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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

Economic Liberalism

a belief in the possibility of cooperation to realize common gain, liberalism

Free Trade

borders constrain to maximum efficiency of exchange

comparative advantage

each state should specialize in making the good it produces best compared to other states

nontariff barriers

quotas, subsides, regulations

GATT

General Agreement on Tariffs and Trade, preceded the WTO

WTO

world trade organization

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

GSP

Globalized system of preferences, rich states give trade concessions to poor states

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.

cartel

association of producers or consumers that manipulate a product's price on the world market

mixed economies

mixture of private and state-owned industries

hard currency

money that can be readily converted into leading world currencies

fixed exchange rates

governments decide to establish rates of exchange

floating exchange rates

rates are determined by the global currency markets

managed float system

national governments will intervene in financial markets to manipulate their currencies value

discount rate

interest rate the government charges when it loans money to private banks

Bretton Woods System

established the World Bank

IMF

International Monetary Fund

SDR

Special Drawing Right, "paper gold" is created in limited amounts by the IMF and held as hard currency reserves by states' central banks

balance of payments

summarizes all the flows of money into and out of the country

fiscal policy

government decisions about spending and taxation

monetary policy

decisions about printing and circulating money

supranational organization

they subsume a number of states and their functions within a larger whole

international norms

the expectations actors hold about normal international relations

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

UN Secretariat

Administration/ executive branch of the UN

When was UN founded?

1945 in San Francisco

UNCTAD

UN Conference on Trade and Development

WHO

World Health Organization

International Integration

process by which supranational institutions replace national ones- the gradual shifting upward of sovereignty from state to regional or global structures

Neofunctionalism

economic integration generates a political dynamic that drives integration further

security community

low expectation of violence among the states of Western Europe which allowed positive feelings to grow

Treaty of Rome

1957, created Euratom and the European Community (EC)

Euratom

the European Atomic Energy Community

customs union

a unified set of tariffs on goods coming from outside the free trade area

common market

member states allow labor and capital to flow freely across borders

common agricultural policy (CAP)

first attempt by EU to establish a common market

European Commission

identify problems and propose solutions to European Council

Council of the European Union

meeting of relevant ministers from each member states that attempt to control the bureaucrats

European Parliament

watch dog over Commission with some power to legislate

European Court of Justice

in Luxembourg, adjudicates disputes on matters covered by the Treaty of Rome

Maastricht Treaty

renamed the EC as the EU. Furthered progress in monetary unity, european police agency, expanded idea of citizenship, political and military integration

Sources of International Law

treaties, custom, general principles of law, and legal scholarship

World Court

formally the International Court of Justice, branch of UN, only states can sue or be sued

diplomatic recognition

the process by which the status of embassies and that of an ambassador as an official state representative are explicitly defined

just wars

international theory that defines when wars can be justly fought

UDHR

universal declaration of human rights

R2P

responsibility to protect, governments worldwide must act to save civilians from genocide or crimes against humanity perpetrated or allowed by their own governments

ICRC

International Committee of the Red Cross, practical support to civilians caught in wars and to POWs.

developing countries

the global South

subsistence farming

rural communities have grown their own food

migration

movement between states, usually North-South

refugee

person fleeing war, natural disaster, or political persecution

resource curse

resource rich countries risk for corruption and inequality and the price fluctuation of the export

neocolonialism

the continuation, in a former colony, of colonial exploitation without formal political control

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

enclave economy

foreign capital is invested in a third world country to extract a particular raw material in a particular place

NIC

newly industrialized countries

"four tigers"

South Korea, Taiwan, Hong Kong, and Singapore

import substitution

the development of local industries to produce goods that a country has been importing

export-led growth

develop industries that can compete in certain niches of the world economy

technology transfer

poor state's acquisition of technology

brain drain

skilled workers leave poor areas for wealth countries

IMF Conditionality agreement

the IMF loan has the requirement that changes be made by the state's government

DAC

Development Assistance Committee

bilateral aid

aid directly from state-to-state

multilateral aid

aid through UN or other agencies

Oxfam America

major private charitable group, Oxfam provides funding to local organizations to help a community help itself