Unit 1 Chapter 5

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Global North

Back 1

A term used to refer to the world's wealthy, industrialized countries located primarily in the Northern hemisphere.

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Global South

Back 2

A term now often used instead of third world to designate the less developed countries located primarily in the southern hemisphere.

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Indigenous Peoples

Back 3

The native ethnic cultural inhabitant population within countries referred to as the fourth world.

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Third world

Back 4

The Cold War term to describe the less developed countries of Africa, Asia, the Caribbean, and Latin America.

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First world

Back 5

The relatively wealthy industrialized countries that share commitment to varying forms of democratic political institutions and developed market economies, including the United States, Japan, the European Union, Canada, Australia, and New Zealand.

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Second world

Back 6

During the Cold War, the group of countries, including the Soviet Union, its eastern European allies, and China, that embraced communism and central planning to propel economic growth.

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Small Power

Back 7

Countries with limited political, military, or economic capabilities and influence.

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Emerging powers

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Countries with rising political and economic capabilities and influence that seek a more assertive role in international affairs.

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Decolonization

Back 9

The process by which sovereign Independence was achieved by Country that were once colonies of the great powers.

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Mercantilism

Back 10

A government trade strategy for accumulating state wealth and power by encouraging exports and discouraging imports

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Classic liberal economy theory

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A body of thought based on Adam Smith's ideas about the forces of supply and demand in the marketplace, emphasizing the social and economic benefits when individuals pursue their own self-interest.

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Laissez-faire economics

Back 12

The philosophical principle of free market and free trade to give people free choice with little government regulation.

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Communism

Back 13

The Marxist ideology maintaining that if society is organized so that every person produces according to his or her ability and consumes according to his or her needs, a community without class distinctions will emerge, sovereign states will no longer be needed, and imperial wars of colonial conquest will vanish from History.

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Realpolitik

Back 14

The theoretical outlook prescribing that Country should increase the power and wealth in order to compete with and dominate other countries.

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Self-determination

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The liberal doctrine that people should be able to determine the government that will rule them.

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Developing countries

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The category used by the World Bank to identify low-income Global South Country with an annual GNI or below $1,045 and middle-income countries with an annual GNI per capita of more than 1045 but less than 12746.

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Gross national income GNI

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A measure of the production of goods and services within a given time period, which is used to the limit the geographic scope of production. GNI measures production by a States citizens or companies, regardless of where the production occurs.

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Developed countries

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A category used by the World Bank to identify Global North Country with an annual GNI per capita of $12,746 or more.

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Least developed of the less developed countries or ll DC's

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The most impoverished countries in the Global South

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Development

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The processes, economic and political, through which a country develops to increase its capacity to meet Citizens basic human needs and raise their standard of living.

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Modernization

Back 21

A view of development popular and the Global North Liberal democracies the wealth is created through efficient production, free enterprise, and free trade, and it Country relative wealth depends on technological innovation and education more than on natural endowment such as climate and resources

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Import substitution industrialization

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A strategy for economic development that Center on providing investors at home incentives to produce goods so that previously imported products from abroad will decline.

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Export led industrialization

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The growth strategy that concentrates on developing domestic export industries capable of competing in overseas markets.

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Multinational corporation or mnc

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Business enterprise is headquartered in one state that invest and operate extensively in many other states.

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Dualism

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the separation of a country into two sectors, the first modern and prosperous that's so the separation of a country into two sectors, the first modern and prosperous and centered in major cities, and the second at the margin, neglected and poor.

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Newly industrialized countries or nic

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The most prosperous members of the Global South, which have become important exporters of manufactured goods as well as important markets for the major industrialized countries that export capital goods.

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Communications technology

Back 27

The technological means through which information and communications are transferred.

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Digital divide

Back 28

The division between the Internet technology rich Global North and the Global south in the proportion of Internet users and hosts.

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Information technology

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The techniques for storing, retrieving, and disseminating through computerization and the internet recorded data and research knowledge.

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Group of 77 or g-77

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The coalition of third world countries that sponsor the 1963 joint declaration of developing countries calling for reform to allow greater equality in north-south trade.

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New international economic order or nieo

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The 1974 UN policy resolution that called for a north-south dialogue to open the way for the less developed countries of the Global South to participate more fully in the making of international economic policy.

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Foreign aid

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Economic assistance in the form of loans and grants provided by donor Country to recipient country for a variety of purposes.

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Bilateral

Back 33

Interactions between two transnational actors.

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Official development assistance Oda

Back 34

Grants or loans to Country from donor Country, now usually channel through multilateral aid institutions such as the World Bank for the primary purpose of promoting economic development and welfare.

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Remittances

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The money earned by immigrants working in rich countries that they sent to their families and their home country.

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Foreign direct investment or FDI

Back 36

The cross-border investment through which a person or corporation based in one country purchases or construction assets such as a factory or Bank in another country so that a long term relationship and control of an enterprise buy non residents results.