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16 Cards in this Set
- Front
- Back
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Globalization of finance
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The increasing transnationalization of nat’l markets as capital crosses borders at increasing rates
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Realist theory
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The view that states are sovereign, unitary global actors in relentless competition w/ one another for position and prosperity in the int’l hierarchy, and that they are able to engineer policies to promote their own interests and to control conditions within their borders
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General Agreement on Tariffs and Trade (GATT)
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An int’l org affiliated w/ the UN that was designed to promote int’l trade and tariff reductions, replaced by the WTO
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Trade integration
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Economic globalization measured by the extent to which world trade volume grows faster than the globe’s combined gross domestic product
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Newly industrialized economies
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States such as Singapore and S Korea that have successfully grown into advanced industrialized societies. As wealthy countries, they are now members of the Global North and competitive players in global trade and investments, no longer in need of development assistance
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Failed states
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Countries whose gov’ts no longer enjoy support from their rebelling citizens and from displaced ppls who either flee the country or organize revolts to divide the state into smaller independent units
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Foreign direct investment (FDI)
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Purchas of stock, property, or assets in another country, w/ a goal of long-term involvement in the economy of that country
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Ethics
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Criteria for distinguishing right from wrong in assessing an actor’s behavior and the intention that animated its behavior
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Relative gains
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A measure of how much some participants in an exchange benefit in comparison to others
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Absolute gains
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A measure of the degree to which all participants in an exchange become better off
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Globalization
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According to Theodore Levitt, who coined the term ‘globalization’ in 1983 to describe the emergence of standardized, low-priced consumer products sold around the world, globalization means that “the world’s needs and desires have been irrevocably homogenized. This makes the multi-national corporation obsolete and the global corporation absolute.”
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Neoliberal theory
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A philosophy that maintains that peaceful change with prosperity can be encouraged through cooperation in institutions that knit the states and peoples of the world together into a true global community
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Human security
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A concept that refers to the degree to which the welfare of individuals is protected and advanced, in contrast to national security, which puts the interests of states first
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Cartel
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A convergence of independent commercial enterprises or political groups that combine for collective actions, such as limiting competition or setting prices for their services
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New World Information and Communication Order (NWICO)
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The controversial 1980 call by the less-developed Global South to combat what was termed “cultural imperialism” by circumscribing the news and information disseminated by the Western transnational news agencies
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Regime
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The rules agreed to by states to regulate their exchanges
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