ECONOMIC S

YSTE

MS

OF SOUTH

AND E

AST

ASIA

ECONOMIC VARIETY

There are a variety of economic systems in Asia. Examples include:

• China: “ A socialist market economy” China is transitioning fro a command economy to a mixed market economy.

The communist government is gradually allowing more private ownership of business and foreign investment.

CHINA:

Chinese auto factory

Economists predict that China may lead the world in economic strength in 20 years!

CHINA’S ECONOMY

The largest exporter and second largest importer of goods in the world.

Main exports: Machinery

Main imports: Machinery !

CHINA’S MAIN ECONOMIC ACTIVITIES:

NORTH KOREA: A COMMAND ECONOMY

• The government controls all the resources and decides what is to be produced.

SERIOUS PROBLEMS:

• Farmers work on cooperatives where up to 300 families share the work.

• Unfortunately, the government has serious problems.

• Too much of the country’s economy is spent on the military.

• North Korea depends on massive food aid from other countries to feed it people.

KOREA’S WEAK ECONOMY:

Major export: Minerals and weapons

Main Import: Food and Petroleum

JAPAN’S INCREDIBLE ECONOMY!

JAPAN HAS A MIXED MARKET ECONOMIC SYSTEM.

JAPAN

• Japan’s economy is one of the strongest in the world.

• With few natural resources and little farmland, Japan has built its economy around manufacturing.

• A highly educated and skilled workforce is Japan’s greatest asset.

JAPAN’S IMPORTS AND EXPORTS:

Japan imports manufactured goods and food.

Japan is a world leader in producing : ships, cars, and electronics

INDIA:

• India set up a command economy in 1947.

• Since 1991, India has been allowing citizens a role in running some of India’s industries.

• Although reforms have helped, millions of people still live in extreme poverty.

INDIA’ EXPORTS AND IMPORTS:

Exports: Gems, Jewelry, Sugarcane

Imports: Petroleum