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Prelims > CONTEMP REVIEWER > Flashcards

CONTEMP REVIEWER Flashcards

1
Q

“Diversification and globalization
are the keys to the future.”

A

Fujio Mitarai

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2
Q

“Too often we participate in the
globalization of indifference. May we
strive instead to live global solidarity.”

A

Pope Francis

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3
Q

Globalization refers to the expansion
and intensification of social relations
and consciousness across world-time
and world-space. It is a multi-
dimensional phenomenon involving
economics, politics, culture, ideology,
environment, and technology.

A

Manfred B. Steger

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4
Q

It is the increasing economic
interdependence of national economies
across the world through a rapid
increase in cross- border movement of
goods, services, technology, and
capital.

A

Economic globalization

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5
Q

It is the transmission of ideas, meanings,
and values around the world in such a
way as to extend and intensity social relations

A

Cultural Globalization

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6
Q

it is the growth of the worldwide
political system, and its institutions in
size and complexity

A

Political Globalization

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7
Q

It accounts for the idea of considering
planet Earth as a single global entity – a common good all societies should protect since the weather affects everyone and we are all protected by the same atmosphere.

A

Ecological Globalization

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8
Q

Basic Features of Globalization

A
  1. Trade and Transactions
  2. Capital and Investment Movements
  3. Migration and Movement of People
  4. Dissemination of Knowledge
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9
Q

Forces of Globalization

A
  1. High Competition
  2. Increase in Consumer Demand
  3. Reduction in Cross-trade Barriers
  4. Advancement of Technologies
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10
Q

-it is an ideology based on the belief
that people, information, and goods
should be able to cross national
borders unrestricted.
-The idealogical component of globalization.

A

Globalism

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11
Q

-It is the spread of technology,
products, information, and jobs
across nations.

A

Globalization

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12
Q

Established the 1944
190 member countries

A

IMF (INTERNATIONAL MONETARY FUND)

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12
Q

works to stabilize the system and help countries facing balanced of payment and debt crises.

A

IMF (INTERNATIONAL MONETARY FUND)

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13
Q

-Established 1945
-189 member countries

A

WORLD BANK

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14
Q

Founded to help reconstruct postwar Europe, it now provides loans and policy advice to developing countries.

A

WORLD BANK

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15
Q

-Established 1948, as the General Agreement on Tariffs and Trade (GATT)
-164 member countries

A

WORLD TRADE ORGANIZATION

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16
Q

Bulwark of Western security alliance

A

NATO (NORTH ATLANTIC ORGANIZATION )

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17
Q

Sets rules for international trade and adjudicates trade disputes.

A

WORLD TRADE ORGANIZATION

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18
Q

-It involves increasing interconnection
between people and regions
throughout the world.

A

Globalization

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19
Q

According to him, different kinds of globalization occur on multiple and intersecting dimensions of intersections which he calls “scapes” such as ethnoscapes, mediascape, technoscape and ideoscape

A

Arjun Appadurai

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20
Q

For ________ (2014), economic globalization can thus have several interconnected dimensions such as the following:
1. The globalization of trade of goods and services;
2. The globalization of financial and capital markets;
3. The globalization of technology and communication; and
4. The globalization of production

A

Benczes

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21
Q

-is a historic process, the result of human innovation and technological progress. It refers to the increasing integration of economies around the world through the movement of goods, services, and capital across borders. The term sometimes also refers to the movement of people (labor) and knowledge (technology) across international borders (as cited by Benczes, IMF 2008).

A

economic globalization

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22
Q

To ________, it is a process making the world economy an “organic system” by extending transnational economic processes and economic relations to more and more countries and by deepening the economic interdependence among them.

A

Szentes (2003)

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23
Q

To________, globalization began since homo sapiens began from migrating from the African continent to populate the rest of the world.

A

Grills and Thompson (2001)

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23
Q

who considered the Silk Road (Asia, Europe, Africa) the best example for archaic globalization 5,000 years ago.

A

Frank and Grills (1993)

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24
Q

considered the discovery of America by Christopher Columbus in 1492 and the discovery of the direct sea route to India by Vasco de Gama in 1498 as the two (2) greatest achievements of human history.

