1/171
Looks like no tags are added yet.
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No study sessions yet.
Globalization
Process of increasing interconnectedness between world nations in the economic, social, and political camps through great advancements in technology
-A result of development in technology (allowed for easier connections around the world)
-Faster exchange of ideas, information, research, and increased profitability for companies
-Led to the growth of international trade, restructuring of economies through multinational companies, and higher exchange of values and ideas
Economic Globalization
Characteristics of -------------------------:
-Economic networks that are becoming more interconnected
Worldwide markets
-Economic actors that are unconstrained by political borders
-Reduction in state control over economies
-Deepened Cross-National connections among workers, goods, and capital
-Spread of Ideas, technology, and information across international borders
-Spread of jobs across international borders
Tariffs
Fees/taxes imposed on importing goods from other countries and makes them more expensive
-Usually aimed to protect and boost domestic industry and make certain products more difficult to consume
-High meant to increase consumer prices and benefit domestic industries over foreign goods
-Low meant to decrease consumer prices but can affect domestic industry negatively
Economic Liberalization
Refers to the process of removing government intervention in trade, investment, and other movements of capital; When a state reduces its role in the economy and embraces free market mechanisms
-Often eliminate subsidies and tariffs
-Privatize government-owned industries
-Open the economy to foreign direct investment
-Part of the Neoliberalism ideology (Modern Capitalism)
Nongovernmental Organizations (NGO)
A non-profit group outside government control that usually focuses on social or political issues
-Globalization has made it easier for international civil society groups to form and grow
-Technology is a big tool for these groups; Allows them to increase public awareness, organize supporters, and raise funds
Market
Consists of places for buyers and sellers, and can be specific
Financial, commodities, food, etc
-Dominate the economic sphere and may dictate many rules of the global economic landscape
International Monetary Fund (IMF)
Works to foster global monetary cooperation and the stability of the international monetary system
-189 members (UK, Russia, China, Mexico, Nigeria, Iran)
The World Bank
Provides financial and technical assistance for developing countries to reduce poverty and support economic development.
-189 members (UK, Russia, China, Mexico, Nigeria, Iran)
The World Trade Organization (WTO)
Helps develop rules of trade between nations with the goal of ensuring that trade flows freely and smoothly
-164 members (UK, Russia, China, Mexico, Nigeria)
+ Reasons Why Countries Join International Economic Organizations
-To increase access to global trade (WTO for Russia and China)
-Acceptance into the international community
-Gain easier access to markets
-To grow their economy/grow their per capita GDP
Influences
How International Economic Organization Membership __________ Economic Policies:
-Promotes economic liberalization policies
-Requires policy changes to be admitted (some countries must make changes to have membership)
-Requires policy changes to receive financial assistance
Multinational Corporations/companies (MNCs)
Consists of companies that operate in multiple countries and generally have a decentralized structure; A corporation that has facilities and assets in at least one country other than its home country
-Several controversies regarding this structure
-Establish operations centers in different countries (usually to increase their profits, such as cheaper labor, more access to raw materials, and technology that is exclusive to other nations
-Increasingly dominate global markets
challenges
MNCs pose _________ to (and sometimes conflict with)
domestic economic policies regarding labor, the environment, land rights, taxation, and the budget
-Labor and pay
-Environmental damage
-Land rights
-Taxation
-Inequality amongst individuals
Neoliberalism
Seeks to transfer the control of economic factors from the public sector to the private sector by reducing government involvement in the economy and promoting free market capitalism
Conflicts within states
------------ due to Globalism and Neo-liberalism :
Increased demands being placed on the government by civil society groups
-Protests by students and disenfranchised groups
-Arrests of protestors and imposition of social media restrictions
-Empowerment of once-marginal, nationalist, and populist groups that blame the government for changes in culture and economic conditions (rising trends across the globe)
Privatization
Refers to the process of transferring state-owned enterprises to private owners.
