13 final Flashcards
Globalism
philosophy which regard the entire world as one giant community that should be unified politically and economically
United Nations (UN)
a global organization whose original purpose was the promotion of world peace and economic prosperity
world banks
an organization originally established to lend money to battle-torn Japan and Western Europe after WWII; presently acts as a welfare agency that lends funds to countries in poverty or financial distress; consists of two institutions, the International Bank for Reconstruction and Development and the International Development Association
World Trade Organization (WTO)
an agency that purposes to assist the free flow of trade among nations, help countries establish free trade through negotiations, and resolve trading conflicts; this organization is an outgrowth of the General Agreement on Tariffs and Trade
General Agreement on Tariffs and Trade
regulations that guided international trade before the WTO’s establishment in 1995
North American Free Trade Agreement
regional trade agreement adopted by the United States, Canada, and Mexico in 1993
European Union (EU)
a closely knit alliance of the countries of the Western Europe that controls many of the region’s economic, legislative, and judicial policies; modern descendant of an organization originally established to encourage free trade
National Sovereignty
the exclusive power of an independent state to rule and regulate internal affairs without foreign interference
UN is composed of
- general assembly
- security council
- economic and social council
General Assembly
a principle agency of the UN in which representatives from member countries meet to discuss international problems and recommend plans of action
Security Council
agency of the UN, composed of five permanent and ten elected member countries, which is ultimately responsible for determining if and when peacekeeping troops move into an area troubled by conflict or natural disasters
Economic and Social Council
agency of the UN whose duties are to study economic and social problems and to make recommendations to individual nations, the General Assembly, and other UN agencies
International Bank for Reconstruction and Development (IBRD)
institution of the World Bank that focuses on middle-income countries
International Development Association (IDA)
institution of the World Bank that focuses on the world’s poorest countries
International Monetary Fund (IMF)
organization originally established to impartially monitor the value and exchange of national currencies; the IMF presently finances governments, provides funds for national development, and advises nations on how to run their economies
