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The Immigration Act of 1965
Less Developed Country
A country with a lower level of industrialization, usually accompanied by lower living standards and lower HDI (Human Development Index) scores.
Expropriation
The act of a government taking privately owned property, either with compensation or without compensation, for public use.
Nonconvertible Currency
A currency that cannot be freely converted into other currencies on the foreign exchange market due to foreign exchange regulations.
Globalization
The process of interaction and integration among people, companies, and governments worldwide, often characterized by global trade and cultural exchange.
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