Third World

by

International Legal Research

Information about Third World in free legal resources:

Treaties & Agreements

International Organizations

Jurisprudence $ Commentary

European Union

IP Law

Contents

Third World

Summary of Third World

That group of less developed and developing nations not included in the political camps of either the Western industrialized states or the communist bloc. Most nations in Latin America, Africa, and Asia fall into this category. The term is commonly applied to nations with a per capita income under one thousand dollars. A distinction is sometimes made between the Third World generally and the so-called Fourth World, defined as those nations having a per capita income under three hundred dollars. See First World, Second World.

(Main Author: William J. Miller)

Introduction to Third World

Third World, general designation of economically developing nations. The term arose during the cold war, when two opposing blocs-one led by the United States (first), the other led by the USSR (second)-appeared to dominate world politics. Within this bipolar model, the Third World consisted of economically and technologically less developed countries belonging to neither bloc. Originated by the Martinique-born Marxist writer Frantz Fanon, the designation was essentially negative and not always accepted by the countries concerned. Although political and economic upheavals in the late 1980s and early 1990s marked the collapse of the Soviet power bloc, “Third World” remains a useful label for a conglomeration of countries otherwise difficult to categorize.

The countries of the Third World, containing some two-thirds of the world’s population, are located in Latin America, Africa, and Asia. Politically, they are generally nonaligned (see Nonaligned Movement). Some are moving out of their previous situation and may soon join the ranks of industrialized countries. Others, with economies considered intrinsically incapable of development, are at times lumped together as forming a “fourth world.”

Political instability caused by precarious economic situations is widespread in the Third World. Democracy in the Western meaning of the term is almost completely absent. Both the Western and the former Soviet blocs have tried to entice the Third World to follow their own examples, but the countries concerned generally prefer to create their own institutions based on indigenous traditions, needs, and aspirations; most choose pragmatism over ideology. It is debated whether China is part of the Third World, with which it once identified itself on racial, cultural, and developmental grounds, proclaiming that the exploited countries should unite against imperialist forces, both Western and Soviet. After the death of Mao Zedong (Mao Tse-tung) in 1976, however, the Chinese attitude moderated.

The Third World displays little homogeneity; it is divided by race, religion, culture, and geography, as well as frequently opposite interests. It generally sees world politics in terms of a global struggle between rich and poor countries-the industrialized North against the backward South. Some nations, such as those of the Organization of Petroleum Exporting Countries (OPEC), have found ways to assert their economic importance as sources of raw materials indispensable to advanced societies, and others may follow suit. Widely advocated within the Third World is a so-called New Economic Order, which through a combination of aid and trade agreements would transfer wealth from the developed to the developing nations.” (1)

Concept of Third World

An introductory definition of Third World is provided here: A term widely used in the past to refer to those nations not aligned with the U.S. or the Soviet Union during the Cold War era. The term also, independent from the U.S./Soviet engagement during the Cold War, is used to refer to poor nations, and is sometimes used with the terms “developing” or “underdeveloped” nations.

Concept of Third World

Note: explore also the meaning of this legal term in the American Ecyclopedia of Law.

Third World

Embracing mainstream international law, this section on third world explores the context, history and effect of the area of the law covered here.

Resources

See Also

  • Foreign Affairs
  • National Defense

Resources

See Also

  • Foregin Policy
  • Foreign Affairs

Resources

See Also

  • Legal System
  • Country
  • Jurisdiction
  • Immigration
  • Consulate

Resources

Further Reading

  • The entry “third world” in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the Encyclopaedic Dictionary of International Law, 2009), Oxford University Press

Resources

Notes and References

Guide to Third World

Third World and the GATT Policy Negotiations

In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Third World: The term originated during the Cold War, when it was applied to countries that belonged neither to the Western industrialized countries (the “First World”) nor to the Communist bloc (the “Second World”).

