Note midterm

Created @April 3, 2023 7:05 PM

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1. Why should we “think global, act local”?

As a student of World Economic Geography, it is important to understand the significance of balancing between a local and
global perspective when it comes to economic advancement. The phrase "think local, act local" suggests that limiting
ourselves to a narrow, local viewpoint can restrict opportunities for growth and development, and we may miss out on global
opportunities.

On the other hand, solely focusing on a global viewpoint and "thinking global, acting global" can lead to losing the unique
features and identity of a local community that make it stand out among the global crowd. It is essential to strike a balance
between these two perspectives to achieve a sustainable and inclusive model of economic growth.
By adopting a "think global, act local" approach, we can have the best of both worlds. It means drawing from the global
economy and its resources, expertise, and networks while keeping in mind the unique characteristics, history, and culture of a
local community. This type of approach is crucial for promoting sustainable, long-term economic growth and ensuring that the
benefits are shared equitably among all members and sectors of the community.
An example of this approach can be seen in the local sourcing movement, where businesses source their inputs and services
locally, but sell their products and services globally through various platforms such as e-commerce. This approach retains the
distinctive local characteristics, while tapping into global markets' potential and networks for growth.

In conclusion, striking a balance between a local and global perspective is vital in economic development. The "think global,
act local" approach allows us to use global resources while taking into account the unique attributes and needs of a local
community, ultimately promoting sustainable economic growth for all.

1. How economic organization and spatial changes affect the changes of demographic, political, cultural, social
and technological?

,...

organizations and spatial changes influence broader demographic, political, cultural, social, and technological changes.
Changes in demographics are often driven by the shifting economic landscape, with people moving from rural areas to cities
in search of better employment opportunities and higher wages. Additionally, access to education and training opportunities,
often found in urban centers, draw people to move to the city. These demographic changes can have profound impacts on
political, cultural, and social aspects of a region, as well as technological developments.

Political changes can be influenced by the economic organization of a society. Governments may adjust policies to attract
investments or protect labor rights, and environmental policies may be created in response to economic demands. For
example, policies to reduce carbon emissions may be implemented to meet global climate goals, while labor policies may be
adjusted to ensure fair wages and safe working conditions.
Cultural changes can result from a variety of economic and social factors. Western cultural values, such as individualism and
entrepreneurship, may spread globally in connection with economic growth and globalization. Online shopping trends, such
as those seen with companies like Tiki, Shopee, and Lazada, also reflect changing cultural practices in response to
globalization and technological innovations.

Social changes, driven by broader economic and technological changes, also have a significant impact on the economy.
Greater reliance on the internet in both working and daily life, for example, has led to the development of new industries and
platforms that enable remote work and online interactions.

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 Finally, technological changes can play a key role in shaping economic development and driving innovation. New
technologies can transform industries and facilitate greater connectivity and innovation, leading to the adoption of tech in any
type of industrial firm. For example, advances in financial technology have enabled more efficient banking such as transfer
money systems.

Overall, studying the interplay between economic organization, spatial changes, and broader demographic, political, cultural,
social, and technological changes is crucial for understanding the complex and dynamic nature of the global economy.

1. Why do women become more important in developing countries?

➢ Responsible for caring children: Well–educated children → Become good people → Good family → Good society.

➢ In working, they know the trends and easier to catch the new idea because of the natural physical characteristics.

Women are becoming increasingly important in many developing countries for various reasons.

One of the reasons why women are becoming more important is their role in caring for children. Educated children can
become good and responsible members of society in the future, which can ultimately lead to a better community. Women play
a vital role in nurturing and molding the younger generation, which can have a significant impact on future development.

Moreover, women are becoming more important because of their growing participation in the workforce. Due to their natural
physical characteristics and tendency to be more intuitive, women are often better able to detect emerging trends and more
adept at catching up with new ideas in the workforce. Additionally, their increased participation in the labor force can help to
boost the economy and improve living standards.

Another significant reason why women are important is that gender equality and the empowerment of women have been
proven to be essential in achieving overall sustainable economic growth. Enabling women to participate on an equal footing
with men in education, work, and leadership can lead to increased productivity, innovative industries, and more resilient
communities.

Overall, understanding the changing roles and importance of women in developing countries is crucial in achieving
sustainable economic development. By recognising and harnessing the potential of women to lead and contribute to a society
and economy, we can create more inclusive, just, and prosperous communities.

1. What are the roles of women in the development process?

Women play a crucial role in promoting economic growth and contributing to sustainable development.

