Question

Explain the world's system theory in emerging economy in two simple and understandable sentences

Answer 1

World-systems theory sees the global economy as one connected system split into wealthy "core" countries that control finance and high-value production, poorer "peripheral" countries that supply raw materials and cheap labor, and a middle "semi-periphery" with mixed features. Emerging economies usually sit in the semi-periphery: they grow by industrializing and attracting investment, gaining influence, but remain partly dependent on core countries for technology, capital, and markets.