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TCW_PRE-LIM Flashcards

1
Q

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

A

Economic Globalizaton

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2
Q

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).

A

Internatonal Trading Systems

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3
Q

It was
succeeded by the World Trade Organization (WTO) in 1995.

A

General Agreement on Tariffs and Trade (GATT).

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4
Q

Means selling of goods and services out of the country.

A

Export Trade

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4
Q

The creation of the _________ was
considered as the biggest change in international trading system since the end of the World War II.

A

World Trade Organization

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5
Q

Means importing goods from one country and exporting it to another country after adding value to it.

A

Entrepot Trade

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5
Q

Means goods and services flowing into the country.

A

Import trade

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6
Q

Refers to exchange of goods and services between countries.

A

International Trade

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7
Q

Types of International Trade

A

Export Trade
Import Trade
Entrepot Trade

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7
Q

Disadvantages of International Trade

A

O- Over dependence
U- Unfair to new companies
T- Threat to National Security
P- Pressure on natural resources

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8
Q

Advantages of International Trading

A

C- Comparative Advantage
C- Competition
T- Transfer of Technology
M- More job creation

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8
Q

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.
A

World Bank

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9
Q

Needs of International Trade

A

P- Price
Q- Quality
A- Availability
D- Demand

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10
Q

Its mission is to ensure the stability of the international monetary system.

A

International Monetary Fund (IMF)

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10
Q

The process increasing involvement in international.

A

Internationalization

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10
Q

World Bank is also known as the _____________________.

A

International Bank for Reconstruction and the Development

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10
Q

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 ___________________

A

Internationalization

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10
Q

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.

A

Global Governance

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10
Q

International Monetary Fund does in Three Ways:

A

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

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11
Q

The study of the contemporary world is not just about the globalization of economy but also of governance.

A

The Global Interstate System

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11
Q

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.

A

Global Politics

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11
Q

Interaction of modern states with one another on the global system. This led the shifting from international politics to “global politics.”

A

Interstate system

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11
Q

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.

A

The United Nations

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11
Q

It is the system of heightened interaction between states with the desire for greater cooperation and unity

A

Internationalism

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11
Q

Disadvantages of Globalization

A

E- Economic Inequality
C- Cultural Homogenization
E- Environmental Degradation
J- Job Displacement
L- Loss of Sovereignty

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11
Q

Are institutions with formal procedure and membership comprising three or more states
-They are characterized by rules that seek to regulate the relations amongst member states and by formal structure that implements and enforces these rules.

A

International Organizations

11
Q

Kyle, for whatever unfortunate events happened to you, always remember that you learned from it,

DO NOT BE DISCOURAGE

A

For Jesus is not letting you to be discourage. He wants you to succeed.

11
Q

2 kinds of Cultural

A

Cultural Diversity
Cultural Enrishment

11
Q

As of now, The United Nations has _____ Member
States which are all members of the General Assembly.

A

193 Member

11
Q

To harness the benefits of globalization, while mitigating its drawbacks, it is essential for nations to implement policies that promote equitable growth, protect cultural heritage, and ensure environmental sustainability. International cooperation and governance play critical roles in addressing the challenges posed by globalization ensuring that its advantages are widely shared.

A

Balancing Globalization

11
Q

The process of increasing interconnectedness and interdependence among countries

A

Globalization

11
Q

2 kinds of Economic Growth

A

Market Expansion
Investment Opportunities

11
Q

2 kinds of Global Cooperation

A

Political Collaboration
International Standards

11
Q

2 kinds of Technological Advancement

A

Innovation sharing
Access to technology

11
Q

Advantages of Globalization

A

E- Economic Growth
T- Technological Advancement
C- Cultural
I- Improved Standards of living
G- Global Cooperation

11
Q

2 kinds of Improved standards of living

A

Low Prices
Variety of Goods

12
Q

Exposure to different cultures fosters greater understanding and appreciation of diversity.

A

Cultural Diversity

12
Q

Companies can expand their markets beyond their own borders, leading to increased sales and profits.

A

Market Expansion

13
Q

Globalization attracts foreign direct investment, which can spur economic development and job creation in developing countries.

A

Investment Opportunities

14
Q

Countries and companies can share technological innovations, leading to advancements in various sectors such as healthcare, agriculture, and manufacturing.

A

Innovation Sharing

15
Q

Developing countries gain access to cutting-edge technologies, improving productivity and quality of life.

A

Access to Technology

16
Q

The spread of art, music, cuisine, and traditions enhances the cultural experiences of people worldwide.

A

Cultural Enrichment

17
Q

Countries work together to tackle global challenges such as climate change, terrorism, and pandemics.

A

Political Collaboration

17
Q

Increased competition and efficiency in production lower the cost of goods and services.

A

Low Prices

18
Q

Consumers have access to a wider variety of products from different parts of the world.

A

Variety of Goods

19
Q

Establishment of global standards in areas like human rights, environmental protection, and labor practices.

A

International Standards

20
Q

2 kinds of Economic Inequality

A

Widening Gap
Exploitation

21
Q

2 kinds of Cultural Homogenization

A

Loss of cultural Identity
Cultural Monotony

22
Q

2 kinds of Environmental Degradation

A

Resource Exploitation
Pollution and Climate Change

23
Q

2 kinds of Job Displacement

A

Outsourcing
Labor Exploitation

24
Q

2 kinds of Loss of Sovereignty

A

Economic Dependence
Policy Constraints

25
Q

The benefits of globalization are often unevenly distributed, leading to greater disparities between wealthy and poor countries and within countries.

A

Widening Gap

26
Q

Dominance of certain cultures, especially Western culture, can erode local traditions and languages.

A

Loss of Cultural Identity

27
Q

Global brands and media can lead to a loss of cultural diversity, making cultures around the world more similar

A

Cultural Monotony

28
Q

Multinational corporations may exploit labor and resources in developing countries, leading to poor working conditions and environmental degradation.

A

Exploitation

29
Q

Global industrial activities contribute to ____________, affecting ecosystems and human health.

A

Pollution and Climate Change

30
Q

Increased demand for resources can lead to overexploitation and environmental harm.

A

Resource Exploitation

31
Q

Workers in developing countries may face low wages and poor working conditions as companies seek to minimize costs.

A

Labor Exploitation

32
Q

Jobs in developed countries may be outsourced to countries with cheaper labor, leading to unemployment and wage stagnation in certain sectors.

A

Outsourcing

32
Q

Global trade agreements and organizations can limit the ability of nations to enact policies that protect their own interests.

A

Policy Constraints

33
Q

Countries may become economically dependent on multinational corporations and international financial institutions.

A

Economic Dependence

34
Q

Godbless, Kyle! You can do it!

A

Jesus is always with you.

35
Q
A

Reviewers (9 decks)

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