Related Entries of the International Encyclopedia:

1. Competitive Competitive and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitive: As applied to internationally traded goods, refers to a country's or a firm's products being preferred by a significant [...]...
2. Comparative Advantage Revealed Comparative Advantage and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Revealed Comparative Advantage: A measure of relative competitive performance of a country's exporters of a particular [...]...
3. Export Trading Company Export Trading Company and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Export Trading Company: (Also known as an export management company.) A private firm that provides related-related services to other [...]...
4. Tying Contract Tying Contract and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Tying Contract: (Also known as a tie-in contract or bundling.) A restraint of trade ~ arrangement by which a product can be purchased only [...]...
5. Futures Contract Futures Contract and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Futures Contract: A contract for goods, foreign exchange, or financial assets to be delivered at a certain future date on terms and at [...]...
6. C.I.F. C.I.F. and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of C.I.F.: An abbreviation (for "costs, insurance, and freight") used in international trade statistics and sales contracts. Transactions on [...]...
7. F.O.B. F.O.B. and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of F.O.B.: An abbreviation (for "free on board") used in international trade statistics and sales contracts; a method of valuing traded goods [...]...
8. Absolute Advantage Absolute Advantage and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Absolute Advantage: The ability of a country to supply a particular product or class of goods at lower costs than competing nations. See [...]...
9. Price Discrimination Price Discrimination and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Price Discrimination: The practice of charging unequal prices to different buyers of products that are essentially identical, when such [...]...
10. Vertical Restraints Vertical Restraints and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Vertical Restraints: Anticompetitive restraint of trade arrangements imposed by a firm at one stage in a chain of transactions --usually [...]...
11. International Trade Patterns Ricardian Model and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Ricardian Model: A theory for explaining international trade patterns in terms of technological differences among countries and resulting [...]...
12. Forfeiting Forfeiting and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Forfeiting: A means of financing foreign trade based upon the transfer of debt obligations arising from the sale of goods and services, usually exports....
13. Deindustrialization Deindustrialization and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Deindustrialization: A term denoting a negative impact of international competition on the overall size of a country's manufacturing [...]...
14. Differentiation Differentiation and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Differentiation: A key element in firms' competitive advantage. Refers to market conditions in which a product can vary in some [...]...
15. Competitive Performance Competitive Performance and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitive Performance: The measurable results of competitiveness --i.e., the outcome of a country's or a firm's efforts in [...]...
16. Textiles Textiles and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Textiles: Historically, one of t e most politically sensitive and contentious sectors of international trade. As define in the Multifiber [...]...
17. Technology Driver Technology Driver and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Technology Driver: A product with a relatively simple design which a manufacturer may produce in high volume in order to hone its skills [...]...
18. Economic Rent Economic Rent and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economic Rent: The gain to a producer or resource owner resulting from a trade barrier or other restriction of supply that leads to a higher [...]...
19. Economic Vulnerability Economic Vulnerability and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economic Vulnerability: In the context of trade relations, the proportion of a country's GNP accounted for by exports and imports [...]...
20. Fair Trade Fair Trade and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Fair Trade: International trade involving shipments that do not benefit from government assistance. Fair trade --and the related concept of unfair [...]...
21. Economic Profit Economic Profit and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economic Profit: The amount by which a producer's income exceeds total operating costs, including the cost of capital provided by the [...]...
22. Arm's Length Pricing Arm's Length Pricing and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Arm's Length Pricing: The price at which a particular product or service would sell in a transaction between unrelated buyers [...]...
23. Restrictive Business Practices Restrictive Business Practices and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Restrictive Business Practices: Actions of private or public enterprises --such as collusion among the leading international [...]...
24. Market Power Market Power and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Power: The ability of an individual firm to exert control over prices prevailing in the markets for its products or services. The highest [...]...
25. Current Account Purchases The value of intermediate products in the national production process. An intermediate product is a manufacturing input that has not been converted into a finished product; for example, steel is an intermediate product in the manufacture of an automobile. The value of current account purchases is im......
26. Externalities Externalities and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Externalities: Spillover benefits or costs arising from an economic activity that are not taken into account by producers, resulting in levels [...]...
27. Economies of Scope Economies of Scope and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economies of Scope: Cost savings that occur when reductions in average total costs can be achieved by increasing the number of distinct [...]...
28. Sensitive Products Sensitive Products and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Sensitive Products: Goods produced by a domestic industry employing large numbers of workers, for which the costs of [...]...
