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Business
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Number of pages / Number of words: |
4 / 915 |
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Once the superiority of rich nations was established, it could not be shaken off. This control ensures that all profits in less developed countries are taken by the better developed nations, preventing reinvestment and thus growth.
IMPLICATIONS
While there are many different and conflicting ideas on how developing countries can avoid the negative consequences of such a world system, several of the following practices were adopted at one time or another by such countries:
- Promotion of domestic industry...
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By subsidizing and protecting industries within the periphery nation, these third-world countries can produce their own products rather than simply export raw materials.
- Import limitations. By limiting the importation of both luxury goods and manufactured goods that can be produced within the country, supposedly, the country can avoid having its capital and resources siphoned off...
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