TXW REVIEWER

World economy- or global economy, refers to all of the economic activity within each country
and between countries around the world.
Globalization-word used to describe the growing interdependence of the world's economies,
cultures, and populations, brought about by cross-border trade in goods and services, technology,
and flows of investment, people, and information.
Global citizen- someone who is aware of and understands the wider world – and their
place in it.
Global religion- globalization allows for religions previously isolated from one another to now
have regular and unavoidable contact. As a result, globalization brings to the light the fact that
since religions have similar values, not one of them is “correct” and, therefore, can be changed.
Global investment-Global Investment or International Investment is a strategy of selecting the
global-based investment options for your portfolio. These investments include options like
Mutual Funds, exchange traded funds and direct investments in foreign markets.
Global finance-defined as the international framework of economies, regulations, and financial
institutions and how these things interact with each other.
Global interstate system- holds that all states are defined through their relationship to other
states or through participation in the world economy.
Free trade- called laissez-faire, a policy by which a government does not discriminate
against imports or interfere with exports by applying tariffs (to imports) or subsidies (to
exports).
Economic integration- an arrangement among nations to reduce or eliminate trade
barriers and coordinate monetary and fiscal policies.
Regional integration- expands markets and input sources, better allocating resources
across the region and accelerating economic growth.
European union-international organization comprising 27 European countries and
governing common economic, social, and security policies.
Privatization- transfer of a business, industry, or service from public to private ownership and
control.
Market integration- occurs when prices among different locations or related goods follow
similar patterns over a long period of time.
International relations- the complex relations existing among the sovereign states of the
world. It is mainly concerned, among other things, with the study in depth of all events and
situations affecting more than one state.
Post Modernism- Postmodernists see the media as central to globalisation and emphasise the
positive effects media globalisation has on society.
Trade liberalization-removal or reduction of restrictions or barriers on the free exchange of
goods between nations.
United nations- an international organization founded in 1945 after the Second World War by
51 countries committed to maintaining international peace and security, developing friendly
relations among nations and promoting social progress, better living standards and human rights.
General assembly- the main policy-making organ of the Organization. Comprising
all Member States, it provides a unique forum for multilateral discussion of the full spectrum of
international issues covered by the Charter of the United Nations.
Security council- one of the five primary organs of the United Nations, responsible for
maintaining international peace and security.
Secretariat-carries out the substantive and administrative work of the United Nations as
directed by the General Assembly, the Security Council and the other organs. At its head is
the Secretary-General, who provides overall administrative guidance.
Trusteship Council- one of the main organs of the UN, was established to supervise the
administration of trust territories as they transitioned from colonies to sovereign nations.
Economic and Social Council-serves as the central forum for discussing international
economic and social issues, and formulating policy recommendations addressed to member
states
• International Criminal Court-The International Criminal Court (ICC) investigates and,
where warranted, tries individuals charged with the gravest crimes of concern to the
international community: genocide, war crimes, crimes against humanity and the crime of
aggression.
World Bank- is an international organization dedicated to providing financing, advice, and
research to developing nations to aid their economic advancement. The bank predominantly acts
as an organization that attempts to fight poverty by offering developmental assistance to middle-
and low-income countries.
OPEC- Organization of the Petroleum Exporting Countries (OPEC) is a permanent,
intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960,
by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
Warsaw pact-The Soviet Union formed this alliance as a counterbalance to the North
Atlantic Treaty Organization (NATO), a collective security alliance concluded between the
United States, Canada and Western European nations in 1949. The Warsaw Pact
supplemented existing agreements
NATO-North Atlantic Treaty Organization (NATO), military alliance established by the
North Atlantic Treaty (also called the Washington Treaty) of April 4, 1949, which sought to
create a counterweight to Soviet armies stationed in central and eastern Europe after World War
II. Its original members were Belgium, Canada, Denmark, France, Iceland, Italy, Luxembourg,
the Netherlands, Norway, Portugal, the United Kingdom, and the United States. Joining the
original signatories were Greece and Turkey (1952); West Germany (1955; from 1990
as Germany); Spain (1982); the Czech Republic, Hungary,
and Poland (1999); Bulgaria, Estonia, Latvia, Lithuania, Romania, Slovakia,
and Slovenia (2004); Albania and Croatia (2009); Montenegro (2017); and North
Macedonia (2020). France withdrew from the integrated military command of NATO in 1966
but remained a member of the organization; it resumed its position in NATO’s military
command in 2009. Finland and Sweden, two long-neutral countries, were formally invited to join
NATO in 2022.
ASEAN- officially the Association of Southeast Asian Nations,[12] is a political and economic
union of 10 member states in Southeast Asia, which promotes intergovernmental
cooperation and facilitates economic, political, security, military, educational,
and sociocultural integration between its members and countries in the Asia-Pacific.
REGIONALISM- theory or practice of regional rather than central systems of administration or
economic, cultural, or political affiliation.
Internationalism lays stress only on the solidarity and cooperation among the Nations, while
acknowledging their Sovereign Character.
• The practice of designing products, services and internal operations to facilitate
expansion into international markets.
Nationalism-ideology that emphasizes loyalty, devotion, or allegiance to a nation or nation-
state and holds that such obligations outweigh other individual or group interests.
European union-The modern European Union, founded in 1992, has its origins in post–World
War II attempts to integrate European economies and prevent future conflicts. It consists of
seven major institutions and dozens of smaller bodies that make law, coordinate foreign affairs
and trade, and manage a common budget.
Global south-The concept of Global North and Global South is used to describe a grouping of
countries along socio-economic and political characteristics. The Global South is a term often
used to identify regions within Latin America, Asia, Africa, and Oceania.
