International Relations Assessment
HRC
Human Rights Council Promotes and protect human rights around the world Subsidiary body of the UNGA Council works closely with the Office of the High Commissioner for Human rights and engages in the UN's special procedures
Levels of analysis for international politics
Individual: the very personalities of leaders shape foreign policy State: The backgrounds of states can offer a complete picture of international politics (the type of government, economic performance, geography, history, culture) International: Lead nations to behavior in particular ways based upon how much power they hold
IGOs
Intergovernmental Organizations Organizations composed primarily of sovereign states or of other intergovernmental organizations Are established by treaty that acts as a charter creating the group. Example: The UN, WTO, World Nature Organization, IMF
IAEA
International Atomic Energy Agency UN organization that seeks to promote the peaceful use of nuclear energy and to inhibit its use for any military purpose Intergovernmental forum for scientific and technical cooperation int he peaceful use of nuclear technology and nuclear power worldwide
CPED
International Convention for the Protection of All Persons from Enforced Disappearance Intended to prevent forced disappearance defined in international law, crimes against humanity Parties to the convention undertake investigations of enforced disappearance and bring those responsible to justice, establish jurisdiction over the offense of enforced disappearance when the alleged offender is within its territory, even if they are not a citizen or resident, ensure that victims of enforced disappearance or those directly affected by it have a right to obtain reparation and compensation
ICERD
International Convention on the Elimination of All Forms of Racial Discrimination Commits members to the elimination of racial discrimination and the promotion of understanding among all races Also requires its parties to outlaw hate speech and criminalize membership in racist organizations
ICMW
International Convention on the Rights of All Migrant Workers and Members of Their Families Governs the protection of migrant workers and their families The Committee on Migrant Workers monitors implementation of the convention Emphasizes the connection between migration and human rights
ICJ
International Court of Justice Universal court for international law Decides disputes between states that recognize its jurisdiction. Can provide advisory opinions on legal questions submitted to it by duly authorized international branches, agencies and the UNGA Renders judgment by relative majority
ICCPR
International Covenant on Civil and Political Rights Commits parties to respect the civil and political rights of individuals including the right to life, freedom and religion, freedom of assembly, electoral rights, rights to due process and a fair trial Part of the International Bill of Human Rights
ICESCR
International Covenant on Economic, Social and Cultural Rights Commits parties to work toward the granting of economic, social, and cultural rights to the Non-Self-Governing and Trust Territories and individual, including labor rights, the right to health, the right to education, the right to an adequate standard of living
ICC
International Criminal Court A permanent tribunal that has been created to prosecute individuals for genocide, crimes against humanity, war crimes, and the crime of aggression Focuses on the two bodies of international law that deal with the treatment of individuals, the human rights and humanitarian law Has jurisdictions including crimes with the jurisdiction of the court, territorial jurisdiction, temporal jurisdiction and complimentary Legally and functionally independent from the UN
ILO
International Labor Organization Deals with labor issues, particularly international labor standards, social protection, and work opportunities for all Registers complaints against entities that are violating international rules It does NOT impose sanctions on governments
Free Trade Agreement
Involve cooperation between at least two countries to reduce trade barriers -- import quotas and tariffs -- and to increase trade of goods and services with each other The US has become a leader of the free trade movement, standing behind groups such as the WTO
Events that happened in the 1980s
Iran-Contra Affair Change from White Regime to Election of Nelson Mandela Tiananmen Square Massacre US Invasion of Panama
Events that happened in the 1950s
Korean War Vietnam War
The European Parliament
Largest EU institution Members represent the major political parties in the EU Voices the political sympathies of the citizens of the Union Functions mainly as a public forum where issues of public importance are introduced and discussed, and questions are directed tot he Commission and the Council Parliament can amend or reject the EU budget and thus also acts as a limited legislative body
LDCs
Least Developed Countries A country that exhibits the lowest indicators of socioeconomic development, with the lowest human development index ratings of all countries in the world
Nobel Peace Prize Winner 2010
Liu Xiaobo for long and non-violent struggle for fundamental human rights in China
Poverty rate
Minimum level of income deemed adequate in a particular country Determined by finding the total cost of all the essential resources that an average human adult consumes in one year
Countries with sub-replacement birth rates
Most of EU, Canada, Brazil, Russia, China, Japan & Germany
MNEs
Multinational Enterprises An organization that owns or controls production of goods or services in one or more countries other than their home country Take many different forms and engage in many different activities such as importing and exporting goods and services, making significant investments in foreign markets, opening manufacturing facilities or assembly operations in foreign countries
NSC
