Practice Flashcards
1
Q
Deterrence
A
Demanding that an adversary refrain from taking a certain negative action.
ex. Cuban Missile Crisis
2
Q
Compellance
A
Demanding that an adversary undertake a certain action. Ex. Comprehensive Plan of Action in the Iran Nuclear Deal
3
Q
The NSA has decided it wants to intercept your phone conversations. What, by US law, must it do before it can proceed?
A
NSA must request a surveillance warrant through the US Foreign Intelligence Surveillance Court (FISC/A) and must meet certain requirements, including that the target is believed to be a foreign power or agent, officer, or employee of a foreign power. The warrant must be approved.
4
Q
What are the levels of analysis?
A
Individual level
Domestic/State Level
International
5
Q
Individual Level of Analysis
A
concerned with the perceptions, choices, and actions of individual human beings.
6
Q
Domestic/State Level of Analysis
A
concerned with the aggregations of individuals within states that influence state actions in the international arena.
7
Q
CIA’s duties
A
collects, analyzes, and disseminates intelligence on foreign countries and their citizens, and is not authorized to conduct intelligence activities on US persons. Unlike the FBI, the CIA does not have law enforcement duties. CIA is the only organization with the authority to carry out and oversee covert action at the behest of the President.
8
Q
FBI’s duties
A
domestic jurisdiction; gathers domestic intelligence and monitors domestic activity, federal law enforcement authority; investigates internal threats. Organized under the Dept. of Justice.
9
Q
How many of the 18 constituent members of the ODNI can you name?
A
Office of the Director of National Intelligence
Central Intelligence Agency
Air Force Intelligence
Army Intelligence
Navy Intelligence
Marine Intelligence
Space Force Intelligence
Defense Intelligence Agency
National Reconnaissance Office
National Geospatial Intelligence Agency
National Security Agency
Department of Energy Office of Intelligence and Counterintelligence
Department of Homeland Security’s Office of Intelligence and Analysis
US Coast Guard Intelligence
Federal Bureau of Investigation
Drug Enforcement Agency’s Office of National Security Intelligence
Department of State’s Bureau of Intelligence and Research
Department of Treasury’;s Office of Intelligence and Analysis
10
Q
Who were the Nobel Peace Prize winners of 2019 and for what were they honored?
A
Ethiopian Prime Minister Abiy Ahmed Ali ”for his efforts to achieve peace and international cooperation, and in particular for his decisive initiative to resolve the border conflict with neighbouring Eritrea”
11
Q
What is the EU?
A
The EU is an international organization comprised of 27 European countries which governs economic, social, and security policies.
12
Q
The European Commission
A
The administrative and executive branch of the EU which drafts laws, sets the budget, and manages trade interests.
13
Q
The Council of Ministers or Council of the EU
A
They sign international treaties for the EU and discuss and vote on law proposals.
14
Q
European Parliament
A
The only directly elected body in the EU and represents the voice of the people. They share the legislative power with the Council of Ministers.
15
Q
European Council
A
Composed of heads of member states. They make key decisions on the EU’s big-picture direction and are headed by an appointed president. They can set the agenda for the European Commission and override the Council of Ministers or sideline Parliament.
16
Q
European Court of Justice
A
Interprets treaties and issues judgements on EU law. Each member state has a judge, it is headed by a president, and it is supplemented by a General Court.
17
Q
European Central Bank
A
Heads operations for those in the EuroZone (19 states). They set interest rates, print and distribute money, and generally maintain the financial wellbeing of the Euro.
18
Q
Which States are part of NATO but not the EU
A
Albania, Canada, Iceland, Montenegro, North Macedonia, Norway, Turkey, (the United Kingdom) and the United States
19
Q
EU members that are not part of the EuroZone
A
Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, and Sweden
20
Q
League of Nations
A
An organization established after WWI and the predecessor of today’s UN; it achieved certain humanitarian successes and was meant to resolve international disputes, but was weakened by the absence of U.S. membership and by its own lack of effectiveness in ensuring collective security.
