3.4

• Which countries are emerging as economic superpowers in the 21st century?

  China, India, and Brazil have experienced rapid economic growth, positioning themselves as major emerging economies. Russia is also reasserting itself as a significant political and economic force. Alongside this, the European Union has expanded to become the world’s largest trading bloc, offering competition to the USA in terms of global economic dominance.
• How has global governance shifted in response to emerging powers?

  The power dynamics in global governance have evolved, especially around international collaboration on climate change. New influential players such as China, France, Canada, and Russia have become more active in negotiations, as shown in the 2015 UN Climate Change Conference where their high participation levels reflected growing commitment to tackling emissions and environmental challenges.
• How does Russia compare to other BRIC countries in economic and political terms?

  Russia’s economy is driven by oil, gas, and arms exports, with a low debt-to-GDP ratio of 14.9%. However, politically it is considered authoritarian under Vladimir Putin, with opposition leaders like Boris Nemtsov having been assassinated. Militarily, it maintains the world’s largest nuclear arsenal and a million-strong active force.
• What factors make China an emerging superpower?

  China has the second-largest economy ($17.89 trillion in 2023), strong manufacturing and export sectors, and foreign currency reserves exceeding $3.24 trillion. Politically, it's a one-party state under the Chinese Communist Party, calling itself a "socialist democracy". It has the world’s largest military by personnel and ranks third in nuclear stockpile. It is also the world’s largest CO₂ emitter and struggles with urban air pollution.
• Why is India considered a rising global influence?

  India, with a $3.57 trillion GDP and a massive population of 1.39 billion, has become a tech and services powerhouse. It is the world’s largest democracy, with elections dating back to 1951. Culturally, it exerts soft power through Bollywood and its diverse traditions. Environmentally, it faces major issues like water scarcity affecting hundreds of millions and is highly vulnerable to climate change.
• What is Wallerstein’s World Systems Theory and what does it say about global inequality?

  Wallerstein's 1974 theory describes the world as divided into core (developed), semi-peripheral, and peripheral (developing) regions. Core nations drive the global economy by importing cheap raw materials from peripheries, processing them, and re-exporting high-value goods. This creates and sustains unequal trading patterns, where developing nations remain dependent and receive little benefit from global trade.
• What does Modernization Theory suggest about development?

  Developed in the 1940s, Modernization Theory posits that for countries to escape poverty, they must undergo institutional reform and embrace capitalism. It was a key part of US strategy during the Cold War, involving the creation of the IMF and World Bank to provide loans and promote economic reform, particularly in countries bordering communist powers like China and the USSR.
• How does Dependency Theory explain ongoing global poverty?

  Dependency Theory argues that poverty in developing nations is maintained by their reliance on developed countries. They export raw materials and import expensive manufactured goods, creating an unequal trade relationship. High tariffs and a lack of industrial capacity prevent value being added, which traps them in low-profit cycles and discourages investment, reinforcing underdevelopment.