gdp per capita: highest 1900 #1 united kingdom #2 new zealand #3 australia #4 united states #5...
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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
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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.
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Developing World• South• LDCs• Third World–Latin America–Asia–Africa
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Western Hemisphere Colonized(current borders included)
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Colonized Africa
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Colonized Asia 1910
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Middle East Colonized (roughly WWI)
http://www.npr.org/news/specials/mideast/the_west/colonies_map.html
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Independence• Latin America (by 1823)•Middle East (after WW I)• Africa and Asia (post-WW II)
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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
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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
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The Flow of Money
$$$$$$: cars, computers, manufactured goods
$$: bananas, coffee, timber, minerals
EDCs LDCs
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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)
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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-?
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4. Group Efforts• NIEO• UNCTAD• Group of 77• OPEC
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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
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Four Tigers• Hong Kong Singapore
• South Korea Taiwan
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Tokyo 1945
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Tokyo 50-60 Years later
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Seoul, ROK
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Singapore
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Taipei, Taiwan
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Hong Kong, China
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Integrating into the World Economy
PartsUnfinished imports exports
products Finished Components products
Export Export ProcessinProcessin
ggZoneZone
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The Biggest of the Big Emerging Markets
• China 1978• Deng Xiaoping
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Shanghai, China
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Guangzhou, China
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Indian Reform 1991
P. V. N. Rao Manmohan SinghPM 1991-1996 Min of Finance 91-96
PM 2004-present
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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
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A Long Way to Go
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Poverty in India
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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
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