Global Economy and World-System Theory - Flashcards

Fill-in-the-blank flashcards covering key concepts from the lecture notes on the global economy, world-system theory, actors, and Philippines infographic context.

The global economy encompasses the __ of goods and services worldwide.

production, distribution, and consumption

World-System Theory was created by __ in the 1970s.

Immanuel Wallerstein

Core countries are the most __ and economically developed nations.

industrialized

Semi-periphery countries act as a __ between the core and periphery.

buffer

Core countries exert significant influence on global economics and politics; they are the most __ nations.

industrialized

Periphery countries are the least developed nations, often reliant on the core countries for __.

economic support

Actors that facilitate economic globalization include the IMF and __ (MDBs), Transnational Corporations, and Global Civil Society.

Multilateral Development Banks

Multilateral Development Banks offer grants, guarantees, credits and low-cost loans to Borrowing Member Countries (BMCs) to achieve __ goals.

development

Transnational Corporations set up factories in developing countries as land and labour are __ there.

cheaper

Global Civil Society refers to nongovernmental groups such as Amnesty International, Greenpeace, and the International Labour Organization as well as less formal networks of activists and __.

citizens

IMF promotes global financial stability, offers financial assistance, and advises on __ policies.

economic

The __ markets drive continued growth in the global economy.

emerging

Effective global collaboration will be crucial in addressing shared economic challenges and ensuring a __ future.

prosperous

Sustainable Development focuses on environmental sustainability and social __.

equity

In the Philippines infographic task, you must include Exports and Imports, Role of OFWs, Foreign Businesses in the PH, Effects of Globalization, and your __.

personal opinion

OFWs contribute to the economy through __.

remittances

The Philippines hosts foreign __ seeking to invest and operate.

businesses

Globalization has both __ effects.

positive and negative

Your infographic must include: Exports and __.

Imports

The World-Systems Theory divides countries into Core, Semi-periphery, and __.

Periphery