History

Belt and Road Initiative

A Chinese infrastructure and trade project aimed at connecting Asia, Africa, and Europe.

Bracero Program

A U.S.-Mexico labor agreement (1942-1964) allowing Mexican workers to fill agricultural jobs in the U.S.

Glocalization

The adaptation of global products or ideas to fit local cultures and markets.

De-coupling

The idea that emerging markets can grow independently of developed economies.

1965 (US) Immigration Act

Ended quotas based on nationality and prioritized family reunification and skilled immigrants.

Import Substitution Policy

A strategy to reduce imports by promoting domestic industries.

Bretton Woods

A post-WWII system establishing the IMF, World Bank, and pegged currencies to the U.S. dollar.

Real vs. Nominal Interest Rates

Real: Adjusted for inflation. Nominal: Not adjusted.

Portfolio vs. Foreign Direct Investment

Portfolio: Passive investments in securities. FDI: Active investments in foreign businesses.

Mutually Assured Destruction (MAD)

Cold War doctrine where nuclear powers deterred conflict through guaranteed retaliation.

NATO

A Western military alliance founded in 1949.

IMF

International Monetary Fund: Provides financial support to stabilize economies.

Autarky

Economic self-sufficiency, avoiding reliance on international trade.

Nollywood

Nigeria's film industry, one of the largest globally.

Mao Zedong

Leader of Communist China (1949-1976).

League of Nations

An intergovernmental organization founded after WWI to promote peace.

GATT

General Agreement on Tariffs and Trade: Established rules for international trade in 1947.

Telenovela

Serialized television dramas, popular in Latin America.

Reserve Currency

A currency held by central banks for global trade and stability (e.g., U.S. dollar).

NAFTA

North American Free Trade Agreement: Trade pact between the U.S., Canada, and Mexico (1994).