20.1

IMF

makes loans to countries as long as they follow a set of instructions, but critics argue this damages the autonomy of a country.

Deindustrilizaiton

has led to an interdependence between core and semiperiphereal coutnries by creating global supply chains.

Comparitive advantage

- The relative cost advantages for producing certain goods and services for trade.

Deindustrilization

has led to more tertiary secotr jobs with lower incomes and fewwer benefits to core countries.

INterest rates

affect lending affect lending to businesses and consumers, imacting job creation.

WTO

- supranaztionatol organization with 164 member countries, prividing governments with forums to negotiate trade agreements, settle disputes, and oversee trade rules.

NAFTA

(USMCA)- Free trade agreements are neoliberal policies reducing the trade barriers with a common set of trading rules.

Supranational organizations

have been made to support neoliberalism, improve economic development by removing trade barriers within the countries examples: Mercosur, NAFTA, SADC, EU.

Complementary advantage

- When trade is mutually beneficial for both countries, as they are trading for things the other has a lot of demand for with the right supply.

innovation

Quality and can suffer when there is less competition in the market.

Globalization

and trade increase efficiency and openning new markets, lesser poverty, higher global economic growth, more jobs and improved quality of lfie.

Comparitive advantage

The relative cost advantages for producing certain goods and services for trade

NEOLIBERAL POLICIIES

Beliefs open markets and free trade will lead to a developed world

NAFTA (USMCA)

Free trade agreements are neoliberal policies reducing the trade barriers with a common set of trading rules

WTO

supranaztionatol organization with 164 member countries, prividing governments with forums to negotiate trade agreements, settle disputes, and oversee trade rules

INTERNATIONAL MONETARY FUND

189 countries organization enabling countries and citizens to conduct business with each other

supranational organizations have been made to support neoliberalism, improve economic development by removing trade barriers within the countries examples

Mercosur, NAFTA, SADC, EU

Governments will also try to develop growth poles

places of economic activity clustered around one or more high growth industries stimulating eocnomic growth