Chapter 8: Global Economy Thug of War (US-China Trade Wars)

Global economy
• Global economy refers to one giant economic system where all of the economies of the world
work together.
• It is an economic interdependence established between the most influential countries that
drives the worldwide economic environment.
• It is also the aggregate economic output, movement and influence of all countries.
Important Terms to Remember
1. Non-tariff barriers
- are methods of limiting imports without charging a tax on goods coming into a country.
Ex: quotas, embargoes, and others.
2. Preferential trade agreement
- is when a group of countries deals to reduce tariff, give preferential access to certain products
from the participating country.
3. Economic and monetary union
- is a common market that uses a common or single currency.
4. Leapfrogging
- idea that countries can skip straight to more efficient and cost-effective technologies that were
not available in the past.
5. Gross national product
- total value of the goods and services produced by the people of a nation during a specified year.
It includes the money earned by the Overseas Filipino Workers (OFWs)
6. Per Capita Income
- average income earned per person.
- Is equal to the total income divided to its total population.
7. Sanctions
- occurs when a country bans all trade activities from another country.
8. Ad Valorem
- tariff that depends on the original price of the product, usually it is 10% of the original price of
the product that is being imported.
9. Stagflation
- persistent high inflation combined with high unemployment and stagnant demand in country’s
economy (low GDP with a high inflation).
10. Gross domestic product
- measures the total outputs of the country.
Global economic inequality
• Different nations are divided between the North and the South, developed and less developed.
• Whites are disproportionately in the dominant North, while blacks are primarily in the South;
although this is changing with South to North migration.
• Countries such as, Canada, United States, Western Europe, developed parts of Asia are
regarded as rich countries;
• Countries in the Caribbean, Latin America, South America, Africa, and other parts of Asia which
include the Philippines are regarded as poor countries.
2 Types of Global Inequality
1. Wealth Inequality
- refers to the unequal distribution of assets in a group of people.
2. Income Inequality
- Refers to the extent to which income is distributed unevenly in a group of people

Legacy of Colonialism
1. Colonialism
- means that foreign power maintains political, social, economic, and cultural domination for an
extended period.
2. Neocolonialism
- continued dependence on more industrialized nations for managerial and technical expertise by
former colonies.

The World Economic System

The world economic system is divided into a hierarchy of 3 types of countries:
1. The Core
- dominantly capitalist.
- have high levels of industrialization and urbanization
- capital intensive, have high wages and have high technology production. - exploit both semi-
peripheral and peripheral countries.
Ex: United States, Japan and Germany.
2. Semi-peripheral
• less developed than core nations but more developed than peripheral nations.
• exploit peripheral countries, just as core countries exploit both semiperipheral and peripheral
countries
• They are the buffer between the core and peripheral countries. Examples: Mexico, Brazil, India,
Nigeria and South Africa
3. Peripheral
- dependent on core countries for capital
- less industrialized and urbanized.
- usually agrarian, have low literacy rates and lack consistent Internet access.
- generally provide labor and materials to core countries.
Ex: most African countries and low income countries in South America
2 Types of Different Economies Associated with Economic Globalization
1. Trade Protectionism
• a policy of systematic government intervention in foreign trade with the objective of
encouraging domestic production.
• this encouragement involves giving preferential treatment to domestic producers and
discriminating against foreign competitors.
• protecting one’s economy from foreign competition by creating trade barriers.
Tariff - a tax imposed by a government on goods and services imported from other countries that
serves to increase the price and make imports less desirable, or at least less competitive, versus
domestic goods and services.
2. Trade Liberalization or Free Trade
• opposite of Trade Protectionism
• is the removal or reduction of restrictions or barriers on the free exchange of goods between
nations.
• goods and services move around the world more easily than ever.

