ECO. 361 Online Quiz/Discussion-20/1/2023 (Developing Country Issues)
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Metu Sandra chiamaka
2017/249526
Eco major
1.China and India whose social and economic systems were sharply opposed played a major role in promoting the Bandung Conference, Indonesia in 1955 by having advanced in the technological know how.
2.
The World Bank assigns the world economies into 4 groups and each year these classifications are updated each year on July 1 and are based on the GNI per capita of the previous years. These groups are;
• low income countries.
• lower-middle income countries.
• upper-middle income countries.
• high income countries.
3.Common characteristics of developing nations.
• Low levels of productivity
• Widespread poverty
• Dependence and Vulnerability
• Traditional, rural and social structures
4.I bluntly disagree that poverty has the face of a woman because the high rate of poverty was not largely caused the women but rather generalized due to unemployment and unwillingness to work by both genders.
NAME: ODOH GLORY CHIDERA
REG NO: 2019/244719
DEPARTMENT: COMBINE SOCIAL SCIENCES ( ECONOMICS/ SOCIOLOGY)
ASSIGNMENT ON ECO 361
EMAIL ADDRESS: Chideragloryodoh@gmail.com
1. The concurrent rise of China and India represents a geopolitical event of historic propor- tions. Rarely has the global system witnessed the reemergence of two major powers simulta- neously—states that possess large populations, have ancient and storied histories, abut each other spatially and politically, and dominate the geographic environs within which they are located. Their return to center stage after several centuries of imperial domination thus presages the reincarnation of an earlier era in Asian geopolitics when China and India were among the most important concentrations of political power in the international system since the fall of Rome. The parallel revival of these two nations also dramatically exemplifies Asia’s resurgence in the global system. Although there has been a steady shift in the concentration of capabilities from West to East ever since the end of World War II, this transformation took a decisive turn when the smaller, early-industrializing nations of Asia—Japan, South Korea, Taiwan, and Singapore—were joined by the large, continental-sized states of China and India. The recent renaissance of China and India is owed in large measure to their productive integration into the liberal economic order built and sustained by American hegemony in the postwar period. As a result of that integration, both of these giants have experienced dramatic levels of economic growth in recent decades. China’s economic performance, for example, has been simply meteoric, exceeding even the impressive record set by the first generation of Asian tigers between 1960 and 1990. During the last thirty or so years, China has demonstrated average real growth in excess of 9 percent annually, with growth rates touching 13–14 percent in peak years.
The two countries also share a common interest in ensuring that the international environment is peaceful to guarantee their continued economic consolidation and domestic political stability. But if the history of previous rising powers is any indication, as China and India contin- ue to grow they will want to progressively reshape the international system to advance their own interests—interests that may differ from those of the United States, the established he- gemon that sustains the current global order. This does not imply, however, that Beijing and New Delhi invariably share common objectives in opposition to Washington. To be sure, the two countries are united by certain acknowledged aims: recovering the preeminence they once enjoyed as international entities of consequence; establishing a multipolar world with themselves as constituent poles; avoiding the costs of contributing to global public goods on the grounds that their vast developmental challenges are not yet overcome; and protecting their hard-won sovereignty in the face of new principles justifying foreign intervention in the internal affairs of states.
Despite these convergent objectives, China and India are also divided by deep differ- ences in the conduct of their political affairs. Beijing’s and New Delhi’s divergent behaviors are shaped by the unique histories governing their formation as modern states, the stark contrasts in their respective political regimes, and their ongoing territorial disputes and geopolitical rivalries, which are exacerbated by their growing prominence in international politics. As one analysis concluded, “The relation[ship] between Asia’s two great powers can best be characterized as one of global cooperation on transnational issues especially vis-à- vis the ‘West,’ geostrategic rivalry at the regional level in the form of growing commercial exchange and in some cases bilateral competition.”1 This statement captures, in many ways, the conventional wisdom about the dichotomy in Sino-Indian ties: a broad convergence on transnational issues complemented by a deep bilateral rivalry that persists despite the two countries’ mutual and growing economic interdependence. Whether the agreement on issues of global order, especially vis-à-vis the West, is real or whether it merely obscures important differences between the two rising powers is a critical question because it bears on the character and the extent of change that might be desired of the international system as it evolves. Accordingly, there is a pressing need to understand how these two emerging powers conceive of various issues relating to the global order. Such an understanding would reveal the extent of their comfort with the existing system while simultaneously providing clues about how they might seek to reshape it if they acquire the ability to do so in the future.
This volume is an attempt to understand how China and India think about various dimensions of the emerging global order. It brings together a series of paired papers by distinguished Chinese and Indian scholars who address a common set of questions (listed at the beginning of each chapter) relating to four broad areas of concern: the evolving global order, the challenges of regional security, key problems of the global commons, and emerg- ing nontraditional security concerns.
2. The standard criteria for evaluating a country’s level of development are income per capita or per capita gross domestic product,the level of industrialization,the general standard of living,the amount of technological infrastructure.
The main social indicators of development includes: education, health, employment rate and gender equality. Some examples of social indicators of development includes; education levels. For example, how many years of schooling children have. Health often measured by life expectancy.
Indicators of underdevelopment includes: high birth rate,high infant mortality,under nourishment,a large agricultural and small industrial sector,low per capita GDP, high level of illiteracy,and low life expectancy.
3. Developing countries also known as underdeveloped countries or poor countries or third-world countries e.t.c.. These countries are in a hurry for economic development by utilizing their resources.
However,they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop. The following below are some of the common characteristics of developing nations.
The major characteristics of developing country or nation is low per capita real income.
A.The real per capita income of developing countries is very low as compared to developed countries. This means that the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore,low per capita income in developing countries results in low savings, investment and ultimately creates a vicious cycle of poverty.
B. Rapid population growth: Developing countries have either a high population growth rate or a large size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. This high or rapid population growth is caused by lack of family planning, education, lack of sex education and beliefs that additional kids means additional labor force which inturn means additional income and wealth e.t.c. and lastly the belief that God gives children.
C. Unemployment and underemployment: Unemployment and underemployment are also another big problem for developing countries. These emerged due to excessive dependence on agriculture,low industrial development e.t.c.
In developing countries,the problem of underemployment is more serious than unemployment. People are made to do or engage themselves in inferior jobs because of lack of alternative sources of job.
4. I strongly agree that poverty has a woman’s face because in our societies today, women are disregarded especially in families. We have this mentality that is only men that are breadwinners in various homes or family.
Women are the ones giving birth, and you and i know that giving birth is not a child’s play at all, women also take care of the children especially when they are sick because they are the ones that worry about the health condition of the children unlike the men that will be in beer parlor drinking and having funs with their friends, women also take care of the men by cooking and washing their clothes.
In our societies today there is a strong inequality because men are the superior begins compared to women. Also women are majority of the poor due to cultural norms, and values,gendered division of assets, and power dynamics between women and men.
In our societies today, women and girls bear an unequal burden of unpaid domestic responsibility and overrepresented in informal and precarious jobs..
Women posses inherent agency and knowledge that is overlooked by policy makers as they form and implement poverty reduction plans.
In most societies, gender norms define women’s role as largely relegated to the home,as mothers and caretakers and men’s role as responsible for productive activities outside the home.
Women also in some societies cope with food crisis created by drought. World wide,women are driven further into poverty by inflated food prices. Women’s experience of poverty. Girls and women in poor household bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. For instance,In poor rural households, women’s work is dominated by activities such as firewood,water, and fodder collection,care of livestock and subsistence agriculture.
1)It is true that China and India, as two of the largest and most populous countries in the world, played significant roles in the political emergence of third world countries and in changing the relations between the third world and the industrial countries, both capitalist and communist.
China, under the leadership of Mao Zedong, pursued a policy of supporting revolutionary movements in third world countries, particularly in Africa and Asia, by providing military and ideological assistance. This policy was known as “the Three Worlds Theory,” which categorized countries into three groups: the first world (the United States and its allies), the second world (the Soviet Union and its allies), and the third world (all other countries). China supported the third world countries in their struggles against imperialism, colonialism, and neocolonialism.
India, under the leadership of Jawaharlal Nehru, pursued a policy of non-alignment, which aimed to maintain neutrality and independence from both the capitalist and communist blocs during the Cold War. India also supported the decolonization of third world countries and played a leading role in the Non-Aligned Movement, a group of countries that advocated for peaceful coexistence, disarmament, and economic cooperation.
Together, China and India provided alternative models of development and international relations for third world countries to follow, which challenged the dominance of the industrial countries in the global arena. Their influence helped to shape the political and economic landscape of the third world and contributed to the emergence of a more multipolar world order.
2) Indicators to measure development, such as the Human Development Index (HDI), which takes into account not only income but also measures of health and education.
The term “third world” originally referred to countries that did not align with either the capitalist West or the Communist East during the Cold War. However, the term has since evolved to refer to countries that are generally less developed than the industrialized nations of the first world and the former Communist countries of the second world.
The political emergence of third world countries has been shaped by a variety of factors, including decolonization movements, the non-aligned movement, and the rise of nationalist and socialist movements. China and India, with their large populations and strategic locations, played a significant role in these developments.
The relationship between the third world and the industrial countries has been characterized by a history of exploitation and unequal trade relations. Many third world countries have been locked into a pattern of producing and exporting raw materials while importing manufactured goods, leading to a cycle of dependency and underdevelopment.
Efforts to address these issues have included initiatives such as the New International Economic Order (NIEO), which sought to establish a more equitable global economic system, as well as various forms of foreign aid and development assistance. However, progress has been slow and uneven, and many third world countries continue to face significant challenges in achieving sustainable development and reducing poverty.
3. Common Characteristics of Developing Nations:
Developing nations are countries that are in the process of industrialization and growth. They are characterized by certain common features, including:
a. Low Per Capita Income: Developing nations have a low per capita income, which means that the average income of their citizens is relatively low.
b. High Population Growth Rate: Developing nations tend to have high population growth rates, which can lead to strain on resources and social services.
c. Limited Infrastructure: Developing nations often have limited infrastructure, including poor transportation networks, inadequate healthcare facilities, and insufficient electricity supply.
d. Low Levels of Education: Developing nations often have low levels of education, with many citizens lacking basic literacy and numeracy skills.
e. Dependence on Primary Sector: Developing nations often rely heavily on their primary sector, including agriculture and natural resource extraction, for economic growth.
f. Political Instability: Developing nations may experience political instability, including corruption, civil unrest, and weak governance.
g. High Levels of Poverty: Developing nations typically have high levels of poverty, with significant portions of the population living below the poverty line.
4. The statement “poverty has the face of a woman” suggests that women are disproportionately affected by poverty. There is evidence to support this claim, as women are more likely to be poor than men in many developing nations.
Several factors contribute to this gender gap in poverty. For example, women may have limited access to education, healthcare, and employment opportunities, which can make it difficult to escape poverty. Additionally, women often bear the burden of caring for children and elderly relatives, which can limit their ability to work outside the home.
As an economist, I agree with the statement that poverty has the face of a woman. However, it is important to note that poverty affects different groups in different ways, and that poverty reduction strategies should be tailored to address the specific needs of different populations. For example, policies that promote gender equality and increase access to education and healthcare can help to address the gender gap in poverty.
Name: Okpe Valentina Chioma
Reg no: 2019/242325
Dept: Library and information science
It is true that China and India, as two of the most populous countries in the world with vastly different social and economic systems, played significant roles in promoting the political emergence of third world countries and changing the relations between the third world and industrial countries, both capitalist and communist.
China, under the leadership of Mao Zedong, promoted a socialist model of development that emphasized self-reliance, rural development, and a rejection of Western-style capitalism. China’s model of socialism attracted the attention of many third world countries, particularly after the Chinese Communist Party came to power in 1949. China provided material and ideological support to many third world liberation movements, including those in Africa and Latin America, and also played a key role in the establishment of the Non-Aligned Movement, which sought to promote the interests of developing countries in the face of Cold War superpower rivalry.
India, on the other hand, pursued a more mixed economy model, combining elements of socialism and capitalism. India’s first Prime Minister, Jawaharlal Nehru, promoted a vision of non-alignment and cooperation among developing countries, and India played a key role in the Bandung Conference of 1955, which brought together leaders from Asian and African countries to discuss the challenges facing the developing world. India also provided material and political support to various liberation movements, particularly in Africa.
Together, China and India’s influence helped to shift the balance of power in international politics, particularly in the context of the Cold War. Third world countries began to assert more independence and demand greater recognition of their interests, and the traditional power structures dominated by Western capitalist and communist countries began to erode. The legacy of China and India’s involvement in the third world continues to be felt today, as many countries in Africa, Asia, and Latin America continue to seek ways to promote their own development and assert their interests in the face of ongoing global challenges.
Yes, that is correct. Gross National Income (GNI) per capita per year is one of the most commonly used measures for classifying countries as either “developed” or “developing”. However, there are many other criteria and indicators that are also used to measure development, such as:
1. Human Development Index (HDI): The HDI measures a country’s progress in terms of three key dimensions of human development – health, education, and standard of living.
2. Poverty rates: The percentage of the population living below the poverty line is a commonly used indicator of underdevelopment.
3. Access to basic services: Access to basic services such as health care, education, and clean water are considered important indicators of development.
4. Economic diversification: A diverse range of industries and economic activities can indicate a more developed economy.
5. Political stability: A stable political environment is often considered a prerequisite for development.
6. Technological advancement: The level of technological advancement in a country can indicate its level of development.
7. Infrastructure: A country’s infrastructure, including transportation, communication, and energy systems, can be an important indicator of development.
These indicators are often used in combination to provide a more comprehensive picture of a country’s level of development or underdevelopment.
Developing nations, also known as less-developed countries (LDCs), are countries that are in the process of improving their economic, social, and political conditions. While the specific characteristics of developing nations can vary depending on the country in question, there are several common characteristics that are often associated with these nations.
1. Low levels of economic development: Developing nations often have low levels of economic development, which means they have lower per capita income, lower levels of industrialization, and less developed infrastructure compared to developed nations.
2. High levels of poverty: Poverty is a common characteristic of developing nations. This is often due to a lack of economic development, limited access to education and healthcare, and inadequate social safety nets.
3. Dependence on primary sector exports: Many developing nations depend on the export of primary commodities such as agricultural products, minerals, and oil to generate income. This makes these economies vulnerable to fluctuations in commodity prices and can hinder economic growth and development.
4. Limited access to education and healthcare: Developing nations often have limited access to education and healthcare, which can contribute to a cycle of poverty and poor health outcomes. This can also limit opportunities for economic growth and development.
5. Political instability: Political instability is often a characteristic of developing nations, with frequent changes in government, civil unrest, and conflict. This can make it difficult to implement policies and initiatives that promote economic growth and development.
6. Weak institutions: Developing nations often have weak institutions, including ineffective legal systems, corrupt bureaucracies, and inadequate infrastructure. This can hinder economic growth and development and limit the effectiveness of government policies.
7. Rapid population growth: Many developing nations have high rates of population growth, which can put pressure on limited resources and exacerbate poverty and social inequality.
Overall, the common characteristics of developing nations reflect the challenges these countries face in achieving economic and social development. Addressing these challenges requires a multifaceted approach that includes policies to promote economic growth, improve access to education and healthcare, strengthen institutions, and address political instability and social inequality.
The statement that “poverty has the face of a woman” is a commonly used phrase that reflects the reality that women are disproportionately affected by poverty. This is particularly true in developing countries, where women are more likely to be poor than men due to a variety of factors such as gender discrimination, limited access to education and economic opportunities, and unequal distribution of resources.
There are several reasons why women are more likely to experience poverty than men. Firstly, women often have limited access to education, which limits their ability to acquire the skills needed to secure well-paying jobs. Secondly, women are often employed in low-paid and informal sectors of the economy, which offer limited job security and benefits. Thirdly, women are more likely to be responsible for unpaid care work, such as caring for children or elderly relatives, which limits their ability to participate in paid work.
Furthermore, women are more vulnerable to poverty due to their reproductive role. Women are more likely to be single parents, and they often have to provide for their children on their own. Women also have higher healthcare costs due to their reproductive needs, which can lead to financial strain.
In conclusion, it is clear that poverty has the face of a woman. While poverty affects both men and women, women are disproportionately affected due to a range of social, cultural and economic factors. Therefore, policymakers must address gender inequality to reduce poverty and promote economic development. This can be done by improving access to education and training for women, promoting gender equality in the workplace, and reducing the burden of unpaid care work.
Professor Dudley Seers’ argument is that development is about outcomes, specifically the reduction and elimination of poverty, inequality, and unemployment within a growing economy. This argument suggests that development is not just about economic growth, but also about improving people’s lives by addressing social and economic challenges.
Reducing poverty is essential for development as it allows individuals to access basic needs such as food, shelter, education, and healthcare. When people are lifted out of poverty, they are more likely to participate in economic and social activities, which can lead to further economic growth.
Inequalities, such as income and wealth disparities, can create social tensions and limit opportunities for some individuals and groups. Addressing inequality can help to ensure that everyone has access to education, healthcare, and other opportunities, regardless of their background or economic status. This can also contribute to economic growth by increasing productivity and innovation.
Unemployment can also be a significant obstacle to development, as it can limit individuals’ ability to access opportunities and contribute to economic growth. Addressing unemployment can involve investing in education and training programs, creating job opportunities, and supporting entrepreneurship.
However, it is worth noting that development is a complex and multidimensional concept that encompasses more than just poverty, inequality, and unemployment. Other factors, such as environmental sustainability, governance, and human rights, also play a crucial role in development.
Overall, Professor Dudley Seers’ argument highlights the importance of focusing on outcomes that improve people’s lives and promote sustainable economic growth. By addressing poverty, inequality, and unemployment, policymakers and stakeholders can work towards a more equitable and prosperous future
In his statement, Amartya Sen argues that development requires the removal of major sources of unfreedom, which includes both poverty and tyranny. Poverty refers to the lack of basic necessities needed for survival such as food, shelter, and healthcare, while tyranny refers to the abuse of power by those in authority, which can lead to the suppression of individual freedoms.
Sen also points out that development requires the removal of other sources of unfreedom, such as poor economic opportunities and systematic social deprivation. Poor economic opportunities can lead to a lack of employment opportunities, which can result in persistent poverty. Systematic social deprivation refers to the exclusion of certain groups from accessing social and economic opportunities, which can lead to significant disparities in society.
Furthermore, Sen argues that development requires addressing the neglect of public facilities as well as intolerance or overactivity of repressive states. Neglect of public facilities, such as inadequate healthcare, education, and infrastructure, can limit opportunities for people to improve their lives. Intolerance or overactivity of repressive states can lead to the violation of human rights and the suppression of freedom of expression, which can hinder development.
In his statement, Sen emphasizes the importance of addressing a wide range of issues that contribute to unfreedom in order to achieve development. He recognizes that development is a complex process that requires the removal of multiple sources of unfreedom, including poverty, tyranny, poor economic opportunities, systematic social deprivation, neglect of public facilities, and intolerance or overactivity of repressive states.
In conclusion, Amartya Sen’s statement highlights the need to address the root causes of unfreedom in order to achieve development. By removing these sources of unfreedom, individuals can have greater access to economic and social opportunities, which can lead to improved living standards and greater individual freedoms.
Entrepreneurship is important in a variety of contexts, including:
1. Economic growth: Entrepreneurship is often seen as an engine of economic growth, as new businesses and innovations can create jobs, increase productivity, and drive economic development.
2. Innovation: Entrepreneurs are often responsible for developing new products, services, and technologies that can lead to significant advancements and improvements in various industries.
3. Social impact: Entrepreneurship can also have a positive social impact, as businesses can address societal needs and problems, create social value, and contribute to the betterment of communities.
4. Job creation: Entrepreneurship can create new job opportunities and provide individuals with a means of earning a living and achieving economic independence.
5. Personal fulfillment: Entrepreneurship can also provide individuals with a sense of purpose and fulfillment, as they are able to pursue their passions and create something of their own.
6. Competitive advantage: Entrepreneurship can provide a competitive advantage for businesses, as innovative and unique products and services can differentiate them from competitors and help them succeed in the marketplace.
Overall, entrepreneurship is important in many different contexts and can have significant economic, social, and personal benefits. It is often seen as a key driver of innovation, economic growth, and job creation, and can provide individuals with a means of pursuing their passions and achieving personal and financial success.
1. Central Role of Women in National Development:
The central role of women in national development cannot be overemphasized. Women make up half of the population and are responsible for raising the other half. They are major players in the development of any society, as they are involved in various roles such as caregivers, producers, and consumers. Women’s contributions to national development can be seen in areas such as education, health, agriculture, and entrepreneurship. When women are empowered, they can contribute to the economic growth of a nation, and their families and communities benefit from their increased income and improved standard of living. However, women’s empowerment is still a challenge in many parts of the world, where gender inequality persists.
2. Beings and Doings in Capability to Function:
The capability to function refers to an individual’s ability to achieve their goals and live a fulfilling life. Beings refer to the individual’s physical and mental capabilities, while doings refer to the actual activities they engage in. For example, an individual’s being may include their intelligence, physical health, and emotional well-being, while their doings may include their education, employment, and participation in social activities. Both beings and doings are important in the capability to function, as individuals need both the physical and mental capacity to engage in activities that lead to a fulfilling life.
3. Core Values of Development:
The three core values of development are equity, sustainability, and human rights. Equity refers to the fair distribution of resources and opportunities, regardless of factors such as gender, race, or economic status. Sustainability refers to the responsible use of resources to ensure that future generations can also benefit from them. Human rights refer to the protection of basic human rights, including freedom of speech, religion, and the right to a fair trial. For example, a development project that prioritizes equity would ensure that marginalized groups have access to the resources and opportunities that they need to thrive.
4. Happiness and Income:
The relationship between happiness and income is a complex and debated topic. While some scholars argue that higher income leads to greater happiness, others disagree, pointing to factors such as social relationships, health, and personal values as more important determinants of happiness. It is important to note that happiness is a subjective experience and can vary greatly among individuals and cultures.
5. Economic Growth vs. Economic Development:
Economic growth refers to an increase in a nation’s output of goods and services, usually measured by changes in gross domestic product (GDP). Economic development, on the other hand, refers to the process by which a nation improves its standard of living, reduces poverty, and increases economic and social well-being. Economic growth can be a component of economic development, but it is not sufficient on its own. A nation can experience economic growth without achieving sustainable economic development. Currently, as a nation, the level of economic growth in a country can be measured by its GDP growth rate, while development can be assessed by indicators such as the Human Development Index (HDI), which includes factors such as life expectancy, education, and income.
Name: Udeh Mgbechi Mary
Reg. No.: 2019/251473
Department: Economics
3. Developing nations, also known as less-developed countries or emerging markets, share some common characteristics that differentiate them from developed nations. Some of these characteristics include:
A) Low levels of economic development: Developing nations generally have low levels of economic development, which can be seen in their low per capita income, high levels of poverty, and limited access to basic amenities like healthcare, education, and sanitation.
B) Dependence on primary industries: Developing nations often rely heavily on primary industries such as agriculture, forestry, and mining for their economic growth. This can make them vulnerable to fluctuations in commodity prices and weather patterns.
C) High population growth: Developing nations typically have high population growth rates due to factors like high birth rates, lower mortality rates, and increased life expectancy. This can put pressure on resources and infrastructure, making it difficult to maintain economic growth.
D) Limited technological advancement: Developing nations often lack the resources and infrastructure necessary to develop and adopt advanced technologies, which can lead to lower productivity and competitiveness in global markets.
E) Political instability: Developing nations often experience political instability due to factors such as corruption, ethnic and religious tensions, and weak governance structures. This can create uncertainty and hinder economic development.
F) Limited access to capital: Developing nations often face limited access to capital due to factors such as weak financial systems, limited foreign investment, and high levels of debt. This can make it difficult for businesses to grow and expand.
G) Inadequate infrastructure: Developing nations often lack basic infrastructure such as roads, bridges, and power grids, which can limit economic growth and hinder social development.
In conclusion, these characteristics highlight the challenges that developing nations face in achieving sustainable economic and social development. However, with the right policies and investments, these countries can overcome these challenges and make significant progress towards achieving their development goals.
2. The statement “poverty has the face of a woman” is a powerful and often-used phrase in discussions around poverty and inequality. It highlights the fact that women are disproportionately affected by poverty and are more likely to live in poverty than men.
There are several reasons why poverty has a gendered face. Firstly, women tend to have lower levels of education and access to job opportunities, particularly in developing countries. This can limit their ability to earn a decent income and contribute to their economic vulnerability.
Secondly, women also tend to be concentrated in low-paid, insecure and informal work. This type of work is often temporary and lacks social protections such as paid leave, health insurance, and retirement benefits. Women in these jobs often face discrimination in terms of wages and working conditions, and their work is undervalued.
Thirdly, women are often responsible for unpaid care work, such as childcare, eldercare, and household chores. This can limit their ability to participate in paid work and earn an income. Women’s caregiving responsibilities can also limit their access to education and training, making it difficult for them to acquire the skills needed for better-paying jobs.
Lastly, women also face discrimination in terms of their access to financial services and credit. Banks and other financial institutions are often biased towards men, making it difficult for women to access the credit they need to start or expand a business.
In conclusion, the statement “poverty has the face of a woman” highlights the reality that women are disproportionately affected by poverty. To address this, policies and programs need to be implemented that address the root causes of gender inequality, including improving access to education and training, increasing access to good quality jobs, promoting gender equality in the workplace, and reducing the burden of unpaid care work.
Name:Udeh Mgbechi Mary
Reg:2019/251473
Dep:Economics
1..China, under Mao Zedong, saw itself as a champion of the oppressed peoples of the world, including those in the developing countries. China provided military and economic aid to various national liberation movements, including those in Africa, Asia, and Latin America, as part of its support for anti-colonialism and anti-imperialism. China also encouraged the formation of the Bandung Conference in 1955, which brought together leaders of newly independent countries to discuss common issues and promote solidarity among developing nations.
India, under the leadership of Jawaharlal Nehru, also played a significant role in promoting the political emergence of third world countries. Nehru advocated for a policy of non-alignment, which sought to maintain equidistance from both the United States and the Soviet Union during the Cold War. India provided military and economic aid to countries like Sri Lanka, Nepal, and Bhutan, and supported the African National Congress (ANC) in South Africa.
Both China and India provided a powerful example to other developing nations seeking to assert their political independence and pursue their own economic development. They also offered an alternative model of development based on self-reliance, anti-colonialism, and anti-imperialism. Their contributions to the political emergence of third world countries helped shape the global political landscape during the Cold War era and beyond.
2. There are several criteria commonly used to measure the level of development in a country. Some of the most commonly used ones include:
Gross Domestic Product (GDP) per capita: This measures the economic output of a country divided by its population. This gives an idea of the average income and economic activity of each person in the country.
Human Development Index (HDI): This index takes into account a variety of factors including life expectancy, education, and per capita income. It is used to compare levels of development across countries.
Poverty rate: This measures the percentage of the population living below a certain poverty line. This is a measure of the extent to which people have access to basic needs like food, shelter, and healthcare.
