International Politics Chapter 5

Globalization can be looked as

"contested concept"

(19th-20th century) second wave

Africa, Asia, and the Pacific

what countries were the key players in imperialism (17th-18th century) first wave

British, French, Dutch, and the Spanish

Townsmen were called

Burghers in German speaking states. They became the new middle class. Also known as the bourgeoisie

First-Third Worlds

First World: capital-rich countries of the North Third World: capital-poor countries of the South

GNI( Gross National Income)

GNP-indirect (like sales and excise) business taxes

GDP( Gross Domestic Product)

GNP-returns on foreign investment since the latter is a measure of foreign, rather than domestic production

Similar efforts to have tight control over the internet (countries)

Iran, Cuba, Saudi Arabia and Vietnam

(14th-15th century) trading cities Venice and Bruges were once called

Italy and Beligum

American Steel lost its business to

Japan

MITI

Ministry of International Trade

North-South

North: advanced-industrial or postindustrial, high-income countries and societies generally in northern hemisphere South: less industrially developed, lower-income countries and societies generally in the Southern hemisphere

In 1933

Saudi Government signed a concessionary agreement with Standard Oil of California allowing the company to begin exploration

Adam Smith(1723-1790)

Scottish political economist. wrote the book The Wealth Of Nations(1776) . argued that national wealth in capitalism was not to be found in the treasure that accured in treasury vaults; rather wealth was to be found in the productive capacity of the economies. (Liberal view)

Japan lost the American Steel business to

South Korea

What countries made economic gains in 2008?

South Korea, Taiwan, Singapore, and BRIC countries

GNP (Gross National Product)

a country's annual output of goods and services, calculated as the sum of consumption investment, government spending, exports-imports

China has constructed

a great fire wall

U.S. is considered

a high income country

worm

a piece of software that infects control systems-may work its way into computer networks.

Imperialism

a position or policy of preemience or dominance vis-a-vis foreign elements as in the establishment of colonies or by virtue of the capabilities a great power has over less powerful states, perhaps in the form of economic, social, or cultural imperialism

Interdependence

a situation in which actions and events in one state affect people in other states, and some assumes some degree of reciprocal effect.

Liberal core to civil society

access to social media, internet and cell phones locally and globally

Somalia, Egypt, Pakistan, Brazil

all are "Americanized" and wear NY yankees baseball caps and t-shirts

China, Monogolia and African Democratic Republic of Congo

all possess tantalum

World Bank

an IO created in 1944, currently designed to be a source of financial and technical assistance to developing countries around the world

cartel

an association among financial, commodity-producing or industrial interests including states, for establishing a national or international market control, setting production levels, and increasing or stabilizing the prices of such diverse products as oil, tin and coffee.

European Union

an economic and political partnership between 27 European countries designed to ensure peace, stability, and prosperity by helping to raise living standards and progressively building a single Europe-wide market

Capitalism

an economic system, forum of political economy or mode of production that emphasizes money, market-oriented trade, capital investment for further production, and a set of values or culture legitimating investment and market oriented behaviors

Iran's Green Movement (2009)

anti-regime protest. Austin Heap developed anti-censorship software

David Ricardo (1772-1823)

classical political economist/ English writer argued that free trade allowed for national specialization in accordance with comparative advantage. favored the new middle class

Free trade

commerce unobstructed by tarrifs quotas or other barriers to entry

IMF (International Monetary Funds)

created in 1944 charged with overseeing the international monetary system to ensure exchange rate stability and encouraging members to eliminate exchange restrictions that hinder trade

WTO( World Trade Organization)

created in 1995 mission: is to reduce barriers to trade

The 1648 Peace of Westphalia

ended the Thirty Years War concluded that the religious of the inhabitants would be up to the princes or temporal authority

In 1938

first major oil reserves were discovered

Karl Marx (1818-1883)

focused on exploitative character of class relations. Smith referred to class as "various orders"

OEEC (Organization for Europen Economic Cooperation)

formed in 1948 in Paris in the aftermath of World War II. (U.S. assistance under the Marshall plan)

OECD( Organization for Economic Cooperation and Development )

formed in 1961 replaced OEEC.18 members + U.S. and Canada

comparative advantage

free-trade principle that countries tend to specialize in producing those goods and services for export in which they are most efficient, leading to a global specialization or division of labor that maximizes aggregate productivity

European feudalism

hands of landing owning aristocrats

Global Competition

has led to the collapse of certain industries as cheaper labor is available elsewhere or as companies simple move their production to lower-cost companies

Less developed countries have

high birth rates, limited capacity

International Liquidity

international bail out. helping states with insufficent foreign cash reserves by making short-term loans, enabling them to balance their books in event of a shortfall in foreign currency reserves or other monetary assets.

