20 terms

1-20 Chapter 10 Vocabulary Words yey

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Asian Tigers
are the highly developed economies of Hong Kong, Singapore, South Korea and Taiwan. These regions were the first newly industrialized countries.
BRICS countries
a select group of developing countries (Brazil, Russia, India, China and South Africa) that are believed to have promising emerging markets and economies. Together these countries make up 40% of the world's population and were forecasted by Goldman Sachs in 2001 to become leaders of global growth, output and development by 2050.
Colonialism
the policy or practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically.
Commodity chain
series of links connecting the many places of production and distribution resulting in a product that is then exchanged on the world market.
Context
the geographical situation in which something occurs, the combination of what is happening at a variety of scales concurrently.
Core country
have high levels of development, a capacity at innovation and a convergence of trade flows.
Dependency theory
a structuralist concept that offers a critique of the modernization model of development. Based on the idea that certain types of political and economic relations (especially colonialism) between countries and regions of the world have created arrangements that both control and limit the extent to which regions can develop.
Desertification
the encroachment of the desert conditions in moister zones along the desert margins, where plant cover and soils are threatened by overuse, in part by humans and their domestic animals, and, possibly in part because of inexorable shifts in Earth's environmental zones.
Developing
with respect to a country, making progress in technology, production, and socioeconomic welfare
Dollarization
when a poorer country ties the value of its currency to that of a wealthier country, or when it abandons its currency and adopts the wealthier country's currency as its own.
Drive to Maturity Stage
refers to the need for the economy itself to diversify. The sectors of the economy which lead initially begin to level off, while other sectors begin to take off. This diversity leads to greatly reduced rates of poverty and rising standards of living, as the society no longer needs to sacrifice its comfort in order to strengthen certain sectors.
Export processing zones
established by many countries in the periphery and semi-periphery where they offer favorable tax, regulator, and trade arrangements to attract foreign trade and investments.
Fair Trade
a movement whose goal is to help producers in developing countries to get a fair price for their products so as to reduce poverty, provide for the ethical treatment of workers and farmers, and promote environmentally sustainable practices.
Foreign Direct Investment (FDI)
made by a company or individual in one country in business interests in another country, in the form of either establishing business operations or acquiring business assets in the other country, such as ownership or controlling interest in a foreign company.
Formal economy
the legal economy that is taxed and monitored by a government and is included in a government's Gross National Product.
GDP Per Capita
the total value of all the goods and services produced by a country in a particular year, divided by the number of people living there.
Gender Empowerment Measure
is a measure of inequalities between men's and women's opportunities in a country. It combines inequalities in three areas: political participation and decision making, economic participation and decision making, and power over economic resources.
Gross Domestic Product (GDP)
the total value of all goods and services produced within a country during a given year.
Gross National Income (GNI)
calculates the monetary worth of what is produced within a country plus its income received from investments outside country.
Gross National Product (GNP)
the total value of all goods and services produced by a country's economy in a given year. It includes all goods and services produced by corporations and individuals of a country, whether or not they are located within the country.