-Government-owned industry becomes privately owned
-This policy is usually adopted to increase efficiency and cut government spending
-Driven by the belief that free market forces are more efficient at growing the economy than government interests
-Some majorities (even in the West), believe that some interests like school, health care, and prisons should be managed by the state
Nationalization
Refers to the process of transferring ownership from a private organization to a government
-This policy is usually adopted to increase social welfare, protect national interests, and regulate the economy
-Private-owned industry becomes government-owned
Global Market Forces
Reasons why Governments Respond to ____________________:
-Improve domestic economic conditions
-Respond to domestic demands
-Control or influence domestic political debate or maintain or increase their own power
-Extend national influence regionally and internationally
China
Policies Regarding Private Capital and Industry in ___________:
-Special Economic Zones (SEZs) along the coast of _________
-Allows private businesses (even foreign ones) to come and establish branches or Headquarters in these areas.
-Allows for the least private control of natural resources (within the 6-course countries)
-A country with the least privatization of natural resources
-SEZs are regions along the coast that allow for more liberal handling of the economy
-Government regulations in those areas are looser because the government wants to promote growth there
Mexico
Policies Regarding Private Capital and Industry in ___________:
-Privatization and increased competition in the Oil Industry (PEMEX)
-Some foreign oil companies allowed as well
-The economy relies on the abundance of oil; efforts to privatize the oil industry by the government in recent years (Handling of Market Forces)
Nigeria
Policies Regarding Private Capital and Industry in ___________:
-State-owned ________ National Petroleum Corporation (NNPC) collaborating with foreign companies to extract and produce oil
-In the 1970s, NNPC was created due to the discovery of a lot of oil
Russia
Policies Regarding Private Capital and Industry in ___________:
+Putin's re-nationalization of oil/natural gas industries and imposition of foreign investment limitations
-Opposing economic liberalization (regression)
-Foreign direct investment is greatly limited in the nation (Handling of Market Forces)
Iran
Policies Regarding Private Capital and Industry in ___________:
-Lack of transparency of state-owned enterprises (hurts economy)
-The struggle to integrate into the international market after the imposition of sanctions challenges the country economically
UK
Policies Regarding Private Capital and Industry in ___________:
-Allows the most private control of natural resources in the course countries
-Has a mixed economy
-The private sector plays a vital role in the economy
-Privatizes its national resources the most out of the 6 AP courses (has certain levels of regulation, however)
China
Private Control of Natural Resources in _________:
-Most natural resources are state-owned/ owned by the Communist party
-Profit from those state-owned industries helps fund the government
Mexico
Private and State Control of Natural Resources in _________:
-The oil industry opened up to direct foreign investment in 2014; Created some competition for Pemex
-Not fully privatized yet
-PEMEX has been the state-controlled oil/natural gas company for decades
-There is a clause in the constitution that states all natural resources underground are under state control
-During Pena Nieto's presidency, the government allowed for some privatization of the oil industry and oil exploration
-Returned focus to nationalization under current President Obrador
Russia
Private Control of Natural Resources in _________:
-Originally had a private oil industry (Rosneft) and natural gas industry (Gazprom), but they have both become re-nationalized (now under government control)
-Putin pushed out oligarchs and has continued to consolidate government control over natural resources during his time in power
-Those loyal to Putin have benefited greatly; Wealth generated from resources is usually concentrated at the top of the government hierarchy
Nigeria
Private Control of Natural Resources in _________:
-Joint ventures between NNPC and foreign oil companies
-Oil companies headquartered in other countries are allowed to come into Nigeria and develop pipelines and business
UK
Private Control of Natural Resources in _________:
-Private industries control most natural resources
-Private industries pay taxes to the government
CCP ideology
China: Changes in ___________________ since 1979
-Expanded socialist market
-Expanded privatization
-More FDI
-More legal protections for private property
-More global influence
-Done to expand economic growth and legitimacy, reduce social unrest, and have greater national and world influence
(Reasons Governments Respond to Global Market Forces)
Mexican
___________ Government's Response to Globalization
-NAFTA
-More liberal economy and privatization
-Diversifying its economy
-Creation of export promotion zones and maquiladoras
-Citizen responses have varied (some good, some not so good, some very bad)
(Reasons Governments Respond to Global Market Forces)
Sovereignty
The authority of a government to manage itself without the interference of exterior forces
-Nations vary in their degree of this (depending on the independence in relation to other states)
-It can be territorial, political, domestic, or legal
-Supreme or independent authority
-Recognition by other international actors
ex). Russia posed a challenge to Ukraine's sovereignty
Sovereignty
