Ir Midterm Key Terms

Front 1

A geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws

Back 1

SEZ or Special Economic Zone

Hint 1

A good example of a SEZ would be Shenzhen, China. Because it is a SEZ, It has developed from a small village into a city with a population over 10 million within 20 years

This is important because SEZ allows trade to happen more freely which strengthens bonds between nations and boosts globalization.

Front 2

An international organization founded in 1945 whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace.

Back 2

United Nations (UN)

Hint 2

Example: The UN has created the World Health Organization which battles diseases in poor countries

The UN is significant because it bridges the gap between nations and allows members to coexist peacefully.

Front 3

A transplanetary process or set of processes involving increasing liquidity and growing multidirectional flows of people, objects, places, and information as well as the structures they encounter and create that are barriers to, or expedite, these flows

Back 3

Globalization

Hint 3

An example would be American companies have customer service call centers located in India. This is important because Globalization allows nations to interact and share resources and information. This communication leads to economic growth, stronger alliances between nations, and an overall stronger global economy

Front 4

The Association of Southeast Asian Nations; a geo-political and economic organization of 10 countries located in Southeast Asia. . Its aims include the acceleration of economic growth, social progress, cultural development among its members, the protection of the peace and stability of the region, and to provide opportunities for member countries to discuss differences peacefully

Back 4

ASEAN

Hint 4

An example: ASEAN Agreement on Transboundary Haze Pollution in 2002 as an attempt to control haze pollution in Southeast Asia

The ASEAN is significant because it fosters trade between SE Asian countries. It makes flow easier.

Front 5

Processes that interconnect individuals and social groups across specific geo-political borders

Back 5

Transnationalism

Hint 5

An example would be b. In the book “Factory Girls,” women leave their small villages to go to the big cities in order to find jobs at factories. They money they make is then sent back home to their families in the villages. The process of the factory jobs interconnects the cities with the rural farming villages.

Front 6

Process through which people interact with each other over political and economic authority

Back 6

Civil Society

Hint 6

Voluntary civil organizations such as bowling clubs or environmental clubs

Civil Society is significant because it describes a nations society as a whole, and wishes it to be homogeneous

Front 7

Geneva-based non-profit foundation best known for its annual meeting in, Switzerland, which brings together top business leaders, international political leaders, selected intellectuals and journalists to discuss the most pressing issues facing the world

Back 7

Davos

Hint 7

An example would be the Global Health Initiative (GHI) was launched by Kofi Annan at the Annual Meeting in 2002. The GHI's mission is to engage businesses in public-private partnerships to tackle HIV/AIDS, tuberculosis, malaria and health systems.

Davos is significant because it brings together top business leaders, international political leaders, selected intellectuals and journalists to discuss the most pressing issues facing the world, including health and the environment.

Front 8

A declaration adopted by UN which represents the first global expression of rights to which all human beings are inherently entitled

Back 8

Universal Declaration of Human Rights (UDHR)

Hint 8

Example: Eleanor Roosevelt supported the adoption the UDHR as a declaration, rather than as a treaty, because she believed that it would have the same kind of influence on global society as the United States Declaration of Independence had within the United States

The significance of this is that even though not formally legally binding, the Declaration has been adopted in or influenced most national constitutions since 1948. It also serves as the foundation for a growing number of international treaties and national laws and international, regional, national and sub-national institutions protecting and promoting human rights.

Front 9

These people take the position that there is such a thing as globalization and it encompasses virtually the entirety of the globe

Back 9

Globalists

Hint 9

B. Britain’s Prime Minister Gordon Brown is an example of a globalist; he made speeches about globalization and “new world order."

Front 10

A system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer.

Back 10

Supply chains

Hint 10

Example: a customer purchases a computer online from Dell Computer, the
supply chain includes, among others, the customer, Dell’s Web site that takes the
customer’s order, the Dell assembly plant, and all of Dell’s suppliers and their suppliers.

This is significant because it shows just how extensive the "chain" is from producer to consumer.

Front 11

the investment in a manufacturing, office, or other physical company-related structure or group of structures in an area where no previous facilities exist

Back 11

Greenfield Investment

Hint 11

Example: Hyundai Motor Company goes ahead with a major greenfield investment in Nošovice in the Moravia-Silesia region of the Czech Republic. The company plans to open a new manufacturing plant, which should begin operations in October 2008 and employ 3,000 people. It is expected that a further 13,000 people will find work within the supply industry and in services. Both the Czech government and Hyundai will sign an agreement outlining the conditions of this investment.

