project WORLDVIEW choice info copyright 2022 Home
Related Words, Beliefs, Background for Choice #51 |
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Worldview Theme #22B: Imperialism Worldview Theme #51A: Ethical Globalization for a summary read these 5 entries in order: colonialism,
imperialism--non-Marxist, cultural
imperialism, McDonaldization, for a summary read these 5 entries in order: globalization,
free trade, economic development
and underdevelopment, |
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American exceptionalism–the belief held by many Americans and repeatedly promoted by its leaders, that the USA is a special nation–superior to others because of its unique heritage. Many Americans have historically added a religious dimension to this: "It is our manifest destiny," "God is on our side," "We are God's shining city on a hill," etc. With this belief comes what some see as a duty: to serve as an example or beacon for other nations to follow. Others see it (sometimes arrogantly) as a right. As Howard Zinn describes it, the latter believe that "the United States alone has the right, whether by divine sanction or moral obligation, to bring civilization, or democracy, or liberty to the rest of the world, by violence if necessary." anti-corporate
movement--beginning
over a century ago, this movement spurted during the 1960s / 70s,
slackened, then caught fire in the last two decades--driven by concerns
over globalization,. In his
2007 book, The Rise of the Anti-Corporate Movement, Evan Osborne
referred to it as "increasingly influential in politics in the
United States and Europe". Believing
that multi-national corporations aim to control the world and maximize
their profits in doing so, anti-corporate activists seek to rein in
corporate power--although they differ in their prescriptions for doing
this. Some defenders of these engines for economic growth, jobs,
technological innovations, etc. charge that some critics are naive and
caught up in anti-corporate conspiracism. Osborne
is troubled by how "activists ignore the idea that politics is a
messy compromise among all sides and slide into the belief in one
all-powerful faction pulling the strings." In critiquing such books
as the 2001 bestseller When Corporations Rule the World, by David
Korten, he disputes the notion that corporate power is "a coherent
sinister force. " basic
human needs approach--a
strategy which directs development assistance to the poorest people in
an effort to meet their needs for food, clean water, shelter, clothing,
health care and education. bellicose--quarrelsome, aggressive, warlike biopiracy–ripping off natural resources or traditional knowledge from indigenous people. capitalism -- an economic system involving 1) private individual or corporate ownership of capital goods, 2) private rather than state control of investment , and 3) pricing, production and distribution of goods (for the most part) by agents or forces operating within the free market system. child labor--the use of under aged children for work in factories, mines, farms, armies, as prostitutes, etc. According to the UN Convention on the Rights of the Child, children should be "protected from economic exploitation and from performing any work that is likely to be hazardous or to interfere with the child's education, or to be harmful to the child's health or physical, mental, spiritual, moral or social development." China’s Belt and Road Initiative—a global infrastructure development / foreign policy project launched by the Chinese government in 2013. Expected to last several decades, it promises Chinese investment in over 70 countries in an effort to enhance regional connectivity. China anticipates it will lead to “a brighter future” for countries involved; critics fear its imperialistic reach and possible military aspects. colonialism--the policy or practice of a nation extending or maintaining its control over a foreign land or people. This control is typically enforced militarily, and often results in the economic and / or cultural domination of the subject people. Such practice, rooted in ethnocentrism and sometimes racism, is one form that imperialism takes. common
good, the--can
be defined in various ways depending on one's perspective. Some define
it narrowly as that which is good
for every member of the community; others broaden the community here to
include all human beings. While libertarians argue it is a meaningless
concept, utilitarians equate it with "the
greatest good for the greatest number
of individuals." comparative advantage -- according to this, a nation should produce and export goods that it can produce at relatively lower costs than other nations conflict of interest—professional ethics related term. Writing in 1993 in The New England Journal of Medicine, Dennis F. Thompson defined it as, “a set of conditions in which professional judgment concerning a primary interest (such as a patient’s welfare or the validity of research) tends to be unduly influenced by a secondary interest (such an financial gain).” He goes on to identify the need for professional ethics guidelines that “regulate the disclosure and avoidance of these conditions.” corporate state -- a term used by those who believe that government and large corporations are run by the same people and are so intermeshed that corporate goals and policy and government goals and policy are essentially the same. corporate welfare--refers to government support--what critics might call "handouts"--provided to private corporations in the form of subsidies, tax breaks / credits, and laws / benefits / exemptions by which private sector businesses in some way use the public sector (taxpayer dollars, public land, etc.) to their