EXPLAIN AND DESCRIBE THE CHARACTERISTICS OF ECONOMIC ACTIVITY IN NEWLY INDUSTRIALISED COUNTRIES
EXPLAIN AND DESCRIBE THE CHARACTERISTICS OF ECONOMIC ACTIVITY IN NEWLY INDUSTRIALISED COUNTRIES (20 MARKS) Newly industrialised countries (NIC's) are a group of countries (mainly in Asia and south America) that have attained a high level of industrialisation. These countries include Japan, South Korea, Singapore, Hong Kong and Taiwan, who have undergone rapid and successful economic transformation since the 1960's. Three generations of NICs have been recognised, First Generation NIC's for example South Korea, Singapore, Taiwan and Hong Kong, Second Generation NIC's such as Malaysia and Thailand and Third Generation NIC's such as India. One of the main characteristics associated with NICs is the idea of rapid industrialisation. There are two policies that are used in regard to industrialisation. They are: Export Oriented Industrialisation (EOI) and Import Substitution Industrialisation. South Korea, as an example of a First Generation NIC, had very low prospects after the Korean War of 1950-3. However from the 1960's the economy took off again and South Korea started achieving rates of growth for the best part of four decades. All aspect of the quality of life improved and wages rose gradually. Life expectancy increased from 47 years in 1955 to 75 years in 2002. Hard work, rigorous schooling, state enforced austerity and imported technology transformed the economy and led to
Newly industrialised countries have been, and continue to be, the driving force of globalisation. To what extent do you agree?
‘Newly industrialised countries have been, and continue to be, the driving force of globalisation.’ ________________ To what extent do you agree with this statement? ________________ . The category of newly industrialized country (NIC) is a socioeconomic classification applied to several countries around the world by political scientists and economists. 2. ICs usually share some other common features, including: . Increased social freedoms and civil rights 2. Strong political leaders. 3. A switch from agricultural to industrial economies, especially in the manufacturing sector. 4. An increasingly open-market economy, allowing free trade with other nations in the world. 5. Large national corporations operating in several continents. 6. Strong capital investment from foreign countries. 7. Political leadership in their area of influence. 8. Rapid growth of urban centres and population. Region Country GDP (PPP) (Billions of USD, 2011World Bank)[7] GDP per capita (PPP) (international dollars, 2011World Bank)[8] Income inequality (GINI) 2008-09[9] [10] Human Development Index (HDI, 2011)[11] GDP (real) growth rateas of 2010 GDP (real) growth rate per capita as of 2008 Sources Africa South Africa 555,340 10,977 63.1 0.619 (medium) 2.78 1.29 [3][4][5] South America Brazil 2,309,138 11,845 54.7 0.718 (high) 7.49 4.06 [2][3][4][5] .
Analyse the Processes Leading to the Emergence of the New Wave of Newly Industrialised Economies
Analyse the Processes Leading to the Emergence of the New Wave of Newly Industrialised Economies Since the Second World War there have been dramatic changes in the world economy, one of the most significant being the shift in geography of the world's manufacturing industry. During the 1960's manufacturing industry began moving from developed countries into developing countries. These Newly Industrialising Economies (NIE) include Brazil, Mexico, Singapore, Hong Kong, Taiwan and South Korea. It is the rapid growth of the latter four country's economies (the 'tiger economies') that has spurred the emergence of the 'New Wave' NIEs; Malaysia, Thailand, Indonesia and the Philippines. Change in government policy, guidance from the International Monetary Fund (IMF), Foreign Direct Investment and the surfacing of an integrated Asian economy are all key factors in their emergence. The 'New Wave' or 'second-tier' NIEs mentioned are known collectively as the 'ASEAN-4' (Association of South East Asian Nations). General processes involved in the rise of the ASEAN will be analysed, with specific reference to the economies of Malaysia and Thailand, the most rapidly changing second-tier NIEs. To do this, the reasons for the phenomenal growth of the first-tier NIEs in the 1960's have to be identified. Government policy of NIEs was based upon attracting intensive labour industries and
The Problems Facing the Newly United Italy in 1870.
