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POLD89H3 Study Guide - Final Guide: Hegemony, World Trade Organization, Mercantilism


Department
Political Science
Course Code
POLD89H3
Professor
Waldemar Skrobacki
Study Guide
Final

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Emerging economy – (emerging markets) are refers to nations with social and or
business activities tht is in the process of rapid growth and industrialization. The largest
of these types economies is India nd china. Though emerging economies are found in
developing world or global south ,these nations are nations are in process of
development. This is mainly due to benefit with of being incorporated into the
globalization process.
Silent spring- 1962 published by Rachel carson - it showed the harmful effect of
pesticide on bird life particularly DDT- the book mainly discussed harmul effects of
pesticide on birdlife nd pesticide - 4chps books focused on impact of pesticide
poisoning had on humans which led to several illness such as cancer – she also
predicted tht pest will develop resistance to pesticides and pesticides will have negative
detrimental more impact on ecosystems. The direct impact it had was the environmental
defence fund filed case angst the us govt 1967 suing for citizenship right to clean
environment won in 1972- which led to eventual complete phasing out of DDTs. This
book cam at a time of 1960 when environment an intl issue and combined anti-
pollutionist and conservationist agendas.
Brain drain- refers to migration of highly educated and or trained proffesionals frm
poorer regions to wealthier areas or poor coutries to wealthier countries in search of
beter job opportunities and pay. This is a huge impact on dev of poorer reegions and
orcountries bc it drains the professional they need to have in order to develop the poorer
areas. Ex- in African 70,000 educated professionsls on avrg leave to western Europe
Canada and Us seeking better opportunities each year.
Bretton wood system- implemed following the brettonwood conference held btw july
1st- july 22nd 1944 in which delegates frm 40allied nations gathered to implement a new
intl financial order. They agreed upon the Bretton wood system on the final day and
crucial to the system was the implementation of a new intl monetary system which
required the exchange rates of other countries befixed in terms of the US dollar , and the
Us dollar value befixed in terms of gold at $35 per ounce. Further the Bretton wood
system was implentd with the objective of preventing another great financial disaster
1930 Great depression. Led to creation of other institutions such as World Bank –created
to help European countries re- develop following WW2) next institution created IMF-
created to implement the rules of new financial sytsem and stabilize the exchange rates-
Ex Gatt replaced by WTO in 1995. In aug 15 1971 th US unilaterally decided that the Us
dollar was no longer going to e fixed to the Gold( Nixon Shock) ending the brettonwood
system and creating an era of Free floating currencies. This instution created from
Bretton wood system perputated a cycle created by colonialization in global south which
lead these nations in much more difficult path in terms of industrialization and dev
economic progress, independence frm nations of global north.
Brundtland commission 1987- also knwn as world commission on environment and
development. This brought to the nege that impact of growth / progress is having on our
natural resources and environment. The main objective here of the commission was to
shift focus frm just growth to sustinaable devleopement. They published our common

