060608 - Final in Smith 120 8:30 am - blue book 6/6/08:...

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Final in Smith 120 8:30 am - blue book 6/6/08: Lecture 29: Now What? Some resemblance to 19 th century system Multipolarity has returned to system, but different because power much more dispersed today than then. (then, multipolarity only in Europe while rest of world was less powerful and much poorer) Countries in EU in relative decline, more action in other parts of the world. “BRIC” countries – brazil, Russia, india, china - Not economic bloc - Large in land mass - Fast growth - Largest share of global ec output - Greater role in international system whether we like it or not Will have a larger us$ gdP than the g6 by 2040 Secrets of the BRIC countries - Liberalization of economy o Socialist/developmentalist (state-run) deregulated in 80s to market economies, privatized industry, cut subsides, people innovated more efficient economies - Lower trade barriers o Joint international system o Pre1980s autarky 80s opened economies to international market foreign investment, export, virtuous circle capital ->export -> capital - Investment in human capital (work force)
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o Education, literacy, math & science skills to be competitive in international economy - Effective government o Relatively low corruption, smaller bureaucracies, investment in infrastructure, sound economic mgmt (except Russia) - Resources o Brazil, Russia o Managed to avoid resource curse by privatizing use of resources so state alone didn’t control. Star: China Enters the World Economy - Most of 20 th century was insular - Last quarter of 20 th century entered world economy, changed everything - Mao’s disastrous policies - Deng Xiaoping’s reforms o Introduced market system socialist but also rich o Decollectivized agric o ^^ foreign investment - GDP increased 76-06: $150 billion to 2.2 trillion, expected to double again over
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This note was uploaded on 08/26/2008 for the course SIS 201 taught by Professor Scottradnitz during the Spring '08 term at University of Washington.

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060608 - Final in Smith 120 8:30 am - blue book 6/6/08:...

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