Third World Debt
Univesiti Utara Malaysia
FACULTY OF INTERNATIONAL STUDIES
International Political Economy
GFPP 3113
Individual Research Paper
Prepared for:
Dr. Christopher Wylde
Prepared by:
Arnold Garibaldi Soewondo
107646
“All the Third World Debt Advanced by the Developed Countries should be Cancelled Immediately”
Introduction
In the late of twentieth century, the worldwide has spread with the political and economic liberalism. There is no single country would be able to survive without being engaged with global economic system. The developing countries are encouraged to liberalize and open their market. A country which isolated from the global economic system would find itself in a difficult circumstance when it seeks to further its national economic development. This trade liberalization found that has widening the gap between rich and poor countries. As economic liberals produced economic growth, this growth encouraged the Third World countries to borrow money and remaining in debt. Many problems have arisen from the Third World debt toward developed countries, such as debt crises that often suffer the South countries. World system theory characterizes with an unequal distribution of global wealth, economic dependence, and political inequality. It is made up of conflicting forces as each group seeks to gain advantage. This paper focused on the Third World debt that has been seen as serious problem to the Third World countries. The paper attempt to place this problem into theoretical perspective, with an emphasis on the arguments posited by structuralist dependency theory, which divided world between the core states or developed states (North) and the developing states (South) as a result of the changing geopolitics of an expanding world-economy.
The Third World Debt
Decades after the Second World War, the world experienced tremendous growth in real incomes. Financial glows became more global in scope, the rapid industrialization and
FACULTY OF INTERNATIONAL STUDIES
International Political Economy
GFPP 3113
Individual Research Paper
Prepared for:
Dr. Christopher Wylde
Prepared by:
Arnold Garibaldi Soewondo
107646
“All the Third World Debt Advanced by the Developed Countries should be Cancelled Immediately”
Introduction
In the late of twentieth century, the worldwide has spread with the political and economic liberalism. There is no single country would be able to survive without being engaged with global economic system. The developing countries are encouraged to liberalize and open their market. A country which isolated from the global economic system would find itself in a difficult circumstance when it seeks to further its national economic development. This trade liberalization found that has widening the gap between rich and poor countries. As economic liberals produced economic growth, this growth encouraged the Third World countries to borrow money and remaining in debt. Many problems have arisen from the Third World debt toward developed countries, such as debt crises that often suffer the South countries. World system theory characterizes with an unequal distribution of global wealth, economic dependence, and political inequality. It is made up of conflicting forces as each group seeks to gain advantage. This paper focused on the Third World debt that has been seen as serious problem to the Third World countries. The paper attempt to place this problem into theoretical perspective, with an emphasis on the arguments posited by structuralist dependency theory, which divided world between the core states or developed states (North) and the developing states (South) as a result of the changing geopolitics of an expanding world-economy.
The Third World Debt
Decades after the Second World War, the world experienced tremendous growth in real incomes. Financial glows became more global in scope, the rapid industrialization and