29. Autarky Autarky and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Autarky: A policy that attempts to create a self-sufficient national economy entirely insulated from international trade, usually for ideological or [...]...
30. Intra-Industry Trade Inter-Industry and Intra-Industry Trade and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Inter-Industry and Intra-Industry Trade: Inter-industry trade involves exchanges between countries that link [...]...
31. Commercial Risk The risk borne by an exporter that his foreign customer may be unable to pay for merchandise imported under open account terms. Commercial risk is contrasted with political risks, which arise from governmental actions and are unrelated to the financial condition or credit-wor- thiness of the [...]...
32. Market Disruption A condition in which foreign imports of a given product increase in quantity so rapidly as to cause, or threaten to cause, material injury to a competing domestic industry. A finding of market disruption before the International Trade Commission may result in retaliatory actions against the [...]...
33. Trade Balance J-Curve and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of J-Curve: The expected adjustment path in a country's trade balance following a currency depreciation or devaluation. Because a change in the [...]...
34. Predation Predation and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Predation: In international trade contexts, an aggressive pricing strategy in which a foreign producer prices below cost to drive domestic firms [...]...
35. Rent-Seeking Rent-Seeking and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Rent-Seeking: In international trade contexts, refers to the economically unproductive practice of individuals, firms, and industries investing [...]...
36. Export Subsidy Summary of Export Subsidy A direct payment, tax relief, or other incentive provided by a government to encourage export sales. The use of such devices is apt to be regarded as undesirable by the importing nation and may result in the imposition of Countervailing Duties (read this legal term [...]...
37. Mercantilism Mercantilism and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Mercantilism: A once-prominent economic philosophy that equated national wealth and prowess with the accumulation of gold and other [...]...
38. Agglomeration Economies of Agglomeration and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economies of Agglomeration: Cost savings that occur when industrial flm1s are located in close proximity to each other and are [...]...
39. Market Structure Market Structure and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Structure: Refers to the structure of an industry or market, as reflected in the number and size distribution of sellers and buyers, [...]...
40. TSUSA TSUSA and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of TSUSA (Tariff Schedules of the United States, Annotated): The classification system in which US import data are recorded according to 10,500 [...]...
41. Cross-subsidization Cross-subsidization and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Cross-subsidization: The use of financial resources accumulated by a multinational f1rn1 in one part of the world to fight a competitive [...]...
42. Exceptions Products specifically exempted from trade liberalization, such as duty reductions; usually, exceptions are made to protect domestic industries that would suffer serious harm from increased imports.......
43. Deadweight Loss Deadweight Loss and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Deadweight Loss: The net cost to society due to market imperfections or government interventions such as trade restrictions --i.e., losses by [...]...
44. Eco-packaging Eco-packaging and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Eco-packaging: Refers to national regulations and programs to encourage recycling or reuse of product packaging and [...]...
45. High Technology High Technology and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of High Technology: Products that embody relatively intensive research and development , (R&D) inputs, either directly at the final [...]...
46. Dumping Margin In those instances where a product has been dumped, that is, sold abroad at a price below the fair market value in the country of origin, the dumping margin is the difference between the home market price and the price at which the goods are sold abroad less incidental charges, such as export [...]...
47. Liner Conference Liner Conference and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Liner Conference: In maritime transport, a group of shipping companies that jointly ..determine freight charges, sailing frequencies, and [...]...
48. Offshore Production Offshore Production and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Offshore Production: Manufacturing activities and assembly operations of foreign subsidiaries or affiliates. Beginning in 1963, US [...]...
49. Services Services and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Services: Non-manufacturing industries or business activities. Key service industries include accounting and management consulting, advising, [...]...
50. National Foreign Trade Council National Foreign Trade Council in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of National Foreign Trade Council: An organization of US companies engaged in international trade and investment, based in [...]...
51. Tariff Schedules Tariff Schedules of the United States, Annotated, and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of TSUSA (Tariff Schedules of the United States, Annotated): The classification system in which US import data [...]...
52. Quota Rents Quota Rents and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Quota Rents: The increase in profits that accrue to an import dealer (under an import quota) or an exporting firm (under an export quota or [...]...
53. Imperfect Competition Imperfect Competition and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Imperfect Competition: When an industry is marked by imperfect competition, market prices send "incorrect signals" regarding [...]...
