Understanding Economic Interdependence, IMF, and Global Security
Economic Interdependence and Globalization
Economic Interdependence: A consequence of specialization or the division of labor. Participants in an economic system must be part of a trading network to obtain products they cannot efficiently produce themselves. One by-product of economic interdependence is globalization, where each nation and its economy are dependent on other nations for products and goods. For example, the United States today depends on China to provide it with many goods.
Key International Organizations and Concepts
IMF (International Monetary Fund): An international organization consisting of 189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
International Criminal Court (ICC): The ICC has the jurisdiction to prosecute individuals for international crimes of genocide, crimes against humanity, and war crimes.
Sectarian Conflict: A form of communal violence inspired by sectarianism, that is, between different sects of one particular mode of ideology or religion within a nation/community. Religious segregation often plays a role.
Security Dilemma: A situation in which, under anarchy, actions by a state intended to heighten its security, such as increasing military strength, can lead other states to respond with similar measures, producing increased tension that can create conflict, even when no side really desires it.
Example: WORLD WAR I
International Law and Security Questions
What is an “exclusive economic zone” under international maritime law?
It is a sea zone prescribed by the United Nations Convention on the Law of the Sea over which a state has special rights regarding the exploration and use of marine resources, including energy production from water and wind.
Why does Economic Liberalism believe that war and the use of military force are not very likely among trade partners?
Because both parties can mutually benefit from economic exchange to realize common gains by building international organizations.
What is a common market?
A group of countries imposing few or no duties on trade with one another and a common tariff on trade with other countries.
Under the NPT, what is one pledge countries who possess nuclear weapons make?
Work towards disarmament and promote peaceful nuclear energy.
War crimes are:
Violations of international rules of war, mistreatment of prisoners, or unnecessarily targeting civilians.
The Kurds argue in favor of ‘Every nation, One State.’ What IR concept is related to this phrase?
Regional Autonomy
Since 1980, 39 new countries became classified as fully democratic, raising the number to 90. However, from 2011 to 2012 there were significant reversals in democratic governance in the world. Which IR theory is most likely to focus on these facts?
Democratic Peace Theory
Anti-terrorism policies differ from counter-terrorism policies because they involve what kinds of policies, actions, and measures?
Anti-terrorism Policy: law enforcement, intelligence, security vs. Counter-terrorism Policy: use of military force
In the absence of a world currency, the IMF created SPECIAL DRAWING RIGHTS which can also be exchanged for national currencies.