...designed a lot of beautiful cars for the Chinese market. However, U.S. carmakers know that the most important market is not China, for whom the most important market is the United States. American car companies made cars sold in the U.S. and only a part of the vast majority of exports, although it was noted that Japanese cars are very popular in the U.S; however, most Americans still choose the American car. Why? Because Americans think that the U.S. auto industry is very important, and to buy American cars means provide a support to the automotive industry. Began in the 2008, the financial crisis brought the U.S. economy a lot of negative effects, and most of American people put their hopes of economic recovery on the automotive industry. Because they believe that recovery in the automotive industry will drive the revitalization of other industries. There is no doubt that the U.S. auto industry and economic development are closely linked, and is very important for the U.S. auto industry. Why the automobile industry is so important to U.S economic development? The United States is one of the world’s most developed and richest countries, and the U.S. auto industry has long been an important support to the country’s development. Automobile manufacturing industry in the United States has a long history, and the lives of every American may be associated with the automotive industry. Why Americans cannot live without car manufacturing industries? Obviously, the answer is the automotive...
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...South vs. North Divide in Development This assignment talks about why northern states are less developed than southern states. Since overall economy of India has improved and the growth rate overall is good but if we compare the growth rate of southern states and some western states it is more than that of northern states (excluding Delhi and Punjab). This is the main reason why the overall growth rate of the country is not booming. In this study I have examined the state wise performance of more developed states and why they have developed more than other northern states. Majorly I have talked about following sectors which affect the growth of a region. They are:- * Population * Agricultural * Electricity and power supply * Illiteracy * Industrial development * Poverty * Income * Government impact The performance and growth totally depends upon the growth and development of all the states. If all the states individually will perform well then naturally India will do well. 1. Population :- It plays a major role in the development and growth of the region. Higher the population it will be difficult for the state to maintain the GDP rate and also unemployment become more. In totally the northern states as a whole has remained the highest populated area since independence. The population growth is 2.4 per cent which is higher than the southern region of India. Uttar Pradesh, Rajasthan, Bihar and Madhya Pradesh have the most of...
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...Comparative Studies of Industrial or Employment Relations Assignment 1 Trimester 3 2013 HRM 603: Comparative Studies of Industrial or Employment Relations Assignment 1 Trimester 3 2013 Name: Cagi Merelita ID no.: 2011001230 Table of Contents Introduction 1 The development & evolution of IR/ER system 2 The development & evolution of IR/ER system in the Fiji Island 3 The IR/ER system of Australia against that of the Fiji Islands 4 The emerging issues & recent trends in IR/ER in both nations 5 Considered key roles & responsibilities by the major actors in an IR/ER system in each country 6 Major actor’s roles & responsibilities that are considered most significant in an IR/ER context & why 8 Bibliography 9 Introduction Employment Relations are the employer and employee relationship, it also describes the relationship between workers and employers in business (Employer and Employee Relations, 2011). Employment Relations is important because it encourages motivation, it builds up the reputation of a worker and the business through the increase in number of potential customers, investors and staff, increase in productivity output, efficiency and profit levels (Employer and Employee Relations, 2011). With the changing industrial landscape in every country or nation, the growth of new townships/cities and the dispersal of activity, a process of ‘industrial culturalisation’ of workers...
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...Economic development is the increase in the standard of living of a population. Economic development includes economic growth among the main criteria. Economic growth is a sustained growth from a simple economy to a modern one. The study of economic development includes theories of the causes, the process, and the policies by which a nation improves the economic, political, and social well-being of its people. Economic development theories relate to the causes of industrial-economic modernization, the phases of economic development, and the organizational related aspects of enterprise development; it requires sociological, economic, and cultural researches on the evolution of markets and industrial organizations within modern societies. From other perspectives, economic development of embrace improvements in a variety of indicators such as literacy rates, life expectancy, poverty rates, health, and education. In fact, these indicators are more related to economic growth so that development goes often with growth. Scientists often argue that poor countries and mainly “third-world countries” have experienced very fast economic growth with barely little economic development and especially during the periods where they served as resource providers for industrialized countries. Other economists claim that economic growth causes or contributes to economic development, because according to this perspective, because at least some of the increasing income is spend on human sustainable...
