General Topics

Question 1

Globalization

Answer 1

the increasing interconnectedness of people, cultures, economies, and nations facilitated by technology, trade, and cultural diffusion

Question 2

International Monetary Fund

Answer 2

international organization that fosters global monetary cooperation, reduces poverty, and provides financial stability

Question 3

The World Bank

Answer 3

international organization that provides financial assistance to developing countries to reduce poverty and promote sustainable development

Question 4

The World Trade Organization

Answer 4

international organization that promotes free trade (trade liberalization), negotiate trade agreements, and promote globalization and development in all countries (mostly developing) (SUPRANATIONAL ORG)

Question 5

Rents

Answer 5

an amount of money earned that exceeds that which is economically or socially necessary and is typically consolidated by elite

Question 6

Remittance

Answer 6

funds sent by migrants working around the world to family members in their home countries (prominent in Mexico)

Question 7

Rentier State

Answer 7

a country that obtains most of its revenue from exported oil and other natural resources. (IRAN, NIGERIA)

Question 8

Disadvantages of Globalization

Answer 8

1. Increased Competition
2. Disproportionate Growth (“Developed VS “Undeveloped”)
3. Environmental Concerns (Wealth prioritized over nature)

Question 9

Supranational

Answer 9

a multinational political and/or economic union where member nation-states cede some authority to a collective body {exercises sovereignty}

Question 10

Rentier State Theory

Answer 10

• economic and political theory
• refers to countries whose income comes mainly by exporting raw materials or leasing out natural resources to foreign countries
• only seen as “only good for one thing”
• IRAN and NIGERIA have considerable oil reserves, but the prosperity has not trickled down
• democratization has trouble taking root

Question 11

Resource Curse

Answer 11

• lack of economic diversification
• concentration of gov. resources on developing the one profitable export industry that causes the exclusion of other industries

Question 12

MNC

Answer 12

Multi-National Corporations are for-profit enterprises that conduct business in more than one country

Question 13

Why MNCs?

Answer 13

one of the most significant forms of non-state actor in world politics (significant economic and political influence)

Question 14

MNC Pros

Answer 14

• promote global economy
• provide investment to other countries
• creates jobs internationally
• encourages the development of infrastructure
• introduces new technology
• creates access to the world market

Question 15

MNC Cons

Answer 15

• serve to decapitalize other countries
• creates inequality through income disparity
• exploit poor workers, communities, and countries
• creates dependence
• stifle domestic innovation and economic activity