L3 UNDERDEVELOPMENT IN THE THIRD WORLDAND THE PHILIPPINE EXP

• What is meant by Third World? poor developing countries
• Give four examples of First World countries. United States Britain France Germany
• What is the term for former colonies of rich, advanced and powerful nations? Third World
• With regards to the underdevelopment of the Third World, how do we characterize colonial rule in these countries? plundering of the economy
• What are the forms of exploitation done by the colonisers to their colonies? system of trade and taxes
• What are the two main problems brought about by transnational corporations to the Third World? Unequal trade Uneven development
• What are the two effects of free trade and foreign investments to a Third World country? Underdevelopment Dependency