Term
| What is the main argument of Shatkin about globalization and its impact on the third world countries? |
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Definition
-Globalization has destroyed the third world and created a fourth world
-Countries are becoming excluded and structurally irrelevant |
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Term
| What are the two main arguments of Shatkin that third world countries or LDCs are not unequal partners in globalization? |
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Definition
-Relative share in global trade is decreasing
-LDC's are excluded from the developed world |
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Term
| What is Foreign Direct Investment (FDI)? How does that impact LCs? |
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Definition
-Foreign corporations relocating for cheap labor and new markets
-Leads to industrializtion on some countries and makes other countries irrelevant |
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Term
| Are there differences in which FDIs are made in LDCs? What are the consequences according to some economists? |
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Definition
Yes, LDC's not receiving FDI are experiencing diminished exports and economic downturn.
-Marginalization of LDC's rendering them irrelevant. |
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Term
| What according to Castells (noted by Shatkin) are possible reactions for fourth world countries for being marginalized from globalization? What is Shatkin’s response? |
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Definition
-criminal economy (from information flow and integration - not exclusion)
-widespread violence (residual conflicts, establishing nationhood, ethnic / religious conflicts)
-ideological/religious fundamentalism (always been prevalent, continuation from before) |
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Term
| What major events have shaped Cambodia into an emerging market in the recent history of 100 years? |
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Definition
-Cold war hotspot
-Socialist rule from 75-89
-Civil War
-Transition from Marxist government to multi-party |
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Term
| Is Cambodia a fourth world, according to Shatkin? Explain. |
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Definition
Yes:
-Low GNP
-Tiny share of world trade
-Irrelevant manufacturing presence |
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Term
| How did globalization impact Cambodia’s Economic reform and reintegration into the global economy, according to Shatkin? |
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Definition
-Decollectivization of Agriculture: Landlessness across farmers, inadequate infrastructure, urbanization.
-Austerity led to decreased government expenditure on infrastructure and social services
-Privatization of Real Estate Market
-Created new market for luxury
-Imports increased 6-fold
-Employment increased; directly and through foreign investment
-Foreign investment increased property valuation |
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Term
| How did globalization impact Cambodia’s investment and trade areas? |
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Definition
-Dependent on primary commodities
-Manufacturing grew - textiles
-Banking industry grew through J.V.'s
-Foreign investment in tourism industry
-Difficulty controlling illegal industries |
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Term
| How did globalization impacted spatial and social transformation in Phnom Penh (capital city of Cambodia)? |
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Definition
-Austerity: increased corruption
-Increased urbanization
-Increased private enterprise = wealth
-Lack of infrastructure allows rich to prosper and poor to deal with the blunt realities of the system |
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