US- China Trade Wars

• The dispute has seen the US and China impose tariffs on hundreds of billions of dollars worth of
one another's goods.
• With tariffs on Chinese products high, US importers are turning to other countries.
What tariffs have been imposed?
• The US has imposed tariffs on more than $360bn of Chinese goods, and China has retaliated
with tariffs on more than $110bn of US products.
• The most recent round targeted Chinese imports, from meat to musical instruments, with 15%.
• Beijing hit back with tariffs ranging from 5% to 25% on US goods.
• Trump's tariffs policy aims to encourage consumers to buy American products by making
imported goods more expensive.
COVID 19 Effect
• China’s economy has been able to bounce back since the second quarter of 2020.
• As one of the first major economies to come out of lockdown, it has been able to provide
countries like the US with the products they need.
• Part of this was due to increasing exports of health supplies and equipment
• Imports of face masks from China to the US, for example, have increased more than 10-fold.
Other countries benefited
• US consumers and manufacturers are shifting to other countries to get the products they need.
• The gain is large for countries who can produce similar products to those made in China.
Ex:
• Mexico: Between 2017 and 2019, the country exported an estimated $4.7 billion more to the
US as a result of the trade dispute.
• Vietnam: The additional $6.4 billion gained during the two years of the conflict is equal to
almost twice the country’s entire yearly health care spending.
Chapter 9: The Arbitration Award and Asian Regionalism

South China Sea Conflict

• The Philippines, Vietnam, China, Brunei, Taiwan, and Malaysia hold different, sometimes
overlapping, territorial claims over the sea, based on various historical and geographic accounts.
• China claims more than 80 percent, while Vietnam claims sovereignty over the Paracel Islands
and the Spratly Islands.
• The conflict has remained unresolved for decades, but has more recently emerged as a
flashpoint in China-U.S. relations in Asia.
Trade and economic significance of South China Sea
• The South China Sea is a very important commercial waterway connecting Asia with Europe and
Africa, and its seabed is rich with natural resources.
• The sea is believed to contain significant natural resources, such as natural gas and oil.
• It also accounts for 10% of the world's fisheries, making it a critical food source for hundreds of
millions of people.
South China Sea Conflict
• Favorable ruling was granted by the Permanent Court of Arbitration at Hague to the Republic of
the Philippines awarding ownership to disputed islands in the Philippine West Sea including
Spratly Islands which possess rich natural resources and fishing areas.
• Senator Arturo Tolentino had cemented our claim through his fiercely participation which
resulted grant of 200 miles exclusive economic zones to countries which are archipelagic in
nature.
• The UNCLOS or the United Nations Convention on the Law of the Seas covers all countries
which were signatories thereof.

Introduction to Asian Regionalism

Regionalism
• strengthened collective identity in a conglomerate of nations occupying a particular geographic
area;
• refers to the decentralization of political powers or competencies from a higher towards a
power political level
• a political ideology that favors a specific region over a greater area.
Note: CONGLOMERATE - a number of different things or parts that are put or grouped together
to form a whole but remain distinct entities.
Asian Regionalism
• It focuses on the relationship between ideas and politics and examines rapid growth of Asia’s
economy, financial stability and regional economic integration.
• governments need to connect the poor to the thriving regional economy by eliminating labor
market barriers, investing in workers’ capabilities, and building infrastructure to connect
disadvantaged regions with economic centers.
3 Factors Leading to greater integration
1. Trade
2. Similar Culture
3. Common Goals
Regional Trading Agreements
- refers to a treaty that is signed by two or more countries to encourage free movement of goods
and services across the borders of its members.
- it comes with internal rules that member countries follow among themselves.
- When dealing with non-member countries, there are external rules in place that the members
adhere to. Quotas, tariffs, and other forms of trade barriers restrict the transport of
manufactured goods and services.
- Regional trading agreements help reduce or remove the barriers on trade.

ASEAN (the Association of South East Asian Nations)

• is a regional grouping founded to promote accelerated economic growth, facilitate social
progress and cultural development, pursue regional peace in the Southeast Asian region through
multilateral cooperation.
• ASEAN was founded on August 8, 1968.
• Its original members are Indonesia, Philippines, Malaysia, Thailand, and
Singapore.
• Currently it has ten (10) members which included: Vietnam, Myanmar, Brunei Darrusalam,
Laos, and Timor Leste.
• The Regional Comprehensive Economic Partnership (RCEP) has been formed which included
mutual agreement with the United States, China, Japan, and South Korea.

