TCW - THE GLOBAL ECONOMY

Global Economy

The combined economies of all countries considered as one giant economic system.

Interdependence of Nations

The concept that countries are economically reliant on one another, where the collapse of one can affect others.

Globalization

The process of increasing economic interdependence and integration among countries.

Oil

The most traded product in the world, significantly impacting the global economy and influencing costs of transportation and goods.

International Economic and Financial Organizations

Entities that facilitate global economic cooperation and financial stability.

International Governmental Organizations (IGOs)

Organizations composed of member states that work together on common issues.

Media

The means of communication that can influence public perception and understanding of the global economy.

Multilateral Development Banks

Financial institutions that provide loans and grants to countries for development projects.

Nation-States

Political entities characterized by defined territories and governments that participate in the global economy.

Non-Governmental Organizations (NGOs)

Organizations that operate independently from government influence, often focusing on social, environmental, or humanitarian issues.

Trans-National Corporations (TNCs)

Companies that operate in multiple countries, influencing global trade and economics.