Economy and Reforms

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95 Terms

1
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  • refers to the process of reducing governmental control over the economy to promote free markets

    • this shift often includes lowering trade barriers, deregulating industries, and reducing state-owned enterprises

Economic Liberalization

2
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  • is an international financial institution established in 1944, alongside the IMF

    • the primary goal of this institution is to provide loans and financial assistance to countries

    • this institution had primarily a slightly different focus: reconstruction and development

World Bank

3
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  • is an international organization established in 1995 to regulate and promote global trade by ensuring fair trade practices among nations

    • replaced the General Agreement of Tariffs and Trade (GATT)

    • in 1999, this organization wanted to discuss how to reduce tariffs and lift barriers to global trade among its 134 member states

      • but suddenly protests broke out and they couldn’t discuss so negotiations were called off

World Trade Organization (WTO)

4
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  • was supposed to decrease trade barriers and increase business investment between Canada, the U.S., and Mexico

    • main goal was to promote economic cooperation and integration between the three countries

    • result: lowered wages and drove the Mexican consumer’s purchasing power down by an average of 24% - close to 700,000 jobs were lost in the US as well

North Atlantic Free Trade Agreement (NAFTA)

5
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  • is a regional organization founded in 1967 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand

    • was created to promote political and economic cooperation, ensure regional stability, and foster economic growth among its member states

Association of Southeast Asian Nations (ASEAN)

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  • was an international alliance formed in 1954 to prevent the spread of communism in Southeast Asia during the Cold War

    • was established by the United States, France, the United Kingdom, Australia, New Zealand, Pakistan, the Philippines, and Thailand

Southeast Asia Treaty Organization (SEATO)

7
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  • a post-World War II agreement signed in 1947 aimed at reducing tariffs and other trade barriers to boost global trade and economic recovery

    • aimed to create a global trade system that would foster economic recovery and prevent the protectionist policies that contributed to the Great Depression

    • was replaced by the World Trade Organization (WTO)

    • were more of a set of trade of agreements/multilateral treaty than a international organization

General Agreement of Tariffs and Trade (GATT)

8
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  • is a political and economic union of European countries that was founded to promote economic cooperation, political stability, and regional integration

    • officially began with the Treaty of Rome in 1957

    • was created after WWII to prevent further conflict by fostering economic and political cooperation in Europe

European Union (EU)

9
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  • is a global financial organization established in 1944 to stabilize international economies and promote global financial cooperation after World War II

    • is one of the pillars of neoliberal globalization

    • goal: is to allow countries to borrow from countries as a way to promote “financial stability, foster global cooperation, facilitate trade and growth, as well as reduce poverty.”

    • policies: Austerity measures (majorly - this has encouraged this on governments)

International Monetary Fund (IMF)

10
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  • refers to an international forum of 19 major economies plus the European Union that discusses global economic policy, trade, and financial stability

    • was established in 1999 in response to financial crises

G20

11
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  • refer to financial aid or support provided by the government to industries, businesses, or individuals

    • to promote economic growth, stability, or specific policies

Government Subsidies

12
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  • refer to government policies that reduce public spending and increase taxes to address economic crises (was very strict and limiting measures)

    • usually to control debt and promote economic stability

    • The IMF encouraged many govts to do this

    • resulted in mass protests in many countries and even a few deaths and thousands of injuries

Austerity Measures

13
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  • refers to a regional trade bloc in South America formed to promote economic integration and cooperation between its member countries

    • was established in 1991

Mercosur

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  • refers to the 40th President of the United States (1981–1989), whose policies had significant global and domestic impacts, particularly in the context of the Cold War, economics, and social issues

    • his relationship with the Soviet leader Mikhail Gorbachev eased tensions during the Cold War

    • he also demanded Mikhail Gorbachev to tear down the Berlin Wall

Ronald Reagan

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  • is a tax placed on imported goods to protect domestic industries from foreign competition

    • make the imported goods more expensive, encouraging consumers to buy locally produced goods

Protective Tariffs

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  • refers to an economic conflict where countries impose tariffs, quotas, or other trade restrictions on each other to gain an advantage or retaliate against economic policies

