All Flashcards
Compare the economic impact of the internet and cell phones.
Internet: Revolutionized commerce, communication, and information access. Cell Phones: Increased connectivity, changed social interactions, and impacted driving habits.
Compare the effects of NAFTA and the TPP.
NAFTA: Increased trade between US, Canada, and Mexico. TPP: Aimed to increase trade between US and Asia-Pacific countries.
Compare the trade initiatives implemented by President Jimmy Carter and President Ronald Reagan.
President Jimmy Carter: implemented a number of trade initiatives, including the creation of the Department of Trade and the negotiation of a number of free trade agreements. President Ronald Reagan: implemented a number of trade initiatives, including the negotiation of the Canada-United States Free Trade Agreement and the North American Free Trade Agreement (NAFTA).
Define globalization.
Increasing interconnectedness of the world through trade, investment, and cultural exchange.
What is post-industrialization?
Shift from a manufacturing-based economy to a service and information-based economy.
Define the Rust Belt.
Region in the Midwest that experienced industrial decline and economic hardship.
What was the Dot Com Bubble?
Speculative bubble from 1995-2000 when internet-based companies were extremely overvalued.
Define economic inequality.
Unequal distribution of income and wealth among individuals or groups.
What is the racial wealth gap?
Disparity in wealth accumulation between different racial groups.
What is the World Trade Organization (WTO)?
International organization that oversees trade agreements between nations.
What is the Group of 8 (G8)?
International forum for the governments of 8 major industrialized nations.
Define NAFTA.
North American Free Trade Agreement between the US, Canada, and Mexico.
Define Trans-Pacific Partnership (TPP).
Proposed trade agreement between several countries in the Asia-Pacific region.
When did the World Wide Web go public?
When was the iPhone first launched?
What was the significance of the 2008/2009 Great Recession?
A major economic downturn that had a significant impact on the US and global economies.
What was the significance of the creation of the Department of Trade?
Implemented a number of trade initiatives, including the creation of the Department of Trade and the negotiation of a number of free trade agreements.
What was the significance of the negotiation of the Canada-United States Free Trade Agreement and the North American Free Trade Agreement (NAFTA)?
These agreements helped to increase trade between the United States and its North American neighbors, and they helped to stimulate economic growth in the region.
What was the significance of the expansion of free trade agreements with countries in Latin America and Asia?
The Bush administration also supported the creation of the World Trade Organization, which helped to facilitate trade between countries around the world.
What was the significance of the negotiation of the Trans-Pacific Partnership (TPP)?
A free trade agreement with countries in the Asia-Pacific region.
What was the significance of the withdrawal from the TPP, the renegotiation of trade agreements with countries like Mexico and Canada, and the implementation of tariffs on a number of imported goods?
Marked by a number of significant changes in American trade policy.