Economic Geography.
The government of Brazil needs to institute and implement policies which are going to enhance the growth of technology in the country and at some extent to be the technological hub of Latin America. Some of the policies the government can implement
Tax exemption on technological gadgets like computers and their accessories
Investing enough resources in existing technological institutions and supporting technology related initiatives from high school to tertiary institutions. Opening new technological institutions and motivating the youth to participate vigorously.
Unlimited funding in research and development ( R D )
Discuss how Michael porters competitive diamond could be used to identify a potential cluster in the area near Vancouver, BC, Canada
Related supporting industries within should be identified, skilled labor be tapped, enough capital funding and an efficient infrastructural development area be identified. Firm strategy structure and rivalry should be emphasized taking into account of the established markets across the border in United States. The government should also motivate the companies to invest in the areas and realize their goals.
How does the free trade help the economic development of poor nation And how could it also hurt their development
Free trade opens new market opportunities for developing countries products. Poor nations benefit from foreign income which plays a vital role in the countrys economic development supporting different sectors of the economy and boosting the income of the farmers, suppliers, traders and the country in whole. Free trade on the other hand allows the developed nations to dump their products to the poor nations using technological advantage in mass production of goods and cheaper products. Cheap products contribute to closure of industries due to unfair competition coming from the developed nations resulting to increase in unemployment, poverty and underdevelopment of the economies.
How can the auto industry support a more sustainable plan of development How would this be beneficial to the world Would there also be negative consequences to this
Through creation of employment on the car industries hence alleviating poverty in the world. Emission of carbon dioxide contributes to global warming threatening the existence of mankind when the ozone layer is tampered.
5. Does a physical size help a countrys economy to succeed Explain
Apparently not. The models of economic growth and development along with effective and strategic policies contribute a lot to the economic success rather than using the advantage of its geographical size. In the world we have countries like Singapore and Norway which are very tiny yet the economic development in terms of GDP per capita and well being of the nation and people is a hundred times than most large nations in the world. 6. How does globalization support the development of poor countries How might it also hold back their development
Globalization breaks down the barriers of trade, communication, financial intermediation and technology transfer. This has helped poor nations in accessing potential markets of their products in the west and developed countries, technology transfer from developed nations has enabled poor nations to be competitive and expand their economic sectors like communication and infrastructural development, liberalization of markets and financial interaction has strengthened their financial institutions. These factors have stimulated and supported the process of economic growth of many poor nations. Despite these positive developments globalization has stifled the growth of industries of many poor nations by pouring cheap products technology transfer contributes to over reliance of western nations and thus dependence resulting in neo-colonialism.7. Is agribusiness a critical factor for the success of developing countries Explain. Will countries be able to develop without a vibrant agriculture sector Explain
Due to lack of matured manufacturing sectors developing nations have relied and depended on agriculture as a gateway to uplift the majority of their citizens from poverty. Agribusiness helps countries to address food security and be self-reliant on food production thus focusing on other avenues of development. It would be difficult to develop without vibrant agriculture sectors because the bulk of people in poor nations depend on agriculture as a way of sustaining their livelihoods. Vibrant agriculture sector creates employment and ensures sufficient production of food enabling people to live and prosper.8. Dependence, Independence, or interdependence. Which is the best for the developing countries Explain.
Interdependence is the best solution. Interdependence will be necessary for developing nations because most of their economic structures are undeveloped and they need assistance from developed nations to bolster their economic development by assisting them in their industries ,superior technology know how and transfer in different sectors and in turn the developed countries access their markets and their advanced skills. Protectionism will hurt the development of poor nations by limiting the flow of goods and skills.9. Dependence, Independence, or interdependence. Which is the best for the richer countries which are already highly developed Explain
Developed countries will always be in an advantaged position when they approach the interdependence way. They have superiority in technological, manufacturing and industrial sectors which the poor nations are in need and in turn they will gain enormously from the natural resources and raw materials which are abundant in developing countries and scarce in their nation. Developing countries are also potential markets for their products as most rich nations have saturated markets while developing countries are growing.
