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Global Political Economy: Protecting Wealth in the Global North
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The policy of the International Monetary Fund, the World Bank, and others to attach conditions to their loans and grants. These conditions may require recipient countries to devalue their currencies, lift various controls, and cut their budgets.
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The ninth and latest round of global trade negotiations to reduce barriers to international free economic interchange.
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A 28-member commission with shared executive power that serves as the bureaucratic organ of the European Union.
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The 751-member legislative branch of the European Union. Representation is determined by population of member-countries and is based on 5-year terms.
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The official currency of the Euro zone, used by 19 of the 28 member-states of the EU.
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A regional trade organization founded in 1989 that now includes 21 countries.
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Refers to the 57 countries with high human development. Most, but not all, of these countries are located in the Northern Hemisphere.
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An economic system based on the private ownership of the means of production and distribution of goods, competition, and profit incentives.
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A series of multilateral trade negotiations that reduced tariffs after World War II and continued into the early 1990s. Became enforced by the World Trade Organization beginning in 1993.
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Refers to the 2016 UK referendum and follow-on negotiations with the EU so that the UK can leave EU membership.
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The values of two currencies relative to each other (e.g., how many yen equal a dollar or how many yuan equal a euro).
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The realpolitik theory that the state should use its economic strength to further national interests.