Question

Please use APA style for all aspects of this question. You must cite all course materials in-text; improper or missing citations will receive a zero grade and/or a formal investigation of academic misconduct. You are not allowed to use internet materials, quotations from outside readings or any “cut and paste” learning materials in any of your written answers. Write in your words only and draw on required course materials only.

1. Proponents of globalization like neoliberalists argue their approach to economic development can best lift countries out of poverty. Advocates of alternative theories and approaches like Bejing’s approach to economic development purported by Dambisa Moyo OR sustainable development are critical of neoliberalism. Define ONE alternative approach to economic development and explain ONE way it improves upon neoliberalism. Here, choose Bejing’s approach to economic development purported by Dambisa Moyo in her TED talk, Is China the New Idol for Emerging Economies? (Module 5) OR sustainable development (Module 6). For example, why does Dambisa Moyo think that Bejing’s approach to development is more appealing to poor countries than that of the United States? OR, why do proponents of sustainable development argue it is a superior approach to sustainable and equitable development than neoliberalism? Use specific empirical evidence and examples to demonstrate why the alternative approach is better.

Answer 1

Proponents of Globalization like neoliberalists argue that their approach to Economic development can up lift the country's out of poverty.But their are several opposition views also.

Sustainable development is a commonly discussing topic among various countries. The widly used definition for sustainable development is quoted on Our Common Future ,also known as Brudland Commission Report.It defines Sustainable development is the development that meets the needs of present with out compromising the ability of future generations to meet their own needs.

Neoliberalism is a political approach that favours free market capitalism , deregulation and reduction in government spending. In terms of the environment, neo liberalism has been closely related with the privatisation and commodification of unowned, state owned ,or common property resources such as forests ,water and biodiversity and so on. Beijing's approach to development is more appealing to poor countries than that of United States.This is because of the outbreak of the current global financial crisis,the Washington consenses ,as a general term of neo liberal free market economic thinking has been withering.In the mean time the Chinese economic model has gained wide recognition and praise world wide.

Today the United States and China are the two leading economies of the world.They have extremely different political and economic systems. The United States with private capitalism and China with state capitalism. Over the past 100 years the combination of liberal democracy and private capitalism has helped the United States and western countries to new levels of Economic development. The perception of the westerners is that the whole world desires to adopt private capitalism as the mode of economic growth, liberal democracy and will continue to prioritize political rights over democratic rights.

In contrast with the western ideology the system adopted by China rather than private capitalism they adopted state capitalism, instead of liberal democracy they have deep prioritised democratic system and they also decided to prioritize economic rights over political rights.In the present scenario of world economy the emerging markets put attention on the political and economic view of China.This is because they believe that it is this system that would promise the best and the sudden improvements in the living standards of people in the short period of time.China is a motivating power because of its high living standards and reducing income inequality, providing better health care and education facilities to its citizens.So that United States and other western countries are also looking forward at the China's development strategies.