Bretton Woods Agreement, an agreement signed by the Allied countries in 1944 that established a number of financial institutions and a system of rules and regulations to promote international trade in the global economy, IMF, International Monetary Fund, Exchange Rates, the price at which one country’s currency can be purchased with another country’s currency, HIPC, Heavily Indebted Poor Country, Trade liberation, the process of reducing barriers to trade, Free Trade, trade between countries with relatively few restrictions, Trading block, a group of countries working together to give one another better trading terms, Tarrif, a tax on imported goods or services meant to reduce competition with domestic goods or services, FTA, Free Trade Agreement, Group of eight (G8), an informal group of the eight more developed countries with the strongest economies, whose leaders meet annually to discuss global issues, FTAA, Free Trade Area of the Americas, Anti-globalization, a term used to describe individuals and groups who protest against global trade agreements, which, they claim, only help more developed countries get richer at the expense of less developed countries, GATT, General Agreement on Tariffs and Trade, Subsidiary, a company that is owned and controlled by a large corporation, Euro, the name of the single European currency that went into circulation on January 1, 2002; the symbol of the euro is C, TNC, transnational corporation, GDP Per Capita, GDP divided by population, Subsidy, direct financial help, such as loans or lower taxes, that the government provides to an industry, APEC, Asia-Pacific Economic Cooperation, Containerization, a shipping method in which large amounts of goods are packaged into large containers for efficient transport and handling

Chapter 11 &12 Terms

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