Question

Globalization continues to shift economic activities worldwide.

In 4–6 sentences, explain Immanuel Wallerstein’s core and periphery model of economic development.
In 4–6 sentences, describe one area or type of economic specialization, and explain the relationship between the specialization and its geographical location in terms of Wallerstein’s model, and other factors.

Answer 1

[AI-generated answer — Bot GPT 3.5]

Immanuel Wallerstein's core and periphery model of economic development suggests that the world can be divided into core, semi-periphery, and periphery countries based on their economic activities. Core countries are typically industrialized, wealthy nations that control the global economy and exploit the resources and labor of peripheral countries. Periphery countries, on the other hand, are often less developed, rely on agriculture and extraction industries, and are economically exploited by core countries.

One area or type of economic specialization that can be related to Wallerstein's model is the manufacturing industry in East Asia, particularly in countries like China and South Korea. These countries have specialized in manufacturing electronics, automobiles, and other goods for global markets, often at the behest of core countries. The geographical location of East Asia allows for easy access to global markets and cheap labor, which has contributed to their economic specialization in manufacturing. Additionally, government policies and investments in infrastructure have also played a role in their economic development in this sector.