9.4 Flashcards
Economy in the Global Age
Ronald Reagan
US leader who advocated for market-oriented economic policies like tax cuts and government assistance for the poor
Margaret Thatcher
Great Britain leader who advocated for market-oriented economic policies like tax cuts and government assistance for the poor
economic liberalization
the opening up of a country’s economy and trade
free markets
Economic systems based on supply and demand with little government intervention
Augusto Pinochet
US backed ruler of Chile who killed a bunch of people and died before he could be killed by his people
Deng Xiaoping
Chinese communist leader who somewhat opened Chinese markets and promoted economic growth
Tiananmen Square
peaceful student-led demonstration in China advocating for free speech that was violently defeated by the government and resulted in the deaths of hundreds
knowledge economy
an economy that creates, distributes, and uses knowledge and information
Asian Tigers
Asian states that followed Japan’s economic model- Singapore, Hong Kong, South Korea, and Taiwan
NAFTA
North American Free Trade Agreement between the US and Mexico
maquiladoras
factories of Canadian companies in Mexico because it was cheaper to manufacture there
Mercosur
South American economic country-wide organization
Association of Southeast Asian Nations (ASEAN)
Asian economic country-wide organization
General Agreement on Tariffs and Trade (GATT)
international treaty that lifted restrictive barriers to trade
Protective tarriffs
tarriffs on imported goods
World Trade Organization (WTO)
organization that took over GATT’s job and governs most of international trade
multinational corporation
a company that is legally in one country but makes or sells goods in other countries
Microsoft
multinational tech company that invested in the Indian economy
multinational tech company that invested in the Indian economy
Mahindra & Mahindra
Indian multinational company that produces cars, farm equipment, and military vehicles and has little connection to any one country so their standards are essentially as lax as they want
Nestle
Swiss multinational company that is the largest food cooperation in the world, faces many controversies
