Can an Area That Traditionally Has Been a Periphery Area Become a Core Area and What Are Some of the Obstacles to This Transition?
Under the 2008 constitution, largely drafted by the military then approved through a stage-managed referendum, serving military officers also took a quarter of all parliamentary seats. Most observers dismissed the election as a rather irrelevant attempt to disguise continued military dictatorship: modest “liberalization” at best.
Further, the world has moved to a more integrated and globalised economy where there is interrelatedness between nations of the world. Although such globalisation might ideally mean more prosperity for nations based on their increased accessibility and market interaction levels, it has instead acted to increase economic inequalities among societies and nations. In addition, at the global political stage, the powerful countries have amassed more power. Periphery countries are becoming less influential in the political and economic realms. While trying to explain the growing disparities in wealth and power in the global political economy, different scholars have advanced different theories. Of the many theories and approaches, Immanuel Wallerstein’s world-systems analysis has been credited for its detailed analysis of the functioning of the world economy. The theory incorporates different arguments from the existing knowledge in sociology, political science, and economics.This paper will analyse whether the world systems analysis has been able to explain successfully the wealth and power inequalities in the world. Further, it will discuss various criticisms that have been put forward against the approach.
The opportunities accruing from the processes of globalization outmatch the challenges.
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