National Security Council Nongovernmental public service organization promoting health and safety int he US Engages businesses, government agencies, elected officials and the public to help prevent the 5th leading cause of death in the US (unintentional injury)
Events that happened in the 1970s
Nixon's First Visit to China First Oil Embargo Camp David Accord Islamic Republic Established in Iran
NGOs
Non-governmental organizations An organization that is neither a part of a government nor a conventional for-profit business Exist to deliver resources or serve some social/political purpose Usually set up by ordinary citizens Common focus is on orientation and level of operation (orientation refers to the type of activities it takes on and level of operation refers to the scale at which an organization works like local, regional, etc) Enjoy a high degree of public trust The essentially serve as a bridge between the global or regional organizations and efforts to promote human rights on the ground Example: Amnesty International
NAFTA
North American Free Trade Agreement Agreement signed by the US, Canada, and Mexico that created a trilateral trade block in North America Goal was to eliminate barriers to trade and investment between the three countries to foster economic development
Free Trade Agreements that the US participates in
North American Free Trade Agreement (NAFTA) Israel-United States Free Trade Agreement Australia-United States Free Trade Agreement Dominican Republic-Central America Free Trade Agreement (DR-CAFTA)
NATO
North Atlantic Treaty Organization An intergovernmental military alliance based on the North Atlantic treaty signed in 1949 Constitutes a system of collective defense whereby its member states agree to mutual defense in response to an attack by any external party
OAS
Organization of American States Intercontinental organization founded for the purposes of regional solidarity and cooperation among its member states Members are the 35 independent states of the Americas
OPEC
Organization of the Petroleum Exporting Countries Mandated to coordinate and unify the petroleum policies of its members and ensure the stabilization of oil markets in order to secure an efficient, economic, and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry
Powers of the Supreme Court/Judiciary Branch
Power of Judicial Review (can determine whether legislative and executive branch actions are permitted within the powers outlined for them in the Constitution) Power of Judicial Deference (can sublimate their judgments of another party)
Powers of Congress/Legislative Branch
Power to declare war Power to ratify treaties Has funding power Must confirm all diplomats nominated by the President Regulate commerce with foreign nations
Why did the League of Nations fail
Primary members were not willing to accept the possibility of their fate being decided by other countries and by enforcing unanimous voting, they effectively gave themselves veto power Many nations never joined, or had very short periods of membership Weakened when major powers left in the 30s The League's collective security system required nations to act, if necessary, against states they considered friendly, and in a way that might endanger their national interests, to support states for which they had no normal affinity Lacked an armed force of its own and depended on the Great Powers
Privatization
Process of transferring ownership of a business, enterprise, agency, public service, or public property from the public sector (a government) to the private sector, either to a business that operates for a profit or to a nonprofit organization
QDR
Quadrennial Defense Review A study done by the US DoD that analyzes strategic objectives and potential military threats Main public document describing the US's military doctrine
Reservations
Reservations are made by states make upon ratification of international treaties . States declare under which conditions they consider themselves to be bound by a treaty. They can enter reservations UNLESS these are refused by other states or contrary to the objective of the treaty in question. This cannot be applied to Human Rights Treaties.
R2P
Responsibility to Protect A proposed norm that sovereignty is not an absolute right, and that states forfeit aspects of their sovereignty when they fail to protect their populations from mass atrocity crimes and human rights violations A state has the responsibility to protect its population from genocide, war crimes, crimes against humanity, and ethnic cleansing
Events that happened in the 2000s
September 11th
The Council
Sometimes referred to as the Council of Ministers Acts as the legislative branch of the EU Enacts legislation applicable throughout the EU Directing cooperation among member government Most decisions are made by majority vote, however some still require unanimity such as foreign policy, taxation, and environmental issues
GATT
Stands for General Agreement on Tariffs and Trade Designed to serve as an interim codification of the rules governing commercial relations among its signatories until the International Trade Organization was created The ITO never came into existence The GATT governed postwar international trade relations for almost 50 years
IBRD
Stands for International Bank for Reconstruction and Development (now, it's just called the World Bank) Offers loans to middle-income developing countries Provides commercial-grade or concessional financing to sovereign states to fund projects that seek to improve their way of life (transportation, environment, etc.) Acquires most of its capital by borrowing on international capital markets through bond issues
IMF
Stands for International Monetary Fund An institution of 186 members, providing extensive technical assistance and short-term flows of stabilization finance to any of those members experiencing temporarily distressed public finances. They seek to maintain an orderly system of payments and receipts between nations.
