need to study

World Bank: be supported by the United Nations and would help expand

international trade.


IMF: be supported by the United Nations and would help expand

international trade. 

Trade Liberalization: A process that involves countries in reducing or removing trade barriers, such as tariffs and quotas, so goods and services can move around the world more freely.


Free Trade: The trade that occurs when two or more countries eliminate tariffs and taxes on the goods and services they trade with one another.

WTO: was regulating trade in services,


GATT: GATT members agreed to gradually eliminate

tariffs and other trade barriers among themselves. 


Grand Exchange: A trading process that began when Christopher Columbus brought seeds, fruit trees, and livestock to the Americas, where they were cultivated and became staples.


Industrial Revolution: The Industrial Revolution brought about dramatic economic, social, and cultural change.


Capitalism

  • Production An economic system that advocates free

  • trade, competition, and choice as a means of achieving prosperity.


Deindustrialization

  • Decline of industrial activity in region 
    Imperialism

    • Policy of extending a country's power and influence over other countries
      Mercantilism

      • Laws required a colony's raw materials to be shipped back to the home country

Transnational Corporation

  • Large company that operates in many countries

Acculturation

  • The cultural changes that occur when two cultures accommodate, or adapt to, each other’s worldviews.



 Cultural Revitalization 

  • The process of affirming and promoting people’s individual and collective cultural identity.

 Homogenization

  • The erasing of differences.


 Hybridization

  • The combining of elements of two or more different things to create something new.


 Assimilation 

  • A process that occurs when the culture of a minority group is absorbed by another culture.