Final Exam Terms Defined

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Political Science
Waldemar Skrobacki

POLA83Exam Notes TermsASEANAssociation of South East Asian Nationsin 1967 Began between Indonesia malaysia Philippines Singapore and ThailandGeographical and economical organization of several countries Initially formed as display of solidarity against communism its aims now been redefined and broadened to acceleration of economic growth and the promotion of regional peace Bretton Woods System 1944 conference in town of Bretton WoodsUS and UK major western economiescreates IMF and World BankGoal is to stabilize international economy postWWIIHistorical background Great Depression 1929 rise of economic nationalismcreates conditions for conflict less interaction less interdependence 1970s Bretton Woods begins to break downCold War ended in 1989 extended worldwife conflict between communism and capitalism that is normally taken to have begun in 1947 and concluded in 1989 with the collapse of soviet power EuropeCommon Agricultural Policy CAP is a system of European Union agricultural subsidies and programmes It represents 48 of the EUs budgetThe CAP combines a direct subsidy payment for crops and land which may be cultivated with price support mechanisms including guaranteed minimum prices import tariffs and quotas on certain goods from outside the EUCosmopolitanismDenoting identification with a community culture or idea that transcends borders or particular societiesImplies freedoms from local or national limitationsin early 21st century the dominant cosmopolitanism was that of global capitalismwhich promoted a community and culture that was informed by market economics a concept of universal rights EuropeanizationThe process in which a notionally nonEuropean subject be it a culture a language a city or a nation adopts a number of European featuresreferred to very generally as becoming more European likeForeign Direct Investment FDIFDI is a measure of ownership of productive assets such as factories mines and land Increasing foreign investment can be used as one measure of growing economic globalizationbalance ofIt is the sum of equity capitalother longterm capital and shortterm capital as shown in thepaymentsGreat Depression
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