Question 1 · 10 marks · 177 words written
Opening · a definition
Developing economics usually refer to these countries which have a relatively lower Human Development Index and lesser developed industrial base. There is no uniformly agreed definition (eg. US-China disagreement over latter's classification as 'Developing').
Body · points and prose
CHARACTERISTICS
- Low standard of living for majority ↳ lower per capita income ↳ vicious circle trap →
- Rising levels of population and unemployment
- Substantial dependence upon agriculture and primary industries/sector.
- Vulnerability in international relations.
Neo colonialism refers to a State exerting influence/control over another sovereign state through indirect socio-economic, political, cultural and other means.
Neo Colonialism and the Developing World
Ever since World War II, neo colonialism has spread like wildfire among developing economies. From the Cold War Blocs to Banana Republics, it has assumed various dimensions:
- Economic → Dollarization of Economy ↳ Exploiting natural resources and treating as raw material supplier.
- Political → Cheque Book Diplomacy and coups being orchestrated to establish political stooges.
- Environmental → "paying for crimes they did not commit"
- Cultural & Developmental → conditional aids, use of media platforms etc.
Close · no separate close
None written.