Firstly, women are increasingly participating in the workforce, allowing them to play a more significant role in contributing to
household and community incomes. As more women earn an income, they are able to provide better quality healthcare,
education, and housing for their families, which can lead to higher living standards in the community. By joining the workforce,
women also break down barriers between genders and can prove themselves as capable and skilled workers.

Similarly, women play a vital role in taking care of their families, especially in educating their children. Women often have a
nurturing and compassionate approach when it comes to child-rearing, and their role in educating children results in a more
nurturing and emotionally intelligent society. Educated children often form the basis of stronger and healthier families, and this
promotes sustainable development.

In the past, women were relegated to traditional roles of homemaker and caregiver, with limited opportunities for education
and employment. However, today, women continue to break barriers in various fields and play important leadership roles in
international development. For example, inspiring women like Hillary Clinton, Mary Barra, and Sheryl Sandberg have made
significant contributions serving as role models to many women all over the world.

Overall, women play a critical role in the development process through their contributions to the economy and in nurturing
their families. It is important to empower and educate women to enable them to play a more significant role in sustainable
development initiatives locally and globally.

1. Why do developing countries easily fall into debt trap? Why some countries cannot pay their debt?

Several factors can contribute to this issue.

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 Firstly, inefficient debt management policies and strategies, coupled with ineffective taxation, can lead to low government
revenues, resulting in the government borrowing more money than it can pay back. Additionally, if the borrowed money is
spent on the wrong projects, the return on investment may not be enough to cover the cost of the loan.

Secondly, corruption is another significant factor contributing to the debt trap. Corruption often results in the mismanagement
of funds, embezzlement, and the promotion of inefficient projects, all of which contribute to the rise of debt levels.

Thirdly, natural disasters and global pandemics can have devastating economic consequences, which can affect the ability of
a country to repay its debts. In such situations, emergency funds are often required to rebuild infrastructure and support the
affected population, which can add to the existing debt burden.

Furthermore, political instability, like the examples of countries like Argentina (in 2014 and 2019) and Ukraine (in 2015), can
contribute to the accumulation of debt. Political instability often causes economic instability, investment uncertainty, and a lack
of foreign investment within the countries.

Finally, currency fluctuations and changes in the monetary system can also make it difficult for countries to repay their debts.
The value of goods and services sold may change due to the changes in currency valuations, leading to a decrease in the
amount received by a country for the same amount of goods and services.

Overall, understanding the reasons behind the debt trap is essential to promote sustainable economic development and
reduce the likelihood of developing countries falling into a debt trap. Improved governance, efficient debt management
policies, and strategic investments can help to address this issue.

1. What happens if the poor countries cannot return money to the dominant countries?

Failure to repay the loans can have significant impacts on the economy of the borrowing country, as well as its relationship
with the dominant countries.

One possible outcome is that dominant countries may graciously forgive or cancel the debt of borrowing countries. In this
scenario, there may not be any further action required by the borrowing country. However, this may come at the cost of the
borrowing country having to follow the strategic and political interests of the creditor country. This could come in the form of
agreements to open up the market, accept dominant countries' products, and change local policies to align with their strategic
interests.

Another possible outcome is debt restructuring. This involves negotiating a new repayment schedule with the creditor country.
The borrowing country may request that the repayment period is extended or decreased in order to make payments more
manageable. Alternatively, they may request that the local currency is depreciated to help reduce the value of the loan,
making it a bit more manageable to pay back. This approach could give the borrowing country more room to maneuver,
although it usually comes with specific conditions for the restructuring, such as stringent economic or political reforms.

However, failure to repay the loan can ultimately lead to economic sanctions, or legal actions, which can have severe
repercussions for the borrowing country's economy and future economic growth. Furthermore, this could also lead to poorer
economic relationships between the borrowing and dominant countries, which could result in a lack of investment or other
financial assistance in the future.

In conclusion, repayment of debts is crucial to maintain a healthy economy and productive relationships between countries. It
is therefore essential to implement effective debt management policies to minimize the risk of economic consequences for the
borrowing country. This will help to build stronger economic relationships between borrowing countries and dominant
countries, contributing to sustainable economic development.

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 Why don’t we use “ growth” instead of “ develop” for country

the terms "growth" and "development" are often used interchangeably, but in the context of countries, there are significant
differences between these two terms.

Growth typically refers to an increase in a country's output, usually measured in terms of gross domestic product (GDP). It
represents the expansion of the economy over time and is often used as a marker for economic prosperity. It is more of a
quantitative measure, depicting the overall economic performance of a country.

