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GDP per Capita: Highest1900• #1 United Kingdom• #2 New Zealand• #3 Australia• #4 United States• #5 Belgium• #6 Netherlands• #7 Switzerland • #8 Germany• #9 Denmark• #10 Austria• #11 France • #23 Japan
2005• #1 Luxembourg• #2 Norway• #3 Iceland • #4 Qatar• #5 Switzerland• #6 Ireland • #7 Denmark • #8 United States • #9 Sweden• #10 Netherlands• # 13 UK• # 16 Japan• # 18 FranceFrom Angus Maddison, The World Economy,
OECD, 2001; Nation Master.com
GDP per Capita: Lowest (2005)1. Burundi2. Ethiopia3. Congo4. Liberia5. Malawi6. Guinea-Bissau7. Sierra Leone8. Eritrea9. Rwanda10. AfghanistanSource: The Economist, Pocket World in Figures, 2006, p. 28.
Developing World• South• LDCs• Third World–Latin America–Asia–Africa
Western Hemisphere Colonized(current borders included)
Colonized Africa
Colonized Asia 1910
Middle East Colonized (roughly WWI)
http://www.npr.org/news/specials/mideast/the_west/colonies_map.html
Independence• Latin America (by 1823)•Middle East (after WW I)• Africa and Asia (post-WW II)
Strategies for Development
1. Modernization: Be like the west2. Nationalization: Seize assets of wealthy
nations in a developing nation (related to Dependency)
3. Marxism: Use Soviet Union as a model4. Group Efforts5. East Asian Strategy
1. Modernization : Basic Dilemma
EDCs• North America• Western Europe• Japan• Large middle class• High Tech• Industrial products• High skills• High wages• Cars, chemicals, aerospace,
telecomm, electronics, software
LDCs
• Africa, Asia, Middle east, Latin America
• Primary products• Commodities• Elites -- impoverished• Low skills• Low wages• Bananas, coffee, minerals,
rubber, timber
The Flow of Money
$$$$$$: cars, computers, manufactured goods
$$: bananas, coffee, timber, minerals
EDCs LDCs
2. Nationalization DilemmaGlobal Wealth ranking by GDP per capita (for nations following Nationalization strategies after WW II)
1900 1950 2005
• Argentina 12 12 31• Chile 16 16 53• Mexico 22 27 57• Colombia 25 26 76• Venezuela 27 4 84
(data from: Nation Master.Com: http://www.nationmaster.com/index.php)
3. MarxismClockwise from the top: Statue of Kim Il-sung, North Korean leader from 1948-1994; skulls left by
the Khmer Rouge, in power in Cambodia from 1975-1978; Fidel Castro, dictator of Cuba 1959-?
4. Group Efforts• NIEO• UNCTAD• Group of 77• OPEC
5. East Asian Strategy
1. Japan as the Model2. Business-Government Partnership3. Open up the Economy to Foreign
Investment4. Exports!5. Export Processing Zones6. Building Home Companies
Four Tigers• Hong Kong Singapore
• South Korea Taiwan
Tokyo 1945
Tokyo 50-60 Years later
Seoul, ROK
Singapore
Taipei, Taiwan
Hong Kong, China
Integrating into the World Economy
PartsUnfinished imports exports
products Finished Components products
Export Export ProcessinProcessin
ggZoneZone
The Biggest of the Big Emerging Markets
• China 1978• Deng Xiaoping
Shanghai, China
Guangzhou, China
Indian Reform 1991
P. V. N. Rao Manmohan SinghPM 1991-1996 Min of Finance 91-96
PM 2004-present
China and India and Asian Growth
• China 1.3 billion• India 1.0 billion• 2.6 billion of 7 billion humans; statistically the
largest economic reform program in world history• Add Southeast Asia:• 3.5 billion entering the modern world economy• Tallest Buildings in the world today• The Future
A Long Way to Go
Poverty in India
Fastest Growing Economies1983-1993
1. China2. Thailand3. Botswana4. Taiwan5. South Korea6. Macau7. Chile8. Singapore9. Indonesia10. MalaysiaSource: The Economist, Pocket World
in Figures, 2006 and 2010, p. 32-33.
1997-2007
1. Equatorial Guinea2. Turkmenistan3. Azerbaijan4. Myanmar5. Armenia6. Qatar7. China8. Angola9. Cambodia10. Bhutan