APEC (Asia Pacific Economic Cooperation)

• was institutionalized with the goal of monitoring and analyzing regional markers and institutes
as well as governing rules and norms for facilitating transparent and effective business
transactions.
• operates on the basis of non-binding commitments, open dialogue and equal respect for views
of all participating economies.
• founded in 1989 consisting of 21 member-states.
• established to eliminate trade and investment barriers in Asia Pacific
region.
• Thirty (30%) percent of the world population is covered by APEC economies.
• It remains as a regional economic forum to leverage the growing interdependence of Asia
Pacific.
Chapter 10: Revisiting Philippine History in the Light of Global Governance and Global
Interstate System

Global governance
• encompasses the totality of institutions, policies, norms, procedures and initiatives through
which States and their citizens try to bring more predictability, stability and order to their
responses to transnational challenges.
• In the absence of a single authoritative institution or world government structure, global
governance is comprised of elements and methods from both the public and private sectors.
• These basic elements include agreed upon standards, evolving norms based on shared values,
and directives issued and enforced by states.
• Methods of global governance include harmonization of laws among states, international
regimes, global policy issue networks, and hybrid
institutions that combine functions of state agencies and private sector organizations.
History of Global Governance
• After 1945 the essence of global governance was realized.
• States started to accept importance of global trade and beginning to understand the necessity
of networking with global organizations to achieve desired development for their countries.
• International Financial Institutions (IFIs) established by United Nations like International
Monetary Fund (IMF) and World Bank (WB) are at the forefront.
• Multinational corporations existed to purposely spread opportunities to those developing
countries.
• Political experts and economic managers, however, argued that it seems underdeveloped or
poor countries tend to provide for developed countries rather than earn and grow on their own.

Institutions that govern international relation

• The world system perspective which emerged during the world’s revolution in 1968 and the
people from the third world were seen as direct target for further development.
• Global laws which originated from institutions that governed international relations made it
possible to ensure global peace which bind countries in disputes, hence, bring interconnectivity
between countries.
1. United Nations
- UN was invented by the former US President Franklin Delano Roosevelt and was established on
the 24th day of October, 1945.
- Fifty-one (51) countries committed in maintaining international peace and security after the
Second World War.
- UN have 193 members as of 2018.
- At present, Antonio Guterres of Portugal was recognized as Secretary- General appointed by the
General Assembly.
- On our end, Ambassador Carlos P. Romulo once served as UN Secretary-General.
Roles and Functions of UN
• Maintaining peace and building friendship among states.
• provide forum where countries could gather and discuss global issues through
General Assembly.
• Managing the planet to solve environmental global problems.
• Strengthen democracy; promotes transparency.
• Prevent conflict, helping parties in conflict to make peace, and create conditions to allow peace
to hold and flourish.
2. Regional Commissions
- Regional commissions play a very significant role in promoting sustainable development in their
respective regions.
- Composed of group of officials in-charged in policy making along areas of economy, science,
technology, laws, and social fields like protection of human rights their offices monitor, analyzes,
draft reports and provide recommendations to the commission on global substantive
deliberations and legislative processes.
Ex:
Economic and Social Commission for Asia and the Pacific (ESCAP) Economic Commissions for
Africa (ECA)
Economic Commissions for Europe (ECE)
Economic Commission for Latin America and the Caribbean (ECLAC) Economic and Social
Commission for Western Asia (ESCWA)
3. North Atlantic Treaty Organization (NATO).
- It provides unique link between the continents, enabling them to consult and cooperate in the
field of defense and security and conduct multi- national crisis management operations together.
- It is an international alliance consisting of 29 member-states from the North America and
Europe.
- NATO’s primary purpose is to defend member nations from threats from communist countries.
- It is an intergovernmental military alliance. The founding members are Belgium, Canada,
Denmark, France, Italy, United Kingdom and United States.
4. North American Free Trade Agreement (NAFTA).
- Is a three (3) country accord negotiated by the governments of Canada, Mexico, and United
States.
- NAFTA was established in 1994 with a purpose of removing barriers to the exchange of goods
and services among the three countries.
5. International Court of Justice (ICJ).
- Known as the world’s court was established in 1945 as the principal judicial organ of the United
Nations.
- ICJ has two (2) functions: first, to settle disagreements with international law and legal disputes
submitted by states and to give advisory on legal questions referred to it by authorized UN organs
and specialized agencies.
- It is composed of 15 judges elected to nine-year term of office by the General Assembly and the
Security Council.
6. Red Cross
- A leading non-governmental organizations (NGOs) which provides emergency relief such as
food, water, and medical supplies.
- It monitors treatment of prisoners of wars, those who were wounded during wars. International
Red Cross Headquarter is in Geneva, Switzerland.