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...Infrastructure Development for the Economic Development in Developing Countries: Lessons from Korea and Japan Byoungki KIM No. 11 November 2006 Graduate School of International Cooperation Studies Kobe University Infrastructure Development for the Economic Development in Developing Countries: Lessons from Korea and Japan Byoungki KIM Abstract Infrastructure is indispensable to achieve the main development targets in developing countries, such as urbanization, industrialization, export promotion, equitable income distribution, and sustainable economic development. Late developing countries can benefit from previous development experience provided they choose the right model1. However, the relationship between infrastructure and economic growth is still frequently debated. This paper will examine the experience of Korea and Japan in infrastructure development for economic growth to acquire some valuable lessons that infrastructure development contributes to economic development in developing countries. 1. Introduction The lack of infrastructure is hindering the economic growth in many developing countries2. Infrastructure investment has the effects of contributing to increase the productivity and it is expected to contribute to future economic growth in developing countries where infrastructure is still insufficient. Therefore, infrastructure development is one of the most integral parts of the public policies in developing countries. Supporting infrastructure development in...
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...A Research Paper On Why Capitalism Succeeded In Generating An Industrial Revolution In Other Countries But Failed In The Philippines Submitted by Manuel Ortega Abis Student No. 11-71-003, BPA Special Program Batch 8-A CAPA, Universidad de Manila Professor Ronaldo J. Navata PREFACE The research materials and references used in this research paper were managed to be gathered through unlimited internet hours and limited library hours, but the pages on the web and the pages of the book offered equal enlightenment and enjoyment. The premises and conclusions built and reached in this paper are products of the researcher’s serious analysis of the Philippine economic situation. The researcher, however, is praying that his objectivity and the sincerity of his language shall not fail him in his own humble attempt to bring this mini-thesis to its just and proper course and closure. The twin causes formulated in this paper are generally subdivided into two: the concept of economic will (policy system of governance) and the concept of economic ownership (property system of the governed). Further reading is advised on critical and related topics of this paper. For the economy, these words: there is no such thing as the co-existence of freedom and equality. God bless the Philippines! ______________________________________________________________________________ ...
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...1) Identify the factors which account for the growth of the manufacturing industry in Malaysia and assess their relative importance. Malaysia is classified as one of Asia’s NICs on the basis of its rapid economic development. Along with its southern and northern neighbours Indonesia and Thailand, Malaysia is classified as a “second wave” Asian Tiger, rather than a first like South Korea and Singapore are. It is more than 30 years since multinational companies, with headquarters in North America, Western Europe and Japan, began relocating and expanding units of production in selected Asian countries to take advantage of lower costs of production. As a result this has accounted for the growth of manufacturing industry in Malaysia. The first factor that explains the economic miracle of industrial growth in any of the Asian countries is cheap labour. During the 1970s, increasing personal prosperity in MEDCs fuelled the growth of the consumer society, which in turn accelerated the demand for a wide range of electrical and other household goods and clothes. These are either assembled in factory production lines, or are made using high inputs of labour. Cheap labour was a vital factor in terms of kick-starting the revolution of Malaysia’s manufacturing industry, it offered many large companies the incentive to locate there in the first place, such companies as; Hewlett Packard, Bosch and Fairchild - delivers energy efficient power semiconductor, analog, discrete & optoelectronic...
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...The Industrial Revolution The term Industrial Revolution refers to the social and economic changes that led to the transition from an agricultural and commercial society to a modern industrial one. This revolution relied on machinery instead of basic tools. This happened in Great Britain in the middle of the 18th century until the middle of the 19th century. The Industrial Revolution spread to other parts of Europe as well as other parts of the world. The period of explorations from the 14th to the 16th centuries helped in laying the foundations for the Industrial Revolution. Because of the explorations and subsequently colonialism, gold and silver from the New World flooded Europe. Prices of commodities rose, industries bloomed and a money-based economy fully developed. The expansion of trade and the economy based on money led to the creation of financial and lending institutions. Thus, the necessary factors for the emergence of an Industrial Revolution had already been established in the 15thcentury. The term Industrial revolution does not imply that changes happened only in the industry. In fact, the rise in the number of factories, the economic changes and the new inventions in science all had a great impact in the lives of the people in Europe and even the whole world. THE RISE OF THE INDUSTRIAL REVOLUTION IN GREAT BRITAIN From the 18th to the 19th centuries, Great Britain was the leading force in industry. It had large deposits of coal and iron. Because...
