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Summary future of superpowers notes
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these notes have all been produces for the new set of exam series beginning in the summer of 2018 and are based on the Edexcel exam board.
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The future of SuperpowersChallenges for superpowers:
debt:
- Following 2008 crash subsequent recession- baking crisis, based around mortgage market,
bad loans, mortgage market crashed which loads of companies were invested in.
- Increasing taxes or austerity measures, cut back on government spending in order to pay of
the debt. Spending money, therefore, is reduced and wages are not raising as quickly as
prices.
- Relied on emerging superpowers less efected by the crash in order to prop up their
economy, however, this promoted their infuence as a superpower.
Unemployment:
- Decline of manufacturing in the west.
- TNC’s being owned by conglomerates in Asia. Western jobs depend on their decisions. Eg.
Steelworks in whales owned by middle eastern country.
- Lots of part tme hours, makes our fgures of unemployment look good.
- Lots of areas that didn’t recover, eg. The manufacturing sector many people are having to
retrain and look elsewhere for jobs.
Restructuring:
- Shift away from secondary jobs into the west.
- Not coping with new skills needed for quaternary and tertary jobs.
- Disadvantaged communites in developed countries unable to access new jobs.
- Mismatch between the people in the area needing jobs and the type of jobs available.
Social costs:
- Disadvantaged communites lead to degraded environment.
- Poorer social skills/job skills to excel in new service/ knowledge-based economy.
Cycles:
- The global economy goes in long term cycles.
- The US/USA companies and unis are very good at investng and innovatng which could
restore the western world status.
- BUT it may be that they have to become reliant on the emerging natons for fnance and to
provide resources and knowledge for innovaton projects which could lead to a mult-modal
world.
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