Education level: This measures the level of literacy and the number of years of schooling for the population.
Infrastructure: This measures the extent of development of physical infrastructure such as transportation, electricity, and water supply.
Health indicators: This measures the overall health status of the population including infant mortality rate, maternal mortality rate, and incidence of communicable diseases.
Political stability: This measures the degree of stability and predictability in a country’s political system. This is important for attracting foreign investment and promoting economic growth.
HEZEKIAH JOY CHIWONKE
2019/245662
ECONOMICS/PHILOSOPHY
Hezekiahjoy224@gmail.com
1.
There has been so many misconceptions of theconcept of the Third World and hence there has been no clear-cut definition of the third world. However, in the light of its origins, this term arose during the cold war to identify countries that were not aligned with the First world, the US, Western European and their allies, not with the Second World, the Soviet Union, China, Cuba and their allies. Another name the Third World countries were known for was NAM ,i.e. countries in the Non-Aligned Movement.
The First World were known as the Capitalist Bloc, while the Second World were known as the Communist Bloc. These blocs arose with respect to those who commanded authority Socially,Economically, Politically in the global sphere.These two blocs were involved in a war which was known as The Cold War. It was a term associated with the period of tension between these two worlds on economic and political platform with their recourse to open up fire, this was just after the Second World war. These two worlds had colonies who were subjected to colonization and imperialism. And these colonies whohadrecently gained independencewere passive players in the two world powers game. So the colonies took a stand of Non-Alignment with these two world powers. So they called for the Badung Conference in 1955.
The Badung Conference of 1955 hosted by Indonesia was the first large scale Afro-Asian conference held to discuss peace and the role of the third world in the Cold War, Economic Development and decolonization.They sought to attain political self-determination, mutual respect for sovereignty, non-interference with internal affairs, and equality. Most countries opposed the invitation of China to theConference because they saw China as a Communist State and that China export the Communist ideologies to other nations. The Republic of China’s representative, Zhou Enlai, brought a Five-Principles of Peaceful Co-existence to serve as a basis for establishing a relationship of friendship, co-operation and good neighborliness.
2.
The UN, World Bank and other Bretton Woods Institutions developed many indicators for measuring Development and underdevelopment.
The World Bank assigned the world’s economies into four classifications, which are:
• Low income 13,205
These classifications are based on the GNI per capita of the previous year written as let’s say July 1, 2022 for Fiscal year 2023 (FY23). It is an indicator that is closely correlated with non-monetary measures of the quality of life such as mortality rate, rate of enrollment in school.
The UN uses an Index called the Human Development Index(HDI) which measures a country’s average achievements in three basic dimensions such as:
• Life Expectancy
• Educational attainment
• Adjusted Real income ($PPP/person).
3.
There are certain indices that outstandingly characterize the Developing Nations, and they are:
• High Income Inequality
The disparity between income earners in the developing countries ishigher than what obtains in the Developed countries.
Inequality is a critical factor in understanding the severity of poverty. As it is not just about income inequality but also encapsulates inequalities of power, status, prestige, job satisfaction, degree of participation and even freedom of choice.Inequality does not only result from distorted growth, which in this case is when a minute fraction of a population is considered when critical decisions that binds the entire nation are made. And since the interest of the poor majority are not captured, there tends to be distorted growth in such economy. And as such the rich minority keep enriching themselves at the expense of the poor majority, thus expanding the inequality gap. Nigeria as a case study, down to employment the rich still secure job positions by their influence, secure job promotions by their influence. High income inequality defy our democratic administration.
Inequality can as well necessitate distorted growth in the sense that as this rich minority experience growth on their part, because the growth is not experienced by a major fraction of the nation, the growth of the economy as a whole will be distorted. As the nature of their growth is not capable of having impact on the entire economy. But if where the poor majority were experiencing growth, such growth would spread and push up the entire economy.
• Widespread Poverty
Smith, 1776 once said that, no society can surely be flourishing and happy of which by far greater part of the numbers are poor and miserable.Many in the developing nations are plagued with widespread poverty.
Now, poverty in a weak sense, is seen as when there is lack of food – hunger. However, poverty has a broader scope, in that it also captures powerlessness, dependency, lack of access to basic infrastructure, lack of access to education, poor health conditions, living in environmentally degraded area, trying to earn a living from marginal farms i.e. working as day laborers, have little or no socio-political voice.Putting aside the World Bank’s index for measuring Development, poverty is down right to our doorsteps, there are people who live in places that outsiders find difficult to access even to provide the basic infrastructure.
• Substantial dependence on Agricultural production and primary-product exportation
Developing nations have only succeeded in discovering their natural resources and in exporting them in their raw or natural state without any improvements. The Northerners of this our country are majorly farmers food crops and cash crops like groundnuts, cowpea and sorghum but they are still of the poorest.
Thesituation of resource trap prevails in our society, whereby we have a lot of natural resources that are not efficiently explored. And this will require that our industries are functional. However they’re not, that is why we rely heavily on exporting our raw resources to import expensive Industrialized products. Indirectly we have been successful only in creating markets for the Industrialized countries at the expense of our own pioneer-companies. Having no sense of National Competitive Advantage, this is a degree to which developing nations are called third world countries.
• Traditional, Rural and Social Infrastructures
Most of our infrastructure are unsophisticated and in states of decadence. Irregularities of power supply, unhealthy water, polluted environment, bad road networks, no good drainage systems to mention but a few. If they were in place, historians would have no audacity to give an accolade to Mungo Park for discovering River Niger when they were locals who lived around that area.
4.
“Poverty has a woman face” is a metaphorical statement to explain how the female gender are more affected by poverty than their male counterpart.This was coined by Dr. Diana Pearce a social worker, in 1978.
Poverty having a woman’s face implies that women in all societies feel the impact of poverty more than men in aspects of Economic, social, political, psychological situations.
Women do not have equal Economic opportunities with the men, and so it is held that they shouldn’t own fixed properties such as land, investments, insurance, houses and so on since they are under a man, their husband. Ownership of property should be written under a Man’s name. If this is held when there is economic prosperity, how much more when poverty prevails. Women are seen as housewives of no economic importance and as such no Economic empowerment is given to them which makes them suffer more on the face of poverty.
They are given limited access to Education. Education which is key for empowerment, for enlightenment is withheld from the female gender. How then, do they survive in periods of Economic hardships.
They are majorly faced with health and nutrition challenges. It was because a large cry went out against genital mutilation, if not a lot of societies would still practice this, as there are still some that do. Thus leaving the women in states of psychological trauma and misbalance.
In the aspect of political representation, women are seen to be ineffective, incapable of taking up leadership positions.
These are what necessitated the concept of “Poverty has a Woman’s face”.
Name: Ekweke Deborah Onyinyechi
Reg no: 2019/243791
Eco 361 Assignment
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
As a result of decolonization, the United Nations, at first numerically dominated by European countries and countries of European origin, was gradually transformed into a form like the third world.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Low per Capita income: the real per Capita income a of developing countries is quite low compared to that of developed countries. This results in low savings, low investment, and ultimately, increased poverty.
Poverty: this is seen in terms of lack of fulfilment of basic needs like education, employment, socio-economic participation, etc.
Uncontrolled population growth: in developing countries, there is high mortality rates compelling people to feel in secure and give birth to more children. Lack of family planning and education, lack of sexual education especially for teenagers and youths in order to avoid unwanted pregnancy, a belief that additional kids mean additional labour force and additional income and wealth, etc.
Unemployment and underemployment problem: due to low industrial development, lack of proper utilization of resources, lack of workforce planning, and teeming increase in population, and ethnicity problems in getting jobs, unemployment levels continue to rise.
Lack of infrastructures: infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Still the developed infrastructure is also unmanaged, and not distributed efficiently and equitably.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If no why?
World Bank estimates that 1.29 billion people live in absolute poverty; the sad fact is that about 70 per cent of them are women. Yes, poverty has a woman’s face due to these reasons:
Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many. Although these problems are experienced mostly in very undeveloped rural lands, they were highly prevalent in Africa in 19th and early 20th century, for example, women were not allowed to go to school because there responsibilities only end in the kitchen. Therefore women attended primary schools and got married to become house wives. These conditions prevented women from taking up job opportunities that will supply them with income. And when the breadwinners die, their wives end up struggling to take care of their children. This is usually also the case in polygamous marriages.
Name: Mgboh Chidera Martins
Reg No: 2019/242146
Dept: Economics
1. The Third World, or developing countries in Asia, Africa, and Latin America, are typically seen as being impoverished and having economies that are distorted due to their reliance on exporting raw materials to wealthier nations in exchange for completed goods. Along with having unstable administrations, these countries frequently have high rates of sickness, illiteracy, and population growth. When nonaligned countries gained independence from colonial domination following World War II, the term “third world” was initially used to set them apart from Western countries and former Eastern Bloc members, and sometimes more particularly from the United States and the former Soviet Union (the first and second worlds, respectively)
2. (i) Human Development Index (HDI)
The HDI is a composite statistic calculated from the:
• Life expectancy index
• Education index
• Adjusted income index(purchasing power parity)
(ii) Gross domestic income (GDP)
(iii) Gross national income (GNI)
(iv) Infant mortality rate
(v) Gender empowerment index
3. (i) low standard of living: a developing nation have a low standard of living, because the resources are not available to meet their basic human need. Needs such as shelter, clothing, food etc are not meet due to low per capital income or other factor in the nation can lead to these.
(ii) High rate of population: a developing nations have a high rate of population growth due to high population growth and scarce resources in the nation, it lead to many negative effect in the nation such as, lack of job and opportunities, high rate of crime in the society.
(iii) Increase in the level of unemployment: Due to the fact that resource in developing nation are not fully utilized this lead to increase in unemployment as a result of no labour forces in the nation and low standard of economy.
(iv) low level of productivity: developing nation have a problem of low productivity due to lack of man power to manage the resources, and corrupt leaders that will embezzled the resources all to their selfs.
(v) Dependence on Exports of Primary Commodities: Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector.
4. Yes poverty has the face of a woman. The statement poverty has the face of woman try to explain how woman in many countries are disadvantage of having lower profile level of education, lower ownership and control over assets, and lower social indicators than men.
Improving female education, and thus the earning potential of women, improves the standard of living for their own children, as women invest more of their income in their families than men do. Women’s education is important for women’s health as well, increasing contraceptive use while lowering sexually transmitted infections, and increasing the level of resources available to women who divorce or are in a situation of domestic violence. Education also improves women’s communication with partners and employers and their rates of civic participation. We could see that improving in female education is a good indicator of rich growth rate among women in many countries of the world.
Amankwe victor ubachukwu
2019/242928
Library and information science.
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
That is correct. China and India, as two of the largest and most populous countries in the world, played a significant role in promoting the political emergence of the Third World countries and in shaping the relations between the Third World and the industrial countries, both capitalist and communist.
During the Cold War period, China and India, along with other newly independent Third World countries, adopted a non-aligned stance and sought to promote a new international economic order that would be more favorable to their development needs. They challenged the dominance of the Western industrial countries and the Soviet Union, and called for greater political and economic autonomy for Third World countries.
China, in particular, played a leading role in promoting a socialist model of development and provided economic and military assistance to many Third World countries, including Vietnam, Cuba, and Angola. India, on the other hand, promoted a more democratic and market-oriented model of development and advocated for greater South-South cooperation among Third World countries.
Together, China and India, along with other Third World countries, helped to create a new global political and economic landscape that was more multipolar and less dominated by the West and the Soviet Union. This paved the way for a more balanced and equitable international order, and helped to promote the development aspirations of many Third World countries.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
While Gross National Income per capita is a commonly used indicator for defining and classifying countries as developed or developing, there are many other criteria and indicators that are used to measure development and underdevelopment.
For example, the United Nations Development Programme (UNDP) uses the Human Development Index (HDI) to measure a country’s development. The HDI takes into account not only income, but also other factors such as life expectancy, education, and access to basic amenities like clean water and sanitation.
The World Bank also uses a range of indicators to measure development, including per capita income, poverty rates, access to healthcare and education, infrastructure and technology, and governance and political stability.
Other organizations, such as the International Monetary Fund (IMF) and the Organisation for Economic Co-operation and Development (OECD), also use a range of indicators to measure development and underdevelopment, including economic growth rates, inequality, environmental sustainability, and social cohesion.
Ultimately, there is no one-size-fits-all approach to measuring development or underdevelopment, and different organizations and countries may use different criteria and indicators depending on their specific contexts and priorities.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Developing countries often have lower levels of economic development and infrastructure, lower per capita income, and higher poverty rates compared to developed countries. They also tend to have less developed industrial bases, less access to technology, and less educated populations. Additionally, many developing countries have higher rates of disease and lower life expectancies. Political instability and corruption may also be more prevalent in developing countries.
Developing countries, also known as less developed countries or emerging economies, typically have lower levels of economic development and standard of living compared to developed countries. Some common characteristics of developing countries include:
High poverty rates: this is caused by high rate of unemployment, all the factors of production are idle and production is low causing a manufacturer to produce less there by rendering some production factors idle.
Dependence on agriculture and natural resources: developing nations relies on subsistence agriculture production, whereby they produce for their personal consumption and any left over from their produce is been sold to the members of their village or neighboring villages.
Limited access to education, healthcare, and basic infrastructure: most developing countries live in rural areas where there is limited access to basic amenities and the structures available in such areas are depleted.
High population growth and urbanization: developing countries are experiencing increasing population growth without an increasing in production in rural areas making people to live the rural areas in search of green pastures.
Limited industrialization and technological development
Political and economic instability: developing countries are facing on stable governance and economic instability, because they population is growing at a geometric rate while the food supply is growing at an arithmetic rate, and with this many people are not working prices of goods are constantly rising leading to inflation or sometimes the countries experience recession.
High external debt: the government of developing nations tends to borrow too much from international organization or from developed countries by so doing the external debts increases.
Greater vulnerability to natural disasters and climate change: developing nations are at greater risks of experiencing natural disasters because we lack technologies and technical know how on how to manage our environment. Using oil mining in Nigeria as a case study, areas around bayelsa were oil is gotten from are at great risks of experiencing disasters and are currently facing some environment hazard.
Low per capital income
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?.
YES
Poverty has the face of a woman; women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience; addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.
Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income-earning opportunities.
Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty.
Name: Chidobelu Yonna Raluchukwu
Reg No: 2019/244261
Department: Economics (Major)
Question 1
Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
THE “third world” of the developing and, for the most part, newly independent nations is, for Communists of all brands and allegiances, both a crucial arena of political competition against the “imperialists” and the center of their hopes for new victories.* Yet there are important differences in the way Moscow and Peking view these opportunities. The Soviet leadership be- lieves that the many poor and ambitious countries will, later if not sooner, decide that Communism offers them the best prospects for raising their status in the world. Chinese Communist propaganda, on the other hand, calls for an ever more militant struggle of “national liberation” to expel the “imperialists” from Asia, Africa, and Latin America and to unite the developing countries under Peking’s leadership. Thus, in addition to being a principal focus of Communist hopes and efforts, the question of the “correct” policy toward the third world has unleashed deep-set rivalries and antagonisms between and within ruling and nonruling Communist parties alike.
In just over a decade the Communist regimes have accumulated a wide range of practical experience in cultivating the favor and seeking the potential allegiance of former colonial countries andother less developed areas. As a result of that experience, some Soviet analysts and spokesmen are now beginning to dilute the massive certainties of dogma with somewhat larger doses of empiri cal confusion and guesswork. Because the Soviet Union is the longest established, most powerful, and most widely active of the
Communist regimes, in this brief review special attention will be focussed on Soviet perceptions and policies, with only summary reference to the differing or opposing policies pursued by Communist China, Yugoslavia, and Cuba.
Question 2:
Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
A. Quality of Life Index
The Quality of Life Index (IKH) or Physical Quality of life Index (PQLI) is used to measure people’s welfare and prosperity. Macroeconomic indexes cannot provide a picture of people’s welfare in measuring economic success. For example, the national income of a nation can continue to grow, but without increasing social welfare.
The quality of life index is calculated based on:
(a) the average life expectancy at the age of one year,
(b) infant mortality rate, and
(c) numerical literacy.
In the quality of life index, the average life expectancy and infant mortality rate can simultaneously describe the nutritional status of children and mothers, health status, and family environment which is directly related to family welfare. Education is measured by literacy rate, which can describe the number of people who have access to education as a result of development. This variable describes the welfare of the community, because the high economic status of the family will affect the educational status of its members. By the makers, this index is considered as the best way to measure the quality of human beings as a result of development, in addition to per capita income as a measure of human quantity.
B. Human Development Index ( Human Development Index )
The United Nations Development Program (UNDP) has developed other development indicators, in addition to several existing indicators. The basic idea underlying this index is the importance of paying attention to the quality of human resources. According to UNDP, development should be aimed at developing human resources. In this understanding, development can be defined as a process that aims to develop options that can be made by humans. This is based on the assumption that improving the quality of human resources will be followed by the opening of various options and opportunities to determine the path of human life freely.
Economic growth is considered an important factor in human life, but it will not automatically affect the improvement of human dignity and dignity. In this connection, there are three components that are considered most decisive in development, long and healthy life, the acquisition and development of knowledge, and the improvement of access to a better life. This index is created by combining three components. The three components are:
(a). average life expectancy at birth,
(b). average educational attainment at the elementary, junior high and high school levels,
(c). per capita income calculated based on Purchasing Power Parity .
Human development is closely related to increasing human capabilities which can be summarized in increasing knowledge, attitude and skills , in addition to the health status of all family members and their environment.
Question 3:
Major Characteristics of Developing Countries
A. Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
B. Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
C. Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
D. The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
E. Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
F. Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
G. Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
H. Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
I. Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
J. High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
Question 4:
Almost 25 years ago, a UN Human Development Report claimed that “poverty has a woman’s face”. Gender inequality is a major cause and effect of poverty. An estimated one in three women experience gender-based violence in their lifetime and women are statistically more likely to live in extreme poverty than men. It is simply not right that millions of women are disproportionately affected by poverty, discrimination and violence.Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.
Dinyelu Chikaodili Lovette
2019/245486
Combined Social Science
Economics/Political Science
chikaodililovette@gmail.com
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
As a result of decolonization, the united nations at first numerically dominated by European countries and countries of European origin ,was gradually transformed into something if a third world forum
With increasing urgency, the problem of underdevelopment then became the focus of a permanent, although essentially academic debate. Despite the debate, the unity of the third world remains hypothetical, expressed mainly from the platforms of international conferences.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Rise in Real per Capita Income: One of the factors that measure the economic development of a nation is the rise in real per capita income.There’s a perception that whenever the income of individual increases than it’s real income increases.And when this happens the person is happy and prosperous. But there are some limitations to this.These limitations through per capita income do not determine whether the rise is due to equal distribution or unequal distribution.Same is the case with the quality of goods and services being provided and consumed. Further, the quality of public goods also affects economic welfare.
Quality of Life and Expectancy: When the basic facilities like water, electricity, and housing are available to anyone that the quality of life is considered as good in that nation.Here the measuring factor is the needs of the people. These needs are basic needs like access to health, sanitation, education, nutrition, etc. For this, the main factor is the infant mortality rate. This is the death rate of a child who is less than a year old. While life expectancy is the average life of the population that lives.Real Gross National Product: As mentioned above, GNP, as well as GDP, are the measuring factors for economic development of a nation. Increase in both of these ensures that the larger availability of the good and services in that country. If this supports the standard of living of the people than it increases the economic conditions of the nation.But there are some limitations to this as well. Like the increase in the size of GDP does not directly means the more availability of services and goods. Whenever the GDP is calculated for the current prices, there may be an increase due to price rise. This does not mean the availability of goods and services have increased.
Human Development Index: It includes several factors like long and healthy living, the welfare of the people, etc. This index also includes the standard of living of people, literacy rate, and purchasing power parity in terms of real income.
Gender-related development index: This is popularly known as GDI. This is used to measure gender inequalities by measuring three basic dimensions of human development. They are education, health, and economic resources. They measure education by calculating expectancy years for schooling for males and females. While health measures the male and female life expectancy during the time of birth.
Poverty Index: The poverty index which is otherwise called multidimensional poverty index aka MPI helps in identifying various factors. These various factors are health, the standard of living, and education.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
1. Low Per Capita Real Income: Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments. It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
2. High Population Growth Rate: Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
3. High Rates of Unemployment: In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
4. Dependence on Primary Sector: Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
5. Dependence on Exports of Primary Commodities: Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
In my own opinion,I would agree with the fact that poverty has the face of a woman. This is because the female gender looks weaker than their male counterparts. Women face the responsibilities of child bearing and taking care of their children and making sacrifices for them to get quality education, living comfortably and providing basic needs for her children at her own expense therefore looking tattered and stressed.
Men are always not bothered babysitting their children, they go out leaving the woman alone the sole responsibility of taking care of children. This is why in most cases, you would always see pictures of women and their malnourished children looking for aid.
In some parts of Africa, women are being denied the right to education because the community see it as a waste of resources since she would still end up in her husband’s house and therefore become a complete housewife. In areas of education, the girls has always been suffering more than boys because we get to see situations whereby parents drop out their female daughters from school and allow the males to continue due to lack of funds/finances.
Poverty wears the face of a woman because women don’t have say and are alway forced into early marriages with little or no knowledge about marriage and end up giving birth to 10 children after 10 years of marriage.
In conclusion, poverty has a female face and the global economic downturn will have a significant impact on women as more of them lose jobs, and are forced to manage shrinking households.
2. Other criteria created by the world Bank for measuring development and underdevelopment are:
(A). Population Growth.
(B). Occupational Structure of the Labor Force.
(C). Consumption per capita.
(D). GNP per capita.
(E). Level of Infrastructure.
(F). Level of urbanization
(G). Social Conditions.
(F). literacy rate.
(G). life expectancy.
(H). Health care availability.
(I). Infant mortality.
3. (a). Low levels of productivity: This is a situation whereby a developing country is unable to produce enough goods and services for its citizens. This can be as a result of laziness among workers, negative attitude to work probably as result of low salary payment and no incentive to work. Low levels of productivity at a workplace can also affect the employee’s morale, hinder efficiency, and affect their profit margins.
(b). Low levels of living: This is a situation whereby citizens of a developing country are not able to afford a level of standard of living. They live in poor environment because they’re not able to afford a better one.
(c). High rate of population growth and dependency burdens: A developing nation often has the characteristics of high population growth because in most of this countries there are less to no educational enlightenment concerning family planning and child bearing. So in the absence of this educational enlightenment the citizens of this countries tend to have too many children and as a result become dependent on other people because they’re not able to feed all the children.
(d). Traditional rural social structure: A developing nation is often characterized as traditional and rural. You cannot tell the difference between a town and a village because they all look the same. There is no industrial development in such countries and so they’re limited to the village life and village methods of living.
(e). Widespread poverty: A developing nation is often characterized with poverty. Since there are no industrial development and high population, the citizens are not able to get a well paying job and so they live in poverty.
(f). Substantial dependence on agricultural products and primary product export: Because there are no other methods of living in a developing nation, citizens depend on farming. Everything they eat are been cultivated and only little are been exported.
4. Yes I do agree. Poverty has a woman’s face. Why?
Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities.
Name: Mgboh Chidera Martins
Reg No: 2019/242146
Dept: Economics
1. The Third World, or developing countries in Asia, Africa, and Latin America, are typically seen as being impoverished and having economies that are distorted due to their reliance on exporting raw materials to wealthier nations in exchange for completed goods. Along with having unstable administrations, these countries frequently have high rates of sickness, illiteracy, and population growth. When nonaligned countries gained independence from colonial domination following World War II, the term “third world” was initially used to set them apart from Western countries and former Eastern Bloc members, and sometimes more particularly from the United States and the former Soviet Union (the first and second worlds, respectively)
2. (i) Human Development Index (HDI)
The HDI is a composite statistic calculated from the:
• Life expectancy index
• Education index
• Adjusted income index(purchasing power parity)
(ii)Gross domestic income (GDP)
(iii) Gross national income (GNI)
(iv) Infant mortality rate
(v) Gender empowerment index
3. (i) low standard of living: a developing nation have a low standard of living, because the resources are not available to meet their basic human need. Needs such as shelter, clothing, food etc are not meet due to low per capital income or other factor in the nation can lead to these.
(ii) High rate of population: a developing nations have a high rate of population growth due to high population growth and scarce resources in the nation, it lead to many negative effect in the nation such as, lack of job and opportunities, high rate of crime in the society.
(iii) Increase in the level of unemployment: Due to the fact that resource in developing nation are not fully utilized this lead to increase in unemployment as a result of no labour forces in the nation and low standard of economy.
(iv) low level of productivity: developing nation have a problem of low productivity due to lack of man power to manage the resources, and corrupt leaders that will embezzled the resources all to their selfs.
(v) Dependence on Exports of Primary Commodities: Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector.
4. Yes poverty has the face of a woman. The statement poverty has the face of woman try to explain how woman in many countries are disadvantage of having lower profile level of education, lower ownership and control over assets, and lower social indicators than men.
Improving female education, and thus the earning potential of women, improves the standard of living for their own children, as women invest more of their income in their families than men do. Women’s education is important for women’s health as well, increasing contraceptive use while lowering sexually transmitted infections, and increasing the level of resources available to women who divorce or are in a situation of domestic violence. Education also improves women’s communication with partners and employers and their rates of civic participation. We could see that improving in female education is a good indicator of rich growth rate among women in many countries of the world.
Sesugh Lucy Ngufan Ngufan
2016/235894
Economics/Philosophy
Question 1
A hypothetical war between India and China would be one of the largest and most destructive conflicts in Asia. A war between the two powers would rock the Indo-Pacific region, cause thousands of casualties on both sides and take a significant toll on the global economy. Geography and demographics would play a unique role, limiting the war’s scope and ultimately the conditions of victory.
China has undergone an unprecedented transformation from third world country to global power. Much of the credit is given to Deng, who oversaw a new set of economic policies known as gaige kaifang (reform and opening), dismantling the agrarian commune system in favor of a household responsibility system and opening coastal cities to trade and investment.
Capitalism
System of government is democratic
Property is privately owned
Driven by free enterprise
Wealth distributed unevenly
Education and health care provided by private entities
Freedom of the press Class distinctions: upper class,middle class and working class.
Focus is on the individual and his/her own progress in life.
System of government is totalitarian
Property is owned by the state
No free enterprise is allowed
Wealth distributed equally
Education and health care provided by the state
Press controlled and owned by the state
Classless society: all members of society are considered to be equal.
The map above shows the two major geopolitical blocs, some ‘neutral,’ non-aligned countries, and countries of the Third World in the period between the end of the Second World War and the collapse of the Soviet Union (USSR) in 1991.
The era known as the “Cold War” was a political constellation of countries with two different world-views. On one side were the industrialized capitalist nations aligned with the USA, called the Western Bloc, which likes to call itself the “Free World” or the “Western world.” On the other side were the Communist workers and peasants states of the Eastern Bloc, the socialist countries within the power fabric of the Soviet Union, and Mao’s China. In Europe, there were some neutral countries, and there was the rest of the world, the Third World.
