1. I chose Australia and Vietnam to analysis whether these two countries are in prosperity or in poverty. There are 4 economic indicators that can be used to identify them as a low or high income country including GDP, GDP per capita, GNP, Economic growth, and inflation. GDP is the total market value of all final goods produced within a country during a specific period. GDP can be measured by the income method; that means GDP is one of the factors that impact on the income of a country. There higher GDP is, the higher income of a country is. The GDP of Australia is US$1,339.54 billion and the GDP is Vietnam’s GDP is $193.6 billion. It can be seen that Vietnam’s GDP is much lower than Australia’s GDP. GDP per capita, total value of final goods …show more content…
Australia is in prosperity for some reasons including proximate and fundamental causes. For proximate causes, physical capital, human capital, and technology can make GDP per capita improve. The educational system in Australian is rank highly by global standard (Business Insider, ). Also, 40% of Australia population has been born overseas. In other words, Australia has an advantage on human capital with the high number of skill labor and young population. That is one positive factors impacted on the high GDP per capita. Australia also adopt the new technology quickly; then, it may help Australia improve the productivity. For fundamental causes, culture, geography, institution are main factors that may influence the GDP per capita. According to Business Insider, Australia has the strong rule of law, which is fairly respect for property rights, excellent functioning public administration, and a good regulation system. One of the most important factors is recourse. Australia is rich for mineral resources. Australia has the highest iron-ore export amount to around the world- counted for 13.5% of the world’s total shipping (Chan, 2013). With the aforementioned reasons, Australia is confidently ranked in prosperity country group. In contrast, there are some disadvantages that may lead Vietnam is poverty. With under satisfaction of healthcare and insurance system, and low salary, the young Vietnamese people tends to move to other countries to live such as Australia, France, …show more content…
There are 3 main perspectives pointed out in this report. Firstly, the healthy of economy of a country can be measured by many tools including GDP, GDP per capita, inflation, GNP, and economic growth rate. Comparing with the world statistic, Australia is in prosperity group and Vietnam is standing in the low income country. Taking advantages from natural resources, human resources, technology, and well-established rule of law, Australia can be ranked in the top richest countries in the world. In contrast, Vietnam is still ranked in the low-income country group for reasons: unfair rule of law, lake of skill labor, and brain drain. Nevertheless, the economic growth rate in Vietnam is 5.45% (in 2015) which prove that Vietnam is trying to catch up with developed countries, there are some points that Vietnam needs to improve about the
The United States is a country known for its diversity; so when it comes to the diverse classrooms of today many would not think there would be an issue. However, many schools face a multitude of problems that affect pupil’s education. Roughly twenty-seven percent of Hispanic, Latino, and African-American students in the state of Louisiana fall within the poverty level and unfortunately do not obtain a decent quality education. In addition, only seventy-four percent of those Louisiana students go on to graduate high school (Spotlight on Poverty, 2015). The core portion of the issue concerning poverty in relation to education is due to the economy, work availability, and
Poverty in Developing and Less Developed Countries The world includes less developed countries and developing countries. Less developed countries are countries considered to be poor and often contain many people who are in absolute poverty. Developing countries are countries like India, which are gaining in wealth. There are two types of poverty within the world.
Due to the phenomenon of globalization, a substantial part of manufacturing has been moved overseas and goods are constantly being shipped all over the world. These processes are contributing to the advancement of international trade and economic improvement of many lesser developed countries. Unfortunately, globalization has also led to a significant growth of worldwide inequality. While the Western world has largely benefited from the changes, many countries in the developing world are facing great troubles adjusting to the new reality of global interconnectedness. Economic constrictions, unemployment, the weakening of government, corruption, and military conflicts are pushing people to leave their homes and seek better lives elsewhere.
The authors describe the differences between relative and absolute poverty and how poverty correlates with education. When thinking of education and poverty, educators need to consider that not all students will have access to the technology that you would like them to. While this is true, poverty can be more than economical. It also includes, poor nutrition and health, poor home conditions, unstable home life, and prejudices. A lack of education can lead to this poverty, and a student’s parents’ views on education can affect how their child values theirs. Poverty can also lead gifted students to not reach their full potential, for impoverished students do not always have the same opportunities as their peers. Less poverty, often times,
Whether if it’s millions of homeless people, or countless underpaid hard workers, poverty is a major issue in the United States. We cannot propose to solve any issues, without the discussion on poverty and how important it is to find solutions to this dilemma. Poverty is the source for many problems the U.S. face, and ignoring it, is only making it worse. My proposal to solving this growing problem is to increase minimum wage, improve government funding and work support programs, and lower the cost of tuition to colleges and universities.
