Chapter 3 Lesson 1: Global Divides: North And South Part 2 Flashcards
According to criteria used by the UN Economic and Social Council, ______ countries currently comprise the least developed countries (LDCs) of the Global South
49
49 countries have gross incomes (GNI) per capita of under ____ per year
$900
The south frequently rely on _____ in their economic changes
Barter
The south’s overwhelmingly rural populations depend on ____ for sustinence
Agriculture
Low-income countries are not significant participants in the _____
Global market
The south’s meager exports are largely confined to inexpensive ______
Primary products
Examples of inexpensive primary products
Cocoa, coffee, tea, minerals, hides, timber
Since the south is a subsistence economy, and change is dim, most have been bypassed by _____ and ignored by _____
Direct foreign investment, foreign aid donors
________ hampers the economic development in Global South countries
Geographic location
______ developing countries that lack navigable rivers/efficient road and rail networks are highly disadvantaged due to the expenses they face in accessing world markets
Landlocked
Some small island developing states are burdened with ______, largely due to remoteness from major global markets
High transportation costs
Liberal economic development theories of modernization emerged in the ______
Early post-world war 2 era
In the liberal economic development theories of modernization, they argued that major barriers to development were posed by the Global South countries’ own _____
Internal characteristics
To overcome barriers, theorists recommended that wealthy countries supply _____ of development
Missing components (investment capital through foreign aid/private foreign direct investment)
Once sufficient capital was accumulated to promote growth, theorists predicted that its benefits would _____ to broad segments of society
Trickle down
Who made the book The Stages of Economic Growth (1960)
Walt R. Rostow
Walt R. Rostow predicted that traditional societies beginning the path of development would inevitably pass through various stages by means of the _____ and would eventually take off to become similar to the ______ societies of the capitalist north
Free market, mass consumption
Development is not a linear process that all societies uniformly follow
External factors
Internal factors theory name
Classical economic development theory’
External factors theory name
Dependency Theory
In the Dependency Theory, the structure of the capitalist world economy is based on a ______ between a dominant core and a subordinate periphery
Division of labor
As a result of ____, the global south countries have been forced into an economic role whereby they export raw materials and import finished goods
Colonialism
In the dependency theory, it maintains that global inequalities cannot be reduced so long as developing countries continue to specialize in _____, where there is a lot of competition
Primary products
In dependency theory, once cultural penetration occurs, locals who embrace foreign values may gain _____
Economically
The dependency theory cannot easily explain the emergence of many people called _____
Newly industrialized countries (NICs)
Members of global south that have exported manufactured goods to the global north
Newly industrialized countries (NICs)
Describes the industrialization of peripheral areas in a system otherwise dominated by Global North
Dependent development
The term suggest the possibility of either growing or declining prosperity, but not outside the confines of a continuing dominance-dependence relationship between the North and South
Dependent development