Factors behind the emergence of global governance

• Vast flow of all sorts of things through border of nation-states.
• Mass migration of people and their entry into various nation-states.
• Increase of criminal elements.
• Horrendous events within nation-states.
• Global problems.
• Global financial problems and panic.

Challenges of Global Governance in the 21st Century

1. Wealth Distribution
- difference of income between the rich and the poor caused tension in society and global
governance.
2. Addiction
- Illegal drugs proliferate especially in poor countries.
- Poverty stricken communities are most vulnerable due to insufficiency of foods, unemployment
and high population density.
3. Human Health
- Health care associated infections like Covid-19.
- The world faces a longer term challenge, that is, a public health workforce that is truly effective
in the 21st century.
m
Chapter 11: Global Citizenship and Dual Citizenship: Duties and Obligations of a Citizen

Under the 1987 Philippine Constitution in particular Article IV, Section 1- the following are
citizens of the Philippines:
1. Those who are citizens of the Philippines at the time of the adoption of this Constitution.
2. Those whose fathers or mothers are citizens of the Philippines.
3. Those born before January 17, 1973, of Filipino mothers, who elect Philippine citizenship upon
reaching the age of majority.
4. Those who are naturalized in accordance with law.
Modes of Acquiring Filipino Citizenship
1. Filipino by birth (right of soil) is the legal principle that a person’s nationality at birth is
determined by the place of birth (e.g. the territory of a given state).
2. Jus Sanguinis (right of blood) is the legal principle that, at birth, an individual acquires the
nationality of his/her natural parents. The Philippines adheres to this principle.
Benefits of Being a Filipino Citizen
1. The right to vote and be voted.
2. The right to own property here in the Philippines.
3. The right to practice one’s own profession.
4. The right to possess a Philippine passport.
5. The right and privileges appurtenant to a Filipino citizen.

Global citizen (Rights and Civic Responsibilities)

• Global citizen is the idea that all people have rights and civic responsibilities that come with
being a member of the world, with whole-world philosophy and sensibilities, rather than as a
citizen of a particular nation or place.
• The idea is that one’s identity transcends geography or political borders and that
responsibilities or rights are derived from membership in a broader class which is “humanity”.
A global citizen is someone who:
1. Is aware of the wider world and has a sense of their own role as a world citizen.
2. Respects and values diversity.
3. Has an understanding of how the world works.
4. Is outraged by social justice.
5. Participates in the community at a range of levels, from local to the global.
6. Is willing to act to make the world a more equitable and sustainable peace.
7. Takes responsibility for their actions.
Characteristics of a Global Citizen
1. Respect multiculturalism.
2. Realizes that unity and cooperation are the basic features of global citizen.
3. Is aware that his/her actions affect the world around him/her.
4. Behaves respectively, and acts in an empathetic way.
5. Has teamwork spirit
6. Helps other people
7. Takes the responsibility of global issues concerned with his/her society.
8. Knows his/her duties and rights very well.
9. Acts as an active member of the society for the sake of improving it. 10. Understands that all
parts of the world are interconnected.

Types of Citizenship
1. Citizenship by birth
- if one or both of a person’s parents are citizen of a given state, then the person may have right
to be a citizen of that state as well.
Ex:
1 Boy – Filipino Citizen
1 Girl – Filipino Citizen
Place – Child born in Philippines
Child – Filipino Citizen

Dual citizenship
• is a situation that applies to an individual having both rights of his/her parents and right of birth
or soil.
Law in Foreign Country
- child born in their country will acquire their citizenship
- child of foreigner will acquire his citizenship
Ex. Fil-Am

2. Citizenship by Naturalization
- giving citizenship to people who have entered a country legally and have been granted permit to
stay and also lived there for a specified period.
Ex: Andray Blatche is a foreigner. To become eligible to play for Gilas Pilipinas, he applied for
naturalization in the Philippines to become a Filipino citizen.