21
Q
Why did the US not join the League?
A
The U.S. did not join the League because many in the government were fearful that it would be too costly to be engaged in European disputes and chose an isolationist stance. The U.S. Senate would not approve U.S. participation in the League.
22
Q
Why did the League fail?
A
The League failed not only because of the lack of U.S. power backing it, but because its members were not willing to bear the costs of collective action to oppose aggression in the 1930s.
23
Q
Munich
A
Munich Agreement 1938, an agreement between UK, Germany, Italy, and France that permitted annexation of Sudetenland in western Czechoslovakia by Nazi Germay. It was trying to pacify Germany before WWII Lesson: don’t negotiate with terrorists; led to the end of the policy of appeasement, may also embold enemies to engage in war
24
Q
Cuban Missile Crisis
A
In 1962, the Soviet Union installed medium-range nuclear missiles in Cuba. This was the moment when the US and Russia came closest to nuclear war during the Cold War. It was a direct result of the Bay of Pigs. Lesson: the difficulty of of securing accurate intelligence, presidential leadership and mistakes, and the danger that mutual fear can lead to mutually assured destruction, reality of nuclear war.
25
Vietnam
Vietnam War 1955-1975, a conflict between North and South Vietnam where China turned North Vietnam communist. The US supported and gave support and arms to democratic South Vietnam. A proxy war fought during the Cold War and occurred in a time where the USA was trying to stop the spread of communism. Lesson: America must never again commit its power and authority in defense of a country of only marginal strategic interest when that country lacks a broadly based government, or the will to create one, evaluate clear goals and strategy, evaluate the necessity of going into a war
26
Black Hawk Down
Battle of Mogadishu 1993-Elite American troops launched a raid in Mogadishu, Somalia in order to capture allies of a Somalian warlord. During one mission a black hawk helicopter was hit by a rocket powered grenade and crashed, shortly after, the second Black Hawk was shot down. The crew of the black hawk was killed, except one man who was taken prisoner by the warlord. The fight that ensued resulted in deaths in both sides. The bodies of some of the dead Americans were dragged through the streets. Was a disastrous mission. Lesson: US perception from media, perceived total perception of failure of mission, led to US hesitance in Srebrenica and Rwanda
27
Dien Bien Phu
Dien Bien Phu Battle 1954- A French stronghold in Indochina that was besieged by Vietnamese communists for 57 days. Ho Chi Minh’s forces defeated the French and ended their colonial influence and cleared the way for the division of Vietnam. Lesson: don’t underestimate your enemy
28
Srebrenica
Srebrenica Incident 1995- The genocide of thousands of Muslim Bosnian men and boys during the Bosnian War by Christian Bosnian Serbs. The Serbs wanted to remain part of Yugoslavia, but Bosniaks wanted independence. Over 20,000 civilians were forced to leave Srebrenica, which was ethnic cleansing and genocide. Lesson: the failure of the international community and UN to prevent or stop the most gruesome atrocities committed against civilians.
29
Versailles
Treaty of Versailles 1919-After WWI, the Treaty held Germany responsible for starting the war and imposed harsh penalties, loss of territory, massive reparations and demilitarization. German resentment of these penalties and their effects contributed to Hitler’s rise to power. Lesson: leaving a country in need or enacting strict punishment can lead to future conflict.
30
Rwanda
The Genocide against the Tutsi in 1994- A Hutu government and civilians systematically murdered over half a million Tutsis as well as Hutu sympathizers and Twa in 100 days. Lesson: Failure of the international community or EU to take action or listen to voices on the ground.
