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Flashcards in Globalization Deck (12)
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Under the Breton Woods System, international trade is denominated in what currency?

Under the Breton Woods System, international trade is denominated in dollars. The Breton Woods System was established during World War II to organize the economic recovery of post-War Europe and Asia.

In 1947, the Breton Woods nations (which did not include the Soviet Union or her allies) established a set of rules to govern international trade, known as the General Agreement on Tariffs and Trade (GATT).


What is the G-8?

The G-8 (Group of Eight) is an informal association of the world's largest economies, which meet regularly to discuss trade and economics. The G-8 countries are:

  1. the United States
  2. Russia
  3. Germany
  4. Great Britain
  5. Japan
  6. France
  7. Italy
  8. Canada


What does "WTO" stand for?

WTO stands for the World Trade Organization. Over 100 of the world's countries belong to the World Trade Organization, which is dedicated to increasing economic integration and facilitating international trade.


In 1975, 35 nations, including the United States and the Soviet Union, signed the Helsinki Accords. What did the Accords provide?

The Helsinki Accords formally ratified the European territorial boundaries put in place after World War II. The accords set up "watch committees" to conduct surveillance on human rights violations in the countries that had signed the agreement.


Based in New York City, the _____ _____ provides an international forum for the world's nations.

United Nations

The United Nations has many functions such as the preservation of cultural heritage, but exists primarily to keep peace between the world's nations.


In 2002, the nations of the European Union adopted the _____ as a form of common currency.


The European Union, which also consists of some cooperative military and political organizations, adopted the euro in part to facilitate international trade among the nations of Western Europe. In recent years, several former Communist countries have joined the organization. 


By marrying hypertext to the Internet, Tim Berners-Lee gave birth to the ____ ____ _____ in 1989. 

World Wide Web (the www preceding an Internet address)

The first web page was created in 1991. By 1995, the entire World Wide Web barely exceeded 3.5 gigabytes in space, making the task of the earliest search engines, such as WebCrawler, straightforward.


What was Operation Uphold Democracy?

In 1994, a military coup overthrew Haitian President Jean-Bertrand Aristide. The United Nations Security Council passed Resolution 940, and U.S. troops were dispatched to Haiti as part of Operation Uphold Democracy to restore the democratically elected Aristide to power.


The Dayton Accords, signed in 1995, resolved what conflict?

The Dayton Accords put an end to the three-and-a-half year-long war in Bosnia, which arose out of the Socialist Federal Republic of Yugoslavia following Communism's collapse in Europe. President Clinton was instrumental in organizing the Accords and serving as mediator. NATO had previously conducted bombing raids to halt the conflict.


On September 11, 2001, the terrorist organization Al-Qaeda hijacked four airplanes. What were their targets?

Two planes were to fly directly into the World Trade Center buildings in downtown Manhattan. Both attacks were successful, and the Twin Towers fell that morning.

Two other planes were directed at the Pentagon and the White House. While the Pentagon attack was a success, passengers on the fourth plane, Flight 93, fought back and the plane crashed in Pennsylvania.

9-11 marked the deadliest of attacks by Islamist fundamentalists who had long been angry with the United States.


In October 2001, President Bush dispatched U.S. forces to invade which country?

Bush authorized the invasion of Afghanistan, which had provided the training ground for the 9-11 terrorists. Many of the NATO nations contributed troops and material support to the campaign. 


What are WMDs?

WMD stands for weapons of mass destruction. Saddam Hussein, the president of Iraq, had publicly stated that he possessed WMDs, which the United States used to justify a 2003 attack on the country without the United Nation's backing.