GEB 3373 Final Exam
BPO
Business Process Outsourcing; call centers, help desks, etc.
Steep decline
Deepening impact: as the crisis moved to the real economy in 2009, islamic banks saw a ____ ____ in profitability.
Anglophone
English speaking person; SSA
India's monetary system
FREE FLOAT - determined by supply and demand. In 2016, large bills were banned. WHY? effort to reduce corruption (counterfeit money), increase tax being paid, increase money supply. Was basically a wash. VERY LOW VOLATILITY, expected to continue in 2023
Diwali
Festival of lights in India. Celebrated by many Sikhs, Jains, and Buddhists as well as Hindu.
Halima Aden
First hijab wearing model in Sports Illustrated, 2019
Association of Southeast Asian Nations (ASEAN)
Formed in 1967, promotes political and economic cooperation. -Signed free-trade pact with China in 2003 -Established ASEAN Free Trade Area (AFTA, 1993) to lower tariffs -In the 2021 and 2022 annual summit, they barred Myanmar general.
Asia Pacific Economic Cooperation (APEC)
Formed in 1989. 21 members from both sides of the pacific. Promotes free trade and investment among members.
African Union
Formed in 2002, promotes development/peace, decreased poverty/corruption. Recognizes the right to intervene in states on humanitarian/human rights grounds. New headquarters were built by CHINA.
Francophone
French speaking person; SSA
Gini coefficient
How income inequality is measured; on a scale from 0 (everyone in that country earns the same income) to 1 (one person earns all income in that country)
left
In Latin America, there has been a political shift to the ________ across the region. But there are some new diverse policies -- Argentina just elected a new right-wing libertarian president.
eat rice
In SE Asia, several languages translate literally - "eat" is translated as ____ _____.
Export control
India had an ____ ____ on onions in 2020 after flooding!
Parliamentary democracy
India has a ________ _______.
continuing reform efforts
India is ______ _____ ____ which begun in 1991 with privatization.
High-context
India is a _____ ____ culture.
Tightening
India is currently _______ their monetary policy, but that could change.
Non-Alignment
India practices ______ ______ -- after the cold war, we're not going to align ourselves with soviet union or US. Strategic autonomy - same idea, just different name. They stay out of the russia ukraine conflict.
Caste System
Indian social hierarchy. Five categories (4 + Dalits). Discrimination is illegal but caste still matters. Can define your profession, marriage opportunities. Rude to ask about caste Affects elections ands CEO selection.
Southeast Asia
Islam, Theraveda Buddhism, and Christianity are the three most popular religions in _______ ______.
minor impact
Islamic banks saw only a ____ ____ on profitability in the early stages of the crisis, while credit and asset growth remained strong.
partly free
Kenya is ___ ___ but violence has erupted in past elections. Most recent election was in August 2022 - close but contested.
Political environment in the 1990's
LATIN AMERICA: ______ _______ ___ _____ ___________: High growth. Income inequality remains a problem which causes political instability.
Political environment in the late 1980's
LATIN AMERICA: ________ ___________ ___ ____ _____ _____: Economic Reforms -Lowered trade barriers -Free trade agreements -Privatization
Sociocultural environment of southeast asia
Largest cities: Manila, Jakarta, Bangkok. Fast urbanization: In 2015, only 21 cities had a population of over 1 million. In 2025, 36 cities are expected to have a pop of over 1 million.
Indian women in the workforce
Less than 1/5th of women participate in the labor force, this has also been declining over the past two decades.
global middle class
Most new members of the _____ ____ ____ will come from India.
Indo Pacific Economic Framework (IPEF)
Most significant US economic engagement in theregion leaving Trans-Pacific Partnership in 2017
India pledges on Climate
Net zero by 2070.
global terrorism deaths
Over 75% of _______ ______ _________ occur in Sub-saharan africa.
1/3rd
Over _______ of SSA is unemployed.
The US
PER CAPITA, who has the largest emissions of CO2?
India's Freedom House Ranking
Partly free and semi-consolidated democracy, with a score of 66/100. They were recently downgraded due to "electoral autocracy" in 2021.
Lusophone
Portuguese speaking person; SSA.
The Quad in India
Quadrilateral Security Dialogue. MEMBERS: US, Japan, Australia, India. came together bc they're concerned about China expanding military power/political influences.
food
Region/countries access to _______ is a good/robust predictor of social unrest/conflict/political instability.
