Economic Colonization and a North-South Polarization Term Paper

Economic Colonization and a North-South Polarization - Term Paper ExampleHowever, the above distinction is found to be absent in the policy statements furnished by orbicular trade and economic bodies like the World Trade Organization and International Monetary Fund. An outline made on the basis of income suggests that the countries settle downing in the South Pole of international trade has per capita income at least less by 50 propagation in comparison to that of the countries pertaining to the North Pole. Further, the north-south polarization debate gained ground from the period of Cold War due to wide differences in the economic, political, and military resource conditions of the certain and developing countries. (Johnston, 2000, p. 558) The modern practice of international trade is contributing to the creation of economic colonies depending on the economic and political disparities of the different nations. This growth of economic colonization reinforces the concept of Nort h-South Polarization. The notion of North-South Polarization earned due importance after the end of the Second World War. It is observed that the countries pertaining to the North Pole were referred to as the number 1 World countries. On the other hand, countries belonging to the South Pole were referred to as the Third World countries. It is however, observed that the notion of the third world countries existed prior to the fall of the Socialist states like Soviet Union in 1980. In the previous period, the concept of third world was used in regards to geo-political ideologies in the realm of global politics. Moreover, the distinction between the North and South Polarization was also found to have relevance to the levels of industrial practice among the world nations.