Third World and International Trade

Resources

See Also

developing countries

Related Entries of the International Encyclopedia:

  1. Convention for the Protection of the World Cultural and Natural Heritage 2 Contents Convention for the Protection of the World Cultural and Natural Heritage   Article 22 Assistance granted by the World ... Read more...
  2. Intergovernmental Organizations A list of some Intergovernmental Organizations is the following: Comprehensive Nuclear-Test-Ban Treaty Organization ( CTBTO ) Food and Agriculture Organization ( FAO ) Global Environment Facility ( GEF ) Intergovernmental Panel on Climate Change ( IPCC ) International Atomic [...]...
  3. Cultural Protection conventions Contents Cultural Protection Treaties and related International Agreements Cultural Protection Treaties Treaty on the Protection of Artistic and Scientific Institutions ... Read more...
  4. Customs Territory The geographical area of a country, its possessions, and surrounding waters within which the customs authority is empowered to impose duties and controls upon foreign merchandise entering therein. The customs territory need not necessarily incorporate all the territory over which a nation [...]...
  5. Customs Cooperation Council An international organization established for the purpose of harmonizing the customs procedures and techniques of member countries. The agency is concerned with the mechanics of customs administration and is not involved in matters relating to tariff levels or similar substantive economic [...]...
  6. Developed Countries Summary of Developed Countries A generalized grouping of the industrialized nations. Customarily, the term is applied to those nations that are members of the organization for economic cooperation And Development (read this and related legal terms for further details) plus the [...]...
  7. United Nations Educational Scientific and Cultural Organization United Nations Educational, Scientific And Cultural Organization United Nations Educational, Scientific and Cultural Organization Outline UNESCO was set up in 1945 as a specialised and independent agency of the UN. Its main task is to promote international cooperation in the areas of [...]...
  8. Trade Creation The substitution of lower- cost foreign goods for higher-cost domestic manufactures.......
  9. Education and culture international conventions Contents Education and culture international conventions Convention for the Protection of the Architectural Heritage of Europe 3.10.1985 Agreement Establishing a ... Read more...
  10. Certificate of Origin A document presented to customs authorities at the time of importation to authenticate the national origin of merchandise. The certificate is customarily issued by a recognized chamber of commerce or governmental authority in the country of origin.......
  11. European Free Trade Association Summary of European Free Trade Association A free trade area consisting of seven European countries among which tariffs and quantitative restrictions on industrial imports have been eliminated. Established in 1960 by the Stockholm Convention, EFTA originally included Austria, Denmark, [...]...
  12. Import Licensing Import Licensing and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Import Licensing: Procedures requiring the submission of an application or other documentation (other than those [...]...
  13. East- West Trade A general reference to trade between the industrial nations of the West, particularly those nations that are members of the Organization for Economic Cooperation and Development ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for [...]...
  14. Customs Administration In the United States For information about Customs Administration in the context of international trade, click here...
  15. Customs Law Definition In the United States For information about Customs Law Definition in the context of international trade, click here...
  16. Customs Meaning In the United States For information about Customs Meaning in the context of international trade, click here...
  17. UN The United Nations, abbreviated as UN, was established on 24 October 1945 by 51 countries committed to preserving peace through international co-operation and collective security. Today, there are 193 member states, or nearly every country in the world When countries join the United Nations [...]...
  18. United Nations Commission on International Trade Law United Nations Commission On International Trade Law (UNCITRAL) United Nations Commission on International Trade Law Outline The United Nations Commission on International Trade Law was set up in 1966 by the General Assembly of the United Nations to deal with conflicts of national laws [...]...
  19. Kyoto Convention An international agreement, sponsored by the Customs cooperation Council (read this and related legal terms for further details), the object of which is to harmonize the methods and procedures of national customs authori......