10. As the developing world develops, can we all be (relatively) rich What would be the positive and negative aspects related to this
Not everyone will be rich but there will be a significant number of people who are going to be moderately rich. Economic growth creates more opportunities in employment, investment hence enabling people to accumulate wealth and resources. Economic growth is not necessarily economic development where the welfare and well being of all people are going to be guaranteed. In fact as the country develops fast it creates castes and social classes in the communities where the poor are alienated and only used by the rich to satisfy their own demands. Exploitation of labor is always a norm and the rich who happen to be very few protect their interests to avoid competition from the majority paupers. 11. How should a country with an assembly economy like Mexico chart a path to becoming highly developed country
Mexico needs to implement policies which are going to strengthen the country financial, judicial and economic institutions. Strong institutions lure investors to the country as their interests and investment will be safe and guaranteed within the country. Similarly the government must fully liberalize their markets and take advantage of trade agreements like NAFTA and related agreements. Corruption is a vice which the government must ensure it is almost zero to attract more investors. Concentration should also be emphasized on technology and manufacturing sector if the country dreams of becoming a developed nation.12. Is free trade area like ( NAFTA) a preferable way for member countries to operate than through a more far- reaching political and economic Union ( like the European Union) explain the relative benefits of each system
NAFTA and the EU are regions with markets that are fairly easy to enter compared to Japan and other places with high barriers (Gianaris, 1998, p.xii). NAFTA is comprised of about 3 countries with economic superpowers United States and Canada and developing country of Mexico. The principle goal of the body called NAFTA was to eliminate barriers of trade, communication and interaction between member states and in turn act as a stimulant for the economic growth of the nations. Mexico being a less developed economy unlike the two other member nations would supposedly benefit a lot by accessing the markets of US and Canada and gain a lot from transfer of skills while the markets of US and Canada would be widened. A free trade agreement like NAFTA is preferably because it focuses on the markets and trade rather than interference of internal political structures of member nations. EU is a big body of more than 27 member states and the number is still growing and their aim was to have not only an economic union but also a political union. Economic development is intertwined with political stability and European Union wanted to remove economic barriers and merge political to create a strong bloc sharing the same values and ideas. Short Essay Questions 1. One of the main goals of super governmental organizations is to help the developing world develop. Are they on a path to accomplish this mission In what ways are they achieving this and in what ways are they a barrier to the poor world developing
The role of super governmental organizations and most non-governmental organization has been controversial for a very long time in developing nations although their contribution cannot be looked down upon. Super Govermental organization and non-governmental organizations fill the gap of development always left by the poor nations because of inability of having enough resources to help their people. These organizations focus on empowerment of people through economic sustainability, funding education projects, farming, preventing curable diseases and directly assisting the governments in capital intensive projects like infrastructure construction. They have helped thousands if not millions from poverty and assisted in key development initiatives in poor countries. There are some of the organizations who have tried to achieve their specific mission by collaborating with the governments and the locals in implementing their projects. Despite the positive development associated with the organizations they have not achieved a lot in developing the poor nations. The organizations mostly are interested in funding from donor countries and they fund partly their projects to ensure a consistent flow of funds to individual pockets. There focus on assistance is sometimes questioned because they concentrate on minor projects which can be handled by the nations instead of investing on capital investment and infrastructural development. With them they bring along expatriates offering consultancy and mostly they spent 60 of their budgets on salaries. A pattern of dependence is developed and thus sometimes acting as agent of neo-colonialism from their powerful nations.
2. How has its geography had impact on an island country like Japan Beyond geography, what other factors has supported Japans development How can this help explain why japans economy has advanced at a much more rapid rate than the Philippines Like Japan, the Philippines are in island group, but its economy remains far behind Japan.
Japan utilized well the surrounding ocean by investing, researching and developing the fish industry to one of the best in the world. Being in a quack-prone area has enabled Japan to research on technological models on how it can cope with the catastrophes. Japan after World War 2 implemented policies which fast tracked development of infrastructure and technology. Boosted by their work -ethic models Japan invested and emphasized a lot on industries and manufacturing. Similarly Japan developed their financial institutions and reformed their government structures to suit their economic agendas. Philippines economic models were different from those pursued by Japan and although they were close to ocean little effort was put to advance their fishing industry. Manufacturing and industrialization was not their main policy of economic development. Philippine has also been destabilized by internal politics unlike Japan which had stability in government while implementing their economic growth policies.3. Discuss how disorganized capitalism is better for developed countries that organized capitalism would be, given todays economic realities. Given this situation, will developing countries benefit more from organized or disorganized capitalism as they seek further economic development Explain.
Disorganized capitalism gives the platform of government to intervene in the financial markets and any other sector of the country which is very sensitive and critical to the stability of the nation. During recent economic crisis witnessed across the world the governments were forced to apply policies of socialization as they intervened to save the financial institutions from collapsing. Absolute free markets according to capitalism led to lies, distortions and exploitation of the market by few greedy individuals. Developing countries on the other hand need to blend a little of dis-organized capitalism and normal organized capitalism to enable them to act on events which threaten the stability of the nation economy.