+
Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
|
What are the different categories of developing nations in international trade?
|
Nonmarket economies, developing nations including advanced developing countries (ADCs) and dependent economies.
|
|
What are examples of current nonmarket economies? |
North Korea and Cuba |
|
What nations have nonmarket economy characteristics?
|
Bolivia, Ecuador and Venzuala
|
|
What are some ADCs including the "four tigers"?
|
Mexico, Brazil, Argentina, India..."Four Tigers" Korea, Taiwan, Hong Kong and Singapore
|
|
What is the Bretton Woods System?
|
set of institutions and international instruments that came into being in the aftermath of WWII
|
|
What institutions did Bretton Woods create?
|
International Monetary Fund (IMF), General Agreement on Tariffs and Trade (GATT), and World Bank.
|
|
What is protectionism?
|
When times get rough governments have the impulse to guard their own.
Don’t want imports if they will compete with local producers/investors
|
|
What is the impact on the "pie" if protectionism is used?
|
You may be getting a bigger piece of the pie, but you are simultaneously shrinking the pie
|
|
What effect does liberalization of trade and investment have on the "pie"?
|
You get a smaller piece but the pie gets bigger.
|
|
What is the IMF's predominate job?
|
Predominately set up to deal with currency and be the lender of last resort to countries, conditionalities (e.g. less protectionism and less regulation). "World policeman"
|
|
What does the General Agreement on Tariffs and Trade do?
|
Goundational document of current international trade regime, first wave after WWII, basically got rid of some of the taxes, tariffs are the core of trade law.
|
|
What is the World Bank?
|
Lender to developing countries in order to facilitate economic development.
|
|
What is the Westphalian World Order?
|
Only states have rights. However as of late just started recognizing other actors (e.g. individuals, NGP, terrorist organizations).
|
|
What is a civil law system and what are some countries with this system?
|
They have codes not case law. Typically countries in Europe or who were colonized by Europe.
|
|
What is the common law system and examples of countries who follow it?
|
Based on case law. United States, India, United Kingdom.
|