  20. TIR Convention An international agreement designed to speed international cargo movements across third countries en route to final destination. Originally established in 1949 as a means of speeding European road transportation, the convention now applies to other modes of transport as well. Basically, each [...]...
  21. Customs Trade Regulations Law of Similars and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Law of Similars: Regulations limiting importation of a product or altering its tariff treatment if a "similar" [...]...
  22. Rules of Origin Rules of Origin and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Rules of Origin: The laws, regulations, and administrative practices that are applied to ascribe acountry of origin to [...]...
  23. Cultural Heritage Law Introduction This entry provides an overview of the legal framework of cultural heritage law, with a description of the most significant features of cultural heritage law at international level. Related Work and Conclusions Resources See Also References (Papers) The Time Is Now: Why The [...]...
  24. Trade and Commercial Relations conventions Contents Trade and Commercial Relations international conventions Trade and Commercial Relations multilateral conventions General Agreement on Tariffs and Trade (1947) ... Read more...
  25. Customs Law ......
  26. Munitions Munitions and the Laws of International Trade Munitions list in Some Countries Export Control in Merger and Acquisitions Registration as a munitions manufacturer Registration as munitions broker Due diligence under the international traffic in arms regulations: Munitions list [...]...
  27. United Nations Introduction to United Nations United Nations (UN), international organization of countries created to promote world peace and cooperation. The UN was founded after World War II ended in 1945. Its mission is to maintain world peace, develop good relations between countries, promote [...]...
  28. 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, [...]...
  29. Berne Convention Definition of Berne Convention In accordance with the work A Dictionary of Law, this is a description of Berne Convention : The Berne Convention for the Protection of Literary and Artistic Works: an international convention of September 1886 that sets out ground rules for protection of [...]...
  30. Economic Integration Summary of Economic Integration The process of unifying two or more national economies through conscious coordination of trade, fiscal, and monetary activities. Economic integration is normally preceded by the reduction or abolition of tariffs, quotas, and similar constraints upon trade [...]...
  31. Customs Definition In the United States For information about Customs Definition in the context of international trade, click here...
  32. Customs Regulations In the United States For information about Customs Regulations in the context of international trade, click here...
  33. Customs Invoice Read Invoice as cross-reference.......
  34. Preferences Preferences and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Preferences: Special trade advantages granted by an importing country to certain trading partners, in contrast to [...]...
  35. Customs Law Enforcement In the United States For information about Customs Law enforcement in the context of international trade, click here...
  36. Heritage Convention Embracing mainstream international law, this section on heritage convention explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "heritage convention" in the Parry and Grant Encyclopaedic Dictionary of International Law [...]...
  37. Trade Bloc Trade Bloc and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Trade Bloc: A general term referring to regional arrangements among countries that have established formal mechanisms for [...]...
  38. Trading Company A firm engaged in the purchase, distribution, and marketing of products in international trade. Generally, the trading company deals with products of unrelated firms as well as the manufacturers of joint ventures in which it is involved.......
  39. Caribbean Basin Caribbean Basin Initiative (CBI) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Caribbean Basin Initiative (CBI): A non-reciprocal preferential arrangement established by the United [...]...
  40. Customs Brokers In the United States For information about Customs brokers in the context of international trade, click here...
  41. Customs Law Procedures In the United States For information about Customs Law Procedures in the context of international trade, click here...
  42. Association of Natural Rubber Producing Countries See the International Commodity Organization......
  43. Most-favored-nation A privilege granted to a nation to have customs duties levied upon its products at the lowest rate offered to any other nation. Customarily, the extension of most favored nation status is reciprocal. See tariff (Customs).......
  44. List of United Nations Cross References List of United Nations Cross References Economic and Social Council General Agreement on Tariffs and Trade International Bank for Reconstruction ... Read more...
