IR 330 In Class Review

IR 330 In Class Review - IR 330 Midterm Review You can...

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IR 330 Midterm Review You can bullet point You get 7 choices but then choose 5 2. True gold standard/ classical Go back to reading of this specific class—you will find the exact wording in the reading 7. – only within the bretton woods system - standby agreement are the major form of short term loans that the IMF provide supplemental agreements ar ein addition to the standby when new criss comen up and the imf needs more resources to deal with these crises supplementary borrowing after joiing the imf is additional agreements to contribute more funds for cirses that are more severe the major resources of funding provided by imf is in the form of standby for supplemental borrowing it is the members who are already members who provide the funds 9. comparative advantage - in the book there are multiple, but you can pick just two (any tw - identify not just to but also the reasons why protectionists trade policies are needed overview thi si about the worldwide system of production disriution and use of wealth on the other hand there are the set of rules, and arrangements that govern this exchange this study is also called the study of international political economy the origin are closely associated with the develipment of euroean state system, or the European nation state system this was officially recognized with the 1949 treaty of Westphalia this was originally recognized in the treaty of Westphalia this nation state system is based on two principles: 1. sovereignty 2. each player is an equal and independent state within the system 3. the nation state has the ultimate authority 4. either external or international forces cannot intervene in the domesti domestic affairs of the state
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a major factor contributing to the nations state system is actually the rise of mercantilism this is a doctrine adopted by most of the countries mercantilism was well aware of the interaction between politics and ecoomy they think power and wealth are closely linked they believe that wealth was the state power dedicated toconsuming gold and silver mercantilists believe in limiting exports while limiting imoports they limit their imports to only raw materials and sometimes agricultre if you think of this mercantilism, they emphasize national power and the power of the central state the rise in the development of mercantilism contribute to the rise of the central state authority in the mercantilist era, colonialism was actually an integral part colonialism, they rely on the markets as well as the raw materials and revenues one thing liberals like adam smith would criticize colonialism because in the long run mercantilism will lead to international conflicts it is impossible for every country in the world to have a balanced trade surplus but, if you think of the rise or the building up of state authority in unification, mercantilism played an important role so, since then, we have two systems—one is the international political systembased on
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IR 330 In Class Review - IR 330 Midterm Review You can...

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