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IPE Midterm 1 Study Guide.docx

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University of Waterloo
Political Science
PSCI 255
Hongying Wang

I.P.E. Midterm One Study Review Keystone International Economic Organizations Entity Composition, Mission, Activities, Role in World Economy KIEOs apart of U.N. Operate independently from U.N., have financial autonomy, operate under different rules IMF - International Monetary Fund Composition - U.N. Original Mission - Peg exchange rate to the Dollar, which was pegged to Gold ($35/ounce), provide short term loans for balance of payment deficits 1970's collapse of fixed exchange rate system, evolved into #1 agency dealing with debt and financing crises via loans and tech support World Bank - International Bank for Reconstruction and Development Original Mission - Reconstruction of European Countries, development in LDC's Evolved into: U.S. Marshall Plan for Europe, new focus on LDC's, assisted long term loans to technical assistance regarding "good government" GATT - GeneralAgreement on Tariffs and Trade Framework for International trade - reduce trade barriers (failed, org. went under in 1993) Became World Trade Organization 1995 Trade in goods in services Trade Related Intellectual Property Rights (TRIPs) Trade Related Investment Measures (TRIMs) North - North International Groups OECD - Organization of Economic Cooperation and Development Founded 1961 Industrial Democracies Promote Economic Liberalization (globalization) Coordinate Northern position on policy Issues Change occurred: New members - Mexico, Eastern European Countries, South Korea "Enhanced Engagement" with Brazil, India, China, Indonesia, etc. G5, G7, G8 G5: Japan, U.S., Germany, France, United Kingdom (1967) G7: Japan, U.S., Germany, France, United Kingdom, Italy and Canada (1975, superseding 1986) Meeting Finance ministers and political leaders G8: 1991 inclusion of Russia, but only for political meetings Gradual shift from U.S. leadership to collective North - South International Group G20: Developed in 1999 after Asian Fina
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