  45. Arab League Summary of Arab League An association of independent Arab states formed for the purpose of advancing cooperation among the members in political, economic, and social matters. The league, formed in Cairo in 1945, has a permanent council and secretariat. A principal objective of the league [...]...
  46. GATT Accession GATT Accession Summary of GATT Detais can be found in General Agreement on Tariffs and Trade). Accession Process The process was described by Christopher Mark in 1993: "Joining the GENERAL AGREEMENT ON TARIFFS AND TRADE is rarely a simple or straightforward matter --especially if the [...]...
  47. Countries Sanctioned Countries Sanctioned and the Laws of International Trade Countries or entities currently subject to sanctions by the United States: Burma International Trade Control Legislation Countries currently subject to sanctions by the United States: The Iranian Assets Control Regulations: [...]...
  48. Import Restrictions Import Restrictions and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Import Restrictions: Measures to limit or control the volume of imports by means of tariffs ornontariff barriers [...]...
  49. Customs Law Rules In the United States For information about Customs Law Rules in the context of international trade, click here...
  50. Import Law In the United States For information about Import Law in the context of international trade, click here...
  51. Wco Wco in International Trade Meaning of Wco, according to the Dictionary of International Trade (Global Negotiator): The World Customs Organization is an independent intergovernmental body whose mission is to enhance the effectiveness and efficiency of customs administrations. With over 90 [...]...
  52. Unctad Concept of Unctad An introductory definition of Unctad is provided here: United Nations Conference on Trade and Development: formed 1964: first Secretary General Raul Prebisch: called for reform of system of international trade based on liberalism and comparative advantage, in order to assist [...]...
  53. Trade War Introduction to Trade War Trade War, economic tug-of-war between nations in which each side tries to limit the other's exports while flooding the other's market with its own goods." (1) Resources Notes and References Information about "http://lawi......
  54. List of international public law topics Contents List of international public law topics This is a comprehensive list of entries dealing with public international law, including ... Read more...
  55. Tariff (Customs) A document issued by a nation's customs authority principally for the purpose of specifying rates of duty to be applied on various imported products. A tariff customarily also includes quantitative restrictions (quotas) upon certain imports, preferential duties on products imported from specifie......
  56. Lome Convention Introduction to Lome Convention Lomé Convention, trade and aid agreement between the European Union (EU) and 70 African, Caribbean, and Pacific (ACP) countries, first signed in February 1975 in Lomé, Togo. The Lomé Convention provided a framework of cooperation between [...]...
  57. Customs Enforcement In the United States For information about Customs enforcement in the context of international trade, click here...
  58. United Nations Economic Commission for Europe United Nations Economic Commission for Europe (UNECE) The United Nations Economic Commission for Europe, abbreviated as UNECE, is one of five regional commissions of the United Nations. UNECE was set up in 1947 to promote pan-European economic integration. To do so, it groups 56 countries [...]...
  59. International organizations articles of conventions Contents International Organizations articles of conventions Agreement Establishing the European Bank for Reconstruction and Development 29.5.1990 Convention Establishing the Multilateral ... Read more...
  60. International law index U Contents International law index U   Ultimatum Underwater Cultural Heritage Unfriendly Act UNIDROIT Unification and Harmonization of Laws Uniform Sales ... Read more...
  61. Column 1 Rate The rate of duty applied by U.S. Customs to imports from nations enjoying Most Favored Nation (read this and related legal terms for further details) status. See TARIFF (CUSTOMS); Tariff Schedules of the United States.......
  62. Organization For European Economic Cooperation Organization For European Economic Cooperation Summary of Organization For European Economic Cooperation A post-World War II organization established to coordinate the reconstruction of Europe. The OEEC arose in response to an Anglo-French declaration in 1947 calling for European [...]...
  63. Central African Customs and Economic Union Central African Customs And Economic Union Central African Customs and Economic Union Outline The Central African Customs and Economic Union (CACEU or UDEAC: Union Douanier et Economique de l'Afrique Centrale) The union came into existence in 1966 pursuant to a treaty signed in 1964 by [...]...
