Vietnam has gone through a similar transformation over the past 20 years and shifted its economy from a centrally planned economy to a Socialist-oriented market economy. ... Both countries began their economic development from their agriculture sector, and in both cases, their attempts to build a Soviet-style economy failed, during their pre-reform period (Vu, 2009) Today both countries are major players in the global economy, where Vietnam is the world's leading exporter of pepper, seafood, rice, coffee (Backman, 2007) and China is the second largest economy in the world after U.S. ... F...

• Word Count: 2154
• Approx Pages: 9
• Grade Level: Undergraduate

Not only that, I used globalization to imply the proclivity of a nation towards open trade and open economy. ... South Korea, at first, was not very significant in the world market so globalizing its economy was a risk for it did not have a stable economy to interact with other economic superpowers in the world. ... Currently, South Korea has many world-renown companies like Samsung, LG, and Hyundai; and as a result, it has a respectable standing in the world. South Korea has become such a vital part in the international market that it is part of the Group of 20 (G-20), an international forum...

• Word Count: 3315
• Approx Pages: 13
• Grade Level: Undergraduate

Globalisation refers to the development and deepening of world markets in capital goods and services by increasing occurrence of commercial exchanges across national boundaries. ... These economies struggle to achieve higher standard of all aspects and to compete with other economies. Such category of economies includes countries from Sub-Saharan Africa, South Asia and etc. 3) Newly-industrialised economies are economies in transition from operating as developing economies to high income economies. ... These economies attempts in transition from operating in a planned economy to the market ec...

• Word Count: 377
• Approx Pages: 2
• Grade Level: Undergraduate

Less Developed Nation: A country with a large rate of population growth, coupled with low national income, along with substantial unemployment and dependence on other countries for commodities Mixed Economy: An economy with characteristics of multiple types of other economies, where both public and private enterprises own pieces of each aspect Nationalization: To bring to a national level; to unify a country or to bring under the control of a nation, specifically industries or land Neoliberalism: "New liberalism ", a combination of liberal political views with an interest in economic growth...

• Word Count: 509
• Approx Pages: 2
• Grade Level: Undergraduate

Companies have been forced to change as the technology introduced around the world changes, and more importantly, they have had to be swift in adapting to change. ... Internet economy is projected to be over $350 billion. ... The New Economy has caused businesses to become more global in their operations, which in turn has lead to competition from all over the world. World exports increased from $1.3 trillion in 1970 to $4.3 trillion in 1995, in constant dollars. ... "Jane Fraser and Jeremy Oppenheim, of the consulting firm McKinsey & Company, have estimated that the value of the world economy...

• Word Count: 1087
• Approx Pages: 4
• Grade Level: High School

The Swedish model began in the early 1930s, a period the country was lagging behind the economy of developed industrial countries in the world. ... It was seen as a successful and progressive model concerning the social and economic development that took place in a mixed economy. ... Their emphasis was the possibilities of expanding the economy. ... The Stockholm economists believed that the policy model should refer to small but open economy. ... The long-term and chronic problems that faced the Swedish economy had a low efficiency in the public and private sectors. ...

• Word Count: 1862
• Approx Pages: 7
• Grade Level: Undergraduate

Economic Structure The Australian economy is structured primarily as a commodities exporter economy, however in recent years it has been moving in the direction of a knowledge based economy. ... Over the past 15 years, the Australian economy has evolved from mostly an agricultural based economy, with agricultural products and other commodities dominating the exports, to a well balanced economy that now relies on services and manufacturing to round out national exports. ... Australia is moving steadily towards becoming a totally Knowledge-Based Economy (KBE). ... It has steadily grown and...

• Word Count: 1402
• Approx Pages: 6
• Grade Level: Undergraduate

USA and Australia, for example, are First World countries compared to Africa and South Asia, which are developing nations. Studies show that a low GNP, poor health care, low literacy rate, low economy and gender racism prove this. ... For example, 62% female illiteracy in Africa compared to less than 10% in the First World. ... Poor economy and low flow of goods and services makes it harder for the population in developing countries to survive. ... Poor health, high illiteracy rates, low economy and gender racism all contribute to the paralyzing life these women live. ...

