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Cost-Savings Practice
Actions or strategies implemented by an organization or individuals to reduce expenses and save money without compromising quality or performance.
Recession
A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
World Trade Organization (WTO)
An international organization that regulates and facilitates global trade agreements between nations to ensure trade flows smoothly, predictably, and freely.
Trade Negotiations
The process whereby countries or organizations discuss, agree upon, and arrange the terms of trade in order to facilitate international business.
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