Bottom Billion

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University of Toronto Scarborough
Political Science
Ingrid L.Stefanovic

Bottom Billion - Study Guide Globalizations effects in economies of developing countries comes from 3 distinct process: - trade is good - the flow of capital - migration of people Primary commodity exports are likely to generate income inequality There is a huge gap between developing countries and the developed world because of trade barriers on both side, also the rich world can get away with a huge wage gap because there are spatial economies of scale. Economies of agglomeration: one companies moves to where none has and slowly attracts others. 1990s Asia took hold of agglomeration of manufactures and services, through low wages combined with economies of scale, neither rich nor the bottom billion could compete. (so the bottom billion missed the boat) This leads to: - a reduction of incentives for countries in the bottom billion to reform, make peace, etc because itll be extremely hard to actually achieve anything with so much competition - people start seeing
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