Questions and Answers
What is the name of the organization that replaced GATT?
WTO
What is the main function of a tariff?
To impose a tax on imported products
How many member states are there in the European Union?
27
Which of the following is NOT a member of the Arab League?
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What is the primary function of OPEC?
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Which organization does Brunei belong to?
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What is the main reason for the failure of LAFTA?
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How many member states are there in SAARC?
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What is New York City known as?
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What is the main objective of the United Nations?
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Which of the following cities is known as the 'Las Vegas of China'?
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What is the name of the international organization that aims to promote global peace and security?
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Which city is considered the 'Entertainment Capital of the USA'?
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What is the name of the UN agency responsible for promoting education, science, and culture?
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What is the name of the city in the Philippines that is known as a 'Global City'?
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What is the name of the council that is responsible for maintaining international peace and security?
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Study Notes
Global Cities
- New York City, USA: Financial Capital of the World, also known as the "Big Apple"
- London, UK: Financial and Cultural Center of Europe
- Tokyo, Japan: Technological and Cultural Capital of Asia
- Paris, France: Cultural Metropolis
- Hong Kong, China: Asia's Financial Center
- Singapore: South East Asia Financial and Economic Hub
- Los Angeles, USA: Entertainment & Innovation Capital
- Shanghai, China: Political & Cultural Capital
- Chicago, USA: Political & Transportation Hub of the Midwest
- Beijing, China: Political & Cultural Capital of China
- Seoul, Korea: Cultural Center of East Asia
- Bonifacio Global City (BGC), Philippines: Global City
- Clark, Philippines: Global City, 9,000 hectares
International Organizations
United Nations
- Formed in 1945 after World War II
- Main objective: maintain peace in the world
- Organs of UN:
- General Assembly
- Security Council
- Economic and Social Council
- International Court of Justice
- Trusteeship Council
- Secretariat
- Big 5: USA, Britain, France, Russia, China
Sub-Agencies of UN
- UNESCO (UN Educational, Scientific and Cultural Organization)
- UNICEF (International Civil Aviation Organization)
- ILO (International Labor Organization)
- WHO (World Health Organization)
Trade Organizations
- GATT (General Agreement on Tariffs and Trade): failed due to lack of protection for IP rights and failure to punish irregularities
- WTO (World Trade Organization): replaced GATT
- Tariff: tax imposed on imported products
- Subsidy: direct payment made by the government to companies to purchase imported products
- Quota: number of limits of imported products and services
- Excise tax: taxation primarily to raise revenue for the government
Regional Organizations
- ASEAN (Association of South East Asian Nations)
- Member states: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam
- 5 Pioneer countries: Indonesia, Malaysia, Philippines, Thailand, Singapore
- EU (European Union)
- 27 member states
- United Kingdom: former member state that separated from the Union
- Lisbon treaty: international agreement that amends the two treaties which form the constitutional basis of the EU
- Eurozone: economic and geographic region consisting of all EU countries that use the Euro as their official currency
- SAARC (South Asian Association for Regional Corporation)
- 8 member states: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka
- GCC (Gulf Corporation Country)
- Also known as Arab State of the Gulf
- Member states: Saudi Arabia, Kuwait, UAE, Qatar, Bahrain, Oman
- Arab League
- Member states: Egypt, Lebanon, Syria, Jordan, Iraq
- OPEC (Organization of the Petroleum Exporting Countries)
- Member states: Iran, Iraq, Saudi Arabia, Kuwait, Venezuela
- Non-OPEC members: Russia, China, Norway (competitors of OPEC)
Other Organizations
- LAFTA (Latin American Free Trade Agreement)
- Montevideo Treaty
- Failure: agricultural and service tariffs not included in free trade
