CHAPTER 2 Flashcards

1
Q

Enumerate TRANSNATIONAL INSTITUTIONS

A

World Trade Organization (WTO)
World Bank
International Monetary Fund (IMF)
Regional Institutions

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2
Q

created on 1 January 1995, marked the biggest reform of international trade since the end of the Second World War

A

WORLD TRADE ORGANIZATION

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3
Q

is the only global international organization dealing with the rules of trade between nations

A

WORLD TRADE ORGANIZATION

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4
Q

164 member states

A

WORLD TRADE ORGANIZATION

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5
Q

organization for trade opening

A

WORLD TRADE ORGANIZATION

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6
Q

forum for governments to negotiate trade agreements

A

WORLD TRADE ORGANIZATION

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7
Q

place for them to settle trade disputes

A

WORLD TRADE ORGANIZATION

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8
Q

operates a system of trade rules

A

WORLD TRADE ORGANIZATION

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9
Q

place where member governments try to sort out the trade problems they face with each other

A

WORLD TRADE ORGANIZATION

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10
Q

conceived in 1944 during the Bretton Woods Conference with 44 representative, but created in 1945

A

INTERNATIONAL MONETARY FUND

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11
Q

foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world

A

INTERNATIONAL MONETARY FUND

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12
Q

primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other

A

INTERNATIONAL MONETARY FUND

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13
Q

fundamental mission in three ways: surveillance, lending and capacity development

A

INTERNATIONAL MONETARY FUND

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14
Q

190 member countries

A

INTERNATIONAL MONETARY FUND

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15
Q

initially formed in 1944 also during Bretton Woods Conference to aid countries suffering from the destruction of war

A

WORLD BANK

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16
Q

189 member countries

A

WORLD BANK

17
Q

is a unique global partnership working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.

A

WORLD BANK

18
Q

FIVE INSTITUTIONS OF World Bank

A

INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT

INTERNATIONAL DEVELOPMENT ASSOCIATION

INTERNATIONAL FINANCE CORPORATION

MULTILATERAL INVESTMENT GUARANTEE AGENCY

INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES

19
Q

are, in a sense, international organizations, as they incorporate international membership and encompass geopolitical entities that operationally transcend a single nation state.

A

REGIONAL INSTITUTIONS

20
Q

are special because they can affect currency values and the fiscal and monetary policies of governments, shape public perception of competitiveness, and determine the level of imports a country can afford.

21
Q

firms become exposed to new competition, which may offer new approaches, better processes, or better products and services.

22
Q

tends to be concentrated in specific sectors, where the foreign investors believe they are able to contribute the best and benefit the most from their investment.

A

Foreign direct investment

23
Q

As a result, some individuals and policymakers may grow concerned about dependency on foreign owners, even though firm proof for the validity of such concern has been difficult to establish.

A

Foreign direct investment

24
Q

The word policy implies that there is a coordinated set of continuous activities in the legislative and executive branches of government to attempt to deal with U.S. international trade

A

POLICY RESPONSES TO Trade Problems

25
Q

Unfortunately, such concerted efforts only rarely come about.

A

POLICY RESPONSES TO Trade Problems

26
Q

Policy responses have consisted mainly of political ad hoc reactions, which over the years have changed from deep regret to protectionism.

A

POLICY RESPONSES TO Trade Problems