Midterm Review

Midterm Review - Midterm Review SHORT ANSWER QUESTIONS 1 In...

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Midterm Review SHORT ANSWER QUESTIONS 1. In class 3 a lecture described the world political economy “as seen from the space shuttle.” What were 3 main points made from that lecture? If we were on a space shuttle, there are five different things that we would be analyzing. Three of which are human beings, international markets, and international institutions The Human Beings o We would see that developing regions are growing exponentially higher than industrialized countries o Largest countries by population are China, India, and the US whereas Russia, Japan, and Germany are declining This decline usually means a decline in power o We would see that the world income per person has gone up three times in 50 years, but that it has not been spread equally, but rather concentrated with the richer getting richer and the poorer getting poorer o The UN puts out a human development report every year that measures not only money, but also other important things such as schools… We would see that developing countries have made unprecedented progress in last three decades Life expectancy increased by 1/3 (17 years) Infant mortality cut in half >70% have access to health services Access to safe water increased from 10% to 60% However, there are still 1 billion people living on less that $1/day (what the World Bank defies as absolute poverty) 800 million adults are still illiterate 300 million children do not attend school International Markets o A market is a process of exchange between buyers and sellers o We would see the amount of cooperation and interaction between different nations o The United States (13%) and other industrial countries (52%) are the majority of places that participate in world trade o We would see that globalization is high, but that in the past is has been very low o We would also see that developing countries are very dependent of other countries because they don’t really buy what they make within their own borders, so they must sell it elsewhere Globalization helps developing countries, especially with the non- discrimination act of the GATT o We would also see that most trade is organized by capitalist countries, but almost everyone benefits from it International Institutions
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o We would see that these international institutions were created by the more powerful states so this allows them to make the rules o In some areas, though, there are not international organizations o These international institutions help form specialized organizations to deal with health, food, tsunami relief…. o We would see that one of the largest international institutions is the WTO in which governments try to write common rules to organize trade We would see that this is how the people of Earth try to organize the complex world of trade and how beneficial international institutions can be, even though it is not perfect For example, the DOHA round is still stalemated partly because figuring out what a countries interest in respect to
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This test prep was uploaded on 04/21/2008 for the course IR 326 taught by Professor Odell during the Fall '07 term at USC.

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Midterm Review - Midterm Review SHORT ANSWER QUESTIONS 1 In...

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