CONTEMP Flashcards
What does it mean to other scholars?
for economist
they would look to changing patterns in international trade and commerce
What does it mean to other scholars?
•For historians
they would look if whether or not globalization is a modern phenomenon
•What does it mean to other scholars?
For political scientists,
they would focus on impact of the forces of globalization
•Globalization is brought about by changes in technology and the political, cultural, and economic aspects of human existence.
TIME: 1980
Agency/Domain:”Internationalization of the State”, INGO’s Keywords: Competitor states, post international politics, Global civil Society
political science
Trade is the oldest and most important economic nexus among nations. Indeed, trade along with war has been central to the evolution of international relations.
who stated this?
robert gilpin
Birth of World Bank
Birth of World Bank
Jul 1944
Birth of International Monetary Fund
Dec. 1945)
Birth of General Agreement on Tariffs and Trade
oct. 1947
axis powers
Italy, Germany, and Japan
Allied powers
USA, UK, France, and USSR
grants long-term loans for the economic development of less developed countries and war-torn countries
THE WORLD BANK
two institutions of world bank
International Bank for
Reconstruction and Development (IBRD) - for middle and low-income countries
b. International Development Association (IDA)
IBRD STANDS FOR?
international Bank for revonstruction and development
IDA STANDS FOR?
INTERNATIONAL DEVELOPMENT ASSOCIATION
for middle and low-income countries
(bank)
International Bank for reconstruction and development
for lowest-income countries
(bank)
international development association
Globalization involves “broadening and deepening of interdependence among people and states”
who stated this?
theodore cohn
Defined economic globalization as “a process making the world economy an ‘organic system’ by extending transnational economic processes and economic relations to more and more countries by deepening the economic dependencies among them”
who stated this? Defined economic globalization as “a process making the world economy an ‘organic system’ by extending transnational economic processes and economic relations to more and more countries by deepening the economic dependencies among them”
tamas szentes
kapag mataas ang pera mas mataas ang huhulog
which orgs is this?
world bank and imf
World Bank and IMF: its money came from its members, they base it on their quota and economic position.
IMF was founded when?
1945
PURPOSE: promote global monetary cooperation and international financial stability
● Rates of currencies were related to gold and
U.S. Dollar ($)
imf
Provide short-term loans to prevent
devaluation and retain the state’s fixed exchange rate in instances of the temporary balance of payment deficits
● Prevents the devaluation of the money of countries (basis: gold and US dollar, as in 1945, babangon pa lang mundo sa giyera, kaya sa US)
imf
Most money comes from its members who contribute based on their size and economic position
● Does not matter if maunlad o hindi
● Short-term loans: dependent on the agreement of the country and that of the IMF (e.g., 5 years, 15 years, 20 years) depending on the capacity
of the state
○ 190 member countries
○ Total of 707 billion SDR or US $1 trillion
(Special Drawing Rights)
imf
Agreement to avoid trade wars by raising protectionist barriers - a strategy of a country to limit exports or imports products para hindi sumobra at hindi mag-hord ng produkto ang isang bansa, to provide opportunities for other countries who have the same products as well na i-export
what org
gatt
general agreement on tariffs and trade
reformed institution from gatt
world trade organization
differences of gatt and wto
in wto - agreements are permanenr
gatt - pagusapan lang
differences of gatt and wto in terms of members Agreement to avoid trade wars by raising protectionist barriers - a strategy of a country to limit exports or imports products para hindi sumobra at hindi mag-hord ng produkto ang isang bansa, to provide opportunities for other countries who have the same products as well na i-export
differences of gatt and wto in terms of membership
gatt - contracting parties
wto - member countries
gatt, It was less powerful, dispute settlement system was slow and less efficient and its ruling could be blocked
true or false
true
wto, It was less powerful, dispute settlement system was slow and less efficient and its ruling could be blocked
true or false
false
WTO is more powerful, mechanism faster and more efficient and difficult to block the rulings
true or false
true
Birth of world bank
july 1944
Birth of International monetary fund
dec. 1945
Birth of general agreement on tariffs and trade
oct 1947
how many countries are part of the brettwood conference?
44
Axis powers are?
Italy, germany and japan
allied powers are
usa
france
uk
ussr
who stated this, Globalization involves “broadening and deepening of interdependence among people and states”
Theodore cohn
who states this, Defined economic globalization as “a process making the world economy an ‘organic system’ by extending transnational economic processes and economic relations to more and more countries by deepening the economic dependencies among them”
Tamas Szentes
One of the factors for a country to become interdependent
True or false
True
grants long-term loans for the economic development of less developed countries and war-torn countries
What is stated?
The world bank
two institutions of World bank
It has two (2) institutions
a. International Bank for
Reconstruction and Development (IBRD) - for middle and low-income countries
b. International Development Association (IDA) - for lowest-income countries
■ Both has the power to provide loans
■ High-income countries are not allowed
what world bank institution, for middle and low-income countries
IBRD
International Bank for Reconstruction and Development
what world bank institution, for lowest-income countries
IDA
International Development Association
Three characteristics of The World Bank
IFC
International Finance Cooperation
MIGA
Multilateral Investment Guarantee Agency
ICSID
International Centre for Settlement of Investment Disputes
Three characteristics of The World Bank
IFC
International Finance Cooperation
MIGA
Multilateral Investment Guarantee Agency
ICSID
International Centre for Settlement of Investment Disputes
Intensification of worldwide social relations which link distance localities in such a way that local happenings are shaped by events occurring many miles away and vice versa.”
Who stated this?
Anthony Giddens
Globalization, “Refers both to the compression of the world and
the intensification of consciousness of the world as a whole.”
Who stated this
William Robinson
Globalization
“Compression of time and space annihilation of
distance”
who stated this?
David Harvey