Beggar-thy-neighbor devaluation

A devaluation that is designed to cheapen a nation's currency and thereby increase its exports at other countries' expense and reduce imports. Such devaluations often lead to trade wars.

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Beggar-thy-neighbor
An international trade policy of competitive devaluations and increased protective barriers where one country seeks to gain at the expense of its trading partners.

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Term loan

A bank loan, typically with a floating interest rate, for a specified amount that matures in between one and ten years and requires a specified repayment schedule.


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