31
LDCs
least developed countries
32
NSC
national security council
33
NPT
treaty on the non-proliferation of nuclear weapons
34
QDR
quadrennial defense review
35
BMD
ballistic missile defense
36
COIN
counterinsurgency
37
IAEA
international atomic energy agency
38
WMD
weapons of mass destruction
39
R2P
responsibility to protect
40
OPEC
organization of the petroleum exporting countries
41
BRIC
Brazil, Russia, India, China
42
NAFTA
North American free trade agreement
43
G7
Group of 7 (Canada, France, Germany, Italy, Japan, UK, and the US
44
OAS
organization of American States
45
BRI
belt and road initiative
46
OBOR
one belt one road
47
Executive Powers
Vetos laws, receive ambassadors
48
Legislative Powers
Makes laws, declares war
49
Judiciary Powers
Interprets and applies laws, determines constitutionality of laws
50
5 US Secretaries of State
```
Hillary Rodham Clinton (2009-2013) - Barack Obama
John Kerry (2013-2017) - Barack Obama
Rex Wayne Tillerson (2017-2018) - Trump
Michael R. Pompeo (2018-2021) - Trump
Antony Blinken (2021-) - Biden
```
51
Starting with Harry Truman, list the presidents in order with their years in office.
```
Harry Truman 45-53
Dwight D. Eisenhower 53-61
John F. Kennedy 61-63
Lyndon B. Johnson 63-69
Richard Nixon 69-74
Gerald Ford 74-77
Jimmy Carter 77-81
Ronald Reagan 81-89
George H. W. Bush 89-93
Bill Clinton 93-01
George W. Bush 01-09
Barack Obama 09-17
Donald Trump 17-21
Joe Biden 21-Incumbent
```
52
2010s
Arab Awakening (Arab Spring) - 2010
Belt and Road Initiative (BRI)/One Belt One Road (OBOR)- 2013
Brexit referendum- 2016 2020 (began process in 2016, was not official until 2020)
53
2000s
9-11- 2001
| World Financial Crisis, or Great Recession- 2007-2008
54
1990s
```
Desert Storm- January 17, 1991
End of the Cold War- 1991
Oslo Accords- September, 1993
EU-Maastricht Treaty- 1993
Rwandan genocide- 1994
Change from a White Regime to the Election of Nelson Mandela in South Africa- 1994
```
55
1980s
Iran-Contra Affair- 1985
Tiananmen Square Massacre 1989
US invasion of Panama- 1989
56
1970s
```
Nixon’s first visit to China- 1972
First oil embargo- 1973
End of the Vietnam War- 1975
Camp David Accord- 1978
Islamic republic established in Iran after overthrow of Shah- 1979
```
57
1960s
Cuban Missile Crisis- 1962
Green Revolution -1964
Six Day War- 1967
58
1950s
Korean War- 1950-1953
| Largest Wave of Decolonization - 1957
59
1940s
World War II -1939-1945
Beginning of the Cold War- 1947
Marshall Plan- 1948
PRC (People’s Republic of China) established- 1949
60
1930s
The beginning of the Great Depression- 1930s
61
About how many people live on less than $2 per day in the world?
10% of the world population ~ 779 million people (2020)
62
What is the US Federal Budget
4.829 trillion
63
What percentage of the US Budget is spent on foreign aid?
Foreign Aid: 41 billion/ .06% (2021)
64
What percentage of the US Budget is spent on defense?
753.5 billion (2021)
65
What is GDP?
The total monetary or market value of all goods and services produced in a country in a certain period of time.
66
Nominal GDP
calculated by multiplying all goods/services produced by their current market price and then summing all values.
67
US Federal Budget 2020 Fiscal Year
4.829 trillion
68
US Debt
28.6 trillion
69
Largest Foreign Holder of our Debt
Japan
70
Pop. of Canada
38 million, subreplacement
71
Pop of Germany
83 Million, subreplacement
72
Pop of Japan
126 Million, subreplacement
73
Pop of Mexico
129 Million
74
Pop of Russia
144 million, subreplacement
75
Pop of Nigeria
206 Million
76
Pop of Brazil
212 Million
77
Pop of USA
329 Million
78
Pop of EU
445 Million, subreplacement
79
Pop of India
1.35 Billion
80
Pop of China
1.4 Billion, subreplacement
81
Pop of Earth
7.8 Billion (US Census Bureau)
82
How many years for the planet to reach the next billion?
