ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The United States, Canada, most of Western Europe, Japan, Australia and New Zealand are examples of present core countries that have the most power in the world economic system. Core countries tend to have both strong state machinery and a developed national culture.

Detailed explanation-2: -According to Wallerstein, the world economic system is divided into a hierarchy of three types of countries: core, semiperipheral, and peripheral. Core countries (e.g., U.S., Japan, Germany) are dominant, capitalist countries characterized by high levels of industrialization and urbanization.

Detailed explanation-3: -Japan developed itself into a core economic country that took advantage of the peripheral countries for labor and resources during the colonial era. Japan took advantage of every opportunity that presented itself to become a world manufacturing center.

Detailed explanation-4: -• In economic geography a “core region” is the. national or world districts of concentrated. economic power, wealth, innovation and advanced. technology.