The Problems Facing the Newly United Italy in 1870 There were many problems facing Italy in 1870 after Unification took place when Rome was captured and became a part of Italy's kingdom and the states joined. One of the problems that the newly united Italy had to face was political. Italy was ruled by the Liberal elite. This was a problem because there was not a Liberal party, but groups of people from other parties made up the Liberal following. This made it hard for the Liberal rule to produce a majority when deciding legislation and therefore proportional representation didn't occur very often. Without proportional representation the majority of the population's wants and needs are not catered for and therefore not making them happy. Proportional representation also didn't occur because of the narrow electorate. Only 2% of the entire Italian population could vote. These people were males over the age of twenty-five that owned land and that could read and write. This kept the working class and women from voting. They didn't want these people to vote because they were uneducated and thought that this would make them open to bribery and that the church had a lot of hold over them and the decisions that they may make if they were to vote. The church in Italy believed that the government was anti-clerical and therefore would tell the Catholic followers to not vote
Factors affecting birth rates in countries with different levels of development.
Crude Birth Rate is the number of childbirths per 1000 people per year. The word 'crude' is used because there are more accurate ways of measuring birth rate. For example, crude birth rate is sometimes measured by the number of births of the whole women population however a more accurate way of measuring fertility would be to measure it of women of a child bearing age. Highly industrialised nations, for example USA, UK and Japan have generally low birth rates whereas in countries with limited industrial development have high birth rates. Newly industrialised countries lie somewhere in the middle with moderate levels of birth rate. There are many factors that are a cause of these variations in crude birth rate. Women are a key factor to why there are varying birth rates. In some cultures and traditions, women are seen as worthless until they provide a child. In cultures where women have the choice to control their lives and regulate their birth rates, they do so through contraception or marrying at a later age. The World Fertility Survey shows that women with at least 7 years education, who work outside the home and who marry later show a reduction in fertility. Another factor is the level of education and affluence because the more educated women are in terms of fertility and a method to prevent childbirth, the more likely a country is to be able to control its birth rate.
Can developing countries ever catch up with developed countries
Essay: Can developing countries ever catch up with developed countries? The concept of "development" is the crucial concept which defines the boundary between "developed" and "developing" (or more accurately, given their stagnation, "underdeveloped") countries and implicitly, the idea of "catching up". There have been many definitions of this concept. The World Bank, for instance, claims that "[r]educing poverty is the fundamental objective of development"1, implying a purely economic definition. In contrast, Worsley argues that "[t]he examination and definition of development should include the interplay between economic and political institutions and the rest of social life"2. For the purposes of this essay I shall adopt a definition which treats development as convergence with western self-definitions, particularly regarding standards of living and economic wellbeing. Such a definition retains an awareness of the link between underdevelopment and poverty while also incorporating an awareness of the colonising implications of the concept of "development". Thus, "developed" or northern countries are those with industrial economies and high standards of living (measured by GDP). In contrast, "underdeveloped" societies (mainly those located in Latin America, Asia and Africa) have low standards of living and economies focused on agriculture, extractive industries or
The Newly Rise of Furniture Industry.
