Chapter 13- A Look at the Global Economy Flashcards
a philosophy which regards the entire world as one giant community that should be unified politically and economically
globalism
one of the main goals of globalism is to
unite the world’s numerous economic systems into a single network controlled by various international bodies
one of the most prominent global bodies is the
United nations (UN)
a principal agency of the UN that meets at least once a year to discuss international problems, each member country has one vote regardless of size
cannot pass laws, but can decide how much UN should spend on assortment of projects
General Assembly
principle agency of the UN that make decisions concerning UN involvement in national and international conflicts;
control UN peacekeeping troops
Security Council
principle agency in UN that studies economic and social problems and makes recommendations to the General assembly, individual nations, and the UN’s special agencies
Economic and Social Council
created by the UN and first established at the end of WWII to lend money to Japan and other Western European countries for reconstruction
World Bank
as the need for reconstruction in war torn areas diminished, this was transformed into a type of international welfare agency that lends funds to some of the world’s poorest countries
World Bank
today, the World Bank consists of two institutions:
International Bank for Reconstruction and Development (focuses on the middle-income countries)
International Development Association (focuses on the world’s poorest countries)
the exclusive power of an independent state to rule and regulate internal affairs without foreign interference
national sovereignty
the US has voluntarily surrendered much of its national sovereignty through _______________ agreements
multilateral (involve more than two nations)
the US should work to obtain free trade the traditional way–
negotiating with one nation at a time
globalists say that _______________________ have a moral obligation to provide financial aid for the __________________
industrially advanced countries (IACs)
less developed countries (LDCs)
a gathering of national leaders who met to plan the world’s financial system for the post WWII era
where the World Bank and the IMF both have their origins
Bretton Woods Conference
the belief that the general temperature of the earth and its oceans is being harmed due to pollution and greenhouse gases
global warming
