TCW_PRE-LIM Flashcards
is the 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 interdependencies among them
Economic Globalizaton
The origin of global trade can be traced since the early days of the Chinese Silk Road to
the creation of the General Agreement on Tariffs and Trade (GATT).
Internatonal Trading Systems
It was
succeeded by the World Trade Organization (WTO) in 1995.
General Agreement on Tariffs and Trade (GATT).
Means selling of goods and services out of the country.
Export Trade
The creation of the _________ was
considered as the biggest change in international trading system since the end of the World War II.
World Trade Organization
Means importing goods from one country and exporting it to another country after adding value to it.
Entrepot Trade
Means goods and services flowing into the country.
Import trade
Refers to exchange of goods and services between countries.
International Trade
Types of International Trade
Export Trade
Import Trade
Entrepot Trade
Disadvantages of International Trade
O- Over dependence
U- Unfair to new companies
T- Threat to National Security
P- Pressure on natural resources
Advantages of International Trading
C- Comparative Advantage
C- Competition
T- Transfer of Technology
M- More job creation
Is also known as the International Bank for Reconstruction and the Development
- Its primary purpose is to provide long-term loans for the economic development of developing countries and reconstruction of those affected countries caused by the war.
World Bank
Needs of International Trade
P- Price
Q- Quality
A- Availability
D- Demand
Its mission is to ensure the stability of the international monetary system.
International Monetary Fund (IMF)
The process increasing involvement in international.
Internationalization
World Bank is also known as the _____________________.
International Bank for Reconstruction and the Development
With the emergence of the study of international relations, interactions among various actors in international stage have become relevant in the academic realm. The expanding of these interactions paved the way to the phenomenon known as ___________________
Internationalization
Is the sum of laws, norms. policies, and institutions that define, constitute and mediate trans-border relations between states, cultures, citizens, intergovernmental and non-governmental organizations and the market-the wielders and the object of the exercise of international public order.
Global Governance
International Monetary Fund does in Three Ways:
K- Keeping track of the global economy and the economies of the member countries
L- Lending to countries with balance of payments difficulties
G- Giving practical help to members
The study of the contemporary world is not just about the globalization of economy but also of governance.
The Global Interstate System
The occurrence of problems and issues such as climate change, terrorism, and pandemic
-has become global in nature and eventually affect all the states.
-This has led the states and other non-state actors to cooperate and addressing these concerns.
Global Politics
Interaction of modern states with one another on the global system. This led the shifting from international politics to “global politics.”
Interstate system
is the primary international organization responsible to maintain
international peace, cooperation and security.
-As of now, it has 193 Member
States which are all members of the General Assembly.
The United Nations
It is the system of heightened interaction between states with the desire for greater cooperation and unity
Internationalism
Disadvantages of Globalization
E- Economic Inequality
C- Cultural Homogenization
E- Environmental Degradation
J- Job Displacement
L- Loss of Sovereignty
