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Emerging markets > Unit 1- development and underdevelopment > Flashcards

Unit 1- development and underdevelopment Flashcards

1
Q

Developed countries

A

The ones with high standards of living and material consumption.

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2
Q

Other words for “developing”

A
  • primitive
  • backward
  • undeveloped
  • underdeveloped
  • less developed
  • emerging
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3
Q

The problem with using the word “underdeveloped”

A
  • Problem: takes poverty as natural
  • Debate: results of an active process.
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4
Q

Economic growth vs economic development

A
  • Economic growth: increase in per-capita GDP
  • Economic development involves several complex, even contradictory goals and concepts.
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5
Q

How is economic development measured?

A

We use several indicators:

  • GDP per Capita: The sum total of the value of goods and services produced by a national economy divided by its population
  • Education and literacy- literacy rate, number of students per teacher and gender differences in literacy
  • Health of a population- life expectancy at birth, person per physician, infant mortality rates, daily caloric consumption per capita as a percentage of minimum national requirements
  • Consumer goods produced- quantity and quality of consumer goods is another measure of economic development (easy availability of consumer goods means a country’s economic resources have fulfilled basic human needs of shelter, clothing, and food)
  • Urbanization
  • The Human Development Index (HDI)
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6
Q

Economic structure of the labor force

A
  • The sectoral distribution of jobs of a country also informs about its economic development.

Three major categories:
* Primary sector—extraction of materials from the earth
* Secondary sector—assembling raw materials and manufacturing
* Tertiary sector—devoted to the provision of services

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7
Q

Largest share of labor force working in agriculture in Europe in 2012

A

Poland- 12,6%

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8
Q

Largest number of people employed in agriculture from 1800-2015:

A

Japan

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9
Q

Urbanization

A
  • Industrialized West—urbanization occurred with the Industrial Revolution

In developed countries: 75% live in the urban area

In developing countries: 40% live in the urban area

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10
Q

Urbanization of developing countries

A
  • urbanization in the developing world is different from the west

Today there is a vast bulk of urban growth in the developing world due to:
1) The majority are poor
2) Live in urban periphery
3) “Planet of slums”
– favelas, kampong, gacekondu, bidonvilles
– squatter settlements –> illegal (residents do not have the legal right to occupy the land they live on), breeding grounds of resentment, political activism

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11
Q

Megacities

A
  • more than 10 million people
  • only two in 1950 (London, NY) –> 38 in 2021
  • by 2030 most megacities will be in developing countries
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12
Q

The most populated cities in the world (2021)

A

1) Tokyo
2) Delhi
3) Shanghai
4) Sao Paulo
5) Mexico City
6) Cairo
7) Dhaka
8) Mumbai
9) Beijing
10) Osaka

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13
Q

The Human Development Index

A

“The HDI was created to emphasize that people and their capabilities should be the ultimate criteria for assessing the development of a country, not economic growth alone.”

“The HDI reflects the geography of human welfare and suffering”

Dimensions:
- long and healthy life
- knowledge
- standard of living

HDI = life expectancy index + education index + GNI index

  • Central America and Bolivia have the lowest scores for Latin America
  • Northwestern Europe is clearly distinguished from the remainder of Europe
  • Sub-Saharan Africa, South Asia and Southeast Asia have the lowest scores overall
  • The US and Canada lead the world
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14
Q

Malnutrition across the globe

A
  • 462 million adults are underweight
  • 52 million children are wasted (too thin for their height)
  • 155 million children are stunted (too short for their age)
  • 41 million children > 5 are obese/overweight
  • 1,9 billion adults are overweight- > 600 million of these are obese
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15
Q

What is the origin of the modern world?

A
  • the European societies of the late 15th and early 16th century when capitalism displaced feudalism throughout the continent
  • “true modernity” however arrived largely on the heels of the Industrial Revolution, the Enlightenment, and the massive political, social, economic, cultural, and technological changes of the nineteenth and twentieth centuries
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16
Q

What is one of the most striking characteristics of the modern world?

