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10 Cards in this Set
- Front
- Back
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Sovereignty-at-bay
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Increasing economic interdependence & technological advances in communications & transportation make nation-state anachronistic
Economic & technological developments have undermined the traditional economic rationale of the nation-state The organization of economic activity on transitional scales increases economic efficiency & domestic economic welfare, contributing to an erosion of national control over economic affairs & policy |
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virtual state
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Virtual State (future, Singapore, Hong Kong, Switzerland)
Virtual State analogous to virtual corporations locating production facilities around the globe and outsourcing In Virtual State, land and manufacturing (BODY) no longer primary attributes of power and wealth, instead knowledge-intensivity, technological innovation, and service sector (HEAD) are primary attributes Body States: Russia, China and India Virtual Strengthens interdependency and reduces the likelihood of war as motivation to acquire territory is reduced Functional Aspect of Virtual State Privitization of State Enterprises Deregualtion of Economic Sectors Reduction of Military Market fills power vaccuum left in the wake of state retreat Emphasis on human resource development as primary goal |
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G8
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"The G8, otherwise known as the Group of Eight, is an assembly of world leaders who meet annually to discuss global issues. Each year, the G8 holds a Leaders’ Summit, in which Heads of State and Government of member countries meet to discuss and attempt to reconcile global issues. It works throughout the year to tackle important contemporary topics such as the economy and climate change. The G8 discusses and creates global policies. However, adherence to these policies is not obligatory, and other countries can decide whether or not to obey."
"The G8 is made up of heads of government from Canada, France, Germany, Italy, Japan, the Russian Federation, the United Kingdom and the United States. The European Union is also represented at meetings by both the president of the European Commission and the leader of the country that has European Union presidency. |
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IMF Conditionality
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4. Conditionality
Demand -- Cut Govt spending, devalue the currency, raise interest rates, trade liberalization Supply -- Promote private investment, financial liberalization Growth -- Privatization, Liberalize FDI rules and regulations |
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IMF Lending process
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1. Initiation 2. Internal Preparations “briefing paper”, Approval from Managing Director, Negotiation of Letter of Intent. 3. Negotiations. (team set up to throw off bias) 4 Internal Review of the Letter of Intent. 5. Funds disbursed in intervals.
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Asian financial crisis
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Erosion of intl competitiveness leads to current account deficit and decline in foreign exchange reserves.
Poor quality of investment -- especially all the money Japan invested. When dollar appreciated, it became expensive for exporting. China lowered prices to compete, and other Asian countries couldn’t compete. They kept on producing causing over capacity which eventually led to deflation. |
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Lenin's theory of imperialism
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Extended Marxist Theory to the International System
Law of Imperialism As domestic profitablity falls, capitalist economies are compelled to seize colonies and establish dependent relationships with these new territories Exploitation shifts from worker/proletariat to the imperial state |
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Hegemonic Stability theory
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Hegemon:
Large Domestic Market Internationally Competitive Industries Advanced Technologies Strong, Internationally Convertible Currency (Belief in a Liberal System) Willingness to Lead and Bear the costs Belief that peace will be reached through free trade because it will uphold a stable international monetary system 2 Eras of Hegemonic Stability Pax Brittanica (1815-1914) Pax Americana (1945-1971?, 1995?) |
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Economic Nationalism
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Importance of the State
Relative Gains (Zero-Sum) Self-Help National Interest Power Maximization Use of State Power Protection of National Industry Government intervention in the Economy Focus on Production (Liberals focus on Consumption) Wealth means Power |
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Dependency and the Modern World System
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Metropole and periphery
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