Impact of the Global Economic Crises on the Balance of Power
- Created by: Katie Beaumont
- Created on: 29-05-17 14:45
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- IMPACT of the ECONOMIC CRISES on the BALANCE OF POWER
- 2007-2009 CRISES may be seen as PIVOTAL MOMENT in the TRANSFERRING of POWER
- This is from WEST to EAST
- i.e. USA to CHINA
- This is from WEST to EAST
- The WORLD ECONOMY has been recently GENERATED by EMERGING POWERS (e.g. China, India, Brazil & others)
- EMERGING POWERS also PRODUCED MASSIVE QUANTITIES of CHEAP MANUFACTURED GOODS
- This helped to CONCEAL DEEPER STRUCTURAL ECONOMIC DEFECTS I the developed world
- CHINA & other STATES did BETTER ECONOMICALLY in 2007-2009 than the DEVELOPED ECONOMIES
- DUE to CHINA only experienced a MILD DIP in its GROWTH RATE during this period- it is only going through it's INDUSTRIAL REVOLUTION NOW
- EMERGING ECONOMIES TOOK ADVANTAGE of having significant TRADE SURPASSES & were often a MAJOR CREDITOR- combined with BUYING most of the DEBT of the developed world
- 2007-2009 CRISES may be seen as PIVOTAL MOMENT in the TRANSFERRING of POWER
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