Level 69
Level 70

Industrialization & Economic Development

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Capitalist World Economy
A global economic system that is based on high-income nations with market economies.
Self-Sufficiency Model
Economic model that encourages LDC's to isolate struggling businesses from the competition of large international corporations.
export-oriented industrialization
A set of policies, originally pursued starting in the late 1960s by several East Asian countries, to spur manufacturing for export, often through subsidies and incentives for export production.
World Trade Organization
An international institution for the negotiated liberalization of world trade. It replaced the GATT in 1994.
World Bank
A specialized agency of the united nations, to assist European postwar recovery the initial role was absorbed by the marshal law plan. the focus then shifted (1949) to loans & technical assistance.
International Monetary Fund (IMF)
A multinational organization established in 1944 by the Bretton Woods agreement to administer a system of fixed exchange rates and to serve as a lender of last resort to countries undergoing balance-of-payments problems.
Four Asian Dragons (Tigers)
Hong Kong, South Korea, Taiwan & Singapore. Their economies began to boom in the 1960's as they followed the export-oriented industrialization economic model.
Fair Trade
Commerce in which products are made and traded according to standards that protect workers and small businesses in developing countries.
Provision of small loans and other financial services to individuals and small businesses in developing countries that are unable to obtain loans from commercial banks.
Millennium Development Goals
eight international development goals that all members of the united Nations have agreed to achieve by 2015.
Features of the Roman Empire
Structural Adjustment Program
Economic policies imposed on less developed countries by international agencies to create conditions encouraging international trade, such as raising taxes, reducing government spending, controlling inflation, privatizing utilities, and charging citizens more for services.
Level 71