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The WTO is an international organization that regulates international trade. Development policies may support WTO membership as it provides benefits like dispute settlement and trade facilitation but may require domestic adjustments to align with WTO rules.

Protectionism refers to government actions and policies that restrict or restrain international trade to protect local businesses and jobs from foreign competition. While it might safeguard specific industries, it can impede overall development through inefficiencies and retaliation from trade partners.

FDI is an investment made by a firm or individual in one country into business interests in another country. FDI is important for development as it can bring capital, skills, and technology, but policies must ensure it aligns with domestic developmental goals.

Trade liberalization involves reducing tariffs, trade barriers, and restrictions to encourage international trade. Development policies promote liberalization to increase market access for exports and drive economic growth through competition and efficiency.

Commodity dependence refers to an economy's heavy reliance on the export of primary commodities. Such dependence can inhibit development due to the volatility of commodity prices, and policies may focus on diversification to mitigate these risks.

The balance of payments is a record of all economic transactions between residents of a country and the rest of the world. Development policies consider the balance of payments to ensure that the effects of international trade do not lead to unsustainable foreign debt.

Export-led growth is a development strategy that aims to expand the economy by focusing on producing goods for export. It affects development through increased foreign exchange earnings, employment, and technology transfer.

A PTA is a trading bloc that gives preferential access to certain products from the participating countries through reduced tariffs. PTAs can influence development policies by providing new market opportunities and encouraging regional integration.

The HIPC Initiative is a program to ensure that the poorest countries are not overwhelmed by unmanageable or unsustainable debt burdens. It intersects with development policies by providing debt relief that can free up resources for development spending.

The infant industry argument posits that new industries in developing countries need protection from international competition until they become mature and competitive. Development strategies may temper trade liberalization with protections for burgeoning domestic industries.

A trade deficit occurs when a country's imports exceed its exports. Development policies must address trade deficits to prevent high levels of foreign borrowing and to maintain currency stability.

Comparative advantage refers to the ability of a country to produce a particular good or service at a lower opportunity cost than its trading partners. It affects development policies by encouraging countries to specialize and trade in goods where they have a comparative advantage, leading to efficiency and economic growth.

SAPs are economic policies for developing countries prescribed by the IMF and the World Bank as a condition for receiving loans. They often encourage trade liberalization and have a controversial impact on development, sometimes leading to social unrest.

GVCs describe the full range of activities that firms and workers do to bring a product from its conception to its end use and beyond. Development policies engaging with GVCs can support economic upgrading and integration into global markets.