Final Study Guide

Final Study Guide - Trading Democracy Chapter 11 of the...

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Trading Democracy Chapter 11 of the NAFTA allows foreign companies to sue other governments if they feel their environmental laws are hindering their company. Example: California and Methanex The hearings for these lawsuits take place in private courts in Washington, New York, and Toronto. No citizens or even lobbyists are allowed in the courts. The public has no idea of the happenings. MTBE (Methanex) was combined into gasoline to help clean the air. After several years it was discovered to cause cancer in lab animals. Then reports of it leaking into the water and soil caused the California government to ban it from being used thus causing the company to sue the U.S… this leads to less governmental spending in California. Chapter 11 hurts democracy and the environment because governments have to weigh how much the environment is worth to the cost of the lawsuit they may face Economic Globalization Economic underdevelopment; different social processes of different cultures coming together Structural Adjustment Programs (SAPs): cut government spending, liberalize financial markets, reduce real wages and cut government price subsidies, increase interest rates to attract foreign capital, (affects women, children, and the poor) Global financial casino: liberalization of southern markets/economies in third world countries; protect us through computer but hurts them by financial freeze Debt boomerang: global warming, job loss, immigration Global North – First World/More Developed Countries Global South – Third World/Less Developed Countries Globalization – a multidimensional set of social processes that create, multiply, stretch, and intensify worldwide social interdependencies and exchanges while deepening awareness and connections between the local and the distant. Six different categories of Third World countries since World War II. o Big Emerging Markets – large scale manufacturers; Brazil, Mexico, China, India etc. o Would-be BEMs – have diversified and industrial service sectors; Columbia, Portugal, Thailand o OPEC Nations – Oil-exporting countries o Former Communist Economies – 26 countries o Raw Material Exporters and Light Manufacturers – 40 countries o Least Developed Countries – mostly Africa The Bretton Woods institutions were established by British and American negotiators o The World Bank’s role was to help with reconstruction after the war and to assist long-term production in poorer countries.
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o The International Monetary Fund’s role (IMF) was to oversee the international financial and monetary order. o GATT was set up to free restrictions on trade and was replaced in 1955 by WTO. Pogge, “A Global Resources Dividend”
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Final Study Guide - Trading Democracy Chapter 11 of the...

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