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Superpowers Geog > Economics 2.0 > Flashcards

Economics 2.0 Flashcards

1
Q

India’s urbanisation %

China’s

Who’s % rate of urbanisation is greater?

A

India : 32.5%

China : 55.5% (from 2010)

China’s urbanisation rate = greater

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2
Q

Agriculture as % of GDP

India :

China :

A

India : 18%

China : 10%

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3
Q

Services as % of GDP :

INDIA :

CHINA :

why is this?

A

India : 54%

China : 48%

India leapfrogged over adopting mass industrial employment

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4
Q

Gini Coefficients:

India :

China :

What does this show?

A

India : 33

China : 47

China has greater inequality than India

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5
Q

GDP per capita;

India :

China :

USA:

A

India : $1,580

China : $7,590

US : $54,000

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6
Q

What figure suggests that China will surpass the USA in GDP between 2030-50?

A

Figure 12

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7
Q

What does Figure 12 represent the following dates as;

2030 :

2050 :

A

2030 : bipolar

2050 : unipolar

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8
Q

What % of global GDP does the USA make up?

A

24%

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9
Q

2016 GDP growth rates;

India :

China :

USA :

A

India : 7.3%

China : 6.9%

USA : 2.2%

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10
Q

What is happening to the following growth rates?

India :

China :

A

India : on increasing trend for next couple of years

China : on declining trend
currently at 25yr low

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11
Q

Fortune 500 companies;

China :

India :

USA :

What has been happening to each since 2004?

A

China : most rapidly growing rate
95

India : doubled
8

USA : declining
128

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12
Q

What is notable about CHina’s GDP and GDP per capita in Asia?

A

largest GDP in Asia - unipolar

but definitely not in GDP per capita (Japan / S. Korea)

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13
Q

What happened in 2016 in relation to GDP growth rates?

A

India overtook China’s GDP growth rate for first time since 1999

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14
Q

Name of the trade bloc currently proposed between ASEAN and 6 New Countries?

A

Regional Comprehensive Economic Partnership

RCEP

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15
Q

Who would the RCEP include?

A

ASEAN and 6 New Countries

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16
Q

What view suggests that Chinese labour decreasing can be an opportunity for India?

A

Livemint (view 3)

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17
Q

What will an increase in growth / incomes for China and India mean for TNCs?

A

drives increased consumption

new markets for TNCs

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18
Q

What % of China’s exports are now telecommunications?

A

25%

All top 5 exports are

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19
Q

Fraction of oil imported;

India :

China :

A

India : 2/3

China : 1/3

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20
Q

What industry in India is the 4th largest in the world?

Why is this?

A

Pharmaceuticals

Clinical trials cost 10% of in the USA

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21
Q

What is India lacking to compete effectively with China’s manufacture and production?

A
  • reliable power supply
  • infrastructure for ‘just in time’ markets
  • attractiveness to FDI / TNCs
22
Q

Reasons for the USA remaining global economic hegemony?

A
  • 80% of transactions still $
  • largest stock market globally
  • IMF / WB HQs
  • currently highest GDP
  • higher income per capita than China / India
23
Q

Factors converging to slow China’s growth;

A
  • industrial overcapacity
  • debt overhang
  • decline in population
  • competition from other BRICs
  • inefficient allocation of foreign investment
24
Q

Define : INFRASTRUCTURE

A

the basic physical systems and services that a country or organisation require to work effectively

25
Q

How much does China spend of its budget on infrastructure?

A

Half of its budget

Accounts for half of all infrastructure in the Asia-Pacific

26
Q

X3 examples of Chinese infrastructure

A
  • Maglev HSR 430kmph
  • S-N Water diversion
  • 3Gorges
27
Q

Education spending as % of GDP
and literacy rate

China -

India -

A

China - 16.3% GDP
95% literacy rate

India - 11.3% GDP
under 70% literacy rate

28
Q

Number of people in poverty;
and % of population

China -

India -

A

China - 157million
11% of population

India - 400million
almost 1/3 of population

29
Q

How many lifted out of extreme poverty since 1980 in China?

A

80million

30
Q

% of India’s budget spent on subsidies
amount spent on subsidies

Why are subsidies required?

A

15% of spending
$60billion

to help lower-income families to afford basic needs for survival

31
Q

Why isn’t India’s subsidy spending sustainable?

A

growing population
BR highest in poor, rural areas

energy and food prices will increase as scarcity increases

32
Q

Life expectancy at birth:
% of GDP spent on healthcare

China -

India -

A

China - 76
12%

India - 68
8%

33
Q

% of GDP spent on military;

China -

India -

USA -

A

China - 2%

India - 2.5%

USA - 4%

34
Q

Actual spending on military;

China -

India -

USA -

A

China - $190billion

India - $50billion

USA - $580billion

35
Q

What fraction of USA’s spending does China spend?

A

only 1/3

36
Q

Trend on military spending;

China -

India -

USA -

A

China - increasing

India - plateau since 2009

USA - decreasing

37
Q

Global weapons exports as % of total global exports;

China -

India -

USA -

A

China - 5%
ranks 3rd

India - lacks indigenous defence industry

USA - 30%
ranks 1st

38
Q

Reasons why each may have greater military dominance;

China -

USA -

A

China - largest military by man power

USA - greater technological advancement
bases in all countries
powerful alliances

39
Q

Define DEMOCRATIC DEFICIT

e.g

A

when a country’s development is greater than its level of democratic governance

e.g China

40
Q

Why are countries with democratic deficits arguably fragile / volatile?

A

since increase in per capita growth has historically been a trigger for democratisation
e.g S.Korea

41
Q

What does India’s democracy index rank India?

What does this suggest?

A

35th globally

suggests it is a ‘flawed democracy’
since it is the biggest but tainted w/ corruption

42
Q

Democracy index score: / category

India -

China -

USA -

A

India - 7.7
flawed demcoracy

China - 3
authoritarian

USA - “full democracy”

43
Q

% of parliamentary seats which are held by women;

India -

China -

A

India - 12%

China - 25%

44
Q

Which figure shows comparison between democracy and economic development?

A

Figure 7

45
Q

What was the trend for Asian tiger economies and democracy?

A

industrialise rapidly and then move towards increased democracy

46
Q

When were the Umbrella Riots in Hong Kong?

When was the Tiananmen Square protests?

When have the Communist party been in power since in China?

A

2014 - umbrella riots

1989 - Tiananmen square

Communist gov since 1949

47
Q

Who do you vote for in China?

Who do you vote for in India?

A

China - only the Local People’s Congress

India - the LOK SABHA (lower house)
who then chooses the PM

48
Q

What has Indian protectionism resulted in which makes it more difficult for consumers?

How can this be tackled?

A

high inflation rates raise domestic prices

allowing FDI into India more would allow for competition and lower inflation
= less requirement for subsidies

49
Q

Why is value added output not as beneficial for a country when in an SEZ?

A

value added output is from foreign owned plants

much of wealth isn’t translated into domestic increase in QoL

50
Q

What does the World Trends Report 2030 suggest about the USA’s position and China overtaking it economically?

A

USA will remain FIRST AMONGST EQUALS

USA will remain predominant despite China overtaking via GDP
since USA has preeminence across a range of POWER DIMENSIONS + LEGACIES OF LEADERSHIP

51
Q

Examples of Indian cultural influence

A
  • Bollywood ticket sales X2 than of Hollywood

- Cuisine

52
Q

A factor in spreading Indian cultural influence around the world;
and example

A
  • Emigration

e. g UAE is one of India’s top 5 export destinations - largely due to high Indian expat population

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