Global Development

• The World Bank is an international financial institution that provides loans to developing countries.
• The International Monetary Fund (IMF) is an organization that helps member countries manage their exchange rates, balance payments, and reserves.
• HDI for emerging countries is 0.55 to 0.799
• reasons to trade with other countries: Generate income or increase development, Cheaper to import than to make it themselves., Geographically close, Historical or colonial links, Obtain raw materials/goods that a country doesn’t have
• Factors that have lead to high GDP growth: FDI leads to Creating jobs which boosts the local economy, Investment has attracted FDI creating more jobs

  ,Growth in trading due to improvements in infrastructure which has brought more money to the economy, TNCs invested in a particular country which generates jobs so that the average earnings go up as more people are employed
• Reasons why some countries don't benefit from globalisation: Lack of education and skills, Poor infrastructure, Political instability, Corruption, Natural disasters, Dependence on primary products, Limited access to finance, High levels of debt, Low productivity, Unfair terms of trade, Unequal distribution of wealth
• advantages for bottom-up strategies: Low set up costs which means the schemes are quick to start,  Can be kept running for years because the equipment is usually cheap to run
• Consequences of growth in tertiary: Average wages increase, so more tax, more funding for services/infrastructure, Higher salaries, can afford new services, stimulates growth in new developing areas of employment, Encourages moe FDI, lead to growth in job opportunities which improves QOL, Money generated is reinvested specifically in education and healthcare which helps improve Level of Development
• Disadvantages of growth in tertiary: Increase in unemployment as manufacturing moves abroad,  Increased inequality between those who work in service sector and those who do not (low paid),  Loss of traditional industries and culture,  More expensive housing,  Less time spent at home,  Potential loss of identity,  Environmental damage caused by increased transport
• social impacts of rapid growth: Overpopulation leading to crime or congestion or overcrowding, Lack of teachers or health care professionals so healthcare or education standards remain low, Rural areas don’t benefit as much from improvements which means the gap in inequality increases or more people living below poverty line
• economic impacts of rapid development: Gap between rich and poor widens, leading to social unrest, less developed regions might experience a decline in public/private investments as investors attracted to core regions.