advantage. cultural imperialism--the rapid spread of one culture to the detriment of another. Often a politically / economically dominant culture is imposed by newcomers--weakening or destroying the existing culture. customs--the whole body of long-established usages, practices, traditions, rituals, and ways of behaving that have been passed on from one generation to the next. As unwritten laws they can regulate social life. Sometimes they are turned into laws. distributive justice--is concerned with right or just ways to allocate the goods, benefits and burdens of economic activity to members of society. Plans for doing this vary according to 1) what is to be distributed: wealth, income, utility, opportunity, welfare, etc; 2) over what group is the distribution to be made; 3) how is the distribution to be made. economic development and underdevelopment -- the former is process of improving the quality of human life, especially in poor countries. Besides targeting raising people’s standard of living, increasing their freedom (in terms of choices available to them) and creating conditions allowing for the growth of their self esteem are major development goals. Such work seeks to combat underdevelopment---a socioeconomic situation in which people’s standard of living, freedom (in terms of choices available to them) self esteem and hope for the future is seriously and persistently depressed. environmental impact analysis -- a procedure for 1) collecting information about the proposed development, project or land use and its goals / objectives, 2) identifying possible impacts of its implementation in various areas (mainly environmental, but depending upon the scale of the project also perhaps cultural, economic, social, political, etc), 3) assessing impacts and identifying tradeoffs, 4) formulating, then examining other alternatives to the proposed development, with quantitative models and forecasts, 5) making recommendations including designating a preferred alternative that best meets goals / objectives while minimizing impacts / other concerns , and 6) making plans for monitoring performance. Legislation may require that this be done before certain projects can be carried out on government land. environmental racism–a majority uses it power to make policies that disproportionately subject minorities to pollution / environmental hazards ethical behavior evolutionary pyramid -- the depiction of how human ethical behavior has evolved over a long period of time (over one million years) using a pyramid. When people were little more than animals their behavior was dictated by self interest in meeting basic biological and survival needs -- depicted at the broad base of the pyramid. Amongst pre-civilization humans ethical behavior extended to include family and biological relatives. As culture developed and survival pressures eased, ethical behavior was extended greatly-- moving up the pyramid -- to eventually include community, tribe, regional neighbors, ethnic group, and nation. Today, at the top of the pyramid are those who feel a sense of belongingness to the whole human species and to the planet , and behave accordingly. ethical (or moral) relativism -- the belief that ethical guidelines or moral rules cannot be evaluated outside of the particular cultural / ethical setting to which they belong. It holds that there are no absolute or universal standards of what is ethically or morally right or wrong. Fundamentalists abhor ethical relativism. For them, the word of God as recorded in sacred religious texts provides not only rules to live by, but an absolute authority on moral questions. ethics–the study of right and wrong in matters of conduct. A basic division is between metaethics and normative ethics. A goal of metaethics is understanding gained by considering questions like “What is the meaning and nature of moral judgments?” and “How are they defended and supported?” and “ In what way or ways are they actually used? A goal of normative ethics involves identifying universal rules (or norms) to guide human behavior with respect to the key question, “How should one act or behave?” Normative ethics can be broken up into (most notably), consequentialist ethics, deontological ethics, utilitarianism, and egoism. ethnocentrism -- adopting the social standards of one’s own culture or ethnic group as the basis for evaluating the social practices, customs, beliefs, etc. of another culture -- and doing so because you believe your society’s values and way of living are superior to those of other cultures. Food and Agriculture Organization (FAO)--a United Nations agency that works with developing countries in an effort to 1) raise levels of nutrition and standards of living, 2) improve production and distribution of food and agricultural products, and 3) promote rural development. One FAO program--The Special Programme for Food Security--seeks to cut the number of the world's hunger (food insecure) people (currently estimated to number 852 million) in half by 2015. free trade -- exists when goods can be exported and imported without tariffs, quotas or other restrictive barriers. Supposedly free trade promotes economic growth by encouraging nations to engage in economic activities in which they have comparative advantage. (See that entry.) The opposite of a pro-free trade policy would be one in which a nation engages in protectionism (see that entry.) global competitiveness index--a measure of how well a nation's economy is positioned with respect to its own economic efficiency / productivity and its ability to attract foreign investment / company infrastructure. Typically based on over hundred different factors, the index is computed annually for over hundred countries by the World Economic