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Unformatted text preview: -Benefits to industrial regions *Creation of markets for manufactured goods *Limits competition by controlling access to markets *Easy access & control over dependent regions-For dependent regions:-Loss of wealth-Obstacles to economic development-suppressed industrial development-skewed development-limited access to technical training/skills-emergence of dual economy in dependent regions-social/political conflict-Negative consequences for industrial regions-Expense of controlling dependent regions-Redistribution of wealth towards elite-Reduction of market incentives for innovation Europe vs. dependent economies-Established both in colonies and in vulnerable economies elsewhere-Increased wealth of Europe at expense of dependent economies-Early 20 th century: European dominates the global economy...
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This note was uploaded on 11/14/2010 for the course HIST 1214 at Virginia Tech.