Reviewer in Contemporary World (Midterm)
Trade, financial flows, and regional policy
coordination
- These are the challenges on regionalization
and globalization in Asia:
Free Trade
- It refers to a policy by which a
government does not discriminate
against imports or interfere with
exports by applying tariffs (to imports)
or subsidies (to exports).
ASEAN
- This organization was established in August 8,
1967 in Bangkok, Thailand.
ASEAN
- The gist of the aims and purpose of this
organization is to accelerate the
economic growth, promote on matters
of socio-cultural interests, and maintain
regional peace and prosperity.
Diversified cultures, religions, and customs
- This is the second reason why it took time for
Asia to integrate economically:
Unbalanced economic growth
- This is the primary reason why it took time for
Asia to integrate economically:
European Union
- It is the best example of regional
integration
Single market
- It pertains to a midpoint between political and
economic integration wherein cooperating
states become so integrated that all barriers are
removed.
Political integration
- It pertains to a process wherein cooperating
states have become completely integrated into
a single market since there is a need for
common policies in social aspect (e.g.,
education, health care, employment benefits,
and pensions).
Economic integration
- It is the process by which different countries
come to agreement to remove trade barriers
(e.g., tariffs, quotas, and border restrictions)
between them.
Regional integration
- This refers to a process by which two or more
neighboring nation-states agree to cooperate
and work closely together to achieve peace,
stability, and wealth.
Economic wave
- It is believed to be the second wave of
globalization wherein development was mainly
related to the requirements of the European
industrial revolution.
Alfred Sauvy
- He coined the term “The Third World” in 1952.
South-South Cooperation
- This refers to a long term goal of pursuing
world economic changes that mutually benefit
countries in the Global South and lead to
greater solidarity among the disadvantaged in
the world system.
Global South
- This refers to regions of Latin America, Asia,
Africa, and Oceania. It includes the countries
belonging to the Third World and the Periphery.
Global North
- This mostly encompasses the West and the
First World, along with many of the Second
World.
Group of 8 (G8)
- This refers to the group of eight (8) highly
industrialized nations—France, Germany, Italy,
the United Kingdom, Japan, the United States,
Canada, and Russia—that hold an annual
meeting to foster consensus on global issues
like economic growth and crisis management,
global security, energy, and terrorism.
North-South Divide
- It is recently known as development gap which
puts greater emphasis on the gap between the
economically rich and poor countries.
Regionalization
- It refers to concentration of economic flow
within region thereby binding together the
region’s economy.
Regionalism
- It is a political process characterized by
economic policy cooperation and coordination
among countries.
Security Council
- It is the only United Nations organ that
has the power to make decisions that
member states are obligated to
implement.
China, France, Russia, UK and USA
- They are the five (5) permanent members of
the Security Council.
Salvador Lopez
- He was chairman of the United Nations
Commission on Human Rights in the late 1960s.
Secretary-General
- He serves as the chief administrative officer of
the United Nations.
António Guterres
- He is the incumbent Secretary-General of the
United Nations.
Weapons of mass destruction
- This refers to weapons with the capacity to
inflict death and destruction on such a massive
scale and so indiscriminately that its very
presence in the hands of a hostile power can be
considered a grievous threat.
Coalition of the Willing
- It refers to the group of nations that Bush
administration officials describe as America's
partners in the U.S.-led effort to oust Saddam
Hussein.
North Atlantic Treaty Organization (NATO)
- This refers to an intergovernmental military
alliance between 29 North American and
European countries.
193/2
- UN’s member states and observer
states
Knowledge, Normative, Policy, Institutional,
and Compliance
- The five (5) governance gaps
Trusteeship Council
- It has been inactive when the last
territory, Palau, attained independence.
Trusteeship Council
- It originally programmed to manage colonized
countries which were former mandates of
League of Nations.
Secretariat
- It supports the other UN bodies
administratively (for example, in the
organization of conferences, the writing of
reports and studies and the preparation of the
budget)
International Court of Justice
- It renders judgment by relative majority.
Economic and Social Council
- It is responsible for cooperation between
states as regards economic and social matters.
General Assembly
- It elects the non-permanent members of the
UNSC; all members of ECOSOC; the UN
Secretary General (following his/her proposal
by the UNSC); and the fifteen judges of the
International Court of Justice (ICJ). Each country
has one vote.
International Court of Justice
- It issues legal opinions.
International Court of Justice
- It decides on disputes between states that
recognize its jurisdiction.
International Court of Justice
- It renders judgment by relative majority. Its
fifteen judges are elected by the UN General
Assembly for nine-year terms.
General Assembly
- It decides on the admission of new
members, following proposal by the
UNSC.
- They adopt the budget.
Security Council
- It has fifteen members: five permanent
members with veto power and ten elected
members with a term of two (2) years.
- They may adopt compulsory
resolutions.
Secretariat
- It is the chairperson – the UN Secretary
General – is elected by the General
Assembly for a five-year mandate and is
the UN's foremost representative.
Economic and Social Council
- It coordinates cooperation between the
UN's numerous specialized agencies.
- It has 54 members, elected by the
