AP World History: Modern · Globalization

Flashcard deck · Test Prep · AP World History: Modern · History

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144 cards on AP World History globalization topics: WTO, IMF, NAFTA, neoliberalism, FDI, brain drain, structural adjustment, and the Washington Consensus.

Terms in this deck

Globalization
The process of increasing interconnectedness among countries through trade, communication, and cultural exchange, accelerating rapidly after the Cold War.
Artificial Intelligence (AI)
Computer systems that perform tasks requiring human-like reasoning, increasingly transforming industries, labor markets, and global competition.
Economic Integration
The process by which national economies become linked through trade, investment, and shared financial systems, reducing barriers between them.
World Trade Organization (WTO)
An international body established in 1995 that regulates global trade rules and resolves disputes between member nations.
Push Factors
Conditions in a home country, such as poverty or conflict, that drive people to emigrate elsewhere.
Offshoring
Moving business operations or manufacturing to another country, usually to take advantage of cheaper labor or lower taxes.
Brain Drain
The emigration of highly educated or skilled workers from developing countries to wealthier nations, weakening the sending country.
Global Supply Chain
The network of producers, suppliers, and distributors across multiple countries that cooperate to create and deliver a single product.
E-Commerce
Buying and selling goods and services over the internet, enabling businesses to reach global consumers without physical storefronts.
Neoliberalism
An economic ideology favoring free markets, deregulation, privatization, and reduced government spending, dominant in global policy since the 1980s.
International Monetary Fund (IMF)
An international organization that provides financial assistance and advice to countries facing economic crises and promotes global monetary stability.
Multinational Corporation (MNC)
A company that operates in multiple countries, producing and selling goods or services across national borders to maximize profit.
World Bank
An international financial institution that provides loans and grants to developing countries for infrastructure and development projects.
Free Trade
An economic policy where countries trade without government-imposed tariffs, quotas, or other restrictions on imports and exports.
Refugee
A person forced to flee their home country due to persecution, war, or natural disaster, seeking safety abroad.
Foreign Direct Investment (FDI)
When a company or government invests money in business operations in another country, often building factories or acquiring firms.
Structural Adjustment Programs
IMF and World Bank policies requiring developing countries to cut spending, privatize industries, and open markets in exchange for loans.
Social Media
Digital platforms allowing users to create and share content globally, influencing culture, politics, and economic activity.
Remittances
Money sent by migrants back to their home country, often a major source of income for developing nations.
Export-Oriented Industrialization
A development strategy where countries grow their economies by manufacturing goods primarily for export to wealthier nations.
Internet
A global network of computers enabling instant communication, commerce, and information sharing, fundamentally reshaping economies and societies.
Digital Revolution
The shift from analog to digital technology beginning in the late 20th century, transforming communication, commerce, and information access globally.
Special Economic Zone (SEZ)
A designated area within a country offering tax incentives and relaxed regulations to attract foreign investment and manufacturing.
Global Migration
The movement of people across international borders, driven by economic opportunity, conflict, or environmental pressures.
North American Free Trade Agreement (NAFTA)
A 1994 trade agreement between the US, Canada, and Mexico that eliminated most tariffs and promoted economic integration.
Washington Consensus
A set of free-market economic policies promoted by the IMF and World Bank for developing nations in the 1980s and 1990s.
Bretton Woods System
The post-WWII international monetary framework that established fixed exchange rates and created the IMF and World Bank.
Tariff
A tax placed on imported goods by a government, used to protect domestic industries or generate revenue.
Pull Factors
Attractive conditions in a destination country, such as jobs or safety, that draw immigrants toward it.
Outsourcing
When a company hires workers or firms in another country to perform tasks, often to reduce labor costs.
Microfinance
Small loans and financial services offered to low-income individuals and entrepreneurs, often in developing countries, to stimulate economic growth.
Financialization
The growing dominance of financial markets and institutions in the global economy, sometimes at the expense of manufacturing and production.
Sweatshop
A factory, often in a developing country, where workers labor under poor conditions for very low wages, frequently linked to global supply chains.
Climate Change
Long-term shifts in global temperatures and weather patterns, largely driven by human greenhouse gas emissions since industrialization.
Comparative Advantage
The economic principle that countries benefit by specializing in producing goods they can make most efficiently and trading for others.
