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LDC
obstacles facing development of LDC
Question | Answer |
---|---|
Define: Development through self - sufficency | isolating businesses from competition worldwide inorder to destribut equal weath among the people |
Example: self-sufficiency approach | India: businesses were dicouraged from making exports and required govn't permission to sell a product, make a product, or expand production of a product. problems-iefficiency & large Bureaucracy |
Name the 5 steps in Rostow's Development Model | 1. the traitional society 2. the preconditions for takeoff 3. the takeoff 4. the drive to maturity 5. the age of mass consumption |
Describe: the 4 asian dragons | S. korea, Singapore, Taiwan, hong-kong: promoted development by concentrating of producing a handful of manufactured goods. low labor costs enable these countries to sell products inexpensively in MDC |
Name the 2 major international lenders | the world bank, international monetary fund |
Define: structural adjustment programs | b/d LDC couldn't pay back loans they woudl enstate these economic policiesthat encourage international trade: raising taxes, reducing govn't spending, controlling inflation |