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...“Celtic Tiger”: The rise of Ireland to an economic successful country for foreign investment K. Siebeneicher ENG 240 Communications for Business and the Professions Ireland’s improvement from a country dominated by poverty and violence into an economically as well as financially successful country has not only turned it into one of the most successful countries in the European Union but also into an attractive choice for foreign investors from all over the world. If somebody is asked what Ireland is famous for most likely the answer will be Guinness- beer or Saint Patrick’s Day. Most people know Ireland as a popular tourist destination located in the western part of Europe. Well-known for its beautiful landscape, historical remnants and ruins of its fascinating history Ireland attracts millions of tourists every year. Whether tourists plan to visit some of the several ancient Castles, such as Trim Castle, ancient monuments such as the Beaghmore Stones or enjoy themselves playing golf, going fishing or watching horse racing Ireland offers anything a person is looking for in a vacation. (History & Heritage, 2008) Although its history and landscape it interesting and beautiful, Ireland is also branded for its troubled and violent history which includes diseases, starvation, wars and terrorism. Not many people are acquainted with the fact that after the period of violence and struggle, around 1990, crucial changes in the government were made and strategies...
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... The economic damage has varied significantly - minor in Singapore but very substantial in Thailand. The floods have once again brought the twin issues of disaster management and development to centre stage. With climate change and its effects expected to increase the magnitude of water-related disasters, it is important to rethink why some of the current flood disasters turned out to be unmanageable, with unprecedented human and material losses. Flooding is older than humankind, and water, whether in excess or in scarcity, has always been of concern to humans, going back to the biblical tale of Noah's Ark. Important civilisations emerged on the banks of major rivers like the Nile, the Tigris-Euphrates and the Ganges-Brahmaputra, for the availability of water and fertile soils assuring plentiful food. With the Industrial Revolution and urbanisation, the emergence of cities became an important trend. However, living on riverbanks leads to problems. Historically, for Asia, floods have been a regular and integral component in the life. Because Thailand's recent floods inflicted such social, economic and environmental costs, it is necessary to reflect on the problems and lessons learnt, so that the situation is not repeated in Thailand or other Asian countries. Bangkok is built on the banks of the Chao Phraya, and its existence is intimately linked with the river. The city benefitted from the river, its fertile delta and its port, and has emerged as an important economic and commercial...
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...Gerschenkron and the political economy of late capitalist development Ben Selwyn Available online: 25 Jul 2011 To cite this article: Ben Selwyn (2011): Trotsky, Gerschenkron and the political economy of late capitalist development, Economy and Society, 40:3, 421-450 To link to this article: http://dx.doi.org/10.1080/03085147.2011.574425 PLEASE SCROLL DOWN FOR ARTICLE Full terms and conditions of use: http://www.tandfonline.com/page/termsand-conditions This article may be used for research, teaching and private study purposes. Any substantial or systematic reproduction, re-distribution, re-selling, loan, sub-licensing, systematic supply or distribution in any form to anyone is expressly forbidden. The publisher does not give any warranty express or implied or make any representation that the contents will be complete or accurate or up to date. The accuracy of any instructions, formulae and drug doses should be independently verified with primary sources. The publisher shall not be liable for any loss, actions, claims, proceedings, demand or costs or damages whatsoever or howsoever caused arising directly or indirectly in connection with or arising out of the use of this material. Economy and Society Volume 40 Number 3 August 2011: 421Á 450 Downloaded by [University of Sussex Library] at 03:33 31 August 2011 Trotsky, Gerschenkron and the political economy of late capitalist development Ben Selwyn Abstract...
