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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.
What is global inequality?
si the systematic difference in wealth and power between countries.
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.
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.
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.
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.
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.
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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