AP Comparative Government Unit 5 Index Cards

Economic globalization

The spread of trade, transportation, and communication systems around the world in the interests of promoting worldwide commerce

Economic Liberalization

the process of limiting the power of the state over private property and market forces

neoliberal economic policy

policies which seek to limit governments' role in setting economic policy

International Organization

An alliance of two or more countries seeking cooperation with each other without giving up either's autonomy or self-determination.

ex. UN

supernational organization

Organization of three or more states to promote shared objectives.

Ex. EU

Multinational Corporation

An organization that manufactures and markets products in many different countries and has multinational stock ownership and multinational management

Ex. Shell Oil

Global market forces

Organizations navigate the complexities of global markets, including competition, trade regulations , and cultural differences.

-Apple and Toyota

special economic zones (SEZs)

specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business and investment

foreign direct investment

Investment made by a foreign company in the economy of another country.

Maquiladoras

The term given to zones in northern Mexico with factories supplying manufactured goods to the U.S. market. The low-wage workers in the primarily foreign-owned factories assemble imported components and/or raw materials and then export finished goods.

privatization

To change from government or public ownership or control to private ownership or control.

ex. China and SEZs

Mexico and privatizing oil

Nigeria and allowing foreign company collaboration

UK and privatizing businesses

nationalization

Changing something from private to state ownership or control

ex. Russia and nationalizing oil

World trade organization

International organization that regulates international trade.

World Bank

A specialized agency of the United Nations that makes loans to countries for economic development, trade promotion, and debt consolidation. Its formal name is the International Bank for Reconstruction and Development.

North Atlantic Treaty Organization

An international organization that has joined together for military purposes (NATO)

European Union

An international organization of European countries formed after World War II to reduce trade barriers and increase cooperation among its members.

Economic Community of West African States (ECOWAS)

The West African regional organization, including 15 member countries from Cape Verde in the west to Nigeria and Niger in the east.

sovereignty

Ability of a state to govern its territory free from control of its internal affairs by other states in its borders

Import substitution industrialization (ISI)

The use of trade barriers to keep certain products out of one's country so that domestic industry can emerge and produce the same goods.

Tariff

A tax on imported goods

environmentalism

A social movement dedicated to protecting the earth's life support systems for us and other species.

austerity

Great self-denial, economy, discipline; lack of adornment

trade liberalization

the process of reducing barriers to trade

emigration

movement of individuals out of an area

migration

A movement from one country or region to another

brain drain

the loss of highly educated and skilled workers to other countries

hukou system

A longstanding Chinese system whereby all inhabitants must obtain and carry with them residency permits that indicate where an individual is from and where they may exercise particular rights such as education, health care, housing, and the like.

rentier state

A country that obtains much of its revenue from the export of oil or other natural resources.