54. Tokyo Declaration The pronouncement of a 1973 gathering in Tokyo of foreign, finance, and trade ministers of the major industrial nations, meeting to discuss economic and trade problems. The joint communique issued by the ministers called for increased trade through the elimination of tariff and nontariff [...]...
55. Vertical Integration Summary of Vertical Integration Also known as vertical expansion, the incorporation into a business or economy of earlier or subsequent stages in the channel of production. For example, a chemical producer may undertake (backward) vertical integration by producing its own petroleum as raw [...]...
56. Administrative Guidance Administrative Guidance (Gyosei-Shido) and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Administrative Guidance (Gyosei-Shido): A system of industrial policy used in Japan since the early 1960s. The term [...]...
57. Airbus Airbus and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Airbus: Refers to commercial aircraft produced by Airbus Industry, a government- backed consortium comprising Aerospatiale (France), Daimler [...]...
58. Trade Negotiations Committee Trade Negotiations Committee (TNC) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Trade Negotiations Committee (TNC): The steering group established at the outset of the GA 1TUruguay Round (Sec. I) to [...]...
59. Rules-Oriented Trade Policy Rules-Oriented Trade Policy and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Rules-Oriented Trade Policy: An idealized approach to trade policy under which governments establish a set of rules for the [...]...
60. Standardized Field Sobriety Test Officers Contents Standardized Field Sobriety Test Officers Note: Driving While Impaired (DWI) is the term used throughout this publication to refer ... Read more...
61. Differentiated Product A product sold in a modified form in different countries with the object of accommodating perceived variations in taste or responding to differing local requirements.......
62. Net National Product Summary of Net National Product The sum total, expressed in monetary terms, of all goods and services produced in a country during a given period (usually one year), less the value of capital consumed (depreciation).(Main Author: William J. Miller) Resources See Also Gross [...]...
63. Primary Product Any agricultural, forest, or fishery product or any mineral sold in its original form, including such processing as may be required to make the product suitable for sale in international commerce.......
64. Product Structure A technique of international marketing employed by some manufacturing firms. The firm is organized into product groups responsible for all marketing, profit and loss, and production of the product worldwide. Each product group reports directly to corporate headquarters, which provides financial, leg......
65. Product Cycle Product Cycle and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Product Cycle: The evolution of a production process from innovation through obsolescence, constituting a fundamental dynamic element in [...]...
66. Gross Domestic Product Summary of Gross Domestic Product The aggregate value, expressed in monetary terms, of all goods and services produced within a national economy during a given time period, usually one year.(Main Author: William J. Miller) Gross Domestic Product (gdp) (in the Human Development [...]...
67. Gross National Product Summary of Gross National Product The aggregate value, expressed in monetary terms, of all goods and services attributable to a national economy during a given period, usually one year. The final sum includes all goods and services produced within the economy, plus income earned overseas [...]...
68. Product Line Cycle The concept that a product undergoes three stages of development: (1) new product (a firm introduces a new product or significant differentiated product and for a period of time enjoys a virtual monopoly), (2) growth product (the product is imitated and produced by several firms; nonprice competitio......
69. Additional Product Aid A feature of the Common Agricultural Policy of the European Economic Community, which provides price supports to EEC producers affected by import competition. The "community preference" mechanism of the CAP eliminates external competition for most items but does not respond for certain pro......
70. Product Classification In the United States For information about Product classification in the context of international trade, click here...
71. Product Valuation In the United States For information about Product valuation in the context of international trade, click here...
72. Clean Product Carrier A tank vessel that transports only refined petroleum products, such as gasoline or kerosene, as contrasted with a ship which carries crude petroleum.......
73. Direct Product Resources See Also Further Reading Information about Direct Product in the Encyclopedia of World Trade: from Ancient Times to the Present (Cynthia Clark Northrup) ...
74. Product Liability Product Liability Explained References See Also Tort (in international or comparative law) Product Liability (in international or comparative law) References See Also Tort Product Liability Resources See Also Tort Product Liability...
75. Consumer Product Resources See Also Consumer goods...
76. Product Labelling Resources See Also Business Company Corporation Enterprise...
77. Manufactured Product Resources See Also Industrial Production Industrial Property Regulation...
78. Industrial Product Resources See Also Industry Industrial Unionism Labor Law Industrial Disputes Business Law...
79. Tort and Product Liability Tort and Product Liability: Summary In this entry, Tort and Product Liability covers: Elements of a Tort Unintentional Torts (Negligence) Special and Limited Duties Joint and Several Liability Defenses Punitive Damages Contingency Fee System Product Liability Mass Torts...