• Word Count: 794
• Approx Pages: 3

In the Rg Veda, composed by the Aryans, it expresses all about Purusha; a man, whatever has been, whatever is yet to be, ruler of immortality, and much more; and tells of his sacrifice to create all that the world is. ... Vise versa, Mayans see entities as being the creators of humans, while Aryans see it as one great power creating every other entity in the world. ... Although it was not seen in this light at the time it is a reflection of something we see currently in the world. ... However in Mayan stories it is conveyed that they have agrarian economies, this is expressed through the conne...

• Word Count: 692
• Approx Pages: 3
• Grade Level: Undergraduate

The ill-equipped Russian economy was hit hard as it tried to cope with the global crisis of 1998. ... The main factors that contributed to the recovery after the 1998 crisis have been the competitive boost from the weak ruble and the trade surplus caused by the rise in world oil prices. ... These commodities being a major part of Russia's exports make the country susceptible to the fluctuations in world prices. ... The Russian stock market in 2001 did exceedingly well and achieved a growth rate only second highest to Argentina in the world. ... In view of the performance of the...

• Word Count: 1154
• Approx Pages: 5
• Grade Level: Undergraduate

INTRODUCTION Brazil is the largest country on the continent of South America and the fifth largest continent in the world. ... In the late 1990's economic crisis were being felt around the world, and the fear of the international marketplace was that if Brazil's economy collapsed, those in many Latin American countries would be next. ... BRAZILIAN ECONOMICS Historically the economy in Brazil has not been strong. ... By being unable to control debt, however, Brazil's economy took a hit when the similar economies of Asia and Russia suffered. ... It is my opinion that the wor...

• Word Count: 1759
• Approx Pages: 7

The United States Economy is being negatively impacted by the prospect of war with Iraq. ... The economy of the Arab nations has been nearly frozen since the attacks on the World Trade Centers. ... This would help to stabilize the price of oil which would lead to economic stabilization for the United States economy and eventually a stable world economy. ... The United States is the world's largest economy. ... To have our government seem indecisive about initiating a war with Iraq is negatively impacting both our economy and the global economy. ...

• Word Count: 657
• Approx Pages: 3
• Grade Level: Undergraduate

Globalisation is the process of economic integration in the trade, financial and labour markets leading to the emergence of a single world market. ... LDC's (Least Developed Countries) are a sub-group identified by the United Nations; these economies suffer from the lowest GDP per capita levels in the world - less than $US900 per year. 34 of the 49 labeled LDC's are located in sub-Saharan Africa, and include countries such as Sierra Leone and Mozambique. ... Measuring by GNI, around three quarters of the world's raw GNI output belongs to high income or advanced economies. ...

• Word Count: 1477
• Approx Pages: 6
• Grade Level: Undergraduate

World Trade Organization Some people view the World Trade Organization or WTO as a ruthless power only being ran by hegemonic powers that have no concern but for their own interest. ... This will not only effect their own economy, but will effect other economies as well. ... The WTO has realized that a country's economy could effect other countries economies thus causing a virus to spread throughout the world. ... Japan is one of the world's largest exporters, and if many farmers get laid off then this would effect other markets of the Japan economy. ... India is one of the wo...

• Word Count: 2363
• Approx Pages: 9
• Grade Level: High School

"When the US sneezes, the rest of the world catches a cold," I used to hear on a news show as a kid. ... This week, we have found that the US economy is growing at 3.9% in annualized terms. ... Firstly, US consumers represent nearly a fifth of the world's GDP. ... This is good news for exporters, and also for the global economy. ... Moreover, the US economy is growing 4% vs. our 0.6% annually. ...

• Word Count: 773
• Approx Pages: 3

Greece's Economy Greece is one of the oldest civilized countries in the world and for many years, one of the most successful and prosperous. ... With these commodities the nation has a good foundation for a solid economy, but it is how well they harness these natural resources that will determine how strong their economy will be. ... These people are not included in the world force. ... Greece is not that much of a factor for the world's trade system when it comes to exports only bringing in about $12.5 billion dollars. ... With much of the world banning smoking in public, Greece...