    • can lead to reduced international trade, economic struggles, and even political tensions

Trade War

17
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  • was the Prime Minister of the United Kingdom and the first woman to hold the office

    • promoted free-market capitalism, privatization of state-owned industries, and reducing the power of labor unions

    • was a strong ally of U.S. President Ronald Reagan, she opposed the Soviet Union and supported a tough stance against communism

Margaret Thatcher

18
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  • refers to a philosophy that promotes free markets, minimal government intervention, and private property rights

    • it is based on the ideas of laissez-faire economics and was heavily influenced by Adam Smith’s The Wealth of Nations (1776)

Economic Liberalism

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  • refer to economic systems where prices, production, and distribution of goods are determined by supply and demand with little to no government intervention

    • are a core principle of capitalism and are associated with economic liberalism, as promoted by thinkers like Adam Smith (The Wealth of Nations, 1776)

Free Markets

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  • was a military dictator of Chile from 1973 to 1990, known for his authoritarian rule, neoliberal economic policies, and human rights violations

    • over the socialist president of Chile, Salvador Allende

Augusto Pinochet

21
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  • was a Chinese leader who ruled from 1978 to the 1990s, known for implementing economic reforms that shifted China from a communist command economy to a market-oriented economy while maintaining strict political control

    • focused on reforming the agriculture, industry, defense, and science/technology to modernize China

Deng Xiaoping

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  • is a global infrastructure and economic project launched by China in 2013 under President Xi Jinping

    • it aims to improve trade and connectivity between Asia, Africa, and Europe by building roads, railways, ports, and other infrastructure

Road and Belt Initiative

23
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  • refers to the four rapidly industrializing and economically successful regions of South Korea, Taiwan, Hong Kong, and Singapore in the late 20th century

    • these regions experienced rapid economic growth from the 1960s to the 1990s due to export-driven industrialization, government intervention, and foreign investment

Asian Tigers

24
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  • are companies that operate in multiple countries, maintaining production, trade, or service facilities beyond their home nation

    • examples: British and Dutch East India Company

Multinational Corporations

25
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  • refers to a society in which the buying and consumption of goods and services play a central economic and cultural role

    • is often associated with industrialization, mass production, and global trade

Consumer Culture

26
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  • refer to companies and products that are recognized and sold worldwide, often shaping consumer culture and economic systems across different regions

    • are typically associated with multinational corporations and the processes of globalization, industrialization, and cultural diffusion

    • alongside the growth of multinational corporations and online retailers

    • ex. Coca-Cola and Toyota

Global Brands

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  • refers to the buying and selling of goods and services over the internet, representing a significant shift in global trade, consumer culture, and economic systems

    • is a product of modern globalization, technological innovation, and the digital revolution, impacting economies worldwide

Online Commerce

28
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  • refers to the employment of children, often in harsh and exploitative conditions, as part of economic and labor systems

    • children were paid low minimal wages and worked long hours in unsafe conditions

Child Labour

29
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  • refers to a system of work in which employees, often in developing countries, endure low wages, long hours, and poor working conditions

    • typically in industries like textiles, electronics, and manufacturing

SweatShop Labour

30
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  • refers to the forced movement, exploitation, and enslavement of people for labor, sexual exploitation, or other forms of involuntary servitude

    • has been present throughout history but remains a major global issue today, linked to economic systems, imperialism, industrialization, and globalization

Human Trafficking

31
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  • refers to the partial or total forgiveness of debt owed by nations, typically developing countries, to foreign creditors such as governments, international organizations, or banks

    • as developing nations struggle with economic instability caused by loans from wealthy countries and institutions like the International Monetary Fund (IMF) and World Bank

Debt Relief

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  • refers to the process of modifying the terms of a country’s debt to make repayment more manageable

    • can include extending repayment periods, reducing interest rates, or partially forgiving the debt

    • is often used by countries facing economic crises and is influenced by global financial institutions, economic policies, and historical patterns of imperialism and globalization

Debt Restructuring

33
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  • is an international organization founded in 1945 after World War II to promote peace, security, and cooperation among nations