Challenges of Globalization to _____________________:
-Foreign direct investment and Multinational corporations from originating regimes can pose a problem to a gov's foundational economic and political ideas/perspectives
-Cultural influences (usually Western) that come with investment and trade in a given regime can cause a domestic backlash
-Increased economic development can cause environmental degradation and accompanying health issues that alienate citizens
-Foreign governments can bring political and economic pressures (including treaty reversals, public condemnation at intergovernmental organizations like the United Nations, and economic sanctions) to bear on countries whose actions (including human rights violations) offend them
Foreign Direct Investment (FDI)
Investment from abroad in economic activity in another country
-A country invests in another country
-The intent of pursuing personal interests in the company receiving the investment
-Serve to mark an international presence
-Can disrupt the political ideas and ideologies of other nations
Legitimacy
The degree to which a government's right to rule is accepted by the citizenry
-Unit 1 Review
-People accept government's authority
Nigeria
Challenges to Sovereignty Because of Globalization in ___________
-Multinational corporations have facilitated corruption and the government's dependence on oil for money
China
Challenges to Sovereignty Because of Globalization in ___________
-Economic reform has led to judicial reform; Domestic backlash has been provoked due to investment and trade causing Western influence in the country
-Increased environmental issues, degradation, and health concerns; Can challenge the legitimacy and sovereignty of a regime
Iran
Challenges to Sovereignty Because of Globalization in ___________
-Sanctions imposed by the UN to stop the Uranium enrichment program slowed the economy down
China
Government Responses to Global Market Forces in ______________:
-Economic reforms and anti-corruption Efforts
-Citizens concerned over this issue
Nigeria
Government Responses to Global Market Forces in ______________:
-Attempts to reduce corruption, especially in the oil industry
-Citizens have become more aware of corruption in government, and have demanded change through protests; Steps toward reform have taken
UK
Government Responses to Global Market Forces in ______________:
-The decision/decided to leave the EU
-Allowed for an internal response to economic concerns without outside intervention
-Controls domestic policy debates
Iran
Government Responses to Global Market Forces in ______________:
-Responds to protests; Silences voices
-Controls domestic policy debates
Russia
Government Responses to Global Market Forces in ______________:
-Efforts to maintain trade relationships and influences with former Soviet territories/countries
-Attempts to extend regional influence
Mexico
Government Responses to Global Market Forces in ______________:
-Participation in NAFTA
-Efforts by the government to respond to citizen protests
-Attempts to extend regional influence
Negative
_______________ Impacts of neo-liberalization:
-Increased inequality
-Environmental degradation
-Decrease of Social welfare
Free Market Mechanisms
Letting the market run itself, or rather, without government intervention
-Incentivizes the free flow of traded goods between countries and the reduction of subsidies and tariffs
Subsidies
Consists of financial help by the government to support a specific activity and/or industry that is seen as socially and economically beneficial
Mexico
Examples of economic liberalization policies in _____________:
-Approval of NAFTA, joining the WTO
-Privatizing the telecommunications and airline industries
-Cutting off subsidies for farms
Russia
Examples of economic liberalization policies in _____________:
- Shock therapy
- legalization of private property
- invitations for foreign direct investment
- privatization of state-owned businesses
Goals
________ of Economic Liberalization Policies:
+ To identify undesirable economic circumstances
- Rising unemployment
- Reduced productivity
+ Eliminate undesirable external situations
- Trade deficits
- Decreasing demands for raw materials (like petroleum or natural gas)
Gross Domestic Product (GDP)
Total market value of all goods and services produced in a country in a year
-IMF provides a measure of every country's GDP
-Way to measure the Success of Economic Liberalization Policies/ Economic Growth:
GDP per Capita
Economic Output per person (Total GDP divided by population)
-Way to measure the Success of Economic Liberalization Policies/ Economic Growth:
Economic Growth Rate
Percentage Change in GDP
-Way to measure the Success of Economic Liberalization Policies/ Economic Growth:
Human Development Index (HDI)
Uses life expectancy, education, and per capita income to measure quality of life in a country
-Examines the standard of living of different populations inequality
-Way to measure the Success of Economic Liberalization Policies/ Economic Growth:
Gini Coefficient
A measure of income inequality in a country
-Way to measure the Success of Economic Liberalization Policies/ Economic Growth:
Inequality
The distribution of wealth in nation
-How much do people have, and who actually has it
Inflation Rates
Increases in prices or decreases in purchasing power of a currency
Corruption Perceptions Index
The perceived levels of public sector corruption in a country
-Neoliberalism gives more powers to private enterprises, which may motivate corporation owners to gain more power by infringing the laws/ buying support from politicians
Urban Sprawl
The urbanization of areas that were previously underdeveloped
-Migration flows can contribute to this
