Globalization

Globalization

1. Sustainable Development

   • Developed countries must set an example for developing countries
     • Developed countries must start the move, to change the system.
       • CHINA
         • VS.
           • United States = Hegemony
             • Excessive spending despite having current account deficit.
             • Third world countries following their footsteps because that's their thought of a "developed country".
               • The entire system follows.
         • China is current account surplus.
           • They still have national savings.
             • They have more investments.
               • They don't need foreign aid unlike ...
                 • US who borrows money from China.