Trade and the World Economy
Ava Martinez
7 min read
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Study Guide Overview
This study guide covers neoliberal policies (deregulation, liberalization, privatization, austerity, free trade, monetary policy), their impacts, and related organizations like the EU, WTO, Mercosur, and OPEC. It explains comparative and complementary advantage in trade, NAFTA's impact, and the EU's role in economic interdependence. Key concepts include supranational organizations, free trade agreements, and the pros and cons of globalization. The guide also includes practice questions and exam tips.
#AP Human Geography: Neoliberalism & Trade - The Night Before 🌃
Hey! Let's get you totally prepped for tomorrow's exam. We're going to break down neoliberal policies, trade organizations, and all that good stuff. Think of this as your ultimate cheat sheet – but, you know, the legit kind! 😉
#Neoliberal Policies: The Basics
Neoliberal policies are all about free markets and less government intervention. Think of it as letting businesses do their thing with minimal rules. Here's a quick rundown:
- Deregulation: Removing rules on businesses. Less red tape = more freedom. ✂️
- Liberalization: Opening up markets to foreign competition. Think global trade! 🌎
- Privatization: Selling government-owned stuff to private companies. 💰
- Austerity: Cutting government spending. Tightening the belt. 📉
- Free Trade: Reducing barriers to international trade. 🤝
- Monetary Policy: Using interest rates to manage the economy. 🏦
These policies aim to boost the private sector, but they're often criticized for increasing inequality and environmental issues.
#New Organizations & Trade Relationships
Neoliberal policies have led to the creation of new organizations and trade relationships. These groups foster globalization by creating new connections and trade agreements. Let's check them out:
- EU (European Union): A regional group promoting economic, political, and social integration in Europe. 🇪🇺
- WTO (World Trade Organization): An international body that sets rules for free trade. ⚖️
- Mercosur: A South American trade bloc focused on economic integration. 🌎
- OPEC: An organization of oil-producing countries that influences global oil prices. 🛢️
Remember Every World Market Operates to help recall the organizations (EU, WTO, Mercosur, OPEC).
#EU (European Union) 🇪🇺
- Promotes integration among European member states.
- Has its own institutions like the European Parliament and Commission.
- Makes decisions that are binding on member states.
The EU is a prime example of a supranational organization.
#WTO (World Trade Organization) ⚖️
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