    • replaced the League of Nations, which failed to prevent global conflict and promote peace amongst all nations

United Nations

34
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  • refers to the main deliberative body of the United Nations (UN), where all member states have equal representation

    • was established in 1945 as part of the UN Charter and plays a key role in global diplomacy and decision-making

General Assembly

35
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  • is the most powerful body of the United Nations (UN), responsible for maintaining international peace and security

    • was established in 1945 as part of the UN Charter and has the authority to make binding decisions that member states must follow

    • 5 permanent members:

      • the US, UK, France, Russia (formerly USSR), and China

Security Council

36
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  • is one of the main organs of the United Nations (UN), responsible for carrying out the day-to-day administrative work of the organization

    • was established in 1945 as part of the UN Charter and is led by the Secretary-General, who serves as the chief diplomat and spokesperson for the UN

    • implements decisions made by the General Assembly and the Security Council

    • admin & execution - led by the Secretary-General

Secretariat

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  • refers to the efforts of the United Nations (UN) to maintain or restore peace in conflict zones

    • this missions typically involve neutral military forces, police, and civilian personnel deployed to prevent violence, protect civilians, and assist in post-conflict rebuilding

Peacekeeping

38
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  • is a specialized agency of the United Nations (UN), founded in 1948, that focuses on global public health

    • plays a crucial role in coordinating international responses to diseases, setting health standards, and promoting medical advancements

World Health Organization

39
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  • is an international humanitarian organization founded in 1971 by French doctors and journalists

    • provides medical aid in conflict zones, natural disasters, and disease outbreaks, often working where other organizations cannot

Doctors Without Borders

40
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  • refers to political movements that prioritize environmentalism, social justice, and grassroots democracy

    • this party emerged in the late 20th century as a response to growing concerns about climate change, pollution, and sustainability

    • first of these parties were founded in West Germany (1980)

Green Party

41
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  • is a grassroots environmental and social movement founded in 1977 by Wangari Maathai in Kenya

    • purpose: mainly to combat deforestation, soil erosion, and desertification

Greenbelt Movement

42
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  • is a global treaty on climate change adopted in 2015 during the United Nations Climate Change Conference (COP21) in France

    • is a major international effort to combat global warming by reducing greenhouse gas emissions

Paris Climate Accords

43
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  • is an international treaty adopted in 1997 in Japan, aimed at reducing greenhouse gas emissions to combat climate change

    • purpose: to reduce carbon dioxide and other greenhouse gas emissions by an average of 5.2% below 1990 levels by 2012

Kyoto Accords

44
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  • was a Chinese communist revolutionary and the founding father of the People’s Republic of China (PRC)

    • was the leader of the Chinese Communist Party (CCP) until his death

    • his policies resulted in mass amounts of death and social upheaval

Mao Zedong

45
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  • aimed to rapidly industrialize China, this policy focused on collective farming and large-scale communes

    • though it resulted in a disastrous famine, causing millions of deaths

Great Leap Forward

46
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  • Mao launched this campaign to preserve Chinese communism by removing capitalist and traditional elements

    • involved purges, mass mobilization, and persecution of intellectuals, leading to widespread chaos and destruction

Cultural Revolution

47
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  • was a youth movement in China during the Cultural Revolution (1966-1976), led by Mao Zedong

    • was formed in 1966, as part of Mao's effort to reassert control over the Chinese Communist Party (CCP) and eliminate perceived threats to his authority

Red Guard

48
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  • refers to a large public space in Beijing, China, that became the focal point of a pro-democracy protest in 1989

    • the protest, which was primarily led by students but supported by a broad cross-section of society, called for political reform, freedom of speech, and an end to government corruption

    • the protests began in April 1989

Tiananmen Square

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  • is a milestone document adopted by the United Nations General Assembly on December 10, 1948

    • this document outlines a set of fundamental human rights that should be protected for all people, regardless of nationality, ethnicity, religion, or any other status

    • was created after World War II and the atrocities of the Holocaust (aimed to promote global peace and justice)

Universal Declaration of Human Rights

50
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  • refer to the basic rights and freedoms that all individuals are entitled to simply because they are human