In the world there are at least one billion children that are living in poverty. There is at least three billion people in the world that live on less than $2.50. (Shah, 2013) Poverty can be seen everywhere around the world. Carl and Belanger (2012) states that poverty happens when the distribution of wealth is not equally divided between all groups of people. Poverty in Canada is defined as poor quality of food, sleeping in poor quality housing, parks, or city streets, and on a daily basis it is difficult to make decisions on what is best for you and your family. Living in poverty will decrease your life span and health, and could lead to criminal offenses just to stay alive. Aboriginal people, immigrants from other countries, people with disabilities, single parents especially women, and injured workers are more susceptible to living in poverty. (Canada without Poverty, 2014) Research has shown that living in poverty is not based on the failure of an individual, but the failure in the government and elite systems around them. When the political and economic systems do not provide employment wages or social assistance benefits, it makes it difficult for the individual to get out of poverty living. Also when the public policy does not provide affordable living, child care, or health and social services for the individuals, it can leave the individual still in poverty. Through conflict theory, sociologists can determine the causes and effects of poverty. (Carl/Belanger, 2012)
In addition, Vietnam had and still has a Communist government and a socialist economic model. However, the Vietnamese are trying to move more towards a free market system. Meaning that the Vietnamese want a market economy where the forces of supply and demand are not controlled by the government, nor any other authority. Moreover, every members of the government are elected by Vietnam’s National Assembly. Additionally, Vietnam is one of the fastest growing financial country in the world with, according to bbc.com, a nominal GDP that reached about $170 billions. Also, Vietnam became one of the highest leading agri...
In the United States, more than one in three women live in poverty or on the brink of it (Patron, 2014). The current federal poverty level starts at $16,020 for a family of two, $20,160 for a family of 3, and so on at increments of slightly more than $4,000 for each additional family member (Buteau, 2007). There are 106 million people in the United States that have incomes below 200 percent of the federal poverty level, or are low-income. About 42 million of these low-income individuals are women and 28 million are their children (Patron, 2014). This phenomenon of the disproportionate rate of the population’s poor being women is known as the feminization of poverty.
Case study on Brazil is used in this article to state that GDP does not give a true representation on the development status of a country.
In today 's society, there is 1 in 7 people living in poverty which is costing Canadian citizens’ money as they are paying for taxes. There are many standpoints in which people examine the ways poverty affect society such as Marx’s conflict theory. Marx’s conflict theory goes over how social stratification being inevitable and how there is a class consciousness within people in the working class. Another way that poverty is scrutinized is by feminization. Feminization is the theory that will be explored throughout this essay. Poverty will be analyzed in this essay to determine the significance of poverty on the society and the implications that are produced.
Vietnam has always been a poverty stricken country, with nearly 60% of the population being near the poverty line, but “by 2006 that figure had dropped
Over the years, the Philippines has gone from being one of the richest countries in Asia to being one of the poorest. It has experienced growth and development since World War II. The current administration under President Gloria Macapagal-Arroyo is aiming for a more rapid growth in the coming years. In 2004, the Philippine economy grew by 6.1% surprising everyone. In 2005, the Philippine peso appreciated by 6%, the fastest in the Asian region for that year. At present, the administration is meeting its expected target growth and is continually looking positive for the future.
Pham, Q.N. (2009) Impact of the global financial and economic crisis on Vietnam, a rapid assessment. Available at: http://www.ilo.org/asia/whatwedo/events/lang--en/docName--WCMS_103550/index.htm (Accessed: 3rd August 2010).
Economic development typically involves improvements in a variety of indicators such as literacy rates, life expectancy, and poverty rates. Due to the fact that GDP alone does not take into account other aspects such as leisure time, environmental quality, freedom, or social justice; alternative measures of economic well-being have been proposed. Essentially, a country’s economic development is related to its human development, which encompasses, among other things, health and education. These factors are, however, closely related to economic growth so that development and growth often go together.
Poverty in the Philippines The rich, the middle class, and the poor are described by the way we live and the amount of money one has. There are many different ways of describing what poverty is, whether it is by how you live or how much money you have. What is poverty and what does it mean to be poor? Not many of us know the true meaning of these terms.