Describe the role of economic interdependence and the Bretton Woods agreement in shaping foreign policy.
What will be an ideal response?
Most of the nations of the world are linked through the trade of goods, services, and currencies. As a result, financial growth and decline are typically felt throughout this global economy and, as a result, they have an impact in shaping foreign policy. Through the buying and selling of goods to an international market, the United States is increasingly dependent upon what other countries do. One key example of America’s role in defining this world economic system is the Bretton Woods agreement wherein the participating countries agreed to found a global economic system based on the principle of capitalism at home and free trade among states. Responses should include a definition of free trade as well as descriptions of the three key economic institutions to emerge from this agreement: the IMF, the World Bank, and GATT.
You might also like to view...
Which of the following is a factor explaining why incumbent members of the U.S. House usually win reelection?
a. Voters perceive House races in terms of national issues, and polls show that voters believe that experience is important for those types of issues. b. Congress as a whole is held in such high regard by the voters that individual members of Congress have a relatively easy time winning reelection. c. Incumbents are much better known and funded than challengers are. d. Incumbents often make enemies while in office. e. Incumbents are perceived as all-powerful and unbeatable.
In response to globalization, LMEs tend to
a. increase the role of unions b. proceed very cautiously c. increase worker training d. strengthen market mechanisms
Which of the following treaties ended the Mexican-American War, recognizing Mexico's loss of Texas and other territories to the United States?
A. Treaty of Cahuenga B. Treaty of Córdoba C. Treaty of Mignano D. Treaty of Guadalupe Hidalgo E. Treaty of Phoenice
Which economic theory called on host countries to revolt against multinational corporations and take ownership of their property?
A) Dependency theory B) Export-led growth C) Import substitution industrialization D) Modernization theory E) Neoliberalism