and low welfare services. The peripheries as the last stage on his categorization are ruled by governments; export raw materials, import finished goods, live below subsistence wages, and have no welfare services (Thomas D. Hall et al, 1982). Given the above dynamics and categorization, it is important to point out that, in order for a country to move from one stage of the structures or global economic ladder to the other means it to change its domestic and foreign policy considerations at that period of time. Upon Wallerstein classification, China present status as the Semi-periphery and Ghana as the periphery in the global political economy, could only transform base on how both handles their policies. Hence, in the logic of the theory, if Ghana as the periphery continues exports raw materials to China as the semi-periphery who turn those raw materials to finished goods and export back to Ghana and other destinations, then the status of the former will difficult to change. Ghana could therefore move beyond its existing status only by adopting different resource management and trade policies. However, the theory will be incomplete if does not state something about the core even though there are not the main focus of the study. In short, the core are the developed economies with advance and complex economic activities, capital intensive or industrialized economy, welfare services, export finished goods and import raw materials. Also, the core state is made up of a complex variety of economic processes with high salaries for workers and having all the most sophisticated technologies (Peter, 1994). Countries that can be best represented in this category are USA, UK, France, and Germany. The semi-periphery shares the characteristics of both the core and periphery. In the words of Wallestein, countries under semi-periphery are the semi-developed countries of the capitalist world economy and form the buffer zones in the capitalist world economy. In that case, the is seen as those in the middle thus being between the upper stratum of the core countries and also the lower stratum of the peripheral countries (Alvin, 1990). They can therefore use their dual status to take an advantage of both the peripheral and the core countries. Classical examples of economies that are within the semi-periphery area are China and South Africa. The periphery countries usually are producers of raw materials to feed both the core and economies. The peripheral countries are characterized by cheap labor, few primary products and with the usage of obsolete technologies (Peter, 1994). Dependence and exploitation
and low welfare services. The peripheries as the last stage on his categorization are ruled by governments; export raw materials, import finished goods, live below subsistence wages, and have no welfare services (Thomas D. Hall et al, 1982). Given the above dynamics and categorization, it is important to point out that, in order for a country to move from one stage of the structures or global economic ladder to the other means it to change its domestic and foreign policy considerations at that period of time. Upon Wallerstein classification, China present status as the Semi-periphery and Ghana as the periphery in the global political economy, could only transform base on how both handles their policies. Hence, in the logic of the theory, if Ghana as the periphery continues exports raw materials to China as the semi-periphery who turn those raw materials to finished goods and export back to Ghana and other destinations, then the status of the former will difficult to change. Ghana could therefore move beyond its existing status only by adopting different resource management and trade policies. However, the theory will be incomplete if does not state something about the core even though there are not the main focus of the study. In short, the core are the developed economies with advance and complex economic activities, capital intensive or industrialized economy, welfare services, export finished goods and import raw materials. Also, the core state is made up of a complex variety of economic processes with high salaries for workers and having all the most sophisticated technologies (Peter, 1994). Countries that can be best represented in this category are USA, UK, France, and Germany. The semi-periphery shares the characteristics of both the core and periphery. In the words of Wallestein, countries under semi-periphery are the semi-developed countries of the capitalist world economy and form the buffer zones in the capitalist world economy. In that case, the is seen as those in the middle thus being between the upper stratum of the core countries and also the lower stratum of the peripheral countries (Alvin, 1990). They can therefore use their dual status to take an advantage of both the peripheral and the core countries. Classical examples of economies that are within the semi-periphery area are China and South Africa. The periphery countries usually are producers of raw materials to feed both the core and economies. The peripheral countries are characterized by cheap labor, few primary products and with the usage of obsolete technologies (Peter, 1994). Dependence and exploitation
SUBMIT_27_07_2014.docx