General Assembly to serve staggered
three-year mandates.
- General Assembly
- - It may resolve non-compulsory
recommendations to states or
suggestions to the Security Council.
- Security Council
- - It is responsible for the maintenance
of international peace and security.
- United Nations
- - This refers to an intergovernmental
organization that was tasked to
maintain international peace and
security, develop friendly relations
among nations, achieve international
co-operation and be a center for
harmonizing the actions of nations.
Classify, fix meanings, and fix norms
- Powers of IO’s
Global governance
-It provides strategic direction and then
marshals collective energies to address global
challenges.
- It refers to a process of cooperative
leadership that brings together national
governments, multilateral public agencies, and
civil society to achieve commonly accepted
goals.
Napoleonic code
- It forbade birth privileges, encouraged
freedom of religion, and promoted meritocracy
in government.
Washington Consensus
- It aimed for the privatization of government-
controlled services.
General Agreement on Tariffs and Trades
- It refers to a legal agreement between many
countries, whose overall purpose was to
promote international trade by reducing or
eliminating trade barriers such as tariffs or
quotas.
Galleon Trade
- It is also known as Manila-Acapulco Trade.
Gold Standard
- It was led by the United States, Great Britain
and other European Countries wherein they
established a common basis for currency prices
and a fixed exchange rate system.
Ceramics
- It is considered as the most tangible
product of the Middle East.
USSR
- They joined the Allied Powers in 1941.
Vanguard
- It refers to revolutionary parties encouraged
by the Bolsheviks using methods of terror if
necessary.
Vladimir Putin
- He instituted the Union of Soviet Socialist
Republic (USSR).
Socialist International
- One of its achievement was the declaration of
May 1 as Labor Day.
Karl Marx and Friedrich Engels
- According to them, true internationalism
should reject nationalism that rooted people in
domestic concerns instead of global ones.
World Health Organization
- It is a specialized agency of the United Nations
that is concerned with international public
health.
Principle of self-determination
- According to this belief, the world’s nations
has a right to a free, and sovereign government.
Jeremy Bentham
- He advocated the creation of “international
law” that would govern the inter-state
relations.
Klemens von Metternich
- He designed the Concert of Europe.
Battle of Waterloo
- This ended Bonaparte’s mission to spread his
liberal code across Europe wherein Anglo and
Prussian armies defeated him.
Nation
- It may consist of one or more nations or
peoples.
Government
- It is the supreme power of the state to
enforce its will from the people.
World politics
- They take lives on their own beyond simply
facilitating meetings between states.
Washington Consensus
- This forum aimed minimal government
spending to reduce government debt.
Friedrich Hayek and Milton Friedman
- They argued that governments’ practice of
pouring money into their economies had
caused inflation by increasing demand for
goods without necessarily increasing supply.
Neoliberalism
- Originally, this term was used by a group of
liberals who helped shape social market
economy in the mid-20th century.
World Bank
- This agency became responsible for funding
post-war reconstruction projects.
Global Keynesianism
- It refers to the active role of governments in
managing spending.
Gross Domestic Product
- It refers to the total value of the goods and
services produced by the people of a nation
during the year not including the value of
income earned in foreign countries.
International Monetary Fund
- It is characterized by the increasing integration
of economies around the world through the
movement of goods, services, and capital across
borders.
Joseph Stalin
- He dissolved the Comitern in 1943 but later re-
established it as the Communist Information
Bureau (Cominform).
Vladimir Lenin
- He led the Bolshevik Party.
Nicholas II
- He was overthrown by the revolutionary
government.
Socialist International
- It was a union of European socialist and labor
parties established in Paris in 1889.
Karl Marx and Friedrich Engels
- According to them, Nationalism prevents the
unification of workers.
International Labor Organization
- This refers to a United Nations agency that
promotes social protection and
work opportunities for all.
Woodrow Wilson 
- He became the most notable advocate for the
creation of the League of Nations.
Guiseppe Mazzini
- He proposed a system of free nations that
conquered with each other to create an
international system.
Immanuel Kant
- According to him, without a form of
world government, he argued, the
international system would be chaotic.
Concert of Europe
- It sought to restore the world of monarchical,
hereditary, and religious privileges of the time
before the French Revolution and the Globalization
Napoleonic Wars.

Nation
- It refers to the expansion and intensification
- It is believed to be an ethnic concept. of social relations and consciousness across
world-time and world-space.
World politics

- These countries interact with each other

through diplomacy.

 Internationalization

- It refers to the increasing importance of

international trade, international relations,
treaties, alliances, etc.

Washington Consensus

- It aimed on pressuring governments,

particularly in the developing world, to reduce
tariffs and open up their economies.

Neoliberalism

- this term is mostly used by people who are

critical of the ideas of globalization and as well
by trade unionists.

Bretton Woods System

- It sought to prevent catastrophes of the early

decades of the century from reoccurring and
affecting international ties.

Bretton Woods System

- It was developed at the United Nations

Monetary and Financial Conference held in New
Hampshire.

Galleon Trade

- This was the first time that that Americas were

directly connected to Asian trading routes. It
became part of the age of mercantilism.