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What is globalization?
is the development of social and economic relationships stretching worldwide. In current times, we are all influenced by organizations and social networks located thousands of miles away. A key part of the study of globalization is the emergence of a world system-for some purposes, we need to regard the world as forming a single social order.
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What is global inequality?
si the systematic difference in wealth and power between countries.
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What are newly industrialized economies?
is the developing countries that over the past two or three decades have begun to develop a strong industrial base, such as Singapore and Hong kong.
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What is the modernization theory?
is a version of market-oriented development theory that argues that low-income societies develop economically only if they give up their traditional ways and adopt modern economic institutions, technologies, and cultural values that emphasize savings and productive investment.
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What is Neo-liberalism?
is the economic belief that free market forces, achieved by minimizing government restrictions on business, provide the only route to economic growth.
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What is the dependency theory?
is a Marxist theory of economic development arguing that the poverty of low-income countries stems directly from their exploitation by wealthy countries and the multinational corporations that are based in wealthy countries.
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What is the world-systems theory?
is a theory pioneered by immanuel wallerstein, this theory emphasizes the interconnections among countries based on the expansion of a capitalist world economy. The economy is made up of core countries, emiperiphery, and periphery.
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What is the state system theory?
is a developmental theory that argues that appropriate government policies do not interfere with economic development, but rather can play a key role in bringing it about.
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