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THE GLOBAL SOUTH
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The Global South Who is the GS? Global Institutions & the GS Development Hurdles GS Economic Development Tactics
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5 CATEGORIES OF GS COUNTRIES Who is the Global South?
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5 Categories of GS Countries 1. Emerging Markets Who are they? Who are they? Growth Greater % of people =middle class (>$10/day) http://www.economist.com/world/international/displaystory.cf m?story_id=15172941
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5 Categories of GS Countries 2. Countries in Transition (CITs)Countries in Transition Central and Eastern European (East bloc Soviet satellites) Former Soviet Republics (FSRs) Growth rates differ
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5 Categories of GS Countries 3. Quasi-states Not self-sufficient 138 of 194 states= 71% are quasi-states http://geocurrents.info/economic-geography/a- global-northsouth-division-in-the-demic-framework
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5 Categories of GS Countries 4. Least Developed Countries (LLDCs)Least Developed Countries (LLDCs) US (GDP per capita=ranks 10th) at ~$46,500 Average GDP per capita of LLDCs at $750 Burundi, Congo, Somalia at $200 GDP per capital http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28nominal%29_per_capita 5. Heavily Indebted Poor Countries (HIPCs) 40 countries, with 29 of those located in sub-Saharan AfricaAfrica Debt relief- HIPCs qualify 36 accepted full or partial relief ~$72 B Reliance on single cash crops Cotton accounts for 46% of Mali’s exports Cotton
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Global Institutions & the GS
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MNCs IGOs IMF WB GATT WTO OECD OECD G8 now G20G20 NGOs Representation by GS Representation on behalf of GS
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Development Hurdles
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Colonization; Neocolonialism Primary v. manufactured goods Price volatility Lack of national unity Accrued debts in 1960s and 1970s Lack autonomy over debt management YearBillion People% Extreme Poverty <$1.25/day 19811.94 BP52% 20081.29 BP22% 20111.1 BP15% http://economy.money.cnn.com/2012/03/01/650-million-escape-extreme-poverty-thanks-china/http://economy.money.cnn.com/2012/03/01/650-million-escape-extreme-poverty-thanks-china/ ; http://www.un.org/News/Press/docs/2011/gaef3313.doc.htmhttp://www.un.org/News/Press/docs/2011/gaef3313.doc.htm
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Development Hurdles Promoting sustainable development Sustainable development expectations Currency instability Market isolation; lack of market integration Need more trade liberalization Political stability Infrastructure & institutions Gender equality Corruption Economic sanctions
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Development Hurdles Reliance on GN Foreign Aid Technology FDI Employment Remittances China, India, Mexico, Philippines Conflicting interests with GN Self-interested actors
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Development Hurdles Income Inequality Development income equality More developed greater equality Less developed lesser equality Map on next slide Stark exception is US Brazil: 10% control 51% of wealth Mexico & Argentina: 10% control 42% of wealth http://en.mercopress.com/2010/03/27/gap-between-rich-and-poor-in-latinamerica-is-largest-in-the-world-says-un http://en.mercopress.com/2010/03/27/gap-between-rich-and-poor-in-latinamerica-is-largest-in-the-world-says-un
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Income Inequality http://en.wikipedia.org/wiki/File:Gini_Coefficient_World_CIA_Report_2009.png
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Development Hurdles Income Inequality (cont.) Lower income inequality = higher growth rates Lower income inequality = higher growth rates Consequences of income inequality Fewer people with resource access Economic opportunities tied to political stability More susceptible to corruption Limited tax base to support government http://www.worldbank.org/depweb/english/beyond/global/chapter5.html
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INTERNAL & EXTERNAL POLICY STRATEGIES GS Development Tactics
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Internal Policy Strategies Import substitution Nationalization of industries Establishing cartels Protectionism
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GS Development Tactics External Policy Strategies Regional IGOs (ASEAN, Mercosur, SADC, SAARC, etc) International IGOs (Group of 77 {132}, NAM, UNCTAD, etc) International pressure Monetary reforms Trade reforms Development Economic sovereignty Economic aid
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Recap
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The Global South Who is the GS? Global Institutions & the GS Development Hurdles GS Economic Development Tactics
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