It will reach 8 billion by 2025 (US Census Bureau)
83
Democratic Peace Theory?
Democracies almost never fight wars against other democracies. This may be a mere coincidence, or it may be because democracies have strong trade relations with each other, or because they simply do not see each other as enemies.
84
National Debt
The amount of debt the government is in. The accumulation of budget deficits. Can be the amount owed to lenders within the state or from another country.
85
Budget Deficit
When spending exceeds revenue/income
86
Trade Deficit
When imports exceed exports
87
Balance of Payments
A statement of all monetary transactions between a country and the rest of the world. A statement of all liabilities and assets.
88
Collective Security Treaty Organization
A broad alliance in an international system for the purpose of jointly opposing aggression by any actor. The US participates in NATO, the Organization of American States, and the UN. Bilateral treaties: Korea Treaty, Philippines Treaty
89
Free Trade Agreement
An agreement between two or more countries where the countries agree on certain obligations that affect trade in goods and services, and protections for investors and intellectual property rights, among other topics. The US participates in the US-Mexico-Canada agreement (previously NAFTA) and has FTAs with 20 countries in total (Australia, Israel, and Jordan for example)
90
What percent of world exports does the US account for?
8% (2019 World Bank)
91
What percent of world imports does the US account for?
14% (2019 World Bank)
92
US exports of goods and services account for what percent of US GDP?
11.73% (2019 World Bank)
93
What is poverty rate and which 5 countries have the highest?
The ratio of the number of people (in a given age group) whose income falls below the poverty line (varies country to country); taken as half the median household income of the total population. South Sudan, Equatorial Guinea, Madagascar, Guinea-Bissau, Eritrea
94
FDI
foreign direct investment: The investment of a party in one country into a business in another country with lasting interest. This leads to controlling ownership in that business and having control over operations.
95
Microfinance
Financial services (loans, credit, insurance, savings accounts) who target people or (small) businesses that do not have access to conventional banking. Typically for those who live in rural areas.
96
Comparative advantage
What a country produces at a lower opportunity cost than another country. States should specialize in trading goods that they produce with the greatest relative efficiency and at the lowest relative cost relative to other goods produced. For example, if it takes France 5 hours to produce 1 unit of cloth while it takes the USA 2 hours, then it makes sense for the USA to produce and trade cloth. (related to interdependence)
97
Privatization
A government/public owned business is transferred into private ownership
98
Nationalization
Process where a privately owned business is transferred into government or public ownership. The government may take control of a certain corporation or industry
99
The Four Tigers
The four asian tigers refer to the most successful newly industrialized areas of East Asia: the economies economies of Taiwan, South Korea, Singapore, and Hong Kong
100
Interdependence
two states are simultaneously dependent on each other for their well-being - economically and politically
101
Dependence (Theory)
a Marxist oriented theory that explains the lack of capital accumulation in the third world as a result of the interplay between domestic class relations and the forces of foreign capital - it says that resources flow from poor, underdeveloped states to wealthy states, enriching the latter at the expense of the former
102
Autarky
a policy of self-reliance, avoiding or minimizing trade and trying to produce the most vital things one needs by oneself
103
Sovereign wealth fund
A state owned investment fund that invests in financial assets such as stocks, bonds, real estate, precious metals, and/or hedge/private funds. It is primarily used for diversification and to establish wealth for future generations. The money typically comes from a country’s reserves/surplus (the money a country owns)
104
Unipolar system
a hegemony where one state or entity has the overruling power. A unipolar system can exist within a bipolar system (could not verify this statement, but if a bipolar system is not 50/50, there could exist a dominant actor within a technical bipolar system)
105
Bipolar
a balance of power split between two main states or alliances. NATO and the Warsaw Pact are an example of a Bipolar balance of power. In this model, there are two hierarchies against each other. (The US and The Soviet Union during the Cold War)
106
Multipolar system
an international system with typically five or six centers of power that are not grouped into alliances. In this model there isn’t a hierarchy of power, but it’s more evenly balanced amongst participants.