Current Account Deficit
When a country imports more goods, services, and capital than it exports, resulting in a net outflow of money to other nations.
Austerity Measures
Government policies that reduce public spending and raise taxes to cut budget deficits, often required by the IMF during financial crises.
Balance of Trade
The difference between the value of a country's exports and its imports; a surplus means more exports, a deficit means more imports.
Race to the Bottom
The tendency for countries to lower wages, taxes, or environmental standards to attract multinational corporations and foreign investment.
Trade Liberalization
The removal or reduction of restrictions on international trade, such as tariffs and quotas, to allow goods and services to flow more freely between countries.
Anti-Globalization Movement
A social movement opposing the negative effects of economic globalization, including inequality, environmental harm, and cultural erosion.
Cultural Homogenization
The process by which global cultures become increasingly similar, often due to the spread of Western media, products, and values.
Maquiladora
A factory in Mexico, often near the US border, that assembles imported materials into finished goods for export under favorable trade terms.
Global Value Chain
The full range of activities involved in creating a product, from design and production to marketing, spread across multiple countries.
Greenhouse Gas Emissions
Gases like CO2 and methane released by burning fossil fuels that trap heat in the atmosphere, driving climate change.
Global Inequality
The vast gap in wealth, income, and opportunity between rich and poor nations, widened by uneven globalization.
Deforestation
The large-scale clearing of forests for agriculture or development, reducing biodiversity and increasing carbon dioxide in the atmosphere.
Trade Deficit
A situation where a country imports more than it exports, leading to a net outflow of money to trading partners.
Capital Flight
The rapid movement of money and assets out of a country due to political instability, poor economic conditions, or unfavorable policies.
Export Processing Zone
A designated area where businesses can import materials and export finished goods with reduced tariffs, used to attract foreign investment.
Transnational Corporation
A large company that operates across multiple countries, similar to an MNC, managing production and sales on a global scale.
Currency Exchange Rate
The price at which one country's currency can be exchanged for another, affecting the cost of international trade and investment.
McDonaldization
The global spread of standardized, fast-food-style consumer culture, symbolizing the homogenizing effect of Western corporations worldwide.
Paris Agreement
A 2015 international accord where nations pledged to limit global temperature rise by reducing greenhouse gas emissions.
Global Health
The study and practice of improving health and achieving health equity for people worldwide, including pandemic prevention and response.
Protectionism
Government policy of restricting imports through tariffs, quotas, or subsidies to shield domestic industries from foreign competition.
BRICS
An association of major emerging economies — Brazil, Russia, India, China, and South Africa — representing growing global economic influence.
Asian Tigers
The nickname for Hong Kong, Singapore, South Korea, and Taiwan, economies that rapidly industrialized through export-led growth after the 1960s.
Americanization
The spread of American cultural products, values, and consumer habits around the world through media and commerce.
Sovereign Debt Crisis
A situation where a country cannot repay or refinance its government debt, often leading to austerity measures and international bailouts.
Kyoto Protocol
A 1997 international agreement that committed industrialized nations to reduce greenhouse gas emissions to combat global warming.
Biodiversity Loss
The decline in the variety of plant and animal species on Earth, driven by habitat destruction, pollution, and climate change.
Economic Liberalization
The reduction of government restrictions on trade and markets, allowing freer movement of goods, capital, and services.
Platform Economy
An economic model built around digital platforms like Amazon or Uber that connect buyers and sellers, transforming labor and commerce globally.
Global Commons
Resources shared by all nations, such as oceans, atmosphere, and Antarctica, that require international cooperation to manage.
United Nations (UN)
An international organization founded in 1945 to promote peace, security, human rights, and cooperation among member states.
Glocalization
The adaptation of global products and ideas to fit local cultural preferences, blending worldwide trends with local traditions.
Gross Domestic Product (GDP)
The total monetary value of all goods and services produced within a country in a given period.
Xenophobia
Fear or hatred of foreigners or strangers, which can fuel anti-immigration sentiment and resistance to cultural diversity.
Dollarization
When a country adopts the US dollar as its official currency, often to stabilize its economy and reduce inflation.
Populism
A political approach that frames politics as a struggle between ordinary people and corrupt elites, often fueling anti-globalization sentiment.