WTO
Stands for World Trade Organization This replaced the GATT in 1995. Deals with regulation of trade between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay round
State
States govern a territory with boundaries They usually have laws, taxes, officials, currencies, postal services, police and (usually) armies They claim sovereignty within their territory -- a kind of exclusive jurisdiction that goes back to the rule of kings
Balance of payments
Summarizes an economy's transactions with the rest of the world for a specified time period Encompasses all transactions between a country's residents and its nonresidents involving good, services, and income; financial claims on and liabilities to the rest of the world; and transfers such as gifts Is not concerned with actual payments made and received by an economy, but rather with transactions
What is the UN
The United Nations is an intergovernmental organization established in 1945 to promote international cooperation It replaced the League of Nations and was created to prevent another World War It is financed by assessed and voluntary contributions from its member states Objectives include: maintaining international peace and security, promoting human rights, fostering social and economic development, protecting the environment, providing humanitarian aid
Separatism
The advocacy of a state of cultural, ethnic, tribal, religious, governmental or gender separation from the larger group Separatist groups seek nothing more than greater autonomy Example: Break up of the Soviet Union into its 15 constituent republics Czechoslovakia separating
FBI
The domestic intelligence and security service of the US, which simultaneously serves as the nation's prime Federal law enforcement organization Operates under the jurisdiction of the US Department of Justice
Sovereignty
The full right and power of a governing body to govern itself without any interference from outside sources or bodies Designating supreme authority over some policy
Balance of power
The idea that national security is enhanced when military capabilities are distributed so that no one state is strong enough to dominate all other If one state gains inordinate power, the theory predicts that it will take advantage of its strength and attack weaker neighbors thereby providing an incentive for those threatened to unite in a defensive coalition
Hegemony
The political, economic, or military predominance or control of one state over another The dominant state is known as the hegemon
Nationalization
The process of taking a private industry or private assets into public ownership by a national government or state Most common in developing countries subject to frequent leadership and regime changes
Autarky
The quality of being self-sufficient Exists whenever an entity can survive or continue its activities without external assistance or international trade
Ratification
This involves the legal obligation for the ratifying State to apply the Convention The State first signs and then ratifies the treaty Grants the states the necessary time-frame to seek the required approval for the treaty on the domestic level and to enact the necessary legislation to give domestic effect to that treaty
NPT
Treaty on the Non-Proliferation of Nuclear Weapons Objective is to prevent the spread of nuclear weapons and weapons technology, promote cooperation in the peaceful uses of nuclear energy and to further the goal of achieving nuclear disarmament and general and complete diarmament
Order of Presidents from Truman to Obama (with years)
Truman (45-53) Eisenhower (53-61) Kennedy (61-63) Johnson (63-69) Nixon (69-74) Ford (74-77) Carter (77-81) Reagan (81-89) HW Bush (89-93) Clinton (93-01) W Bush (01-09) Obama (09-17)
UNICEF
UN Children's Emergency Fund Provides long-term humanitarian and developmental assistance to children and mothers in developing countries One of the members of the UN Development Group
UNESC
UN Economic and Social Council For global economic and social affairs Responsible for cooperation between states as regards economic and social matters Coordinates cooperation between the UN's numerous specialized agencies
UNESCO
UN Educational, Scientific, and Cultural Organization Contributes to peace and security by promoting international collaboration through education, science, and culture in order to further universal respect for justice, the rule of law, and human rights along with fundamental freedom proclaimed in the UN charter Pursues this through 5 major programs: education, natural sciences, social/human sciences, culture, communication/information
UNGA
UN General Assembly Deliberative assembly of all UN member states May resolve non-compulsory recommendations to states or suggestions to the Security Council Decides on the admission of new members, following proposal by the UNSC Adopts the budget
UNHCR
UN High Commissioner for Refugees Mandated to protect and support refugees at the request of a government or the UN itself Assists in their voluntary repatriation, local integration, or resettlement to a third country
UNWRA
UN Relief and Works Agency A relief and human development agency Provides education, health care, and social services to the 5 million registered Palestine refugees from the 1948 and 1967 wars Only agency dedicated to helping refugees from a specific region or conflict and is separate from UNHCR
UNSC
UN Security Council Specifically for international security issues Responsible for the maintenance of international peace and security May adopt compulsory resolutions
WMD
Weapons of Mass Destruction A weapon that can cause massive loss of life or massive destruction of property such as mustard gas, nuclear weapons, etc.
