PSC 1003 Study Guide - Final Guide: Bretton Woods Conference, 1997 Asian Financial Crisis, Washington Consensus
Document Summary
Bretton woods conference - when us and britain met and established ibrd which is now known as the world bank. World bank loans money to countries for repairment. Asian financial crisis 1997 - example of how the imf works; stabilized russian economy. Washington consensus - support of the ileo. Supports reform of the structural adjustment plan (reducing trade barriers and government influence on trade) General agreement on trade and tariffs (gatt) - international trade agreement to promote free trade through a common set of rules. Neoliberalism - economic liberalism emphasizing importance of limited govt and reduced regulation. Corn laws - protection of farmers from international trade. Grand theory perspectives on free trade and globalization: Globalization is a myth, states still dominate international relations and there is no difference in pre/post globalization gdp. Globalization is a threat to state sovereignty - natural borders still matter and governments choose to engage in free or restricted trade.
