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Related Flashcards
Related Topics
Cards In This Set
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Free Trade
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Trade between countries, free from governmental restrictionsor duties.
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Free Trade Zones
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Areas where government does not interfere
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NAFTA
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Northern Atlantic Free Trade Agreement:
agreement signed by the United States, Canada and Mexico with the purpose of lowering tariff barriers over a 15-year period
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World Bank
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An international banking organization established to control the distribution of economic aid among member nations, and to make loans to them in times of financial crisis
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IMF
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International Monetary Fund: money given to underdeveloped countries in exchange of modernization
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Debt Bondage
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Similar to slavery where human beings are unable to control their lives or their work due to unpaid debts
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Neoliberalism
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Having or showing belief in the need for economic growth in addition to traditional liberalistic values, minimal government regulation
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Neo or recolonialism
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Countries become independent, but get into severe debt that they must need other countries
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SAPS
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Structural Adjustment Programs: set by World Bank finances big projects which would lead to more debt
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Privitatization
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Selling countries resources to large corporations
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Deregulation
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Process of removing constraints, especially government imposed economic regulation
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Trade Liberalization
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Reduction of tariffs and trade barriers to permit more foreign competition and foreign investment in the economy.
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