This is significant because Developing countries often offer prospective companies tax-breaks, subsidies and other types of incentives to set up green field investments. Governments often see that losing corporate tax revenue is a small price to pay if jobs are created and knowledge and technology is gained to boost the country's human capital.

Front 12

The creation and maintenance of an unequal economic, cultural and territorial relationship, usually between states and often in the form of an empire, based on domination and subordination

Back 12

Imperialism

Hint 12

An example of imperialism is the nation of Germany before WWII. Germany extended its territory by taking over other countries.

Imperialism is significant because it fosters the spread of certain political ideologies and economic systems - whether bad or good.

Front 13

an organization of countries formed in 1961 to agree on a common policy for the production and sale of petroleum

Back 13

OPEC Organization of Petroleum Exporting Countries

Hint 13

Example: Leading up to the 1990-91 Gulf War, Iraqi President Saddam Hussein advocated that OPEC push world oil prices up, thereby helping Iraq, and other member states, service debts.

t OPEC has generally done an exceptional job in its undertaking of the task of promoting global economic stability in recent times

Front 14

A system of monetary management established the rules for commercial and financial relations among the world's major industrial states in the mid 20th century.

Back 14

Bretton Woods

Hint 14

This committee increases international economic cooperation. The IMF, The World Bank, The WTO, and IFC (International Finance Committee) are all Bretton Woods Institutions

Front 15

This agreement was signed in 1947. The agreement was designed to provide an international forum that encouraged free trade between member states by regulating and reducing tariffs on traded goods and by providing a common mechanism for resolving trade disputes.

Back 15

GATT

Hint 15

The General Agreement on Tariffs and Trade has a set of rules, one of which being to reduce and eliminate tariffs and other barriers to trade through negotiations. For example, the clothing and textiles sector of GATT requires member countries maintaining restrictions to phase them out gradually in four stages, so as to abolish them completely by 1 January 2005.

Front 16

An international organization based in Geneva that monitors and enforces rules governing global trade

Back 16

WTO (World Trade Organization)

Hint 16

There was a time when sea turtles were endangered by commercial shrimping, the USA said they would not import shrimp unless it was caught with nets that allowed the turtles to escape. The USA however did not give countries time to comply (3 months). The WTO intervened and ruled that the USA was making trade unfair. The WTO is significant because it acts as a buffer between trading nations, making global trade as free and fair as possible.

Front 17

An IGO whose purpose is economic development and the elimination of poverty -- Financial Institution

Back 17

World Bank

Hint 17

An example of the World Bank at work would be a poverty reduction strategy used by TWB: 45 countries pledged $25.1 billion in aid for the world's poorest countries. This money goes to a sector of TWB (International Development Association) which distributes this money to eighty of the world's poorer countries.

Front 18

The IGO that oversees the global financial system; an organization set up in 1944 to lower trade barriers between countries by monitoring foreign exchange systems and lending $ to developing nations. One of the main goals of this IGO is to stabilizing international exchange rates.

Back 18

IMF (International Monetary Fund)

Hint 18

An example would be in 1982 Mexico was facing a huge debt crisis. They turned to the IMF for financial relief. The IMF is significant because it allows for countries going through various stages of development to rely on the government to give them a leg up; it essentially provides good financial governance.

Front 19

Indicates that one or more cultures impose themselves on other cultures thereby destroying local culture.

Back 19

Cultural Imperialism

Hint 19

For example, old American television scripts are exported at different times to different parts of the world and tehy are adapted to the needs and interests of locals...thus some very early American tv shows are still broadcasted in other countries.

This is significant because it spreads one culture to other countries which in turn destroys the traditional local culture.

Front 20

An agreement between US, Mexico, and Canada with the intention of expanding everyone's economies, investment, and trade transparency.

Back 20

NAFTA (North American Free Trade Agreement)

Hint 20

An example of NAFTA would be: NAFTA allowed jobs to be shipped to Mexico with no penalties and it allowed trucking between Mexico, U.S. and Canada.

NAFTA is significant because it benefits all three countries at large as a result of rising GDP, trade, investment, and employment levels.