A

Adam Smith (1776)

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25
Q

According to ______, if global economy did exist during 1500 to 1800, it was only in the sense of trade and exchange rather than production. Countries were mostly self-sufficient and autarkic, the UK and the Netherlands being the only exceptions.

A

Gereffi (2005)

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26
Q

According to________, the real breakthrough came only in the 19th century. The annual average compound growth rate of world trade saw a dramatic increase 4.2 per cent between 1820 to 1870, and was relatively high, at 3.4 per cent between 1870 and 1913.

A

Maddison (2001)

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27
Q

According to historians __________, the age of globalization began when “all important populated continents began to exchange products continuously and its values sufficient to generate crucial impacts on all trading partners.” They traced this back in 1571 with the establishment of galleon trade that connected Manila in the Philippines and Acapulco in Mexico. This was the first time the Americas were directly connected to Asian trading routes (as cited by Claudio and Abinales, 2018).

A

Dennis Flynn and Arturo Giraldez

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28
Q

According to Salvatore (2007), ___________ refers to rules, customs, instruments, facilities, and organizations for effecting international payments.

A

international monetary system

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29
Q

According to _______, international monetary system refers to rules, customs, instruments, facilities, and organizations for effecting international payments. In the liberal tradition, the main task of IMS is to facilitate cross-border transactions involving trade and investment.

A

Salvatore (2007)

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30
Q

To ______, IMS is, however, more than just money or currencies; it also reflects economic power and interests as money is inherently political, an integral part of high politics of diplomacy.

A

Cohen (2000)

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31
Q

It refers to an entity created by treaty, involving two or more nations, to work in good faith, on issues of common interest.

A

International governmental organizations

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32
Q

It include charities, non-profit advocacy groups, business associations, and cultural associations.

A

International non-governmental
organizations (NGOs)

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33
Q

Many businesses now have international supply chains, favoring manufacturing in low-cost countries. Some engage in international outsourcing to low-wage countries, which involves the contracting out of a business process and operational, and/or non-core functions to another party.

A

Businesses

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34
Q

4 Global Factors

A

IGO
NGO
Businesses
Migrants

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35
Q

International ______ transfer significant amounts of money through remittances to lower-income relatives.

A

Migrants

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36
Q

tends to increase at a much greater rate than the growth in world trade, helping boost technology transfer, industrial restructuring, and the growth of global companies

A

Foreign Direct Investment (“FDI”)

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37
Q

Increased competition from globalization helps stimulate new technology development,
particularly with the growth in FDI, which
helps improve economic output by making
processes more efficient

A

Technological Innovation

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38
Q

Globalization enables large companies to realize economies of scale that reduce costs and prices, which in turn supports further
economic growth, although this can hurt many small businesses attempting to compete domestically

A

Economies of Scale

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38
Q

Globalization leads to the interdependence between nations, which
could cause regional or global instabilities if
local economic fluctuations end up impacting
a large number of countries relying on them.

A

Interdependence

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39
Q

Some see the rise of nation-states, multinational or global firms and other international organizations as a threat to sovereignty. Ultimately, this could cause some leaders to become nationalistic or xenophobic

A

National Sovereignty

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40
Q

It is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product (GDP).

A

INTERNATIONAL TRADING SYSTEM

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40
Q

The benefits of globalization can be unfairly skewed towards rich nations or individuals, creating greater inequalities and leading to potential conflicts both nationally and internationally as a result

A

Equity Distribution

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41
Q

The ________ agreement established a new
global monetary system. It replaced the gold standard with the U.S. dollar as the global currency.

A

1944 Bretton Woods

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42
Q

The _______collapsed in the 1970s but created a lasting influence on international currency exchange and trade through its development of the IMF and World Bank

A

Bretton Woods System

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43
Q

*It is a monetary system where a country’s currency or paper money
has a value directly linked to gold.

A

THE GOLD STANDARD

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44
Q

a term to describe currency that is used because of a government’s order, or
fiat, that the currency must be accepted as a means of payment.

A

fiat money

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45
Q

Member countries needed it to
bail them out if their currency values got too low. Each member of the Bretton Woods
system agreed to contribute to a fixed pool of national currencies and gold to be held by the IMF. They were then entitled to
borrow what it needed, within the limits of its contributions.

