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33 Cards in this Set
- Front
- Back
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What was the first phase of the NIC's |
The Asian Tigers: Japanese TNC's were looking to invest in areas for manufacture - the Asian Tigers were chosen as they were industrialising independently of Japan. (1960's-1970's) |
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What was the driving force behind South Korea's success |
Chaebol (conglomerates): large family-owned industries which produced a wide range of goods.
e.g. Samsung produces electronics, newspapers, hotels and insurance companies. Daewoo produces pianos, cars, ships and computers |
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What was the second generation of the NIC's |
TNC's re-locate from the Asian Tigers to countries with cheaper running costs, e.g. Malaysia, Thailand and the Philippines (1970's-1980's) |
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What was the third generation of NIC's |
TNC's re-locate from Malaysia, Thailand and the Philippines to China and India. Since then, China has had rapid economic growth. |
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What was the fourth generation of NIC's |
RIC's: Indonesia, Chile and Vietnam |
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What was the fifth generation of NIC's |
BRIC's: a term coined by the chief economist at Goldman Sachs in 2001. They account for 40% of the world's population and 25% of global GDP. Average economic growth rates averaged at 6.5% between 2000-2010. Future growth is expected due to the youthful populations and emerging middle classes. |
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What was the sixth generation of NICs |
MINT's: Mexico, Indonesia, Nigeria, Turkey. Mexico: has overtaken Brazil in terms of investment through their youthful population, large educated workforce and large consumer market. Indonesia: is becoming less corrupt and growing more economically Nigeria: the largest growing economy in Africa Turkey: ? not part of the EU, large inflation problems and large debit to IMF. |
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What are the common factors in NIC's |
- Large population providing big internal market - Openness to globalisation - Switch from agricultural to industrial economies - TNC's based and operate in them - Strong political leadership - Strong education system - Development zones to attract TNC's -Geographical location - Good infrastructure - Investment - Good infrastructure |
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Why are the NIC's so successful (China) |
- in the last 30 years China has had massive economic growth - the growth was stimulated by the liberal economic reforms introduced by the Chinese government form 1978 - China shifted from a command economy to a market based one - open economic zones were created in Shanghai, Guanghzou City and the Pearl River Delta - the private sector in China now generates 70% of the country's income - by 2020, China will overtake the USA as the world's largest economy
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Since when has annual economic growth exceeded 10%
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2002 |
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When will China overtake the USA as the world's largest economy?
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Where has Chinese companies begun to invest
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Asia and Africa |
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Give a statistic to support China as unequal
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a third of its wealth is concentrated in 1% of its citizens |
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How much did the average net worth of a Chinese household rise between 2010-2012
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17% |
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Outline the Gini coefficient |
A figure of zero represents absolute equality whilst 1 represents absolute inequality |
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Give a statistic to support China getting more unequal in relation to the Gini coefficient
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20 years ago it was 0.45, but by 2012 it has risen to 0.73. |
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What is the US Gini
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0.39 |
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What is the UK Gini
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0.34 |
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What is the Italy Gini
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0.32 |
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What is the Costa Rica Gini
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0.49 |
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What is the Indonesia Gini
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0.38 |
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What is the Bangladesh Gini
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0.32 |
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What is the german Gini
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0.31 |
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What is the swiss Gini
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0.3
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What is the Slovenia Gini
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0.23 |
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What is the South Sudan Gini
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0.46 |
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Give a statistic to suggest the USA is also becoming more unequal
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GDP has increased by 8%, yet median income is down by 4%, the number of homeowners has also declined by 4% |
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How has China's economy progressed
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By focussing on manufacturing and exporting, China's economy has progressed from one based on the production of low wage products (textiles and footwear) to high wage products (electronics and pharmaceuticals) |
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What is China's ranking on the environmental performance index
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116 out of 132 |
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When did China overtake the US as the largest emitter of greenhouse gasses
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2007 |
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What percentage of China's GDP is from pollution and environmental degradation
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10.5% |
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Why is it ironic that China is the world's leading energy producer
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90% of Chinese cities fail to meet national air quality standards |
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Discuss China's geographical inequality
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Towards the water shed, the tributaries of the river reach across into Yunnan, where incomes are but a tenth of those in Hong Kong and on par with those in Angola |
