1. OBSTACLES TO DEVELOPMENT: $$$ & ACCESS OBJ: TO DETERMINE THE CHALLENGES & POSSIBLE SOLUTIONS FOR BETTER DEVELOPMENT IN THE WORLD

2. 2 PATHS TO DEVELOPMENT SELF SUFFICIENCY = BALANCED GROWTH BENEFITS: LITTLE FOREIGN INVOLVEMENT TARIFFS, QUOTAS, LICENSING OVERALL GROWTH THROUGHOUT COUNTRY PROBLEMS: CUMBERSOME, INEFFICIENT BUSINESS, BUREAUCRATIC, COMPLACENCY INDIA INTERNATIONAL TRADE: OPEN MARKETS, COMPARATIVE ADVANTAGE- ABILITY OF A COUNTRY TO PRODUCE A GOOD/SERVICE BETTER THAN ANOTHER (SA & OIL) PROBLEMS: UNEVEN RESOURCE DISTRIBUTION, ALL EGGS IN 1 BASKET, INCREASED DEPENDENCY ON MDC, MARKET FLUCTUATIONS 4 ASIAN DRAGONS: SINGAPORE, S. KOREA, TAIWAN, HONG KONG: ELECTRONICS KUWAIT, SAUDI, BAHRAIN, OMAN: OIL ITA HAS BEEN PREFERRED

3. ROSTOW’S MODEL- ADVOCATE OF I.T.A.- A.K.A. MODERNIZATION THEORY – THINK DEMOGRAPHIC TRANSITION MODEL ALL COUNTRIES GO THROUGH 5 STAGES OF DEVELOPMENT WITHIN THEIR COUNTRY CULMINATING IN SELF- SUSTAINED ECO GROWTH & MASS CONSUMPTION GOOD FOR DEVELOPED BUT NOT REALLY FOR DEVELOPING DIDN’T TAKE INTO ACCOUNT THAT DEVELOPING COUNTRIES JUST DIFFERENT FROM MDC – BASED THEORY ON MDC’S

5. INTERNATIONAL TRADE WINS OUT- MAP OF COUNTRIES GDP GROWTH 1980-2010 OBSERVATIONS: *S. & E. EUROPE SUCCEEDED SO WHY NOT OTHERS? *POST COLONIAL COUNTRIES CONTROL NATURAL RESOURCES/RAW MATERIALS & SALE ON OPEN MARKET GENERATES INCOME *FORCED TO STAY CURRENT IN INDUSTRY, TECH, DEVELOPMENTS ETC DUE TO COMPETITION