Glossary
Association of Southeast Asian Nations (ASEAN)
A regional intergovernmental organization comprising ten Southeast Asian countries, promoting economic, political, security, military, educational, and socio-cultural integration.
Example:
Through Association of Southeast Asian Nations, member countries collaborate on issues like disaster relief and regional trade agreements.
Bretton Woods Conference
A 1944 conference held in Bretton Woods, New Hampshire, which established the International Monetary Fund (IMF) and the World Bank, laying the foundation for the post-WWII international financial system.
Example:
The decisions made at the Bretton Woods Conference profoundly shaped global economic policy for decades, promoting stability and reconstruction.
European Economic Community (EEC)
An international organization established in 1957 by the Treaty of Rome, designed to promote economic integration among its six founding members, and a precursor to the European Union.
Example:
The European Economic Community initially focused on creating a common market for goods, services, capital, and labor among its members.
European Union (EU)
A political and economic union of 27 member states located primarily in Europe, aiming to promote economic integration, social cohesion, and environmental sustainability.
Example:
Citizens of European Union member states can often travel and work freely across national borders within the union.
Free Trade Agreements (FTAs)
Pacts between two or more countries to reduce or eliminate certain barriers to trade, such as tariffs and quotas, to facilitate the exchange of goods and services.
Example:
The signing of Free Trade Agreements often leads to lower prices for consumers as imported goods become cheaper.
General Agreement on Tariffs and Trade (GATT)
A post-World War II international agreement that aimed to reduce tariffs and other trade barriers, serving as the precursor to the World Trade Organization.
Example:
The initial rounds of the General Agreement on Tariffs and Trade significantly lowered import taxes on many goods, boosting global commerce.
General Assembly (UNGA)
The main deliberative, policymaking, and representative organ of the United Nations, where all 193 member states have equal representation and can discuss global issues.
Example:
During its annual session, the General Assembly debates and passes resolutions on a wide range of international matters, from human rights to development.
Globalization
The increasing interconnectedness of countries through the exchange of goods, services, information, and culture, leading to a more integrated global economy and society.
Example:
The widespread availability of smartphones, manufactured in one country, designed in another, and sold globally, exemplifies modern globalization.
International Bank for Reconstruction and Development (IBRD)
One of the two main institutions of the World Bank Group, which provides loans and financial assistance to middle-income and creditworthy poorer countries.
Example:
A rapidly developing nation might secure a loan from the International Bank for Reconstruction and Development to invest in its education system.
International Development Association (IDA)
One of the two main institutions of the World Bank Group, which provides interest-free loans and grants to the world's poorest countries.
Example:
The International Development Association might provide funds to a country recovering from a natural disaster to rebuild essential services.
League of Nations
An international organization established after World War I with the goal of promoting world peace and preventing future conflicts, but it ultimately failed due to a lack of enforcement power and key member participation.
Example:
Despite its noble intentions, the League of Nations struggled to prevent aggression in the 1930s, highlighting the need for a stronger successor organization.
Multilateral FTAs
Trade agreements involving more than two countries, designed to reduce trade barriers and promote economic cooperation across a wider group of nations.
Example:
Negotiating Multilateral FTAs can be complex due to the diverse interests of many participating countries, but they can create vast new markets.
North American Free Trade Agreement (NAFTA)/USMCA
A trade agreement between Canada, Mexico, and the United States, which eliminated most tariffs and trade barriers among the three countries.
Example:
The North American Free Trade Agreement (NAFTA), now largely replaced by USMCA, significantly increased cross-border trade in automobiles and agricultural products.
Peacekeeping
A crucial function of the United Nations involving the deployment of forces (military, police, and civilian personnel) to help countries torn by conflict create conditions for lasting peace.
Example:
UN peacekeeping forces were deployed to East Timor to help stabilize the region after its independence vote.
Regional Economic Organizations
Groups of countries within a specific geographical area that collaborate to promote economic integration, cooperation, and shared development among their members.
Example:
The formation of Regional Economic Organizations like the EU has led to increased trade and political alignment among neighboring states.
Secretariat
The administrative arm of the United Nations, responsible for the day-to-day operations and carrying out the mandates of the UN's other principal organs.
Example:
The UN Secretariat manages the logistics for peacekeeping missions and prepares reports on global trends for member states.
Secretary-General
The chief administrative officer of the United Nations and its most visible public figure, serving as the UN's de facto spokesperson and leader.
Example:
The Secretary-General often travels to conflict zones to engage in diplomacy and advocate for peace.
Supranational organization
An international organization where member states cede some sovereignty to the organization, allowing it to make decisions that are binding on its members.
Example:
The European Union is a prime example of a supranational organization, as its laws can directly affect the policies of its member countries.
Trans-Pacific Partnership (TPP)
A proposed trade agreement among 12 Pacific Rim countries, aiming to lower trade barriers and set common standards for trade and investment.
Example:
Although the US withdrew, the remaining countries continued with a modified version of the Trans-Pacific Partnership, demonstrating ongoing commitment to regional trade integration.
United Nations (UN)
A global intergovernmental organization established in 1945 to promote international cooperation, maintain peace and security, and address global challenges.
Example:
The United Nations frequently convenes its member states to discuss pressing issues like climate change or humanitarian crises.
World Bank
An international financial institution that provides loans and grants to the governments of low- and middle-income countries for capital projects, aiming to reduce poverty.
Example:
The World Bank might fund a large infrastructure project, such as building a new dam or a network of roads, in a developing nation.
World Trade Organization (WTO)
An intergovernmental organization that regulates and facilitates international trade, aiming to reduce barriers and promote fair competition among nations.
Example:
When two countries have a dispute over trade tariffs, the World Trade Organization often serves as the mediator to resolve the issue.