This discussion describes the ways in which China is both capitalist and communist as well as the economic challenges it faces.
The Third World was all the other countries. The mainly underdeveloped agricultural states and nations of Africa, Asia, and Latin America, where the blessings of civilization benefited only a small ruling elite and the corporations and upper classes of the former colonial powers.
In principle, the term Third World is outdated but still in use; today, the politically correct designation would be less developed countries.
Nowadays, the term Third World is more often replaced by the terms Least Developed Countries (UN) or Low-Income Countries (World Bank.)
Whatever term is used, it serves to designate countries that suffer from high poverty, high child mortality, low economic and educational development, and low self-consumption of their natural resources. Countries that are vulnerable to exploitation by large corporations and industrialized nations.
These are the developing and technologically less advanced nations of Asia, Africa, Oceania, and Latin America. Third world nations tend to have economies dependent on the developed countries and are generally characterized as poor with unstable governments and having high fertility rates, high gender-related illiteracy and are prone to diseases. One of the critical factors is the lack of a middle class; there is a huge impoverished population and a small elite upper class that controls the country’s wealth and resources. Most Third World nations also have very high foreign debt levels.
Third World Countries classified by various indices: their Political Rights and Civil Liberties, the Gross National Income (GNI) and Poverty of countries, the Human Development of countries (HDI), and the Freedom of Information within a country.
So, after the enormous economic and social changes he unleashed can we best describe China as a Communist country with a veneer of market economics or is it a capitalist country with a nominally Communist government? Perhaps it is both: ‘state capitalism’ with a framework of Communist party rule.
QUESTION TWO
The Countries in which the process of development has started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index.
Gross National Income (GNI) is the total amount of money earned by a nation’s people and businesses. It is used to measure and track a nation’s wealth from year to year. The number includes the nation’s gross domestic product (GDP) plus the income it receives from overseas sources.
The more widely-known term GDP is an estimate of the total value of all goods and services produced within a nation for a set period, usually a year. GNI is an alternative to gross domestic product (GDP) as a means of measuring and tracking a nation’s wealth and is considered a more accurate indicator for some nations. The U.S. Bureau of Economic Affairs (BEA) tracks the GDP to measure the health of the U.S. economy from year to year. The two numbers are not significantly different. Finally, there’s gross national product (GNP), which is a broad measure of all economic activity.
Developing countries show, among other things, a significantly lower per capita national product, low labor productivity, a high illiteracy rate, and a high share of agricultural employment compared to industrialized countries.
Also known as less developed countries or emerging markets. Developing countries Gross Domestic Product (GDP), Gross National Income (GNI) per capital income, literacy rate, level of technological development, industrialisation, infrastructure development and telecommunication connectivity besides other factors are lower than developed countries.
The idea of economic growth stems from classical economics where growth in national income represents the growth in the wealth of a nation – the classical hallmark of success. The concept of economic growth gained popularity during the industrial revolution, when market economies flourished. In the 1930s, Nobel laureate, Simon Kuznets wrote extensively about national statistics and propagated the use of GDP as the measure of the national income of the US. However, Kuznets took this measure with a pinch of salt and wrote, “The national income total is thus an amalgam of relatively accurate and only approximate estimates rather than a unique, highly precise measurement” (Kuznets, 1934).
QUESTION THREE
The countries in which the process of development has started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Here we will discuss the different characteristics of developing countries of the world.
Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
The common characteristics of developing nations are briefly explained below.
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity.
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving.
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
QUESTION FOUR
Well I think poverty has a woman’s face around . And I think in my opinion it can be due to the following reasons :
There is more women population in the world than man so when doing research is easier to sample women.
As much as it’s known that a man is a provider , a woman has to be the one that provides for the kids in the interim while the man goes to “hunt”.
I have noticed that on social media and TV when pictures are showed to potray or express poverty in most cases it is a picture of women and children.
I do not think that one should put a face to the world’s disease, called poverty. Some people may argue about its sources, and on this point I would agree with Ruwadzano comment that “women are often on the forefront of poverty” where men are presented to be the main income creator, but still this does not mean that one can connect this phenomenon with gender. From the moment that we start to theorize about poverty’s gender, we are trapped because it does not help us in any case, in fact provokes many questions and in some way destroys the concept of gender equality. It is true that tha mass media expresses poverty by using the picture of women and children, but I think is created with an aim, to show us how important it is for this world to help the mothers in need, but it does not serve to show that poverty has a women’s face. Anyways, I am so glad you raised this question because there are various aspects that should be considered and analyzed.
ASSIGNMENT ON ECO 361
NAME : ODO PHILOMINA CHINASA
REG NO : 2020/244344 (2/3)
DEPARTMENT: SOCIAL SCIENCE EDUCATION.
TOPIC : CHARACTERISTICS OF DEVELOPING NATIONS.
1. Wide spread poverty : In developing nations, there is wide spread poverty. The percentage of of people that are poor are more than the rich, reason, because some of them are unable to provide their basic needs such as food, shelter and clothing.
2. Low level of per capita income : In developing nations, per capita income of their citizens are very low when compared with those in developed nations. In developing countries, per capita income is very low, for that , citizens find it difficult to invest or save money when they have insufficient money that can sustain them. A situation where somebody cannot provide for his basic needs such as food, shelter clothing, he will find it difficult to invest or save for future use.
3. Low productivity : There are low productivity in developing countries due to lack of factors responsible for production such as land, labour, capital and skilled manpower.
4. High rate of population : Many developing countries has large size of population. Because their population is high , their standard of living is typically low. Hence, they suffer malnutrition.
5. High level of unemployment : One of the major problems of developing countries is high level of unemployment. For instance , in Nigeria, graduates roam the streets in search of white collar jobs that are not available. Lack of employment is caused by poor leadership.
6. Low industrial development : Developing countries lack investment. For this reason, there is lack of utilization of natural resources because the manpower is not skilled enough to harness or tap the natural resources available in the developing countries. Hence, graduate engage in menial jobs which is identical to a square peg in a round room. While others engage in crime such as yahoo, scamming and scheming.
7. Dependency and vulnerability : One of the characteristics of developing is countries are dependency and vulnerability. They depend so much on foreign goods or foreign products thereby making their economy vulnerable. They develop taste for foreign products and aversed to local or home made products.
8. Lack of infrastructure : In developing countries , there are lack of infrastructural development. There are lack of good roads, lack of stable financial institution, epileptic power supply, lack of communication network, lack of good transportation network, lack of standard education institutions, poor agricultural development to mention but a few.
9. Traditional rural social structure : Most developing countries are characterised with traditional rural social structure. There are still wide gap in the status of men and women. For example, in most communities in Nigeria, women are still regarded as weaker sex and are assigned feminine role. 8
10. Subsistence agricultura: In most developing countries, 65% of them engaged themselves in subsistence agriculture.
ASSIGNMENT ON ECO 361
NAME : ODO PHILOMINA CHINASA
REG NO : 2020/244344 (2/3)
DEPARTMENT: SOCIAL SCIENCE EDUCATION.
TOPIC : CHARACTERISTICS OF DEVELOPING NATIONS.
1. Wide spread poverty : In developing nations, there is wide spread poverty. The percentage of of people that are poor are more than the rich, reason, because some of them are unable to provide their basic needs such as food, shelter and clothing.
2. Low level of per capita income : In developing nations, per capita income of their citizens are very low when compared with those in developed nations. In developing countries, per capita income is very low, for that , citizens find it difficult to invest or save money when they have insufficient money that can sustain them. A situation where somebody cannot provide for his basic needs such as food, shelter clothing, he will find it difficult to invest or save for future use.
3. Low productivity : There are low productivity in developing countries due to lack of factors responsible for production such as land, labour, capital and skilled manpower.
4. High rate of population : Many developing countries has large size of population. Because their population is high , their standard of living is typically low. Hence, they suffer malnutrition.
5. High level of unemployment : One of the major problems of developing countries is high level of unemployment. For instance , in Nigeria, graduates roam the streets in search of white collar jobs that are not available. Lack of employment is caused by poor leadership.
6. Low industrial development : Developing countries lack investment. For this reason, there is lack of utilization of natural resources because the manpower is not skilled enough to harness or tap the natural resources available in the developing countries. Hence, graduate engage in menial jobs which is identical to a square peg in a round room. While others engage in crime such as yahoo, scamming and scheming.
7. Dependency and vulnerability : One of the characteristics of developing is countries are dependency and vulnerability. They depend so much on foreign goods or foreign products thereby making their economy vulnerable. They develop taste for foreign products and aversed to local or home made products.
8. Lack of infrastructure : In developing countries , there are lack of infrastructural development. There are lack of good roads, lack of stable financial institution, epileptic power supply, lack of communication network, lack of good transportation network, lack of standard education institutions, poor agricultural development to mention but a few.
9. Traditional rural social structure : Most developing countries are characterised with traditional rural social structure. There are still wide gap in the status of men and women. For example, in most communities in Nigeria, women are still regarded as weaker sex and are assigned feminine role. 8
10. Subsistence agricultura: In most developing countries, 65% of them engaged themselves in subsistence agriculture.
Name: Okechi Paschal makuo
dept: library and information science
Reg no:2019/247596
Email: makuookechi@gmail.com
1:It is true that China and India, as two of the most populous countries in the world with vastly different social and economic systems, played significant roles in promoting the political emergence of third world countries and changing the relations between the third world and industrial countries, both capitalist and communist.
China, under the leadership of Mao Zedong, promoted a socialist model of development that emphasized self-reliance, rural development, and a rejection of Western-style capitalism. China’s model of socialism attracted the attention of many third world countries, particularly after the Chinese Communist Party came to power in 1949. China provided material and ideological support to many third world liberation movements, including those in Africa and Latin America, and also played a key role in the establishment of the Non-Aligned Movement, which sought to promote the interests of developing countries in the face of Cold War superpower rivalry.
India, on the other hand, pursued a more mixed economy model, combining elements of socialism and capitalism. India’s first Prime Minister, Jawaharlal Nehru, promoted a vision of non-alignment and cooperation among developing countries, and India played a key role in the Bandung Conference of 1955, which brought together leaders from Asian and African countries to discuss the challenges facing the developing world. India also provided material and political support to various liberation movements, particularly in Africa.
Together, China and India’s influence helped to shift the balance of power in international politics, particularly in the context of the Cold War. Third world countries began to assert more independence and demand greater recognition of their interests, and the traditional power structures dominated by Western capitalist and communist countries began to erode. The legacy of China and India’s involvement in the third world continues to be felt today, as many countries in Africa, Asia, and Latin America continue to seek ways to promote their own development and assert their interests in the face of ongoing global challenges.
2:Yes, that is correct. Gross National Income (GNI) per capita per year is one of the most commonly used measures for classifying countries as either “developed” or “developing”. However, there are many other criteria and indicators that are also used to measure development, such as:
1. Human Development Index (HDI): The HDI measures a country’s progress in terms of three key dimensions of human development – health, education, and standard of living.
2. Poverty rates: The percentage of the population living below the poverty line is a commonly used indicator of underdevelopment.
3. Access to basic services: Access to basic services such as health care, education, and clean water are considered important indicators of development.
4. Economic diversification: A diverse range of industries and economic activities can indicate a more developed economy.
5. Political stability: A stable political environment is often considered a prerequisite for development.
6. Technological advancement: The level of technological advancement in a country can indicate its level of development.
7. Infrastructure: A country’s infrastructure, including transportation, communication, and energy systems, can be an important indicator of development.
These indicators are often used in combination to provide a more comprehensive picture of a country’s level of development or underdevelopment.
3Developing nations, also known as less-developed countries (LDCs), are countries that are in the process of improving their economic, social, and political conditions. While the specific characteristics of developing nations can vary depending on the country in question, there are several common characteristics that are often associated with these nations.
1. Low levels of economic development: Developing nations often have low levels of economic development, which means they have lower per capita income, lower levels of industrialization, and less developed infrastructure compared to developed nations.
2. High levels of poverty: Poverty is a common characteristic of developing nations. This is often due to a lack of economic development, limited access to education and healthcare, and inadequate social safety nets.
3. Dependence on primary sector exports: Many developing nations depend on the export of primary commodities such as agricultural products, minerals, and oil to generate income. This makes these economies vulnerable to fluctuations in commodity prices and can hinder economic growth and development.
4. Limited access to education and healthcare: Developing nations often have limited access to education and healthcare, which can contribute to a cycle of poverty and poor health outcomes. This can also limit opportunities for economic growth and development.
5. Political instability: Political instability is often a characteristic of developing nations, with frequent changes in government, civil unrest, and conflict. This can make it difficult to implement policies and initiatives that promote economic growth and development.
6. Weak institutions: Developing nations often have weak institutions, including ineffective legal systems, corrupt bureaucracies, and inadequate infrastructure. This can hinder economic growth and development and limit the effectiveness of government policies.
7. Rapid population growth: Many developing nations have high rates of population growth, which can put pressure on limited resources and exacerbate poverty and social inequality.
Overall, the common characteristics of developing nations reflect the challenges these countries face in achieving economic and social development. Addressing these challenges requires a multifaceted approach that includes policies to promote economic growth, improve access to education and healthcare, strengthen institutions, and address political instability and social inequality.
4:The statement that “poverty has the face of a woman” is a commonly used phrase that reflects the reality that women are disproportionately affected by poverty. This is particularly true in developing countries, where women are more likely to be poor than men due to a variety of factors such as gender discrimination, limited access to education and economic opportunities, and unequal distribution of resources.
There are several reasons why women are more likely to experience poverty than men. Firstly, women often have limited access to education, which limits their ability to acquire the skills needed to secure well-paying jobs. Secondly, women are often employed in low-paid and informal sectors of the economy, which offer limited job security and benefits. Thirdly, women are more likely to be responsible for unpaid care work, such as caring for children or elderly relatives, which limits their ability to participate in paid work.
Furthermore, women are more vulnerable to poverty due to their reproductive role. Women are more likely to be single parents, and they often have to provide for their children on their own. Women also have higher healthcare costs due to their reproductive needs, which can lead to financial strain.
In conclusion, it is clear that poverty has the face of a woman. While poverty affects both men and women, women are disproportionately affected due to a range of social, cultural and economic factors. Therefore, policymakers must address gender inequality to reduce poverty and promote economic development. This can be done by improving access to education and training for women, promoting gender equality in the workplace, and reducing the burden of unpaid care work.
OGBONNA MMESOMA RITA
REG NO: 2019/243578
DEPARTMENT: ECONOMICS EDUCATION
EMAIL: alexmmesoma4@gmail.com
ANSWER TO QUESTION ONE (1)????
Afro-African conference of 1955 in Bandung, Indonesia signaled the beginning of the influence of the third world (or non-aligned states) in international political matters – a meeting so pivotal that the west specifically the United States tried to thwart. In attendance were 29 countries asides from the Indonesian president representing nearly one quarter of the earth surface and a total population of 1.5 billion people. However among these countries, two (China and India) have been most instrumental to the emergence of the third world and the improvement of relations between them and the rest of the world.
As to the international political rank of a country two major factors come to mind, the economic and the military might – some authors have even gone as far as comparing them to left and right arms respectively.
With respect to the above we look at China. Economically we see a country that has arisen from the ashes with GDP growth rate according to the World Bank averaging 9% from 1978 till date with the country being known as the manufacturing hub of the world. A country that has risen so much that it became a threat to the west especially the United States as we can see from the trump trade bans. Militarily we see a permanent member of the United Nations Security Council, ranking 3rd in military might behind only the US and Russia according to the global fire power’s power index.
Following closely behind in all this is India. According to the economic times India’s GDP growth rate from 2000 till 2019 averaged 6 to7% annually. Militarily India ranked fourth behind china, with lots of talks circulating on its addition as a permanent member of the United Nations Security Council. In fact Ukrainian president Volodymr zelenskyy specifically called for India’s participation in the war in Ukraine – a sign that India is becoming influential in the international sphere. Also it recently took charge of the G-20.
These countries have particularly helped to show that the third world will not be relegated to the backseat of international politics, yes they only just began getting treated as equals among nations(many of these countries are young relative to their developed counterparts), but they have a voice and they will be heard.
As these countries are yet developing countries they have boosted the voice of the global south. I guess Alfred sauvy’s “they are nothing and they want to be something” should be extended, “… they will be something” as china and India have shown us.
ANSWER TO QUESTION TWO (2)????
The World bank and other Bretton woods institutions recently use two methods to compare and classify the economies of countries into low, lower middle, upper middle and high-income groups. This grouping help to serve as an indicator for development and underdevelopment across nations. The two methods postulated by these institutions are;
# Telamon method: This is a method used by the world bank since 1993 to estimate the size of other countries economies in terms GNI in U.S. dollars, using various factors which affects the changes in the development in each country. To use this method, a country’s GNI using their local currency is first converted into dollars using the Atlas conversion factor, which uses a 3-year average of exchange rates to smoothen the effects of transitory exchange rate flunctuations, adjusted for the difference between the rate of inflation in the home country and that in a number of developed countries, the resulting GNI in dollars will then be divided by the home country’s mid year population to get the GNI per capita.
# Another method is changing Income classification threshold by using special drawing rights deflator. This Special Drawing Right (SDR) is an interest bearing international reserve asset created by the IMF in 1969 to supplement other reserve assets of member countries. Therefore, SDR is not a currency rather it is based on a basket of International currencies that are adjusted annually for inflation so as to supplement the member country’s claim on the freely usable currencies, held only by IMF member countries, thereby providing liquidity for countries.
ANSWER TO QUESTION THREE(3)????
@ Low Per Capita Income: When compared to rich countries, developing countries often have lower average income levels. As a result, there are high rates of poverty and insufficient funds for social services including healthcare, education, and welfare. When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty.
@ Agriculture-based Economies: Agriculture is a major source of revenue and employment in many developing countries. They may become more susceptible as a result of variations in agricultural prices and climate change. In developing countries, especially in rural regions, the majority of people work in agriculture. In some countries, agriculture is the only industry that provides work and revenue. Additionally, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly.
@ Lack of infrastructure: Developing countries frequently lack basic infrastructure, including insufficient electricity, transportation, and communication networks. This may hinder economic expansion and make it challenging for companies to function. In developing countries, infrastructure is not properly developed, including the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Additionally, constructed infrastructure is poorly managed and not allocated in an effective and equitable manner. This has put these countries’ ability to develop at risk.
@ High Degrees Of Corruption: High levels of corruption are common in developing countries, which can slow economic growth and deter foreign investment.
@ Dependence On Foreign Aid: Developing countries depend heavily on aid from other countries to survive and develop, which leaves them open to the political and economic whims of donors.
@ High Poverty Rank: The percentage of the population in developing nations that lives in poverty is known as the high poverty rate. Access to fundamental services like healthcare, education, and other necessities is frequently to blame for this. The majority of people in developing countries have been affected by the issue of poverty. Even their most basic requirements cannot be met. The issue of poverty is also reflected in the low per capita in emerging countries. So, in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access.
@ Low Life Expectancy: Developing nations have low life expectancies, which are frequently caused by poor living circumstances and a lack of access to healthcare.
@ High Rate Of Illiteracy: The percentage of the population who are unable to read or write is high in developing nations. Lack of access to education is frequently to blame for this.
@ Environmental Impairment: Developing countries frequently experience high levels of environmental deterioration, which can be brought on by excessive exploitation of natural resources and a lack of environmental laws.
@ The Productivity Of Factors Is Similarly Poor In Undeveloped Countries. This is a result of a lack of funding and administrative expertise needed to acquire breakthrough technology and policies and manage them successfully. Lower productivity in developing countries is ascribed to a variety of causes, including malnutrition, inadequate access to healthcare, a strong social support network, living in an unsanitary environment, employees’ bad health and stressful work environments, etc.
@ High Consumption And Low Saving: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help.
ANSWER TO QUESTION FOUR (4)????
Yes,I agree
The argument that poverty has the face of a woman is true. This is due to a variety of factors such as discrimination in the workforce, lack of access to education and resources, and societal expectations and norms that limit women’s opportunities. Additionally, women often bear the primary responsibility for caring for children and elderly family members, which can make it difficult for them to work and earn a stable income. As a result, women are more likely to live in poverty and have less financial security than men.
Although poor income is the main factor contributing to female poverty, there are other interconnected causes of this issue. Women’s access to basic necessities like food and shelter as well as their potential for progress are restricted by a lack of cash.Women’s lifelong earning potential is decreased since they lack access to healthcare and basic education due to their disproportionately lower income than males. Motherhood’s obligations place further restrictions on women’s economic advancement. The homes most at danger of poverty are those headed by lone mothers or without a guardian or second parent. The likelihood of poverty is highest in female-headed families (when no male is present) since there are fewer family income providers. Lone mother families are related to concerns of gender inequality since women are more prone to poverty and lack basic necessities than males.
Women who live in poverty have less access to healthcare resources and services. Women suffer from poor health outcomes disproportionately, in part because of the cost of childbirth. Poor health made it harder for women to make a living, which is a major contributor to the growth and maintenance of family poverty. Therefore, expanding health care to women might reduce how feminized poverty is. Greater chances for women to escape poverty and advance in society can be created through educating women and children, especially girls. Women’s access to fundamental education is restricted in nations with severe gender discrimination and social hierarchy. Even within the family, females’ education is sometimes neglected so that their brothers can go to school.
Women throughout the world have few employment options. Due to their uneven access to lucrative and satisfying employment options, women are frequently unable to materially manage their surroundings. There are official and informal vocations in the workforce. Government regulation governs formal employment, and employees are guaranteed a pay and specific rights. In tiny, unregistered businesses, there is informal employment. Since so many women work in unorganized settings, there is less control over how they are employed.
