Another global player are the OPEC nations. These nations have major reserves of oil, therefore can set the price of oil in its member countries. This has led to prices of oil changing, having periods of very high prices and periods of very low prices. For example, Saudi Arabia has 22% of worldwide oil reserves, meaning they can sell their oil globally to countries with smaller oil reserves meaning they can make a large profit. Nationally, different Governments are involved in the global supply of energy.
Currently there is only one superpower, the USA. Superpowers have economic, cultural & military power resulting in global political influence. Firstly, the economic factor is very important when trying to have the superpower status. Wealth allows super powers to export their power around the world, buy resources and influence trade. By having an economic influence, the country can also have a large number of companies and economic self-sufficiency.
The mass-production of these rival firearms and their modified variants during the Cold War era reflects the aspect that the United States and the USSR had established themselves as two dominant superpowers immediately following the post-war period in 1945. Proliferation of firearms since the end of the Cold War contributes to the cause of more deaths globally than any other type of weapon used in modern warfare. Since the M-16 and AK-47 weapons systems have remained as the longest serving
Timothy T. Riley SOC-100 October, 20, 2013 David Claerbaut Globalization: A Closer Look In today’s economy multinational corporations are outsourcing at an astounding rate. These conglomerates are making their mark through dominating the business arena through globalization and world trade. Companies like Ford motor company, General Motors, and Wal-Mart just to name a few are considered to be the major power players in the industry. Multinational companies are considered a threat to national independence to secure satisfactory working environments. The world’s fortune 500 companies controlled an astounding 70% of the trade market, and 80% of foreign investment, and 30% of the (GDP), gross domestic product.
He explains that as the global need for oil grows it puts more money in the pockets of the oil producing countries. He has a great “law” in this chapter that says that as oil prices increases the amount of freedom decreases. I found this very interesting just because the measure of freedom can be very subjective and it depends on what a person’s view of freedom is. He also tries to say that the increase of money in these countries fuels more terrorism. Which is another subjective idea because any country becomes richer would almost everything increase?
One effect of hydraulic fracturing on economics is that it creates a huge increase in profit for natural gas sellers and drillers by opening up the opportunity to tap so much more natural gas than was available before. “North America has approximately 4.2 quadrillion (4,244 trillion) cubic feet of recoverable natural gas that would supply 175 years’ worth of natural gas at current consumption rates.” (Earthworks, N. Loris) Another way it affects the economy is that 10,000 jobs could be created by each drilling site that is opened. (N. Loris) However, a negative effect it has is that it costs about 2 billion dollars for each plant and extra for maintenance and disposal. One last affect hydrofracking has on the economy is it lowers natural gas prices by up to 15 dollars a gallon.
Any country with a substantial net export of crude petroleum may become a Full Member of the Organization, however the country must be accepted by three quarters of the current member countries. Another way to group countries is by their economies. The G8 is a group of 8 countries topping the global charts for the largest economies. Since 2014, the G8 effectively comprises seven nations and the European Union as the eighth member, the nations include the USA, UK, Germany and Japan. These countries are the most developed countries in the world they tend export valuable manufactured goods such as electronics and cars and import cheaper primary products such as tea, coffee and food produce.
It would make available more jobs for people and would create more of an income for the government. In the United States alone, the Fracking industry has created more than 1.2 Million people, and has contributed to $385 billion in an uninterrupted flow of money within the country. Also, according to the Department of Energy it is said that natural gas resources have gone up as close to 64% because of fracking. Fracking has many pros and cons that can and will affect the states it in done in. On the health conscious side, there are many different cases in connection with Fracking that range from developmental disabilities, to asthma, to even different types of cancers.
In 2006, out of all the consumer electrics in the world, 80% was exported from China. China is also a massive consumer. It consumes more steel, coal meat and grain than any other nation. This means that it also imports raw materials from many other countries. In 1978 Deng Xiaoping became leader and began an ambitious programme of economic reform aimed at raising rates of foreign investment and growth.
The population provides the much needed labor force that has propelled the country’s industrial and agricultural sector to great heights of productivity. China’s population is the largest in the world. As per mid-2011, the country had a population of over 1.3 billion people (Rosenberg, 2011). This is a 20% representation of the World’s total population because the world population is estimated to be around 6.7 billion. Besides providing labor for industries, the large Chinese population forms a ready market for goods and services.