DS 10 Midterm Study Guide.wps

DS 10 Midterm Study Guide.wps - DS 10 Midterm Study Guide...

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-1 DS 10 Midterm Study Guide Vocab: Acronyms GNP - value of goods and services produced by the citizens of a country GDP - value of goods and services produced within a country (including productions by foreigners within that country) PPP -purchasing power parity, a mode of calculation for GNP HDI - human development index - a measure of life expectancy, literacy education and standard of living SOEs - state owned enterprises- government owned businesses or corporations TVEs - entrepreneurial communities based in townships and villages in rural areas of China. FDI - foreign direct investment -an investment to acquire lasting interest in enterprise operating outside the economy of the investor: a parent enterprise controls a foreign affiliate to form a transnational corporation IFI - indirect foreign investment - aka “hot money” short term capital flows from overseas seeking speculative gains. Aka portfolio investment - passive holdings of securities such as foreign stocks, bonks or other financial aspects without active management by the investor. EOI - export oriented industrialization- State shifts resources--public, private and foreign--into export manufacturing. EOI’s open up domestic markets to foreign competition in exchange for market access in other countries. ISI - import substitution industrialization -a strategy of protecting domestic industry through tariff and other barriers pursued and subsidizing “infant industries” to overcome the specializing effects of the colonial division of labor. However it is argued that ISI creates industries that are inefficient or obsolete and impoverishes local commodity producers who are primarily rural. EPZs - export processing zones-area where tariffs and quotas are eliminated and bureaucratic requirements are lowered in hopes of attracting foreign investments. OPEC - Organization of the Petroleum Exporting Countries- international cartel aimed at safeguarding the interests individually and collectively, and in stabilizing prices in international oil markets. BAIRS- Bureaucratic-authoritarian industrializing regimes- Third world states playing a central and disciplinary role in mobilizing human, labor, and other economic resources into rapid industrialization. Week 1: State of Development in a Globalized World
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What is the current State of the Third World and its relation to a Global Economy? UN Millennium Goals Report 2006 UNDP, Human Development Report 2005, Ch. 1,2 and 3. Vocab: Global Development Project- initiative to promote Third World industrialization Globalization- a worldwide integration of economic, political and social systems. Redistribution-a non market exchange of goods accorded to cultural specific principles Third World- nations that did not become rich or industrialized during the formation of the existing world order. Political dynamics of the postwar world order, dividing up first world bloc, as the west and Japan, versus second world the socialist bloc of influence and the third world attempting to avoid becoming pawns in this geopolitical game. However,
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DS 10 Midterm Study Guide.wps - DS 10 Midterm Study Guide...

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