Financial centreA financial centre (financial center in American English) or financial hub is a location with a concentration of participants in banking, asset management, insurance or financial markets with venues and supporting services for these activities to take place. Participants can include financial intermediaries (such as banks and brokers), institutional investors (such as investment managers, pension funds, insurers, and hedge funds), and issuers (such as companies and governments).
African UnionThe African Union (AU) is a continental union consisting of 55 member states located on the continent of Africa. The AU was announced in the Sirte Declaration in Sirte, Libya, on 9 September 1999, calling for the establishment of the African Union. The bloc was founded on 26 May 2001 in Addis Ababa, Ethiopia, and launched on 9 July 2002 in Durban, South Africa. The intention of the AU was to replace the Organization of African Unity (OAU), established on 25 May 1963 in Addis Ababa by 32 signatory governments; the OAU was disbanded on 9 July 2002.
Money launderingMoney laundering is the process of illegally concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime. In United States law, money laundering is the practice of engaging in financial transactions to conceal the identity, source, or destination of illegally gained money.
KosovoKosovo (Kosova kɔˈsɔva; Косово kôsoʋo), officially the Republic of Kosovo (Republika e Kosovës; Republika Kosovo), is a country in Southeast Europe with partial diplomatic recognition. Kosovo lies landlocked in the centre of the Balkans, bordered by Serbia to the north and east, North Macedonia to the southeast, Albania to the southwest, and Montenegro to the west. Most of central Kosovo is dominated by the vast plains and fields of Metohija and the Kosovo field.
Poverty reductionPoverty reduction, poverty relief, or poverty alleviation is a set of measures, both economic and humanitarian, that are intended to permanently lift people out of poverty. Measures, like those promoted by Henry George in his economics classic Progress and Poverty, are those that raise, or are intended to raise, ways of enabling the poor to create wealth for themselves as a conduit of ending poverty forever. In modern times, various economists within the Georgism movement propose measures like the land value tax to enhance access to the natural world for all.
RomaniaRomania (roʊˈmeɪniə ; România româˈnI.a) is a country located at the crossroads of Central, Eastern, and Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, Serbia to the southwest, Moldova to the east, and the Black Sea to the southeast. It has a predominantly temperate-continental climate, and an area of , with a population of 19,892,812 inhabitants (2023) made by macrotrend and worldometer. Romania is the twelfth-largest country in Europe and the sixth-most populous member state of the European Union.
1997 Asian financial crisisThe 1997 Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid, and worries of a meltdown quickly subsided.
Greek government-debt crisisGreece faced a sovereign debt crisis in the aftermath of the financial crisis of 2007–2008. Widely known in the country as The Crisis (I Krísi), it reached the populace as a series of sudden reforms and austerity measures that led to impoverishment and loss of income and property, as well as a small-scale humanitarian crisis. In all, the Greek economy suffered the longest recession of any advanced mixed economy to date. As a result, the Greek political system has been upended, social exclusion increased, and hundreds of thousands of well-educated Greeks have left the country.
G7The Group of Seven (G7) is an intergovernmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States; additionally, the European Union (EU) is a "non-enumerated member". It is organized around shared values of pluralism, liberal democracy, and representative government. As of 2020, G7 members are large IMF advanced economies and account for over half of global net wealth (at over $200 trillion), 30 to 43 percent of global gross domestic product, and 10 percent of the world's population (770 million people).
Import substitution industrializationImport substitution industrialization (ISI) is a trade and economic policy that advocates replacing foreign imports with domestic production. It is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products. The term primarily refers to 20th-century development economics policies, but it has been advocated since the 18th century by economists such as Friedrich List and Alexander Hamilton.
