POL SCI 143A Lecture Notes - Lecture 19: 1997 Asian Financial Crisis, Import Substitution Industrialization, Dependency Theory
14 Nov 2017
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Document Summary
In the 1960s, many new nations were created, especially in africa by the 2nd wave of decolonization. New nations do not inexorably develop into modern political systems. Responded to need for political correlates with economic developmentalism. 3 types of regime corresponds to 3 stages of development. Primary products exports, import substitution, import substitution and deepening. East asian nics lack resources, so import substitution not realistic: didn"t have domestic markets. In time, product a becomes cheaper, with lower profit margin: japan innovates and produces product a. 2: to cut costs, japan gives production right to korean firm, japan innovates higher-value product b. Since asian financial crisis (1997-8), china has become the end station in many of these networks, while also climbing value-added ladder. Nearly have the size of ca, twice the population. Russians lost, first time asian country defeated a western one. As agreed in potsdam, ussr joins war against japan, advances through n. korea, sets up dprk regime.