WHO
World Health Organization Concerned with international public health Current priorities include: communicable diseases, sexual and reproductive health, nutrition, food security, healthy eating, substance abuse
Events that happened in the 1940s
World War II Decolonization Beginning of Cold War PRC Established
5 countries with the highest poverty rate
1. Chard 2. Liberia 3. Haiti 4. Democratic Republic of the Congo 5. Sierra Leone
Two distinct meanings of "regime"
1. Refers to any form of government, especially an authoritarian one 2. Implicit/explicit principles, norms, rules, and decision-making procedures around which actors' expectations converge (many can transform into intergovernmental organizations)
How many people live on less than $2 a day
2.8 billion people
Interdependence
A consequence of specialization, or the division of labor, and is almost universal The participants in an economic system are dependent on other for the products they cannot produce efficiently for themselves
National interest
A country's goals and ambitions whether economic, military, or cultural The pursuit of the national interest is the foundation of the realist school in international relations
National debt
A debt owed by a central government One method of financing government operations, but is not the only method Usually borrow by issuing securities, government bonds, and bills
Multipolar
A distribution of power in which more than two nation-states have nearly equal amounts of military, cultural, and economic influence One major implication is that international decisions will often be made for strategic reasons to maintain a balance of power rather than out of ideological or historical reasons
Unipolar
A distribution of power in which one state exercises most of the cultural, economic, and military influence Interstate system and not an empire: implies the existence of many juridically equal non-states, something that an empire denies Possesses only one great power and face no competition
Bipolar
A distribution of power in which two states have the majority of economic, military, and cultural influence internationally or regionally
Microfinance
A source of financial services for entrepreneurs and small businesses lacking access to banking and services Two main mechanisms for the delivery of financial services to such clients are: relationship-based banking for individual entrepreneurs and small businesses AND group-based models, where several entrepreneurs come together to apply for loans and other services as a group
Sovereign wealth fund
A state-owned investment fund investing in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity or hedge funds They invest globally The accumulated funds may have their origin in, or may represent, foreign currency deposits, gold, special drawing rights, and the IMF reserve positions held by central banks and monetary authorities These are assets of the sovereign nations that are typically held in domestic and different reserve currencies (such as the dollar, euro, pound, and yen)
Democratic Peace Theory
A theory which posits that democracies are hesitant to engage in armed conflict with other identified democracies Several factors are held as motivating peace between liberal states: Democratic leaders are forced to accept culpability for war losses to a voting public Publicly accountable statement are more inclined to establish diplomatic institutions for resolving international tensions Democracies are less inclined to view countries with adjacent policy and governing doctrine as hostile Democracies tend to possess greater public wealth than other states
The Court of Justice
Acts as the EU's supreme court and plays an executive role within the Union Provides interpretation and enforce implementation of the treaties by the EU institutions and the member states
UN Secretariat
Administrative structure of the UN Supports the other UN bodies administratively (writing reports, preparing the budget) The UN Secretary General is the UN's foremost representative
Other Collective Defense Agencies the US is a part of
Agreement between the US and Australia and New Zealand Phillipine Treaty Southeast Asia Treaty Japanese Treaty Republic of Korea Treaty Rio Treaty
Power
An actor's ability to exercise influence over other actors within the international system Mechanisms of influence can include the threat or use of force, economic interaction or pressure, diplomacy, and cultural exchange
Trade deficit
An economic measure of a negative balance of trade in which a country's imports exceeds its exports Represents an outflow of domestic currency to foreign markets
CIA
An external intelligence service of the US Government, tasked with gathering, processing, and analyzing national security information from around the world, primarily through the use of human intelligence Only agency authorized to carry out and oversee covert action Independent civilian intelligence agency of the US that is responsible for providing intelligence regarding national security to the US policymakers
Collective Security Treaty Organization
An intergovernmental military alliance, acting as counterpart to the NATO alliance Serves as a mutual defense alliance among Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan and Tajikistan Wants to preserve territorial integrity and seek closer cooperation with other multilateral institutions, such as the UN, NATO and the Shanghai Cooperation Organization
League of Nations
An intergovernmental organization founded in 1920 as a result of the Paris Peace Conference that ended WWI First international organization whose principal mission was to maintain world peace The US did not join because of opposition in the Senate Didn't like it because the US would be bound by international contract to defend a League of Nations member if it was attacked and didn't want to get involved in international conflicts
Transnational Organization
An organization whose goals are not confined to national or subnational matters, but rather to matters concerning more than one nation, to a global cause, or to humanity itself Examples: the Red Cross, the World Wildlife Fund, PETA, etc.