80. Attorney's Work Product Resources See Also Work product rule...
81. Specialization Agreement Also known as a rationalization agreement, an arrangement among competing manufacturers of like products that each will sell only certain products, thereby providing each participant in the agreement a dominant position for a given product.......
82. Strategic Stockpile The store of critical metals and other industrial commodities maintained by the U.S. government as a buffer against disruptions of supply in times of war or national emergency. The maintenance of such stockpiles is authorized by the Strategic and Critical Materials Stockpiling Act of 1946.......
83. Structural Adjustment Lending World Bank program designed to assist developing nations with balance of payments problems resulting from correctable internal economic patterns. The program provides hard currency loans conditional upon agreement by the beneficiary country to undertake certain specified corrective measures, [...]...
84. Product International Product Life Cycle (IPLC) in International Trade Meaning of International Product Life Cycle (IPLC), according to the Dictionary of International Trade (Global Negotiator): This marketing describes the diffusion process of an innovation across national boundaries. Typically, [...]...
85. Tourism Product Resources See Also Further Reading Information related to tourism product in the Max Planck Encyclopedia of International Law(MPEPIL), Germany, United Kingdom...
86. Petroleum Product Resources See Also Energy Utilities Natural Resources Energy Clean Energy...
87. Protectionism Protectionism Definition Protectionism may be defined as government policies that favor domestic products over imported goods. The debate between protectionism and free trade has been a continuing issue in United States politics. Meanings For information on: * systematic protectionism [...]...
88. Allocation Cartel An agreement among firms in a particular industry by which each participant is assigned certain customers or areas within which it will be the exclusive or principal supplier.......
89. Antitrust Summary of Antitrust Legislation or public policies opposed to the monopolization or domination of a particular product or industry by one firm or a group of firms acting in concert. The object of antitrust laws is to preserve market competition. In the United States violation of the [...]...
90. Arbitrage Summary of Arbitrage The practice whereby foreign exchange or commodities are purchased in one market at lower cost and rapidly traded off in another, higher cost market. For example, if the pound sterling sells for $1.50 in Paris, but only $1.45 in New York, an arbitrageur could buy [...]...
91. Balance of Payments Balance Of Payments Summary of Balance Of Payments The sum owed to or by a nation as the result of its international transactions during a given time period, usually one year. The balance of payments is calculated by subtracting the nation's total payments to foreigners from total [...]...
92. Barter Summary of Barter A direct exchange of products without cash. In some cases, a third party is brought into the transaction to dispose of some or all of the goods in a third country; this practice is known as switch trading. See Countertrade.(Main Author: William J. Miller) Barter [...]...
93. Cabotage Summary of Cabotage Literally, coastwise navigation, generally used to denote the proscription of foreign flag vessels in a nation's coastwise trade. Since an act of Congress in 1817 (2 Stat. 351), the coastwise trade of the United States has been reserved exclusively to American [...]...
94. Capital Account Entries in a nation's balance of payment accounts reflecting long- or shortterm loans made to other countries, or by other countries to the recording nation. See Balance of Payments.......
95. Cartel Summary of Cartel An alliance among firms in the same line of business aimed at controlling or dominating their field on an international basis.(Main Author: William J. Miller) Definition of Cartel In accordance with the work A Dictionary of Law, this is a description of Cartel : [...]...
96. Commodity Summary of Commodity A nondifferentiated product produced with commonly available technology.(Main Author: William J. Miller) The Legal History of Commodity in Islamic Law This section provides an overview of Commodity in Islamic Law Commodity in International Trade Meaning of [...]...
97. Complementary Exporting An arrangement in which a manufacturer markets his products internationally through the distribution channel of another firm, usually a manufacturer of similar but noncompetitive products.......
98. Consortium Summary of Consortium A multiparty commercial undertaking, differing from a joint venture by virtue of the comparatively large number of participants.(Main Author: William J. Miller) Consortium and International Trade Economy In relation to international trade economy, [...]...
99. Conventional International Law International law that has arisen as the product of treaties or formal agreements among nations, as compared with international law that has developed through custom and usage over time.......
100. Convertibility Summary of Convertibility The ability of a currency to be exchanged for other currencies in settlement of current account transactions. Currencies are convertible in varying degrees, although the ability of nonresidents freely to purchase and sell a given currency, without governmental [...]...