Neoliberal economic policies
The removal of barriers and restrictions on what internal and external actors can do
+Consequences of Neoliberalism:
- Reduction in inflation
- Increase in national income
- Growing inequality in wealth distribution
- Political Corruption (NIGERIA)
- Environmental Pollution (CHINA)
- Urban Sprawl
- Uneven Economic Development
- Poor infrastructure / Lack of Government Regulation
- Regional migration patterns (Mexico: South/North & - Rural/Urban China: East/West & Rural/Urban)
International Organization
Organizations that contribute to the interconnectedness between countries and help to mediate conflicts, develop diplomacy, and serve as a foundation for the goals and objectives of nations; Operate across boundaries
-A body established by a treaty or other agreement among countries
-Members states joined together in a common goal
-Organizations have their own rules and guidelines for members to follow
-Goal to prompt greater Global unity and cooperation
Examples: United Nations, IMF (International Monetary Fund), and the WTO (World Trade Organization)
Positives
___________ for Member States in International Organizations:
-More opportunities for global trade
-More opportunities for building relationships with other countries
-Can help provide security and stability
Free Trade
Consists of the adoption of policies that facilitate trading between countries and expand global economic activity
Negatives
__________ for Member States in International Organizations:
-Organizations that promote free trade can hurt domestic businesses and industries
-Potential loss of sovereignty for member states
-May not treat member states as equals
United Nations
An organization that serves to promote cooperation between countries and promote international security, human rights, and development
IMF (International Monetary Fund)
Promotes countries having stable economic and fiscal policies
-Manages exchange rates
-Provides loans to countries in need of financial assistance (helps the country in need, but also provides global financial stability)
-Loans come with strings attached; Countries must agree to Structural Adjustment Programs
-SAPs call for neoliberal policies/reforms (tariff eliminations, privatization of industries, free trade, reduced government subsidies, etc)
World Bank
Functions:
-Provides low-interest loans to countries in need
-Provides grants to developing countries for projects
-Provides financial advice to countries that request it
Goals:
-Provide financial support to developing countries
-Promote shared prosperity
-End extreme poverty
WTO (World Trade Organization)
A supranational organization:
-Most countries in the world belong to this group
-Regulates international trade
-Oversees trade agreements
-Mediates trade disputes
-Lowers or eliminates tariffs
Major goals include:
-Increasing international trade between member states
-Reduces barriers to international trade
-Promote fairness and transparency in trade
Import Substitution Industrialization (ISI)
Enacting high tariffs and providing incentives to encourage the growth of domestic manufacturing; A response to the failure of liberalist economic ideology
-Policies adopted to reduce a country's dependency on other countries by raising tariffs and providing incentives to encourage domestic manufacturing
-Try to support domestic businesses and reduce foreign dependency
-Limit imports to prop up domestic goods; Accomplished by raising tariffs
-Encourages production of local industrialized products
-Encourages purchases of local products by citizens because price is cheaper than foreign products
-States will oftentimes create new businesses under state control or partial state control to fill the void by reducing imports
-Local industries and businesses can usually perform well without foreign competition, but will usually not be innovative and set up substandard production
-Takes a lot of state revenue away from other parts of the government
Previously used by Mexico, Nigeria, and the UK. When these countries joined supranational organizations, they either reduced or eliminated their ISIs (EU for the UK, ECOWAS for Nigeria, NAFTA for Mexico)
Supranational organizations
A body in which member countries have some say in governing and give up sovereignty over issues affecting the organization as a whole
-Has power that supersedes the power of individual nation-state
-Important for promoting coordination and harmony between nation-members
-Oftentimes disrupts the sovereignty of other individual states in the perspective of certain governments (despite the fact that they have no legitimacy or sovereignty themselves as entities)
-Governments with more nationalistic ideas usually don't like how the organizations exercise power
Ex). ECOWAS & EU
Economic Community of West African States (ECOWAS)
Created to promote economic integration and growth amongst West African States; Common policies adopted by the group include the reduction of tariffs to increase trade between member states
-Supranational organization
-The goal is to build better connections between member states
-Breaks down barriers to trade
-Economic and peacekeeping focus
-Discussions on Common Currency
-Potential to be like the EU of West Africa
+ Nigeria is a major leader
-It has the largest population and economy
-Democratic country
-Strong military
-Massive oil reserves
European Union (EU)
A supranational organization that promotes greater European political and economic integration
-Euro was introduced in the early 21st century and through the Eurozone was trying to reduce economic barriers and increase integration between member states
-EU grew rapidly in the early 21st century when many new countries joined
