Global Governance of International Organizations

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Questions and Answers

What does the acronym IMF stand for?

International Monetary Fund

The IMF was created in 1944.

True (A)

The WTO replaced GATT in 1995.

True (A)

The G7 originally consisted of six member countries.

<p>True (A)</p> Signup and view all the answers

The G20 was founded in 1999.

<p>True (A)</p> Signup and view all the answers

The BRICS group was formed in 2005.

<p>False (B)</p> Signup and view all the answers

The SCO was formed in 2014.

<p>False (B)</p> Signup and view all the answers

What are the names of the original six countries that formed the G7?

<p>United States, Japan, West Germany, France, Italy, and the United Kingdom (D)</p> Signup and view all the answers

The G7 nations account for close to 60 percent of global net wealth.

<p>True (A)</p> Signup and view all the answers

The G20 is composed of the world's largest economies only.

<p>False (B)</p> Signup and view all the answers

Which of these statements is TRUE about the G20?

<p>All of the above (D)</p> Signup and view all the answers

Which of the following is NOT a member of the BRICS group?

<p>Australia (C)</p> Signup and view all the answers

The SCO was created with the aim of fostering economic and security cooperation between its members.

<p>True (A)</p> Signup and view all the answers

Which of these are examples of regional organizations?

<p>All of the above (E)</p> Signup and view all the answers

The UN has played a major role in managing globalization.

<p>True (A)</p> Signup and view all the answers

The EU is the only regional organization that is highly developed.

<p>False (B)</p> Signup and view all the answers

The rise of divergent and contradictory interests between powers has had no effect on international relations.

<p>False (B)</p> Signup and view all the answers

The "alter-globalization" movement seeks to fight against the problems associated with regional cooperation.

<p>False (B)</p> Signup and view all the answers

The rise of conflicts is particularly acute in the Middle East, South Asia, and the Sahel.

<p>True (A)</p> Signup and view all the answers

Global economic governance has been able to resist the economic crises of the last few decades.

<p>False (B)</p> Signup and view all the answers

Regional cooperation can sometimes be a power play.

<p>True (A)</p> Signup and view all the answers

Regional integration always has a positive effect on trade.

<p>False (B)</p> Signup and view all the answers

Regional cooperation is a simple solution to the problems of globalization.

<p>False (B)</p> Signup and view all the answers

Flashcards

Governance

A set of means to ensure the functioning of a domain, such as a company, state, or region.

Global Governance

Attempts to establish rules, institutions, and modes of cooperation to address global challenges.

Multilateralism

Agreements and partnerships between states to achieve shared goals.

International Organizations (IGOs)

International organizations or intergovernmental organizations (IGOs) are groups of governments that cooperate on shared issues.

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International Monetary Fund (IMF)

The International Monetary Fund (IMF) aims to stabilize global exchange rates and provide financial assistance to countries in crisis.

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World Bank

The World Bank provides long-term loans to developing countries for development projects.

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World Trade Organization (WTO)

The World Trade Organization (WTO) encourages free trade and settles trade disputes between countries.

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General Agreement on Tariffs and Trade (GATT)

The General Agreement on Tariffs and Trade (GATT) was a forerunner to the World Trade Organization.

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Group of Seven (G7)

The Group of Seven (G7) is a forum of the world's seven largest advanced economies, aiming to shape global economic policies.

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Group of Twenty (G20)

The Group of Twenty (G20) is a forum of the world's twenty largest economies, working to address global economic challenges.

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BRICS

The BRICS group, consisting of Brazil, Russia, India, China, and South Africa, aims to increase the influence of emerging economies.

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The Triad

The Triad refers to the economic powerhouses of the United States, the European Union, and Japan.

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Regional Cooperation Organizations

Regional Cooperation Organizations are groups of states that collaborate on trade, economics, or political issues.

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Free Trade Areas

Regions that have established trade agreements and reduced trade barriers between its members.

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Development Corridor

A transport route that facilitates the passage of goods and people in landlocked areas.

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Global Management and Regulations in Crisis

The management of globalization and global challenges is facing a crisis of leadership and effective responses.

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Rise of Divergent and Contradictory Interests

The rise of emerging countries and differing interests create tension and a need for reform in existing global institutions.

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Alter-Globalization Movement

A social movement critical of economic globalization, particularly large corporations and their influence.

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Bilateral Agreements

Agreements between two countries to address specific issues, often seen as an alternative to multilateral agreements.

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An Over-Armed and Boiling World

The increasing military spending and conflicts worldwide, creating a volatile security environment.

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Regional Cooperation and Globalization

From Regional Cooperation to Globalization

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Regional Cooperation as a Power Issue

The establishment and functioning of regional organizations often reflects the power dynamics and strategic interests of key players.

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Major Issues of Regional Cooperation and Integration

The complexities and issues that arise from regional cooperation and integration.

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Global Economic Governance

The system of rules, institutions, and actors that govern global economic relations.

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Multipolar Global Governance

The emergence of multiple centers of power, influencing the global governance landscape.

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Traditional World Powers

The United States, the European Union, and Japan, considered the traditional centers of economic and political power.

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Challenging the Traditional Order

Emerging countries and the BRICS group are challenging the traditional order and seeking greater influence in global institutions.

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The Changing Power Landscape

The shift towards a multi-polar world where power is distributed more broadly, posing challenges to existing systems and structures.

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Study Notes

Global Governance of International Organizations

  • International cooperation, established after WWII, aimed to create a new world economic order preventing future crises.
  • Global governance is the attempt to establish rules and institutions for global cooperation, involving states and non-state actors.
  • International organizations like the IMF and World Bank promote globalization through trade facilitation.
  • The IMF enforces exchange rate stability, lends money to struggling nations, and provides financial advice.
  • The World Bank provides long-term development loans to countries.
  • The WTO created in 1995 promotes free trade among countries.
  • Regional organizations like the G7 and G20 address global economic crises, promote cooperation, and represent major global economies.
  • G7 includes Canada, France, Germany, Italy, Japan, the UK, and the US. G20 includes 19 countries and the EU.
  • The G20 addresses global economic issues and has members representing 90% of global GDP.
  • Emerging economic powers are increasingly contesting existing global power structures.
  • The rise of BRICS (Brazil, Russia, India, China, and South Africa) group reflects a shift in global power dynamics.
  • Anti-globalization movements critique the negative impacts of globalization.
  • These movements often focus on issues of labor, environment, and corporate power.
  • Globalization is often characterized by tensions and struggles over governance.

Regulations and Tensions in Today's World

  • Global management of regulations is increasingly in crisis.
  • The current global system is largely dominated by Western countries, which has been challenged by rising demand from emerging countries like those in Asia.
  • The system is further challenged by organizations from emerging economies like the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB).
  • Global governance is becoming increasingly multipolar and contested by divergent interests between major powers.
  • The rise of conflicts reflects tensions over control of resources, influence, and political ideology.
  • The United States and China are competing for global influence, characterized by trade tensions, technological rivalry, and geopolitical rivalries in several regions.

Regional Cooperation and Globalization

  • Regional Organizations have different functions and objectives.
  • Examples include free trade areas like USMCA/CUSMA and broader political/economic cooperation blocs like the EU.
  • The creation, functioning, and power dynamics of regional organizations are often tied to major geopolitical and geo-economic issues.
  • The complexity of international relations involving multiple regions and agreements.

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