A text list is a table of text entries which lists an entry with a text ID, the default text, and its translations into other languages for each text used in the project. At this central location, you can add a new text or further edit an existing text entry.
The centrally stored texts are accessed primarily by visualizations. The text list is the basis for localization, selecting a language, and changes languages in visualizations.

You can specify the texts in Unicode format so that all languages and characters are possible.
You can translate the default texts and add more languages when needed.
Moreover, you can export text lists and then translate the texts outside of the current project.
For more information, see:
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Localization with static text
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Output of dynamic text by a variable
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Managing Languages and Translations
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Using static text in GlobalTextList
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Creating Text in Text Lists and Displaying Dynamically
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Displaying a text dynamically