Nationalism
Strong loyalty to one's own nation, which can motivate resistance to globalization by prioritizing domestic culture and economic interests.
Asylum Seeker
A person who has left their home country and applied for refugee status and legal protection in another country.
4G/5G Networks
Mobile communication technologies that enable fast wireless internet, supporting global connectivity and powering the digital economy.
Human Development Index (HDI)
A UN measure ranking countries by life expectancy, education, and income per capita to assess overall well-being.
Purchasing Power Parity (PPP)
A method of comparing economic productivity and living standards between countries by equalizing currency differences.
Automation
The use of technology and machines to perform tasks previously done by humans, reshaping industries and labor markets worldwide.
Diaspora
A dispersed population that has spread from its original homeland, maintaining cultural ties and often sending remittances back home.
G20
A forum of the world's 20 largest economies that coordinates international economic policy and addresses global financial issues.
Cryptocurrency
A digital or virtual currency secured by cryptography and operating on decentralized networks, such as Bitcoin, outside traditional banking systems.
Brexit
The 2016 decision by the United Kingdom to leave the European Union, reflecting voter backlash against globalization and immigration.
Trade Surplus
When a country exports more than it imports, resulting in a positive balance of trade and net inflow of money.
Cultural Imperialism
The imposition of one culture's values, practices, and products on other societies, often associated with Western and especially American influence.
Internally Displaced Person (IDP)
Someone forced to flee their home due to conflict, violence, or disaster but who remains within their own country's borders.
Global Governance
Systems of rules and institutions that coordinate action among nations on issues like trade, security, and the environment.
Cybersecurity
Practices and technologies designed to protect computers, networks, and data from unauthorized access, attacks, or damage in the digital age.
Multiculturalism
A policy or social condition where multiple cultural groups coexist within a society, each maintaining distinct identities.
Digital Divide
The gap between populations with access to modern digital technology and the internet and those without, often falling along economic lines.
Carbon Footprint
The total amount of greenhouse gases, especially CO2, produced by an individual, organization, or product, contributing to climate change.
Gig Economy
A labor market characterized by short-term contracts and freelance work, often facilitated by digital platforms, rather than permanent employment.
Mercosur
A South American trade bloc promoting free trade and economic integration among Argentina, Brazil, Uruguay, and other members.
ASEAN
The Association of Southeast Asian Nations, a regional bloc promoting economic cooperation and political stability in Southeast Asia.
UNESCO
A UN agency that promotes education, science, and cultural heritage protection to foster peace and international understanding.
European Union (EU)
A political and economic union of European nations sharing a single market, common regulations, and, for many, a shared currency.
Intellectual Property Rights
Legal protections for inventions, creative works, and brand names that give creators exclusive rights to profit from their work.
Surveillance Capitalism
A business model in which companies collect and sell user data to predict behavior and target advertising.
World Health Organization (WHO)
A UN agency that leads global health efforts, sets health standards, and coordinates responses to international disease outbreaks.
Microchip Revolution
The development of increasingly powerful and affordable semiconductors that enabled computers, smartphones, and modern digital technology.
Labor Migration
The movement of workers from one region or country to another in search of better employment opportunities.
Silicon Valley
A region in California that became the global hub of technology innovation, home to major tech companies and startups.
Soft Power
A country's ability to influence others through culture, diplomacy, and appeal rather than military or economic coercion.
Bilateral Trade Agreement
A trade deal between two countries that reduces barriers and sets rules governing their economic exchange.
Net Neutrality
The principle that internet service providers must treat all internet traffic equally without favoring or blocking specific content.
Guest Worker Program
A policy allowing foreign nationals to work temporarily in a host country, often filling labor shortages in specific sectors.
Pop Culture Globalization
The worldwide spread of popular entertainment such as music, film, and fashion, often driven by Western media industries.
Civil Society
The network of organizations, groups, and individuals outside government that advocate for public interests and social change.
Technology Transfer
The process by which technology, knowledge, or innovations spread from one country or organization to another.
Cultural Diffusion
The spread of cultural beliefs, practices, and goods from one society to another through trade, migration, or media.
Container Shipping
The use of standardized steel containers to transport goods by sea, dramatically lowering the cost of international trade.
Venture Capital
Private funding provided to startup companies and entrepreneurs in exchange for equity, fueling innovation and economic growth.
