Unit 2 Flashcards
(139 cards)
1
Q
globalization
A
process of interaction and integration among people, companies, and governments worldwide
2
Q
decoupling
A
separation of two or more interconnected systems/economies
3
Q
mercantilism
A
economic policy where nations sought wealth by maximizing exports and minimizing imports to accumulate gold and power
4
Q
Conquistador
A
Spanish conquerors (16th century) who claimed territories in the Americas.
5
Q
Capitalism
A
Economic system based on private ownership and profit motive.
6
Q
Physiocrats
A
18th-century French economists advocating agriculture as the source of wealth –> criticized mercantilism, advocated capitalism
7
Q
François Quesnay
A
Leader of the Physiocrats; developed the Tableau Économique (earliest attempt to describe how economy functions)
8
Q
Adam Smith
A
Scottish economist (1723–1790), father of capitalism, author of The Wealth of Nations
9
Q
Turgot
A
French economist and reformer, early advocate of free markets.
10
Q
Communism
A
political/economic ideology advocating for a classless society, all property is public
11
Q
Industrialization
A
process of developing industries in a country or region (rural –> urban)
12
Q
Industrial Revolution
A
18th–19th century shift to mechanized manufacturing starting in Britain
13
Q
Wage industries
A
Sectors of the economy where workers are paid wages for their labor
14
Q
Cottage Industries
A
Small-scale, home-based manufacturing before industrialization
15
Q
Eurocentrism
A
Europeans = better
16
Q
imperialism
A
Policy of extending control over other territories politically and economically
17
Q
Colony
A
Territory under political control of another country
18
Q
Protectorate
A
Territory controlled and protected by a stronger state but retaining some autonomy
19
Q
Sphere of influence
A
Region where one nation has significant cultural, economic, military, or political INFLUENCE.
20
Q
White Man’s Burden
A
a phrase used to justify imperialism as a noble enterprise
21
Q
Motives of imperialism
A
economic gain, political power, cultural superiority
22
Q
Old Imperialism
A
15th–17th century European overseas expansion focused on trade and colonies
23
Q
New Imperialism
A
Late 19th–early 20th century aggressive territorial expansion for resources and power
24
Q
Paternalistic
A
Governing colonies in fatherly manner, restricting their freedoms, so its BAD
25
Indian Acts
Canadian laws regulating Indigenous peoples --> very BAD (put indigeneous in residential schools, assimilation)
26
Mahatma Gandhi
Indian leader who led nonviolent resistance against British colonial rule in early 1900s
27
What was British rule in India?
1858–1947 period of British colonial governance over India
28
Redress
Compensation or remedy for wrongs or injustices
29
NAFTA
North American Free Trade Agreement (1994) promoting trade between US, Canada, Mexico
30
Floating Exchange Rates
Currency values determined by market forces, not fixed by governments
31
Proportional Shares
Distribution of costs or benefits based on percentage contributions
32
Deng Xiaoping
Chinese leader who initiated economic reforms and opened China (1978)
33
Mutual Fund
a way for many people to put their money together (pool it) so that a professional manager can invest it in a mix of different things—like stocks, bonds, or other assets
You and other investors put your money together --> becomes a big pool of money --> fund manager invests --> if investments go up, you gain money
34
Margaret Thatcher
UK Prime Minister (1979–1990) known for conservative economic reforms --> proponent of capitalism
35
GATT
General Agreement on Tariffs and Trade (1947–1994), precursor to the WTO
36
FTA
Free Trade Agreement removing tariffs between member countries
37
CIDA
Canadian International Development Agency, responsible for foreign aid (merged into Global Affairs Canada in 2013)
38
Capital-Intensive Production
Manufacturing requiring large investment in machinery and technology
39
Labour-Intensive Production
Production relying heavily on human labor
40
Foreign Direct Investment
Investment by a company from one country into business operations in another
41
Intermodal Transportation
Moving goods using multiple transport modes (ship, rail, truck) seamlessly
42
MERCOSUR
South American trade bloc including Argentina, Brazil, Paraguay, Uruguay
43
IEG
Independent Evaluation Group at the World Bank assessing development projects
44
IDA
International Development Association, part of the World Bank offering low-interest loans to poor countries
45
Austerity Programs
Government policies to reduce spending and debt, often through cuts
46
Knowledge Economy
Economy based on information, technology, and intellectual capabilities
47
OECD
Organisation for Economic Co-operation and Development, a group of wealthy countries promoting economic policies
48
Arctic National Wildlife Refuge
Protected area in Alaska known for wildlife and controversial oil drilling debates
49
Physiographic Regions of Canada
Distinct natural land regions shaped by geology and climate (e.g., Shield, Lowlands)
50
National Energy Policy:
Canadian government plans to manage energy resources and consumption
51
Genuine Progress Indicator (GPI)