EZUGWU JOHNSON CHINECHEREM
2019/245390
ECO MAJOR
1. China and India have now become global economic powers. Even at the market exchange rate, China overtook Japan in 2010 as the world’s second largest economy. China’s trade and financial activities, India’s emergence as a technology and innovation hub and both countries’ commerce and investment interactions with other developing nations have been covered extensively in all forms of media.China and India are now both regarded as economic and political drivers of the international economy, particularly in the trade arena and in regards to global governance. Their economic engagement with developing countries and regions entails interactions in the areas of labour, human rights, international relations, security and environmental sustainability. The potential threats are mostly associated with trade and financial flows and with the social and political implications of China’s financial outflows.Not with stand in, in the midst of the recent global economic crises, China and India’s demand for developing country goods proved to be a cushion to the declining flows of resources from advanced nations. China and India influence global economic and political dynamics and can provide alternative sources of development assistance for developing countries. They can also provide a number of potential lessons for other developing countries, three of which are highlighted in this article: absorption of surplus labour, raising of domestic and foreign investment and support for R&DLabour market resemblance are key in understanding how economic growth has led to taking in of surplus labour in these economies — particularly in China. Here surplus labour from the traditional agricultural sector has shifted to the progressive industrial sector, thus promoting industrialization.Characteristics of China’s labour market include an extensive rural-urban inequity, rapid rural-urban migration (despite various restrictions) and high and rising real wages in the formal sectors. In this respect, it has much in common with other emerging economies, such as South Africa. It is instructive however, to draw out the differences between China and South Africa, as this may hold some general lessons for the role of labour market dynamics in economic growth.China, a labour-surplus economy, is rapidly experiencing a scarcity of labour. In contrast, South Africa — which historically has featured worker shortages — is increasingly suffering from a labour surplus in the form of open unemployment. South Africa’s labour market structure is affected both by the rural-urban migration as well as from inflows of foreign workers.2. The traditional way of measuring development was brought forth by the United Nations Development Program (UNDP) which measures a country’s development in three perspectives namely: Longevity, knowledge and the standard of living in the country. They use the range 0 to 1 to determine the level of development of any nation.The longevity aspect measures the life expectancy of individuals in a nation, this has to do with the health stature of the people and the diseases the takes life in the country and how it is being eradicated.The knowledge aspect looks at the literacy tendency of the people in a nation, both of the tender age, those in the university and the number of literates in the society. With this measure, they’ll be able to tell if the number of educated persons in the country is high or low.The last phase of measurement is on the standard of living of a nation, this checks on their GDP and how well it used in the country.Unfortunately, this traditional method of checking Human Development Index has so many set back that makes not to tell of the real development measure, in regards to this, the United Nations, coupled with World banks and other Bretton Woods institutions came up with a way of improvement and a better way to measure the socioeconomic development of a nation. The following are the changes made.The use of Gross Domestic Product (GDP) as a measure of a nation’s development was replaced with Gross National Income (GNI). This is because, GNI shows the income earn and spent by citizens of a nation who are both in and outside the country.Also, the education index used in measuring the rate at which knowledge is in a country has been improved. Two new components have been added: the average actual educational attainment of the whole population and the expected attainment of today’s children. With this two added measures, there can be distinction between children who are still attending knowledge at a tender age and those who are at an upper stage.Expected educational attainment: This also was added because, most students in many countries do not complete the expected level of educational attainment. Most of such case is in Nigeria. With this means, they also check the development of a nation.Also, literacy has been replaced with the achievement of educated person. Why this came up is that, in most countries, especially in developing ones, the standard of education in such countries is very low, that is why a graduate cannot speak fluent and well constructed English. With this and many others factors surrounding this issue, it has been concluded that the literacy of individuals shows a lot in their achievements, both intellectually and in a creative manner.Instead of using the common logarithm (log) to reflect diminishing marginal benefit of income, the NHDI now uses the natural log (ln), this reflects a more usual construction of indexes.Lastly, the most consequential change is that the NHDI is computed with a geometric mean.All these changes made by the United nations, World Banks and the Brett on Woods institutions made it easy to appropriately compute and measure the socioeconomic development of a nation.3. The common characteristics of developing nations are as follows:Lower levels of human capitalLower levels of living and productivityHigher levels of inequality and absolute povertyHigher population growth rateGreater social fractionalizationLarge rural populations but rapid rural to urban migrationLower levels of industrialization and manufactured exportsAdverse geographyUnderdeveloped marketExport dependenceLower levels of human capital: It is clear that as human beings cannot do without the basic necessities of life such as food, shelter and clothing, so also it is for any nation to stay without the basic human capitals such as health, education and skills. Looking at them closely as follows:Health: It is the state of being free from physical or psychological disease, illness, or malfunction. For developing nations that are still under the verge of getting to know more about health like the developed nations, their health facilities are still very poor likewise the medical practitioners and operators. A point of reference can be the case of Nigeria whose medical facilities are not worthful as compared to other nations like India, America, China, etc. Most of our politicians in Nigeria, whenever they fall sick no matter the how small the illness may be are being flied abroad to receive treatment while the citizens are left to feed under the excretes of the low health facilities. Taking some analysis of past years, the under 5 mortality rate is 17 time higher in countries with low income due to health issue, therefore, nations that are still developing are to look into the area of health in order to save lives.Education: Another low level of human capital in developing countries is education. Most developing countries are not aware of the importance and the benefit of education and as such, it is being played with. In our country Nigeria, the value of education has been downtrodden by the present government, that is why there have been series of strikes from workers and still the response of the government is at a discouraging rate. For a country or nation to have a good level of education, the government should be able to plan and to put in place all the necessary things needed for good learning beginning from the low level of education up to the higher institution. Due to the lack of good education system in developing countries, there is likeliness of illiteracy in such nations and even those that claims to be graduates are not competent enough for the name they bear.Skills: Skill acquisition is one of the main goals of education. When there is a low level of education in a nation, the skills to be acquired by the youths are not there. In a country like China, every child born at the age of 18 is out of school and has something to do, at a tender age, each child is being taught how to do one thing or the other so that they can progress. If the developing nations would practical method of learning to the other methods, there would be change.2. Lower levels of living and productivity: The developing nations are characterized by lower level of living due to the situations they found themselves. In a nation where all the different economic sectors are not functioning well, then, there is possibility for a low standard of living and productivity. Looking at the various sector of production in a country like agriculture, if the nature of production in the country is subsistence farming where farmers produce only for consumption, then, there is always a low standard of living. Here, for them to progress, the government should provide them with the modern mechanized tools for farming whereby they can produce for but consumption and for sales which will generate income. If 70% of the country is into a mechanized system of farming, imagine for 5 years, what will be the income of the farmers, with this, the farmers after getting enough income can further get other processing machines that can process and package those primary products they have gotten and also sell them. Like the agricultural aspect, if such is applied to other aspects, there will be growth and development.3.Higher levels of inequality and absolute poverty: It is true that resources are not evenly distributed, the same way those resources are inequitably distributed, in like manner are the income gotten from there are unevenly distributed. This case of inequitable distribution of income happens even in the developed countries, but their case is different because they are rich and it is not at a high rate, looking at an undeveloped country where there is less income as compared to developed nations, the inequality in the distribution of income is very high because the income at first would not be able to go round and to satisfy all members of the country, also, there is lack of comprehensive method of distribution of such income, therefore, in such a nation, some part of the country may earn higher than others while other may not get anything at all, as a result of this inequitable distribution, there is reduction in production. Example is the case in Nigeria where the proceed from crude oil which is gotten from the south are all used to develop the North leaving the other parts of the country undeveloped.4. Higher population growth rate: The number of population in a developing countries is actually high due to some reasons. For example, people believe that the more you have children, the more you’ll have enough laborers to work in your farm and to make more gain. Also, there is this believe that having a large family is a pride to that family. This happens due to lack of knowledge and understanding of the new methods of work used in developed countries. Also, there is lack of family planning in developing countries, for example, in China, a family must not have more than two children, with this you can see that the rate at which birth is given is under control. Research has it that, from 1990 to 2008, the population in developing countries increased at 2.2% yearly while in developed countries, the rate at which the population increased was at 1.3%, with this over population, there is increase in dependency rate in the developing countries and this leads to more problems.5.Lower levels of industrialization and manufactured exports: The other deep rooted problem of developing countries is low level of industrialization and manufactured exports. In many developing countries, the number of industries found in such countries are quite discouraging, the reverse case is that, in most of these developing countries are found enough resources that can be processed into finished goods. A direct case is that of Nigeria. Nigeria is blessed with crude oil which up till date is the main source of its income in the country, but if asked, how many refineries are there in Nigeria? The answer would be a heart broken one. Nigeria extracts crude oil and sent it abroad to be refined after which they pay for it refining and then sell back to the people, if Nigeria can have up to even 5 refineries, it would make more gain and its good would have value than before, that is why naira is depreciating almost everyday. With the location of industries in a developing country, there will be less import of manufactured goods, rather they will export more goods to other countries.6. Underdeveloped markets: The market structure of the developing countries are always not developed because they are in the process of development, and being in a rural area, they lack some of the necessary things a developed market supposed to have such as: (1) a legal system that validates property rights and enforce contracts (2) a stable and trustworthy currency (3) a good infrastructure of roads and utilities that leads to low transport cost and communication cost which facilitate interregional trade (5) a developed banking system for keeping of money (6) social rules and regulations that facilitate successful long term business relationship. When all these are not in place in a developing countries, the need for a developed market is at stake.4. World widely, the World Bank made an estimate that 1.29 billion people are live in absolute poverty; the sad fact is that about 70 per cent of them are women. A point of reference is in Pakistan, it is no different, but without a national census, it isn’t even possible to gauge the correct picture. Poverty is difficult to quantify: the methodology used by the government has been under a critical challenged by the World Bank and the UNDP, while independent organisations consider poverty to be above 28.3pc.Not withstanding, according to the Human Development Index, 2009, 60.3pc of Pakistan’s population lives on $2 per day. From the records regarding Unesco, 71pc of eligible girls did not attend secondary school in 2009. Gender discriminatory practices shape and made poverty real: as expected, more women are at the suffering end. They suffer poverty of opportunities far more than men do suffer it. Poverty gives rise to social powerlessness, debilitation, and political disenfranchisement, and these add to the vulnerability of the poor.The reasons for such high poverty levels are several: corruption, illicit capital flight, debt and loan conditionalities, high defence expenditures, and now, extremism. Those are the general ones.Borrowing from what Tahira Abdullah said, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.Their poverty is said to be multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many of the women.Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.The risks of increasing poverty grow in parallel with the number of women-headed households and this is appalling. Single mothers are at highest risk, as are their children, who are likely to be deprived of both adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.There is no new thing as surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.Few poor women have hope of escaping this poverty as there are so many odds stacked against them. Despite laws that favour them, even richer women are regularly denied land inheritance by emotional coercion, forced marriage.If women are to progress and participate effectively in the economy, they must receive equal education, equal training, in rural and urban sectors and equal dignity and income. Pakistan cannot achieve progress on the efforts of less than half its population.With all these, I believe that poverty has a woman’s face.
Name: UKWUEZE DESTINY AMARACHI
Reg no:2018/242416
Department: Economics
1: In the following decades, the current international order will likely be put to the test as China and India become major world powers. The current international system will change as the two powers develop, which will have significant effects on them, the United States, and the rest of the globe.And the future nature of the system will depend on whether they concur with the necessary adjustments, particularly with regard to their connection with the West.Sino-Indian disparities on numerous problems of both bilateral and global significance are apparent when one closely examines Chinese and Indian viewpoints on the tenets of the newly forming international order.China and India frequently concur on the significance of state sovereignty and the necessity of reforming international institutions of governance to take into account the changing power dynamics. They both have a strong belief in the open economic system that has helped both powers succeed in the global economy.Both China and India want an Asia-Pacific region that is peaceful so they can maintain their economic growth, but their perspectives on dangers and priorities are extremely different.Crucially, China views the United States as greatly complicating its pursuit of its regional aims and is concerned about American containment efforts, while India desires a resolute American presence in the region to protect against potential Chinese excesses.Beijing and New Delhi both support the current maritime security system since they rely largely on open sea routes of communication.Nonetheless, there have been times when their interpretations of its terms have disagreed. China has focused the military aspects of its program and has major advantages over India in space, whereas New Delhi has only lately started developing space-based military technology.While both nations are just getting started with the challenging work of developing cybersecurity regulations, they have already taken action to restrict offensive or illegal online behavior.India has faced more public disapproval than its counterpart in trying to strike a balance between online freedom and social stability.
The ways that China and India address energy and the environment are generally similar.India and China heavily rely on foreign energy resource suppliers because of their countries’ expanding domestic energy consumption. This has driven both administrations to seek more efficient electricity sources and to secure their foothold in overseas energy markets. The two nations’ environmental policies generally center on immediate, regional issues that must be weighed against the need for economic expansion.A geopolitical event of historic proportions is being represented by the parallel emergence of China and India. Seldom has the world system seen the resurgence of two significant powers at the same time—states with sizable populations, long and illustrious histories, physical and political proximity, and dominance of the regions in which they are situated.The reemergence of an earlier era in Asian geopolitics when China and India were among the most significant concentrations of political power in the global system since the fall of Rome is thus heralded by their return to the fore after several centuries of imperial dominance.Modes:
The parallel revival of these two nations also dramatically exemplifies Asia’s resurgence in the global system. Although there has been a steady shift in the concentration of capabilities from West to East ever since the end of World War II, this transformation took a decisive turn when the smaller, early-industrializing nations of Asia—Japan, South Korea, Taiwan, and Singapore—were joined by the large, continental-sized states of China and India. The recent renaissance of China and India is owed in large measure to their productive integration into the liberal economic order built and sustained by American hegemony in the postwar period.
The simultaneous rebirth of these two countries also starkly highlights Asia’s resurgence in the international system. From the end of World War II, there has been a progressive shift in the concentration of capabilities from the West to the East, but this change took a decisive turn when China and India joined the smaller, early-industrializing Asian countries of Japan, South Korea, Taiwan, and Singapore. The productive incorporation of China and India into the liberal economic order created and upheld by American hegemony in the postwar era is largely responsible for their current revival.Both of these giants have recently seen extraordinary amounts of economic development as a result of that integration. For instance, China’s economic growth has been nothing short of meteoric, surpassing the already excellent record set by the first generation of Asian tigers between 1960 and 1990. During the past thirty years or so, China has shown real growth that is consistently higher than 9 percent yearly, with peak years seeing growth rates of 13 to 14 percent.As a result, from 1978 to 2003, China’s per capita income increased by more than 6% year, four times faster than the global average, much faster than any other Asian nation and much better than the 1.8% annual growth rate in Western Europe and the United States. Due to this achievement, China’s economy now ranks second globally in terms of purchasing power parity, with a GDP of almost $10 trillion in 2010.Several academics predict that at some time in the first half of this century, China’s GDP will surpass that of the United States. India’s economic growth hasn’t yet reached the same intensity or longevity as China’s. Economic reforms in New Delhi, which are responsible for the recent growth surge in India, didn’t start until the early 1990s, over a decade after China’s.
Due to the contestation that exists within India’s democratic politics, the complexity of the federal system there, the absence of elite agreement on important policy matters, and the persistence of significant rent-seeking entities within the national polity, these reforms have not yet been comprehensive or complete.
2: We can examine several facets of domestic and international economic activity using the indicators found in the Economics section. Economic indicators track levels and changes in the size and structure of various economies and pinpoint expansions and contractions as countries produce goods and services and either consume them domestically or trade them globally.
Economic indicators include measurements of macroeconomic stability and performance, such as gross domestic product (GDP), consumption, investment, and international trade (central government budgets, prices, the money supply, and the balance of payments). It also contains larger measurements of income and savings that have been adjusted for resource depletion, pollution, and depreciation. In order to monitor progress toward SDG Goal 2, which promotes sustainable consumption and production, and Goal 8, which promotes decent work and economic growth, numerous economic indicators from WDI are used.
A country or region’s economic activity can be measured to have a better understanding of how well off its citizens are financially.
The entire gross value added by all resident producers in the economy is referred to as the gross domestic product (GDP), a commonly used measure. GDP change at constant prices is used to gauge economic growth. To enable cross-country comparisons of socioeconomic and other data, many WDI indicators use GDP or GDP per capita as the denominator.
Gross National Income (GNI) per capita, which is calculated by dividing the total domestic and international value added claimed by inhabitants by the country’s population, is another important metric for evaluating a nation’s wealth and ability to support its citizens. Additionally, countries are categorized for operational purposes, such as lending eligibility and payback terms, using GNI per capita in U.S. dollars, which is converted from local currency using the Atlas technique.
For analytical purposes, it is also used to divide economies into the four primary income tiers of low-income, lower-middle-income, upper-middle-income, and high-income. Here you may find more details on the operational and analytical classifications. Every year, GNI per capita figures are released in July for the preceding year; data for 2017 will be released as part of the WDI database update in July 2018. Certain national data, nevertheless, are not made public until much later in the year.
3: characteristics of developing nation.
They are:
Low per capita real income:
When compared to rich countries, the real per capita income of developing nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in developing nations causes poor investment and savings, which leads to a vicious cycle of poverty. One of the biggest issues that undeveloped nations deal with is this.
Mass poverty:
The majority of people in developing countries have been affected by the issue of poverty. Even their most basic requirements cannot be met. The issue of poverty is also reflected in the low per capita in developing countries. Hence, in addition to low per capita income, poverty in underdeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access.
Rapid population growth
larger size of population increase or a larger population. Many factors contribute to the faster population growth in emerging nations. People are compelled to feel insured and have more children because of the higher newborn and child death rates in these nations. People in underdeveloped nations are also influenced to have more children by a lack of family planning information and options, a lack of sex education, and beliefs that having more children will increase the work force, which will increase income and riches. The idea of conservatism existing in such countries is another argument in favor of this.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
In developing countries, especially in rural areas, the majority of people work in agriculture. In these countries, agriculture is the only industry that provides employment and revenue. Also, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly.
4:I disagree that poverty should be treated as a disease of the planet. Others may debate its origins, and on this point I would concur with the statement that “women are frequently at the forefront of poverty” while males are portrayed as being the main source of revenue, but this does not imply that one can link this occurrence with gender.We are trapped as soon as we begin to think about poverty’s gender since it does not aid us in any way, actually raises a lot of issues, and inadvertently undermines the idea of gender equality.It is true that the media often depicts poverty through images of women and children, but this, in my opinion, is done so to highlight how crucial it is for everyone to support needy moms rather than to depict the gendered nature of poverty. In any case, I am so delighted you asked this topic since there are many factors that need to be taken into account and examined.
ECO 361
EKECHUKWU IFEANYI PAUL
2019227249
ECONOMICS EDUCATION
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist ->>>
China and India, as two of the largest countries in the world and with vastly different political and economic systems, have played a significant role in shaping the political and economic structure of the Third World. Both nations have been influential in promoting the emergence of Third World countries and in changing the relationship between these countries and the industrialized nations of the world. China, with its Communist government and planned economy, has been a strong advocate for Third World countries and has provided economic and military support to many of these nations. India, with its democratic government and mixed economy, has also been a significant player in the Third World, promoting economic development and democracy in these countries. Both nations have played a role in shaping the relationship between the Third World and the industrialized nations, capitalist and Communist.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.-:-
In addition to Gross National Income (GNI) per capita, other indicators commonly used to measure development include;
A.) Human Development Index (HDI)
B.) The Multidimensional Poverty Index (MPI
These indicators take into recognition some factors such as life expectancy, education, and standard of living, in addition to economic indicators like GDP and GNI. The United Nations, World Bank, and other international organizations use these indicators to classify countries as “developed,” “developing,” or “least developed” and to monitor progress towards sustainable development goals.
3. The common characteristics of developing countries include;
a.) Low level of living:- In a developing country the level of living is being classified as low and the cost of living is usually high. The most average persons find it difficult to get the basic amenities for living, like clothing, shelter, food e.t.c.
b.) Dependence on agricultural production and primary products exports:- Most developing countries focus majorly on the production of agricultural and primary product instead of moving to industrialization and industrial goods. This makes them dependant on countries for other facilities, instruments, tools and amenities apart from food.
c.) Traditional / Rural social structures:- You would notice in all developing countries a distinction between the urban areas and rural areas (villages). In developing countries there is presence of rural or traditional social structures around and less modern structures.
d.) High level of insecurity:- Insecurity and terrorism is rampart in most developing countries as they don’t have enough resources to invest in highly sophisticated military system.
e.) High and rising level of unemployment and underemployment:- Developing countries are characterised by a massive number of people who are unemployed or underemployed. There’s no system put in place to help the masses to be gainfully employed.
4. Yes, I agree to the argument that poverty has the face of a woman.
Why..
The statement “poverty has the face of a woman” depicts that women are unequally affected by poverty. This is supported by data which shows that women often have fewer economic opportunities and face greater barriers to financial stability than men.
One reason is that women that works are more likely to be paid low or lower than men for the same work.
Additionally, women face the primary responsibility of taking care for children and other dependants, which can make it more difficult for them to be employed easily or advance their in career.
Another reason is the gender inequalities that exists in many societies, which can limit women’s access to education, employment, and other opportunities that are necessary for escaping poverty.
woke chidera Lillian
2019/245394
Economic
Development Economic
1:china and India have played a major role in promoting conference and the gab between third world capitalist, industrial, communists by combining low income and low wages with innovation potential, they also associated with very different form of regional integration, china and India is part of the distributed regional network of production, reflecting wider competitiveness both china and india are heavily engaged in global institutions
2:low
Lower middle eg Nigeria
Upper middle
High income countries
Classification of this above are updated every year on July and are based on the GHP PER CAPITAL of the previous year GNP are expressed in United states dollars
3;low level of living
Low level of productivity
Dependence and VULNERABILITY
Primary products exploit
Substantial dependence on Agriculture production
A:low level of LIVING, developing country has low level of LIVING because their economy is yet to develop, people has to live from hand to mouth
B:dependence and VULNERABILITY: in this situation underdeveloped countries depend on the other countries resources to live and some of the products produced by the country can be harmful to them ,when they can’t produce in their own country.
C:Develoing country depend ont the Agriculture for their survival.
Yes poverty has the face of the woman, According to the research of the United nations that out of the million of people suffering from poverty wemon are up to 70% that woman constitute half the world production, performe teo third of the its works RECEIVE one tenth of the world’s income and own less than one hundred, they are also suffered malnutrition and lack adequate education.
School: University of Nigeria Nsukka
Department: Social science education (Education/Economics)
Name: Diugwu Salvation Nmesoma
Reg. No: 2019/242289
Lecturer: Dr. Tony Orji
Email address: salvationnmesoma65@gmail.com
(1.) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist discuss
Political ascent of other emerging nations, commonly referred to as the “third world,” has been significantly influenced by China and India, two of the greatest developing nations in the globe. Both countries have unique social and economic systems, which have shaped how they see foreign relations and their place in the world.
China has long been seen as a socialist and growing country leader due to its communist regime. In addition to advocating for a more fair allocation of resources and power in the international system, it has given aid and support to other nations in the Global South. China’s recent economic growth has also made it a significant player in the global economy, which has resulted in closer economic relations with other developing nations.
India, with its democratic and economic system, has contributed significantly to the rise of third-world nations in terms of politics. It has a history of representing the rights and interests of developing nations at international fora, as well as taking the lead in the Non-Aligned Movement, which encourages collaboration and solidarity among developing nations. India’s recent rapid economic development has made it a prominent role in the world economy and strengthened its links with other emerging nations.
Overall, China and India have both had a significant impact on the political rise of developing nations and the evolution of their ties with industrialized, capitalist, and communist nations.
(2). Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. discuss
Traditionally, developing nations are classified based on their annual Gross National Income (GNI) per capita. Based on their GNI per capita, the World Bank divides nations into low-income, lower-middle-income, upper-middle-income, and high-income categories. Lower-middle-income nations have a GNI per capita between $1,026 and $4,035; upper-middle-income nations have a GNI per capita between $4,036 and $12,475; and high-income nations have a GNI per capita of $12,476 or more. This categorization is used to assess a nation’s economic progress and to spot those who might need more help if they want to attain sustainable development.
However, Different standards and indicators for measuring progress and underdevelopment have been created by the United Nations, World Bank, and other Bretton Woods organizations. These include metrics like the Multidimensional Poverty Index (MPI), the Human Development Index (HDI), and the Gender Development Index (GDI) (MPI).
The value of all products and services generated in a nation is measured by its GDP. The HDI combines indices for standard of living, health, and education to give a measurement of a nation’s total human development. Gender-based disparities in these same domains are measured by GDI. To quantify poverty in a comprehensive manner, MPI takes into consideration a number of variables, such as health, education, and living conditions.
1. Gross Domestic Product (GDP) per capita: This statistic gauges a nation’s economic success on an individual level. A greater standard of life is typically associated with a higher GDP per capita.
2. The Human Development Index (HDI) is a composite metric that considers variables including income, education, and life expectancy. High HDI nations are seen as being more developed.
3. The poverty rate is a measurement of the proportion of a nation’s population that is living in poverty. High rates of poverty are indicative of less developed nations.
4. Gender Development Index (GDI): The gender-based disparities in human development are measured by the Gender Development Index (GDI). Gender inequality is believed to be worse in nations with low GDI.
5. Multidimensional Poverty Index (MPI):The Multidimensional Poverty Index (MPI) measures poverty by taking into account a number of factors, such as living conditions, health, and education. High MPI nations are thought to have greater levels of poverty.
Indicators for particular areas like income inequality, access to clean water, and access to power are available in addition to these metrics. These metrics are used to evaluate a nation’s progress in reaching the 17 Sustainable Development Goals (SDGs) of the United Nations, which include eradicating poverty, safeguarding the environment, and ensuring that all people live in peace and prosperity.
Overall, because they give a complete view of a nation’s economic, social, and environmental well-being, these criteria and indicators are crucial instruments for gauging progress and underdevelopment.
(3.) Clearly discuss and analyse the Common Characteristics of Developing Nations.
1. Low per capita income: When compared to rich countries, developing countries often have lower average income levels. As a result, there are high rates of poverty and insufficient funds for social services including healthcare, education, and welfare. When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty.
2. Agriculture-based economies: Agriculture is a major source of revenue and employment in many developing countries. They may become more susceptible as a result of variations in agricultural prices and climate change. In developing countries, especially in rural regions, the majority of people work in agriculture. In some countries, agriculture is the only industry that provides work and revenue. Additionally, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly.
3. Lack of infrastructure: Developing countries frequently lack basic infrastructure, including insufficient electricity, transportation, and communication networks. This may hinder economic expansion and make it challenging for companies to function. In developing countries, infrastructure is not properly developed, including the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Additionally, constructed infrastructure is poorly managed and not allocated in an effective and equitable manner. This has put these countries’ ability to develop at risk.
4. High degrees of corruption: High levels of corruption are common in developing countries, which can slow economic growth and deter foreign investment.
5. Dependence on Foreign Aid: Developing countries depend heavily on aid from other countries to survive and develop, which leaves them open to the political and economic whims of donors.
6. High poverty rate: The percentage of the population in developing nations that lives in poverty is known as the high poverty rate. Access to fundamental services like healthcare, education, and other necessities is frequently to blame for this. The majority of people in developing countries have been affected by the issue of poverty. Even their most basic requirements cannot be met. The issue of poverty is also reflected in the low per capita in emerging countries. So, in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access.
7. Low life expectancy: Developing nations have low life expectancies, which are frequently caused by poor living circumstances and a lack of access to healthcare.
8. High rate of illiteracy: The percentage of the population who are unable to read or write is high in developing nations. Lack of access to education is frequently to blame for this.
9. Environmental deterioration: Developing countries frequently experience high levels of environmental deterioration, which can be brought on by excessive exploitation of natural resources and a lack of environmental laws.
10. The productivity of factors is similarly poor in undeveloped countries. This is a result of a lack of funding and administrative expertise needed to acquire breakthrough technology and policies and manage them successfully. Lower productivity in developing countries is ascribed to a variety of causes, including malnutrition, inadequate access to healthcare, a strong social support network, living in an unsanitary environment, employees’ bad health and stressful work environments, etc.
11. High Consumption and Low Saving: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help.
(4.) It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
The term “feminization of poverty” refers to the phenomena where women make up a disproportionately large fraction of the world’s impoverished. This tendency is a result of both a lack of income and possibilities because of established gender norms and gender prejudice in some communities. Due to the idea that women should be in charge of childrearing and parenting, gender prejudices sometimes deny women the chance to pursue education or jobs on their own. The rise in the number of lone mother homes is tied to the growing proportion of women living in poverty.
The argument that poverty has the face of a woman is true. This is due to a variety of factors such as discrimination in the workforce, lack of access to education and resources, and societal expectations and norms that limit women’s opportunities. Additionally, women often bear the primary responsibility for caring for children and elderly family members, which can make it difficult for them to work and earn a stable income. As a result, women are more likely to live in poverty and have less financial security than men.
Although poor income is the main factor contributing to female poverty, there are other interconnected causes of this issue. Women’s access to basic necessities like food and shelter as well as their potential for progress are restricted by a lack of cash.Women’s lifelong earning potential is decreased since they lack access to healthcare and basic education due to their disproportionately lower income than males. Motherhood’s obligations place further restrictions on women’s economic advancement. The homes most at danger of poverty are those headed by lone mothers or without a guardian or second parent. The likelihood of poverty is highest in female-headed families (when no male is present) since there are fewer family income providers. Lone mother families are related to concerns of gender inequality since women are more prone to poverty and lack basic necessities than males.
Women who live in poverty have less access to healthcare resources and services. Women suffer from poor health outcomes disproportionately, in part because of the cost of childbirth. Poor health made it harder for women to make a living, which is a major contributor to the growth and maintenance of family poverty. Therefore, expanding health care to women might reduce how feminized poverty is. Greater chances for women to escape poverty and advance in society can be created through educating women and children, especially girls. Women’s access to fundamental education is restricted in nations with severe gender discrimination and social hierarchy. Even within the family, females’ education is sometimes neglected so that their brothers can go to school.
Women throughout the world have few employment options. Due to their uneven access to lucrative and satisfying employment options, women are frequently unable to materially manage their surroundings. There are official and informal vocations in the workforce. Government regulation governs formal employment, and employees are guaranteed a pay and specific rights. In tiny, unregistered businesses, there is informal employment. Since so many women work in unorganized settings, there is less control over how they are employed. Women find it more challenging to handle workplace complaints and guarantee safe and legal working conditions as a result.
School: University of Nigeria Nsukka
Department: Social science education (Education/Economics)
Course: Development Economics I (Eco 361)
Name: Diugwu Salvation Nmesoma
Reg. No: 2019/242289
Lecturer: Dr. Tony Orji
Email address: salvationnmesoma65@gmail.com
(1.) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist discuss
Political ascent of other emerging nations, commonly referred to as the “third world,” has been significantly influenced by China and India, two of the greatest developing nations in the globe. Both countries have unique social and economic systems, which have shaped how they see foreign relations and their place in the world.
China has long been seen as a socialist and growing country leader due to its communist regime. In addition to advocating for a more fair allocation of resources and power in the international system, it has given aid and support to other nations in the Global South. China’s recent economic growth has also made it a significant player in the global economy, which has resulted in closer economic relations with other developing nations.
India, with its democratic and economic system, has contributed significantly to the rise of third-world nations in terms of politics. It has a history of representing the rights and interests of developing nations at international fora, as well as taking the lead in the Non-Aligned Movement, which encourages collaboration and solidarity among developing nations. India’s recent rapid economic development has made it a prominent role in the world economy and strengthened its links with other emerging nations.
Overall, China and India have both had a significant impact on the political rise of developing nations and the evolution of their ties with industrialized, capitalist, and communist nations.
(2). Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. discuss
Traditionally, developing nations are classified based on their annual Gross National Income (GNI) per capita. Based on their GNI per capita, the World Bank divides nations into low-income, lower-middle-income, upper-middle-income, and high-income categories. Lower-middle-income nations have a GNI per capita between $1,026 and $4,035; upper-middle-income nations have a GNI per capita between $4,036 and $12,475; and high-income nations have a GNI per capita of $12,476 or more. This categorization is used to assess a nation’s economic progress and to spot those who might need more help if they want to attain sustainable development.
