AP compiles World Economic Forum Style Guide

Jan. 19, 2012
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Advisory

The Associated Press has compiled a style guide of essential words, phrases and definitions to help with spelling and usage of terms for the World Economic Forum Jan. 25-29 in Davos, Switzerland. The guidance includes key financial terms likely to figure in discussions. Some terms are from the AP Stylebook: http://www.apstylebook.com/. Others are common usage in AP news stories. The terms include input from European Regional Editor Niko Price, European Business Editor Phillip Tutt, Geneva Chief Correspondent John Heilprin and Paris Acting Chief of Bureau Angela Charlton, who are all involved in coverage of the Davos forum involving nearly 40 heads of state and 18 of the world's central bankers among 2,600 participants from nearly 100 countries. See a list of terms below sent to AP members and subscribers in a Jan. 19 advisory.

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bailout
Financial aid for a company or nation unable to meet debt obligations.

bondholder
The owner of a loan certificate issued by company or government.

BRICs
Acronym for the economies of Brazil, Russia, India and China as emerging powerhouses.

capital flow
When money from an investment moves from one country to another.

credit crunch
Rising interest rates that make loans less affordable to businesses, governments or individuals.

Davos Man
A term for the global elite -- financiers, politicians, celebrities -- who rub shoulders at the annual World Economic Forum in Davos, Switzerland. Coined to disparage those who put self-interest ahead of their country's interests.

decision-maker, decision-making
Hyphenated in AP usage.

default
Failure to meet financial obligations.

deleverage
To cut long-term corporate debt as a proportion of shareholders' equity.

Doha Round
International talks begun in 2001 in Doha, Qatar, aimed at cutting tariffs and helping poor countries boost trade. Diplomats say the talks are deadlocked.

downturn
A negative trend in economics or business.

earth vs. Earth
Lowercase in most uses: down to earth; earth mother. Capitalized the name of the planet: The astronaut returned to Earth.

ecosystem
A diverse community of animals and plants, and the surrounding chemical and physical elements that provide nutrients and energy to sustain them.

embargo, sanction
A ban or restriction on trade applied to goods entering or leaving a country, often as a tool of foreign policy.

emerging economies
Nations in transition to market economies from state control.

entrepreneur, entrepreneurship
Describing a person who takes on the risk of organizing and managing a business with a profit motive.

euro, eurozone
Currency used by 17 of the 27 countries in the Europe Union, known as the eurozone.

European debt crisis
A main topic of the 2012 World Economic Forum.

European Union
The 27-nation community sharing laws and trade policies. The EU is based in Brussels.

FDI
Foreign direct investment by developed countries in emerging economies. FDI on second reference.

fiscal, monetary
Budgetary matters, such as taxes, debt and spending vs. supply of money.

fondue
Swiss dish in which bread cubes are dipped in melted cheese flavored with wine, or thin slices of meat or vegetables are cooked in simmering broth.

G-20
Hyphenate the abbreviated term for the Group of 20 industrial and emerging-market nations.

gabfest
An informal gathering to discuss weighty issues, sometimes used satirically for the World Economic Forum.

globalization
The worldwide spread of ideas, technology or other commerce.

hedge fund
Private investment partnerships that seek quick profits by placing large sums in currency, bond and stock markets.

International Monetary Fund
Supply of money supported by member nations and used to stabilize international currencies and trade. IMF acceptable on second reference.

Klaus Schwab
Founder and leader of the World Economic Forum. In a preview, he said capitalism in its traditional form is no longer really working. The world's major economies are burdened by debt and have "failed to learn the lessons" from the 2008-2009 financial crisis.

NGO
Nongovernmental organization, usually a nonprofit, humanitarian organization. NGO on second reference.

Next 11
Countries having a high potential of becoming, along with the BRICs, the world's largest economies in the 21st century: Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, South Korea, Turkey and Vietnam.

nonprofit
One word, no hyphen.

Occupy movement
Protests in U.S. cities and elsewhere that grew out of Occupy Wall Street in New York City. The actions focused on perceived claims of corporate excess and economic inequality.

outliers
High achievers who succeed through ability, luck and the willingness to work, rather than inborn genius. Also, people or things outside the statistical norm.

paradigm
A pattern or model held up as a desirable example or concept.

policymaker, policymaking
Spelled as compounds in AP Style.

recession
Decline of economic activity that may be a temporary phenomenon or could continue into a depression.

sovereign debt
Debt issued only by a government.

tax cut
Two words in AP Style.

the 1 percent
Richest segment of Americans. Term popularized by Occupy Wall Street protesters who claim to speak for the other 99 percent.

trade protectionism
High tariffs or other barriers to shield domestic producers from competition by foreign producers.


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