    • these rights are considered universal, meaning they apply to all people, regardless of nationality, ethnicity, religion, or any other status

    • these rights also are focused on ensuring dignity, equality, and the protection of individuals from abuses of power

Human Rights

51
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  • is a global organization that was created in 1946 by the United Nations to provide emergency food, healthcare, and assistance to children in need after the devastation of World War II

    • its mission expanded to promoting the rights and well-being of children worldwide

United Nations International Children’s Emergency Fund (UNICEF)

52
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  • refers to the international movement advocating for gender equality, women's rights, and the empowerment of women across different cultures and societies

    • continues to challenge the systems of patriarchy, capitalism, racism, and colonialism

Global Feminism

53
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  • refer to individuals who are forced to flee their home countries due to fear of persecution, armed conflict, violence, human rights violations, or other life-threatening conditions

    • they mainly want to seek protection in other countries or territories

Refugees

54
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  • is the principal judicial body of the United Nations

    • it was established in 1945 and is located in The Hague, Netherlands

International Court of Justice

55
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  • refers to the systematic separation of people based on characteristics such as race, ethnicity, religion, or social class

    • is typically enforced through laws, customs, or government policies and is often linked to the ideology of inequality and discrimination

    • one of the most prominent types of this is racially

Segregation

56
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  • was a significant movement during World War II that was led by African Americans to achieve two victories: one abroad over fascism and totalitarianism in Europe and the Pacific, and one at home over racism and racial segregation within the United States

    • this campaign began in 1942 and was popularized by the Pittsburgh Courier, a major African American newspaper

Double V Campaign

57
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  • is a significant figure in the American Civil Rights Movement, known for her role in sparking the Montgomery Bus Boycott in 1955

    • her refusal to give up her seat in the Montgomery Bus Boycott symbolized her opposition to racial segregation

    • her act of civil disobedience became a pivotal moment in the struggle against racial segregation and discrimination in the United States

Rosa Parks

58
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  • was a prominent African American intellectual, civil rights activist, and sociologist

    • he is best known for his leadership in the early 20th century movement for racial equality and his advocacy for the education and empowerment of African Americans

WEB Dubois

59
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  • is one of the most significant figures in the American Civil Rights Movement

    • his leadership and commitment to nonviolent resistance played a pivotal role in the fight for racial equality in the United States during the 1950s and 1960s

    • majorly was inspired by Mohandas Gandhi’s teachings

    • delivered his iconic “I Have A Dream” speech in the steps of the Lincoln Memorial in Washington D.C.

Dr. Martin Luther King Jr

60
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  • was a Jamaican political leader, activist, and founder of the Universal Negro Improvement Association (UNIA), which played a significant role in the development of Black nationalism and Pan-Africanism in the early 20th century

    • his vision of Pan-African unity and self-determination continues to inspire activists and leaders worldwide, particularly those fighting against racial inequality and colonialism

Marcus Garvey

61
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  • was a landmark U.S. Supreme Court case that legalized racial segregation and established the doctrine of "separate but equal"

    • this case played a crucial role in the history of racial discrimination in the United States and had long-lasting effects on African Americans and their civil rights

Plessy v Ferguson

62
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  • is one of the most important U.S. Supreme Court cases in history, as it declared racial segregation in public schools unconstitutional and effectively overturned the Plessy v. Ferguson decision of 1896

    • had a profound impact on fighting for racial equality in the United States

Brown v Board of Education

63
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  • was a year-long boycott of the Montgomery, Alabama, public bus system, triggered by the arrest of Rosa Parks and led by figures like Dr. Martin Luther King Jr

    • In December 1955, Rosa Parks, an African American woman, was arrested for refusing to give up her seat in the "whites-only" section of a bus in Montgomery, Alabama, as required by the city’s segregation laws

    • was a key example of nonviolent resistance

Montgomery Bus Boycott

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  • refers to a system of racial segregation and discrimination in the United States, particularly in the American South from the late 19th century until the Civil Rights Movement in the 1960s

    • were state and local laws that legalized racial segregation and discrimination against African Americans