• Word Count: 1623
• Approx Pages: 6
• Grade Level: High School

If China's economy grows as fast for the next 20 years as it has for the past 14, it will be the biggest economy on earth: I feel that China's drastic improvements over the last 14 years are overwhelming, with their Real GNP growing at a rate of 9% a year. ... Perkins believed four conditions must be met for a market system to work well in reforming centrally planned economy. ... In 1978 China had an isolated economy, with a minimal share of world trade, commodities, especially oil which was China's main export. ... The party has a large role to play in China's transition ...

• Word Count: 953
• Approx Pages: 4
• Grade Level: High School

Algeria ranks fifth in natural gases in 14th in oil reserves for the whole world. ... This has served to ease the struggling economy of the country. ... Since then oil production and refining have dominated Bahrain's economy. ... Following independence in 1971, Bahrain became a member of the World Bank and the International Monetary Fund (IMF). ... Since then, however, the sector has suffered from periodic declines in world oil prices and from wider Syrian economic troubles. ...

• Word Count: 1658
• Approx Pages: 7
• Grade Level: Undergraduate

The world is filled with a great diversity of people, and perhaps the most defining characteristic of the human community is the God-given gift of opinion. Capitalism, Socialism, Communism, and Mixed economies; all of these are born of different minds and desires. ... Pearson discusses both the definition and misperceptions of our mixed economy and agrees with our textbook's definition of a mixed economy as being "an economic system in which some allocation of resources is made by the market and some is made by the government." ... Pearson said, "People are mixed, not economies. ... The...

• Word Count: 521
• Approx Pages: 2
• Grade Level: Undergraduate

Introduction After the discovery of oil in 1859, the world never looked back. ... The industrial revolution had changed the outlook of the world with the help of its brainchild: oil. ... Use radial tyres for 3-7% fuel economy. 11. ... Conclusion To save the world from oil/gas crisis we have to take certain steps immediately. ... Thus inturn conservation saves the world....

• Word Count: 1153
• Approx Pages: 5
• Grade Level: High School

As much as a sovereign power is necessary for consequential scenarios, it also conveys how an economy in Hobbes's world would function. If humans are irrational, and sovereignty is necessary, we can conclude that government intervention is necessary to control a market if in Hobbes world, or that otherwise, it would be just as Adam Smith would want it, rather left alone. ... Unlike Adam Smith, Polanyi gives much credit to the state's role in the economy. ... Every component of the economy is in one way or another initiated by the government. ... In conclusion, the ideal and most ne...

• Word Count: 1585
• Approx Pages: 6
• Grade Level: Undergraduate

The Stock Market And The Economy The stock Market exists as means for businesses to grow. ... The stock market is said to go hand in hand with the economy. Some say the stock market determines the economy, others say the market is determined by the economy. ... So, basically, the daily business of life, from world news to local activity effect our economy which in turn effects the stock market which in turn effects the average Joe. So, as unpredictable as life is, so is the economy and the stock market. ...

• Word Count: 502
• Approx Pages: 2
• Grade Level: High School

Economic Impact The economy plays a significant role in everyday life in just about every aspect imaginable. ... Secondly, the economy impacts every member of my family through employment. Without this important aspect of the economy, there would be no money coming in. ... However, but it also plays a vital role in the world of insurance, retirement, and personal happiness. ... The economy is the cradle of life for most families, and can serve to aid or hurt them depending on what is going on in the world. ...

• Word Count: 1091
• Approx Pages: 4

The 21st Century Economy in the United States can be characterized as a very prosperous economy. The article "The 21st Century Economy." ... When the United States came out of World War II, United States productivity growth was at high levels. ... The current expansion has commonly been referred to by economists as "The 1990's Economic Boom", because the current growth of the United States economy is the longest ever in peacetime. ...

• Word Count: 321
• Approx Pages: 1

The attack on the world trade center in the early morning of September 11, 2001 was a devastating blow to the U.S economy, which had a slight impact on the world economy. This devastating crisis hit the U.S economy at a point when it was already facing serious economic difficulties. ... Therefore even without the attack on the world trade center the stock market was falling, but the effect of the attack further damaged trading and brought about the sharpest fall since 1929-31. ... There was a tremendous number of job losses reported both in the U.S and abroad, this indicates the dependability...

• Word Count: 304
• Approx Pages: 1