Growing Disparity Between the Global North and South

The growing disparity 1 Running Head: THE GROWING DIPARITY BETWEEN GLOBAL NORTH AND SOUTH The Growing Disparity Between Global North and South is a Direct Consequence of Trade Malpractice. Anum Mahmood Lahore University of Management Sciences The growing disparity 2 INTRODUCTION: North-South system describes relations among the market economies of the western world (mainly located in the northern hemisphere), and the third world economies of Africa, Asia, and Latin America. As has already been noted, the terms North and South are used to designate the two major economic spheres in the world economy: a wealthy North made up of Economically Developed Countries, (EDCs), and a less wealthy South composed of Less Developed Countries†¦show more content†¦Brazil and Denmark are best examples for this. Brazil, despite having plentitude of mineral resources, diverse topography, mineral wealth, climates and soils remains underdeveloped. Whereas, Denmark, although lacks minerals and energy resources and is small in size has developed its economy to an extent that it is one of the richest countries of Europe. Great area, diversity of relief and availability of mineral resources merely gives potentiality. Perhaps, the most important factors are the human ones; the willingness to work hard and explore and the technological know how are the factors by which these natural resources become active elements in economies. (Mountjoy, 2007) Similarly, Rostow and Harrod-Dommar models implicitly assumed the existence of structural, institutional and attitudinal conditions (e.g. well-integrated commodity and market money, developed transport facilities, a well trained and educated workforce, the motivation to succeed and an efficient bureaucracy) in the underdeveloped or developing countries. In many cases they are lacking, as are complementary factors such as managerial competence, skilled labor, and the ability to plan and administer a wide range of development projects. The structural change analysts are somewhat optimistic that the ‘correct’ mix of economic policies will generate patterns of growth amongst the countries of the South. On the other hand, the analysts of the International constraints are somewhat pessimisti c. TheShow MoreRelatedGlobal North And The Global South1959 Words   |  8 Pagesdifferences between the global north and the global south, the most notable one of these is the disparity in level of wealth between the two. (Oluwafemi, 2012, p.47) The global north, typically has access to food, shelter and education, while many in the global south fail to access these basic needs. (Oluwafemi, 2012, p.47) The categories north and south are fairly divisive with many countries developing towards being a member of the north, it also fails to perfectly fit the north south divide on theRead MoreThe Global North/South Divide1724 Words   |  7 PagesA descriptive essay on the Globla North/South divide. Explores the social, cuptural and economic differences that exist between the regions defined as the global north and the global south. The theory of the Global North and Global South is a new geopolitical perspective. It divides the world into two blocs – the industrialized countrie s of the global North and the poor countries of the South on the global level of analysis. While â€Å"Global South† is sometimes used as a synonym for the more familiarRead MoreGeography Exam Review Essay1411 Words   |  6 Pagespressures and high pressures, and their characteristics? What major pressure belts exist on Earth, and what climates are associated with them? 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