Superpowers 6

Question 1

What is the dominant economic system emerging globally as countries develop?

Answer 1

Free-market capitalism

This system is becoming increasingly dominant as previously colonized nations develop rapidly.

Question 2

Which economies collapsed in the USSR and Eastern Europe?

Answer 2

Socialist economies

The collapse of these economies marked a significant shift in global economic power.

Question 3

What model has China moved towards from socialism?

Answer 3

State capitalism

This shift reflects a significant change in China’s economic approach.

Question 4

What reform has occurred in communist Cuba?

Answer 4

Limited private ownership of businesses

This reform indicates a shift towards more market-oriented policies.

Question 5

Name the two groups of states currently dividing the global economy.

Answer 5

• BRICS
• G20

BRICS includes Brazil, Russia, India, China, and South Africa, while G20 includes the EU and other major economies.

Question 6

The G20 economies account for what percentage of the world’s GDP?

Answer 6

85%

This significant share highlights the G20’s influence in global trade and economics.

Question 7

The G20 economies account for what percentage of the world’s trade?

Answer 7

85%

This statistic underscores the G20’s role in global economic dynamics.

Question 8

True or false: BRICS may overtake G20 and become the most influential group of states.

Answer 8

TRUE

Changing industries and new political approaches could lead to BRICS gaining more influence.

Question 9

What is an emerging country

Answer 9

State that has a developing economy and large projected growth

Question 10

What could potentially lead to severe shortages and high prices by 2030?

Answer 10

• Increased worldwide demand for food (35%)
• Increased demand for water (40%)
• Increased demand for energy (50%)

This demand is driven by strong economic and population growth in Asia alongside high demand from the West.

Question 11

What is a possible consequence of China expanding its naval and air power?

Answer 11

A new arms race could occur

This expansion may alter military dynamics globally.

Question 12

If Asia were to become dominant, the global economy would depend on the health of NICs in Asia rather than which region?

Answer 12

The West

NICs refer to Newly Industrialized Countries.

Question 13

What are IGOs and TNCs known for in the context of global power?

Answer 13

Having more power than a country and influencing others economically or politically

IGOs are Intergovernmental Organizations, and TNCs are Transnational Corporations.

Question 14

What do the World Bank and IMF provide to developing countries?

Answer 14

Loans aimed at helping the country develop

These loans have faced criticism for funding unethical projects and damaging the environment.

Question 15

True or false: The World Bank and IMF have been criticized for giving loans to countries that can easily pay them back.

Answer 15

FALSE

They have been criticized for lending to countries incapable of repaying their loans, leading to forced market openings and privatization.

Question 16

Which regions have the highest proportion of voting rights within the World Bank and IMF?

Answer 16

• USA
• EU

Their interests are often prioritized over those of indebted countries.