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Unformatted text preview: ISS 315 Fall 2007 Quiz 3 Key Term List Apprenticeship s o By education, working/business level Bretton Woods o 1994, Bretton Woods agreement pegged the $US to gold o $35/ounce and all other major currencies to dollar Colonialism vs. neo-colonialism o Colonialism: based on military and political domination of one nation over another. o Neo-colonialism: based on economic and political option domination. Ex) Argentina borrowing money for railroad development. Competition: niche vs. head-to-head o Niche: Win-win competition that a country has a specialty product they sell o Head to head: win-lose competition that country has everything that they sell, its about facing whos better. If there is a winner, there is a loser. Debt vs. deficit o Debt: how much you owe to one another o Deficit: how much you need for certain thing. The shortage of the resource/money. Demming o American quality control guru, who didnt have an audience in the U.S, who Japanese enshrined his policy like a bible. Dumping o Earning a profit of less than 8% o One country exporting and selling the product for less than at home. General Agreement on Trade and Tariffs (GATT) o Basic aims and objective on reciprocity and non discrimination Reduction tariffs from 40% to 5%. Porhibiting quantitative restriction and other non-tariff barriers to trade. Elimination of trade discrimination Generalize System of Preferences o Granted preferential acess to manufactured and semi manufactured goods exported from developing to developing countries o Permitted non-reciprocal trading agreement Good as Gold o From Bretton Woods o After deficit mounting up piling up dollars, creditors began to doubt if the dollar was GOOD AS GOLD Green Revolution o...
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This test prep was uploaded on 03/19/2008 for the course ISS 315 taught by Professor Hussain during the Fall '08 term at Michigan State University.
- Fall '08