Dependence
An unending situation in which countries, economies, and economic agents depend on each other and a variety of different economic and non-economic factors for economic and non-economic reasons
Irredentism
Any political or popular movement intended to reclaim and reoccupy a lost homeland Tries to justify its territorial claims on the basis of real (or imagined) historic and/or ethnic affiliations Example: Nazi Germany felt like they had claims to Alsace-Lorraine, areas of Poland, Lithuania, Austria and the Czech Sudtenland
Events that happened in the 2010s
Arab Awakening
BMD
Ballistic Missile Defense A system, weapon, or technology involved in the detection, tracking, interception, and destruction of attacking ballistic missiles
Nobel Peace Prize Winner 2009
Barak Obama for extraordinary efforts to strengthen international diplomacy and cooperation between people
BRIC
Brazil, Russia, India, China Three non-Western and one Latin American country experiencing continuous growth All four possess significant massive areas of land and large populations Considered to be at the stage of newly advanced economic development
Signature
By signing, the State expresses its intention to become a Party to the Convention However, signature does not oblige a State to take further action towards ratification It DOES oblige the state to refrain from acts that would defeat or undermine the treaty's objective and purpose
The European Commission
Center of the EU's policy making process Proposes policy and legislation, is a unit of administration, and ensures the proper implementation of Treaty provisions and institutional decisions
Constituent Members of the Office of the Director of National Intelligence
Central Intelligence Agency FBI National Security Branch Defense Intelligence Agency National Geospatial-Intelligence Agency National Reconnaissance Office National Security Agency DEA Office of National Security Intelligence Energy Office of Intelligence and Counterintelligence DHS Office of Intelligence and Analysis Coast Guard Intelligence State Bureau of Intelligence and Research Treasury Office of Intelligence and Analysis Air Force Intelligence Army Intelligence Marine Corps Intelligence Naval Intelligence Office of the Director of National Intelligence
Communist Nations (5)
China, Cuba, Laos, North Korea, Vietnam
Powers of the President/Executive Branch
Commander in Chief (responsible for leading the armed forces) Nominates ambassadors and military generals Can make executive agreements Can create treaties Chief diplomat to the US
Regional Development Banks
Consist of several regional institutions that have functions similar to the World Bank group's activities, but with particular focus on a specific region. Best known of these regional banks cover regions that roughly correspond to the UN regional groupings: Inter-American Development Bank, Asian Development Bank, African Development Bank, Central American Bank for Economic Integration, European Bank for Reconstruction and Development
The European Council
Consists of the Heads of State or Government of the Member State Provides the EU with the necessary impetus for its development and to define the general political guidelines Does not exercise any legislative function It can be consulted on criminal matters or on social security matters in cases where a State opposes a legislative proposal in these areas
CAT
Convention Against Torture Aims to prevent torture and other acts of cruel, inhumane, or degrading treatment or punishment around the world Requires states to take effective measures to prevent torture in any territory under their jurisdiction, and forbids states to transport people to any country where there is reason to believe they will be tortured
CEDAW
Convention on the Elimination of All Forms of Discrimination Against Women International bill of rights for women Focuses on non-discrimination, sex stereotypes and sex trafficking, women's rights in the public sphere with an emphasis on political life, representation and rights to nationality, economic and social rights of women, etc.
