Trade

Question 1

When did China join the WTO?

Answer 1

2001
Tariffs lowered

Question 2

China: 1978 exports value vs 2005?

Answer 2

1978- $10bn
2005- $4.3 trillion

Question 3

New Silk Road connects…?

Answer 3

1/5 global GDP
And 1/2 world’s population.

Question 4

If China’s growth rate eases…?

Answer 4

to 5-6% Still largest contributor to global growth at 35% (3x US)

Question 5

How much of Mali’s land can grow decent crops?

Answer 5

Less than 20%
Drought and desertification threats

Question 6

How many government changes in Mali since 2012?

Answer 6

5
Want to get the gold mine billions!

Question 7

Mali % GDP from agriculture

Answer 7

40%
Cotton, fertilisers, sesame seeds, dried fruit (low value, price fluctuations)

Question 8

Why is Mali’s cotton hard to sell?

Answer 8

The US subsidies American cotton production. Can’t compete price wise.

Question 9

Factors affecting global trade?

Answer 9

• Resource endowment
• Locational advantage
• Investment
• Historical factors
• FDI attractiveness
• Political policies and stability
• Population characteristics

Question 10

UK historical success factors:

Answer 10

Industrial cities (Glasgow, Liverpool) and revolution
Empire- 1/4 world’s population
MNCs (e.g. GlaxoSmithKline pharmaceuticals $10bn a year)
London Insurance market (10% global insurance)
Good governance and stability- attractive to FDI