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Underdeveloped countries don't have the productive capacities necessary to take advantage of increasing international trade.
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What is global development?
Global development is defined as progress that is made on an international scale. This is why countries are classified as developed, developing and underdeveloped which is a concept of global development.
What is the effect that globalization has had on the majority of the world's underdeveloped countries?
Globalization has had a mixed impact on underdeveloped countries. On one hand, it has facilitated access to international markets, technology, and investment, potentially boosting economic growth and development. On the other hand, it can exacerbate inequalities, leading to exploitation of resources and labor, and making local economies vulnerable to global fluctuations. Additionally, cultural homogenization may threaten local traditions and identities.
Why are the majority of the worlds countries left or the margins of globalization?
The majority of the world's countries are left on the margins of globalization due to the lack of infrastructure and wealth. They are unable to compete in the global marketplace.
What helped make Europe a global economic power?
Europe became a global economic superpower by exploiting the resources of its colonies. Mercantilism was an economic system by which European countries benefited economically from their colonies.
Is Nordic Europe considered underdeveloped?
No, Nordic Europe is not considered underdeveloped. Countries in this region, such as Norway, Sweden, Finland, Denmark, and Iceland, are highly developed with high standards of living, education, healthcare, and infrastructure. They consistently rank well in various global development indices.
Why are the majority of the world's countries left on the margins of globalization?
Many factors contribute to countries being left on the margins of globalization, including lack of infrastructure, political instability, corruption, limited access to technology and education, and economic disparities. These countries may struggle to keep up with the pace of global integration, hindering their ability to benefit from international trade and investment.
What are the different between modernization theory and dependency theory?
Modernization theory focuses on how underdeveloped countries can develop and advance by adopting Western practices and technology. On the other hand, dependency theory argues that underdeveloped countries are exploited by more powerful nations, leading to their underdevelopment. Dependency theory emphasizes the negative impact of global economic structures on developing countries, while modernization theory focuses on internal factors for development.
What is peripheral country?
countries that are not developed.
What is true of the majority of the world's countries today?
They are left on the margins of globalization.
People in how many countries make up the global market?
Almost every country in the world participates in the global market to some extent. There are 195 countries in the world, and the majority of them are engaged in international trade and commerce with others.
Why are the majority of the worlds countries left on the margins of globalization?
Many countries are left on the margins of globalization due to factors such as weak infrastructure, inadequate policies, political instability, lack of access to capital and technology, and limited education and skills. These barriers prevent them from fully participating in the global economy and taking advantage of the benefits of globalization, leading to unequal development and widening disparities between nations.
As previously underdeveloped nations begin to compete in the global market, which of the following has occurred?
increase in energy usage, causing higher prices