3. Citizenship by Registration
- Former Filipinos may reacquire their Philippine citizenship through Republic Act (RA) No. 9225
or the Citizenship Retention and Reacquisition Act.
- This law declares that former natural-born Filipino citizens who acquired foreign citizenship
through naturalization are deemed to have not lost their Philippine Citizenship under the
conditions provided in the Act.
- A former Filipino can reacquire Philippine citizenship by taking the oath of allegiance to the
Republic of the Philippines.
Ex:
• Cardo is a Filipino born citizen. He went to America and he was naturalized. He decided to go
back to the Philippines to become a Filipino citizen again. So, he reacquired Philippine citizenship
by taking the oath of allegiance to the Republic of the Philippines.
Chapter 12: Global Cities: Engine of Development
Global city or World city
• A global city or world city are a concept which postulates that globalization can be broken down
in terms of strategic location that same reason could explain why Clark is being developed as a
Global City.
• A conference chaired by Dr. Lawrence Philipps held last June 26, 2006 could guide us how to
establish a “global city”, by examining criteria such as: images, narratives, economics, planning
and people’s experiences.
• Clark became a world-stage in the recently concluded 30th Southeast Asian Games.
• To some, Clark has potentials if fully developed which requires support from the government
and entirely from Filipino people.
• London, New York City, Paris, and Tokyo are considered the big four (4) as they also serve as
symbols of global capitalism.
Clark as Global City
• The move was approved by the Philippine Competition Commission on October 18, 2017 and
the acquisition was completed by November 14, 2017.
• Udenna Development corporation has been tasked to oversee the development of the project.
• It is planned that the whole business development to be completed in ten (10) years.
Bonifacio Global City
• It is a financial and lifestyle district in Taguig, Metro Manila, Philippines.
• Described as the home of passionate minds; continued as a world center of developments.
• It plays a significant role in the Philippines economic system by providing new ideas and
innovations.
Characteristics of a Global City
• Variety of international financial services, notably in finance, insurance, real estate, banking,
accountancy, and marketing.
• Headquarters of several multinational corporations.
• Existence of financial headquarters, stock exchange, and major
financial institutions.
• Major manufacturing centers with port and container facilities.
• Centers of media and communications for global networks.
• High-quality educational institutions, including renowned universities, international student
attendance, and research facilities.
• Multi-functional infrastructure offering some of the best legal, medical, and entertainment
facilities in the country.
• High diversity in language, culture, religion, and ideologies.
• Hub for transportation through air, water, and land.
• High percentage of residents employed in the services sector and information sector.
Global cities as engines of globalization
• In global cities, it is in these cities that global operations are centralized, and where one can see
most clearly the phenomena associated with their activities, when it changes in the structure of
employment, formation of powerful partnerships, development of monumental real estate
• Cities provide sustainable labor force, making available the required physical and technological
infrastructure, creating a stable and accommodating regulatory environment.
Chapter 13: Global Divides

World of Regions
• Regions are areas or part of a country or the world having a definable characteristic but not
always fixed boundaries.
• The term implies division when it comes to economical perspective.
• The origin of dividing countries arose during the Cold War era middle of twentieth (20th)
century.
• During this time, countries were primarily categorized according to their alignment between
the Russian East and the American West.
• Regionalism at this period is also characterized by this aggrupation were countries comprised
three (3) different worlds.
• In the west, the United States and its allies were labelled as First World countries like Australia,
Austria and Belgium.
• Countries in the East like the then Soviet Union, China, Russia and Poland which became the
Second World countries.
• The poor countries were eventually labelled as Third World countries like countries around Asia
and Africa.

Human Development Index (HDI)

• The yardstick for measuring poverty is the Human Development Index.
• HDI helps in defining or determining who is poor and what level is the individual poor.
• It is measured in a population’s access to facilities and services which include the following:
health, education, balanced nutrition, access to information and communication technologies,
access to justice, participation in decision making, wealth creation, etc.

North-South Divide
• The North-South divide is a socio-economic and political categorization of countries.
• Different measures are used to assess the development gaps, each one offering an effective
way of dividing up the world with regards to how developed it is.
• US can be the best example. Workers are paid in working hours which he has performed.
However, the same worker if he wishes to work in another employer, he is allowed for as long as
he can work effectively. His productivity contributed a lot not only for his immediate family but
for the US economy as well.
• If we will compare this situation in the Philippine set up, most of our graduates are
underemployed and still some are unemployed. There are no enough opportunities to find job.
• That is why the government encourages small business enterprises (SMEs) to earn and be
productive with their effort to become self-employed.
• Rich Filipinos most of the time had jobs having very small family size. In contrast, poor families
consisted of very big family size with only few having jobs.
• Educationisthebestsolutioninordertosolvethisproblem.

