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Reviewer Midterm
Reviewer Midterm
Study the world systems theory: core, peripheral, semi, external (example of countries)
o Core countries are wealthy, militarily strong, and hold significant social power and colonial
power.
o Peripheral countries are poor, have exploitable resources, and do not possess great social
stability or government.
o Semi-peripheral countries have some of the characteristics of core and peripheral countries.
o External areas are countries or regions that fall outside of the scope of world systems theory.
Principle of the law of the sea (Principle of freedom, Principle of sovereignty, Principle of the
common heritage of mankind)
Regionalism - the political process characterized by economic policy cooperation and coordination
among countries
The Global South is a term that broadly comprises countries in the regions of Africa, Latin
America and the Caribbean, Asia (without Israel, Japan, and South Korea), and Oceania (without
Australia and New Zealand)
The Global North (broadly comprising Northern America and Europe, Israel, Japan and South
Korea, as well as Australia and New Zealand)
Treaty - A formal, international agreement between nations that is governed by law at the
international level.
Multinational corporation – Multinational companies own a home company and its subsidiaries.
Multinational companies have centralized management system.