lf we Lake Lhe prospecLlve of lnLernaLlonal ÞollLlcal economy wlLh Lhe ºglobal souLh ln a globallzed

world" we can llnk Lhese Lwo ln a few waysŦ We can use Llberallsmţ MercanLlllsmŦ

Mercant|||st perspect|veť
ln Lhe MercanLlllsL perspecLlve Lhe wesLern counLrlesţ or Lhe developed counLrles are comlng up wlLh
pollces and rules LhaL only makes Lhem sLronger and makes Lhem reLaln Lhe power LhaL Lhey haveŦ
CLher Lhan LhaL Lhese counLrles are keen on glvlng loans and ald Lo developlng counLrles buL ln Lhe
process Lhe lnLeresLs on Lhese loans are very heavy whlch make Lhem wealLhlerţ ln Lhe processes of
Lhem becomlng wealLhler Lhe developlng counLrles acLually geL poorer because of Lhe loans and Lhe
lnLeresLs LhaL Lhey have Lo pay backŦ 1hls causes Lhem Lo sLay under Lhe rule of Lhe developed counLrles
and sLops Lhelr growLhŦ
All LhaL menLloned above ls belng enabled Lhrough Lhe lMlţ whlch acLs as a neuLral enLlLy beLween Lhe
developed and developlng counLrles buL as Lhey are backed by Lhe developed counLrles Lhey slde wlLh
Lhemţ Lhe loans are belng glven Lo Lhe developlng counLrles Lhrough Lhe lMl and lL belng wlLh Lhe
developed counLrlesţ Lhey do Lake advanLage of Lhe developlng or Lhlrd world counLrlesŦ ln Lhe fuLure
Lhe same Lhlng wlll go on unLll some exLernal forces can acL upon Lhe developed counLrles ln moldlng
Lhe sLraLegles Lowards Lhe developlng counLrlesŦ
Along wlLh globallzaLlon Lhere ls a vasL lncrease ln Lerrorlsm ln Lhe global souLh or Lhe developlng
counLrlesţ for example ÞaklsLan now has a huge Lerrorlsm problem and Lhls ls because Lhey don'L have
proper securlLyŦ ÞaklsLan and oLher developlng counLrles cannoL malnLaln proper naLlonal securlLy
because of Lhe llmlLed resources Lhey have and Lhe flnanclal problems Lhey are golng LhroughŦ ln Lhe
fuLure lf Lhe flnanclal problems are Laken care of Lhese counLrles should focus on Lhelr naLlonal securlLy
and how Lhey have Lo proLecL Lhe counLry form Lerrorlsm and oLher LhreaLsŦ
L|bera||st perspect|veť
ln Lhe fuLure lf Lhe global souLhţ Lhese counLrles can adopL a llberallsL perspecLlveţ ln whlch Lhe
developed counLrles can come Lo Lhe developlng counLrles so LhaL Lhey can lnvesL and ouLsource Lhelr
producLlon Lo Lhe developlng counLrlesŦ 1hls would beneflL boLh Lhe developed and Lhe developlng
counLrles and would creaLe a relaLlonshlp ldeal Lo Lhe llberallsL perspecLlveŦ 1hey can do so because Lhey
can flnd cheap labor and raLher lenlenL producLlon laws ln Lhe developlng counLrlesŦ
SLrucurallsL perspecLlveť
ln Lhe sLrucLurallsL vlewţ sLrucLural changes are causes of growLh raLher Lhan ouLcomes of a process of
caplLal accumulaLlon and of rlslng per caplLa lncomesŦ Moreoverţ Lhe growLh process may be
puncLuaLed by perlods of dlscreLe shlfLs ln resource allocaLlon (ºcreaLlve desLrucLlon") and growLh
acceleraLlon raLher Lhan belng smooLh LhroughouLŦ SLrucLural changes need noL be auLomaLlcţ Lhey
requlre a sklllŴspeclflc lnfrasLrucLure of new capablllLles whlchţ when esLabllshedţ generaLe new
comparaLlve advanLagesŦ MarkeL fallures may be pervaslve due Lo problems of human caplLal
accumulaLlonţ crlLlcal mass and dlscreLe cholce among alLernaLlve growLh paLhsŦ 1hus ln addlLlon Lo
creaLlng a favorable envlronmenL for buslness and assurlngţ Lhrough macroeconomlc pollcyţ adequaLe
lnvesLmenLţ successful growLh may requlre an adequaLe lndusLrlal and Lechnologlcal pollcyţ parLlcularly
aL nodes of sLrucLural changeŦ

fnn¯f° nnf¯f¾¾f°  ¾n  nn f¯°–f °f –½f¾ @¾°f ° n f°–f€ff   °°¯ °€ ¾° ¾¾f° f¾¾°– –¯fn n°¯n½n f f  ° ¾¯ ° ¾nn ¾¾€–¯f  f°f f ° ¾ff°  n°–nf½n ½fnf f° ¾€¾nfnf°–   .

Sign up to vote on this title
UsefulNot useful