IB Global Politics Examining Unequal Power Structures Key Definitions

Refers to countries with lower levels of economic and industrial development, typically found south of more developed nations.

Power asymmetry refers to a situation where power, resources, or influence are distributed unequally between actors, giving one side a significant advantage over the other. This imbalance can shape relationships, negotiations, and conflicts. For example, developed countries dominating trade rules over developing countries, employers holding more bargaining power than workers, or a majority group controlling political institutions over minorities are all cases of power asymmetry.

The hypothesis that the terms of trade for primary commodity exporters deteriorate over the long run relative to exporters of manufactured goods, concentrating growth in industrialised economies.

A set of economic policy conditions attached to IMF or World Bank loans, typically requiring liberalisation, privatisation, and austerity in exchange for access to credit.