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Global Governance: Political and Economic

The WTO, the G7/G20 and theories of development

  • 3 things to know
  • Component 3

Overview

Recall questions on the strengths and weaknesses of the WTO and the G7, G8 and G20, world-systems theory, orthodox and alternative measures of poverty, and classical, structuralist and neo-classical theories of development.

What you need to know

Answer each one before you reveal it.

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Evaluation

What are the weaknesses of the G7/G8/G20 forums?

Evaluation

What are the main strengths of the WTO?

Evaluation

What are the main weaknesses and criticisms of the WTO?

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    What are the main strengths of the WTO?

    Model answer

    Strengths include providing a rules-based trading system, dispute settlement mechanism, and forum for trade negotiations reducing protectionism.

  2. 2

    What are the main weaknesses and criticisms of the WTO?

    Model answer

    Weaknesses include favouring developed countries in trade rules, slow decision-making requiring consensus, and criticism that free trade harms developing economies.

  3. 3

    What are the strengths of the G7/G8/G20 forums?

    Model answer

    Strengths include bringing together major economies for coordination, flexibility without formal bureaucracy, and ability to respond quickly to crises.

  4. 4

    What are the weaknesses of the G7/G8/G20 forums?

    Model answer

    Weaknesses include lack of democratic legitimacy, exclusion of most countries, non-binding agreements, and dominance by wealthy states.

  5. 5

    How does world-systems theory categorise the global economy and explain wealth flows?

    Model answer

    World-systems theory divides the global economy into core, semi-periphery and periphery states, with wealth flowing from periphery to core through unequal exchange.

  6. 6

    What are orthodox measurements of poverty?

    Model answer

    Orthodox measurements include absolute poverty lines (such as living on less than a set dollar amount per day) and GDP per capita.

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Democracy and Participation
Political Parties
Electoral Systems
Voting Behaviour and the Media

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Bhikhu Parekh ( –).
193519952000

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ACitizens elect representatives to govern on their behalf.
BRepresentatives are accountable through free, regular elections.
CGovernment is carried out through parties and Parliament.

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Assemble a full-mark answer from its marking points, in the order an examiner wants them.

Patriotism means attachment to one’s country.
TrueFalse

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Spot the fault in a statement. The traps are the mistakes students actually make.

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