Unequal flows of ideas

• Overview:

  • HICs dictate ideas of how countries should be run and how trade should be carried out
  • more money = more power
• Benefits:

  • HICs introduce deregulation to LIC and NEE > decrease state ownership > lower prices from competitive rates
  • Free trade created by HICs increase due to deregulation > thriving global markets and less conflicts
  • educate LIC on how to create econ growth or remove social injustice
• Problems:

  • deregulation happened too fast > some counties can't keep up so not effective
  • privatisation increase growth of large companies > increase profit > LICs not growing their economy but instead funding company
  • LICs may feel forced to keep up with ideas of HICs even if not beneficial for them
  • dereg > relax soc and env laws > social injustice and env damage
  • multiculturalism and interdependency may be disputed > some view interdependent county as a threat to nation's sovereignty