Earth is divided into two hemispheres, north(rich)&south(poor), at the equator.
The division in power and wealth comprising the global north and globalsouth
Poses both moral and security problems.
The rules governing international politics today were constructed in the
1648 peace of Westphalia following Europe's thirty years' war.
The powerful did not design a global system for eq
1. The South America History
(1) Indians : The pioneer of South America.
The land ownership and feudal exploitation, the economic development was slow
British and Americans broke into South America, they set the countries as their places of raw material resources, goods dumping and capital output.
Global Imbalances :
The global imbalances refers to the large current account deficits of developed economies such as the United States and the large surpluses of developing economies such as China and oil rich economies of the Middle East and Russia.
Causes of the Global Imbalances :
- Events in the United States : Saving-Investment Imbalances
- Events Outside the US :
Inadequate In
2. Conventional Wisdom And The Crisis
Why it is that Fiscal policy is back in fashion.
1. One argument suggests that as Monetary and credit policy reached its limit policymakers had no other choice but to rely on fiscal policy more heavily.
2. The other argument is that as the recession across countries was expected to last long, fiscal stimulus would have enough time to yield beneficial i
Corruption is an important negative factor in economic development in many states. Corruption centers on the government as the central actor in economic development, especially in its international aspects. Through foreign policy, the government mediates the national economy’s relationship to the world economy.
Corruption is by no means limited to the globalSouth. Bur for several reasons, c