Español
FrançaisIn international trade, default is failure to meet the legal obligations (or conditions) of a loan. A national sovereign default is the failure or refusal of a government to repay its national debt. Default can be of two types: Debt services default: occurs…
Read MoreDeveloped countries
A term used to distinguish the more industrialized nations, including most OCDE member countries, from developing or less-developed countries.
Read MoreDeveloping countries
The developing countries generally lack a high degree of industrialization, infrastructure and other capital investment, sophisticated technology, widespread literacy and advanced living standard among their populations as a whole.
Read MoreDiscrimination
In international trade, inequality of treatment accorded to imports from different countries, such as preferential tariff rates for imports from particular countries or trade restrictions targeted against particular countries.
Read MoreDistortion
When prices and production are higher or lower than levels that would usually exist in a competitive market.
Read More