A

IMF

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46
Q

*The gold standard was completely replaced by ______

A

fiat money

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47
Q

both known for their strong belief in free-market capitalism

A

Friedrich Hayek and Milton Friedman

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48
Q

It was set up to lend to the
European countries devastated
by World War II. Now the
purpose of the ______ is to
loan money to economic
development projects in
emerging market countries.

A

WORLD BANK

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49
Q

A broadly neoliberal policy has seen a widening inequality of both wealth and income in the Western world.

A

Monopoly and monopsony power

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50
Q

Critics argue that advocating the use of free
markets in areas, such as health and education is misplaced because by
nature these are public services, which are not subject to the same profit
motivation.

A

Market fundamentalism

51
Q

Government intervention in economies distort the proper functioning of the market. Critics labelled this thinking as ________

A

neoliberalism

51
Q

It is a policy model—bridging politics, social studies, and economics—that seeks to transfer control of economic factors to the private sector from the public sector. It tends towards free-market capitalism and away from government spending, regulation, and public ownership.

A

neoliberalism

52
Q

(e.g. speculative, hot money) from capital deregulation have not necessarily helped economic development, but instead have contributed to increased financial instability, which has caused wider economic shocks, e.g. post 2007 credit crunch

A

The growth of financial flows

53
Q

What year?

  • Trend was toward a freer flow of capital across
    borders
  • Liberalization of capital markets , where funds
    for investment can be borrowed.
A

1970s

54
Q

Globalization has impacted nearly every aspect of modern life and continues to be a growing force in the global economy.

A

THE BOTTOM LINE

55
Q

In 2004, the _________raised the fed funds rate just as the interest rates on these new mortgages reset.

A

Federal Reserve

55
Q

An important problem for neoliberalism is that policies which may work in one country doesn’t necessarily work in all countries.

A

One size fits all.

56
Q

It refers to the period of extreme stress in global financial markets
and banking systems between mid 2007 and early 2009.

A

THE GLOBAL FINANCIAL CRISIS (GFC)

57
Q

The ________ was primarily caused by deregulation in the financial industry.

A

financial crisis

58
Q

It is the fusing of markets into one

A

Market Integration

59
Q

Globalization took off

A

1820

60
Q
  • long distance trade existed for centuries
  • Driven buy growing population and income.
  • Created a demand for new products.
A

First Millenium BC

61
Q

It means that the price
differences between
countries are eliminated
as all markets become
one.

A

Global Market Integration

62
Q
  • Global economy was highly
    integrated
  • Unprecedented flows of capital, goods and labor across borders
A

Eve of World War I

63
Q
  • Technological change helped
    integrate markets because of steam
    powered transport invention.
A

19th century Onwards

64
Q
  • Governments imposed tariffs which
    were intended to switch the demand
    for domestically produced goods.
A

Great Depression of the 1930s

65
Q
  • Enacted in the United States which
    raised tariffs on imported goods.
  • Tariffs reduced demand for foreign
    goods
A

Smoot-Hawley Tariff

66
Q
  • Markets are more integrated as transportation
    cost have continued to fall
  • Most tariffs have been scrapped altogether
A

End of the 20th Century

67
Q

_________ revolution -
steamship
-railroads
- invention of refrige

A

Transport

68
Q

-slashed the journey time between
Europe and Asia

A

Opening of Suez Canal

69
Q

Price differences started to close –up because of :

A
  1. Transport revolution
  2. Opening of Suez Canal
70
Q

is a group of 27 countries that operates as a cohesive economic and political block

A

European Union (EU)

71
Q

It governs common economic, political, social and security policies of its member states

A

European Union (EU)

72
Q

27 member countries

A

Austria
Belgium,
Bulgaria
Croatia
Cyprus
Czech Republic,
Denmark
Estonia
Finland
France
Germany,
Greece
Hungary
Ireland
Italy
Latvia
Lithuania
Luxembourg, Malta, Netherlands,
Poland, Portugal, Romania, Slovakia, Slovenia,
Spain, and Sweden

73
Q

plays important roles in diplomacy,
the promotion of human rights, trade,
development and humanitarian aid and
working with multilateral organisations

A

EU

74
Q

is the official currency in 19 European countries, 13 of which belong to the EU.