India's weakest area in IPR
Regulator data protection (RDP) - they have an overall rank of 42/55. RDP protects pharma data to keep it from being used to produce generic versions of patented drugs.
Mauritius
Why were FDI inflows led by _______? Their position as tax havens.
13 out of 16
____ ___ ____ _____ countries in ME/NA have lower standards of living than pre-covid.
Sub Saharan Africa
____ _____ ____ has the largest population of people under 20.
India
____ is the 2nd largest English speaking country (10% of it's population - 125 million).
India
____'s main religion is Hinduism (80%) but around 15% are muslim.
Arab states`
_____ ____ are normalizing, expanding, and deepening relations with Israel. This started decades ago (Egpyt 70's, Jordan 90's).
food insecurity
_____ ____ is a massive issue in Sub Saharan Africa. 20% are undernourished. Food prices have doubled because of pandemic/ukraine war effects/declining security, four season drought.
India
_____ has a tariff on US agricultural goods - due to a retaliation for US tariffs on Indian steel and aluminum.
MENA
_____ has a very high oil dependence. For reference, the US is the world's largest oil producer and they only have <1% oil rents.
India
_____ is the world's fourth biggest emitter of carbon dioxide.
Shia
______ Islam venerate (ie respect) some clerics as saints.
Islamic Banking
______ _______ has key differences from western banking: -NO interest allowed -All profits/losses are shared. -Banks can only invest in tangible assets
MENA
______ finds images of prophet (like Mohammed) offensive.
India
______ has a very large Pharma Industry (183 factories) that the US is VERY DEPENDENT on.
Nigeria
______ is africa's biggest oil exporter.
India
______ is expected to be the 3rd largest economy in the world by 2027, surpassing Germany and Japan (ALREADY LARGER THAN FRANCE.)
Thailand
_______ is very reliant on service exports (aka tourism). They are a top-5 global destination. VERY dependent on Chinese tourists.
African countries
________ _______ lead the world in female labor force participation.
greenfield investments
________ _________ means that you are investing in a country to start from scratch.
South Africa
_________ _______ moved from apartheid to democracy in 1994 (bc of Nelson Mandela). They have a modest but steady GDP growth (3.3% per year avg) Joined BRIC (Brazil, Russia, India, China) in 2011.
Egypt
_________ sells stake in state-run companies to attract more private investment (e.g. the opposite of nationalization, PRIVATIZATION.)
India's tariff rates
__________ _____ _______ are volatile. Individual product lines experiencing tariff increases ranging from 2 to 140 percent.
Acquisition strategy
acquiring an established company, but has downsides (company could have debt and you'd get that too.)
Kuznets curve
as a country grows, their environment gets really bad bc they're doing things that harm the environment. At a certain point, they realize this and pass laws to help reverse effects. Having environmental pollution is part of the process but at some point, your population demands a better environment.
Apartheid
black population was kept in separate cities, schools, etc. Mandela was huge person fighting this, was eventually elected president of their new democracy in 1994.
Kra Isthmus
canal from thailand. Would cut time/cost of transport of goods. Thailand is asking for by-in's from everyone - not just US/China. Could change Singapore (no longer a regional hub)
Why FDI increased during covid
china manufacturing caused companies to go to India instead.
substinence farming
farming for your own good to put food on your own table, worried about simply surviving.
Elasticity
how sensitive something is to a demand curve. If someone wants something bad enough, they'll still buy it <-- oil is super important, regardless of the price people still need to buy it.
concept of face
sense of self-respect or esteem which people demonstrate in communicating with others
Holi
spring festival of colors; India
OPEC
trying to limit supply of oil - to keep PRICES HIGH! Less profit for the other countries (Saudi Arabia)
Sunni and Shia
two main branches within Islam (85-90% in the first; 10-15% in the second)
India Communication
"NO" = rude in almost all circumstances, you might often just get silence instead of "no." -Head shake often means agreement. -Head is holiest part of body, feet are the dirtiest. Don't touch your head, point feet. -Don't use your left hand -Give/take gifts/cards with both hands. -Take time with building relationships.
