Global what?
Defined as the speedup of movements and exchanges
What is globalization?
Place where the system of global financial architecture was created
What is Bretton Woods?
Year in which the WTO came into place
What is 1995?
Barter and the exchange of one good or service for another are alternatives to the use of this
What is money?
Place where the last round of negotiations of the GATT took place
What is Uruguay?
Key concept to explain that countries and actors are more dependent on each other and inter-connected
What is Interdependence?
Originally, its mission was to support reconstruction and to help less developed countries grow
What is the World Bank?
Year in which the GATT came into place?
What is 1947?
Key national institution to manage currency and monetary policies
What is the Central Bank?
Currency system that was used before the emergence of the Bretton Woods system
What is the gold standard?
Period in which world trades accelerated in such a dimension and speed that the term “globalization” started to be commonly used.
What is the second half of the 20th century?
Institution which mission is to lend money to countries that are in fiscal or monetary trouble to implement their projects
What is the IMF?
Name given to the main trade barriers addressed by the GATT
What are tariffs?
Type of economic strategies that influences interest rate and the supply of money and credit
What is monetary policy?
When a country exports something at a price below what it would be sold for nationally
What is dumping?
Type of globalization in which information moves almost in real-time, together with the interconnection of events and their consequences
Year in which the IMF came to existence
What is 1945?
Name of the process in which a good may cross one or more international borders as it is produced
What is a Global Supply Chain?
Currency to which all the currencies connected to after the creation of the Bretton Woods system
What is the USD?
Famous economist that is considered the founding father of the Bretton Woods Institutions
Who is John Maynard Keynes?
Concept that argues that globalization has not benefited all the countries in the same way
What is globalization being injust?
One of the main elements of the recommendations that the IMF normally makes to countries
What is to decrease public spending?
In international trade, phytosanitary, health and safety restrictions are examples of this
What are non-tariff barriers?
Second most important currency in the ranking of allocated global reserves
What is the euro?
Type of trade restriction that limits the quantity of goods that two countries can export/import
What is a quota?