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World Economic Development

World Economic Development

Alexander Djerassi, a non-resident associate at the Carnegie Endowment For International Peace, believes the development of world economics can be traced to several factors. All of which will be touched on in this article. Possibly most important is the country’s willingness to be interdependent. Though no country can truly achieve self-sufficiency and self-reliance, the act of trying is what fuels economic development between countries and makes economic development possible.

In the international arena, a country’s behaviors are influenced by policy. The policy is formulated then implemented by policymakers. Several factors are considered when doing this including the external and internal environment, the countries’ national interest, national values, other countries’ foreign policy, where that country is located, natural resources, and the international power system.

Foreign policy differs greatly from one country to the next. One of the main factors is size. It can influence the number and amount of resources a country has and in turn, affect how its foreign policy is shaped. While we think of countries like the United States, China, Russia, and others as being global superpowers, countries in the Middle East and Japan play powerful roles in the global community.

Geographical factors also play into international politics. A country’s land topography, climate, fertility, and position all play a part in determining that country’s foreign policy. It influences the needs of that country and its ability to see that those needs are met. One of the greatest geographical factors is the ocean and access to it. Without access, logistics to get items shipped from the closest port to the nation buying those products becomes increasingly expensive and shapes the policy of that nation.

Consumer Products can and have played a role in many countries’ foreign policy and economic development decisions. A shortage of a certain product or resource in one country can heavily influence their decisions on who to trade with. Thus shaping policy based on the needs of their nation. Middle Eastern countries have oil but cannot grow crops. France has no oil but can grow an abundance of food. These factors have had an influence on both countries’ Foreign Policy.

Economic Development and Foreign Policy are key reasons for the United States achieving its national objectives so successfully. One of the most important is foreign aid to economically underdeveloped countries. Modern developed countries which are economically developed and highly industrialized can employ foreign aid to achieve their foreign policy. Because of this, global strategies and viewpoints are shaped by industrial and economic viewpoints as well as the need for international commerce and markets.
In closing, Alexander Djerassi has laid out the fundamentals of world economic development. He’s done this by showing how countries large and small can benefit from each other. All countries strive to be better while introducing trade for their resources with countries who don’t possess those resources and vice-versa. Strong and fair foreign policy, modernization, and industrialization are essential factors in world economic development. Without all of them working together, the system stalls.