ECONOMICS SL COMMENTARY NUMBER 4- Economics/1B
Title of extract: IMF exec sees Asia's developing nations 'moving up the ladder'
Source of extract: Business World Online
Date of extract: 22 March, 2010
Word Count: 690
Date the commentary was written: 24 March, 2010
Sections of the syllabus to which the commentary relates: Section 5- Developmental Economics
This article addresses the structure, stability, and growth system of developing countries. One major point this article makes that is important to note is that all developing nations have different, wide-ranging preconditions and problems. However, most of the time, solutions to problems and main issues are similar.
Specifically, the article addresses certain problems faced by struggling countries in Southeast Asia. For example, the need for basic public services such as health-care, food and shelter. Stable programs like these are necessary for sustaining an organized economy and a strong government infrastructure. The article mentions that increased integration into the global economy is a very important aspect in the growth process. What creates a stable economy is a country's ability to cooperate with other countries, balancing imports with exports. Boosting competitiveness is also a crucial aspect of making sure that a country creates a stable role in the trade system. Most of these developing countries are in Southeast Asia; therefore, in theory it should not be too difficult for international cooperation to come from larger economies such as China or Japan.