Wealth inequalities in India
Bottom 50% own 3% of the total wealth Top 30% own >90% of the total wealth
1997 Asian Financial Crisis
- Investors begin to distrust Thailand's ability to repay foreign loans and maintain value of its currency, the baht, which was pegged to dollar-denominated basket of currencies ---> baht sell off in international market. A trade deficit (importing more than you're exporting) caused an increased supply of baht on the global market. -Thailand then devalues the baht, unpegs currency. -Investors realize other Asian nations suffer from the same problems --> sell off of foreign currencies goes regional. -Aftershocks eventually spread to Latin America and Russia, who also defaulted on their foreign debts.
India Legal System
-Common law with UK influence -Personal law - separate codes for different religions.
India's political risks
-Increasing nationalism (they're not popular with foreign investors) -Poor infrastructure (vulnerable to natural disasters) -Significant poverty -Ukraine-Russia War has cause a hike in oil prices, contributing to inflation and supply chain disruptions and increasing interest rates. -"SOFT" on Russia - NO SANCTIONS. -Kashmir: worsening relations with Pakistan. -Tensions with China -Corruption
Reasons why the 1997 asian financial crisis happened
-Significant capital inflows (led to bank/business debt) -Increasing trade deficits (led to increased supply of baht on global market) -Financial panic
India's Social structure
-Very communal - importance on multigenerational, extended family. -Power respecting; of age, authority.
regional fdi
2023 UNCTAD World Investment Report showed that over a five year period (17-22), _____ ____ increased 41% in Southeast Asia
Arab Spring
A series of public protests, strikes, and rebellions in the Arab countries, often facilitated by social media, that have called for fundamental government and economic reforms. STARTED BY a tunisian street vendor who set himself on fire in protest outside of a government office.
diversification
An advantage of the three t's (trade, transport, and tourism) is _______________.
half
Approx. _____ of SSA is connected to electricity.
WTO/Doha Round
Began in 2001 Deadlocked in 2005 and 2008 over ag issues—main point • Developing nations, (esp. India), want U.S./EU/Japan to ↓ag subsidies; also want to keep right to impose tariffs incase of sudden price ↓ or import ↑ (aka "special safeguard mechanism"* • Developed countries: OK, but ↓ tariffs in ag and manufacturing• 2013: Trade Facilitation Agreement expedites customs procedures • 2015: Draft agreement to ↓ ag/fishing subsidies, tariffs on IT goods • 2015: Final agreement fails; India blocks ↓ in fishing subsidies • EU Trade Commissioner: Meeting is "failure" • Former US Trade Rep: Need "fresh start"
lowered
Between 2000 and 2021, India _____ it's corporate tax rate by 20 percentage points. BUT 2022 increased corporate tax rate back up to around 35%
Theraveda Buddhism
SE Asia has _____ _____, which is practiced more in the mainland and is more conservative than other types of Buddhism.
rising inflation
Some contributors to _____ _____ in SSA: Increase in food and energy prices and exchange rate deterioration.
China and India
Southeast Asia gets significant minority populations from _____ _____ ______.
Domestic Debt
Subsaharan Africa has a very large ratio of _________ _______ (financing a country through their own asset purchases/sales - like mortgages)
Prosperity summit negotiations in India
Sustainable trade, stable supply chains, and clean environmental and legal terms; negotiations will continue in 2023.
Southeast Asia political enrivonment
The _____ _____ _____ ____ was shaped by UK, US, French, Spanish, and Portuguese colonizers.
BJP
The ______ is the current party ruler in India (Narenda Modi is the current prime minister). Negative feedback with this party due to Hindu nationalism, controversial policies.
China
There are significant tensions with ____ in India, causing political risks. Examples: Malacca Strait: Main route between Indian and Pacific Oceans; militarization of region. 90% of India's trade volume is maritime. Brahmaputra River: Dams in Tibet support Chinese hydropower but affect access downstream.
9 coups
There have been _____ _____ (violent overthrow of power, usually in the government) in Sub-saharan africa since 2021.
India's Values and Attitudes
Time: respect for age, elders are extremely important. Social status: conferred by group membership Education: school enrollment varies by class; low enrollment rates and poor quality.
the three t's
Trade, transport, tourism
Indonesia
What country is the world's largest muslim country?
Shia
Which branch of Islam is more hierarchial?
India
Which country has the largest democracy?
Narenda Modi
Who is the Prime Minister of India?
Prophet Mohammed's death
Why did Islam split off into the two different sectors?