Forum after surveying thousands of business executives worldwide. global ethic, declaration of–the following is from the Chicago based 1993 Parliament of the World's Religions. Declaration of a Global Ethic: “We are interdependent. Each of us depends on the well-being of the whole, and so we have respect for the community of living beings...Opening our hearts to one another, we must sink our narrow differences for the cause of world community, practicing a culture of solidarity and relatedness. We consider humankind a family... Earth cannot be changed for the better unless the consciousness of individuals is changed first... Therefore we commit ourselves to this global ethic, to understanding one another, and to socially beneficial, peace-fostering, and nature-friendly ways of life.” globalization -- one of those terms that means different things to different people. Here the term is defined as the acceleration of interaction and integration amongst the people, businesses and governments of nations. A narrower definition, the expansion of foreign trade and investment, refers to economic aspects of globalization. Some build their conception of globalization around the creation of a global village brought about by advances in communications technology and capital that seemingly moves without respect for international boundaries. Others link it to hot button terms like Americanization, corporate capitalism, McDonaldization, free trade, outsourcing, sweatshops, the Internet Revolution, etc. hegemony--domination of one individual, group, or nation over another human capital -- investment made in people, including improving their productive capabilities and health due to investments in job training, education or medical care
human rights--are defined by the American Heritage Dictionary as "the
basic rights and freedoms to which all humans are entitled, often held
to include the right to life and liberty, freedom of thought and
expression, and equality before the law." Some equate human rights
with natural rights--notably expounded upon by English philosopher John
Locke whose thinking inspired the American founding fathers. These
rights are said to be "inalienable" and beyond the authority
of government or society to trample. The outrageous human rights
violations of the World War II era are often cited as inspiring the
founding of the United Nations in 1945.
In its charter, the UN asks all member nations to promote
"universal respect for, and observance of, human rights." immigration issues -- Relatively high
paying jobs in developed countries attract workers from less developed
countries. So workers migrate -- both legally and illegally. In recent
years, many of those who migrate legally are highly educated and skilled
-- the very workers that poor countries can ill afford to lose. imperialism, non-Marxist --the belief that governments or corporations extending their power and influence over people (either economically, culturally or both) is fundamentally good. The belief may rest on the assumption that, given the economic / cultural backwardness of the people affected, such domination will bring positive developments for all. This way of thinking about imperialism attempts to free it of the negative connotations / baggage heaped on the term by Marxist criticisms of the failings of capitalism. indigenous people--in 2004 the United Nations provided the following definition: "Indigenous communities, peoples and nations are those which, having a historical continuity with pre-invasion and pre-colonial societies that developed on their territories, consider themselves distinct from other sectors of the societies now prevailing on those territories, or parts of them. They form at present non-dominant sectors of society and are determined to preserve, develop and transmit to future generations their ancestral territories, and their ethnic identity, as the basis of their continued existence as peoples, in accordance with their own cultural patterns, social institutions and legal system." By 2020, the World Bank estimated there were 476 million indigenous people worldwide in over 90 countries. institution--an establishment with a social purpose, which, besides customs and tradition, guide interactions between people. While agreements and rules typically structure social institutions, sociology itself can be defined in terms of institutions. Political institutions promulgate rules known as laws; economic institutions are based on rules related to the concept of money. International Monetary Fund (IMF)-- an organization founded in 1944 whose primary purpose is to provide regulation of the international monetary exchange system intervention philosophy--the rationale or ideological justification guiding imperialistic conquest, colonialism, or missionary activity. jingoist--one who practices a bellicose, territorial seeking, chauvinistic foreign policy justice -- implementing what is just, defined in various ways as being reasonable, proper, lawful, right, fair, deserved, merited, etc. For some, justice is intimately connected with fairness, a connection with three dimensions: equal treatment, the degree to which exercising freedom and liberty is to be allowed, and reward for contributing to the common good . Marxism–a 19th century dispassionate analysis of the inherent flaws in a pure capitalist economic system which later served as the basis for 20th century socialist and communist states. The analysis considers an economic struggle between capitalist owners and workers, identifies the origin of the capitalist’s profit in the form of "surplus value" created by worker labor that is not paid for, models business cycles of boom and bust (falling profits, layoffs, crash), with small businesses absorbed by the growth of larger firms. According to Robert Heilbroner, "...the Marxist model of how capitalism worked was extraordinarily prophetic". Marx felt that capitalism was inherently unstable and that it would be socially impossible for governments in such societies to right wrongs–for that would require the powerful upper class to act in something other than its own economic self interest. He felt that eventually capitalism would be replaced by a classless society in which production would become centralized in the machinery of the state–which itself might eventually "wither away." Modern economic history–in particular Western economies building social justice into their systems, moving away from pure capitalism and toward social welfare states–suggests that Marx failed to appreciate the social adaptability of capitalism. |
