Newly Industrializing and Less Developed Countries ( post-industrial…
Newly Industrializing and Less Developed Countries
newly industrializing countries
country whose level of economic development ranks it somewhere between the developing and first-world classifications. These countries have moved away from an agriculture-based economy and into a more industrialized, urban economy
Mexico has recently made strides in the early 2000's to become more industrialized.
lacking in terms of its economy, infrastructure and industrial base. The population of a lesser-developed country often has a relatively low standard of living, due to low incomes and abundant poverty.
The congo as well as many central african countries ave very high ates of poverty and low modernizations.
civilizational condition in which economic, political, social and/or cultural changes occur in an extremely condensed manner in respect to both time and space, and in which the dynamic coexistence of mutually disparate historical and social elements leads to the construction and reconstruction
This happened to Russia during collapse of the Soviet Union, because they democratized very quickly.
lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities
laissez faire policies supported by the republican party in the US
Gross National Product
estimate of total value of all the final products and services produced in a given period by the means of production owned by a country's residents.
The USA makes 16.77 trillion dollars in GNP the most out of any country.
Purchasing Power Parity
economic theory that compares different countries' currencies through a market "basket of goods" approach
Comparing English pounds to US dollars rather then converting all currencies into USD.
of the economy is the sector of an economy making direct use of natural resources.
This includes agriculture, forestry, fishing and mining
produces manufactured goods, and the tertiary sector produces services.
energy production is an example of a secondary sector product because it comes from the primary sector extraction of natural resources
industry is the segment of the economy that provides services to its consumers;
this includes a wide range of businesses such as financial institutions, schools and restaurants
the stage of society's development when the service sector generates more wealth than the manufacturing sector of the economy.
USA is considered this becuase the era of industrialization is over .
the use of economic, political, cultural, or other pressures to control or influence other countries, especially former dependencies.
The representative example of European neocolonialism is Françafrique, the "French Africa" constituted by the continued close relationships between France and its former African colonies.
process whereby societies come under or adopt Western culture
Happened to Russia during the reign of Ivan the terrible.
s the notion that resources flow from a "periphery" of poor and underdeveloped states to a "core" of wealthy states, enriching the latter at the expense of the former.
Can be seen throug sweat shop labor i undeveloped countries
is a trade and economic policy which advocates replacing foreign imports with domestic production. ISI is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products.
relying more on domestic oil then importing our energy and oil from elsewhere.
is a trade and economic policy aiming to speed up the industrialization process of a country by exporting goods for which the nation has a comparative advantage.
s a relaxation of government restrictions, usually in such areas of social, political and economic policy.
is a governing system in which, although elections take place, citizens are cut off from knowledge about the activities of those who exercise real power because of the lack of civil liberties.
Singapore is a known country to carry out this form of government
a state whose political or economic system has become so weak that the government is no longer in control.
Afghanistan is an example of a failed state because the Taliban and other extremist groups have more control than the government.