Trade, Globalisation & Institutions Quiz — 7 Free Questions

Question 1

Which sea-level waterway, opened in 1869 and about 190 kilometres long, links the Mediterranean to the Red Sea and cuts thousands of kilometres off the voyage between Europe and Asia compared with sailing around Africa?

Question 2

What is the name for the eleven-country Pacific-Rim trade agreement that went ahead in 2018 after the United States pulled out of the original version the year before, and which the United Kingdom joined in 2023 as its first new member?

Question 3

What was the name of the 1994 pact that removed most tariffs on trade among the United States, Canada and Mexico, and which a 1992 presidential candidate warned would produce a giant sucking sound of jobs leaving for the south?

Question 4

What is the name, coined by a 19th-century German geographer, for the network of overland and sea routes that carried goods, ideas, religions and disease between China, Central Asia, India, Persia and the Mediterranean for roughly fifteen hundred years?

Question 5

What is the name for the informal grouping of seven large advanced economies, the United States, Japan, Germany, Britain, France, Italy and Canada, plus the European Union, whose leaders have met at an annual summit since the mid-1970s?

Question 6

What is the name, coined by the economist Jagdish Bhagwati, for the tangle created when dozens of overlapping bilateral and regional trade agreements each carry their own tariffs, timetables and rules about where goods are made?

Question 7

What is the name for the British tariffs and restrictions on imported grain, in force from 1815, that kept the price of bread high to protect the incomes of landowners, and whose repeal in 1846 was the decisive Victorian triumph of free trade?

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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.