master -- a derogatory term that refers to an individual or group -- historically often associated with a man or men -- who dominates and controls another person or group of people, and to some extent exercises authority that keeps those subject to it in a submissive state of servitude. McDonaldization -- refers to the spread of American economic and cultural life around the world as multinational corporations (as exemplified by McDonald's) expand their operations in the quest for profits. micro-credit--the offering of very small loans of money to very poor people who otherwise would not qualify due to lack of collateral, steady job, or credit history. The loans are typically made to boost income generating economic endeavors, and surprisingly have been repaid with very low history of nonpayment. The Grameen Bank in Bangladesh pioneered this type of lending in 1983. At the 1997 Micro-credit Summit, Hillary Clinton remarked, "[Micro-credit] is not just about giving individuals economic opportunity. It is about responsibility. It is about seeing how we are all interconnected and interdependent in today's world...It is understanding how lifting people out of poverty in India or Bangladesh rebounds to the benefit of the entire community and creates fertile ground for democracy..." Grameen Bank founder and Nobel Laureate Muhammad Yunus said, "This summit is to celebrate the success of millions...who have transformed their lives from extreme poverty to dignified self sufficiency through...micro-credit." militarism– generally thought of as 1) belief that a people or government that the nation should maintain a strong military and not hesitate to use it to further its national goals, 2) glorification of the military, including its rituals, values, etc. This has historically been an important part of colonialism / territorial expansionist policies. monopoly -- a situation in a market economy when but a single seller exists for a commodity that has no realistic substitute moral hazard–results when a person, institution, or large group of people is partly shielded from risk (due to insurance, prospects of government bailout, safety features, etc.) and acts differently (is less careful creating a hazard.) Examples: 1) drivers with airbags drive more recklessly, confident that if they crash the airbags will protect them; 2) a person wearing a face mask mingles more closely and more often with people during a pandemic like corona virus than he or she would without the face mask; 3) an investor buys non-investment grade (junk) corporate bonds because of the perception that the company is “too big to fail” and the government will come to the rescue, if need be, to prevent that from happening nationalist -- a person exhibiting extreme loyalty and devotion to a particular nation, who places its interests above interests of other nations. network--a structure of interconnecting entities—which can be physical parts, people, concepts, etc. non-aggression principle--the idea, as expressed by Ayn Rand, that coercive physical force or the threat of such use against person or property should never be used first, and that its only legitimate use is for defensive purposes by individuals or by governments to punish law-breakers. North American Free Trade Agreement (NAFTA) / USMCA–an agreement between the USA, Canada, and Mexico reached in 1993 and revised in 2020 that generally liberalizes trade policies in an effort to increase competitiveness and wealth. offshoring–involves a company moving its factory from a high wage affluent country to a low wage developing country—producing the same products with cheaper labor, lower taxes, less regulation, etc. outsourcing -- the business practice of contracting with labor, producers or suppliers in another country to provide some product or service that otherwise could be provided (though most likely at higher cost) by the own country's economy. pandemic—worldwide epidemic of infectious disease paternalism -- a system in which adults are treated in a fatherly way like children, with their conduct regulated and their needs met. Typically in exchange for this care, the authority expects loyalty and that those receiving the care will accept their relinquishing of personal control. population and family planning--refers to efforts to limit the number of children in a family. The goal of such planning is to insure that all children born 1) are truly wanted, and 2) can be adequately supported and raised to adulthood given the resources available. While implemented at the individual family level, policies can be formulated at the national government level. This has most notably occurred in China, where the "One Child Policy" was adopted in 1979 to address population growth concerns. Family planning services typically focus on promoting and providing access to birth control devices (contraceptive pills, condoms, etc). Where