Development, on the other hand, is a more holistic term that encompasses not only economic growth but also social and
human factors. Development highlights the improvement of people's quality of life, including access to healthcare, education,
and overall well-being. It takes into consideration factors like the distribution of income, gender equality, and the preservation
of the environment. Unlike growth, development is more qualitative, highlighting the progress and overall transformation of a
country beyond just economic output.

Therefore, when we talk about a country's growth, we are solely focusing on its economic performance, while development is
a much wider concept that encompasses economic, social, political, and environmental aspects. It is essential to understand
that a country can experience growth without developing in other aspects.

In conclusion, while growth and development are related, they highlight various aspects of a country's progress, and it is
necessary to consider both when assessing the overall development of a country. Therefore, it is vital to use the term
"development" to capture the wider aspects of human and social welfare progress rather than just focusing on economic
growth.

Why develop coutries can control HIV/AIDS?

As a student of World Economic Geography, developed countries have been able to control HIV/AIDS due to a combination of
factors.

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 Firstly, developed countries have strong healthcare systems and institutions that can adequately cater to the needs of
HIV/AIDS patients. Their healthcare systems prioritize early detection, treatment, and care services, which can help to slow
the spread of the virus. Through regular testing and effective treatment systems, HIV-positive individuals can reduce the
amount of virus in their blood, making it less likely to transmit the virus to other people.

Secondly, developed countries have sufficient resources to aggressively research and invest in HIV/AIDS treatment, care,
and prevention. They have made significant investments in developing preventive measures like vaccines, pre-exposure
prophylaxis (PrEP), and post-exposure prophylaxis (PEP).

Thirdly, developed countries have implemented comprehensive prevention measures, including public awareness campaigns
and sexual education programs, which help to promote safe behaviors, reduce stigma, and ensure people have access to
information about the risks and how to prevent HIV transmission.

Fourthly, developed countries prioritize the human rights and dignity of people living with HIV/AIDS through the
implementation of non-discriminatory policies and guidelines. This has helped to reduce the levels of stigma and
discrimination in the society, making it easier for people willing to get tested and access treatment without fear of being
ostracized.

Lastly, developed countries have strong political leadership that supports prevention, treatment, care, and advocacy,
promoting the expansion of accessible HIV services across the population.

In conclusion, the control of HIV/AIDS in developed countries is an admirable outcome of their strong healthcare systems,
comprehensive prevention measures, sufficient research, progressive policies, strong political leadership, and the
implementation of effective, non-discriminatory strategies. These countries can serve as models for developing nations and
drive informed policymakers to tackle the epidemic head-on, work together to share resources, minimize the spread of the
virus, and reduce stigma associated with HIV/AIDS.

Plz explain why agglomeration (sự tích tụ) cost will increase that not
support well to the firms. Firms then want to move to another location for investment?

agglomeration refers to the spatial concentration of firms and economic activity in a specific area or region. Agglomeration
can have significant benefits, including access to inputs and resources, proximity to customers and markets, sharing of
knowledge and information, and more extensive employment opportunities. However, agglomeration can also result in costs
that are not supportive of firms leading to them relocating to another location:

1. High land and rental costs: As more firms cluster in a particular area, demand for land and commercial space increases,
leading to higher rental and land costs. This can make it difficult for small firms or new entrants to compete, leading them
to consider relocating to cheaper locations.

2. Congestion and transportation costs: As the number of firms in an area increases, traffic congestion and transportation
costs can increase substantially, leading to costs that are not supportive of firms. These additional costs of transportation
add to the firms total production costs and make it more cost-effective for firms to relocate closer to their suppliers and
customers.

3. Labor costs: Attracted by the economic opportunities in the area, the cost of labor can increase due to labor demand
exceeding supply. This results in increased labor costs, which can be challenging for firms to maintain their
competitiveness, especially for labor-intensive industries.

4. Environmental tax and other regulations: In clustered regions, there can be more stringent regulations due to
environmental and other social costs like pollution, congestion, and increased energy consumption due to the
concentration of industries in the region. Such regulations can lead to increased compliance costs, which may not be
supportive of firms and encourage firms to relocate to other locations.

5. Limited availability of resources: Due to high density, the concentration of firms in the region can cause competition for
resources like water, energy, and raw materials. This increases the cost of production, which may not be supportive of
firms willing to relocate to other locations where resources are readily available.

In conclusion, agglomeration costs can cause firms to consider relocating to other locations that may offer a more conducive
operational environment at a lower cost. Policymakers need to ensure that the advantages of clustering outweigh the costs

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 for firms and provide a favorable environment for businesses through better infrastructure, skilled labor, technology
development, and non-restrictive policies.

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