-Sets monetary policy (EURO)
-Sets up environmental policies
-Free travel for citizens between EU states (1985 Schengen Agreement)
UK and the EU
-UK has often been outside of the EU mainstream
-Not an original member, and has a history of being independent of EU members on the continent
-Did not adopt the Euro
-Frustrations by the citizens with the EU led to Brexit in 2016
Euroscepticism
British criticism against the EU; Claim EU is:
Undemocratic
-Bloated bureaucracy
-Forcing continent beliefs upon British citizens
-Elitist (not caring about the average British citizen)
-Did not like common currency
-The rapid expansion of the EU that included many countries in Eastern Europe
-EU Enabled more immigration to UK
- Caused political action in the UK
-Participation in the United Kingdom Independence Party (UKIP) grew
United Kingdom Independence Party (UKIP)
Anti-EU party and advocated for the UK to leave the EU
-Seen as a fringe party
-Clashed with both the Conservatives and Labour party
-Could not win House of Common seats but had a lot of support throughout the country
-Were able to win seats in the EU parliamentary elections when the singular focus of leaving the EU was given attention
-Gave the party a platform to lobby for a referendum vote on whether the UK should stay or leave the EU
-Caused BREXIT
-Anti-multiculturism and anti-immigrant; See immigrants as having caused negative changes to government services and causing changes in established British culture
Brexit
The exit of the UK from the EU; Referendum vote for the people in 2016 over whether or not to leave the EU
-Most of the leadership in the Conservative, Labour, and Liberal Democrats supported STAY
-The populist movement by UKIP for LEAVE wins with a narrow victory
-PM David Cameron was forced to resign in disgrace over a period of confusion on how the UK was to leave the EU; The next PM, Therese May, also resigned due to a failed plan
-UK leaves EU in January 2020
-British Government, under Boris Johnson, finalized steps for how to leave the EU that was slated to end in December 2020
Political
___________ Changes Governments must Address when adopting new social Policies:
-Voting rights
-Representation
-Civil Rights
-Education
Cultural
___________ Changes Governments must Address when adopting new social Policies:
-Women's rights
-Societal norms
-Family structure
-Demographics
Economic
___________ Changes Governments must Address when adopting new social Policies:
-Poverty
-Wealth inequality
-Unemployment
-Development
Women's Rights in Iran
-Women do have rights (as opposed to most misconceptions, but several key rights have come as a result of adopting social policies)
-Major gains before 1979 revolution, and carried over in its aftermath
-Push for more women's rights through Islamic Feminism
-Better than most of its neighboring countries in the Middle East
Iran
Voting rights for Women in __________:
-Women were allowed to vote before the 1979 revolution
-Women are still allowed to vote and vote at the same rate as men do
Iran
Female Representation in National Government in ------------:
-Women have been allowed to run for the Majles since after the 79' revolution
-Current Majles has more female representation in its history (representation continues to grow)
-Many women still vetted by the Guardian Council
-Rare for a woman to serve in the cabinet, but it is allowed by the theocracy
-Cannot be Supreme leader or President
Iran
Education for Women in _________:
-Rights expanded greatly for women pre-revolution, and still grow
-More opportunities for women than in most of Iran's neighboring countries
-Women can attend the country's universities
-More _____________ Women enrolled in universities than men
-Some limitations were put on women in universities during President Alhamidnehad's time as president
-Present policies restrict many women from getting degrees in certain fields, especially programs related to the sciences
Iran
Sports and Athletics in --------------:
-Post-Revolution, women have been heavily restricted from attending athletic events as either spectators or participants
-Women are banned from being spectators at male events; When they are allowed to watch, they are segregated into a special section
-Increase in women participating in athletics for internal competition, but women are still barred by many rules
Gender Quota
________________ Law in Mexico:
-Push for more female representation in the legislature
-Originally started as quotas for party candidate lists; Adapted to a law that must be enforced by IFE
-Became part of the constitution in 2014; Quotas required for both local and national elections for all registered parties
-Requires political parties to have a certain percentage of women run for SMDP positions or have a certain amount of women placed in proportional representation seats based on what the party earned
Nigeria
Issues with education in ---------------:
-Unequal access to education for women in the north compared to the south
-More government-funded schools in states below the middle belt
-A stronger cultural emphasis on female education in Southern states
-Traditional Islamic Culture in the North doesn't care about female education as much
-Attempt to put more government funds into schools to keep girls going
-Desired success not yet met for breaking down inequality of education for women between North and South
Social Welfare Policies
Government policies that provide programs or services aimed at improving the lives of citizens
-Consists of actions that aim to promote the welfare and well-being of citizens in a nation
-Can include action in diverse areas of life, such as education healthcare, labor, housing, etc.
