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The organization of societies, economies, and states around the world vary in accordance to the specific practices observed across cultural, social, economic, and political levels. Specifically, economic and political structures influence every other aspect of a nation and its…
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Download file to see previous pages Dependency theory sees the world in the perspective of making poor nations or countries poorer, and enriching those that are already rich and wealthy. In other words, the inequality of countries across the world results in dominance by wealthy nations over poor nations. For example, developing countries like those in Latin America depend on the developed ones for aid among other things. With this, the developed economies deplete African resources in the name of the aids provided. The integration of weak economies is unfair relative to weak and string economies or countries in the world system. Trade agreement between the United States and Latin America would be seen as a means for United States to exploit Latin America.
In the modernization theory, trade agreement between the United States and Latin America would be seen in a whole new perspective. The agreement would be treated as a bid to enhance economic relations between United States and Latin America. The move would be welcome in business and commerce terms relative to international interdependency that is based on the fact that no single nation is self-sufficient. On the other hand, the third way would see this agreement as a trail towards optimizing the welfare of both nations, in the consideration of their differences.
Emerging economies like China are threatening the position of other strong nations in the world. Realism and liberalism would treat China’s rise in a global context. That is to say that China’s mode of interaction with the rest of the world would be evaluated in a global context. Given that China is more oriented towards a socialist political system, its position in realism would be characterized by the concept relations that only benefits China, a scenario that is likely to influence close associates of China like Brazil. On the other hand, liberalism would view China as a rather static nation in reforms, due to its high urge ...Download file to see next pagesRead More
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