Greek culture

is considered to be a well spring of values that have spread through the Western World

Japanese economy

is in private hands

Western Materialism

is seen as undermining religious faith and turning young people away from the mosque and church

Political Economy

is the intersection of politics in relation to trade, money, finance, and investment. The flow of capital across national borders.

Factor of Production

land (including natural resources)- labor and capital components essential to the production of goods and services

United States

least generous

Foreign direct investments

money invested in countries aside from one's town U.S. was #1 coming in at 1.86 billion. China was #2 coming at 100 billion.

Sweden

most generous( also owns widespread of private ownership of small/large well known firms like Volvo and Saab

Capital formation

new and continuing investment in capital goods for production and consumption

Max Weber

observed how the emergence of capitalism was also accompanied by a new set of social values supportive by market-oriented trade and monetary activities

Alarmist refer to a possibility

of a "digital Pearl Harbor" a surprise highly destructive attack

Global governance

of trade depends upon coordination and collaboration by governments and private sector interest that cross national borders

protectionism

policies favoring a country's industries, agriculture, or other producers by imposing tariffs or quotas on imports, subsidizing production, and erecting other barriers to free trade

"Beggar-thy-neighbor "

policies, protectionism, and competitive devaluation policies resulted in an enormous reduction in the volume of trade during the 1930's . each country strove to avoid purchasing other countries' exports

Cyber war

politically motivated computer network hacking designed to conduct sabotage or espionage

Capital goods

refers to goods used in the production of other goods and services. (i.e. machinery tools in a factory)

Neocolonialism

relations of economic, social, cultural and even political dominance by a former colonial ruler of a new independent state

(cujus regio ejus religo)- Latin

religion of the inhabitants will be up to the ruler

Patterns of Life

repeated human behavior

Capital

savings that can be used for investment in the means of producing goods and services

Regimes

set of rulers and associated IO's that have been constructed by states to coordinate, manage, or regulate relations in a particular issue area.

GATT( General Agreement on trade and tariffs)

signed in 1947 and lasted until 1993 when it was replaced by WTO.

Competitive Devaluations

since devaluations reduce the export price of goods +services to purchases in foreign currencies, some countries may devalue their currencies , merely to gain an unfair competitive advantage.

Social Network Analysis

software designed to place individuals in the context of their social network and hence discern personal ties and relationships

The 15th- and 16th century Protestant Reformation

split Christendom in Western Europe along the new state lines as warring Princes choose either Protestant or Catholic professions of faith

Mercantilism

the concept that national wealth is a function of the amount of gold and other accumulated treasure-present day neomercantilist policies pursued by some states trying to maximize trade surpluses accumulating large monetary-reserve balances

Globalization

the continual increase in transnational and worldwide economic, social, and cultural interactions that transcend the boundaries of states and the resultant political implications. These interactions are aided by advances in technology.

Mode of Production

the form of political economy associated with the production of goods and services at different historical periods. (used in Marxist understanding of ancient slavery feudalism)

Toledo

the imperial capital of Spain

Trade Integration

the level of a country's participation in world's market through trade

Labor Theory of Value

the value of what is produced is the result of labor put into production process.

White collar computer jobs are migrating

to Asia

Technology

transportation, finance, and communication advances

fixed exchange rates

under Brent Woods "manage flexibility" a system in which the value of a country's currency, in relation to the value of other currencies is maintained at a fixed conversion rate through government intervention

Facebook and Twitter

were used by people in Tunisia in 2011 to disseminate information on anti-regime protest

College Students

will be able to work for a (MNC) corporation, bank or other NGO's wether home or abroad.