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In his terminology, the core is the developed, industrialized part of the world, and the periphery is the "underdeveloped", typically raw materials-exporting, poor part of the world; the market being the means by which the core exploits the periphery. Apart from them, Wallerstein defines four temporal features of the world system.
Foreign industries also contribute to resource exploitation, where raw materials are outsourced from developing countries, with the local communities receiving little profit from the exchange. This is often accompanied by negative effects of economic growth around the affected areas such as inequality and pollution [ 3 ]
Developed countries usually import a substantial amount of raw materials from developing countries. Typically, these imported materials are transformed into finished products and might be exported after adding value. Financial trade balance statistics conceal material flow.
Map of countries by exports, 2023. The following article lists different countries and territories by their exports according to data from the World Bank. Included are merchandise exports and service exports. Merchandise exports are goods that are produced in one country and sold to another country. Service exports refer to the cross-border ...
This began an economic system in the Americas, Africa, and Asia to then export the natural materials from their land to Europe. After shipping the materials to Europe, Britain and the other European countries made products with these materials and then sent them back to colonized parts of the Americas, Africa, and Asia.
Businesses in developed countries tend to be more highly automated, have more sophisticated technology and techniques, and have better national infrastructure. For these reasons and sometimes due to economies of scale , they can sometimes out-compete similar businesses in developing countries.
Toxic or hazardous wastes are often imported by developing countries from developed countries. The World Bank Report What a Waste: A Global Review of Solid Waste Management, describes the amount of solid waste produced in a given country. Specifically, countries which produce more solid waste are more economically developed and more ...
Export-oriented industrialization was particularly characteristic of the development of the national economies of the developed East Asian Tigers: Hong Kong, Singapore, South Korea, and Taiwan in the post-World War II period. [1] Export-led growth is an economic strategy used by some developing countries. The strategy seeks to find a niche in ...