  64. 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 [...]...
  65. International Trade Organization International Trade Organization (ITO) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of International Trade Organization (ITO): (Not to be confused with Multilateral Trade "Organization, Sec. I). An [...]...
  66. Customs Violations In the United States For information about Customs violations in the context of international trade, click here...
  67. Italy Cultural Issues Italy in 2011 United States views on international law (based on the document "Digest of U.S. Practice in International Law"): In 2011, the United States acted to continue to protect Italy's cultural heritage. Effective January 19, 2011, the United States and Italy amended and [...]...
  68. Preservation of Heritage Abroad Preservation of America's Heritage Abroad in 2011 United States views on international law (based on the document "Digest of U.S. Practice in International Law"): The Commission for the Preservation of America's Heritage Abroad ("the Commission") is an independent [...]...
  69. Cultural Heritage Introduction This entry provides an overview of the legal framework of cultural heritage, with a description of the most significant features of cultural heritage at international level. Related Work and Conclusions Resources See Also References (Papers) Indigenous Peoples' Rights To [...]...
  70. Customs Border Protection In the United States For information about Customs Border Protection in the context of international trade, click here...
  71. First World Summary of First World A general reference to the industrialized nations of the West, primarily the members of the Organization For Economic Cooperation And Development (read this and related legal terms for further details), but often including other prosperous nations as well. See Second [...]...
  72. Second World Summary of Second World A general reference to those countries having centrally planned economies. See First World, Third World.(Main Author: William J. Miller) Embracing mainstream international law, this section on second world explores the context, history and effect of the [...]...
  73. World Trade Organization Unlike GATT, the WTO is a permanent body but not a specialized agency of the United Nations. Introduction to World Trade Organization World Trade Organization (WTO), international body that promotes and enforces the provisions of trade laws and regulations. The World Trade Organization has [...]...
  74. World Intellectual Property Organization Summary of World Intellectual Property Organization A specialized agency of the United Nations charged with fostering international agreements to protect rights to intellectual property, with the object of facilitating international technology transfer. WIPO serves as the nucleus for new [...]...
  75. Fourth World Summary of Fourth World A general reference to the poorest nations of the world, i.e., those with per capita incomes under three hundred dollars. See FIRST WORLD, SECOND WORLD. Third World.(Main Author: William J. Miller) Embracing mainstream international law, this section on [...]...
  76. World Bank World Bank and the World Bank Group Further Reading A concise encyclopedia of the United Nations (including World Bank , H Volger, KA Annan -2010) The Oxford Handbook on the United Nations (TG Weiss - 2007) International Law: A Dictionary (including World Bank , Boczek, Boleslaw Adam -2005) [...]...
  77. World Trade Contents World Trade World Trade Law Resources The World Trade Organization (WTO) first entered into force as the General Agreement ... Read more...
  78. World Trade Law World Trade Law Contents of World Trade Law Contents of this subject matter include: Introduction: the basis of world trade – an examination of comparative advantage and asking the question: "why trade at all?" the 'Buy Australia' Campaign, the relationship between [...]...
  79. Indicative World Plan A comprehensive investigation of world agricultural production and trade begun in 1946 by the Food and Agricultural Organization. The object of the investigation was to assess (then) current conditions in agriculture, identify future needs and opportunities, and recommend strategies. Significant obj......
  80. World Intellectual Property Organization-World Trade Organization: Agreement Between WIPO and WTO Contents World Intellectual Property Organization-World Trade Organization: Agreement Between WIPO and WTO   Article 1 Abbreviated Expressions For the purposes ... Read more...
  81. 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 [...]...
  82. Least Developed Countries Summary of Least Developed Countries Those nations suffering the most severe economic and development problems, and requiring substantial and ongoing economic assistance. As a general rule, they are nations with a literacy rate of less than 20 percent and per capita income below two hundred [...]...
  83. World Price The price at which a given commodity is selling internationally under market conditions in effect at the time of sale. To provide a valid comparison between prices, the world price quoted must normally include quality, location, and perhaps other factors, depending upon the commodity.......