CRPD
Convention on the Rights of Persons with Disabilities Intended to protect the rights and dignity of persons with disabilities Required to promote, protect, and ensure the full enjoyment of human rights by persons with disabilities and ensure that they enjoy full equality under the law Only UN human rights instrument with an explicit sustainable development dimension
CRC
Convention on the Rights of the Child Sets out the civil, political, economic, social, health and cultural rights of children Child=anyone under 18 Children have basic rights including right to life, to express their opinions, right to be prosecuted and have their privacy protected
COIN
Counterinsurgency Comprehensive civilian and military efforts taken to simultaneously defeat and contain insurgency and address its root causes
Events that happened in the 1960s
Cuban Missile Crisis Six Day War
Universal Declaration of Human Rights
Declaration adopted by the UNGA in 1948 Represents the first global expression of rights to which all human beings are inherently entitled Begins by recognizing that the "inherent dignity of all members of the human family is the foundation of freedom, justice and peace in the world." Says human rights should be enjoyed by all, including the right to life, liberty, free speech, privacy, etc.
Budget deficit
Deficits occur when a government's expenditures exceed the revenue that it generates Can be measured with or without including the interest payments on the debt as expenditures Primary deficit: difference between current government spending on the goods and services and total current revenue from all types of taxes net of transfer payments Total deficit: the primary deficit plus interest payments on the debt
Events that happened in the 1990s
Desert Storm End of the Cold War EU Maastricht Treaty Oslo Accords Rwandan Genocide
The European Central Bank
Determines and implements monetary policy in the EU countries that are members of the single currency, the Euro, together with the European System of Central Banks
Comparative advantage
Economic theory about the potential gains from trade for individuals, firms, or nations that arise from differences in their factor endowments or technological process An agent has a comparative advantage over another in producing a particular good if he can produce that good at a lower relative opportunity cost or autarky price Explains why countries engage in international trade even when one country's workers are more efficient at producing every single good than workers in other countries
Nobel Peace Prize Winner 2011
Ellen Johnson Sirleaf, Leymah Gbowee, Tawakkol Karman for non-violent struggle for the safety of women and for women's rights to full participation in peace-building work
Nobel Peace Prize Winner 2012
European Union for over 6 decades contributed to the advancement of peace and reconciliation, democracy, and human rights in Europe
FAO
Food and Agriculture Organization Leads international efforts to defeat hunger Serving both developed and developing countries, it acts as a neutral forum where all nations meet as equals to negotiate agreements and debate policy
FDI
Foreign direct investment The net inflows of investment to acquire a lasting management interesting in an enterprise operating in an economy other than that of the investor A controlling ownership in a business enterprise in one country by an entity based in another country
GDP
Gross Domestic Product Total value of all goods and services produced within that territory during a given year Designed to measure the market value of production that flows through the economy Counts only the goods and services produced within the country's borders during the year, whether by citizens or foreigners Real GDP: measures the value of output in two or more different years by valuing the goods and services adjusted for inflation (considered more accurate) Nominal GDP: measures the value of output during a given year using the prices prevailing during that year
G-8
Group of 8 (France, Germany, Italy, the UK, Japan, the US, Canada, & Russia) Meetings are held to discuss global issues like economic growth, crisis management, global security, energy, and terrorism without the governments of developing nations, who have the BRIC forum
Nation
Groups of people claiming common bonds like language, culture, and historical identity Each of these nations has its own special territory, rights, laws, and culture, but not statehood. Example: Tibetans, Scotland, Navahos)
Accession
Has the same legal effect as ratification, but differs in the process The State ratifies the treaty without signature Accession usually occurs after the treaty has entered into force The act whereby a state accepts the offer or the opportunity to become a party to a treaty already negotiated and signed by the other states
The Four Tigers
Hong Kong, Singapore, South Korea, Taiwan They have maintained high levels of economic growth since the 1960s, fueled by exports and rapid industrialization, which enabled these economies to join the ranks of the world's richest nations.