Complete 8 page APA formatted essay: Economic Colonization and a North-South Polarization.
However, the above distinction is found to be absent in the policy statements furnished by global trade and economic bodies like the World Trade Organization and International Monetary Fund. An analysis made on the basis of income suggests that the countries falling in the South Pole of international trade has per capita income at least less by 50 times in comparison to that of the countries pertaining to the North Pole. Further, the north-south polarization debate gained ground from the period of Cold War due to wide differences in the economic, political, and military resource conditions of the developed and developing countries. (Johnston, 2000, p. 558) The modern practice of international trade is contributing to the creation of economic colonies depending on the economic and political disparities of the different nations. This growth of economic colonization reinforces the concept of North-South Polarization.