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What is Dependency Theory of International Political Economy?

Wikipedia Commons   Like Wallerstein, Dependency Theory emerged in Latin America which argued that world trading system benefited only advanced capitalists' economies. Often the Terms of Trade favored these countries over the least developing countries (LDCs).  Terms of Trade = Export Prices / Import Prices LDC economies depend upon export of raw materials and agricultural commodities. And they import finished products from developed countries.  As the commodity prices rise slowly but manufactured product prices rise sharply, the terms of trade would deteriorate for LDCs unless their exports rise faster than the imports. The global trade is done mostly by corporate subsidiaries thus commodity prices are not exposed to market. These giant corporations often secure the deal with long term agreements, thus even though commodity prices might have rose but they would pay what was agreed in the agreement. They also have sophisticated accounting devices which enable them to avoi...
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Indian Foreign Policy Evolution (1857-1947): Universal Brotherhood to Moral Nationalism

George Tanham (1992) famously argued that political elites in India showed "little evidence of having thought coherently or systematically about national strategy." This narrative is build upon the old idea of India under British rule but no doubt; it holds some merit in saying this. Indian foreign policy objectives were never clearly defined. It doesn't make sense advocating 'non-alignment' policy and securing a friendship treaty with one of the powers. Neither it makes sense having a closer ties with the US but expecting Russia to remain friend. India always has this contradictory foreign policy approach since late 19th century. Indian view on world politics still resembles the precedents rooted in the past. If we have a closer look between 1857 to 1947, we might get some clue on why India lacks a cohesive foreign policy outlook. The 19th Century India The Indian view on International Relations was shaped by three underpinning thoughts: 1. Universal Brotherhood ...
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Making sense of Huntington's "Clash of Civilizations"

 After 27 years when Samuel P Huntington's article titled "Clash of Civilizations published in the Foreign Affairs magazine, there are people (mostly liberal) who completely refute to acknowledge any cultural clashes, and conservatives who believe in everything that is argued in the article. The truth lies in between, thus I will try to answer objectively in the question-answer format. Q. What is all about Clash of Civilization? A. The crux of Huntington's article is that future conflicts will mostly occur on the line of culture and civilization. According to Huntington, "world-politics is entering a new phase" in which "the fundamental source of conflict will "occur between nations and groups of civilizations".  Q. How many civilizations did Samuel Huntington see in the world? A. Huntington identifies eight major civilizations in the world: 1. Western  2. Confucian 3. Japanese 4. Islamic  5. Hindu 6. Orthodox  7. Latin American 8. African Q. How ...
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