However, Different standards and indicators for measuring progress and underdevelopment have been created by the United Nations, World Bank, and other Bretton Woods organizations. These include metrics like the Multidimensional Poverty Index (MPI), the Human Development Index (HDI), and the Gender Development Index (GDI) (MPI).
The value of all products and services generated in a nation is measured by its GDP. The HDI combines indices for standard of living, health, and education to give a measurement of a nation’s total human development. Gender-based disparities in these same domains are measured by GDI. To quantify poverty in a comprehensive manner, MPI takes into consideration a number of variables, such as health, education, and living conditions.
1. GROSS DOMESTIC PRODUCT (GDP) PER CAPITA: This statistic gauges a nation’s economic success on an individual level. A greater standard of life is typically associated with a higher GDP per capita.
2. THE HUMAN DEVELOPMENT INDEX (HDI) is a composite metric that considers variables including income, education, and life expectancy. High HDI nations are seen as being more developed.
3. THE POVERTY RATE is a measurement of the proportion of a nation’s population that is living in poverty. High rates of poverty are indicative of less developed nations.
4. GENDER DEVELOPMENT INDEX (GDI): The gender-based disparities in human development are measured by the Gender Development Index (GDI). Gender inequality is believed to be worse in nations with low GDI.
5. MULTIDIMENSIONAL POVERTY INDEX (MPI):The Multidimensional Poverty Index (MPI) measures poverty by taking into account a number of factors, such as living conditions, health, and education. High MPI nations are thought to have greater levels of poverty.
Indicators for particular areas like income inequality, access to clean water, and access to power are available in addition to these metrics. These metrics are used to evaluate a nation’s progress in reaching the 17 Sustainable Development Goals (SDGs) of the United Nations, which include eradicating poverty, safeguarding the environment, and ensuring that all people live in peace and prosperity.
Overall, because they give a complete view of a nation’s economic, social, and environmental well-being, these criteria and indicators are crucial instruments for gauging progress and underdevelopment.
(3.) Clearly discuss and analyse the Common Characteristics of Developing Nations.
1. LOW PER CAPITA INCOME: When compared to rich countries, developing countries often have lower average income levels. As a result, there are high rates of poverty and insufficient funds for social services including healthcare, education, and welfare. When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty.
2. AGRICULTURE-BASED ECONOMIES: Agriculture is a major source of revenue and employment in many developing countries. They may become more susceptible as a result of variations in agricultural prices and climate change. In developing countries, especially in rural regions, the majority of people work in agriculture. In some countries, agriculture is the only industry that provides work and revenue. Additionally, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly.
3. LACK OF INFRASTRUCTURE: Developing countries frequently lack basic infrastructure, including insufficient electricity, transportation, and communication networks. This may hinder economic expansion and make it challenging for companies to function. In developing countries, infrastructure is not properly developed, including the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Additionally, constructed infrastructure is poorly managed and not allocated in an effective and equitable manner. This has put these countries’ ability to develop at risk.
4. HIGH DEGREES OF CORRUPTION: High levels of corruption are common in developing countries, which can slow economic growth and deter foreign investment.
5. DEPENDENCE ON FOREIGN AID: Developing countries depend heavily on aid from other countries to survive and develop, which leaves them open to the political and economic whims of donors.
6. HIGH POVERTY RATE: The percentage of the population in developing nations that lives in poverty is known as the high poverty rate. Access to fundamental services like healthcare, education, and other necessities is frequently to blame for this. The majority of people in developing countries have been affected by the issue of poverty. Even their most basic requirements cannot be met. The issue of poverty is also reflected in the low per capita in emerging countries. So, in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access.
7. LOW LIFE EXPECTANCY: Developing nations have low life expectancies, which are frequently caused by poor living circumstances and a lack of access to healthcare.
8. HIGH RATE OF ILLITERACY: The percentage of the population who are unable to read or write is high in developing nations. Lack of access to education is frequently to blame for this.
9. ENVIRONMENTAL DETERIORATION: Developing countries frequently experience high levels of environmental deterioration, which can be brought on by excessive exploitation of natural resources and a lack of environmental laws.
10. The productivity of factors is similarly poor in undeveloped countries. This is a result of a lack of funding and administrative expertise needed to acquire breakthrough technology and policies and manage them successfully. Lower productivity in developing countries is ascribed to a variety of causes, including malnutrition, inadequate access to healthcare, a strong social support network, living in an unsanitary environment, employees’ bad health and stressful work environments, etc.
11. HIGH CONSUMPTION AND LOW SAVING: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help.
(4.) It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
The term “feminization of poverty” refers to the phenomena where women make up a disproportionately large fraction of the world’s impoverished. This tendency is a result of both a lack of income and possibilities because of established gender norms and gender prejudice in some communities. Due to the idea that women should be in charge of childrearing and parenting, gender prejudices sometimes deny women the chance to pursue education or jobs on their own. The rise in the number of lone mother homes is tied to the growing proportion of women living in poverty.
The argument that poverty has the face of a woman is true. This is due to a variety of factors such as discrimination in the workforce, lack of access to education and resources, and societal expectations and norms that limit women’s opportunities. Additionally, women often bear the primary responsibility for caring for children and elderly family members, which can make it difficult for them to work and earn a stable income. As a result, women are more likely to live in poverty and have less financial security than men.
Although poor income is the main factor contributing to female poverty, there are other interconnected causes of this issue. Women’s access to basic necessities like food and shelter as well as their potential for progress are restricted by a lack of cash.Women’s lifelong earning potential is decreased since they lack access to healthcare and basic education due to their disproportionately lower income than males. Motherhood’s obligations place further restrictions on women’s economic advancement. The homes most at danger of poverty are those headed by lone mothers or without a guardian or second parent. The likelihood of poverty is highest in female-headed families (when no male is present) since there are fewer family income providers. Lone mother families are related to concerns of gender inequality since women are more prone to poverty and lack basic necessities than males.
Women who live in poverty have less access to healthcare resources and services. Women suffer from poor health outcomes disproportionately, in part because of the cost of childbirth. Poor health made it harder for women to make a living, which is a major contributor to the growth and maintenance of family poverty. Therefore, expanding health care to women might reduce how feminized poverty is. Greater chances for women to escape poverty and advance in society can be created through educating women and children, especially girls. Women’s access to fundamental education is restricted in nations with severe gender discrimination and social hierarchy. Even within the family, females’ education is sometimes neglected so that their brothers can go to school.
Women throughout the world have few employment options. Due to their uneven access to lucrative and satisfying employment options, women are frequently unable to materially manage their surroundings. There are official and informal vocations in the workforce. Government regulation governs formal employment, and employees are guaranteed a pay and specific rights. In tiny, unregistered businesses, there is informal employment. Since so many women work in unorganized settings, there is less control over how they are employed. Women find it more challenging to handle workplace complaints and guarantee safe and legal working conditions as a result.
School: University of Nigeria Nsukka
Department: Social science education (Education/Economics)
Course: Development Economics I (Eco 361)
Name: Diugwu Salvation Nmesoma
Reg. No: 2019/242289
Lecturer: Dr. Tony Orji
Email address: salvationnmesoma65@gmail.com
(1.) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist discuss
Political ascent of other emerging nations, commonly referred to as the “third world,” has been significantly influenced by China and India, two of the greatest developing nations in the globe. Both countries have unique social and economic systems, which have shaped how they see foreign relations and their place in the world.
China has long been seen as a socialist and growing country leader due to its communist regime. In addition to advocating for a more fair allocation of resources and power in the international system, it has given aid and support to other nations in the Global South. China’s recent economic growth has also made it a significant player in the global economy, which has resulted in closer economic relations with other developing nations.
India, with its democratic and economic system, has contributed significantly to the rise of third-world nations in terms of politics. It has a history of representing the rights and interests of developing nations at international fora, as well as taking the lead in the Non-Aligned Movement, which encourages collaboration and solidarity among developing nations. India’s recent rapid economic development has made it a prominent role in the world economy and strengthened its links with other emerging nations.
Overall, China and India have both had a significant impact on the political rise of developing nations and the evolution of their ties with industrialized, capitalist, and communist nations.
(2). Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. discuss
Traditionally, developing nations are classified based on their annual Gross National Income (GNI) per capita. Based on their GNI per capita, the World Bank divides nations into low-income, lower-middle-income, upper-middle-income, and high-income categories. Lower-middle-income nations have a GNI per capita between $1,026 and $4,035; upper-middle-income nations have a GNI per capita between $4,036 and $12,475; and high-income nations have a GNI per capita of $12,476 or more. This categorization is used to assess a nation’s economic progress and to spot those who might need more help if they want to attain sustainable development.
However, Different standards and indicators for measuring progress and underdevelopment have been created by the United Nations, World Bank, and other Bretton Woods organizations. These include metrics like the Multidimensional Poverty Index (MPI), the Human Development Index (HDI), and the Gender Development Index (GDI) (MPI).
The value of all products and services generated in a nation is measured by its GDP. The HDI combines indices for standard of living, health, and education to give a measurement of a nation’s total human development. Gender-based disparities in these same domains are measured by GDI. To quantify poverty in a comprehensive manner, MPI takes into consideration a number of variables, such as health, education, and living conditions.
1. GROSS DOMESTIC PRODUCT (GDP) PER CAPITA: This statistic gauges a nation’s economic success on an individual level. A greater standard of life is typically associated with a higher GDP per capita.
2. THE HUMAN DEVELOPMENT INDEX (HDI) is a composite metric that considers variables including income, education, and life expectancy. High HDI nations are seen as being more developed.
3. THE POVERTY RATE is a measurement of the proportion of a nation’s population that is living in poverty. High rates of poverty are indicative of less developed nations.
4. GENDER DEVELOPMENT INDEX (GDI): The gender-based disparities in human development are measured by the Gender Development Index (GDI). Gender inequality is believed to be worse in nations with low GDI.
5. MULTIDIMENSIONAL POVERTY INDEX (MPI):The Multidimensional Poverty Index (MPI) measures poverty by taking into account a number of factors, such as living conditions, health, and education. High MPI nations are thought to have greater levels of poverty.
Indicators for particular areas like income inequality, access to clean water, and access to power are available in addition to these metrics. These metrics are used to evaluate a nation’s progress in reaching the 17 Sustainable Development Goals (SDGs) of the United Nations, which include eradicating poverty, safeguarding the environment, and ensuring that all people live in peace and prosperity.
Overall, because they give a complete view of a nation’s economic, social, and environmental well-being, these criteria and indicators are crucial instruments for gauging progress and underdevelopment.
(3.) Clearly discuss and analyse the Common Characteristics of Developing Nations.
1. LOW PER CAPITA INCOME: When compared to rich countries, developing countries often have lower average income levels. As a result, there are high rates of poverty and insufficient funds for social services including healthcare, education, and welfare. When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty.
2. AGRICULTURE-BASED ECONOMIES: Agriculture is a major source of revenue and employment in many developing countries. They may become more susceptible as a result of variations in agricultural prices and climate change. In developing countries, especially in rural regions, the majority of people work in agriculture. In some countries, agriculture is the only industry that provides work and revenue. Additionally, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly.
3. LACK OF INFRASTRUCTURE: Developing countries frequently lack basic infrastructure, including insufficient electricity, transportation, and communication networks. This may hinder economic expansion and make it challenging for companies to function. In developing countries, infrastructure is not properly developed, including the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Additionally, constructed infrastructure is poorly managed and not allocated in an effective and equitable manner. This has put these countries’ ability to develop at risk.
4. HIGH DEGREES OF CORRUPTION: High levels of corruption are common in developing countries, which can slow economic growth and deter foreign investment.
5. DEPENDENCE ON FOREIGN AID: Developing countries depend heavily on aid from other countries to survive and develop, which leaves them open to the political and economic whims of donors.
6. HIGH POVERTY RATE: The percentage of the population in developing nations that lives in poverty is known as the high poverty rate. Access to fundamental services like healthcare, education, and other necessities is frequently to blame for this. The majority of people in developing countries have been affected by the issue of poverty. Even their most basic requirements cannot be met. The issue of poverty is also reflected in the low per capita in emerging countries. So, in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access.
7. LOW LIFE EXPECTANCY: Developing nations have low life expectancies, which are frequently caused by poor living circumstances and a lack of access to healthcare.
8. HIGH RATE OF ILLITERACY: The percentage of the population who are unable to read or write is high in developing nations. Lack of access to education is frequently to blame for this.
9. ENVIRONMENTAL DETERIORATION: Developing countries frequently experience high levels of environmental deterioration, which can be brought on by excessive exploitation of natural resources and a lack of environmental laws.
10. The productivity of factors is similarly poor in undeveloped countries. This is a result of a lack of funding and administrative expertise needed to acquire breakthrough technology and policies and manage them successfully. Lower productivity in developing countries is ascribed to a variety of causes, including malnutrition, inadequate access to healthcare, a strong social support network, living in an unsanitary environment, employees’ bad health and stressful work environments, etc.
11. HIGH CONSUMPTION AND LOW SAVING: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help.
(4.) It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
The term “feminization of poverty” refers to the phenomena where women make up a disproportionately large fraction of the world’s impoverished. This tendency is a result of both a lack of income and possibilities because of established gender norms and gender prejudice in some communities. Due to the idea that women should be in charge of childrearing and parenting, gender prejudices sometimes deny women the chance to pursue education or jobs on their own. The rise in the number of lone mother homes is tied to the growing proportion of women living in poverty.
The argument that poverty has the face of a woman is true. This is due to a variety of factors such as discrimination in the workforce, lack of access to education and resources, and societal expectations and norms that limit women’s opportunities. Additionally, women often bear the primary responsibility for caring for children and elderly family members, which can make it difficult for them to work and earn a stable income. As a result, women are more likely to live in poverty and have less financial security than men.
Although poor income is the main factor contributing to female poverty, there are other interconnected causes of this issue. Women’s access to basic necessities like food and shelter as well as their potential for progress are restricted by a lack of cash.Women’s lifelong earning potential is decreased since they lack access to healthcare and basic education due to their disproportionately lower income than males. Motherhood’s obligations place further restrictions on women’s economic advancement. The homes most at danger of poverty are those headed by lone mothers or without a guardian or second parent. The likelihood of poverty is highest in female-headed families (when no male is present) since there are fewer family income providers. Lone mother families are related to concerns of gender inequality since women are more prone to poverty and lack basic necessities than males.
Women who live in poverty have less access to healthcare resources and services. Women suffer from poor health outcomes disproportionately, in part because of the cost of childbirth. Poor health made it harder for women to make a living, which is a major contributor to the growth and maintenance of family poverty. Therefore, expanding health care to women might reduce how feminized poverty is. Greater chances for women to escape poverty and advance in society can be created through educating women and children, especially girls. Women’s access to fundamental education is restricted in nations with severe gender discrimination and social hierarchy. Even within the family, females’ education is sometimes neglected so that their brothers can go to school.
Women throughout the world have few employment options. Due to their uneven access to lucrative and satisfying employment options, women are frequently unable to materially manage their surroundings. There are official and informal vocations in the workforce. Government regulation governs formal employment, and employees are guaranteed a pay and specific rights. In tiny, unregistered businesses, there is informal employment. Since so many women work in unorganized settings, there is less control over how they are employed. Women find it more challenging to handle workplace complaints and guarantee safe and legal working conditions as a result.
Name: Oguzie Echezonachukwu Sixtus
Registration Number: 2019/249165
Department: Economics
Eco 361
Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. China and India have been among the fastest growing economies in the world. Since 1995, average income in China has increased almost tenfold, while in India it has nearly quadrupled. Despite very different political and economic systems, both countries have lifted millions from poverty, while income inequality and environmental degradation have worsened. Given the scale of these changes, the emergence of India and China has had profound implications for the rest of the world. But China and India have pursued very different development paths. China’s economic model has focused on gearing its manufacturing industries toward exports for the rest of the world. India has also become increasingly integrated with the rest of the world, though under its model, domestic demand and services have played a more important role. As this process has played out, China has become the workshop of the world. India’s growth has been less spectacular, but in many industries, from petrochemicals to software, India has achieved success on the global stage. Chinese goods—from T-shirts and air conditioners to iPod components and furniture—are for sale in almost every country on the planet.
Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. UN’s Human Poverty Index (HPI) – measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under age 5. UN’s Human Development Index (HDI) – measures a country’s average achievements in three basic dimensions of human development: life expectancy, educational attainment and adjusted real income ($PPP per person).
Clearly discuss and analyse the Common Characteristics of Developing Nations. a) Low real per capita income: When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty. One of the biggest issues that undeveloped nations deal with is this. b) Unemployment and underemployment: A Problem: Other significant issues and prevalent traits of emerging or undeveloped countries include unemployment and underemployment. The issue of underemployment and unemployment in emerging nations is brought on by factors such as an overreliance on agriculture, a lack of industrialization, an improper use of natural resources, a lack of workforce planning, and others. Underemployment is a more significant issue than unemployment in developing countries. c) Consumption is high and saving is low: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help.
It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you don’t? Yes I agree. Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship. Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more than men. The effects of sexism and racism on institutional structures and across society limit the employment opportunities available to women, availability of caregiving supports, access to public social assistance programs, and more, leading to higher rates of poverty among women, particularly women of color, compared with men. Unmarried mothers have higher rates of poverty than married women, with or without children, and unmarried women without children. Almost one-quarter of unmarried mothers live below the poverty line. In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty.
ASSIGNMENT
Economics 361 Development Economics
Name: Chukwunweike Nnamdi Lucky
Reg no: 2019/247233
Department: CSS ECONOMICS/ sociology
Question no 1:
Capitalism is an economic system in which businesses and industries that produce the goods and services for the purpose of profit are regulated by the private holders for profit rather than the state.
Capitalism, also known as a capitalist economy, in India implies that it is an economic system in which private businesses control and govern the factors of production such as capital goods, labour, natural resources, and entrepreneurship. The production of all goods and services in a capitalist economy is reliant on the market’s demand and supply. It is different from the main planning system, also known as an authority or planned economy. Capitalism in India has the most important role to play.
• Private ownership
• Forces of market
• Profit is the main motive for production
The socialist market economy (SME) is the economic system and model of economic development employed in the People’s Republic of China. The system is a market economy with the predominance of public ownership and state-owned enterprises.[1] The term “socialist market economy” was introduced by Jiang Zemin during the 14th National Congress of the Chinese Communist Party (CCP) in 1992 to describe the goal of China’s economic reforms.
Question no 2:
The HUMAN DEVELOPMENT INDEX (HDI) is another way to measure a country development and under development.
The Human Development Index (HDI) is a statistic composite index of life expectancy, education (mean years of schooling completed and expected years of schooling upon entering the education system), and per capita income indicators, which is used to rank countries into four tiers of human development. A country scores a higher level of HDI when the lifespan is higher, the education level is higher, and the gross national income GNI (PPP) per capita is higher. It was developed by Pakistani economist Mahbub ul Haq and was further used to measure a country’s development by the United Nations Development Program (UNDP)’s Human Development Report Office.
Question no 3
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Question no 4
Gender discriminatory practices shape poverty: as expected, more women are at the suffering end. They suffer poverty of opportunities far more than men. Poverty gives rise to social powerlessness and political disenfranchisement, and these add to the vulnerability of the poor.
To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition. Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities
Answers:
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.
2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.
3.
Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
1.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
2.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
3..Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
4.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
5.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
6.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.
These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.
4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment.
Overall, I agree that poverty has the face of a woman, as the data and research clearly indicate that women are disproportionately affected by poverty and face unique challenges in breaking out of it
Name: Ogbodo Emmanuel Chukwuemeka
Reg no: 2019/246458
Dept: Economics
Course number: Eco 361
chukwuemekaemma2019@gmail.com
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading/forefront advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.
2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach/way to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.
3.Clearly discuss the common characteristics of developing nations
Developing nations, also referred to as less developed or emerging economies, share several common properties. Some of these include:
Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
Inadequate infrastructure/Social amenities: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.
High population growth: Developing nations tend to have higher population growth rates, which can put a strain on resources and limit economic growth.
Lack of access to education and healthcare: Developing nations often have lower levels of access to education and healthcare, which can limit the potential for economic development and improvement in the quality of life.
These are some of the common characteristics of developing nations, however, it is important to note that every country is perculiar and there are variations among developing nations.
4.I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.
Additionally, women are also more likely to live in poverty in older age due to the lack of social security and pension schemes that cover for women.
Overall, I agree that poverty has the face of a woman, as the data and research clearly indicate that women are disproportionately affected by poverty and face unique challenges in breaking out of it
3.
Lower Levels of Human Capital ; Human capital—health, education, and skills—is vital to economic growth and human development. We have already noted the great disparities in human capital around the world while discussing the Human Development Index. Compared with developed countries, much of the developing world has lagged in its average levels of nutrition, health (as measured, for example, by life expectancy or undernourishment), and education (measured by literacy). The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
Higher Population Growth Rates: Global population has skyrocketed since the beginning of the industrial era, from just under 1 billion in 1800 to 1.65 billion in 1900 and to over 6 billion by 2000. The United Nations estimates that the “day of 7 billion” will occur in late 2011 or early 2012. Rapid population growth began in Europe and other now developed countries. But in recent decades, most population growth has been centered in the developing world. Compared with the developed countries, which often have birth rates near or even below replacement (zero population growth) levels, the low-income developing countries have very high birth rates. More than fivesixths of all the people in the world now live in developing countries. One important consequence of this rapid rate of population growth is that it throws more and more people on land and into informal sector to eke out their living from agriculture, since alternative occupations do not simultaneously develop and thus are not there to absorb the increasing numbers seeking gainful employment. The resultant pressure of population on land and in informal sector thus gives rise to what has been called “disguised unemployment”.
Underutilization of Natural Resources: The natural resources in an underdeveloped economy are either unutilised or underutilised. Generally speaking, under-developed countries are not deficient in land, water, mineral, forest or power resources, though they may be untapped. In other words, they constitute only potential resources. The main problem in their case is that such resources have not been fully and properly utilised due to various difficulties such as shortage of capital, primitive technology and the small size of the market.
Higher Levels of Inequality and Absolute Poverty: Massive Poverty: The majority of people in developing countries have been affected by the issue of poverty. Even the most fundamental demands cannot be met by them. The issue of poverty is also reflected in the low per capita in emerging countries. So, in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access. Globally, the poorest 20% of people receive just 1.5% of world income. The lowest 20% now roughly corresponds to the approximately 1.4 billion people living in extreme poverty on less than $1.25 per day at purchasing power parity.19 Bringing the incomes of those living on less than $1.25 per day up to this minimal poverty line would require less than 2% of the incomes of the world’s wealthiest 10%.20 Thus the scale of global inequality is immense. But the enormous gap in per capita incomes between rich and poor nations is not the only manifestation of the huge global economic disparities. To appreciate the breadth and depth of deprivation in developing countries, it is also necessary to look at the gap between rich and poor within individual developing countries. Very high levels of inequality—extremes in the relative incomes of higher- and lower-income citizens—are found in many middleincome countries, partly because Latin American countries historically tend to be both middle-income and highly unequal. Several African countries, including Sierra Leone, Lesotho, and South Africa, also have among the highest levels of inequality in the world.21 Inequality is particularly high in many resource-rich developing countries, notably in the Middle East and sub-Saharan Africa. Indeed, in many of these cases, inequality is substantially higher than in most developed countries (where inequality has in many cases been rising). But inequality varies greatly among developing countries, with generally much lower inequality in Asia.
4.
Yes, I agree”Poverty has a female face and the global economic downturn will have a significant impact on women as more of them lose jobs and are forced to manage shrinking household incomes,” This was what Ezekwesili said May 8 at the “Women and the Changing Global Outlook” conference organized by the British Embassy in Washington, and the National Geographic Society.
“The face of poverty is female,” she said, sketching the portrait of the typical poor African youth “She is 18.5 years old. She lives in a rural area. She has dropped out of school. She is single, but is about to be married or be given in marriage to a man approximately twice her age. She will be the mother of six or seven kids in another 20 years,” said Ezekwesili, citing the findings of the latest edition of the annual World Bank publication, Africa Development Indicators (ADI).
Name: Chukwubuikem Chinaza Joy
Reg. Number: 2019/242315
Department: library and information science
3. a. Low per Capita income:
b. Low standard of living:
c. High population rate
d. Technological backwardness
4. Yes, poverty has the face of a woman. Women make up a substantial majority of the world’s poor. If we compared
the lives of the inhabitants of the poorest communities throughout the developing world, we would discover that virtually everywhere, women and children experience the harshest deprivation. They are more likely to be poor and
malnourished and less likely to receive medical services, clean water, sanitation, and other benefits.The prevalence of female-headed households, the
lower earning capacity of women, and their limited control over their spouses’
income all contribute to this disturbing phenomenon. In addition, women
have less access to education, formal-sector employment, social security, and
government employment programs. These facts combine to ensure that poor
women’s financial resources are meager and unstable relative to men’s.
Reg. Number: 2019/242315
Department: library and information science
3. a. Low per Capita income:
b. Low standard of living:
c. High population rate
d. Technological backwardness
4. Yes, poverty has the face of a woman. Women make up a substantial majority of the world’s poor. If we compared
the lives of the inhabitants of the poorest communities throughout the developing world, we would discover that virtually everywhere, women and children experience the harshest deprivation. They are more likely to be poor and
malnourished and less likely to receive medical services, clean water, sanitation, and other benefits.The prevalence of female-headed households, the
lower earning capacity of women, and their limited control over their spouses’
income all contribute to this disturbing phenomenon. In addition, women
have less access to education, formal-sector employment, social security, and
government employment programs. These facts combine to ensure that poor
women’s financial resources are meager and unstable relative to men’s.
Answers:
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.
2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.
3.
Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
1.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
2.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
3..Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
4.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
5.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
6.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.
7.High population growth: Developing nations tend to have higher population growth rates, which can put a strain on resources and limit economic growth.
These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.
4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment.
Overall, I agree that poverty has the face of a woman, as the data and research clearly indicate that women are disproportionately affected by poverty and face unique challenges in breaking out of it
1.)The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.
2.
The United Nations uses a metric called the Human Development Index (HDI) to determine whether a country is fully developed or still developing. The HDI considers a broad range of factors, including economic growth, life expectancy, health, education, and quality of life. The highest possible HDI score is a 1.0, and any country that scores less than .80 is considered developing. Of the 191 countries analyzed in the 2021/22 Human Development Report, 125 scored below .80 and were considered developing
3..
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
4.”Poverty has a woman’s face. Extreme poverty perpetuates a cycle of violence and discrimination against women and girls, and gender based inequality and violence keeps millions of women and girls in poverty and social exclusion. In many parts of the world, women and girls are denied equal opportunity in every aspect of life. Conversely, women are strong contributors to the economy, and can do much more if they are given equal resources. For instance, if women farmers have the same access as men to agricultural resources, we could potentially reduce the number of hungry people in the world by 100 to 150 million people!”
See more at https://english.pravda.ru/history/122505-poverty_woman/
1.)The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.
2.
