Which of the following accurately describes how dependency theory in the Political Economy of International Relations (IR) explains the developmental challenges faced by resource-rich countries in the Global South?
1
Resource-rich countries in the Global South, despite their wealth in natural resources, often remain impoverished due to economically beneficial relations with developed nations.
2
Dependency theory suggests that resource-rich developing nations inherently lack the industrial capabilities needed for economic growth.
3
It posits that resource-abundance leads to internal destabilization, making external dependence a secondary issue.
4
The theory purports that these countries face economic stagnation or decline due to overreliance on exporting raw materials and importing manufactured goods from developed nations.