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Superpowers Geog > Economics > Flashcards

Economics Flashcards

1
Q

Debt as a % of GDP :

India
China

A

India : 40%

China : 280%

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2
Q

How can shifting power / influence be described?

A

the power and influence of countries is fluid and constantly shifting

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3
Q

What ‘G’ group are India and China both part of ?

A

G13

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4
Q

What ‘G’ group are neither China nor India part of?

A

G8

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5
Q

When was current G8/7 set up?

A

1975
outdated
pre-economic reforms for I / C

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6
Q

China’s total GDP pre-release

A

$9.2trillion

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7
Q

India’s total GDP pre-release

A

$1.8trillion

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8
Q

USA’s total GDP

A

$16.7trillion

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9
Q

EU’s total GDP

A

$18.5trillion

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10
Q

How can slow / plateaued growth be countered?

A

via economy being flexible

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11
Q

X2 examples of how China has proved its economy is flexible;

A
  • mass economic reforms in 1980s

- 2015: relaxation of one child policy

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12
Q

Since when has India’s growth rate been slower than China’s

A

since 1999s constantly

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13
Q

When did China’s growth rate peak?

A

2005

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14
Q

What did China’s growth rate peak at in 2005?

A

14%

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15
Q

What is happening to China’s growth rate for GDP/

A

slowing down

e. g growth down to 6.3% in 2016
6. 0% by 2017

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16
Q

What is notably about China and its debt?

A

may suffer future debt overhang problem

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17
Q

What did CHina’s 5 year plan beginning in 2015 highlight? X2

A

emphasises need to increase innovation

and increase domestic consumption

18
Q

US GDP growth rate

A

2.2%

19
Q

More difficult to do business in India than China. India has been rated the X freest country to do business in?

A

123rd freest

20
Q

Hardest criteria of doing business in India

A

enforcing contracts

21
Q

money lost to corruption annually in India

A

$6billion

22
Q

annual healthcare budget in India

A

$4million

23
Q

Historical reason why India may have a business sector burdened by bureaucracy and corruption

A

post-independence
series of socialist governments with 5yr economic development plans
e.g government granted licences to businesses

24
Q

When did India receive an IMF loan? What conditions did this require / result in ?

A

1980s
pressure to liberalise economy
dismantling of the “licence Raj”

25
Q

How does the USA compare in terms of ease of doing business against I / C?

A

considerable lower scores

considerably easier to do business

26
Q

GDP per capita : china and India

A

India : $1,580

China : $7,590

27
Q

GDP per capita USA

A

$54,000

28
Q

Relationship between democracy and GNI per capita in general

A

the more Democratic an Asian country, the greater the GNI per capita

29
Q

When was Japan’s ‘lost decade’?

A

1990

30
Q

What caused Japan’s lost decade?

A

misallocating capital

ended up exporting capital to develop other countries e.g for resources
which caused slowing growth in Japan

31
Q

What does Japan’s lost decade show about future statistics?

A

future economic health of nations is at most a guess

32
Q

2013 prediction for China’s growth : PriceW.Coopers

A

1/3 of Standard Chartered’s prediction only 3yrs earlier

33
Q

When is China’s GDP predicted to equal USA’s?

Why may this not be on track?

A

2030

recent economic slow down - now at 25yr low for growth

34
Q

China-India trade balance

What does this suggest?

A

china operating @ surplus

India at deficit

India has dependence on China for manufactured goods
India is not one of China’s largest markets - so little dependence in that way

35
Q

Chinese exports to India value

A

$150billion

36
Q

Indian exports to China value

A

$17billion

37
Q

Why is India in a long-term trade deficit with China?

A
  • weak manufacturing sector of its own
  • since restrictive trade laws
  • inadequate power
    = does not meet needs of 1.3+ billion consumers
38
Q

Agriculture as a % of GDP :

India
China

A

India : 18%
reflects still rural population

China : 10%

39
Q

What % of all research and development spending is spent in the US?

A

30%

40
Q

What % of global transactions are done in dollars? $$$

A

80%

41
Q

Technology Access Index;
India
China

A

India - 0.32 (medium access)

China : 0.43 (medium access)

Superpowers Geog (10 decks)

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