Basic features of the evolution of the world economy
- Review about Knox analysis bases
- The evolution of the world geographical economy
- The emergence of the 'globalized economy'
Knox bases his analysis on the core-periphery framework, the core mostly being the traditional triad (USA, Europe, Japan) and the periphery, most of the other nations in the world. However, this statement would not be complete if it was not for the semi-periphery highlighted by Knox where changes are fast and crucial to the planet's economic geography. Knox describes the evolution of the world geographical economy as going through different stages from the emergence of the core economies to the more recent transnational integration. Throughout this process, three main features are to be emphasized: the rise of core economies, the special transformation of the periphery and finally the adjusting to a new global economy. Before describing what the rise of core economies implies in terms of geographical economics, it is important to locate the core. The author includes the ex-USSR into the core economies but makes it clear that it is somewhat of a special case. Given what happened since the fall of the Berlin wall these economies are going through a transitional period putting them back within the "semi-periphery" category. As stated before, the core is made up of Japan, North America and Western Europe.