A

Euro

75
Q

Three bodies run the EU

A

The EU Council
The Parliament
The European Commission

76
Q

-represents national governments
-gets the second read on all laws and can accept the Parliament’s position, thus adopting the law.

A

The EU Council

77
Q

-gets the first read of all laws the Commission proposes. Its members are elected every five years.
- elected by the people

A

EU PARLIAMENT

78
Q

-proposes new legislation. The commissioners serve a five year term
-is the EU staff. They make sure all
members act consistently in regional, agricultural, and social policies.

A

European Commission

79
Q

In ______, the concept of a European trade area was first established.

A

1950

79
Q

In 1957, the ______ established a
common market.

A

Treaty of Rome

80
Q

The European Coal and
Steel Community had six founding members:

A

Belgium, France, Germany, Italy, Luxembourg, and the Netherlands

81
Q

established the European Union common market.

A

Treaty of Maastricht

82
Q

It is the study of the policies that states have regarding interactions with each other. It involves the interconnectedness of politics, economics and law on a global level.

A

INTERNATIONAL RELATIONS

83
Q

It refers to the growth of the worldwide
political system, both in size and complexity

A

POLITICAL GLOBALIZATION

83
Q

increased the powers of the European Parliament. It gave the EU the legal authority to negotiate and sign international treaties.

A

Treaty of Lisbon

84
Q

It explores the deepening of interactions
between states

A

Internationalization

85
Q

It encompasses a multitude of
connections and interactions that cannot
be reduced to the ties between
governments

A

Globalization

86
Q

It denotes a region of land defined by
geographical features or political
boundaries.

A

COUNTRY

87
Q

It is a stable community of people, formed on the basis of a common
language, territory, economic life, ethnicity or psychological make
up manifested in a common culture

A

NATION

88
Q

A compulsary political organization with a centralized government that maintains a monopoly of the legitimate use of force within a certain geographical territory; it refers to a country and its government.

A

STATE

89
Q

It is a geographical area belonging
to or under the jurisdiction of a
governmental authority.

A

Territory

90
Q

It is the full right and power of a
governing body over itself, without
any interference from outside
sources or bodies; internal and
external authority

A

Sovereignty

91
Q

It sets and administers public policy
and exercises executive, political and
sovereign power through customs,
institutions, and laws within a state

A

Unity of Organization
or Government

92
Q

It refers to the whole number of
people or inhabitants in a country or
region

A

Population | Citizenry

93
Q

It is a political principle which transcends
nationalism and advocates a greater political or economic cooperation among nations and people.

A

Internationalism

94
Q

It is a foreign policy doctrine that argues that liberal states should intervene in other sovereign states in order to pursue liberal objectives.

A

Liberal Internationalism

95
Q

It is the perception of all communist revolutions as
being part of a single global class struggle rather
than separate localized events.

A

Socialist Internationalism

96
Q

It holds that all states are defined through their relationship to other states or through participation in the world economy, and that divisions between
states help to divide the world into a core
(industrialized capitalist countries), periphery and semi-periphery

A

Interstate System

97
Q

it was a system of dispute resolution adopted by the major conservative powers of Europe to maintain their power, oppose revolutionary movements, weaken the forces of nationalism, and
uphold the balance of power.

A

Concert of Europe/ Congress System

98
Q

It is the principle of international law that each nation state has exclusive sovereignty over its territory.

A

Westphalian System

99
Q

An intergovernmental organisation founded on 10 January 1920 as a result of the Paris Peace Conference that ended the First World War. It was the first international organisation whose principal mission was to maintain world peace. Its primary goals, as stated in its Covenant, included preventing wars through collective security and disarmament and settling international disputes
through negotiation and arbitration.

A

LEAGUE OF NATIONS

100
Q

is the practice of
communication and
negotiation between
representatives of states.

A

DIPLOMACY

101
Q

The allotment of economic and/or
diplomatic benefits such as the
European Union’s enlargement
policy; candidate countries are only
allowed to join if they meet the
Copenhagen criteria.

A

ALLOTMENT OF BENEFITS

102
Q

The mutual exchange of ideas,
information, art, music, and
language among nations through
cultural diplomacy has also been
recognized by governments as an
important tool in the development
of international relations.

