Chapter 10
Countries using tariffs and trade barriers to prioritize their own industries is called this
Protectionism
This concept means meeting today’s needs without harming future generations
Sustainability
Three organizations created at the Bretton Woods Conference
IMF, World Bank, and GATT
A government owned business created to serve the public
crown corporation
This international agreement aimed to reduce greenhouse gas emissions in the 1990s
Kyoto Protocol
Reducing tariffs and trade barriers to encourage international trade is known as this
trade liberalization
Taking responsibility to protect the environment for future generations is called this
stewardship
In the World Bank and IMF, voting power is mainly based on this
country’s economic size or financial contribution
This industry is often criticized for poor working conditions and environmental harm
fast fashion
This later climate agreement asked countries to set their own goals and update them every 5 years
Paris Agreement
Groups of countries that trade more easily with each other than with non members are called this
Trade blocs
This measure of prosperity looks only at the total value of goods and services produced
GDP
This economist believed governments should intervene in the economy during downturns
John Maynard Keynes
This phrase describes countries lowering labour and environmental standards to attract business
the race to the bottom
Name one concern AND one benefit related to the Alberta oil sands
Concerns: environmental damage, water pollution, high greenhouse gas emissions
Benefits: job creation, energy supply, economic growth
This worldwide economic crisis began in 1929 and led to mass unemployment
Great Depression
This measure of prosperity includes education, life expectancy, and standard of living
HDI
This economist believed free markets work best with minimal government involvement
Friedrich Hayek
This practice involves dismantling ships in developing countries under unsafe conditions
ship breaking
Name one climate related action Canada has taken in recent years
carbon tax, deforestation pledge, or renewable energy investment
Name one benefit AND one criticism of free trade agreements like NAFTA or CUSMA
Benefit: access to goods, lower costs, better standards
Criticisms: job loss, environmental damage, or loss of national control
This event happened in Bangladesh and exposed the lack of corporate accountability in the fast fashion industry
Rana Plaza collapse
Name one benefit of being in the EU and one drawback
Benefit: One single market, freedom of movement, lower costs
Concerns: lack of control over industries, policies don't suit everyone
This occurs when governments reduce or eliminate rules controlling industries
deregulation
Identify one reason why international cooperation on climate change is difficult
economic costs, political disagreements, different levels of development, or lack of enforcement?