those fail, counseling as to whether to use an abortion clinic's services may be provided. More draconian options include forced sterilization--which has been used in the United States to prevent mentally deficient people from reproducing.population growth concerns–reportedly since the days of the Babylonians in 1600 BCE–when the human population was thirty-five million–people have worried about the possibility of a growing population exceeding the capability to feed it. Typically the former grows exponentially (1, 2, 4, 8, etc) while the latter increases but arithmetically (1,2,3,4, etc)–as Thomas Malthus pointed out in 1798. A few years later in 1804 the human population reached one billion; by 1927 it had doubled to two billion. The doubling time of 123 years is consistent with an average annual growth rate of around 0.6 % per year. The next doubling to four billion took roughly 47 years, consistent with an average annual growth rate of around 1.5 % per year. The growth rate peaked around 1970 at 2.1 % per year. By 2020 it had fallen to 1.1 % per year, and the human population stood at 7.7 billion people. UN Population Division projections suggest that by 2100 there will be 11.2 billion people. How many people can the planet support? Answers vary. Many environmentalists feel that the current population is excessive and that human activities are altering the global climate and causing dangerous disruptions of natural cycles. Currently enough grain is grown to feed ten billion people a vegetarian diet. propaganda -- broadly speaking, information that is designed and disseminated as part of a concerted effort to influence what individuals believe or want, and manipulate public opinion and desires. protectionism -- an economic policy in which a nation restricts imports, imposes tariffs, adopts restrictive quotas or laws, subsidizes its own producers to enable them to more effectively compete, or takes other steps to protect what it deems to be its own economic interests purchasing power parity -- a scheme by what a nation’s currency is adjusted so that, in comparing it to another currency, they will purchase the same amount of goods and services. racism -- a negative attitude toward members of a particular race based on stereotypes and belief in the inferior nature of members of that race in comparison to other human beings (and in racial superiority of some races over others in general) redistribution of wealth—the transfer of wealth from the rich to the poor, typically through government taxation policy, in an effort to benefit the disadvantaged and reduce the income gap between the “haves” and “have nots.” Funding welfare assistance programs would be one way that governments could use this money. The international version of this would transfer wealth from rich nations to poor nations. Affluent countries forgiving poor nations’ debts is a starting point for accomplishing this. refugee-- a person who has crossed national boundaries and fled his or her home, typically due to conflict, disaster or otherwise unsafe conditions, and is living elsewhere—often in refugee camps. By 2020 the number of such displaced people worldwide was greater than at any time since World War II—approaching 30 million. socialism, market in China—In the decades following its establishment in 1949 as a socialist state controlled by a single (communist CCP party), the Chinese economy generally sputtered. Notably mass famine beginning in 1958 was followed (critics say purposely to distract attention) by the upheaval of a decade of the cultural evolution. While changes were made in the late 1970s, nonetheless by 1991 China's central planners knew their economy needed still more help. Thus the “socialist market economy” was instigated. In the words of a 1993 CCP document, "even if State property remains the main base of the national economy, all forms of property – State, collective and private – will have to be used in developing the economy...it is necessary to keep to the principle of combined development of multiple economic sectors in which public property maintains the dominant role; it is necessary to further transform managerial techniques in the state owned enterprises and set up a modern entrepreneurial system." Measured in terms of economic growth, the plan—aided by opening the economy to some Western investment and becoming more of a player on the globalization stage-- worked. Today the Chinese government celebrates—and Western historians acknowledge--that the four decades of economic growth that began around 1979 lifted more people out of poverty than anything else in human history ever has. social justice—refers to 1) a relationship between individuals and society in which people have what is just, defined in various ways as being reasonable, proper, lawful, right, fair, deserved, merited, etc; 2) if the condition described above does not exist, then taking steps to make it so. In practice, in affluent Western societies, seeking social justice is concerned with seeking a fairer distribution of wealth and privilege, equal opportunity for all, ending unfair discrimination or exclusion, and providing a safety net for the especially vulnerable. It can also involve recognizing / rewarding those who contribute to the common good more than those who behave in more self-serving fashion. small is beautiful–a philosophy popularized by E.F. Schumacher in the early 1970s, who was inspired by Gandhi. A philosophy of enoughness --appreciating both human needs and limitations, and appropriate use of technology--that grew out of Schumacher’s study of village based economics and economic thinking later termed "Buddhist Economics." In this regard he faults conventional economic thinking for failing to