A

Cultural diplomacy

103
Q

attempting to alter states’ actions at
the international level. This is
mostly done by the large human
rights NGOs such as Amnesty
International, or Human Rights
Watch.

A

Naming and shaming

104
Q

are usually a first resort after the
failure of diplomacy, and are one
of the main tools used to enforce
treaties. They can take the form of
diplomatic or economic sanctions
and involve the cutting of ties and
imposition of barriers to
communication or trade.

A

Sanctions

105
Q

the use of force, is often thought of
as the ultimate tool of international
relations; It is a state of armed
conflict between states, societies
and informal groups, such as
insurgents and militias. It is
generally characterized by extreme
aggression, destruction, and
mortality, using regular or irregular
military forces.

A

WAR

106
Q

It is a movement towards political
cooperation among transnational
actors aimed at negotiating
responses to problems that more
than one state or region experience.

A

Global Governance

107
Q

*AUGUST 1941
*PRESIDENT ROOSEVELT AND PRIME MINISTER
CHURCHILL
*PRINCIPLES OF WAR AND PEACE
*ESTABLISHMENT OF A WIDER AND PERMANENT
SYSTEM OF GENERAL SECURITY

A

ATLANTIC CHARTER

108
Q

The Big Three
1. President Roosevelt
2. Prime Minister Churchill and
3. Premier Stalin - approved the proposals drafted at the
Dumbarton Oaks Conference as a basis for drawing –up the Constitution of the United Nations.

A

Yalta Conference in Crimea (Feb 1945)

109
Q

Blueprint for a better world
organization than the League of
Nations

A

Dumbarton Oaks , Washington D. C.

110
Q

Main deliberative organ of the
United Nations.
Place where all member countries
meet on equal terms to consider the
problems of the world before it.

A

The General Assembly

111
Q

The agency that can make important
decisions and take decisive action for
the Charter places upon it the
responsibility of maintaining peace and
security

A

The Security Council

112
Q

-seeks to build a world of prosperity,
stability and justice.
-It makes studies, reports and
recommendations on international
economics , social, cultural ,educational,
health and related matters and also with
respect to human rights and fundamental
freedom for all.

A

The Economic and Social Council

113
Q

Supervises and administers trust
territories

A

The Trusteeship Council

114
Q

 The principal judicial organ of the United
Nations which sits at the Hague in
Netherlands

A

International Court of Justice

115
Q

It performs the extensive
administrative function of the
United Nations.

A

The Secretariat

116
Q

Is the principal judicial organ of the United Nations. It settles legal disputes
between states and gives advisory opinions to the UN and its specialized agencies. Its Statute is an integral part of the United Nations Charter

A

INTERNATIONAL COURT OF JUSTICE

117
Q

It was established to help ensure that trust territories were administered in the
best interests of their inhabitants and of international peace and security.

A

UN TRUSTEESHIP COUNCIL

118
Q

It carries out the day-to-day work of the Organization. It services the other
principal organs and carries out tasks as varied as the issues dealt with by the UN:
administering peacekeeping operations, surveying economic and social trends,
preparing studies on human rights, among others

A

UN SECRETARIAT

119
Q

It is a stable set of norms and rules meant to govern the behavior of states and other actors in the international system.

A

INTERNATIONAL ORGANIZATION

120
Q

is the whole network of:-
-International organizations
– Treaties and
– Conventions
that were created by the United
Nation

A

United Nations System

121
Q

5 SECURITY COUNCIL

A

CHINA
UK
US
RUSSIA
FRANCE

121
Q

It refers to institutions that coordinate the behavior of
transnational actors, facilitate cooperation, resolve disputes,
and alleviate collective action problems.

A

GLOBAL GOVERNANCE

122
Q

Is the principal organ to coordinate the economic, social and
related work of the UN and the specialized agencies and
institutions

A

UN ECONOMIC AND SOCIAL COUNCIL

123
Q

It has primary responsibility for the maintenance of
international peace and security

A

UN SECURITY COUNCIL

124
Q

is an International organization founded in 1945 after
the Second World War by 51 countries committed to:
§ Maintaining international peace and security
§ Developing friendly relations among nations
§ Promoting social progress
§ Better living standards and
§ Human rights.

A

UNITED NATIONS

Prelims (5 decks)

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