ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In world-systems theory, the semi-periphery countries (sometimes referred to as just the semi-periphery) are the industrializing, mostly capitalist countries which are positioned between the periphery and core countries.

Detailed explanation-2: -Core countries are dominant capitalist countries that exploit peripheral countries for labor and raw materials. Peripheral countries are dependent on core countries for capital and have underdeveloped industry. Semi-peripheral countries share characteristics of both core and peripheral countries.

Detailed explanation-3: -A world-system is a social system, one that has boundaries, structures, member groups, rules of legitimation, and coherence. Its life is made up of the conflicting forces which hold it together by tension and tear it apart as each group seeks eternally to remold it to its advantage.

Detailed explanation-4: -Dependency theory suggests that core countries, which are rich, take resources from peripheral countries, which are poor. The rich continue to increase their wealth through this relationship, while the poor remain impoverished.