  84. World Court Embracing mainstream international law, this section on world court explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "world court" in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the [...]...
  85. Islamic World Contents Islamic World At the peak of its power (the “peak” of the Islamic empire is usually considered to be ... Read more...
  86. World Encyclopedia of Peace World Encyclopedia of Peace Publication details: 4 vols. New York: Pergamon Press, 1986. According to “Introduction to Research in International ... Read more...
  87. World Trade Data Report A service provided to American manufacturers by the International Trade Administration of the U.S. Department of Commerce as a stimulus to exports. For a fee of forty dollars, an American exporter may secure from the International Trade Administration a report on a potential trading partner. The rep......
  88. World Health Organization Public Health Public Health Agencies Introduction to World Health Organization On an international scale, public health is overseen by the World Health Organization (WHO). WHO manages international disease prevention and control efforts, and is involved in training medical personnel, educating [...]...
  89. World Food Programme WFP – World Food Programme Further Reading A concise encyclopedia of the United Nations (including World Food Programme , H Volger, KA Annan -2010) The Oxford Handbook on the United Nations (TG Weiss - 2007) International Law: A Dictionary (including World Food Programme , Boczek, [...]...
  90. World Meteorological Organization WMO – World Meteorological Organization Further Reading A concise encyclopedia of the United Nations (including World Meteorological Organization , H Volger, KA Annan -2010) The Oxford Handbook on the United Nations (TG Weiss - 2007) International Law: A Dictionary (including World [...]...
  91. History of the World Trade Organization Origins of the World Trade Organization: History ...
  92. World Bank Group World Bank Group in International Trade Meaning of World Bank Group, according to the Dictionary of International Trade (Global Negotiator): The World Bank Group is a specialized United Nations agency dedicated to improving living standards in developing countries through facilitation and [...]...
  93. Decades of the World's Indigenous Peoples Embracing mainstream international law, this section on decades of the world's indigenous peoples explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "decades of the world's indigenous peoples" in the Parry and [...]...
  94. New World Information Order Embracing mainstream international law, this section on new world information order explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "new world information order" in the Parry and Grant Encyclopaedic Dictionary of [...]...
  95. World Tourism Organization Embracing mainstream international law, this section on world tourism organization explores the context, history and effect of the area of the law covered here. Embracing mainstream international law, this section on world tourism organization explores the context, history and effect of the [...]...
  96. World Court Reports Embracing mainstream international law, this section on world court reports explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "world court reports" in the Parry and Grant Encyclopaedic Dictionary of International Law [...]...
  97. World Heritage Convention Embracing mainstream international law, this section on world heritage convention explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "world heritage convention" in the Parry and Grant Encyclopaedic Dictionary of [...]...
  98. World Heritage List Embracing mainstream international law, this section on world heritage list explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "world heritage list" in the Parry and Grant Encyclopaedic Dictionary of International Law [...]...
  99. World Countries Vocabulary World Countries Vocabulary World Countries and Nationality Vocabulary Afghanistan . Adjective used for Afghanistan (also describes nationality): Afghan . Noun ... Read more...
  100. Historical Capitals of the World Contents Historical Capitals of the World List of Historical World Capitals by Continents since 1800 List of Historical World Capitals ... Read more...
  101. Territorial Waters Post-World War II Disputes Introduction to Territorial Waters Post-World War II DisputesAfter World War II various countries unilaterally extended their territorial waters, thus provoking a series of international disputes. In 1952 Chile, Peru, and Ecuador claimed jurisdiction in waters up to 200 nautical mi (370.4 k......
  102. Digest Of Commercial Laws Of The World, Cyprus Chapter 2 IV. FOREIGN DIRECT INVESTMENT § 11:10 In general Cyprus has a declared policy of encouraging foreign investment which is reflected ... Read more...
