1) What is a primary-export-led development strategy? This is a growth/development strategy which is undertaken mainly by less-developed countries. It concentrates in producing primary products in order to export them to other countries. Less-developed countries are more appealed to this strategy as it does not require skilled labour and they have a comparative advantage in it due to its nature. As for the goods which they need for development but don’t have a comparative advantage in, they import it from other countries using the finance gained from the exports. 2) If the United States is relatively abundant in skilled labour (H) and Bhutan is relatively abundant in unskilled labour (L), which good will Bhutan export and which will it import? Why? Based on the Hecksher-Ohlin model which states ‘a country has a comparative advantage in producing goods that require as an input a factor the country possess in abundance’. Bhutan will export cotton and import computers from the United States. This is in accordance with the H-O model since Bhutan is abundant in an input factor of cotton...
Viewing it through the lens of economic progress, the garment industry notably contributes to Bangladesh’s GDP. It has become the largest foreign exchange earning branch mostly exporting clothing to the United States of America and Europe. Starting from the late seventies, Bangladesh’s garment
The major exports produced by Cambodia include goods from the agricultural, fuel and mining, and manufactures industries (“Cambodia – Trade Profiles”). Th...
Settled in the end of the fifth century, two groups established themselves in what is now present day Cambodia. The Champa controlled the central and southern part of Vietnam and the Funan is the southernmost part Vietnam and present-day Cambodia. Influences from both China and India were obvious as dance and music spread throughout the area. Ruling on its own till 1864 when the French absorbed it into French Indochina Along with Laos and Vietnam. For nearly a century, the French exploited Cambodia commercially, and demanded power over politics, economics, and social life. It was not until a leader Norodom Sihanouk proclaimed Cambodia's independence in 1949 which was later granted in 1953. Cambodia fell into chaos during the 1970’s as General Lon Nol and his connections to the Khmer Rouge brought Cambodia into a genocidal age. For a decade Cambodia was surrounded by despair and carnage until the reign of the Khmer Rouge ended in 1979. Slowly rebuilding of the nation began as outside countries and organization such as the United Nation helped to get Cambodia back on its feet. Plans were made for general elections by 1993 which lead to the constitutional monarchy that the country has today. With its cyclical and oppressive history, Cambodia future is optimistic with the economy growing rapidly due to industries such as tourism, textiles, oil and the traditional farming. Slowly the nation reaches to find its place among the other powerhouses in Southeast Asia and around the world.
The Heckscher-Ohlin (H-O) model is a general equilibrium model that shows the impact of different ownership of resources by countries on the trade (Feenstra & Taylor, 2011). This model shows a long-run effect as all factors of productions can move freely. Various assumptions are made in this model, including:
The objective of this paper is to examine how the development of a textile industry contributes to economic growth in the global economy. Because textile manufacturing is a labor-intensive industry, developing countries are able to utilize their labor surplus to enter the market and begin the process of building an industrial economy. Emerging economies then look outward to develop an export strategy based on their comparative advantage in labor costs.
The history of Liechtenstein, combined with its form of government, a constitutional hereditary monarchy can explain its geographic size. It was one of the several principalities of the Holy Roman Empire, which has survived to this day. Because it retained its royal family, political support is high. Its royal family brings a sense of individualism and national pride to a small nation which otherwise would have little reason for being sovereign.
Afghanistan has been in a constant state of chaos for twenty years. The Soviets invaded in 1979 and installed a puppet regime. After they withdrew their troops in 1989, rival mujahideen (tribal) groups began to fight for the capital. By the time the Taliban came into the picture around 1994, the country had been devastated by war. Many Afghanis had fled to neighboring countries like Pakistan. An estimated 1 million lives had been lost. Now, bad conditions still persist. Afghanistan has one of the world's worst literacy rates; only three percent of women and less then twenty percent of men can read and write (Rashid, 107). A quarter of all children die before their fifth birthday. Life expectancy is only 43-44 years (107). Simply, life is hard, especially for women.
During the years between 1000 and 1400 the East Asian region saw extensive change and development concerning the nature of the elites that ruled respective countries. In China there was the growth of the examination culture, Japan experienced the emergence of the Samurai, Korea saw the growth of the Yangban, and Vietnam became content with a tribute system to China. Each of the respective countries grew and developed independently and for the most part were able to distance themselves from China and begin to form their own national identity along with their own system of ruling elites.
International students travel all over the world to study different lands education systems. Many of them come here to the United States of America, the land of opportunity. Many of them believe that if they come here they will have a better chance of doing what they have always wanted to do. I was given an assignment by my teacher to interview an international student I got their input on what it is like to be an international student here in the United States of America. I met Sameer, my international student, through some high school friends that go to the same college as him in Tennessee. He was more then happy to tell me about what he is going through as a student in the United States. Not only did I learn about him, but his country as well. We will get to know more about Sameer and the country of Afghanistan. Focusing on the Economy of Afghanistan and how it has changed since the September 11, 2001 tragedy.
This war-torn land shows nothing but death and the dying. The ground is muddy from the rain, it’s dank and sodden. Up above the trench line is barbed wire and … nothing else. No birds, no animals … no people. A few dead bodies of the brave men going to assassinate the enemy by night fall, but stopped dead in their tracks, they got picked off by the sharpshooters. No! No one ever makes it! Never! There is a constant sound of gun blasts and the sound of explosions from the grenades. The dark is lit up by the flashes of the guns against the silver clouded sky. Nobody dares to look up for more than a few seconds otherwise they will be taken out.
The main component is trade deficit. A country experiences a trade deficit when it imports more goods and services than it exports. The next most
When looking through the topic of development, two drastically different ways to assess it arise. The majority of the western world looks at development in terms of per capita GNP. This means each country is evaluated on a level playing field, comparing the production of each country in economic value. Opposite this style of evaluation is that of the alternative view, which measures a country’s development on its ability to fulfill basic material and non-material needs. Cultural ties are strong in this case as most of the population does not produce for wealth but merely survival and tradition.
Bhutan is a small country located in the Himalayas. It does have a richly scenic land though. There are broad, grassy valleys; forested mountain ranges, and heavily wooded jungle areas. There are three geographic regions in which the country is divided. Northern Bhutan lies in the Great Himalayas where the mountains reach as high as 24,000 ft. and the weather is cold. Central Bhutan is in the middle of the Himalayan region where there are several fertile valleys. The Duars plain, along the southern border of Bhutan is a hot, humid, and rainy area. This jungle region is filled with malaria infested swamps. (Karan, 224)
In order for international trade to work well, governments must allow the world market to determine how goods are sold, manufactured and traded for all to economically prosper. While all nations may have the capability to produce any goods or services needed by their population, it is not possible for all nations to have a comparative advantage for producing a good due to natural resources of the country or other available resources needed to produce a good or service. The example of trading among states comprising the United States is an example of how free trade works best without the interve...