consider the most appropriate scale for an activity, and blasts “growth is good" and "bigger is better" notions. He similarly questions the appropriateness of using mass production in developing countries, promoting instead "production by the masses." One of the first to question using GNP to measure human well being, he argued "the aim ought to be to obtain the maximum amount of well being with the minimum amount of consumption." subsidy -- a government payment to producers or distributors in an industry that policy makers deem needs help. The subsidy can have the effect of the industry increasing prices, hiring more labor, exporting more products, expanding, etc. sustainable development -- a type of development that hopefully allows future generations’ standard of living and quality of life to be at least as good as the present generation. sweatshops -- manufacturing operations (typically of garments, shoes, etc) in poor countries in which workers are paid very low wages, work long hours, and toil under very poor conditions (perhaps in unsafe environments, laboring without respect from management, being exploited, etc.) Critics charge that the low prices affluent Western consumers expect are made possible by the sweat and misery of the world's poor. tariff -- a tax on imports levied at the point of entry based on the value of the commodity trade, balance of--the relative comparison between the monetary value of a nation's exports vs. its imports. U.S. exports and imports were last roughly equal in 1991. Since then a trade deficit--which in 2006 reached $764 billion / year has developed. United Nations -- an organization of over 180 member nations founded in 1945 to promote human rights, international peace and co-operation. utilitarianism–the belief that the moral value of actions and associated outcomes should be judged according to the degree to which they are useful and benefit those affected. Utilitarians evaluate the moral rightness of actions by the extent to which they produce the greatest benefit to all concerned. Utilitarianism has two aspects: 1) it links evaluating consequences of actions to human welfare, and accordingly, 2) how it ranks values (value theory) and ties them to human welfare. The latter involves all the complexities of arguments over what gives individuals pleasure or happiness, conflicts between individual choice and societal preference, what benefits society in the long run, etc. And it recognizes that assigning value is not merely done by adding benefits, since what is beneficial to some may be detrimental to others, and both the benefits and risks of possible actions must be weighed. war & ethnocentrism -- According to E. O. Wilson, “War can be defined as the violent rupture of the intricate and powerful fabric of territorial taboos observed by social groups. The force behind most warlike policies is ethnocentrism...” workers' rights--legal rights under relevant (labor) law and human rights, as in the UN Declaration of Human Rights articles 23 & 24, that govern workplace conditions, conditions / benefits of employment, and relations between workers and management. Important rights here include the right to safe working conditions, right to join labor unions, expectation of fair compensation, and freedom from discrimination. The International Labour Organization is the UN agency concerned with promoting decent working conditions. World Bank -- an international financial institution of over 180 member nations whose purpose is to promote development in poor countries by providing loans and technical assistance. Beginning at the end of World War II as the International Bank for Reconstruction and Development (IBRD), in 1960 it was expanded with the creation of the International Development Association (IDA). Today, the IBRD and the IDA together constitute the World Bank.
world
government--for
some this means that all people would live under the political authority
of a single, centralized unified government. National boundaries and
national sovereignty would no longer exist. For others it refers to a
political body that would limit its scope to making, interpreting, and
enforcing international law. Albert Einstein supported the former; some
argue that, with the United Nations, International Criminal Court, and
other international organizations, we already have the beginnings of the
latter. The so-called
"New World Order" refers to a particular world government that
some conspiracy theorists claim will be ushered in when the hidden
agenda of a powerful and secretive few is carried out. World Health Organization (WHO)–a specialized agency within the United Nations founded in 1948 and administered from Geneva seeking “the attainment by all peoples of the highest possible level of health” Besides promoting human health and well-being, it advocates for universal health care, monitors public health risks, co-ordinates responses to public health emergencies including pandemics. world’s hungry and extreme poor— The World Health Organization put the number of people worldwide in 2018 who did not have enough to eat at 820 million. World Bank estimates of those living on the equivalent of less than $1.90 per day put the number of such people worldwide in 2015 at 734 million, or roughly 10% of the human population. That number is down from 1.9 billion in 1990. However, with the coronavirus outbreak of 2020, the number is expected to rise substantially World Trade Organization (WTO) -- an international organization founded in 1995 to promote more international free trade, and regulate / resolve disputes involving international trade of goods and services. It replaced the General Agreement on Tariffs and Trade (GATT), an international body founded in 1947. |