Jim Crow

65
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  • refers to a discriminatory practice, primarily in the 20th century, where banks, real estate companies, and government agencies denied loans or services to certain racial or ethnic groups, often in urban areas

    • was named after the literal red lines drawn on maps to mark neighborhoods where minorities, particularly African Americans, were denied housing and financial services

Red Lining

66
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  • was a landmark law that outlawed racial segregation and discrimination in public places, employment, and education

    • fought against the racial injustice, particularly against African Americans

Civil Rights Act

67
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  • was a major U.S. law that banned racial discrimination in voting, especially targeting practices like literacy tests and poll taxes that had been used to suppress Black voters, particularly in the American South

    • strengthened the Civil Rights Movement by ensuring a greater political representation for African Americans

Voting Rights Act

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  • is an individual who legally belongs to a state or nation and has certain rights and responsibilities under its government

    • ex. Civil Rights Movement and globalization & migration

Citizen

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  • refers to a system where only certain groups of people have full political rights and participation, while others are excluded based on factors like gender, class, race, or wealth

    • ex. social hierarchy and inequalities

Limited citizenship

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  • refers to individuals or groups who lack official citizenship in any recognized country, meaning they have no legal rights or protection from a state

    • can also refer to societies that operate without a centralized government

Stateless

71
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  • was a system of racial segregation and discrimination enforced by the South African government from 1948 to 1994

    • legally classified people into racial groups (White, Black, Coloured, Indian) and restricted the rights of nonwhite South Africans, particularly Black Africans

Apartheid

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  • were a system of internal passport regulations used in South Africa during apartheid to restrict the movement of nonwhite South Africans, especially Black Africans

    • these laws were a key tool of racial segregation and oppression

Pass Laws

73
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  • was a South African anti-apartheid leader, political prisoner, and the first Black president of South Africa (1994–1999)

    • played a key role in ending apartheid and promoting racial reconciliation in South Africa

Nelson Mandela

74
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  • is a political party in South Africa that played a central role in the struggle against apartheid and the fight for Black rights

    • was founded in 1912 to advocate for the political and civil rights of Black South Africans, who were marginalized under both British colonial rule and the later apartheid regime

African National Congress

75
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  • was the last white president of South Africa, serving from 1989 to 1994

    • his actions were crucial in bringing about the end of institutionalized racial segregation, even though he was a member of the National Party, which had enforced apartheid for decades

F.W. de Klerk

76
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  • was a South African body established after the end of apartheid to help the country address the human rights abuses that occurred during apartheid and promote healing and national unity

    • operated from 1996 to 2003 under the leadership of Archbishop Desmond Tutu, and it was part of the broader effort to transition from a system of racial segregation to a multiracial democracy

Truth and Reconciliation Commission (TRC)

77
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  • are individuals who belong to the lowest caste in India's traditional caste system

    • were subjected to extreme social discrimination, exclusion, and violence, considered outside of the caste hierarchy altogether

    • were known as the “Untouchables”

Dalits

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  • refers to a series of protests, uprisings, and revolutions that took place across the Arab world in the early 2010s, with the goal of overthrowing authoritarian regimes, improving political freedoms, and addressing social and economic grievances

    • began in December 2010 and lasted into the early 2010s, affecting multiple countries in the Middle East and North Africa (MENA) region

Arab Spring

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  • is an international network of organizations that work to promote fair trade practices globally (founded in 1989)

    • goal: is to support the development of marginalized producers and ensure that they receive fair wages, safe working conditions, and environmental sustainability

World Fair Trade Organization (WFTO)

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  • is a social movement that began in 2017 to raise awareness about the widespread prevalence of sexual harassment and assault, particularly in the workplace

    • aims to support survivors of sexual violence, challenge the patriarchal systems that enable such behavior, and advocate for gender equality and justice

Me Too Movement

81
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  • is a social and political movement that began in the United States in 2013 to address the systemic racism, police brutality, and racial injustice that Black people face, particularly in relation to law enforcement

    • was founded by Alicia Garza, Patrisse Cullors, and Opal Tometi after the acquittal of George Zimmerman, who shot and killed Trayvon Martin, an unarmed Black teenager, in 2012

