New Conceptualization of Global Economy, Society, and Culture

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A. Explain the following responses to economic challenges, were they successful? What did they entail? * Great Leap Forward: An economic and social campaign of the Communist Party of China. Based on the Theory of Productive Forces. aimed to use China's vast population to rapidly transform the country from an agrarian economy into a modern communist society * Five Year Plans: developed by a state planning committee based on the Theory of Productive Forces that was part of the general guidelines of the Communist Party for economic development. * The New Deal: The New Deal was a series of economic programs enacted in the United States between 1933 and 1936. Response to the Great Depression. Focused on the 3 R’s. They involved executive orders or laws passed by Congress during the first term of President Franklin D. Roosevelt. B. Explain the Role of the government on the economy for each of the following nations from the 1950’s on * Egypt: Nasser took over to promote economic development. In order to organize and solidify his popular base with Egypt's citizens to counter the influence of the army, Nasser introduced a new constitution and the National Charter in 1964. * The United States: The use of Reaganomics refers to the economic policies promoted by U.S. President Ronald Reagan during the 1980s. 4 main points of Reaganomics contained: reduce government spending, Reduce federal income tax, Reduce government regulations, control money supply to reduce inflation. * The Soviet Union: Export-oriented industrialization (EOI) sometimes called export substitution industrialization (ESI), export led industrialization (ELI) or export-led growth is a trade and economic policy aiming to speed up the industrialization process of a country by exporting goods for which the nation has a comparative advantage. C. Provide an example and detailed summary with success and failures for the following global organizations. * The United Nations: Reaches...
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