Economies of Southern & Eastern Asia

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Presentation transcript:

Economies of Southern & Eastern Asia SS7E8.c - Compare and contrast the economic systems in China, India, Japan, and North Korea. Bell-Ringer - Explain how human capital and capital goods will have an effect on the GDP and GDP per capita of a country.

India set up a command economy in 1947. Since 1991, India has been allowing citizens a role in running some of India’s industries. Exports: Gems, Jewelry, Sugarcane, and Rice Industries: Technology & Service India- Type of Economy

GDP per capita: $1,500 (increases 8.5% per year) Literacy Rate: Men- 73%, Women-48% Human Capital: Invest heavily in education & English language training Capital Goods: Invests heavily in factories, modern machinery, & advanced Technology Growing population puts strain on environment/economy

China: “ A socialist market economy” China is transitioning from a command economy to a mixed market economy. The communist government is gradually allowing more private ownership of business and foreign investment. Main exports: Machinery and Technology China- Type of economy

Must keep up with growing population GDP per capita: $7,000 (increases by 8% each year) Literacy Rate: Men- 95%, Women- 85% Human Capital: New training and education enforced (not equally done in all regions-rural areas) Capital Goods: Government increases investment & use of modern equipment & technology Must keep up with growing population

Japan- Type of Economy Japan has a mixed market economic system. 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. Exports : ships, cars, and electronics Japan- Type of Economy

GDP per capita:$38,000 Literacy Rate: Men & Women- 99% Human Capital: highest investment in the world; part of culture & society Capital Goods: Leads in investment in advanced machinery, technology, and robotics; constantly updating and improving

North Korea-Type Of Economy A Command Economy: The government controls all the resources and decides what is to be produced. Farmers work on cooperatives where up to 300 families share the work. Major export: Minerals and weapons Main Import: Food and Petroleum

Too much of the country’s economy/money is spent on the military. GDP per capita: $1,000 Literacy rate: 99% Human Capital: Very little training Capital Goods: Focus on weapons and military goods Too much of the country’s economy/money is spent on the military. North Korea depends on massive food aid from other countries to feed it people.

Work Session Yellow - Role: Entrepreneur starting a business in another part of the world. Audience: Family members back the United States. Format: The format will be in a Postcard format. Task: The student will pick one country and will analyze the economic system within that country by explaining how life is for an entrepreneur based on GDP, the product being made, and the decisions the entrepreneur is allowed to make in a postcard to family back in the United States. Blue - Role: Entrepreneur starting a business in another part of the world. Audience: Family members back the United States. Format: The format will be in a Postcard format. Task: The student will pick one country and will analyze the economic system within that country by explaining how life is for an entrepreneur based on GDP, Literacy Rate, Capital Goods, the product being made, and the decisions the entrepreneur is allowed to make in a postcard to family back in the United States. The student must compare life in this economic system with life in the United States economy.

Work Session Green - Role: Entrepreneur starting a business in another part of the world. Audience: Family members back the United States. Format: The format will be in a Postcard format. Task: The student will pick two countries and will analyze the economic system within that country by explaining how life is for an entrepreneur based on GDP, Literacy Rate, Capital Goods, the product being made, and the decisions the entrepreneur is allowed to make in a postcard to family back in the United States. The student will pick the country they would choose to start their business in and compare that with the country they would least likely choose.

Closing Continuum