First World Countries: North

• The North is comprised of countries which have developed economies and account for over
ninety (90%) percent of all manufacturing industries in the world.
• These countries’ population is only one-fourth of the total global population.
• Very small yet they control eighty (80%) percent of the total income earned around the world.
• All members that originated from the North namely, France, Germany, Italy, United Kingdom,
Japan, United States, Canada, and Russia.
• This eight (G-8) are highly-industrialized nations which hold annual meeting to foster consensus
on global issues like economic growth and crises management, global security, energy, and
terrorism.
• About ninety-five (95%) percent of the population have enough basic needs and have access to
functioning education systems.
• All countries in Western Europe, Australia, New Zealand and South Korea are included.
Developing Countries: South
• The South is comprised of countries with developing economies which were initially referred to
as Third World countries during the Cold War.
• An important characteristic of countries in the South is the relatively low GDP and the high
population.
• The Third World accounts for only a fifth (5th) of the globally earned income but accounts for
over three-fourth of the global population.
• Another common characteristic of the countries in the South is the lack of basic amenities.
• As little as five (5%) percent of the population is able to access basic needs such as food and
shelter.
• The economies of most countries in the South rely on imports from the North and have low
technological penetration.
• The countries making up the South are mainly drawn from Africa, South America and Asia.
Chapter 14: Globalization

Globalization as a process
• Globalization is the process through which there is integration and interaction of countries,
companies, and people across the globe.
• the process in itself is a result of the investment, outsourced manufacturing and international
trade.
Terms to remember in Globalization
Homogeneity
- refers to the increasing sameness of the world.
Heterogeneity
- refers to the increasing differences of the world.
Solidity
- refers to the barriers that prevent or make difficult the movement of things.
Liquidity
- refers to the increasing ease of movement of people, things and information in contemporary
world.
Flows
- are the movement of people, things, and information

6 Great Era of Globalization

1. Globalization of Religion (4th to 7th centuries)
2. European Colonial Conquests (late 15th century)
3. Intra-European Wars (late 18th and 19th centuries) 4. Heyday European Wars (mid-19th
century to 1918) 5. Post-World War II Period
6. Post-Cold War Period

Dynamics of local and global culture

• Culture is defined as the customary beliefs, social forms, and material traits of a racial, religious
or social groups.
• Cultural Differentialism- emphasizes the fact that cultures are essentially different and are only
superficially affected by global flows.
• Cultural Hybridization - emphasizes the integration of local culture and global cultures.
• Glocalization - refers to global and local cultures resulting in one unique outcomes in different
geographic areas.

Main Factors that Facilitate/Caused Economic Globalization

• Improved transport
-Making global travel easier.
- There has been a rapid growth in air-travel, enabling movement of people and goods across the
globe.
• Containerization.
- From1970,therewasarapidadoptionofthesteeltransportcontainer.
- This reduced costs of inter-modal transport, making trade cheaper and more efficient.
• Improved technology
-Which makes it easier to communicate and share information around the world.
• Growth of multinational companies.
-Their presence in many different countries helps bring inclusive growth.
• Increased mobility of labor.
- People are more willing to move between different countries in search for work.
- Global trade remittances now play a large role in transfers from developed countries to
developing countries.
• Growth of global media.
- Promotes communication and helps in sharing information
• Growth of global trading-blocks
- which have reduced national barriers. Ex: European Union, NAFTA, ASEAN.
• Reduced tariff barriers
- encourage global trade.
Factors that facilitate Economic Globalization
1. International Migration
- transfer significant amounts of money through remittances to lower- income relatives.
- Communities of migrants in the destination country often provide new arrivals with information
and ideas about how to earn money.
- Movement of people also spreads technology and aspects of business culture, and moves
accumulated financial assets.
2. Multinational Corporations (MNCs)
- Corporations have outsourced in recent years.
- In business outsourcing involves the contracting out of business process.
3. International Non-Governmental Organizations (NGOs)
- include charities, non-profit advocacy groups, business associations, and cultural associations.
- International charitable activities increased after World War II and on the whole NGOs provide
more economic aid to developing countries than developed country governments.
Ex: Greenpeace
4. International governmental organizations or intergovernmental organizations (IGO)
- refers to an entity created by treaty, involving two or more nations, to work in good faith, on
issues of common interest.
- IGOs strive for peace, security and deal with economic and social questions.
Ex: the United Nations, the World Bank and on a regional level the North Atlantic Treaty
Organization (NATO) among others.