Third World

• Global South and Third World are conceptually the same. They both refer to conditions usually found in developing countries.
• First World: capitalist economies
• Second world: Socialist economies
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  Third world: Those that did not belong to either capitalist or socialist economies
• The term Third World was initially used to refer to the former colonies of European countries
• India and Philippines are Third World countries
• The term Third World was later used to refer to countries that were neither capitalist nor socialist, and were often impoverished and non-industrialized
• Starting in the 1500s, European explorers spread throughout the Americas, Africa, and Asia, claiming lands for Europe
• At one point, the British Empire covered about one-fourth of the world
• With colonialism came the exploitation of both natural and human resources
• The transatlantic slave trade followed a triangular route between Africa, the American and Caribbean colonies, and Europe
• As the slave trade died down in the mid-nineteenth century, the point of colonialism came to be less about human resources and more about controlling land and raw materials to funnel wealth back to the West
• Most colonies lasted until the 1960s and the last British colony, Hong Kong, was finally granted independence in 1997
• Dependency Theory is the condition in which the development of the nation-states of the South contributed to a decline in their independence and an increase in the economic development of the countries of the North

  
• Dependency theory


  • Developed by Hans Singer and Raul Prebisch in the 1950s
  • Has two main sub-theories: the North American Neo-Marxist approach and the Latin America structuralist approach
• Core nations


  More industrialized nations that receive the majority of the world's wealth
• Peripheral nations


  Less developed countries that receive an unequal distribution of the world's wealth
• Structuralist approach


  A less radical theory developed mainly by Latin American scientists, which argues that Latin America's underdevelopment was due to its "excessive" reliance on exports of primary commodities
• Modern World-System


  A model developed by American sociologist Immanuel Wallerstein, which describes high-income nations as the "core" of the world economy, low-income countries as the "periphery", and middle-income countries as the "semi-periphery"
• In Wallerstein's model, the periphery remains economically dependent on the core in several ways, such as having few resources to export, lacking industrial capacity, and accumulating debt
• China is the home of more than 1.4 billion people based on the 2018 population projection of the United Nations
• China is becoming one of the economic super giants of the world
• After the Second World War, Japan was able to adapt its policies to the dictates of the West and consequently incorporated itself into the global economy
• Singapore has become one of the emerging centers of different cultures and turned itself into a tremendous cosmopolitan city-state
• Asia has the largest population of at least two-thirds of the world's inhabitants and comprises one-third of the world's landmass
• In 2016, China was the world's leading exporter of goods valued at $1.99 trillion, followed by the United States with $1.45 trillion
• The European Union is in its mature state of regionalism, and the world has focused on Asia
• Most countries want to collaborate with East Asian countries and the ASEAN members because the economic and political growth in these regions has started to shape up
• The United States strategically takes care of its allies in Asia to maintain and further enhance its supply of raw materials, human technological skills, and even its military force
• Europe keeps its strong relationship with Asian countries to expand its growing business in the field of medical science and research
• What makes Asian nations stronger than ever is the establishment of collaboration and cooperation based on respect, such as the ASEAN paying full respect for the sovereignty and independence of its members through consensus and consultation
• Globalization


  The expansion and intensification of social relations and consciousness across world-time and world-space
• Regionalization


  The growth of social integration within a region and the often-undirected processes of social and economic interaction
• Regionalism


  The regional concentration of economic flows and the process of intergovernmental collaborations between two or more states