Key Terms- Superpowers 2 Flashcards
Bi-polar
a world where two countries either share or compete to have the greatest global influence.
Capitalism
An economic and political system in which trade and industry are controlled by private owners for profit, rather than by the state
Capitalist Society
a culture based on an economic system of enterprise and private ownership of all parts of the system with minimal interference from governments so that economic conditions are competitive.
Colonialism
the policy or practice of acquiring full or partial political control over another country or territory, occupying it with settlers and using its resources for trade and economic gain.
Colony
a territory occupied as part of an empire.
Contested borders
national borders that are not recognised by different players because of disputed ownership of territory
Corruption
the abuse of power for private gains, usually by those who hold political power, and undermines trust and restricts freedom; the scale may vary depending on the amount of money involved.
Counterfeiting
creating an imitation or fake product or component that is significantly cheaper and inferior than the original, but breaks patent laws and seriously undermines trade in legitimate goods.
Democratic Government
a system of governing where the people have power, usually through ‘one person, one vote’ in free elections of representatives as determined by the historical development of the country
Democratic institution
a government organisation responsible for ensuring that democratic processes take place, from a parliament to the the courts of law to a government agency or department.
Deregulated financial market
the removal or reduction of rules governing financial transactions.
Deregulation
the reduction or elimination of government control or support over a part of the economy (business and industry), especially removing barriers to competition.
Development
the the process by which a country evolves over time for the better in terms of economic, social, political and sustainable change
Direct control
the imposition of power by a more powerful group, such as through military rule.
Economic restructuring
the gradual change from a manufacturing to a service sector economy following deindustrialisation
economic sanctions
Commercial and financial support for a country is withdrawn or blocked by a country or group of countries because of infringement of international laws or agreements; this may include trade barriers, tariffs, and restrictions on financial transactions. Individuals may also be specifically targeted.
Economic sovereignty
the authority to make laws governing economic operations in a country
Emerging power
a country that has rapidly increased its influence and economic position in the world.