The United Nations uses a metric called the Human Development Index (HDI) to determine whether a country is fully developed or still developing. The HDI considers a broad range of factors, including economic growth, life expectancy, health, education, and quality of life. The highest possible HDI score is a 1.0, and any country that scores less than .80 is considered developing. Of the 191 countries analyzed in the 2021/22 Human Development Report, 125 scored below .80 and were considered developing
3.Some developing countries have weak institutional structure such as lack of property rights, absence of the rule of law and political instability which affect incentives to invest. Besides, there are lot of differences with regard to levels of education, health, food production and availability of natural resources. However, despite this great diversity there are many common features of the developing economies. It is because of common characteristics that their developmental problems are studied within a common analytical framework of development economics.
4.”Poverty has a woman’s face. Extreme poverty perpetuates a cycle of violence and discrimination against women and girls, and gender based inequality and violence keeps millions of women and girls in poverty and social exclusion. In many parts of the world, women and girls are denied equal opportunity in every aspect of life. Conversely, women are strong contributors to the economy, and can do much more if they are given equal resources. For instance, if women farmers have the same access as men to agricultural resources, we could potentially reduce the number of hungry people in the world by 100 to 150 million people!”
See more at https://english.pravda.ru/history/122505-poverty_woman/
2) Accordingly, countries have been grouped as high-income, upper middle income, lower middle income and low-income
3) Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts
4) YES it’s true because Lack of income deprives women of basic needs, such as food and shelter, and limits their opportunities for advancement. As women disproportionately earn less income than men, they are deprived of basic education and healthcare, which lowers their lifetime earning potential
OMEJE CHRISTOPHER OBINNA
2019/245701
ECONOMICS DEPARTMENT
3 – Common Characteristics of Developing Nations.
– Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save.
-Technological Backwardness: The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated.
-Lack of Infrastructures: Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
– Lower Productivity: In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
4- Almost 25 years ago, a UN Human Development Report claimed that “poverty has a woman’s face”. Gender inequality is a major cause and effect of poverty. An estimated one in three women experience gender-based violence in their lifetime and women are statistically more likely to live in extreme poverty than men. It is simply not right that millions of women are disproportionately affected by poverty, discrimination and violence.
Joseph Prosper Chizundu
2019/247776
Economics
3.
1) Low per capital income: The real per capita income of developing countries as compared to developed countries is low. This means that average income per person of developing nations is little and it is not sufficient to invest or save.
2) Mass poverty: most individuals in developing nations suffer from the problem of poverty. They are not able to fulfill their basic needs.
3) Rapid population: Developing countries have a high population or a rapid population growth. There are several factors behind higher population growth in developing countries, example illiteracy.
4) UNEMPLOYMENT AND UNDER EMPLOYMENT: This is due to the inability of available jobs to be sufficient for the growing population.
4.
Poverty has the face of a woman, yes I agree. Why: I agree that poverty has the face of a woman as women are much more prone to poverty due to social norms which dictate that some jobs cannot be done by women as well as the structural a job or being promoted in her job. Further weathered the storm and climbed to the pinnacles of society but more, women face sexual harassment at work as well as domestic violence and this simply leads to poverty. Few women though, have the fact that these women stand out is a clear indication that they are the exception not the rule, therefore, poverty has the face of a woman.
1. The Bandung conference in 1955 was the beginning of political emergence of the third world. As a result of decolonisation,the United Nations,at first was dominated by the European countries and countries of European origin was transformed into a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent debate.
2. Other indicators for measuring development and underdevelopment includes:
i. The human development index
ii. Life expectancy
iii. Literacy rate
iv. Birth and death rate
v. The general standard of living.
3.i. Low per capita income: The low per capita income of a developing country is very low as compared to the developed countries. This means the average income of per person income of developing countries is little and it is not sufficient to invest or save.
ii. Mass poverty: most citizens of developing countries have been suffering from the problem of poverty They are not able to feel even their basic needs
iii. Rapid population growth: developing countries have either a high population growth or large population size.
iv. Excessive dependency on Agriculture: The majority of the population in developing countries is engaged in the agricultural sector. Most times it is the only sole source of income and employment in such nation.
v. Lack of infrastructure: Infrastructural development like transportation, communication power etc is not well developed in developing countries even the developed infrastructure is also mismanaged and not distributed efficiently and equitably.
4. YES
I agree that ” Poverty has the face of a woman” because woman face the burden of childbearing, child rearing and domestic unpaid labour. By which they are denied the opportunity for growth without access to adequate health care, Education or income and also forced to live in the high bind of culture and traditions. Their vulnerability prevent them from advancing their innate capabilities
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
The concurrent rise of China and India represents a geopolitical event of historic proportions. Rarely has the global system witnessed the reemergence of two major powers simultaneously—states that possess large populations, have ancient and storied histories, abut each other spatially and politically, and dominate the geographic environs within which they are located. Their return to center stage after several centuries of imperial domination thus presages the reincarnation of an earlier era in Asian geopolitics when China and India were among the most important concentrations of political power in the international system since the fall of Rome. The parallel revival of these two nations also dramatically exemplifies Asia’s resurgence in the global system. Although there has been a steady shift in the concentration of capabilities from West to East ever since the end of World War II, this transformation took a decisive turn when the smaller, early-industrializing nations of Asia—Japan, South Korea, Taiwan, and Singapore—were joined by the large, continental-sized states of China and India. The recent renaissance of China and India is owed in large measure to their productive integration into the liberal economic order built and sustained by American hegemony in the postwar period. As a result of that integration, both of these giants have experienced dramatic levels of economic growth in recent decades. China’s economic performance, for example, has been simply meteoric, exceeding even the impressive record set by the first generation of Asian tigers between 1960 and 1990. During the last thirty or so years, China has demonstrated average real growth in excess of 9 percent annually, with growth rates touching 13–14 percent in peak years. As a result, China’s per capita income rose by more than 6 percent every year from 1978 to 2003—much faster than that of any other Asian country, significantly better than the 1.8 percent per year in Western Europe and the United States, and four times as fast as the world average. This feat has made the Chinese economy—in purchasing-power-parity terms—the second largest in the world with a 2010 gross domestic product (GDP) of roughly $10 trillion. Many scholars believe that China will likely overtake the United States in GDP size at some point during the first half of this century. India’s economic performance has not yet matched China’s in either intensity or longevity. New Delhi’s economic reforms, which have produced India’s recent spurt in growth, began only in the early 1990s, over a decade after China’s. To date, these reforms have been neither comprehensive nor complete, and they have been hampered by the contestation inherent in India’s democratic politics, the complexity of the Indian federal system, the lack of elite consensus on critical policy issues, and the persistence of important rent-seeking entities within the national polity.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Here are some of the Indicators for measuring development and underdevelopment
1. GNP per capita: GNP per capita is calculated as GNP divided by population; it is usually expressed in US Dollars. It’s a common indicator used for measuring development, but is imperfect as the calculation doesn’t take into account certain forms of production, such as subsistence production.
2. Birth and death rates: Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.
The Human Development Index (HDI): The HDI is a composite statistic calculated from the:
.Life expectancy index
.Education index
.Mean years of schooling index
.Expected years of schooling index
3. Income index: Countries are ranked based on their score and split into categories that suggest how well developed they are.
.Infant mortality rate: Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.
.Literacy rate: The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
.High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.
.Life expectancy: This simple statistic can be used as an indicator of the:
.healthcare quality in a country or province
.level of sanitation
.provision of care for the elderly
It should not, of course, be used on its own to describe these things.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Characteristics of Developing Countries are:
1. Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
2. Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
3. Rapid Population Growth: Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
4. The Problem of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
5. Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
6. Technological Backwardness: The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
7. Dualistic Economy: Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
8. Lack of Infrastructures: Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
9. Lower Productivity: In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
10. High Consumption and Low Saving: In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Yes poverty has the face of a woman and have seen this in many of our society today. Both men and women have the responsibility to look after the family and ensure the children receive proper education, food, shelter etc. However women are always at the forefront where there is poverty. In many African communities, the responsibility of taking care of the household and caring and nurturing the children, the elderly and the sick falls on the women of the family. As a result, when a child is hungry, they go to the mother or grand mother or the aunt because the child has been made to understand that it is their responsibility to provide food. This is what is called gender inequality. Gender inequality is a major cause and effect of poverty. An estimated one in three women experience gender-based violence in their lifetime and women are statistically more likely to live in extreme poverty than men. It is simply not right that millions of women are disproportionately affected by poverty, discrimination and violence.
Although, poverty affects everyone negatively, women and children stand at the centre of that injustice. Poverty, unless the imbalance is redressed, is handed down with each new generation inheriting the challenges and burdens of an unjust system. Secondly I think the reason why poverty has the face of a woman is because there is more women population in the world than men so when carrying out a research it is easier to sample women.
1.)The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.
2.
Some examples of social indicators of development include:
Education levels – for example how many years of schooling children have.
Health – often measured by life expectancy.
Employment Rates
Gender equality
Peacefulness
Democracy
Corruption
Media freedoms
Civil Rights
Crime/ social unrest
Suicide Rates
Composite indicators of all of the above
3 Characteristics of Developing Countries
Even though there is no clear-cut way to define development, developing countries are consistently united by a body of shared characteristics. These include economic, demographic, political, and cultural factors.
Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
Major Characteristics are:
1) Low Per Capita Real Income
2)Mass Poverty
3)Rapid Population growth
4)Underemployment and Unemployment
5)Low level of Technology etc
4 I agree and that is is because Women are more likely to live in poverty than men, and they need robust, targeted solutions to ensure their long-term economic security. Women experience higher rates of poverty than men. In 2018, 12.9 percent of women lived in poverty compared with 10.6 percent of men.*10 Nearly 10 million women lived in deep poverty, defined as falling below 50 percent of the federal poverty line.
There is more women population in the world than man so when doing research is easier to sample women
As much as it’s known that a man is a provider , a woman has to be the one that provides for the kids in the interim while the man goes to “hunt”.
I have noticed that on social media and TV when pictures are showed to potray or express poverty in most cases it is a picture of women and children.
ANIBODI CHIAMAKA TESKA
2019/243747
EDUCATION ECONOMICS
No 1:
Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. As a result of the decolonization, the United Nations at first numerically dominated by European countries and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, although essentially academic debate resulting to China and India playing a major role in promoting the political emergence of the third world countries.
NO 2.
Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development and they are classified under low, low middle, upper middle and high income countries.
NO 3.
Characteristics of developing countries.
1. Low level of living
2. Low level of productivity
3. High rates of population growth and dependency burdens.
4. High and rising levels of unemployment and under employment
5. Traditional rural social structures
6. Widespread poverty
NO 4.
Yes I do, this is because women tends to be the most intimidated in the society and due to this they suffer depression and it’s equivalent to poverty.
1]
The beginning of the political emergence can be traced back to the bandung conference in 1955, China alongside India played a vital role in changing the relationship between the third world countries and the industrialised countries, capitalist and Communist. China alongside India played a very important role of promoting and poularizing the bandung conference hence leading to the third world countries being able to gain access to the UN(united nation). The United Nations which was once dominated by European countries was gradually transformed into something of a third world forum.
2]
The indicators for measuring development and under development is know as the human development index (HDI). This simply put is a measurement system used by the United Nations to evaluate the level of individual human development in each country. It was introduced by the U.N. in the year 1990.
It is a statistic that was developed and compiled by the United Nations to measure various countries’ levels of social and economic development. This index is a tool used to follow changes in development levels over time and compare the development levels of different countries.
The HDI places emphasis on individuals by focusing more precisely, on their opportunities to realize satisfying work and lives. Evaluating a country’s potential for individual human development provides a supplementary metric for evaluating a country’s level of development.
3]
Developing countries are otherwise known as underdeveloped countries or third-world countries, they have some common characteristics some of these characteristics are briefly explained below.
The first is that they’re characterised by Low Per Capita Real Income, the real per capita income of developing countries is very low as compared to developed countries. Income in these countries are little and as such not sufficient for majority of the population to invest or even save.
Another characteristics is that they’re characterised by Mass Poverty hence majority of the people are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs,
Another important characteristics is that there are high rates of Unemployment, Unemployment is a major problem and a common feature of developing or underdeveloped nations.
Finally developing nations are Technological Backward, the fact that the development of a nation is a positive and increasing function of innovative technology implies that the use of technology in developing countries is very low and even when technology is used such technologies are grossly outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations.
4]
I agree with the statement that poverty has a womans face, because studies have shown facts that corresponds with the statement that Women of nearly all races and ethnicities face higher rates of poverty than their male counterparts. For example In the United States, more women than men live in poverty. According to U.S. Census Bureau data, of the 38.1 million people living in poverty in 2018, 56 percent—or 21.4 million—were women.
Name:Okoro Peter Ogoegbu Nnenna
Department: combined social science (economics/political science)
Reg.no 2019/243013
1.) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.capitalism, also called free market economy or free enterprise economy, economic system, dominant in the Western world since the breakup of feudalism, in which most means of production are privately owned and production is guided and income distributed largely through the operation of markets.Capitalism is an economic ideology in which the means of production is controlled by private business. This means that individual citizens run the economy without the government interfering in production or pricing. Instead, pricing is set by the free market. This means that value is based on supply and demand and the relationship between producers and consumers.A communist state, also known as a Marxist–Leninist state, is a one-party state that is administered and governed by a communist party guided by Marxism–Leninism. Marxism–Leninism was the state ideology of the Soviet Union, the Comintern after Bolshevisation and the communist states within the Comecon, the Eastern Bloc, and the Warsaw Pact.[1] Marxism–Leninism currently still remains thhe ideology of a few parties around the world. After its peak when many communist states were established, the Revolutions of 1989 brought down most of the communist states, however, it is still the official ideology of the ruling parties of China, Cuba, Laos, and Vietnam.[2] During most of the 20th century, before the Revolutions of 1989, around one-third of the world’s population lived under communist states.2.)Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.The measurement of economic development can be done through the human development index (the HDI)This is the most used index to measure economic development. It takes the following three factors into account:A. Health. The HDI measures the average life expectancy in a specific country and compares it to the global average. .Education. The HDI measures the mean years of schooling and expected years of schooling in a country.C Standard of living. The HDI measures the gross national income (GNI) per head, using the principle of purchasing power parity, PPP.In determining the HDI, each component has an equal weighting of 33%. The closer the HDI is to 1, the more developed the country is.*There are a few developmental measures. They are: A. HDI – Human Development Index.B. HPI – Human Poverty Index.Multidimensional Poverty Index.C. GPI – Genuine Progress Indicator3.)Clearly discuss and analyse the Common Characteristics of Developing Nations.Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.The common characteristics of developing nations are briefly explained below.Major Characteristics of Developing CountriesLow Per Capita Real IncomeThe real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.Mass PovertyMost individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.Rapid Population GrowthDeveloping countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.The Problem of Unemployment and UnderemploymentUnemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries. Excessive Dependence on AgricultureThe majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.Technological BackwardnessThe development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.Dualistic EconomyDuality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.Lack of InfrastructuresInfrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.Lower ProductivityIn developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.High Consumption and Low SavingIn developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy. The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore. In a summary, the major characteristics of developing countries are presented in the following table. 1 Low Per Capita Real Income2 Mass Poverty3 Rapid Population Growth4 The problem of Unemployment and Underemployment5 Excessive Dependence on Agriculture6 Technological Backwardness7 Dualistic Economy8 Lack of Infrastructures9 Lower Productivity10 High Consumption and Low Saving4.)It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you noIn support the motion that poverty has a woman face,To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture …
ILAMI BENISON IBOH
2019/241788
ECONOMICS
bilami35@gmail.com
3.
Characteristics of Developing Nations include
a) LOW PER CAPITA REAL INCOME
This implies that the average income per person of a developing nation is little and insufficient to invest or save.
b) MASS POVERTY
Mass poverty is inherent in developing nations as savings and investments by poor people is low.
c) RAPID POPULATION GROWTH
Developing Nations have the problem of high population or high population growth rate caused by lower sex education, lack of family planning.
d) UNEMPLOYMENT AND UNDEREMPLOYMENT
This is due to the inability of available jobs to be sufficient for the teeming population
e)TECHNOLOGICAL BACKWARDNESS
In developing nations, there is little or no Innovative technology and this leads to lower productivity.
f) LACK OF INFRASTRUCTURE
There is a huge lack of infrastructure and the little infrastructure available is poorly managed.
4.
I agree that poverty has the face of a woman as women are much more prone to poverty due to social norms which dictate that some jobs cannot be done by women as well as the structural discrimination of women in work environments where women face lesser possibilities of getting a job or being promoted in her job.
Furthermore, women face sexual harassment at work as well as domestic violence and this simply leads to poverty.
Few women though, have weathered the storm and climbed to the pinnacles of society but the fact that these women stand out is a clear indication that they are the exception not the rule, therefore, poverty has the face of a woman.
ECO 361
IGBADI ODIYA DANLADI
2019/244347
ECONOMICS
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist ->>>
China and India, as two of the largest countries in the world and with vastly different political and economic systems, have played a significant role in shaping the political and economic structure of the Third World. Both nations have been influential in promoting the emergence of Third World countries and in changing the relationship between these countries and the industrialized nations of the world. China, with its Communist government and planned economy, has been a strong advocate for Third World countries and has provided economic and military support to many of these nations. India, with its democratic government and mixed economy, has also been a significant player in the Third World, promoting economic development and democracy in these countries. Both nations have played a role in shaping the relationship between the Third World and the industrialized nations, capitalist and Communist.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.-:-
In addition to Gross National Income (GNI) per capita, other indicators commonly used to measure development include;
A.) Human Development Index (HDI)
B.) The Multidimensional Poverty Index (MPI)
C.) Gini coefficient (a measure of income inequality).
These indicators take into recognition some factors such as life expectancy, education, and standard of living, in addition to economic indicators like GDP and GNI. The United Nations, World Bank, and other international organizations use these indicators to classify countries as “developed,” “developing,” or “least developed” and to monitor progress towards sustainable development goals.
3. The common characteristics of developing countries include;
a.) Low level of living:- In a developing country the level of living is being classified as low and the cost of living is usually high. The most average persons find it difficult to get the basic amenities for living, like clothing, shelter, food e.t.c.
b.) Dependence on agricultural production and primary products exports:- Most developing countries focus majorly on the production of agricultural and primary product instead of moving to industrialization and industrial goods. This makes them dependant on countries for other facilities, instruments, tools and amenities apart from food.
c.) Traditional / Rural social structures:- You would notice in all developing countries a distinction between the urban areas and rural areas (villages). In developing countries there is presence of rural or traditional social structures around and less modern structures.
d.) High level of insecurity:- Insecurity and terrorism is rampart in most developing countries as they don’t have enough resources to invest in highly sophisticated military system.
e.) High and rising level of unemployment and underemployment:- Developing countries are characterised by a massive number of people who are unemployed or underemployed. There’s no system put in place to help the masses to be gainfully employed.
4. Yes, I agree to the argument that poverty has the face of a woman.
Why..
The statement “poverty has the face of a woman” depicts that women are unequally affected by poverty. This is supported by data which shows that women often have fewer economic opportunities and face greater barriers to financial stability than men.
One reason is that women that works are more likely to be paid low or lower than men for the same work.
Additionally, women face the primary responsibility of taking care for children and other dependants, which can make it more difficult for them to be employed easily or advance their in career.
Another reason is the gender inequalities that exists in many societies, which can limit women’s access to education, employment, and other opportunities that are necessary for escaping poverty.
In conclusion, I agree that poverty has a impact on women. Moreover, it is important to note that poverty affects people of all genders, races,
ECO 361
IGBADI ODIYA DANLADI
2019/244347
odiyadanladi190@gmail.com
ECONOMICS
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist ->>>
China and India, as two of the largest countries in the world and with vastly different political and economic systems, have played a significant role in shaping the political and economic structure of the Third World. Both nations have been influential in promoting the emergence of Third World countries and in changing the relationship between these countries and the industrialized nations of the world. China, with its Communist government and planned economy, has been a strong advocate for Third World countries and has provided economic and military support to many of these nations. India, with its democratic government and mixed economy, has also been a significant player in the Third World, promoting economic development and democracy in these countries. Both nations have played a role in shaping the relationship between the Third World and the industrialized nations, capitalist and Communist.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.-:-
In addition to Gross National Income (GNI) per capita, other indicators commonly used to measure development include;
A.) Human Development Index (HDI)
B.) The Multidimensional Poverty Index (MPI)
C.) Gini coefficient (a measure of income inequality).
These indicators take into recognition some factors such as life expectancy, education, and standard of living, in addition to economic indicators like GDP and GNI. The United Nations, World Bank, and other international organizations use these indicators to classify countries as “developed,” “developing,” or “least developed” and to monitor progress towards sustainable development goals.
3. The common characteristics of developing countries include;
a.) Low level of living:- In a developing country the level of living is being classified as low and the cost of living is usually high. The most average persons find it difficult to get the basic amenities for living, like clothing, shelter, food e.t.c.
b.) Dependence on agricultural production and primary products exports:- Most developing countries focus majorly on the production of agricultural and primary product instead of moving to industrialization and industrial goods. This makes them dependant on countries for other facilities, instruments, tools and amenities apart from food.
c.) Traditional / Rural social structures:- You would notice in all developing countries a distinction between the urban areas and rural areas (villages). In developing countries there is presence of rural or traditional social structures around and less modern structures.
d.) High level of insecurity:- Insecurity and terrorism is rampart in most developing countries as they don’t have enough resources to invest in highly sophisticated military system.
e.) High and rising level of unemployment and underemployment:- Developing countries are characterised by a massive number of people who are unemployed or underemployed. There’s no system put in place to help the masses to be gainfully employed.
4. Yes, I agree to the argument that poverty has the face of a woman.
Why..
The statement “poverty has the face of a woman” depicts that women are unequally affected by poverty. This is supported by data which shows that women often have fewer economic opportunities and face greater barriers to financial stability than men.
One reason is that women that works are more likely to be paid low or lower than men for the same work.
Additionally, women face the primary responsibility of taking care for children and other dependants, which can make it more difficult for them to be employed easily or advance their in career.
Another reason is the gender inequalities that exists in many societies, which can limit women’s access to education, employment, and other opportunities that are necessary for escaping poverty.
In conclusion, I agree that poverty has a impact on women. Moreover, it is important to note that poverty affects people of all genders, races,
Attama Lilian Ogechukwu
Reg no 2019/243411
Department: Economics
1) The banding conference in 1957 was the beginning of the political emergency of the third world. As a result of decolonization, the united Nations at first have dominated by European countries and countries of European origin , was gradually formed into something of the third world forum with increase urgency, the problem of underdevelopment then became the focus of permanent although some academic debate. Despite that debate,the unity of the third world remains hypothetical, expressed on from platform of national conference .
2) Although development can be measured through various ways, the united nations Human development index measure development through the following ways
1) Education attainment
2) Adjusted Real income
3)life expectancy
While that of UN Human poverty index is measured in
1percentage of people expected to die before age 40.
2)Percentage of illiterate adults .
3) percentage of people without access to health services and safe water.
Percentage of underweight children under 5.
3) clear discuss and analyze the common characteristic of developing nation
1) Low level of productivity: A developing nations are characterized with low productivity. They do not have the capacity in other to produce much. Productivity are usually at low level because of low adequate of founding and facilities in the developing nation.
2 ) High and rising level of unemployment and underemployment. There are unemployment and underemployment in the developing nation. This is when person is eligible and able to work and are not able to find job. In the developing nation there are also under employment. This is where by people that are working are working below his capacity. For when an economist is working as a cleaner. So developing nation are soly characterized with all these.
3) low level of living: Developing nation are living at low level, they are struggling to solved They live in poverty.
4) Traditional rural structure : This is when there are traditional structure. In the developing nation infrastructure that is there are mainly traditional structure especially in rural areas.
5) substantial dependence on agriculture product . Developing nation or countries they depends mainly on substantial because there are not enough funding to support them in such as a commercial agriculture.
4) it has been that poverty has the face of women. As a budding, as economics clearly discuss and analyze this statement. Do you agree or disagree, if yes why if no why
Yes I agree
Women has the face of poverty. This is because woman are the caretaker of the family. In a situation where by the father or the uncle are not there it is the woman that will take care of the family. Women carry all the burden associated in the family or in society. Some times men fill less consign about what is happening but is women that will rise up and control any situation. There are believe that women stay longer than women and no matter how you treat women she will definitely come out from that situation with wisdom
MAME: IDAJOR JOHN AYUOCHIEYI
DEPARTMENT: ECONOMICS
REG. NUMBER: 2019/248707
1. China and India have now become global economic powers. Even at the market exchange rate, China overtook Japan in 2010 as the world’s second largest economy. China’s trade and financial activities, India’s emergence as a technology and innovation hub and both countries’ commerce and investment interactions with other developing nations have been covered extensively in all forms of media.
China and India are now both regarded as economic and political drivers of the international economy, particularly in the trade arena and in regards to global governance. Their economic engagement with developing countries and regions entails interactions in the areas of labour, human rights, international relations, security and environmental sustainability. The potential threats are mostly associated with trade and financial flows and with the social and political implications of China’s financial outflows.
Not with stand in, in the midst of the recent global economic crises, China and India’s demand for developing country goods proved to be a cushion to the declining flows of resources from advanced nations. China and India influence global economic and political dynamics and can provide alternative sources of development assistance for developing countries. They can also provide a number of potential lessons for other developing countries, three of which are highlighted in this article: absorption of surplus labour, raising of domestic and foreign investment and support for R&D
Labour market resemblance are key in understanding how economic growth has led to taking in of surplus labour in these economies — particularly in China. Here surplus labour from the traditional agricultural sector has shifted to the progressive industrial sector, thus promoting industrialization.
Characteristics of China’s labour market include an extensive rural-urban inequity, rapid rural-urban migration (despite various restrictions) and high and rising real wages in the formal sectors. In this respect, it has much in common with other emerging economies, such as South Africa. It is instructive however, to draw out the differences between China and South Africa, as this may hold some general lessons for the role of labour market dynamics in economic growth.
China, a labour-surplus economy, is rapidly experiencing a scarcity of labour. In contrast, South Africa — which historically has featured worker shortages — is increasingly suffering from a labour surplus in the form of open unemployment. South Africa’s labour market structure is affected both by the rural-urban migration as well as from inflows of foreign workers.
2. The traditional way of measuring development was brought forth by the United Nations Development Program (UNDP) which measures a country’s development in three perspectives namely: Longevity, knowledge and the standard of living in the country. They use the range 0 to 1 to determine the level of development of any nation.
The longevity aspect measures the life expectancy of individuals in a nation, this has to do with the health stature of the people and the diseases the takes life in the country and how it is being eradicated.
The knowledge aspect looks at the literacy tendency of the people in a nation, both of the tender age, those in the university and the number of literates in the society. With this measure, they’ll be able to tell if the number of educated persons in the country is high or low.
The last phase of measurement is on the standard of living of a nation, this checks on their GDP and how well it used in the country.
