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69 Cards in this Set
- Front
- Back
mercantilism |
each state must protect its own interests at the expense of others, realist |
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Economic Liberalism |
a belief in the possibility of cooperation to realize common gain, liberalism |
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Free Trade |
borders constrain to maximum efficiency of exchange |
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comparative advantage |
each state should specialize in making the good it produces best compared to other states |
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nontariff barriers |
quotas, subsides, regulations |
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GATT |
General Agreement on Tariffs and Trade, preceded the WTO |
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WTO |
world trade organization |
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most-favored nation (MFN) |
trade restrictions imposed by a WTO member on its most-favored trading partner must be applied equally to all other WTO member states |
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GSP |
Globalized system of preferences, rich states give trade concessions to poor states |
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Doha Round |
trade ministers met in Doha, Qatar to discuss negotiations but no agreements were made. focused on agricultural subsides, intellectual property, and other issues. |
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cartel |
association of producers or consumers that manipulate a product's price on the world market |
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mixed economies |
mixture of private and state-owned industries |
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hard currency |
money that can be readily converted into leading world currencies |
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fixed exchange rates |
governments decide to establish rates of exchange |
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floating exchange rates |
rates are determined by the global currency markets |
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managed float system |
national governments will intervene in financial markets to manipulate their currencies value |
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discount rate |
interest rate the government charges when it loans money to private banks |
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Bretton Woods System |
established the World Bank |
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IMF |
International Monetary Fund |
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SDR |
Special Drawing Right, "paper gold" is created in limited amounts by the IMF and held as hard currency reserves by states' central banks |
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balance of payments |
summarizes all the flows of money into and out of the country |
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fiscal policy |
government decisions about spending and taxation |
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monetary policy |
decisions about printing and circulating money |
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supranational organization |
they subsume a number of states and their functions within a larger whole |
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international norms |
the expectations actors hold about normal international relations |
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UN Charter |
based on idea that states are equal under international law, states have full sovereignty, full independence and territorial integrity, states should carry out international obligations |
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UN Secretariat |
Administration/ executive branch of the UN |
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When was UN founded? |
1945 in San Francisco |
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UNCTAD |
UN Conference on Trade and Development |
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WHO |
World Health Organization |
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International Integration |
process by which supranational institutions replace national ones- the gradual shifting upward of sovereignty from state to regional or global structures |
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Neofunctionalism |
economic integration generates a political dynamic that drives integration further |
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security community |
low expectation of violence among the states of Western Europe which allowed positive feelings to grow |
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Treaty of Rome |
1957, created Euratom and the European Community (EC) |
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Euratom |
the European Atomic Energy Community |
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customs union |
a unified set of tariffs on goods coming from outside the free trade area |
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common market |
member states allow labor and capital to flow freely across borders |
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common agricultural policy (CAP) |
first attempt by EU to establish a common market |
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European Commission |
identify problems and propose solutions to European Council |
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Council of the European Union |
meeting of relevant ministers from each member states that attempt to control the bureaucrats |
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European Parliament |
watch dog over Commission with some power to legislate |
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European Court of Justice |
in Luxembourg, adjudicates disputes on matters covered by the Treaty of Rome |
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Maastricht Treaty |
renamed the EC as the EU. Furthered progress in monetary unity, european police agency, expanded idea of citizenship, political and military integration |
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Sources of International Law |
treaties, custom, general principles of law, and legal scholarship |
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World Court |
formally the International Court of Justice, branch of UN, only states can sue or be sued |
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diplomatic recognition |
the process by which the status of embassies and that of an ambassador as an official state representative are explicitly defined |
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just wars |
international theory that defines when wars can be justly fought |
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UDHR |
universal declaration of human rights |
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R2P |
responsibility to protect, governments worldwide must act to save civilians from genocide or crimes against humanity perpetrated or allowed by their own governments |
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ICRC |
International Committee of the Red Cross, practical support to civilians caught in wars and to POWs. |
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developing countries |
the global South |
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subsistence farming |
rural communities have grown their own food |
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migration |
movement between states, usually North-South |
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refugee |
person fleeing war, natural disaster, or political persecution |
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resource curse |
resource rich countries risk for corruption and inequality and the price fluctuation of the export |
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neocolonialism |
the continuation, in a former colony, of colonial exploitation without formal political control |
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dependency theory |
marxist-oriented, lack of capital in poor countries as a result of interplay between domestic class relations and the forces of foreign capital |
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enclave economy |
foreign capital is invested in a third world country to extract a particular raw material in a particular place |
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NIC |
newly industrialized countries |
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"four tigers" |
South Korea, Taiwan, Hong Kong, and Singapore |
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import substitution |
the development of local industries to produce goods that a country has been importing |
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export-led growth |
develop industries that can compete in certain niches of the world economy |
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technology transfer |
poor state's acquisition of technology |
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brain drain |
skilled workers leave poor areas for wealth countries |
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IMF Conditionality agreement |
the IMF loan has the requirement that changes be made by the state's government |
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DAC |
Development Assistance Committee |
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bilateral aid |
aid directly from state-to-state |
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multilateral aid |
aid through UN or other agencies |
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Oxfam America |
major private charitable group, Oxfam provides funding to local organizations to help a community help itself |