Front 21

The economic, political, and cultural influence of the West on the rest of the world.

Back 21

Westernization

Hint 21

Example: Asian cultures that have traditionally existed on a primarily plant-based diet might lose this healthy lifestyle as more people in Asia switch to a Western-style diet that is rich in animal-based foods.

Front 22

An agreement between Paraguay, Uruguay, Brazil and Argentina to promote more free and open borders for goods, people, services, and currency move more fluidly between them.

Back 22

MERCOSUR

Hint 22

Example: Free Trade Zones Mercosur creates; member nations can have commercial free zones where they are not subjected to certain taxes.

This is important because it strengthens the integration process between states and nations. It allows the free movement of manpower and capital across the member nations, and depends the grating of equal rights and duties to all member countries

Front 23

A body of work critical to the development project. It emphasizes that the development project contributed not to the development of the nation-states of the south but more to a decline in their independence and to an increase in their dependence on the countries of the north, especially the US.

Essentially this theory states that the poverty of the countries in the periphery is not because they are not integrated into the world system, or not 'fully' integrated as is often argued by free market economists, but because of how they are integrated into the system.

Back 23

Dependency theory

Hint 23

an example : Poor nations provide natural resources, cheap labour, a destination for obsolete technology, and markets for developed nations, without which the latter could not have the standard of living they enjoy.

Front 24

An economic and monetary union (EMU) of 17 European Union (EU) member states that have adopted the euro currency as their sole legal tender.

Back 24

Eurozone

Hint 24

Italy, Malta, France, Austria, Germany, are all examples of countries that are part of the "Eurozone"

This is significant because it allows homogeneous trade among neighboring countries. The same currency makes trade easier.

Front 25

Theory that envisions a world divided mainly between the core and the periphery with the nation-states associated with the latter being dependent on, and exploited by, the core nation states

Back 25

World system theory

Hint 25

An example is The most well-known version of the world-system approach has been developed by Immanuel Wallerstein in 1970s and 1980s. Wallerstein traces the rise of the world system to 15th century, when European feudal economy suffered a crisis and was transformed into a capitalist one. Europe (the West) utilized its advantages and gained control over most of the world economy, presiding over the development and spread of industrialization and capitalism economy, indirectly resulting in unequal development.Significant work by many other scholars has been done since then.[

Front 26

Global flows that interconnect at various points and times

Back 26

Interconnected flows

Hint 26

The global sex industry is an example of Interconnected Flows. The sex industry requires the intersection of flow of people who work in the industry with the flow of customer. STDs can also be an example because participants carry them and spread them, the diseases then branch off to other diseases around the world.

Front 27

This term describes an environment in which transactions between private parties are free from state intervention, including restrictive regulations, taxes, tariffs and enforced monopolies.

Back 27

Laissez-Faire

Hint 27

A good example is the Danish government, the Danish can smoke marijuana and are allowed open prostitution and other things that other democratic and autocratic governments could no do.

This is significant because it allows trade to happen more freeely

Front 28

All sorts of things flowing in every conceivable direction among many points of the world

Back 28

Multi-directional flows

Hint 28

An example of a multi directional flow would be how iPhones are manufactured in China and then flowed to the USA.

Front 29

An association including most countries in the western hemisphere; created in 1948 to promote military and economic and social and cultural cooperation

Back 29

OAS

Hint 29

An example would be in 2009 when the OAS suspends Honduras due to the coup which ousted president Manuel Zelaya

The OAS is significant because it is an organization that strives to achieve an order of peace and justice, to promote their solidarity, to strengthen their collaboration, and to defend their sovereignty, their territorial integrity, and their independence

Front 30

An organization composed primarily of sovereign states (referred to as member states), or of other intergovernmental organizations.

Back 30

Inter-governmental Organizations (IGOs)

Hint 30

The United Nations mission is an example of an IGO. They offer members international peace and security

Front 31

Transplanetary processes that conflict with one another

Back 31

Conflicting Flows

Hint 31

One major example of a conflicting flow would be the ongoing "war" with USA vs Al Quaeda. Al Quaeda is trying to maintain its global influence (terrorism etc) and the USA is trying to counter that influence.

Front 32

The idea that the market will take care of all of our needs.