Measure of economic progress including social and environmental factors
52
UNICEF
UN agency focused on children’s health, education, and rights
53
UN Human Development Index (HDI)
Composite measure of life expectancy, education, and income
54
UN Convention on the Rights of the Child
International treaty protecting children’s rights (1989)
55
UN Inter-Agency Network on Women and Gender Equality
UN network promoting gender equality
56
WIEGO
Women in Informal Employment: Globalizing and Organizing, supporting informal women workers
57
GROOTS
group organized to help low income communities benefit from globalization
58
Green Revolution
Mid-20th century agricultural innovations boosting crop yields worldwide
59
Department of Foreign Affairs and International Trade
Former Canadian department managing diplomacy and trade (now Global Affairs Canada)
60
The Commonwealth
Voluntary association of former British Empire countries promoting cooperation
61
AU
African Union: Continental organization promoting African unity + development
62
La Francophonie
International organization of French-speaking countries
63
assimilation
Forcing a group to abandon its culture and adopt the dominant one
64
acculturation
Cultural change through contact between groups, with some traits adopted or exchanged
65
integration
Joining with main culture while retaining aspects of own original culture
66
accomodation
Mutual cultural adjustment without full assimilation --> coexistence
67
marginalization
Excluding/ignoring a group socially, politically, or economically
68
trading bloc
Group of countries that reduce or eliminate trade barriers among members (ex. EU, NAFTA, AU)
69
coalition
Temporary alliance for combined action, often political or military
70
John Stuart Mill
19th-century British philosopher who advocated for individual freedom and liberalism
71
Karl Marx
19th-century German thinker, critiqued capitalism, co-authored The Communist Manifesto
72
subsidies vs subsidiary
subsidies: government expenditure that benefits an individual/business/institution
subsidiary: a branch/division of a company
73
benefits of globalization
- improved quality of life
- diverse food/clothing
- economic benefit for transnational corporations
- efficient communication
74
disadvantages of globalization
Cultural
- loss of cultural identity
- ignorance of 'lowly' cultures
- loss of pride within local community for traditional practices
Social:
- generation gap
- protests on social injustice
Environmental:
- environmental degradation
Political:
- transnationals control gov.
75
quality of life vs standard of living
Quality:
- multidimensional measure of individual wellbeing
- health, psychological state, literacy rates, basic necessities
Standard:
- economic measure of wellbeing: measure of quantity and quality of goods + services to which one has access
76
standard of living
economic measure of wellbeing: measure of quantity and quality of goods + services to which one has access
77
TNCs
Transnational corporations
78
GDP vs GNP vs GNI
GDP (Gross Domestic Product): Measures total value of goods/services produced within a country's borders, regardless of who owns the assets (domestic or foreign).
GNP (Gross National Product): : Measures total income earned by a country's residents and businesses, including income from abroad, but excluding income earned by foreigners within the country. (outdated)
GNI: GDP + net income from abroad (updated)
79
rank included/excluded for GDP/GNP/GNI: Canadian Citizen in Canada
GDP: included
GNP: included
GNI: included
80
rank included/excluded for GDP/GNP/GNI: Foreign nationals in Canada
GDP: included
GNP: excluded
GNI: excluded
81
rank included/excluded for GDP/GNP/GNI: Canadian nationals outside Canada
GDP: excluded
GNP: included
GNI: included
82
Bretton Woods Agreeement
July 1st 1944
- 44 delegates
- US New Hampshire
- created IMF, WTO, World Bank
- the Gold Standard, fixed exchange rate
83
World Bank
184 members
- long term finance, defined status of HIPC
- IBRD, IDA
- BIS (Bank for International Settlements): bank for central banks --> faster financial cooperation
- decrease poverty by facilitating trade
84
of countries in IMF + What is IMF
189
- short-term finance
- control exchange rates
85
former name of WTO
GATT (General Agreement on Tariffs and Trade) in 1947
86
WTO
World Trade Organization, 1995, succeed GATT, enforce trade rules
87
OIC (Organisation of Islamic Cooperation)
Group of Muslim-majority countries promoting solidarity and cooperation
88
Social Darwinism
Misapplication of Darwin’s ideas to justify racial and class hierarchies and imperialism
89
King Leopold's Belgium Rule in the Congo
Brutal colonial regime (1885–1908) where millions died under Leopold's exploitation of resources and labor
90
1764 Treaty of Niagara
Agreement between Indigenous nations and the British affirming Indigenous sovereignty and friendship (related to the Royal Proclamation of 1763)
91
Numbered Treaties
Eleven treaties (1871–1921) between Canada and Indigenous peoples, exchanging land for rights and benefits
92
Stakeholder
Individual or group with an interest or investment in a decision, policy, or outcome
93
bad thing about resource development
environmental issue (deforestation...)
