Globalisation has led to the deregulation of capital markets and the emergence of new state forms (Edexcel A-Level Geography): Quizzes

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Globalisation has led to the deregulation of capital markets and the emergence of new state forms
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Why do some states offer low business rates to TNCs?

To attract TNCs & prosper from capital flows

What is transfer pricing?

Routing profits via subsidiary in low-tax area

What is tax avoidance?

Using legal loopholes to reduce tax owed

What is a tax haven?

A country with nil or minimal taxes

What has the OECD done since 2009 regarding tax havens?

Kept a blacklist of tax haven countries

Which NGOs have campaigned against tax havens and TNCs that use them?

WarOnWant and Oxfam

What did Oxfam calculate in 2016 about wealth inequality?

62 richest = income of poorest 3.6 billion

Which is a consequence of growing global inequality?

Political instability & rejection of elites

What alternative economic model has Ecuador created?

Promoting local firms & limiting imports

What is a disadvantage of tax havens?

TNCs pay little tax, reducing NHS funding

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