The Development Gap Vocab Flashcards
Economic core
The centre of a country or region, economically. Businesses thrive; people have opportunities and are relatively wealthy. A highly developed area.
Economic periphery
The edge of a country or region, economically. It may not be physically on the edge, but it is a more remote, difficult area where people tend to be poorer and have fewer opportunities. A less well developed area.
European Investment Bank
The EU’s non-profit, long-term lending institution, who invest in regional development in Europe. EU member countries contribute to the EIB according to their size and wealth.
Fair trade
Agricultural producers are paid a fair price for produce, to improve their standard of living
Interdependence
When countries have a need of or are reliant on each other
Primary Product Dependency
Relying on one product for income
Sustainable development
Development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Social, economic and environmental
Trade
The exchange of goods and services between countries
Trade bloc
Several countries grouped together to trade with reduced barriers e.g. The EU
Tariffs
Government taxes on imported or exported goods
Aid
Money, food, training or technology given by rich countries to poorer, either to help after an emergency or for long-term development
Bilateral aid
Aid given by one government to another - may include trade tied to aid
Bottom-up aid
Aid used to provide basic health care, clean water and money for education
Charitable aid
Aid given free from NGOs such as charities
Debt
Money owed to others, such as to a bank or a global organisation
Debt relief
Forgiving a debt in part or total - writing it off