Unfortunately, this traditional method of checking Human Development Index has so many set back that makes not to tell of the real development measure, in regards to this, the United Nations, coupled with World banks and other Bretton Woods institutions came up with a way of improvement and a better way to measure the socioeconomic development of a nation. The following are the changes made.
The use of Gross Domestic Product (GDP) as a measure of a nation’s development was replaced with Gross National Income (GNI). This is because, GNI shows the income earn and spent by citizens of a nation who are both in and outside the country.
Also, the education index used in measuring the rate at which knowledge is in a country has been improved. Two new components have been added: the average actual educational attainment of the whole population and the expected attainment of today’s children. With this two added measures, there can be distinction between children who are still attending knowledge at a tender age and those who are at an upper stage.
Expected educational attainment: This also was added because, most students in many countries do not complete the expected level of educational attainment. Most of such case is in Nigeria. With this means, they also check the development of a nation.
Also, literacy has been replaced with the achievement of educated person. Why this came up is that, in most countries, especially in developing ones, the standard of education in such countries is very low, that is why a graduate cannot speak fluent and well constructed English. With this and many others factors surrounding this issue, it has been concluded that the literacy of individuals shows a lot in their achievements, both intellectually and in a creative manner.
Instead of using the common logarithm (log) to reflect diminishing marginal benefit of income, the NHDI now uses the natural log (ln), this reflects a more usual construction of indexes.
Lastly, the most consequential change is that the NHDI is computed with a geometric mean.
All these changes made by the United nations, World Banks and the Brett on Woods institutions made it easy to appropriately compute and measure the socioeconomic development of a nation.
3. The common characteristics of developing nations are as follows:
Lower levels of human capital
Lower levels of living and productivity
Higher levels of inequality and absolute poverty
Higher population growth rate
Greater social fractionalization
Large rural populations but rapid rural to urban migration
Lower levels of industrialization and manufactured exports
Adverse geography
Underdeveloped market
Export dependence
Lower levels of human capital: It is clear that as human beings cannot do without the basic necessities of life such as food, shelter and clothing, so also it is for any nation to stay without the basic human capitals such as health, education and skills. Looking at them closely as follows:
Health: It is the state of being free from physical or psychological disease, illness, or malfunction. For developing nations that are still under the verge of getting to know more about health like the developed nations, their health facilities are still very poor likewise the medical practitioners and operators. A point of reference can be the case of Nigeria whose medical facilities are not worthful as compared to other nations like India, America, China, etc. Most of our politicians in Nigeria, whenever they fall sick no matter the how small the illness may be are being flied abroad to receive treatment while the citizens are left to feed under the excretes of the low health facilities.
Taking some analysis of past years, the under 5 mortality rate is 17 time higher in countries with low income due to health issue, therefore, nations that are still developing are to look into the area of health in order to save lives.
Education: Another low level of human capital in developing countries is education. Most developing countries are not aware of the importance and the benefit of education and as such, it is being played with. In our country Nigeria, the value of education has been downtrodden by the present government, that is why there have been series of strikes from workers and still the response of the government is at a discouraging rate. For a country or nation to have a good level of education, the government should be able to plan and to put in place all the necessary things needed for good learning beginning from the low level of education up to the higher institution. Due to the lack of good education system in developing countries, there is likeliness of illiteracy in such nations and even those that claims to be graduates are not competent enough for the name they bear.
Skills: Skill acquisition is one of the main goals of education. When there is a low level of education in a nation, the skills to be acquired by the youths are not there. In a country like China, every child born at the age of 18 is out of school and has something to do, at a tender age, each child is being taught how to do one thing or the other so that they can progress. If the developing nations would practical method of learning to the other methods, there would be change.
2. Lower levels of living and productivity: The developing nations are characterized by lower level of living due to the situations they found themselves. In a nation where all the different economic sectors are not functioning well, then, there is possibility for a low standard of living and productivity. Looking at the various sector of production in a country like agriculture, if the nature of production in the country is subsistence farming where farmers produce only for consumption, then, there is always a low standard of living. Here, for them to progress, the government should provide them with the modern mechanized tools for farming whereby they can produce for but consumption and for sales which will generate income. If 70% of the country is into a mechanized system of farming, imagine for 5 years, what will be the income of the farmers, with this, the farmers after getting enough income can further get other processing machines that can process and package those primary products they have gotten and also sell them. Like the agricultural aspect, if such is applied to other aspects, there will be growth and development.
3.Higher levels of inequality and absolute poverty: It is true that resources are not evenly distributed, the same way those resources are inequitably distributed, in like manner are the income gotten from there are unevenly distributed. This case of inequitable distribution of income happens even in the developed countries, but their case is different because they are rich and it is not at a high rate, looking at an undeveloped country where there is less income as compared to developed nations, the inequality in the distribution of income is very high because the income at first would not be able to go round and to satisfy all members of the country, also, there is lack of comprehensive method of distribution of such income, therefore, in such a nation, some part of the country may earn higher than others while other may not get anything at all, as a result of this inequitable distribution, there is reduction in production. Example is the case in Nigeria where the proceed from crude oil which is gotten from the south are all used to develop the North leaving the other parts of the country undeveloped.
4. Higher population growth rate: The number of population in a developing countries is actually high due to some reasons. For example, people believe that the more you have children, the more you’ll have enough laborers to work in your farm and to make more gain. Also, there is this believe that having a large family is a pride to that family. This happens due to lack of knowledge and understanding of the new methods of work used in developed countries. Also, there is lack of family planning in developing countries, for example, in China, a family must not have more than two children, with this you can see that the rate at which birth is given is under control.
Research has it that, from 1990 to 2008, the population in developing countries increased at 2.2% yearly while in developed countries, the rate at which the population increased was at 1.3%, with this over population, there is increase in dependency rate in the developing countries and this leads to more problems.
5.Lower levels of industrialization and manufactured exports: The other deep rooted problem of developing countries is low level of industrialization and manufactured exports. In many developing countries, the number of industries found in such countries are quite discouraging, the reverse case is that, in most of these developing countries are found enough resources that can be processed into finished goods. A direct case is that of Nigeria. Nigeria is blessed with crude oil which up till date is the main source of its income in the country, but if asked, how many refineries are there in Nigeria? The answer would be a heart broken one. Nigeria extracts crude oil and sent it abroad to be refined after which they pay for it refining and then sell back to the people, if Nigeria can have up to even 5 refineries, it would make more gain and its good would have value than before, that is why naira is depreciating almost everyday.
With the location of industries in a developing country, there will be less import of manufactured goods, rather they will export more goods to other countries.
6. Underdeveloped markets: The market structure of the developing countries are always not developed because they are in the process of development, and being in a rural area, they lack some of the necessary things a developed market supposed to have such as: (1) a legal system that validates property rights and enforce contracts (2) a stable and trustworthy currency (3) a good infrastructure of roads and utilities that leads to low transport cost and communication cost which facilitate interregional trade (5) a developed banking system for keeping of money (6) social rules and regulations that facilitate successful long term business relationship.
When all these are not in place in a developing countries, the need for a developed market is at stake.
4.
World widely, the World Bank made an estimate that 1.29 billion people are live in absolute poverty; the sad fact is that about 70 per cent of them are women. A point of reference is in Pakistan, it is no different, but without a national census, it isn’t even possible to gauge the correct picture. Poverty is difficult to quantify: the methodology used by the government has been under a critical challenged by the World Bank and the UNDP, while independent organisations consider poverty to be above 28.3pc.
Not withstanding, according to the Human Development Index, 2009, 60.3pc of Pakistan’s population lives on $2 per day. From the records regarding Unesco, 71pc of eligible girls did not attend secondary school in 2009. Gender discriminatory practices shape and made poverty real: as expected, more women are at the suffering end. They suffer poverty of opportunities far more than men do suffer it. Poverty gives rise to social powerlessness, debilitation, and political disenfranchisement, and these add to the vulnerability of the poor.
The reasons for such high poverty levels are several: corruption, illicit capital flight, debt and loan conditionalities, high defence expenditures, and now, extremism. Those are the general ones.
Borrowing from what Tahira Abdullah said, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is said to be multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many of the women.
Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
The risks of increasing poverty grow in parallel with the number of women-headed households and this is appalling. Single mothers are at highest risk, as are their children, who are likely to be deprived of both adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
There is no new thing as surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.
Few poor women have hope of escaping this poverty as there are so many odds stacked against them. Despite laws that favour them, even richer women are regularly denied land inheritance by emotional coercion, forced marriage.
If women are to progress and participate effectively in the economy, they must receive equal education, equal training, in rural and urban sectors and equal dignity and income. Pakistan cannot achieve progress on the efforts of less than half its population.
With all these, I believe that poverty has a woman’s face.
Name: John Blessing Rosemary
Reg: 2019/241898
Dept: Economics Dept
1. China’s national history is deeply affected by its struggle against imperialism and the
Communist revolution that leads to state directed economic development. Even under the current globalist regime Chinese leaders have been careful to retain control of their economy. So far they have avoided the pitfalls of financial speculation and the loss of capital controls that put other countries under IMF dictated structural adjustments. Chinese leaders intend to insert themselves into the global economy as fully respected and integrated members of the transnationalized capitalist class, not as indebted junior partners. They have used their control of the government and their statist experience to remold local economic institutions and jettison their communist past without losing their power. In fact, the state-owned sector still produces 68% of the GDP and employs 729 million people. Unlike their Russian cousins who lost any sense of national purpose in a chaotic surrender to the new oligarchy, the Chinese Communist Party has transformed their socialist ideology into a new national project that defines modernization in globalist terms. But their heritage of national independence, shorn of its Maoist equalitarianism and radical impulse, helps to determine their insertion into the globalist structure. Although Newsweek complains that “lingering absurdities of Chinese communism continue to foil the multinational dream of huge profits,” many of these “absurdities” are realistic concerns over national development and uncover the contradictory process of Chinese globalization. (Schafer) This nationalist/globalist dialectic is revealed in an interview with Samsung’s CEO Yun Yong. When asked what it is like working with Beijing Yong replied, “Chinese officials are perhaps the most accommodating in the world to foreign investors, because their job performance is evaluated on the amount of foreign capital they attract. There are unions in China, but they don’t pose serious problems.” Yet Yong also explains “You cannot survive in China without becoming a Chinese company. That includes local technology development, product design, procurement, manufacturing and sales.” (Lee) For Chinese capitalism the road to national development runs parallel to globalization.
For decades India followed a statist developmental model established by Jawaharlal Nehru and the Congress Party. This resulted in a large civil service employment base, state sponsored industries with a strategy of import substitution, backed by a non-aligned foreign policy. In addition to the Congress Party this policy was generally support by two large electoral reformist Marxist organizations, the Communist Party of India and the Communist Party of India (Marxist). To encourage national cohesion Indian identity was cultivated as a composite of many faiths co-existing under a secular state. This nationalist model of development was challenged by the rise of the Bharativa Janata Party (BJP) under the leadership of Atal Behari Vajpayee. BJP combines Hindu ethnic nationalism with neo-liberal economics. This mixture of narrow nationalism with a globalist economic outlook is particular to India. The BJP arose out of Rashtriya Swayamsevak Sangh (RSS) an extremist Hindu organization modeled on the Italian fascist movement. It was a member of the RSS who assassinated Mahatma Gandhi, an act celebrated in the streets by Hindu nationalists. Vajapyee has urged BJP towards less extremist policies but nevertheless under his government
there were widespread and violent attacks against Muslim and Christian communities carried out by BJP members. Yet on the international stage Vajapyee moved to relax tensions with Pakistan, deepen economic ties to China and joined Brazil in a robust promotion of Third World economic concerns in the WTO. At home the BJP set out to privatize India’s large state owned
industries and cut the federal bureaucracy in typical neo- liberal fashion. But the BJP’s global strategy undercut some of its nationalist appeal. With a focus on the advanced urban economy and the small emerging IT middle class, agricultural reforms that would benefit India’s great rural poor majority were ignored.
The results were millions of poor and working class Indians giving a surprise victory to the Congress Party in the 2004 elections. But the Congress Party is also committed to bringing India into the transnational economy. As noted by Wipro Vice Chairman Vivek Paul, “Let’s remember that Congress was the architect of reforms a decade ago and the first to turn away from the old centralist system. That is a great comfort.” (Luce, Marcelo) The appointment of Manmohan Singh to prime minister and Palaniappan Chidambaram as finance minister has reassured transnational capitalists that India will continue on its path towards global integration. As finance minister in the previous Congress government the Oxford educated Singh was the first to push neo- libreral reforms. Chidambaram is also a Western educated economist from Harvard who as a
lawyer represented some of the largest transnational corporations operating in India.
But the Congress Party has positioned itself as neo-Keynesian globalists rather than neo- liberals. This has committed the party to a more cautious approach to privatization while promising to help the rural economy by building new roads and irrigation projects. This would bring India closer to the “Beijing Consensus,” particularly with the strong electoral showing for the CPI (M) and other Marxist parties who are critical of the IMF and the selling of profitable state owned companies. Singh has already abolished the ministry of privatization and has ruled out the sale of some major state owned companies in the oil, gas and energy sector. The central government still owns 240 state companies and foreign direct investment only accounts for 0.7% of the GDP compared to 4.2% for China and 3.2% for Brazil.
Communist influence worries global investors who complain India’s labor laws are too restrictive and fear the new government will fail to make it easier to fire workers and hire temporary labor. In 2003 transnationals contributed only $4 billion dollars in foreign direct investment compared to $50 billion in China. “We can forget labour reform for the time being”
says Subir Gokarn chief economist of Crisil, India’s largest domestic credit rating agency. But global capitalists shouldn’t be overly worried. The CPI (M) has governed West Bengal for over 20 years where IBM is one of the state’s largest investors. As Jon Thorn, manager of the India Capital Fund of Hong Kong says, “If Bengal is good enough for IBM then the rest of India should be okay for equivocating foreign investors (researchgate).
2. Other criteria and indicators for measuring development and underdevelopment as instituted by the united nation, world bank and other bretton wood.
a. Birth and death rates
Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.
b. The human development index (HDI):
The HDI is a composite statistic calculated from the:Life expectancy index, Education index, Mean years of schooling index, expected years of schooling index, Income index.Countries are ranked based on their score and split into categories that suggest how well developed they are.
c. Infant mortality rate:
Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.
d. Literacy rate:
The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.
3a. Low Per Capita Real Income:The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
b. Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
c. Rapid Population Growth: Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
d. The Problem of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
e. Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
f. Technological Backwardness:The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
g. Dualistic Economy: Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
h. Lack of Infrastructures: Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
i. Lower Productivity: In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
4. (According Africannews)The 68-year-old former African Union Commission chairperson, said as the backbone of any society, women play a crucial role and yet are the most marginalized politically, something that needed to stop. ‘‘Since we are the majority of the population and we produce the rest of the population why can’t we lead? If we lead our families and communities why can’t we lead South Africa,’‘ she rhetorically asked. ‘If we elect a female President we can look to her to empower women and fast track women’s emancipation,’‘ a former health minister and leading member of the ANC said. She is also a former wife of President Zuma – who has endorsed her candidature during the December congress.She was addressing a Catholic Women’s Union in the town of Marrainhill on Saturday when she made the pronouncement. According to her, poverty in the Rainbow nation had assumed a gender, it was feminine thanks to what she described as the triple oppression. ‘‘The face of poverty is feminine especially in South Africa because women suffer triple oppression. We are oppressed because we are poor, black and female. The triple and persistent challenges of poverty, inequality and unemployment affect women more than they do men,’‘ she said.She stressed the importance of education as a leveler in issues of gender discrimination and the need for women to support one another in efforts aimed at economic emancipation and in order to benefit from the radical economic transformation.
yes i agreement with the term that poverty has a woman’s face because women work harder at home more than in their various places of work where they are been paid for working. They get pregnant for 9months, nurse their babies, prepare food and other domestic choice yet all they get is thank you after all the hard work. Definitely if they use the time used for domestic chores for business purposes they will earn more income and more richer. so the reason why poverty has a woman’s face is because despite the fact that women work harder they still do not earn more income from working very hard than the men.
Anwers:
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.
2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.
3.
1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
5.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
6.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development..
These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.
4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.
Additionally, women are also more likely to live in poverty in older age due to the lack of social security and pension schemes that cover for women.
Name:OZONWU CHUKWUEBUKA SILAS
REG NO:2019/244686
ECO 361
DEVELOPMENT ECONOMICS
DEPT:ECONOMICS DEPARTMENT
1.) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.
2.) Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
UNDP uses the Human Development Index (HDI) as the main criterion for measuring development. This criterion takes into consideration other development indicators like literacy level, life expectancy, besides per capita income. Whereas, the World Bank compares the different countries only on the basis of the income criterion.
(ii) The Human Development Index (HDI) is a measurement system used by the United Nations to evaluate the level of individual human development in each country.
It was introduced by the U.N. in 1990. No
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 uses components such as average annual income and educational expectations to rank and compare countries.
The HDI has been criticized by social advocates for not representing a broad-enough measure of quality of life and by economists for providing little additional useful information beyond simpler measures of the economic standard of living.
(iii) Infant mortality rate
Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.
(iv) Literacy rate
The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
(v) High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.
(vi) Life expectancy
This simple statistic can be used as an indicator of the:
(vii) healthcare quality in a country or province
level of sanitation
provision of care for the elderly
It should not, of course, be used on its own to describe these things
(3) Clearly discuss and analyse the Common Characteristics of Developing Nations.
1 Low Per Capita Real Income
2 Mass Poverty
3 Rapid Population Growth
4 The problem of Unemployment and Underemployment
5 Excessive Dependence on Agriculture
6 Technological Backwardness
7 Dualistic Economy
8 Lack of Infrastructures
9 Lower Productivity
10 High Consumption and Low Saving.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020.
(4) It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure hwo you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
Well I think poverty has a woman’s face around . And I think in my opinion it can be due to the following reasons :
There is more women population in the world than man so when doing research is easier to sample women
As much as it’s known that a man is a provider , a woman has to be the one that provides for the kids in the interim while the man goes to “hunt”.
I have noticed that on social media and TV when pictures are showed to potray or express poverty in most cases it is a picture of women and children.
Name: Anusionwu Otuodichukwumma Falicitas
Reg no: 2019/245869
Dept Economics
Common characteristics of developing countries
1.Low levels of living:
Some developing countries, their standard of living is low.
There is no equal distribution of income and those who earn income are small while those that are not earning are high.
2. Low level of productivity: some developing countries, the production of goods and services are inadequate because they don’t have the equipment and money to fund the production of goods and services.
3. High and rising levels of unemployment and under- employment.
There is high level of unemployment. Most of the developing countries they don’t industries for them to be able to employ people who need the work.
4. Substantial dependence on agricultural production and primary product exports.
5. Dependence and vulnerability: expose to the possibility of being attacked or harrased, either physically or emotionally.
Question four
Poverty can increase violence. Particular groups of women, including women and girls living in poverty, face multiple forms of discrimination, and face increased risks of violence as a result. Studies show that poor girls are 2.5 times more likely to marry in childhood than those living in the wealthiest quintile.
Women and girls living in poverty are more vulnerable to sexual exploitation, including trafficking. And those who experience domestic or intimate partner violence have fewer options to leave violent relationships, due to their lack of income and resources.
To address such issues, UN Women runs programmes to empower women economically and lift them out of poverty, as well as strengthen social services for survivors and increase awareness of their rights.
Common characteristics of developing countries
1.Low levels of living:
Some developing countries, their standard of living is low.
There is no equal distribution of income and those who earn income are small while those that are not earning are high.
2. Low level of productivity: some developing countries, the production of goods and services are inadequate because they don’t have the equipment and money to fund the production of goods and services.
3. High and rising levels of unemployment and under- employment.
There is high level of unemployment. Most of the developing countries they don’t industries for them to be able to employ people who need the work.
4. Substantial dependence on agricultural production and primary product exports.
5. Dependence and vulnerability: expose to the possibility of being attacked or harrased, either physically or emotionally.
Question four
Poverty can increase violence. Particular groups of women, including women and girls living in poverty, face multiple forms of discrimination, and face increased risks of violence as a result. Studies show that poor girls are 2.5 times more likely to marry in childhood than those living in the wealthiest quintile.
Women and girls living in poverty are more vulnerable to sexual exploitation, including trafficking. And those who experience domestic or intimate partner violence have fewer options to leave violent relationships, due to their lack of income and resources.
To address such issues, UN Women runs programmes to empower women economically and lift them out of poverty, as well as strengthen social services for survivors and increase awareness of their rights.
Eco 361
Ogaeme Onyedikachi Lovedey
2019/251298
Economics department
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist ->>>
China and India, as two of the largest countries in the world and with vastly different political and economic systems, have played a significant role in shaping the political and economic structure of the Third World. Both nations have been influential in promoting the emergence of Third World countries and in changing the relationship between these countries and the industrialized nations of the world. China, with its Communist government and planned economy, has been a strong advocate for Third World countries and has provided economic and military support to many of these nations. India, with its democratic government and mixed economy, has also been a significant player in the Third World, promoting economic development and democracy in these countries. Both nations have played a role in shaping the relationship between the Third World and the industrialized nations, capitalist and Communist.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.-:-
In addition to Gross National Income (GNI) per capita, other indicators commonly used to measure development include;
A.) Human Development Index (HDI)
B.) The Multidimensional Poverty Index (MPI)
C.) Gini coefficient (a measure of income inequality).
These indicators take into recognition some factors such as life expectancy, education, and standard of living, in addition to economic indicators like GDP and GNI. The United Nations, World Bank, and other international organizations use these indicators to classify countries as “developed,” “developing,” or “least developed” and to monitor progress towards sustainable development goals.
3. The common characteristics of developing countries include;
a.) Low level of living:- In a developing country the level of living is being classified as low and the cost of living is usually high. The most average persons find it difficult to get the basic amenities for living, like clothing, shelter, food e.t.c.
b.) Dependence on agricultural production and primary products exports:- Most developing countries focus majorly on the production of agricultural and primary product instead of moving to industrialization and industrial goods. This makes them dependant on countries for other facilities, instruments, tools and amenities apart from food.
c.) Traditional / Rural social structures:- You would notice in all developing countries a distinction between the urban areas and rural areas (villages). In developing countries there is presence of rural or traditional social structures around and less modern structures.
d.) High level of insecurity:- Insecurity and terrorism is rampart in most developing countries as they don’t have enough resources to invest in highly sophisticated military system.
e.) High and rising level of unemployment and underemployment:- Developing countries are characterised by a massive number of people who are unemployed or underemployed. There’s no system put in place to help the masses to be gainfully employed.
4. Yes, I agree to the argument that poverty has the face of a woman.
Why..
The statement “poverty has the face of a woman” depicts that women are unequally affected by poverty. This is supported by data which shows that women often have fewer economic opportunities and face greater barriers to financial stability than men.
One reason is that women that works are more likely to be paid low or lower than men for the same work.
Additionally, women face the primary responsibility of taking care for children and other dependants, which can make it more difficult for them to be employed easily or advance their in career.
Another reason is the gender inequalities that exists in many societies, which can limit women’s access to education, employment, and other opportunities that are necessary for escaping poverty.
In conclusion, I agree that poverty has a impact on women. Moreover, it is important to note that poverty affects people of all genders, races, and backgrounds.
Name: Chidiebere James Chiwendu
Reg No: 2019/249120
Dep: Combined Social Sciences (Economics/Sociology)
Course: Eco 361
1. Both China and India, as large and populous nations with distinct social and economic systems, have played a significant role in shaping the political landscape of the Third World and influencing the relationships between Third World countries and industrialized nations. China, as a communist country, has promoted socialist ideologies and supported socialist movements in other countries, while India, with its mixed economy and democratic government, has advocated for non-aligned and independent policies. These contrasting approaches have had a significant impact on the political and economic development of Third World countries.
2. Traditionally, developing countries have been defined based on their Gross National Income (GNI) per capita per year. The World Bank uses a threshold of $1,026 per capita to determine which countries are considered “developing” and which are considered “developed.” However, the United Nations and other Bretton Woods institutions such as the International Monetary Fund (IMF) and the World Bank have developed a wide range of other criteria and indicators to measure development and underdevelopment. These include measures of poverty, health, education, gender equality, and access to basic services such as clean water and sanitation. Additionally, these organizations also use indicators that measure economic growth, infrastructure, and governance to determine the level of development. The Human Development Index (HDI) is an example of the composite index which measures a country’s average achievements in three basic dimensions of human development: a long and healthy life, access to knowledge and a decent standard of living.
3. Developing nations, also known as less developed or underdeveloped countries, share a number of common characteristics. These include:
1. Low income: Developing nations typically have lower per capita income compared to developed countries. This is often reflected in a higher poverty rate and lower standard of living for the majority of the population.
2. Weak economic infrastructure: Developing nations often have weak economic infrastructure, including inadequate transportation and communication systems, which can impede economic growth and development.
3. Dependence on primary products: Developing nations are often heavily dependent on the export of primary products such as agricultural goods or raw materials, which can make their economies vulnerable to fluctuations in world prices.
4. High population growth: Developing nations often have high population growth rates, which can place strain on resources and make it more difficult to achieve sustainable economic growth.
5. Low level of human development: Developing nations often have lower levels of human development, as measured by indicators such as life expectancy, literacy, and access to basic services such as healthcare and education.
6. Political instability: Developing nations are often characterized by political instability, with a weak rule of law and a lack of democratic institutions. This can make it difficult to implement policies necessary for sustainable economic development.
7. Income inequality: Developing nations are often characterized by high levels of income inequality, which can perpetuate poverty and impede economic growth.
8. Environmental degradation: Developing nations are often at a greater risk of environmental degradation, with weak or absent regulations to protect natural resources and poor infrastructure to manage pollution
4. The statement “poverty has the face of a woman” refers to the idea that women are disproportionately affected by poverty. This is generally true, as women tend to have lower incomes, less access to education and job opportunities, and greater responsibilities for caregiving and household work. This can make it more difficult for women to escape poverty and can also lead to a perpetuation of poverty within families and communities.
I agree that women are disproportionately affected by poverty. There are various reasons for this. One is that women tend to have lower levels of education and job skills, which can limit their employment opportunities and earning potential. Women also tend to be concentrated in lower-paying and less secure jobs, such as domestic work and caregiving, which can make it difficult for them to support themselves and their families. Additionally, women often have primary responsibility for caregiving within families, which can limit their ability to work and earn an income.
Discrimination and discrimination also play a significant role in exacerbating poverty among women. In many countries, women have limited legal rights and face discrimination in the workplace, which can make it difficult for them to find and keep jobs. In addition, cultural and societal norms can lead to discrimination against women in education and in access to credit and other financial resources.
In conclusion, while poverty affects both men and women, women are disproportionately affected by poverty due to a combination of factors including discrimination, lack of education and job skills, limited access to financial resources and societal norms. To address poverty among women, it is important to focus on increasing access to education, job training, and financial resources for women, as well as working to change discriminatory cultural norms.
Onwudimegwu Emmanuel Onyekachi
2019/246703
Combined social sciences(Eco/Soc)
1. Shigeo Kobayashi, Jia Baobo and Junya Sano
Introduction
The Chinese Economy since the Start of the Reform and Open-door Policy
The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.
