The global economy is an uneven playing field. Evaluate this term with reference to the main economic groups that have developed historically and politically.

By: Liz Haigh
The global economy is an uneven playing field. Evaluate this term with reference to the main economic groups that have developed historically and politically.
The word 'Global Economy' is defined as the 'world-wide exploitation of resources and the world-wide production and marketing of goods and services'. This is broken down into each individual countries economy. A countries economy is 'the amount of money within the country and how it is linked together by such things as business'. However what makes the global economy such an uneven platform is the breakdown of the worlds economies and the types of countries.
The Brant report is the basic way of showing how the world in reality is split into two areas the north and south regions. The north is predominantly first world country. A first world country is one, which comprises mainly of more economically developed countries (MEDC's), where capitalism prevails. Examples of first world countries are Western European, North American or Australian. Australia is the exception of the north /south divide because the line drops just east of Indonesia. Also in the northern precinct of the economy are second world countries. These consist of socialist groups where government and economic control is paramount. Less economically developed countries (LEDC's) and some more economically developed countries are found in this category. Communist country collapses have also enabled countries such as those in the break up of the Soviet Union in 1990 to move towards capitalism and the first world. Today the second world is a decreasing feature with only such countries as China, North Korea, Vietnam and Cuba remaining part of the second world.
The global economy is an uneven playing field. Evaluate this term with reference to the main economic groups that have developed historically and politically.
The word 'Global Economy' is defined as the 'world-wide exploitation of resources and the world-wide production and marketing of goods and services'. This is broken down into each individual countries economy. A countries economy is 'the amount of money within the country and how it is linked together by such things as business'. However what makes the global economy such an uneven platform is the breakdown of the worlds economies and the types of countries.
The Brant report is the basic way of showing how the world in reality is split into two areas the north and south regions. The north is predominantly first world country. A first world country is one, which comprises mainly of more economically developed countries (MEDC's), where capitalism prevails. Examples of first world countries are Western European, North American or Australian. Australia is the exception of the north /south divide because the line drops just east of Indonesia. Also in the northern precinct of the economy are second world countries. These consist of socialist groups where government and economic control is paramount. Less economically developed countries (LEDC's) and some more economically developed countries are found in this category. Communist country collapses have also enabled countries such as those in the break up of the Soviet Union in 1990 to move towards capitalism and the first world. Today the second world is a decreasing feature with only such countries as China, North Korea, Vietnam and Cuba remaining part of the second world.
