Trade, Globalisation & Institutions Quiz — 7 Free Questions

Question 1

What is the name, originally an acronym coined by a bank economist in 2001, for a grouping that began as Brazil, Russia, India and China, added South Africa, and in 2024 expanded to take in several more countries including Egypt, Ethiopia, Iran and the United Arab Emirates?

Question 2

What is the name for the bloc of six Arab monarchies of the Arabian Peninsula, founded in 1981, that has run a customs union since 2015 and once planned, then shelved, a shared single currency?

Question 3

What is the name for the practice of registering a merchant ship in a country other than the owner's, typically Panama, Liberia or the Marshall Islands, to take advantage of lighter regulation, lower taxes and cheaper crews?

Question 4

What is the name for the four economies, Hong Kong, Singapore, South Korea and Taiwan, that grew rapidly and steadily from the 1960s to the 1990s by orienting their industries toward world export markets, moving from poverty to high income within a single generation?

Question 5

What is the name for a trade bloc whose members not only abolish tariffs on trade among themselves but also apply the same set of tariffs to imports from the rest of the world, so that they must negotiate external trade deals as a single body?

Question 6

What is the name for the fear that free trade and mobile capital force countries to compete for investment by cutting wages, corporate taxes and environmental and labour rules ever lower?

Question 7

What is the name, promoted by the United States Treasury Secretary Janet Yellen, for the strategy of shifting the sourcing of key goods away from rival countries and toward trusted allies, to make supply chains more secure even at some extra cost?

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About Trade, Globalisation & Institutions

This quiz is about international trade and the world economy's plumbing: the institutions that write and enforce the rules, the regional blocs that bind countries together, the long history of trade routes and empires and treaties, the shipping and supply chains that move the goods, and the arguments for and against globalisation. One hundred questions, each describing an institution, a bloc, an agreement, a chapter of history, a chokepoint or a debate, and asking you to name it from four choices of the same kind, then explaining it. Only world-level material is used.

The first pack is the multilateral system: the World Trade Organization and its predecessor, the Monetary Fund and the World Bank, the rules of non-discrimination, the great negotiating rounds, dumping and countervailing duties, and the 1930 tariff act that stands as the warning against protectionism. The second pack is regional integration, from the European single market to the North American pact, ASEAN, Mercosur, the African free-trade area, the Pacific and Asian mega-deals and Brexit, along with the concepts of customs unions and rules of origin. The third pack is the history: the Silk Road and the spice trade, the East India companies and the Hanseatic League, the Columbian Exchange and the triangular trade, the Opium Wars and the Corn Laws, the first great age of globalisation and the Marshall Plan. The fourth pack is logistics and energy: the shipping container, the Suez and Panama canals, the great chokepoints, the oil cartel and its embargo, flags of convenience, just-in-time production, the China shock and friendshoring, rare earths and semiconductors. The fifth pack is the politics and the development debate: the G7 and G20 and BRICS, Davos and the OECD, the Battle of Seattle, the development goals, microfinance and debt relief, fair trade, sanctions, the resource curse, remittances, the Asian Tigers and the rival strategies of import substitution and export-led growth.

India runs through the quiz: its withdrawal from the Asian mega-deal, its 2023 G20 presidency, its place in BRICS, its position as the largest recipient of remittances, and its long post-independence experiment with import substitution. The wrong answers are always other institutions, blocs or terms of the same kind. About a fifth of the questions carry a neutral photograph, a container ship, a trading floor, a central bank, that fits any of the four options. Monetary institutions such as the gold standard and the euro are covered in the separate Money quiz. Names, dates and figures have been checked against standard reference works.