Chapter 10
What is trade liberalization?
the process of reducing/removing barriers so goods and services can move more freely
Provides loans to countries in financial difficulty
World Bank
Success in terms of wealth, quality of life and access to goods and services.
Prosperity
The Paris Agreement
What is deregulation?
The reduction of government rules controlling industries intended to increase competition.
Monitors exchange rates to ensure fair trading between countries, provides financial support, and helps countries improve how they manage resources and money
IMF
What is sustainability?
The ability to meet our needs today without preventing future generations from meeting theirs.
Crown Corporation
Provides essential goods and services, regulate sensitive or dangerous industries, support national unity and identity.
What are trade blocs?
Groups of countries that agree to trade agreements and reduce/remove barriers among themselves.
Was created to reduce tariffs and trade barriers between countries. What was it eventually formed into?
GATT, turned into the WTO
What is stewardship?
Taking responsibility for managing Earth's resources so they remain available in the future.
Communism
Centrally planned
Countries that increase trade barriers to prioritize local industries
Protectionism
Set rules for global trade and help countries resolve disputes. Countries that don't abide by the rules can be expelled.
WTO, expanded on GATT. Uses a one country, one vote system, where systems are consensus.
The measure of how much land and resources are needed to support a person's lifestyle, including the waste they produce
Ecological Footprint
Free Market
Capitalism
Allowed goods to move between the countries with little or no trade barriers
NAFTA
What is CUSMA?
Replaced NAFTA, same goal of reducing trade barriers between countries. Now has includes stronger labor protections and environmental standards.
First major global efforts to reduce greenhouse gas emissions, set targets to reduce emissions below 1990 levels. Countries created their own plans to meet targets.
Kyoto Protocol
3 economists
Keynes, Friedman, and Hayek. Left, middle, and right side of arrow.