Key Concepts Globalizing World

Developing countries exported agricultural products and raw materials to advanced countries, in exchange for manufactured goods 

 The possibility that the possession by developing countries of natural resources, in particular petroleum, is more likely to hinder rather than to advance the development prospects of those countries (e.g. Nigeria and Singapore) 

1) Higher income for people in the oil sector ➡️ leads to higher salary  throughout the economy ➡️ it reduces the competitiveness of the countries manufacturing industry 
2) Resources of this country ➡️ leads to higher demand for and price of the countries currency ➡️ reduces competitiveness of countries domestic industries 

When an actor (developing country) believes that they can take very great risks because, if things go badly, someone else (IMF) will pay for the consequences of the risky behaviour 
- criticism of IMF´s lending policy to developing countries (moral hazard) 

When a country is so poor that its natural resources must be used to satisfy the immediate day-to-day needs of the population with insufficient resources left for savings or investment, such as better railways and roads for commerce, to propel the country toward higher incomes tomorrow. Example: many sub-Saharan African countries  (Jeffery Sachs) 

How liberal institutionalism can fail because of free-rider problem:
The benefits generated by cooperation are often non-excludable: anyone will benefit from broad-based cooperation even if they themselves do not cooperate 

A state tries to increase its security through many ways: these ways decrease the security of others 

Perceived threats of hegemony over the international political system generate balancing behaviour by other leading states in the system 
1) Internal balancing: build military and economic capabilities
2) external balancing: form alliances 

In contrast with “ old wars” 
5 hypothesis of new wars (erosion of the state monopoly of force;  political economy of wars; new wars as asymmetric; new wars as identity based; terrorism within the framework of new wars) 

It observes that organisations that share the same environment will, over time, come to resemble each other 

A school of thought that argues that international economic linkages hinder development in developing countries (e.g. based on colonial theory) 

By Wallerstein: The advanced industrial countries at the core of the world economy dictated how developing countries in the periphery would evolve, and might put constraints on their developmental trajectory 

An element of Pre-WW1 liberal institutionalism:
In pursuing his own interest, the individual pursues that of the community, and in promoting the interest of the community he promotes his own 
➡️ WW1 proved it is flawed 

America as the “indispensable nation” that could use force without asking for permission to maintain its position as a global leader 

The LoN constitution also called for the self-determination of Nations 
➡️ the process by which a group of people, usually possessing a certain degree of national consciousness, form their own state and choose their own government  

It occurs when a claimant´s opponents have been talked into a corner, compelled to endorse a stance, they would otherwise reject

Russia is a revisionist state bent on overturning the post-cold war order in Europe (Russia ´s bid for regional primacy is part an parcel of its ambitions) 

Russia has adopted a more assertive posture in recent years to counterbalance the encroachments of Western influence 

The ruling elite in Kremlin stirs up trouble abroad to maintain control at home

There are two grounds on which international institutions (like UN)  ground their legitimacy:
1) Good performance 
2) Fair procedures