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...European Journal of Business and Management ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online) Vol 4, No.8, 2012 www.iiste.org The Role of Entrepreneurship in Economic Development: The Nigerian Perspective Dr. Mrs Ann Ogbo AGU CHIDIEBERE NWACHUKWU Dept. Of management, University of Nigeria, Enugu Campus. PMB 011 *E mail of the correspondence author: annogbo@yahoo.com brightchidi@yahoo.com Abstract The aim of the paper is to develop and analyse the contributions of entrepreneurship in the economic development through SME development in Nigeria. A total of 100 SMEs were randomly selected from a cross section of a population of all SMEs spread around some states of Nigeria and covering virtually all forms of enterprise. Participants were selected through a simple random sampling. The responses to the questionnaires were complemented with personal interviews of some SMEs operators. The responses of the participants were analyzed using the statistical package for social sciences (SPSS), which generated the frequency distributions, means, standard deviations, chi-square statistics, analyses of variance, etc of the responses. The hypotheses of this research which were tested at 0.05 level of significance using chi-square statistics hinged on identifying the greatest problem which SMEs face in Nigeria, the identification and ranking of the top ten problems or challenges of SMEs in Nigeria and the relationship between the form and nature of the business enterprise and its sources of funding...
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... Overall, the SME FDI is currently an extremely valuable initiative. Through appropriate and careful analysis of the data, public policy can be directed yet more efficiently to further improve competitive advantage of Canada's SMEs. In particular, the baseline survey associated with the SME FDI is an extraordinarily valuable research undertaking. It provides the potential to assess directly the extent to which financing gaps might occur in the capital markets on which SMEs rely. This is an important issue in practical terms, in terms of the role of public policy, and in terms of economic and finance theory. The SME FDI baseline survey data provides, for the first time internationally, a means of empirically testing Nobel prize-winning ideas related to information asymmetry and capital rationing. The data provides a means of providing yet better guidance for public policy with respect to addressing potential capital market imperfections that might constrain growth and economic development of SMEs. As designed, the research initiative can and will provide valuable information about these issues. In summary, the baseline survey undertaken as part of the SME FDI is a potentially invaluable resource with respect to the design, targeting, implementation, and follow-up assessment of public policy approaches to nurturing SME growth and viability. The outcomes of this research process could help Industry Canada and its partners to provide Canadian SMEs with substantial competitive advantage...
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...Why did special economic zones succeed in China? Word Count: 2479 November 26, 2013 Why did special economic zones succeed in China? !2 Abstract The purpose of this paper is to find out the reasons behind the success of China’s special economic zones (SEZs). This paper examines different policies that China implemented in the SEZs and other advantages that SEZs possess while other regions in China do not in an attempt to find out factors made so successful. The reasons behind the success of SEZ in China can be divided into two different aspects: economic and political. This paper is mainly separated into two parts. The first part describes the political changes that China has made and how these changes benefit SEZs. The second part explains how different economic policies that are implemented and advantages SEZs have contribute to their success. Introduction Ever since its establishment, the Chinese government had been following the Stalinist economic model, a communism political-economic system created by the Soviet Union (Zhang, 1989), in which there was absolutely no consideration for the role of the market. This economic system undoubtedly benefited China in the very beginning. Yet, China’s economy had dropped significantly after a few decades, especially the time during the Great Leap Forward (Zhang, 1989). Not only did China suffer from domestic problems, such as outdated production technology, low industrial productivity, and declining...
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...Abstract This paper is to discuss the implications of developing countries. The developing world has implications in the overall economic prosperity. Globally, it is reported that the top 1 percent of income recipients receive about 15 percent of worldwide income, and the top 5 percent receive 40 percent of all income. Meanwhile, the poorest 20 percent receive only 1 percent of the global income. This paper attempts to unlock the significant factors that affect income inequality. In 1963, Simon Kuznets derived the inverted U hypothesis from which he inferred that through the course of development, as per capita income increases, initially, income inequality will increase before it starts to improve. In this paper, I will be using data on 61 countries, an inverted u pattern is found. The labor surplus model supports that the share of labor in industry and high population growth rates explain the inverted U. Economic Disparity Economic growth refers to a rise in national per capita income and product. However, economic growth does not mean that there is improvement in mass living standards. It can be a result of increase of wealth for the rich while the poor have less or no improvement in their living standards (Gillis, 70). This uneven distribution of income is referred to as income inequality. There is much income inequality existing in individual...
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