107
Balance of Power
the concept of one or more states’ power being used to balance that of another state or group of states.
108
Hegemony
when one state holds a preponderance of power in the international system so it can single-handedly dominate the rules and arrangements by which international political and economic relations are conducted
109
National Interest
nations will act in their own best interest as rational actors to accomplish the most possible at the least cost
110
Sovereignty
a state’s right to do what it wants within its own territory; traditionally the most important international norm
111
Power
the ability to influence another actor’s behavior
112
Irredentism
Irredentism is the process by which a part of an existing state breaks away and merges with another. It is a territorial claim based on national, ethnic, or historical basis. The territory of another country should be annexed for ethnic or historical reasons.
Examples: Czechoslovakia was split into the Czech Republic and Slovakia. Cyprus was granted independence in 1960 from Turkey. Taiwan is leaning farther away from China in a separatist movement, yet unsuccessful due to threats from China.
113
Separatism
The advocacy or practice of separation of a certain group of people from a larger body on the basis of ethnicity, religion, or gender (can also be political or economic). Typically refers to full political separation.
Examples: Nazi Germany’s claims to Sudetenland in Czechoslovakia. Conflict between Armenia and Azerbaijan over the Armenian-populated Nagorno-Karabakh region (ongoing).
114
Nation
A group of individuals who feel like they have a lot in common (interests, habits, way of thinking) that they should become a particular state. Refers to the subjective feelings of the people.
115
State
An inhabited territorial entity controlled by a government that exercises sovereignty over its territory. Refers to the exercise of power and ability to enforce rules/laws.
116
What is international anarchy and how does that relate to the “security dilemma” faced by states, in two sentences?
International anarchy is the absence of world government, meaning that each state is a sovereign and autonomous actor pursuing its own national interests. This leads to a security dilemma; when there is no definitively ruling nation or entity, or if international actors are of equal strength, there is a “power vacuum” that allows actors to act with the sole consideration of their own group. The lack of an authoritative entity allows for the misinterpretation of other nation’s actions as threatening, leading to the continuous escalation of security measures known as the security dilemma. One actor may increase security measures, which may alarm another actor and be perceived as a threat, causing them to also increase security. (a good example would be the nuclear arms race between the USA and USSR)
117
IGO
Intergovernmental Organization: Organizations whose members are national
governments. OPEC, WTO, NATO, EU, UN, IOM
118
NGO
Non Governmental Organization: individuals and groups -a transnational group that interacts with states, multinational corporations, other NGOs and IGOs. Catholic Church, Amnesty International, World Wildlife Fund, Doctors Without Borders, Red Cross (ICRC)
119
MNE
Multinational Enterprise (aka MNC: Multinational Corporation): companies that span multiple countries, whose interests don’t necessarily align with any one state’s interests. Derives at least a quarter of its revenues outside its host country (Google, Nestle, Nike, Coca-Cola, Shell, WalMart, Sony)
120
Transnational Organization
an entity that has its services and production based out of multiple nations (Intel, IBM, Johnson & Johnson, Canon, Sony, Toyota, Shell)
121
ICJ
International Court of Justice: Settles disputes between nations and establishes the precedent for international law. Same as World Court: “the judicial arm of the UN which hears and settles cases between states in accordance with international law, and gives advisory opinions on legal questions referred to it by authorized UN organs and specialized agencies. If a state agrees to participate in a proceeding, it must comply with the Court’s decision.”
122
ICC
International Criminal Court: a permanent tribunal for war crimes and crimes against humanity. It has universal jurisdiction and can prosecute the individuals of ANY nation...that makes it controversial.
