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Definition
-identifies threats of peace and security; deploys sanctions or military use to combat threats
- members can veto general body; general assembly has one vote per person
- 5 members: US, Russia, France, UK, China
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Term
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Definition
| when UN deploys its troops to area to help until ceasefire or peace agreement happens |
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Definition
| ability for one country or firm to produce a good relatively cheaper than another country or firm. Actors should specialize in one product to maximize efficiency. This in turn will make both countries willing to trade |
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Term
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Definition
| Countries will export the goods and services that they are well endowed in, and trade for goods and services that they are lacking |
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Definition
- World Trade without any government intervention (like tarrifs, quantatitative limits, etc)
- Governments want to have some in-country goods being purchased
- Consumer wins (cheaper, more competition)
- companies having to compete with foregin goods get hurt |
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Term
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Definition
Imposition of barriers to restrict imports.
3 main: Tarrifs, import quotas, dumping legislation (further protection).
Winners: consumers, foreign companies
Losers: workers, home based corporations |
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Term
| Trade Regime (WTO, Reprocitiy, MFN) |
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Definition
WTO - organization established in 1995 to govern international trade. Encourages policies for unilateral trade and oversees resolutions of trade dispute
Reprocitity - Mutual agreements between nations to lower trade barriers
MNF - most favored nation. status of country, that they will recieve equal trading advantages of other nations |
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Term
| Foreign Investment: Portfolio Investment, FDI, soverign lending |
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Definition
Portfolio Investment - investing into equities of firms in other countries (no managerial control of firm)
FDI - Foreign Direct Investment-Investing directly into firm, or building firm, in other country (has managerial control of company)
Soverign lending - lending of assets from one soverign nation to another |
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Term
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Definition
International Monetary Fund - intergovernment insitution that oversees montetary relations between countries.
If country going into debt, IMF will try to loan it cheap laons.
Works directly with Governments to solve debt crisis.
Can cause hardships on debtor nations - making them cut food and gas and other expenses |
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Term
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Definition
Foreign Direct Investment - multinational corporations: corporations that operates in multiple nations.
MNC bring in technology and jobs into countries |
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Term
| Brentton Woods Fixed Exchange Rate |
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Definition
| System used to try to rebuild after WWII. All exchange rates tied to U.S. Dollar and gold standard. Collapse because of disagreement within nations, plus constrained US economy |
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Term
| Fixed Exhange Rate; gold standard; floating exchange rate |
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Definition
Fixed: country's currency is matched to value of another country's currency (or gold)
Gold Standard: Countries tied currency value to fixed price of gold
Floating: Currency's value fluctuates by market value |
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Term
| Exchange Rates Change; world currency markets |
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Definition
| Rates change due to supply and demand of market; Interest rates and currency markets encourage foreign investment |
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Term
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Definition
Value of Currency appreciates: less exports, more imports in a company
Value of Currency goes down: exports up, imports down |
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Term
| Underdevelopment Problems |
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Definition
Interconnected Problems-
poverty
low education
lack of access to clean water
bad healthcare
Infrastructure and Governance are two problems |
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Term
| Narrow Interests, Democracy, Economic Development |
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Definition
| - Small powerful actors captured by narrow interests, bad for overall economic development and democracy (diamond mining) |
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Term
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Definition
| Those countries with lots of natural resources are often very poor because natural resources can be easily exploited and can lead to corruption |
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Term
| Colonialism and Dependence Theory |
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Definition
| Colonialism brought wealthy countries to exploit the resources from poor nations. When wealthy countries left, they continued to exploit the resources from their old colonies - who are poor and depend on their former colonial powers. Core group of wealthy countries exploit developing countries |
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Term
| Development strategies (ISI, autarchy, EOI, regionalism, cartels) |
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Definition
ISI - Import Substituting Industrialization: group of policies that encouraged domestic manufacturing
Autachy - Quest for complete self-sufficiency
EOI - Import led industrialization: set of policies used by some East Asian countries to manufacture to export
regionalism - attempts to make economic groupings in the 3rd world
cartels- control supply of a commodity to raise its world price |
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Term
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Definition
Cartels - complete control over supply of commodity (bananas, cocoas, etc). In order to raise world prices.
Fail: Prisoners dilema, too much incentive to cheat in cartels (joint with others)
OPEC - oil cartel works because there is no economic substitute for oil and every country needs oil |
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Term
| Human Rights and International Bill of Rights |
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Definition
Human Rights - rights of people regardless to their nationality or citizenship or any group right.
Human Rights - issue after WWII (genocide and autracities of WWII) |
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Term
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Definition
States sign HR bills: get legitimacy and help from other powerful nations. Show support for democracy, lock-in practices
States can't fight HR: failed states, HR voilationed in name of national security
States help other states with HR issues: feel "pressure" from international community, have self-interest in state |
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Term
| Human Rights innovations (individual petition, universial jurisdiction, ICC) |
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Definition
Individual petition - makes it harder for states to block cases that they do not want to hear/may lose
Universal Jurisdiction - countries have right to prosecute anyone under crimes against humanity
ICC - international criminal court: prosecutes everyone (even world leaders) if they are a member of the court. over 100 members |
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Term
| collective action and environmental problems |
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Definition
Environmental problems are a global issue. Problems often cross countries. Difficult because no one wants to bare the burden of the economic expenses to pay for the clean up, especially since there is difference in exchange rates, etc.
Global NGOs help |
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