CONTEMP WORLD Flashcards
NAFTA
NORTH AMERICAN FREE TRADE AGREEMENT
GATT
GENERAL AGREEMENT ON TARIFFS AND TRADE
WTO
WORLD TRADE ORGANNIZATION
IMF
INTERNATIONAL MONETARY FUND
GDP
GROSS DOMESTIC PRODUCT
G7
GROUP OF 7
WB
WORLD BANK
FDI
FOREIGN DIRECT INVESTMENT
SDRs
SPECIAL DRAWING RIGHTS
EU
EUROPIAN UNION
It is a term used to describe the changes of societies and the world economy that are the result of dramatically increase trade and cultural exchange
GLOBALIZATION
Element of globalization is the expansion of world trade through the elimination or reduction of trade barriers, such as import of tariffis
INTERNATIONAL TRDAE
Engaging in protectionism generates adverse consequences for a country that undertakes such a policy
RESTRICT INTERNATINAL TRADE
They concluded that since 1980, globalization has contributed to a reduction in poverty as well as a reduction in global income inequality
INTERNATIONAL MONETARY FUND
These ancient road connect Asia, Europe and Africa, is an example of the transformative power of global exchange
SILK ROAD
This global movement aimed at eliminating trade boundaries and promoting globalization
FREE TRADE MOVEMENT
This conference enable the leaders to agree in the foundation of the United Nations after the 2nd world war
YALTA CONFERENCE
It is a period in our history that the Soviet Union and the United States divided the world into a bipolar system
COLD WAR
Basic institutions and public facilities upon which an economy’s development depends.
INFRASTRACTURE
Sense of national consciousness that boosts the culture and interest of one country over those of all countries
NATIONALISM
Refers to the increases in the market potential, trade and investment potential and resource accessibility
ECONOMIC GLOBALIZATION
Which was movement aimed at eliminating trade boundaries and promoting globalization
NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA)
The united states established a radio network during the cold era which was known as
VOICE OF AMERICA (VOA)
TWO EFFECTS OF GLOBALIZATION
GLOBAL MARKET OPPURTUNITIES
GLOBAL MARKET THREATS
REFERS TO THE INCREASES IN MARKET POTENTIAL, TRADE AND INVESTMENT POTENTIAL AND RESOURCE ACCESSIBILITY
GLOBAL MARKET OPPURTUNITIES
CAN BE DESTRUCTIVE TO FIRM PERFORMANCE DUE TO AN INCREASING NUMBER OF COMPETITORS AND AND AN INCREASE IN INTENSITY OF COMPETITION COUPLED WITH HIGHER MARKET.
GLOBAL MARKET THREATS
POLITICAL STRUCTURE OF A CONUTRY MAY ALSO JEOPARDIZE A FOREIGN PRODUCERS SUCCESS IN INTERNATIONL TRADE
POLITICAL STRUCTURE
central of any society is the common set of values shared by its citizens that determine what is social acceptable.
CULTURAL DIFFERENCES
level of economic development varies considerably, ranging from countries where everyday survival is a struggle.
ECONOMIC ENVIRONMENT
THE SIX CORE CLAIMS OF GLOBALIZATION
- GLOBALIZATION IS ABOUT THE LIBERATION AND GLOBAL INTEGRATION OF MARKETS
- GLOBALIZATION IS INEVITABLE AND IRREVERSIBLE
- NOBODY IS IN CHARGE OF GLOBALIZATION
- GLOBALIZATION BENEFITS EVERYONE
- GLOBALIZATION FURTHERS THE SPREAD OF DOMOCRACY IN THE WORLD
- GLOBALIZATION REQUIRES WAR ON TERROR
both a body of economic theory and policy stance . It claims that a largely unregulated capitalism system.
NEOLIBERALISM
refers to the interconnected worldwide economic activities that take place between multiple countries.
GLOBAL ECONOMY
considered to be an impact of globalization .
INTERNATIONAL TRADE
Money can be transferred at a faster rate between countries compared to goods, services, and people; making finance one of the primary features of global economy
INTERNATIONAL FINANCE
Refers to an investment strategy that is not constrained by geographical boundaries.
GLOBAL INEVESTMENT
BENEFITS OF GLOBAL ECONOMY
- FREE TRADE
- MOVEMENT OF LABOR
- INCREASED ECONOMIES OF SCALE
- INCREASED INVESTMENT
Is an excellent method for countries to exchange goods and services
FREE TRADE
Increased migration of the labor force is advantageous for the recipient country as well as for the workers.
MOVEMENT OF LABOR
Specialization of goods production in most countries has led to advantageous economic factors.
INCREASED ECONOMIES OF SCALE
it has become easier for countries to attract short-term and long-term investment.
INCREASED INVESTMENT
refers to the world being a highly fragile ecological system.
ENVIRONMENT DIMENSION
Shows the relationship of the firm market.
MARKET INTEGRATION
basic types of market integration
- HORIZONTAL INTEGRATION
- VERTICAL INTEGRATION
- CONGLOMERATION
the modern world system is now a global economy with a global political system.
GLOBAL INTERSTATE SYSTEM
is a macro-scale approach to analyzing the world history of the mankind and social changes in different countries.
WORLD SYSTEM THEORY
appears to be the powerful, wealthy and highly independent of outside control
CORE NATIONS
is an international organization dedicated to providing financing, advice, and research to developing nations to aid their economic advancement.
WORLD BANK
EIB
EUROPEAN INVESTMENT BANK
IDB
INTER-AMERICAN DEVELOPMENT BANK
ADB
ASIAN DEVELOPMENT BANK
IFAD
INTERNATIONAL FUNDS FOR AGRICULTURAL DEVELOPMENT
is an international organization that promotes global economic growth and financial stability, encourages international trade, and reduce poverty
INTERNATIONAL MONETARY FUND
