– There are contemporary proof of economic dependency in the Philippines and Latin American that are observable such as
the great patronization of Pilipino towards the quality of imported products and dependency to reliable and cheaper foreign manufacturer company
, adaptation to foreign culture, local economic …
Which contemporary proofs of Economics dependency in the Philippines and Latin America are observable?
– There are contemporary proof of economic dependency in the Philippines and Latin American that are observable such as
the great patronization of Pilipino towards the quality of imported products and dependency to reliable and cheaper foreign manufacturer company
, adaptation to foreign culture, local economic …
How does globalization affect Latin America?
However, due to globalization, Latin American countries can
access better and cheaper industrial and consumer products compared to those produced at home
, which leads these nations to depend more on exporting energy and primary products in exchange of economic growth, and maintaining their European-style welfare system …
What is dependency theory How can it help to understand the history of Latin America since its independence?
Since the 1960s, dependency theory
seeks to explain the characteristics of dependent development in Latin America
, although it also includes consideration of Asia and Africa. Dependency theory responds to a different economic and social reality in Latin America, Asia, and Africa in comparison to developed countries.
What is dependency theory and the Latin American experience?
Dependency theory argues that
under-development as experienced in Latin America
and elsewhere is the direct result of capital intervention, rather than a condition of “lacking” development or investment.
What is an example of dependency theory?
An example of the dependency theory is that
during the years of 1650 to 1900 Britain and other European nations took over or colonialized other nations
. They used their superior military technology and naval strength at the time to do this.
Why is the dependency theory important?
The Dependency Theory
analyses the internal dynamics of underdeveloped countries and relates their underdevelopment to their positions in the international economic system
. It also examines the relation between the internal and external structures.
What factors make Latin America important to the global economy?
Foreign capital investment
, construction of infrastructure, such as railroads, growth in the labor sector with immigration from abroad, strengthening of institutions, and expansion of education aided industrial growth and economic expansion.
What are the Filipino qualities that would promote globalization?
- High levels of education.
- Export-oriented agricultural sector that has generated more than sufficient foreign exchange.
- Because of the industrial sector growth, the Philippines has one if the highest per capita incomes in Southeast Asia.
What are some issues in Latin America?
| Characteristic Share of respondents | Political instability / institutional weakness 12% | Insecurity, crime and drug trafficking 12% | Poverty and social inequality 10% | Inadequate education 4% |
|---|
How is the dependency theory used today?
In today’s realm, dependency thoughts are
still useful in analyzing the widening inequalities between the poor and rich countries
, or in analysing the divisions within a developed or a developing country context. Our societies are vastly divided, and dependent relations exist within our own social facbric.
What are the weaknesses of dependency theory?
The main weakness of dependency theory lies
in explaining the origin of underdevelopment
. In other words, the relation between underdevelopment and dependency is explained in a circular manner.
Who is considered as the pioneer of dependency theory?
Dependency theory, an approach to understanding economic underdevelopment that emphasizes the putative constraints imposed by the global political and economic order. First proposed in the late 1950s by
the Argentine economist and statesman Raúl Prebisch
, dependency theory gained prominence in the 1960s and ’70s.
What are the major assumptions of dependency theory?
Dependency theorists argue that
existing national and international economic and political systems are the cause of their unjust situations
. They call for systemic change to solve the problems. They want abrupt, non-linear, fundamental change. Rather than endorsing and embracing stability, they call for radical change.
What are the features of dependency theory?
In short, dependency theory
attempts to explain the present underdeveloped state of many nations in the world by examining the patterns of interactions among nations and by arguing that inequality among nations is an intrinsic part of those interactions
.
What are the implications of dependency theory?
Dependency theorists argue that
foreign aid and investment slows economic growth
, perpetuates a dual economy for the elite and the poor, and increases income differences between the poor and the elite.
