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Ecomomics evelopment 10th y p todaro and smith chapter 16

Chapter 16
Some Critical
Issues for the
Twenty-First
Century

Copyright © 2009 Pearson Addison-Wesley. All rights reserved.


Critical Issues of the 21st
Century


Global Interdependence



Global Environment




Crisis in Sub-Saharan Africa



Transition in Eastern Europe



Democracy & Global Conflict

Copyright © 2009 Pearson AddisonWesley. All rights reserved.

16-2


Global Interdependence
International Trade:



Flow of manufactured goods and armaments from MDCs to LDCs (70% or world trade)



Flow of natural resources and cash crops from LDCs to MDCs (30% of world trade)

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16-3


Global Interdependence

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16-4


Global Interdependence
• In MDCs, recession reduces the demand for

imports from LDCs
• In LDCs, reduced export earnings lowers the
demand for imports from MDCs, resulting in a
global recession
• Each $1 billion exports in the U.S. supports
25,200 jobs in LDCs
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16-5


Global Interdependence
International Finance:
• Flow of FDI from MNCs into LDCs (the “global factory”)
• Flow of ODA from MDC governments to LDC
governments
• Flow of loans from banks & IMF/World Bank to LDCs
• Flow of debt-service payment from LDCs to MDCs
• Flow of funds due to TOT decline from LDCs to MDCs
• Flow of resident capital from LDCs to MDCs
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16-6


Global Interdependence
Human Capital:



Flow of people from politically, socially, and economically repressed LDCs to MDCs

– Legal immigration: The Brain Drain
– Illegal immigration

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16-7


Global Interdependence


Reduce the debt and debt-service burden



Create new LDC funding: tax resident capital outflow and MNCs



Establish new international institutions to stabilize global economic relations



Reform IMF and World Bank policies

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16-8


Global Environment
The Greenhouse Effect and Global Warming:
• Excessive per capita energy fossil fuel
consumption due to affluence
• Rapid deforestation due to poverty, falling
primary-commodity export prices, and
commercial land development
• Rapid desertification due to soil erosion, land
over-use, and lack of fertilization
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16-9


Global Environment
The Rio Summit’s Agenda 21:
• Alleviate poverty and improve environmental
capital
• Invest in R&D to reduce soil erosion
• Improve family planning through female education
and employment

• Prevent the destruction of the rain forest
• Protect the natural habitats and biodiversity
• Invest in alternative energy to reduce pollution
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16-10


Global Environment

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16-11


Global Environment

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16-12


Energy Consumption Per Capita

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16-13


Crisis in Africa


Decline in the standard of living



Rapid population growth, but slow economic growth



Social and political oppression and human rights violations



HIV-infection and death from AIDS (20 million HIV-positive in 1997 of which 9 million were women)

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16-14


Transition in Eastern Europe


Sharp decline in the GDP



High and rising inflation



Increased poverty: 14 million (4%) in 1988 to 119 million (32%) in 1994



Increased crimes and social injustice



Diversion of funds from LDC development ($100 billion per year)

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Democracy & Global Conflict


Help LDC people remove non-democratic governments and repressive regimes (e.g., Iran, Syria)



Solve international conflict that makes the oppressed resort to violence and terror (Iraq & Afghanistan wars; ArabIsraeli land dispute)



Eradicate poverty and prejudice: one world, one people

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16-16



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