Back 32

Market Fundamentalism

Hint 32

Example: when we were going thru the "great recession" we decided to go against "market fundamentalism" and bail out our banks.

This is significant because it outlines the idea raised by Adam Smith: that the market will care of itself and we need not interfere. This is not always true.

Front 33

Processes which while flowing in one direction, act back on their source

Back 33

Reverse Flows

Hint 33

A good example is one Dr. K brought up in class: For all the outsourcing our country does the pollution comes back to America's west coast in the form of smog.

This is significant because it describes the consequences that certain actions have. These consequences can be intended as well as unintended.

Front 34

A market in which there is no economic intervention and regulation by the state, except to enforce private contracts and the ownership of property.

Back 34

Free Market

Hint 34

An example of a free market would be cars: prices are set by supply and demand

Free markets are significant because they allow for prices to be set by supply/demand and is free of government interference which keeps prices low

Front 35

A situation in which a participant's gain or loss is exactly balanced by the losses or gains of the other participant. Basically a win/lose scenario.

Back 35

Zero Sum Game

Hint 35

An example would be in a court system two sides argue against each other for certain decisions to be made. One side typically "wins" or benefits more than the other side"

This is important because it shows the downside to trade. Sometimes not both parties win like intended.

Front 36

A system of widely shared ideas, patterned beliefs, guiding norms and values, and ideals accepted as truth by some group.

Back 36

Ideology

Hint 36

Marxism is an example of a social ideology.

Ideology is significant because ideologies define a nation; if a nation is dissatisfied, their ideologies should reflect that and become a basis for change

Front 37

A situation in which the interacting parties' aggregate gains and losses is either less than or more than zero. A win/win situation; everyone benefits

Back 37

Non-zero Sum Game

Hint 37

The US trades automobiles to the DR in exchange for sugar. Both countries believe what they are gaining is worth more than they are giving.

This is important because trade will continue to make countries interdependent and the ideal is a non-zero sum for trade, if both countries win, it makes the blending of borders more possible which leads to grater travel and collaboration of cultures

Front 38

A legally constituted non-governmental organization created by natural or legal persons with no participation or representation of any government; however it may be tied to government funding

Back 38

Non-Governmental Organizations (NGOs)

Hint 38

PETA is an organization that fights for animal rights and is not politically represented but is established as official and often communicates with the government bureaucracy and lobbying

Often, NGOs can be multi-national which play a part in globalization as countries become interdependent. These organizations work together on projects like disaster relief - which causes societies to interact. Globalization also allows the opportunity to be involved in NGOs of other countries thru easier travel, the internet, and email.

Front 39

This describes the heyday of American influence in Europe between 1945 and 1971

Back 39

Capacious Americanization

Hint 39

For example, old American television scripts are exported at different times to different parts of the world and tehy are adapted to the needs and interests of locals...thus some very early American tv shows are still broadcasted in other countries.

This is significant because although American's "heyday" of influence is over, American way of life is still spread across the globe every day

Front 40

Describes the period after 1971 when Americanization lost its dominance in Europe

Back 40

Resonant Americanization

Hint 40

Example: McDonalds still sprout up in other countries even though our "heyday" is over.

This is significant because American way of life is still being spread (consumption and love of convenience)

Front 41

The theory that the US's media is dominating less developed nations and their cultures

Back 41

Media Imperialism

Hint 41

Example: American movies have dominated less developed nations.

This is important because it spreads the "western view"

Front 42

The idea that people come to accord social processes a reality of their own and come to feel that even though they are created, there is nothing they can do about them.

Back 42

Reification

Hint 42

An example would be how jobs are being outsourced and workers feel like it is happening and they don't have any control.

This is significant because it is simply just a way of thinking, it is not the absolute truth. Globalization is a social movement and social movements can be affected by -- PEOPLE.

Front 43

an area of a country where some normal trade barriers such as tariffs and quotas are eliminated and bureaucratic requirements are lowered in hopes of attracting new business and foreign investments.

Back 43

EPZ or Export Processing Zone

Hint 43

An example of an EPZ would be The Minnesota Foreign Trade Zone #119 is located in Minneapolis, Minnesota. It gives traders the opportunity to repackage, test, assemble, or even re-export their products without ever officially being on U.S. soil and therefore subject to U.S. taxes.

EPZs are important because they help reduce the cost of global trade