Black Lives Matter Movement

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  • refers to a global protest movement that began in 2011, centered around issues of economic inequality, corporate greed, and the disproportionate power of wealthy elites

    • the movement is best known for its slogan "We are the 99%", which highlights the economic disparity between the wealthiest 1% of the population and the rest of society

Occupy Movement

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  • refers to a major protest that took place in 1999 in Seattle, Washington, during the World Trade Organization (WTO) Ministerial Conference

    • considered a key movement in the global anti-globalization, where tens of thousands of activists, labor unions, environmental groups, and civil society organizations gathered to protest the WTO's policies and the broader effects of global capitalism

Battle of Seattle

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  • refers to a global network of independent media organizations that emerged in the late 1990s as part of the anti-globalization and activist movements

    • was founded in 1999 during the Battle of Seattle, and it aimed to provide an alternative to the mainstream media by offering a platform for grassroots activism, social justice, and countercultural perspectives

Indymedia

85
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  • refers to a Brazilian social and political movement that emerged in the late 1970s and early 1980s

    • was a key player in the fight for Black rights, racial equality, and social justice in Brazil, particularly in response to the history of slavery and racial discrimination faced by Afro-Brazilian communities

Movimento Negro Unificado

86
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  • is a prominent indigenous rights organization in Ecuador that advocates for the rights, land, and culture of Ecuador's indigenous peoples

    • founded in 1986

CONAIE

87
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  • is a Guatemalan indigenous woman, known for her advocacy of indigenous rights and social justice

    • her work focuses on improving the lives of indigenous peoples in Guatemala and throughout Latin America

Rigoberta Menchu

88
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  • refers to the United Kingdom's (UK) decision to leave the European Union (EU), following a referendum held on June 23, 2016, where the majority of British voters (51.9%) voted in favor of leaving the EU

    • the process of the UK leaving the EU began after the referendum and concluded with the formal departure on January 31, 2020, after years of negotiations and political debates

Brexit

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  • a revolutionary leftist group based in the Chiapas region of Mexico

    • declared themselves autonomous (independent) from the Mexican government

    • started their own farming cooperatives, built their own schools and even operated their own government centers

    • was affected the worse by the NAFTA before they declared themselves independent

Zapatistas

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  • refers to the United Nations agency dedicated to combating global hunger and ensuring food security for vulnerable populations around the world

    • works in emergency situations and long-term development programs to provide life-saving food assistance and support sustainable development to reduce hunger and malnutrition

World Food Program (WFP)

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  • is a global non-governmental organization (NGO) that focuses on protecting human rights and advocating for justice around the world

    • founded in 1978, conducts extensive research, documentation, and advocacy work to highlight human rights abuses and pressure governments and international organizations to take action

Human Rights Watch (HRW)

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  • is a global human rights organization that works to protect individuals and communities from human rights abuses and to advocate for justice and accountability

    • founded in 1961 by Peter Benenson, focuses on researching and documenting human rights violations and campaigning for the release of prisoners of conscience, as well as pushing for justice for victims of torture, discrimination, and unjust imprisonment

Amnesty International

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  • is a global humanitarian organization that provides emergency assistance, disaster relief, and education in the field of humanitarian aid

    • founded in 1863 by Henry Dunant in Switzerland, was created in response to the suffering caused by war and the need for neutral humanitarian care during conflicts

The Red Cross

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  • is a UN agency that is dedicated to protecting and supporting refugees, as well as addressing statelessness and internally displaced persons (IDPs)

    • founded in 1950 in the aftermath of World War II, the primary goal is to ensure that refugees are provided with basic human rights, protection, and assistance during displacement and in efforts to resettle and rebuild their lives

United Nations High Commissioner for Refugees (UNHCR)

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  • refers to a non-profit, voluntary group that operates independently from government influence and is typically focused on addressing social, political, environmental, or humanitarian issues

    • play a crucial role in advocating for human rights, providing relief during crises, supporting sustainable development, and promoting social change around the world

Non-Governmental Organization (NGO)