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future, which coined the term sustainable development- term refers to “meeting the
needs of presence without compromising the ability of future generations of meeting their
needs.” This highlights how the environment particularly maintaining of our natural
resources becoming more important and central global issue in terms of governance
maintence.
Cold war - happened btw 1945- 1991 it was east / west dispute all over diff views
organize or best run society. Main actors in conflict was West led by US and East
USSR. The US ideology was based on notions of democracy, capitalism, and market
captlalism. East was east promoted authoritarianism, communism Germany, central and
eastern Europe following WW2. Security fears and East idea that capitalism wanted to
kill communism and the western fear tht communism wanted to take over the world. This
led to the period of cold war which exhibited arms race, economic conflict and proxy
wars btw the US and USSR( proxy war- ex Such as Korean war). 1955 eight central and
eastern European countries signed the WARSAW pact which was a treaty of mutual
defense. This treaty was signed in defense of the western Germany being incorporated
into NATO. When the cold war ended in 1991 it forever changed global political
security environment and led to finding new purposes for the NATO and the UN.
COLONIALISM- refers to acquisition, maintence and exploitation of one territory by
ppl frm another territory, mainly Europeans. Decolonialization- occurred bc of several
reasons such as the defeat of European countries following WW2, theUN charter
promised of respecting the sovereignty of nations as well as the negative attitude toward
colonization, ideologies such as Marxism and the strategies of anti- imperial force. Lgacy
of colonization can be found in the Gloobal south by the cycle of dependency. Further by
the the artificial states created by the colonizers as the borders of the states were created
by the colonizers and did not grow out of cultural or historical legacy.
CONSTUCTIVISM- the theory that the actions and words of ppl shape society and
society in turns shapes the actions and words of ppl wchich create rules. These rules
determine who the actors are In a given situation and directs and cmmits to t take certain
actions. These actions and practices form predicatable patterns that serve the interest of
key agents. In the 21st CE these agents are co-operations global economic institutions
and wealthier countries. Hold that power comes frm material forces which is control of
resources and discursive forces, wchich is the control of language and ideas. In term of
intl relations holds tht anrchy is what we make of it. We are only limted by the
institutions and practices tht we ourselves have created. Therefore We must focus on
shared rules, practices, identities, values and norms.
DIPLOMACY- is the process by which intl actors communicate with each other in order
to resolve conflicts without going to war and find solutions to complex global issues. In
diplomacies the state is the central imprtntnt actor in the modern intl system. The
concept of state is central to all global relations in the politics. Here foreign policies is
house state express their interest / wants and how they go about securing these wants or
interests. This is the process by which states interact. There are three types of states with
concerned with diplomacy. The modernstates which uses diplomacy for economic

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growth and to build up power and authority at home and abroad. The post modern state
which use diplomacy to uild regional and global regimes to prevent the security threat by
premodern states. {Pre modernstates are the biggest threat to global security as they
haven for activities such as drug trafficking and human trafficking.
Earth summit- AKA UN conference on environment and development held in Rio. It
was the largest intl conference and it raised the profileof environment as the intl issue. It
brought about several imprtnt douments and arrngements such as “Agenda 21 “ and the
iintl convention on climate change and the preservation of bideiversity. The most
impotent issue discussed at the summit was the aid pledges to fianancé environment
improvements under discussions. This led toa review a the UN of Rio agreement by the
newly formed commission on sustainable development and special sessions at the general
assembly. In 2002 t he 10h anniversary if the Earth summit the world summit on
sustainable development was held in Johaanesberg which showed how intl focus has
shifted frm just environment to sustainable development.
Gatt- General agreement on tariffs ad trade. It was an interm agreement signed in 1947
under brettonwood system with the purpose of trade liberalization which aims to remove
or reduce barriers to free trade. In 1960s there was much progress made towads achieving
free trade butin the 1970s the notion of protectivism took hold and Gatt was unable to
prevent its most powerful and wealthier members frm implementing barriers. Ex which is
multifibre agrrement of 1973 in which the wealthier nations placed restrictions on fabrics
frm developing countries. This directly violated th principle of non discrimination of
Gatt. Gatt was initially seen as interm agreement which was eventually going to be
replaced by a formal institution.But this did not occur until 1994 he it was replaced with
the WTO. Reference to globalization gatt promoted free trade among nations to increase
eeconomic integration among nations.
Global South – refers to developing nations, which are poorer countries struggling with
economic deelvopment and progress. Hese are countries tht are lacking well trained
professionals, thus were reffering to Brain drian Upto date techonologies and are limited
by smaller budgets. States of global south an be found in central and south America,
Africa and parts of Asia. These nations have a legacy of colonialization which has
created a cycle of dependency in the new intl order. Also the nationsof the global south
demonstrate the uneven and prejudicial process og globalization. Bc lot of natural
resources nad workforce they don’t have enough wealth to capitalize on what they have
for their own benefit
GNP- is the total value of all the goods and services produced by the resources of al the
residents and businesses of a particular country regardless of their location, this includes
incomes coming frm abroad , thus indicates the intensity of the nations involvement or
incorporations in the globalization process. Countries with higher gnp are the ones most
benefiting frm globalization. *These countries are mostly located in the Global north.
GNp is a tool to measure the economic power of a state which is fundamnetlin
determining its military and political power. Does not distinguish btw qualitative nd
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