Wealth and Poverty

What was the case of the Panama Papers?

It helped clients to evade taxes and hide their identities and raised the question of why wasn't there more international cooperation in stopping tax evasion

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What was the Odebrecht and Petrobas scandal?

When two Brazilian firms helped to pay for political campaigns if they got the building contract

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What was the Rana Plaza Disaster?

The worst industrial disaster ever which forced brands to act and they signed two agreements to protect workers lives, but these were private not international laws

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What is the international political economy?

The interplay of economics and politics in world affairs

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What is interdependence?

A relationship between two parties in which each is affected by the decisions that are taken by the other

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What is the hyperglobalist view of the consequences of globalisation for states?

It is radically reordering the framework of human action and the nation-state is dissolving

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What is a sceptical view of the consequences of globalisation for states?

It represents a heightened level of internationalisation which has already been reached before WWI and states have been the main driver of this process

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What is a transformtationalist view of the consequences of globalisation for states?

States' power and capabilities are not necessarily reduced but in the process of being restructured; the transformation includes both integration and fragmentation

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How does IPE respond to states (public power) and markets (private power)?

IPE is about the interrelationship between public and private power in the allocation of scarce resources

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What does Cui Bono mean?

Who benefits?

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What are the politics of distribution?

The gains of globalisation are not evenly distributed, we decide who gets what domestically and internationally

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Internationally, who are markets enabled by?

Government action as treaties and laws allow trade and therefore markets

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What does inequality connect to?

Financial governance

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During which era was there the most equitable period of growth?

The Keynesian era

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Which policies increased inequality?

Neoliberal

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What government policy caused inequality?

Cuts to government spending

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How is financial globalisation gendered?

Women disproportionately bear the costs of reducing social policies

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What was the controversy of the US Steel Tariffs

Trump raised tariffs on steel imports as there was a rust belt of votes who had been forgotten. However only 200,000 Americans work in the steel industry and for every 1 job saved, 40-60 jobs are at risk. Therefore the rationale was mercantilist

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What is the controversy of the undervalued RMB?

The Chinese government deliberately undervalues their currency by purchasing international currencies to keep them stronger which helps their exports stay cheaper than they should be and makes America less competitive

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What is the controversy of Scottish Independence?

Investors don't like interdependent views go governments have moved away from them which makes small countries at risk because they are dependent on investors. Therefore, this competition stops Scotland making domestic policies

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What was the 1994 Peso crisis and 1997 Asia crisis a result of?

A sudden loss of confidence among private actors in financial markets

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Wealth and Poverty

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