Across
- 2. - A type of indirect imperialism in which wealthy countries exert undue influence over the economics of less-developed countries.
- 5. - A sector of the economy that is not governed, safeguarded, or taxed by the government. Is also self-employed by a family, for example, crafting things at home.
- 6. - A scenario in which countries enjoy economic development but do not develop quickly enough to catch up with other industrialized countries.
- 7. WashingtonConsensus - Developed countries, whether they had Import Substitution or were based on agricultural exports, faced serious economic issues such as government debt. The World Bank, the International Monetary Fund, and other organizations implemented liberalization policies that required nations to sell state-owned enterprises, eliminate subsidies, decrease tariffs, reduce state size, and accept foreign investment.
Down
- 1. - A program that provides modest loans to local enterprises who need money.
- 3. - Countries that sought innovative technology and built businesses centered on export.
- 4. - When "countries restrict imports, raising tariffs or nontariff barriers" to promote local industries.