"Take on me." ;D
Terms in this set (6)
Global poverty blamed onn rich nations/ World econ. benefits rich but harms poor by making them dep. on rich countries. They sell cheap raw materials and buy expensive manu. goods leading them to debt.
Does socialism to limit gap between rich and poor and increasing industry.
Reaction to this theory LDCs...
Rich nations that take raw mat. from poor countries and channels wealthy to U.S/ europe, australia, and japan.
Poor countries drawn into world econ. by colonial exploition. Support rich countries by giving cheap labor and a large market. EX: Pakistan
Countries that are inbetween. EX: Brazil
$ created by hardwork, new tech., so no one is blocked from development, too much blame on rich that supported econ. like japan, SK, India, ignores cult. factors.