Fossil Fuel Dependency
The heavy reliance of modern economies on coal, oil, and natural gas, contributing significantly to greenhouse gas emissions.
Non-Governmental Organization (NGO)
A nonprofit group operating independently of governments that addresses social, humanitarian, or environmental issues globally.
Transnationalism
The process by which migrants maintain strong social, cultural, and economic connections to both their home and host countries.
Regional Trade Bloc
A group of neighboring countries that agree to reduce trade barriers among themselves, such as the EU or ASEAN.
Cultural Exchange
The sharing of ideas, traditions, art, and practices between different societies, enriching both through mutual exposure.
Just-in-Time Manufacturing
A production strategy that minimizes inventory by receiving goods only as they are needed in the assembly process.
Open-Source Technology
Software or technology whose source code is freely available for anyone to use, modify, and distribute collaboratively.
Economic Migrant
A person who moves to another country primarily to find work or improve their standard of living.
African Union (AU)
A continental organization of African states working toward political unity, economic development, and conflict resolution across Africa.
Offshoring of Services
Moving service-sector jobs such as call centers or IT support to lower-cost countries to reduce operational expenses.
Water Scarcity
A shortage of clean freshwater resources driven by population growth, pollution, and climate change, increasingly recognized as a global security threat.
Unequal Exchange
A trade relationship in which developing nations export cheap raw materials while importing costly manufactured goods, perpetuating economic disadvantage.
Debt Trap Diplomacy
A criticism of Chinese infrastructure loans, alleging that unsustainable debt gives China leverage over borrowing nations strategic assets.
Commodity Chain
The sequence of activities from raw material extraction to final product sale, often spanning multiple countries with different labor costs.
Social Safety Net
Government programs such as unemployment benefits and healthcare that protect citizens from economic hardship, often reduced under austerity or neoliberal reforms.
Child Labor
Employment of children in often dangerous or exploitative conditions, prevalent in some global manufacturing and agriculture sectors with weak labor protections.
Gentrification
The transformation of urban neighborhoods through investment and rising costs that displaces lower-income residents, often linked to globalized real estate markets.
Belt and Road Initiative
China s massive global infrastructure investment program connecting Asia, Africa, and Europe through ports, roads, and rail to expand trade networks.
Informal Economy
Economic activity not regulated or taxed by governments, including street vending and day labor, which employs a large share of workers in developing nations.
Most-Favored-Nation Status
A trade agreement principle requiring a country to extend the same favorable trade terms it gives one partner to all WTO members.
Demographic Dividend
Economic growth potential arising when a large working-age population supports fewer dependents, often seen in rapidly developing nations.
Petrodollar System
The global practice of pricing oil in US dollars, reinforcing dollar dominance and tying oil revenues to the American financial system.
Microprocessor
A tiny chip that processes data and powers computers, smartphones, and countless devices, serving as a core driver of the digital economy.
Ocean Acidification
The decrease in ocean pH caused by absorption of excess CO2, threatening marine ecosystems and coral reefs worldwide.
Economic Corridor
An infrastructure project linking regions or countries to facilitate trade, investment, and development, such as the China-Pakistan Economic Corridor.
Trade War
An economic conflict where countries impose escalating tariffs and trade barriers on each other, disrupting global commerce and supply chains.
E-Waste
Discarded electronic devices that contain toxic materials, often exported to developing nations where informal recycling causes serious environmental harm.
Technological Leapfrogging
When developing nations skip older technologies and adopt newer ones directly, such as moving straight to mobile banking without building landline infrastructure.
Labor Arbitrage
Companies exploiting wage differences between countries by relocating production to where workers earn significantly less.
Predatory Lending
Unfair loan practices that trap borrowers in cycles of debt, common in both consumer finance and international development loans to poorer nations.
Subsidies
Government payments or tax breaks given to domestic industries to make them more competitive, often used to counter foreign competition and protect local jobs.
Deindustrialization
The decline of manufacturing in developed countries as production moves to lower-wage nations, resulting in job losses and economic restructuring.
Dumping
Selling goods in foreign markets below production cost to undercut competitors, often leading to trade disputes and WTO complaints.
Forced Labor
Work extracted through coercion or threats, present in global supply chains and considered a serious human rights violation under international law.

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