Disparities in wealth

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Terms in this set (...)

Trading Bloc
A group of countries who have joined together to promote trade. This might be through relaxing protectionist barriers or even having a common currency
Protectionism
Attempts to protect domestic markets by making foreign goods less competitive. This is most commonly done through tariffs and and quotas placed on foreign goods and subsidies given to domestic goods.
FDI
Foreign direct investment is money invested in a foreign country by TNCs or other countries.
What are the advantages of remittances?
Reduces unemployment.
Reduces pressure on schools and hospitals.
Reduces pressure on infrastructure.
Remittances go directly to friends and family so enter economy at local level.
Migrants can return with new skills.
Improved relations with countries.