94
OPEC stands for + aim
Organization of Petroleum Exporting Countries
regulate oil production and markets
95
OPEC formation date + # of members
1960 ; 13
96
CITES stands for + aim
Convention of the International Trade in Endangered Species on wild flora and fauna
- discourage trading endangered animals/plants
- make poaching illegal
97
Kyoto Protocol
international treaty to reduce greenhouse gas emissions
98
FMA
Forest Management Agreements
99
crown corporation
Government-owned companies (Bank of Canada, CBC)
100
repatriation
process of returning people/cultural artifacts back to place of origin
101
comparative advantage
country's ability to produce a product with comparatively fewer resources than another country
102
Trade Bloc EU members
Europe
103
Trade Bloc MERCOSUR members
South America (Argentina, Brazil, etc.) --> Venezuela joined in 2012 but was suspended in 2016
104
Trade Bloc NAFTA members
North America
105
Trade Bloc ASEAN members
Southeast Asia
106
Trade Bloc APOEC members
Asia-Pacific
107
Trade Bloc BRICS members
Brazil, Russia, India, China, South Africa
108
Trade Bloc CAN members
Bolivia, Columbia, Ecuador, Peru
109
What does EU have that is interesting
flag, anthem, currency, founding date
110
World Bank has what again
IBRD: International Bank for Reconstruction and Development (low/middle income countries)
IDA: International Development Association (poorest countries)
111
Bad things about WTO
- amalgamation of cultural diversity
- political influence of developed countries
112
HIPC
heavily indebted poor countries
113
HIPC Debt initiative 1996
IMF–World Bank program offering debt relief to heavily indebted poor countries to support development and poverty reduction
114
John Maynard Keynes
- believe in government involvement (socialism)
115
Friedrich Hayek
- believe in capitalism
- wrote "Road to Serfdom"
116
Thomas Friedman
author who writes about globalization and its effects on modern economy
- wrote "The World is Flat"
117
Containerism
Shipping goods via standardized containers to transshipment terminals at strategic global hubs for efficient transfer and distribution.
118
Maquiladora Zone
Industrial area along the US-Mexico border with foreign-owned factories (maquilas) benefiting from tariff advantages to strengthen cross-border manufacturing
119
G8 countries
Canada, US, UK, France, Germany, Italy, Japan, Russia (later kicked out)
120
accomodation vs integration
accomodation: distinct and coexist
integration: adopts some while preserving original
121
Beothuk
1500s --> Beothuk population: ~500/1000 ppl --> Europeans explored Newfoundland --> harvest fish from North Atlantic, had summer fishing villages --> returned to homelands before winter --> limited contact
HOWEVER
permanent settlement in Newfoundland --> blocked Beothuk access to sea --> Beothuk forced to move inland --> Europeans overhunted caribou --> Beothuk retaliated and were killed --> also had to fight disease of tuberculosis --> now extinct
122
who was Shawnadithit
last existing Beothuk!!!
123
Potlatch
Indigenous Northwest feast for gift-giving, status, and community bonding. Banned in Canada (1884–1951)
124
Global Village (Marshall McLuhan)
Idea that electronic media will shrink the world, connecting people instantly across distances
125
Hybridization
Mixing of cultures creating new, blended cultural forms (Metis = First Nation woman + French man)
126
Media Transnational
Media companies operating across multiple countries (Walmart, Burger King, Home Depot)
127
Media Consolidation/convergence
Big media companies formed by merging media companies
128
CRTC
Canadian Radio-television and Telecommunications Commission, regulates Canadian broadcasting and telecommunications
129
CanCon
Canadian Content rules ensuring a minimum amount of Canadian-produced media
130
SRC
Societe Radio-Canada, French-language network
131
AMMSA and APTN
Aboriginal ppl media
132
Secularism
separation between government and church
133
recession
A significant decline in economic activity across the economy lasting several months
134
human capital
the knowledge, skill, and talents that workers have
135
trade liberalization
reducing barriers to trade
136
outsourcing
company hires another company to fulfill certain tasks in production
137
stewardship
caring for environment to benefit future generations
138
plebiscite
a direct vote in which entire electrote can express will of ppl
139
referendum
a binding vote in which the entire electroate votes to accept/reject proposal
