Essay about Political and Economic Developments in the Catch-Up Nations
German political system. A multiparty system has been in place since 1949, and it has been dominated by the Christian Democratic Union and the Social Democratic Party of Germany. The political system is articulated in the 1949 constitution or Grundgesetz (Basic Law) which has been in effect since Germany’s reunification, with only minor amendments.
Global Macro-Political and Economic Changes John O’Sullivan of The Economist doesn’t mince words: “The shift in economic power from West to East is accelerating—the rich world will lose some of its privileges”. (O’Sullivan, 2011) Living standards across nations are converging as the developing, poorer countries work to catch up with more economically developed countries (MEDC) (O’Sullivan, 2011). The competitive edge is dulled as the technological know-how, knowledge work “secrets,” and practices of the rich West are being adopted and adapted by less economically developed countries (LEDC) (O’Sullivan, 2011). The fastest growing of the LEDC are China and India, but other LEDC countries in Africa and Latin America are closing the gap also. (O’Sullivan, 2011) Not only is the gap closing, but