123
Why did the US not join the ICC?
The US did not join the International Criminal Court because it believed the prosecution of US citizens without the authorization of the US was an infringement of its national sovereignty, and was the sole authority of the US Supreme Court.
124
What do each of the 4 Geneva Conventions concern?
1. Established guidelines for the treatment of sick and wounded soldiers in times of war
2. Extended the same protections as above to maritime combatants
3. Established guidelines for the treatment of Prisoners of War
4. Established protections for civilians in times of war
125
Ratification
signatory formally agrees to be a member of the group and be bound by its
rules.
126
Accession
a state accepts the offer or the opportunity to become a party to a treaty already
negotiated and signed by other states
127
Signature
a means of authentication and expresses the willingness of the signatory state to
continue the treaty-making process. The signature qualifies the signatory state to proceed to
ratification, acceptance or approval.
128
Reservation
a declaration made by a state by which it purports to exclude or alter the legal effect of certain provisions of the treaty in their application to that state. AKA, exceptions to the rules. Reserving states can still be party to the agreement as long as their reservation is compatible with the object and purpose of the treaty.
129
UN Human Rights Treaties
ICERD- International Convention on the Elimination of Racial Discrimination
ICCPR- International Covenant on Civil and Political Rights
ICESCR- International Covenant on Economic, Social, and Cultural Rights
CEDAW- Convention on the Elimination of All Forms of Discrimination Against Women
CAT- Convention Against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment
CRC- Convention on the Rights of the Child
ICRMW- International Convention on the Protection of the Rights of All Migrant Workers
CED- International Convention for the Protection of All Persons from Enforced Disappearance
CRPD- Convention on the Rights of Persons with Disabilities
130
WHO
(World Health Organization): an organization based in Geneva that provides technical assistance to improve health conditions in the third world and conducts major immunization campaigns.
131
Human Rights Council
an inter-governmental body of 47 States responsible for the promotion and protection of all human rights around the globe.
132
World Court (International Court of Justice)
the judicial arm of the UN which hears and settles cases between states in accordance with international law, and gives advisory opinions on legal questions referred to it by authorized UN organs and specialized agencies. If a state agrees to participate in a proceeding, it must comply with the Court’s decision
133
UN Secretariat
The UN’s executive branch, led by the Secretary General.
134
UNSC (UN Security Council)
a body with 5 permanent member powers and 10 rotating member states that makes decisions about international peace and security, including the dispatch of UN peacekeeping forces. [5 permanent members: USA, UK, France, Russia, China. The 10 non-permanent members are elected by the GA and serve 2 year terms]
135
UNGA
(UN General Assembly): a body composed of 193 member states’ representatives that allocates UN funds, passes nonbinding resolutions, and coordinates third world development programs and various autonomous agencies through the Economic and Social Council
136
What is the UN?
The UN system is an intergovernmental organization founded in 1945 when the League of Nations failed to counter aggression leading up to WWII. It is made up of sovereign states that have not empowered the UN to enforce its will within states’ territories except with the consent of those states’ governments. Its basic purpose is to provide global institutional structure through which states can sometimes settle conflicts with less reliance on the use of force.
137
What is the significance of the Treaty of Westphalia for international relations, in two sentences?
The Treaty of Westphalia in 1648 ended the 30 and 80 years wars and established the basic rules that have defined the international system, including the sovereignty and territorial integrity of states as equal and independent members of an international system. Since then, states defeated in war have been generally allowed to continue as independent states rather than being subsumed into the winning state.
138
Domestic Regime
A domestic government of a state, generally considered illegitimate by its opposition.
Ex. The outcome of the 2020 Belarussian presidential election, where President Lukashenko sought and won another term, which many domestic actors (and international as well) have deemed fraudulent. The Lukashenko Regime is considered illegitimate by the opposition.
139
International Regime
A set of rules, norms, and procedures around which the expectations of actors converge in a certain international issue area.