  103. Free Trade Introduction Free Trade, interchange of commodities across political frontiers without restrictions such as tariffs, quotas, or foreign exchange controls. This economic policy contrasts with protectionist policies that use such restrictions to protect or stimulate domestic industries. See [...]...
  104. Blockade Summary of Blockade An interdiction of maritime traffic to and/or from a given port or nation by the naval forces of another nation. Blockades usually arise out of declared war or other belligerent condition between the country whose area is blockaded and the country whose forces have [...]...
  105. Boycott Summary of Boycott A conspiracy or coalition for the purpose of impeding the commerce of another. Boycotts are often attempts to advance political objectives by economic means and fall into two categories; the primary boycott, in which a party to the boycott refrains from trading with the [...]...
  106. Common Market Summary of Common Market A supranational organization of trading nations, created to promote economic collaboration and minimize constraints on the free movement of goods among the member states. Features of a common market include elimination of tariffs on goods moving between member [...]...
  107. Compensation Summary of Compensation Trade concessions granted by one nation to another in recompense for other trade concessions that have been withdrawn or suspended.(Main Author: William J. Miller) Forms of Criminal Punishment: Compensation Introduction to Compensation Certain punishments [...]...
  108. Discrimination Summary of Discrimination Unequal treatment in the duties, quotas, or administrative controls accorded to the products of one or more nations. Generally speaking, any nation which does not enjoy most FAVORED NATION (read this and related legal terms for further details) status is the subject [...]...
  109. Economic Union Summary of Economic Union Also known as an economic community, an advanced form of economic integration on the part of several states. The economic union incorporates the features of a Common market (read this and related legal terms for further details)—unrestricted free trade among [...]...
  110. Embargo Summary of Embargo A suspension of trade between nations, usually for political reasons. The term embargo is also applied to a governmental edict prohibiting entry or departure from the nation's ports of vessels flying the flag of a particular country. In those cases where ports are closed [...]...
  111. Free Trade Area Summary of Free Trade Area An association of states that seeks to overcome impediments to trade among members by reducing or eliminating tariffs among the participants. The members of a free trade area do not maintain a common external tariff nor do they (usually) provide for the free flow [...]...
  112. Reciprocity Summary of Reciprocity Bilateral reduction of trade barriers; each nation reduces its barriers in return for similar concessions by the other nation. Reciprocity is an official policy of the United States, originated by the Reciprocal Trade Agreements Act of 1934.(Main Author: William J. [...]...
  113. Technical Data Information that can be transferred to overseas users only in accordance with export control regulations. The Office of Export Administration regulations (Part 379) define technical data as: Information of any kind that can be used, or adopted for use, in the design, production, manufacture, [...]...
  114. Terms of Trade Summary of Terms of Trade An export-import price ratio derived by dividing indices of export prices by indices of import prices. For example, when export indices are 105 percent of a base period, and import indices are 98 percent of the same base period, then the terms of trade [...]...
  115. Tied Loan A loan to a foreign nation or firm that requires the proceeds of the loan to be spent only in the creditor nation. Such an arrangement stimulates the economy of the country making the loan. The debtor nation, however, because it is constrained in spending the funds, may encounter higher prices [...]...
  116. 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 [...]...
  117. Torquay Round Detais can be found in General Agreement on Tariffs and Trade).......
  118. Trade Opportunities Program An export promotion service of the U.S. Department of Commerce, International Trade Administration. U.S. firms interested in marketing abroad may list their products with the International Trade Administration; this data will be retained in IT A computers and matched with inquiries received by [...]...
  119. Transaction Value The primary method of valuing goods for customs purposes under the Customs Valuation Agreement (read this and related legal terms for further details).......
  120. Treaty Summary of Treaty Treaty in International Law A formal, written compact entered into by sovereign nations. Customarily, an agreement provides that the treaty will not come into force until it has been ratified, i.e., approved by each government in accordance with its respective [...]...

Leave a Comment