Superpowers glossary

Assets

Items which have economic value and may generate income in the future

ASEAN

A group of ten Southeast Asian nations formed to encourage greater cooperation and economic growth

austerity

The policy of reducing government spending and debt

ANZUS

The 1951 security agreement between Australia, New Zealand and the USA for cooperation on military matters in the Pacific

bi-polar

Two poles or centres

BRICs

The collective term for Brazil, Russia, India and China which were predicted to show rapid economic growth

colonialism

where an external nation takes direct control of a territory

consumer goods

items bought by people who use them, instead of being bought and turned into something else

culture

the ideas, beliefs, customs and social behaviour of a group

dependency theory

a theory that argues that countries that are developing remain dependent on wealthier countries, and that this relationship is the root of their poverty

economic restructuring

the shift in employment type from the primary and secondary sectors to tertiary and quaternary

EU

An economic and political organisation that acts as a trade bloc. It aims to reduce poverty and inequality between its members

foreign policies

the strategies that a government puts in place to deal with other countries

G7

A group of 7 countries that meets annually to discuss economic development

G20

an IGO that discusses key economic issues and development

geo-strategic location theory

Mackinder’s theory, which argued that whoever controlled Europe and Asia would control the world

geopolitics

the influence of geography on politics, especially international relations

global reach

the extent of geographical distance that is influenced by a product or activity

hard power

the expression of a country’s will or influence through coercive measures including economic sanctions and military force

heartland

the area of land with Mackinder believed to be pivotal for controlling the world

hegemon

a country or state that is dominant over others

intellectual property rights

the right to protect a person or company’s artistic works or inventions, without them being copied by anyone else

intergovernmental panel on climate change (IPCC)

a group whose members represent over 120 countries which monitors publications and assembles evidence, enabling UN members to understand the risks created by climate change

International Court of Justice

judicial branch of the UN that settles disputes between member states and advises on international law

IGO

an organisation whose primary role is to maintain international financial stability

IMF

a global organisation whose primary role is to maintain international financial stability

modernisation theory

a theory that believed that poverty was a trap, with traditional family values in poorer countries holding economies back, and that capitalism was the solution to poverty

multi-polar

several poles or centres

nationalise

when a company is transferred from private ownership to ownership or control by the state

neo-colonialism

describes how formerly colonised countries are now controlled indirectly through economic, cultural and political means

NAFTA

a trade bloc consisting of the USA, Canada and Mexico

NATO

an alliance which uses political consultation and military means to protect its member states

OECD

Global ‘think tank’ for 35 of the world’s wealthiest nations which aims to promote policies to improve economic and social prosperity

Park Agreement

the first legally binding global climate deal

patent

the granting of the exclusive right of ownership and possession of intellectual property by a state to an inventor for a fixed period of time

peer-reviewed

publications based on research that has been checked by experts as valid

political values

the opinions and preferences that a country has about governance

proxy war

a war instigated by a major power that is not always directly involved in the fighting

soft power

the power that arises from a country’s political and economic influence, moral authority and cultural attractiveness

sub-prime lending

the lending by banks through mortages to people who could never afford to pay them back

superpower

a country which has the power to be influential anywhere in the world

Trade Related Aspects of Intellectual Property Rights

an agreement which requires all WTO members to protect and enforce their intellectual property rights

uni-polar

one polar or centre

UN Security Council

the branch of the UN responsible for preventing conflict, which has 15 members, including 5 permanent ones, at any one time

Wallerstein’s world systems theory

a theory claiming that core regions drive the world economy and that peripheral areas rely on core regions, resulting in unequal trade

World Bank

a global organisation which uses bank deposits placed by the world’s wealthiest countries to provide loans for developing countries

World Trade Organisation

a global organisation that determines the rules for how its member states trade with each other