101. Cross-licensing An arrangement in which one firm grants to another licenses to exploit proprietary rights in its patents or trademarks, secret processes, et cetera, in return for similar licensure to use the rights or processes of the recipient firm.......
102. Current Account Summary of Current Account An entry in a nation's balance of payments accounts reflecting the purchase of goods or services for consumption immediately or in the near future. See Balance of Payments.(Main Author: William J. Miller) Current Account and International Trade [...]...
103. Cutthroat Competition A discriminatory pricing practice whereby one vendor deliberately reduces prices to a low level with the object of driving out competition, thereby creating a monopoly or dominant market share. In the United States such practices are banned, although they are often employed in foreign countries.......
104. Devaluation Summary of Devaluation The official reduction of the value of a nation's money in relation to a standard (usually gold), special drawing rights, or the U.S. dollar. Inasmuch as all currencies are ultimately valued in terms of some standard, devaluation results in the conscious increase [...]...
105. Entente Literally, "an agreement." In political usage, an understanding among governments as represented by accords on important areas. Commercially, the term is used on the Continent as a synonym for a cartel.......
106. Horizontal Integration Summary of Horizontal Integration Also known as horizontal expansion, the expansion of a firm through the acquisition of additional production capacity in its primary field. For example, a shipping company may expand horizontally by acquiring other vessels on the same trade route.(Main [...]...
107. Import Substitution Summary of Import Substitution The act of eliminating imports of a given product by commencing production locally, often accompanied by controls such as increased duties, quotas, or outright bans to discourage or prevent continued foreign imports. This approach is fairly common on the part [...]...
108. Invisibles Synonymous with Invisible Exports And Imports (read this and related legal terms for further details).......
109. Joint Venture Summary of Joint Venture A business enterprise with more than one equity participant; for example, an agreement between a German firm and a U.S. firm to capitalize jointly a new factory in Venezuela. Many countries impose restrictions on joint ventures; these restrictions may take the form [...]...
110. Laissez-faire Laissez Faire Summary of Laissez Faire A doctrine that government should refrain from any form of trade regulation, leaving productivity and distribution of wealth purely to market forces and individual industry. The concept arose around the beginning of the eighteenth century in France, [...]...
111. Oligopoly Summary of Oligopoly Literally, a market in which there are only a few sellers of a given product or service. Under oligopolistic conditions, no one seller can establish market prices, except in concert with the other suppliers; if such concerted action develops, the suppliers are operating [...]...
112. Patent Summary of Patent A grant issued by a governmental authority to an inventor permitting, for a fixed number of years, an exclusive right to the invention. The grant includes the prerogative of preventing others from making, using, or selling the invention covered. Through various [...]...
113. Portfolio Investment A minority interest in a foreign venture from which income is derived in the form of dividends; normally such an interest does not convey any significant control over the management or operations of the foreign firm.......
114. Price Supports A program of governmental action designed to stabilize or lift the price that producers receive for their products. These actions may include direct cash payments, government purchase of output to force up market prices, or special financing. Such supports are most commonly applied to agriculture.......
115. Repatriation Summary of Repatriation The transfer of investment proceeds or the return of capital from a foreign country back to the home country of the investor.(Main Author: William J. Miller) Repatriation and International Trade Economy In relation to international trade economy, [...]...
116. Soft Currency A national currency that, because of exchange controls, is not freely convertible into gold or other currencies. Such controls are usually manifest in officially set rates of exchange that do not reflect the price of the soft currency, were it permitted to trade freely.......
117. Soft Loan A loan repayable by a foreign borrower in a Soft Currency (read this and related legal terms for further details). Such loans usually have been the product of long-term sales to countries without hard currency repayment ......
118. Standard International Trade Classification A system for capture of international trade statistics developed under the auspices of the United Nations. The original SITC was adopted by the Economic and Social Council of the United Nations in July 1950. By 1960 many nations were compiling data on a commodity basis; coincidental with the [...]...
119. Tie-In Contract An arrangement by which a desired product (tying product) can be purchased only upon agreement to purchase certain other products (tied products). Tie-in contracts are largely forbidden by the antitrust Clayton Act. ......
120. Trade Barrier Summary of Trade Barrier Constraints upon the exchange of goods among nations imposed by governments; such constraints are manifested in the form of tariffs, quotas, exchange controls, and a variety of so-called nontariff barriers. Barriers usually arise to protect domestic industries, [...]...