The Newly Rise of Furniture Industry Furniture industry is another core industry in Shunde nowadays. It's output has reached to RMB 11 billion in 2001, and accounted to 30% of Guangdong's total output (Hong Kong Trade Development Council), which make the city become one of the country's largest bases for manufacturing furniture, related coatings and woodwork machinery, as well as one of China's largest markets for related raw materials and accessories. Moreover, the city has more than 2700 enterprises manufacturing furniture, together with more than 800 enterprises manufacturing furniture coatings, more than 700 enterprises manufacturing woodwork machines and about 500 enterprises manufacturing ironware for furniture. The enterprises are mostly situated in Longjiang Town (China Daily, 13th January, 2003). Shunde Longjiang Town is known as "hometown of sofa" and the first town of furniture. And there are more than 1,200 furniture factories in it. In addition Longjiang Town is the well-known transaction center of furniture material. For this reason, "Longjiang Model" is generated, which represent the Furniture Industry of Shunde. There are four characteristics of "Longjiang Model": . Mainly Labor-Intensive Industry with Collective Ownership Longjiang furniture enterprises have more than 1,200 factories, which account for one fifth of the whole province. There
World Trade Organisation and their relationship to developing countries - an evaluation
World Trade Organisation and their relationship to developing countries - an evaluation This paper will analyse, and were appropriate, criticise the relationship between the World Trade Organisation (thereafter abbr. WTO) and the developing countries as well as discovering the current situation. The question arises how the WTO acts opposite to the developing countries and whether it is equal to how they proceed with industrial countries? In order to answer this issues at first a general overview about the WTO will be given and furthermore an evaluation of the position of the developing countries within the WTO. The WTO entered into force on 1 January 1995. It exists to ensure that trade between nations flows as "smoothly, predictably and freely as possible".1 To achieve this, the WTO provides and regulates the legal framework which governs world trade. The legal documents of the WTO spell out this framework as well as the individual obligations of the member countries. The result is assurance of equal world trade. It is furthermore responsible that the WTO agreements including its annexes are carried out, governed and executed. It should be a forum in which multilateral trade negotiations take place as well as the resolution of disputes. Another important duty is to review the trade policies and exertions of the WTO member states.2 The WTO is best described as an umbrella
Are poor countries poor because rich countries are rich?
Are poor countries poor because rich countries are rich? 'The GDP of the world's poorest 48 nations combined is less than the wealth of the world's three richest people'. (Ramonet, 1998) When the world began to develop, both politically and economically, due to numerous causes, some countries were able to excel, while others trailed far behind. This pattern of development consequently led to a vast gap in wealth between what can now be termed the global north (N. America, Canada, Europe, Russia and most of Australasia) and the global south (Central and S. America, Africa and most of Asia). On one hand, there are a number of factors which indicate that the main reason for this difference in wealth is due to the impacts that the rich countries had on the poorer countries. For example, colonization played a significant part in constructing the order of the world today. Colonization began as early as the beginning of the 16th century when European countries, such as Britain and Spain, began to form colonies in parts of Africa, Asia and South America. Although at the time, colonialism was seen as mutually beneficial for both sides, it had considerable unexpected negative impacts for the colonies. The colonial powers continued to expand their empires by exploiting the rich raw materials and establishing highly profitable trade systems. This increase in wealth gave these
Evaluate the usefulness of the theories of class of Marx for an understanding of patterns of inequality in modern industrialised societies.
Evaluate the usefulness of the theories of class of Marx for an understanding of patterns of inequality in modern industrialised societies. The cornerstone of Marx's class theory is the premise that "the history of all hitherto existing society is the history of class struggles".1 He perceived society as fundamentally divided between classes in pursuit of conflicting class interests. For Marx, class is defined and structured by the relations concerning; work and labour, and ownership or possession of property and the means of production. These economic factors have more influence on social relationships under capitalism than they did in earlier societies. In Marx's theory there are two main classes in capitalism; the bourgeoisie and the proletariat, although other classes such as landlords, petty bourgeoisie, peasants, and lumpenproletariat also exist, Marx does not see these as primary in terms of the dynamics of capitalism. The bourgeoisie or capitalists are the owners of capital, purchasing labour power and using the surplus value from employment of this labour power to accumulate or expand their capital. It is the ownership of capital and the ability to exploit labour that is the central point, being wealthy is, in itself, not sufficient to make one a capitalist. What is necessary is the active role of using this wealth to make it self-expansive through employment and