Global north-The concept of Global North and Global South is used to describe a grouping of
countries along socio-economic and political characteristics. The Global South is a term often
used to identify regions within Latin America, Asia, Africa, and Oceania.
Core countries-n world systems theory, the core countries are the industrialized capitalist or
imperialist countries, which depend on appropriation from peripheral countries and semi-
peripheral countries. Core countries control and benefit from the global market
• What is the 10 core countries?
• Examples of Core Nations
• Australia.
• Austria.
• Canada.
• Denmark.
• Finland.
• Greece.
• Israel.
• Italy.
Peripheral countries-In world systems theory, poor nations that have
limited industrialization and uneven distribution of urbanization, that are exploited by core
nations and semi-peripheral nations for their raw materials and inexpensive labor.
Colonialism- Colonialism is a practice of domination, which involves the subjugation of one
people to another.
Semi-peripheral countries-What is the meaning of semi-periphery country?
In world-systems theory,” the term semi-periphery country is often used to describe countries
that are somewhere in between the most industrialized nations and those other countries that are
peripheral, meaning more rural and not as relevant in the scope of the world economy. What is
an example of a semi-periphery country?
Semi-peripheral countries (e.g., South Korea, Taiwan, Mexico, Brazil, India, Nigeria, South
Africa)
Third world -Third World" is an outdated and derogatory phrase that has been used historically
to describe a class of economically developing nations.
Third world countries- What Does Third World nations mean?
The Third World. The term Third World was originally coined in times of the Cold War to
distinguish those nations that are neither aligned with the West (NATO) nor with the East,
the Communist bloc. Today the term is often used to describe the developing countries of
Africa, Asia, Latin America, and Australia/Oceania.
First world countries-First-world countries are often characterized by prosperity, democracy,
and stability—both political and economic. A high literacy rate, free enterprise, and the rule of
law are other common characteristics of first-world countries.
G7-The G7 is an informal grouping of seven of the world's advanced economies: Canada,
France, Germany, Italy, Japan, the United Kingdom, the United States and the European
Union.
PERIPHERAL COUNTRIES-These are the least-developed and still developing countries.
They produce labor-intensive and/or low-skill products and are typically exploited as a source of
cheap labor, raw materials, and agricultural production for core and semi-periphery countries.
Countries like CAMBODIA, BANGLADESH, and most of Sub-Saharan Africa are examples
of the periphery, where technologically simple, labor-intensive, lowskill, and low-wage
occupations predominate. These are broad generalizations and within a country there can be
areas of core processes and areas of peripheral processes.
MARXISM-he political, economic, and social principles and policies advocated by Marx
especially : a theory and practice of socialism (see socialism sense 3) including the labor theory
of value, dialectical materialism, the class struggle, and dictatorship of the proletariat until the
establishment of a classless society.
LIBERALISM-Political doctrine that takes protecting and enhancing the freedom of the
individual to be the central problem of politics.
REALISM- The negative side of the realists’ emphasis on power and self-interest is often their
skepticism regarding the relevance of ethical norms to relations among states. National politics is
the realm of authority and law, whereas international politics, they sometimes claim, is a sphere
without justice, characterized by active or potential conflict among states.
FUNTIONALISM-Functionalists argue that mutual trust and habits of cooperation
between governments are more likely to develop through the sharing of discrete public-sector
responsibilities, or functions (e.g., collecting meteorological data, coordinating international air-
traffic control, the prevention of pandemic diseases, and promoting sustainable development),
rather than through attempts to cooperate on more sensitive issues such as citizenship, monetary
union, or national defense. The central feature of the functional approach is the creation of
international agencies with limited and specific powers defined by the function that they
perform. Functional agencies operate only within the territories of the states that choose to join
them and do not therefore threaten state sovereignty.
Typical examples of the functional approach in operation are specialized agencies of the United
Nations (UN) such as the International Civil Aviation Organization (ICAO), the World
Meteorological Organization (WMO), and the World Health Organization (WHO), each of
which has nearly global membership. The United Nations Children’s Fund (UNICEF),
the United Nations Development Programme (UNDP), and the United Nations Environment
Programme (UNEP) are also based on functional principles. The UN Charter makes explicit
reference, in Article 55, to promoting conditions of stability and the promotion of higher living
standards, economic and social progress, and development. Functionalism therefore underpins
the UN system’s entire range of activities outside of the collective security role.
CONSTRUCTIVISM-Constructivism is the theory that says learners construct knowledge
rather than just passively take in information. As people experience the world and reflect
upon those experiences, they build their own representations and incorporate new information
into their pre-existing knowledge (schemas).
FEMINISM-feminist theory closely aligned with post-colonial theory and postcolonial
feminism. It concerns itself primarily with the forward movement of women's rights on a global
scale.
Feminist movements work to change women's condition and women's position. What this
means is that in addition to advocating for women's access to their immediate needs, the feminist
movement works to dismantle the root causes of inequality that force women into subordinate
roles in society.
UNCLOS-The United Nations Convention on the Law of the Sea was adopted in 1982. It lays
down a comprehensive regime of law and order in the world's oceans and seas establishing
rules governing all uses of the oceans and their resources.
UNCLOS- Is the Philippines protected by UNCLOS?
The 1982 United Nations Convention on the Law of the Sea, or UNCLOS, which entered into
force in 1994, governs the conflicting maritime claims in the South China Sea. All the claimant
states in the South China Sea dispute, including the Philippines and China, have ratified
UNCLOS
EEZ-Exclusive Economic Zone
The United Nations Convention on the Law of the Sea (UNCLOS) defines an Exclusive
Economic Zone (EEZ) as generally extending 200 nautical miles from shore, within which the
coastal state has the right to explore and exploit, and the responsibility to conserve and manage,
both living and non-living resources.