A

the division between the rich and poor countries

  • by the 19th century this division was achieved through an international system in which the wealthy minority of industrialized countries used countries industrialized using the primary products produced by the impoverished majority of colonies
  • the wealthy minority is increasingly engaged in office work and the masses in hands-on manufacturing jobs on the global assembly lines as well as in agriculture and raw material production
17
Q

the invisible hand

A
  • the creation of today’s world with a rich core and a poor periphery
  • the outcome of a systemic process
18
Q

What word does the Marxist tradition use to describe developing countries?

A
  • undeveloped
  • describes not an initial state but a condition arrived through the agency of imperialism
  • view them as an active process- not an initial or passive state
19
Q

Measures of development

A
  • income
  • equality
  • nutrition
  • health
  • infant mortality
  • access to education
  • civil liberties
  • distribution of labor force
  • ability to produce consumer goods
20
Q

GDP per capita in most highly developed countries

A

> $15,000

  • the UN estimates more than 1 billion people live on less than $2 a day = $750 per capita per year
21
Q

Who has the highest per capita incomes in the world?

A
  • Japan
  • North America
  • Western Europe
  • Australia
  • New Zealand
22
Q

Who has the lowest per capita incomes in the world?

A
  • The Middle East
  • Latin America
  • South Asia
  • East Asia
  • Southeast Asia
  • Sub-Saharan Africa
23
Q

Per capita purchasing power

A

> $10,000 per capita per year- developed nations
< $1000 - Africa

24
Q

US working sector

A

> 2% in the primary sector
< 75% in the tertiary sector

25
Q

Education and literacy rates- numbers

A
  • worldwide only 75 woman attend school for every 100 men
  • woman have lower literacy rates
  • in many nations the literacy rates of woman is less than 25% compared to 25-75% for men
  • greatest disparities between men and woman in The Middle East and South Asia
26
Q

Obesity vs malnourished

A

Worldwide there are more obese people than malnourished ones

27
Q

Healthcare numbers

A
  • developed countries share one doctor per 1000 people (One per 200 on average in Europe and the US)
  • in developing countries many thousand people share one doctor (10 000 per physician in most of Africa)
  • Africa has by far the worst access to healthcare–> followed by Southeast Asia and East Asia
  • portions of the Middle East are also lacking in medical care
28
Q

Child mortality

A

Developed countries:
- less than 10 out of 1000 die the first 100 days

Developing countries:
- more than 100 out of 1000 die the first 100 days

In much of Africa more than 10% of infants dont survive their first year

29
Q

AIDS

A
  • more than 20 million have died
  • an additional 45 million are affected with the HIV virus
  • the epicenter Is Sub-Saharan Africa- in some countries 40% of the adult population is infected
  • Sub-Saharan Africa accounts for more than 60% of the people living with HIV worldwide (25 million people)
  • In India- 50 million could be HIV positive by 2020
  • spreading rapidly in China
30
Q

Easy availability of consumer goods means:

A

a countrys economic resources have fulfilled the basic human needs of shelter, clothing and food, and more resources are left over to provide nonessential household goods and services

31
Q

Person to TV ratio
Person to automobile ratio

A

Developing nations:
TV: 150 to 1
AM: 400 to 1

In California: Almost 1 to 1

32
Q

Urbanization- numbers

A
  • 55% of the world live in cities
  • In parts of Latin America 75% or more live in cities- resembling North America and Australia
  • In Asia and Africa the proportions are much lower
  • China- only 20% live in cities
  • Wide swaths of Africa- less than 20%
33
Q

Urbanization in LDCs is primarily due to:

A

The massive influx of rural-to-urban migrants due, many whom are displace by:
- agricultural mechanization
- unequal land distribution
- low crop prices
- war
- high population growth in rural areas

34
Q
A

Emerging markets (7 decks)

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