global improvement of people

flow of culture

circulation of mechanical goods and software

global circulation of money

realm where ideas move around

a complex phenomenon that occurs at multiple levels; an uneven process that affects people differently

he described the process of intensification and expansion clue: MS

refers to both the creation of new social networks and the multiplication of existing connections that cut across traditional political, economic, cultural and geographic boundaries

refers to the expansion, stretching, and acceleration of these networks

a widespread belief among powerful people that the global integration of economic markets is beneficial for everyone

he said that globalization occur on multiple and intersecting dimensions of integration that he calls scapes clue: AA

UNCTAD

international trading system (7)

the oldest known international trade route

connected Manila, Philippines and Acapulco, Mexico

connected primarily in Europe competed with one another to sell more goods

its goal is to create a common system

the worst and longest recession ever experienced by the Western world

this system allowas governments to freely and actively manage their economies by increasing or decreasing the amount of money in circulation as they see fit.

Economy Policy (3)

a network of global financial institutions that would promote economic interdependence and prosperity

he believes that economic crises occur when a country does not have enough money, but when money is not being spent and thereby not moving. clue JMK

Two Financial Institution of The Bretton Woods System

responsible for funding postwar reconstruction projects

the global lender of last resort to prevent individual countries from spiraling into credit crises.

its main purpose is to reduce taiffs and other hindrances to free trade

a new organization founded in 1995 that continues the tariffs reduction under GATT

it advocates for minimal government spending to reduce government debt

necessary for long term economic growth

MBSs