Ex. The Geneva Conventions’ procedures on treatment of POWs.
140
Communism
political and economic doctrine that aims to replace private property and a profit-based economy with public ownership and communal control of at least the major means of production and natural resources. There is state ownership, central planning, bureaucratic elite, single party governance. The government sets production goals (central planning) and assigns work to each individual.
141
Current communist nations
Cuba, China, North Korea, Laos, Vietnam
142
Anti-globalists
Anti-globalists make arguments against the Washington Consensus because the neoliberalist approach is too inflexible to work in some other contexts. Anti- globalization advocates advocate for human rights and protection of natural resources in states that may be negatively impacted by forced globalization (unsafe work conditions, child labor, depletion of natural features, etc.). They believe in putting power in the hands of the people rather than market corporations.
143
The Beijing Consensus
AKA The Chinese Economic Model (1976), replaces the trust in a free market with a more hands on approach by the state for economic development. It is called neo-mercantilism because it encourages exports, discourages import, controls capital movement, and relegates currency decisions to the government. (Government controlled and regulated, regardless of supply and demand)
144
The Washington consensus
is a market-based approach to help emerging nations develop. It is sometimes called mercantilism or neoliberalism. It is a 10-step economic system that involves promoting free market policies (promotes free global trade over just domestic trade), macroeconomic stabilization, economic opening (trade), and expansion of domestic market forces. The IMF, the World Bank, and the US Treasury abide by this consensus.
145
WTO
The WTO replaced the GATT in 1995, expanding its traditional focus on manufactured goods to include services and intellectual property. It created monitoring and enforcement mechanisms and shapes the practices and expectations of over 160 member states.
146
Globalization
the increasing integration of the world in terms of communications, culture, and economics; may also refer to changing subjective experiences of space and time accompanying this process.
147
What replaced Bretton Woods?
SDR (Special Drawing Right), is a system created by IMF to replace the gold standard with floating exchange rates where a shared currency can be exchanged for other currencies within central banks owned by sovereign states.
148
GATT
(General Agreement on Tariffs and Trades: a global framework formed in 1947 that eliminated or reduced quotas, tariffs, and subsidies to promote trade; acts as an intermediary on trade disputes and clarified trade rules; replaced by the WTO in 1995.
149
World Bank
an organization established in 1944 to provide loans for the reconstruction of European economies after WWII. The main borrowers later became third world and Eastern European countries.
150
IMF
(International Monetary Fund): An intergovernmental organization that coordinates international currency exchange, the balance of international payments, and national accounts. It was formed to encourage exchange rate stability and set exchange rates.
151
Bretton Woods
The Bretton Woods system was a post WWII arrangement for managing the world economy, established in 1944 and ending in 1971. It was based on the standard of the US Dollar set equal to 1/35 oz. of gold. Its main institutional components are the World Bank and the International Monetary Fund.
152
What’s the comparative GDP per capita of the EU, the US, Germany, China, Brazil, Mexico, Chad, and Saudi Arabia?
```
EU: 4689000
US: 68309
Germany: 56960
Saudi: 48100
China: 18930
Mexico: 20000
Brazil: 15640
Chad: 1620
```
153
what’s the approximate nominal GDP of the EU? The US? Germany? China? Brazil? Mexico? Chad? Saudi Arabia? What percentage of world nominal GDP does each country represent?
World Nominal GDP: 93.86 trillion
EU: (17.1 million) or 18.24% of world nominal gdp
USA: (22.6 million) or 24.15% of world nominal gdp
China: (16.6 million) or 17.73% of world nominal gdp
Germany: (4.3 million) or 4.6% of world nominal gdp
Brazil: (1.5 million) or 1.59% of world nominal gdp
Mexico: (1.2 million) or 1.27% of world nominal gdp
Saudi Arabia: 804,921 or .86% of world nominal gdp
Chad: 12, 531 or .01% of world nominal gdp
