GEOG Study guide - GEOG 208 Study Guide for Midterm~ By...

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GEOG 208 Study Guide for Midterm~ By: Tsun-Yang Wang 1. What factors help explain variation in economic development across the globe? In your opinion what do you think is the most important factor(s). Do you think the pattern of economic development will change in your life? Why or why not? A: Economic Developments variations is definitely caused by many kinds of different factors, including Political systems, Government policies and strategies, Geographical locations, Education, Traditional cultures and believes, Religions, Population…etc. All of the mentioned factors could be some what influential on a nation’s process of economic development. In my own opinion, I would say that Political system as well as policy-making can affect a nation the most. These were suggested by many of the historical documents which indicate the importance of a far-sighted authority. A rightful system is always essential for a country to grow and progress along the way, for such decisions as opening up the market for foreign investments or to close up the market to protect local firms. They are regarded as decisive policies; one great example would be China’s Deng Xiao-Ping opening up China’s door to the world in the late 70s. As a result, China today became a country on a rapid rise, while North Korea (China was the same as North Korea before 1979) became even more doomed and desperate in the international society. In the future, I do think the trend of economic development will change because as countries became more inter- dependent with each other; I could foresee an even greater co-operations between multi-national firms and countries. Competitions will only become bigger, and only those who insist of innovative ideas will survive in tomorrow’s world! 2. What role has the state played in supporting and promoting capitalist economic development over the past 500 years? Some people now think the state’s power is now declining relative to multinational corporations and international financial institutions? What reasons might there be of taking this position? Others argue that the state is still an essential organizing element of the global economy. Discuss what you think is happening using your readings, class lectures, and other material that you think relevant. A: For the past 500 years, state power has always been a gate-keeper to too much capitalist economic acts. State control has been existed long since the last 500 years, acting as a force to regulate the economic market. The state’s role is to benefit from the business or economic activities while maintaining a rightful and protective environment for local firms. That was when the world was still a flat world. Today, as we are becoming like a flat world where big corporations became super big and
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expand globally making it a “multi-national” or inter-continental corporations. Many countries in the world still have state-controls or authority regulations on trade and economic activities but I believe the trend in the future is to be free from state powers
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This note was uploaded on 06/11/2008 for the course GEOG 208 taught by Professor Ellis during the Spring '08 term at University of Washington.

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GEOG Study guide - GEOG 208 Study Guide for Midterm~ By...

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