-Can increase a government's legitimacy
-Can respond to citizen issues and allow for a higher quality of life
-Focused on helping citizens who are at or below the poverty level
-Provide an economic and societal safety net for the public
-To provide programs, government revenue needs to be spent; -More programs offered, more of a tax burden on the citizens
-Can help promote regime legitimacy to show government cares for citizens and provides them with necessary services
Ex). Direct relief via cash payments, public schools and education programs, public health care, public housing, food distribution, support for the elderly, pension plans
National Health Care Services (NHS)
Provides free health care to all citizens of the UK; A key part of the social welfare system in the UK
-Great source of Civic pride
-A major debate point between the Conservative and Labour parties
Public housing
Helps get people housing
- Increased urbanization has created a demand for more public housing assistance
- Social welfare in UK
Education in the UK
-More emphasis on publicly funded schools in a changing economy
-More competition for 21st-century jobs as Union jobs are drying up
-example of Social welfare in UK
elderly
Programs for the ________ in the UK
-Pension plans are important due to the aging population
-Politicians who threaten to reduce these plans risk losing favorability due to the aging/soon-to-be elderly public
Iran
Social Welfare programs in __________:
-Social welfare programs exist, but poorly run and inefficient
-Does not tax its citizens a lot as massive oil revenue allows the government to operate its budget
-The oil revenue being connected to the government causes major corruption and contributes to poor social services
-A fluctuating oil market can create inconsistent government revenue and prevent the government from providing high-level services
Mexico
Welfare issues in ______________:
-Labor
-Abortion depends on the state (dealt with as a healthcare issue in states that allow it)
-In states that don't allow abortion, women are subject to prosecution
Russia
Welfare policies in __________:
+ Labor
-Government has put in place to protect the workers, including minimum wage and laws on hours and conditions
China
Welfare issues in __________:
+ Wealth Inequality
- Government has made a lot of progress in the past few years to improve overall quality of life for its citizens
-Still a very unequal nation with low class mobility (the ability of citizens to ascend social classes)
Bonyads
Charitable organizations often designed to help the less fortunate; An Example of an NGO in Iran that contributes to social welfare
-Receive oil money to carry out their operations; Often sponsored by the most powerful families in Iran
-Lack of oversight has caused many of them to become corrupt and not help citizens as much as they should
Industrialization
Increase in industry and manufacturing in an economy where industry is more dominant in an economy than agriculture.
-Has many consequences for the well-being of citizens and the environment (good and bad)
Environmentalism
Movement of rescuing, protecting, and preserving the environment
Austerity
Governments making budget cuts to programs or raising taxes to balance its budget and decrease debt
-Government spending is usually more than revenue from taxes or resources
-Governments dependent on revenue from a natural resource are at the mercy of the global market
-Developing countries seeking loans are usually forced to adopt a budget-balancing plan
-Budget cuts of social welfare programs are usually not popular but may be needed to secure loans to ensure long-term financial stability
-Politically risky to execute if social programs are cut
-Can cause political unrest and leave citizens without social safety nets they have become dependent on
Pros
------------------ of Industrialization:
-Economic diversity
-Technological advancement
-Job Creation
-Wealth Creation
-Leads to Infrastructure improvements
Cons
------------------ of Industrialization:
-Massive pollution
-Low paying jobs
-Dependence on fossil fuels
-Dangerous working conditions
-Government corruption