-------- c--------, e.g. C---- invests a lot of money in countries in A----- and South America.

Emerging economies.
less developed countries.
China.
Africa.

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What is ethical investment?

when a person, company or group only invests in areas considered socially responsible. E.g. investors avoid companies that cause environmental or humanitarian harm.

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Global trade rules are set by the?

World Trade Organisation.

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Why was the WTO set up?

increase trade
help resolve trade disputes

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Name 3 rules set up by WTO regarding how countries should trade with each other.

1) countries can't give another country special access to their market, however they can if they are a member of their trade block.
2) countries should promote free trade.
3) countries should act predictably in their trading.
4) there should be fair compe

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Other cards in this set

Card 2

Front

Since the ----s, nearly ---- fair trade producer groups have been set up in less developed countries.

Back

1970
1000

Card 3

Front

What things attract foreign investors?

Back

Card 4

Front

How has the pattern of investment changed?

Back

Card 5

Front

Back

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3.2.1.3 international trade, Global features and trends