Study Guide Chapter 1

Study Guide Chapter 1 - Chapter 1 Review Definitions...

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Chapter 1 Review Definitions Concepts Five periods in history since International Relations Started Hegemony: a preponderance of global power. Examples/ Questions of Terms Bretton Woods system: the institutions guiding the liberal economic system after World War II in trade (the General Agreement in Tariffs and Trade, turning into the World Trade Organization), monetary affairs (the International Monetary Fund and, until 1971, the gold-dollar standard), and economic development (the World Bank). interests, interactions, and the institutional environment Cold War: an ideological conflict between the United States and the Soviet Union, and their respective allies, between the end of World War II and 1989. The two superpowers did not engage in direct conflict but tested each other through proxy wars, arms races, and other forms of competition. The century from roughly 1815 to 1914 was one of relative peace and incredible prosperity. Council for Mutual Economic Assistance: an international institution to facilitate economic integration among the communist countries during the Cold War. West shifted from acceptance of globalization and laissez-faire competition to nationalism that rejected international economic structures and sought to regulate domestic conflict, both economic and political Détente: a reduction in hostilities, often referring to the Cold War era from the late 1960s until 1979. the Mercantilist Era was led largely by Western states intent on securing power and markets European Union: a customs and currency union of twenty-seven countries that followed from the success of the European Economic Community. the Golden Age, economic development and the balance of power on the European continent had changed state interests from mercantilist zero-sum conflict into positive- sum economic cooperation based on the Ricardian principle of comparative advantage. Great Depression: a severe global economic contraction that began in 1929 and ebbed only with the start of World War II. Third Period: The rot of old empires and rise
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Study Guide Chapter 1 - Chapter 1 Review Definitions...

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