The world economic system works to the disadvantage of the periphery countries.

Question

Quizplus · Accepted Answer

The world economic system or global capitalism is designed to benefit the core or developed countries, which have historically dominated global trade and finance. The periphery or developing countries, on the other hand, have been marginalized and exploited by the global economic order, which favors the rich and powerful nations over the poor and weak ones. This has resulted in many periphery countries being trapped in a cycle of poverty, underdevelopment, and dependency. Therefore, it is true that the world economic system works to the disadvantage of the periphery countries.

The World Economic System Works to the Disadvantage of the Periphery