The obvious aim of this policy shift was to rebuild its economy and society that were devastated by the Cultural Revolution. The policy shift also appears to have been prompted by recognition that the incomes of ordinary Chinese were so low, in comparison with incomes in other Asian economies, that the future of the Chinese state and the communist regime would be in jeopardy unless something was done to raise living standards of its people through economic growth.
The government subsequently established a number of areas for foreign investment, including the special economic zones, open coastal cities, the economic and technology development zones, the delta open zones, the peninsula open zones, the open border citiees, and the high-tech industry development zones. The establishment of these zones provided the trigger for massive inflows of foreign investment, primarily from companies in Hong Kong and Taiwan. At the same time, China promoted its socialist market economy concept. The changes brought an entrepreneurial boom that resulted in the emergence of huge numbers of entrepreneurs and venture businesses within China.
Inflows of foreign capital, technology, and management knowhow enabled China to turn its vast labor resources and space to rapid economic growth. The shift to an open-door economic policy ushered in a period of high economic growth in the first half of the 1980s. The economy stagnated around the time of the Tiananmen Square Incident in 1989, but in the first half of the 1990s, China was again boasting high growth rates. Rapid economic growth was accompanied by a rise in per capita GDP (Fig. 1). In 1998, per capita income, though still only about US$770, was 14 times higher than in 1980. Therefore, it seems reasonable to conclude that Deng Xiaoping’s first goal, which was to improve the economic status of the people, has been accomplished.
2. Three criteria are used to decide whether or not a country is a Low Developing Country(LDC): A measure for per capita income, a human assets index and an economic and environmental vulnerability index. Countries with less than $1,035 GNI per capita are classified as low income countries, those with between $1,036 and $4,085 as lower middle income countries, those with between $4,086 and $12,615 as upper middle income countries, and those with incomes of more than $12,615 as high income countries. At the end of 2021, there were 46 countries on the UN list.
3a.) Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
b.) High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
c.) High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
d.) Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
e.) Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
4. I AGREE;
Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship, say MEPs in a non binding resolution adopted on Tuesday. Two other resolutions look at measures to combat gender stereotyping in the EU and to protect women’s rights in North Africa.
The global economic crisis will have a major impact on women.
Girls, more than boys, will suffer in areas such as education and infant mortality
– The plight of women must be incorporated in any economic development strategy
WASHINGTON, May 15, 2009 – The global economic crisis will drastically reduce African women’s individual incomes as well as the budgets they manage on behalf of their households, with particularly damaging consequences for girls, said Obiageli Ezekwesili, World Bank Vice President for the Africa Region, at a recent conference on the impact of the global economic crisis on women in Africa.
1. China and India-played a major role in promoting the political emergence of the third world countries.
How did they realize this? Research shows that two countries were freed from colonial control thanks to their cooperation. Even though their social and economic systems were different, this distinction altered how the capitalist and communist societies interacted. The decolonization was a result of this collaboration. As a result, the United Nation, which is dominated by European nations, began to deteriorate into a third-world country. This sparked a significant policy discussion on underdevelopment and the development of new theories, mostly on the stage of an international conference.
2. The United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
This includes an index that took into account population growth, exchange rates, inflation, and economic growth. This index can be used to gauge a country’s development on a wider scale than GNI per capita because infrastructure changes, income distribution, and ownership of the factors of production must all change for growth to take place.
3. Common Characteristics of Developing Nations include:
(a) Low living standards: The standard of living is extremely low in all developing countries. Many people in underdeveloped countries struggle to meet their most basic requirements, including food, housing, and clothing.
They have a low standard of living because they must find a way to exist without access to all of these essential daily necessities.
(b) Widespread poverty: Developing countries lack the resources necessary to support their expanding populations.
(c) High level of population increase and dependency burdens: Developing countries experience rapid economic development.
(d) Dependence and vulnerability: Due to the fact that so many people in developing countries don’t have jobs, there is a high rate of dependency in these countries.
(e) Traditional, rural social structure: Rural areas in developing countries tend to have a lot of shoddy infrastructure. Rural areas in underdeveloped countries have little to no modern infrastructure and social structure.
(f) Low productivity: The majority of emerging countries are experiencing a downturn or recession. wherein there is no maximal production use of the available resources. As a result, emerging countries have poor productivity and low output; often, input exceeds output.
(g) Significant reliance on agricultural output: Developing nations are heavily dependent on agriculture. due to a lack of cutting-edge machinery and technologies that may enhance the agricultural industry. With the help of this technology, the agricultural sector might develop to the point where it can sufficiently feed the country, import goods, and serve as a source of raw materials for other sectors.
(h) Primary product exports: The majority of developing countries sell their primary production goods at a discount to developed countries. and pay more for manufactured goods imported from developed countries. This would lead to a deficit in those developing countries’ balance of payments.
(I) High and rising levels of unemployment and underemployment: Developing countries experience high levels of unemployment and underemployment because there are fewer job possibilities there than there are people who can work ( labour market ). Because of this, a sizable portion of the population is unable to find work, and some are dissatisfied with the current unemployment rate and low employment rate. creating underemployment and unemployment, which causes social insecurity.
4. I agree with the statement “ poverty has the face of a woman “. My reason is that in developing nations, they hardly invest into the population of women, by this, I mean that a low rate of women attend school and acquire the skill they need to be productive in society, thereby causing a large number of population of women to be in poverty and have high dependency on their male counterparts.
Ugwu Silas Chinazaekpere
2019/244182
Economics
1. It will be worthy to note that the two countries were freed from colonial control thanks to their cooperation. Even though their social and economic systems were different, this distinction altered how the capitalist and communist societies interacted. The decolonization was a result of this collaboration. As a result, the United Nation, which is dominated by European nations, began to deteriorate into a third-world country. This sparked a significant policy discussion on underdevelopment and the development of new theories, mostly on the stage of an international conference.
2. conventional speech Underdevelopment has traditionally been measured in terms of GNI per capita. However, measuring progress via a GNI is a more limited concept than development itself. Therefore, the United Nations, World Bank, and Bretton Woods organizations used an index that took into account population growth, exchange rates, inflation, and economic growth. This index can be used to gauge a country’s development on a wider scale than GNI per capita because infrastructure changes, income distribution, and ownership of the factors of production must all change for growth to take place.
3. a) Low living standards: The standard of living is extremely low in all developing countries. Many people in underdeveloped countries struggle to meet their most basic requirements, including food, housing, and clothing.
They have a low standard of living because they must find a way to exist without access to all of these essential daily necessities.
b) Low productivity: The majority of emerging countries are experiencing a downturn or recession. wherein there is no maximal production use of the available resources. As a result, emerging countries have poor productivity and low output; often, input exceeds output.
c) High pace of population increase and dependency burdens: Developing countries experience rapid economic development.
d) High and rising levels of unemployment and underemployment: Developing countries experience high levels of unemployment and underemployment because there are fewer job possibilities there than there are people who can work ( labour market ). Because of this, a sizable portion of the population is unable to find work, and some are dissatisfied with the current unemployment rate and low employment rate. creating underemployment and unemployment, which causes social insecurity and other vices.
e) Traditional, rural social structure: Rural areas in developing countries tend to have a lot of shoddy infrastructure. Rural areas in underdeveloped countries have little to no modern infrastructure and social structure.
f) Widespread of poverty: Developing countries lack the resources necessary to support their expanding populations.
g) Significant reliance on agricultural output: Developing nations are heavily dependent on agriculture. due to a lack of cutting-edge machinery and technologies that may enhance the agricultural industry. With the help of this technology, the agricultural sector might develop to the point where it can sufficiently feed the country, import goods, and serve as a source of raw materials for other sectors.
h) Primary product exports: The majority of developing countries sell their primary production goods at a discount to developed countries. and pay more for manufactured goods imported from developed countries. This would lead to a deficit in those developing countries’ balance of payments. Dependence and vulnerability: Because so many people in developing countries don’t have jobs, there is a high rate of dependency in these countries.
4. I will agree with the statement “ poverty has the face of a woman ” in a developing nations they hardly invest into the population of women, like a low rate of women attend school and acquire the skill they need to be productive in society cause a large number of population women to be in poverty and have high dependency on there male counterparts.
1.A.Economic engagement: Both countries have been active in investing and trading with other countries, particularly in the Third World, which has helped to promote economic growth and development in these countries.
b. Technical assistance and aid: Both countries have also provided technical assistance and aid to other developing countries, particularly in areas such as infrastructure development, agriculture, and healthcare.
It’s worth noting that both China and India have had a complex relationship with the West and have had different approach in their foreign policy. For example, China has been criticized for its human rights record and lack of political freedoms, while India has been praised for its democratic system and commitment to human rights.
2.Democracy Index : A measure of the state of democracy in countries around the world.
B. Ease of Doing Business Index: A measure of the ease of doing business in different countries.
3.
Environmental degradation: Developing nations are often characterized by environmental degradation, which can be due to a lack of regulation, a lack of awareness, or a lack of resources to address environmental issues.
It’s worth noting that these characteristics are not universally true for all developing nations and that there are many variations in the level of development and characteristics within and among countries. Additionally, some of these characteristics can be interrelated and mutually reinforcing.
4.
a.Disproportionate impact of economic shocks: Economic shocks such as recessions and natural disasters disproportionately impact women and girls, as they often have limited access to resources and opportunities to mitigate the effects of these shocks.
b. Vulnerability to violence: Women and girls are disproportionately affected by violence, which can have long-lasting economic and social effects, making it more difficult for them to escape poverty.
1. Two nations, china and India whose Economic and Social systems were sharply and greatly opposed happened to have played Promoting a major more in the of the political Emergence of the third wond Countries and they also changed the relation between the third word and the Industri Countries, Capitalist and Communist.It was the Bandung Conference of 1955 tedd that led to the Emergence of the third wond. India played a major role in raising the Voice of newry Independent Countries.The third world is used to classify Countries that are poor or developing. They are characterized by high poverty rates, Economic and political Instability.
2. GNI PER CAPITA :
GNI per capita provides information on the overall level of resources available to a country. GNI in local currency is recorded in the national accounts in accordance with the relevant international standards. It is then converted into the United States dollar, using the World Bank Atlas method to calculate conversion factors. The Atlas method is based on market exchange rates, but aims to reduce the impact of short-term exchange rate fluctuations on GNI in US dollars. GNI in US dollars is then divided by the annual population of a country to determine GNI per capita. The threshold for inclusion is set at the three-year average of the level of GNI per capita, which the World Bank defines for identifying low-income countries. For instance, in the latest review in 2018, the threshold for inclusion in the LDC category was $1,025. The threshold for graduation was $1,230 which is set at 20 percent above the inclusion threshold.
b) THE HUMAN ASSETS INDEX (HAI):The HAI is a measure of the level of human capital. Good health is a critical part of human well-being, and improving the health status of the population leads to the increase in the productivity, educational attainment and poverty reduction. Education is another major element of human well-being itself, and a low level of education implies a low productivity, and limited capacity to absorb technological advances. The HAI consists of five indicators, three on health and nutrition and two on education, with each one having an equal weight in the overall HAI. A higher HAI index represents a higher development of human capital.
c) THE ECONOMIC VULNERABILITY INDEX :The EVI measures the structural vulnerability of countries to economic and environmental shocks. High vulnerability is a major impediment to sustainable development in view of heightened exposure to shocks and their long lasting negative impacts. Vulnerability depends mainly on the magnitude and frequency of such shocks, and on the structural characteristics of the country concerned. The EVI covers two types of shocks: external trade shocks and environmental or natural shocks. The latter include natural disasters, weather shocks unfavourable for agriculture production and permanent shocks caused by climate change. Accordingly, EVI is composed of eight indicators, grouped into two main components: an exposure index and a shock index .As these indicators are expressed in different measurement units, indicator values are first converted into index scores between 0 and 100, using the maxmin procedure. A lower EVI index indicates lower economic vulnerability
3.
LOW LEVELS OF LIVING AND PRODUCTIVITY:This indicates that resources are not utilizing their skills and competencies to their maximum potential which increases company’s resourcing costs.
HIGH RATE OF UNEMPLOYMENT AND UNEMPLOYMENT:A high unemployment rate means that the economy is not able to generate enough jobs for people seeking work.And Underemployment is a measure of the total number of people in an economy who are unwillingly working in low-skill and low-paying jobs or only part-time because they cannot get full-time jobs that use their skills.
HIGH RATE OF POPULATION,GROWTH AND DEPENDENCY BURDEN:A high dependency ratio indicates that the economically active population and the overall economy face a greater burden to support and provide the social services needed by children and by older persons who are often economically dependent.
4. The statement “Poverty has the face of a woman”is a statement I choose to agree on.This is because in many African countries using Nigeria particularly as a case study has a lot of women who struggle to make ends meet.A good number of Nigerian women are always seen on the streets engaging in different different kinds of jobs just to help the family.Some of them get to struggle and suffer a lot during the process of doing this.So I believe that Making a Statement that women has the face of poverty is clearly because of the struggles most of them pass through.
No. 1
China and India are business rivals at heart. The former’s remarkable economic rise threatens India, which trails its neighbor on almost every conventional socioeconomic indicator. China may be strong in manufacturing and infrastructure and India in services and information technology, but the latter’s manufacturing industry is becoming globally competitive, while China’s technology sector threatens to match India’s in a decade. Both have a growing appetite for natural resources such as oil, coal, and iron ore, for which they compete fiercely. They also fight for capital, especially for investments by multi-national companies from North America, Europe, and Japan. All this makes it difficult to believe that China and India can ever cooperate. Few people think to ask, “Can China and India work together?” Instead, a big question debated in boardrooms is whether India can catch up with China.
This perspective is incomplete. China is home to 1.3 billion people; India has a population of 1.1 billion. In the next decade, they will become the largest and third-largest economies in terms of purchasing power. By 2016 they will account for around 40% of world trade, compared with 15% in 2006. That’s roughly the position they occupied about 200 years ago. Economist Angus Maddison has calculated that in the 1800s, China and India together accounted for 50% of global trade. It is impossible to make predictions about the integration of these countries into the global economy, because past events, such as Germany’s reunification and the fall of the Iron Curtain, don’t compare. After those occurrences in 1990, a large number of people entered the global economy, but the numbers pale in significance when compared with the China–India double whammy. Like it or not, the world’s future is tied to China and India.
No. 2
The criteria and indicator for measuring development and underdevelopment includes:
Life expectancy index: this measures the quality of healthcare available in a country, levels of sanitation, provisions for the the aged
This is a good way to measure whether a country is development or not
Education index: the quality of education in countries can also be used an indicator for develop or underdeveloped countries.
Infant mortality rate: this is the number of infants dying before reaching one year per 1000 live birth in a given year.
Literacy rate: the percentage of people who are able to read and write is also a good indicator to measure the level of education in a country.
No. 3
Clearly discuss and analyse the common characteristic of developing nations
The major characteristic of developing countries include:
A. Low per Capita income
The real per Capita income of developing countries is low compared to developed countries.
This means that the individual income in developing countries are low and is not enough to save or invest . This leads to low savings and low investment.
B. High rate of poverty.
This high rate of poverty in developing countries as a result of low income, unemployment or underemployment, lack of technology.
This make life difficult in that part of the world.
C. Over dependence on agriculture.
Using Nigeria as a case study. Majority of the people in rural areas engage in agricultural practices and subsistence farming.
Agriculture is their major source of income.
D. Poor infrastructural facilities.
The developing countries little or no infrastructure, they lack the basic amenities of life such as, good health facilities, electricity, good road networks.
The available ones are not well managed.
E. Low level of technology.
The level of technology in developing countries are very low and outdated. This leads to low productivity and
No. 4
Poverty has the face of a woman.
I agree that poverty has the face of a woman, because woman are mostly affected by economic, social and various problem encountered in an economy.
Unequal economic opportunities, gender pay gap, limited access to quality education are some of the problem faced by woman. All these are the major reasons why poverty is associated to a woman
Women are the forefront of poverty.
The media uses the face of women and children to express poverty, this is to show that they are the ones mostly affected by poverty.
To my own understanding i think this shows us that it is very important to help mothers in need.
HEZEKIAH JOY CHIWONKE
2019/245662
ECONOMICS/PHILOSOPHY
Hezekiahjoy224@gmail.com
1.
There has been so many misconceptions of the concept of the Third World and hence there has been no clear-cut definition of the third world. However, in the light of its origins, this term arose during the cold war to identify countries that were not aligned with the First world, the US, Western European and their allies, not with the Second World, the Soviet Union, China, Cuba and their allies. Another name the Third World countries were known for was NAM ,i.e. countries in the Non-Aligned Movement.
The First World were known as the Capitalist Bloc, while the Second World were known as the Communist Bloc. These blocs arose with respect to those who commanded authority Socially, Economically, Politically in the global sphere. These two blocs were involved in a war which was known as The Cold War. It was a term associated with the period of tension between these two worlds on economic and political platform with their recourse to open up fire, this was just after the Second World war. These two worlds had colonies who were subjected to colonization and imperialism. And these colonies who had recently gained independence were passive players in the two world powers game. So the colonies took a stand of Non-Alignment with these two world powers. So they called for the Badung Conference in 1955.
The Badung Conference of 1955 hosted by Indonesia was the first large scale Afro-Asian conference held to discuss peace and the role of the third world in the Cold War, Economic Development and decolonization. They sought to attain political self-determination, mutual respect for sovereignty, non-interference with internal affairs, and equality. Most countries opposed the invitation of China to the Conference because they saw China as a Communist State and that China export the Communist ideologies to other nations. The Republic of China’s representative, Zhou Enlai, brought a Five-Principles of Peaceful Co-existence to serve as a basis for establishing a relationship of friendship, co-operation and good neighborliness.
2.
The UN, World Bank and other Bretton Woods Institutions developed many indicators for measuring Development and underdevelopment.
The World Bank assigned the world’s economies into four classifications, which are:
Low income 13,205
These classifications are based on the GNI per capita of the previous year written as let’s say July 1, 2022 for Fiscal year 2023 (FY23). It is an indicator that is closely correlated with non-monetary measures of the quality of life such as mortality rate, rate of enrollment in school.
The UN uses an Index called the Human Development Index(HDI) which measures a country’s average achievements in three basic dimensions such as:
Life Expectancy
Educational attainment
Adjusted Real income ($PPP/person).
3.
There are certain indices that outstandingly characterize the Developing Nations, and they are:
High Income Inequality
The disparity between income earners in the developing countries is higher than what obtains in the Developed countries.
Inequality is a critical factor in understanding the severity of poverty. As it is not just about income inequality but also encapsulates inequalities of power, status, prestige, job satisfaction, degree of participation and even freedom of choice. Inequality does not only result from distorted growth, which in this case is when a minute fraction of a population is considered when critical decisions that binds the entire nation are made. And since the interest of the poor majority are not captured, there tends to be distorted growth in such economy. And as such the rich minority keep enriching themselves at the expense of the poor majority, thus expanding the inequality gap. Nigeria as a case study, down to employment the rich still secure job positions by their influence, secure job promotions by their influence. High income inequality defy our democratic administration.
Inequality can as well necessitate distorted growth in the sense that as this rich minority experience growth on their part, because the growth is not experienced by a major fraction of the nation, the growth of the economy as a whole will be distorted. As the nature of their growth is not capable of having impact on the entire economy. But if where the poor majority were experiencing growth, such growth would spread and push up the entire economy.
Widespread Poverty
Smith, 1776 once said that, no society can surely be flourishing and happy of which by far greater part of the numbers are poor and miserable. Many in the developing nations are plagued with widespread poverty.
Now, poverty in a weak sense, is seen as when there is lack of food – hunger. However, poverty has a broader scope, in that it also captures powerlessness, dependency, lack of access to basic infrastructure, lack of access to education, poor health conditions, living in environmentally degraded area, trying to earn a living from marginal farms i.e. working as day laborers, have little or no socio-political voice. Putting aside the World Bank’s index for measuring Development, poverty is down right to our doorsteps, there are people who live in places that outsiders find difficult to access even to provide the basic infrastructure.
Substantial dependence on Agricultural production and primary-product exportation
Developing nations have only succeeded in discovering their natural resources and in exporting them in their raw or natural state without any improvements. The Northerners of this our country are majorly farmers food crops and cash crops like groundnuts, cowpea and sorghum but they are still of the poorest.
The situation of resource trap prevails in our society, whereby we have a lot of natural resources that are not efficiently explored. And this will require that our industries are functional. However they’re not, that is why we rely heavily on exporting our raw resources to import expensive Industrialized products. Indirectly we have been successful only in creating markets for the Industrialized countries at the expense of our own pioneer-companies. Having no sense of National Competitive Advantage, this is a degree to which developing nations are called third world countries.
Traditional, Rural and Social Infrastructures
Most of our infrastructure are unsophisticated and in states of decadence. Irregularities of power supply, unhealthy water, polluted environment, bad road networks, no good drainage systems to mention but a few. If they were in place, historians would have no audacity to give an accolade to Mungo Park for discovering River Niger when they were locals who lived around that area.
4.
“Poverty has a woman face” is a metaphorical statement to explain how the female gender are more affected by poverty than their male counterpart. This was coined by Dr. Diana Pearce a social worker, in 1978.
Poverty having a woman’s face implies that women in all societies feel the impact of poverty more than men in aspects of Economic, social, political, psychological situations.
Women do not have equal Economic opportunities with the men, and so it is held that they shouldn’t own fixed properties such as land, investments, insurance, houses and so on since they are under a man, their husband. Ownership of property should be written under a Man’s name. If this is held when there is economic prosperity, how much more when poverty prevails. Women are seen as housewives of no economic importance and as such no Economic empowerment is given to them which makes them suffer more on the face of poverty.
They are given limited access to Education. Education which is key for empowerment, for enlightenment is withheld from the female gender. How then, do they survive in periods of Economic hardships.
They are majorly faced with health and nutrition challenges. It was because a large cry went out against genital mutilation, if not a lot of societies would still practice this, as there are still some that do. Thus leaving the women in states of psychological trauma and misbalance.
In the aspect of political representation, women are seen to be ineffective, incapable of taking up leadership positions.
These are what necessitated the concept of “Poverty has a Woman’s face”.
1.)The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.
The obvious aim of this policy shift was to rebuild its economy and society that were devastated by the Cultural Revolution. The policy shift also appears to have been prompted by recognition that the incomes of ordinary Chinese were so low, in comparison with incomes in other Asian economies, that the future of the Chinese state and the communist regime would be in jeopardy unless something was done to raise living standards of its people through economic growth.
The government subsequently established a number of areas for foreign investment, including the special economic zones, open coastal cities, the economic and technology development zones, the delta open zones, the peninsula open zones, the open border citiees, and the high-tech industry development zones. The establishment of these zones provided the trigger for massive inflows of foreign investment, primarily from companies in Hong Kong and Taiwan. At the same time, China promoted its socialist market economy concept. The changes brought an entrepreneurial boom that resulted in the emergence of huge numbers of entrepreneurs and venture businesses within China.
2.) Three criteria are used to decide whether or not a country is a Low Developing Country(LDC): A measure for per capita income, a human assets index and an economic and environmental vulnerability index. Countries with less than $1,035 GNI per capita are classified as low income countries, those with between $1,036 and $4,085 as lower middle income countries, those with between $4,086 and $12,615 as upper middle income countries, and those with incomes of more than $12,615 as high income countries. At the end of 2021, there were 46 countries on the UN list.
3.) Major Characteristics of Developing Countries
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
4.) Yes, Women are at greater risk of poverty because they have relatively limited material assets and also more limited social assets (access to income, goods and services through social connections) and cultural assets (formal education and cultural knowledge).
EGWUONWU OLISAEMEKA ELOCHUKWU
2019/245027
ECONOMICS
ECO 361
DEVELOPMENT ECONOMICS
1) Classifying countries as First, Second, Third, and Fourth World was a concept created during and after the Cold War, which ran from approximately 1945 to the 1990s.
Third World” is an outdated and derogatory phrase that has been used historically to describe a class of economically developing nations. It is part of a four-part segmentation that was used to describe the world’s economies by economic status. Third World falls behind First World and Second World but was ahead of Fourth World, though Fourth-World countries were hardly recognized at all. Today, the preferred terminology is a developing nation, an underdeveloped country, or a low- and middle-income country.
In 1947, after gaining independence from Britain, India formed a centrally-planned economy (also known as a command economy). With a centrally planned economy, the government makes the majority of economic decisions regarding the manufacturing and the distribution of products.India is currently one of the fastest-growing economies in the world since 2000.It is also the world’s fifth-largest economy in nominal GDP terms.The government focused on developing its heavy industry sector, but this emphasis was eventually deemed unsustainable. In 1991, India began to loosen its economic restrictions and an increased level of liberalization led to growth in the country’s private sector. Today, India is considered a mixed economy: the private and public sectors co-exist and the country leverages international trade.
Prior to the initiation of economic reforms and trade liberalization nearly 40 years ago, China maintained policies that kept the economy very poor, stagnant, centrally controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free-market reforms in 1979, China has been among the world’s fastest-growing economies, with real annual gross domestic product (GDP) growth averaging 9.5% through 2018, a pace described by the World Bank as “the fastest sustained expansion by a major economy in history.” Such growth has enabled China, on average, to double its GDP every eight years and helped raise an estimated 800 million people out of poverty. China has become the world’s largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves. This in turn has made China a major commercial partner of the United States. China is the largest U.S. merchandise trading partner, biggest source of imports, and third-largest U.S. export market. China is also the largest foreign holder of U.S. Treasury securities, which help fund the federal debt and keep U.S. interest rates low.
2)
a) The Human Development Index (HDI) is a measurement system used by the United Nations to evaluate the level of individual human development in each country.
It was introduced by the U.N. in 1990. No
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 uses components such as average annual income and educational expectations to rank and compare countries.
The HDI has been criticized by social advocates for not representing a broad-enough measure of quality of life and by economists for providing little additional useful information beyond simpler measures of the economic standard of living.
(b) Infant mortality rate
Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.
(c)Literacy rate
The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
(d) High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.
(e) Life expectancy
This simple statistic can be used as an indicator of the:
(f) healthcare quality in a country or province
level of sanitation
provision of care for the elderly
It should not, of course, be used on its own to describe these things.
3)Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
4)
Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment,” said rapporteur Elisabeth Morin-Chartier (EPP, FR) in Monday’s debate marking International Women’s Day.
Parliament points out that cuts in education, childcare and care services have pushed women to work shorter hours or part-time, thereby reducing not only their income but their pensions as well.
Invest in women:
MEPs say that to restore growth and to reverse the effects of the crisis, member states must invest in lifelong training, re-skilling policies, teleworking and new jobs, promote female entrepreneurship and develop child-care facilities. They must also include women in decision-making and promote gender balance on company boards.
The resolution on the impact of the crisis on gender equality and women’s rights was passed by 495 votes to 96, with 69 abstentions.
Fighting gender stereotypes:
Gender stereotypes also contribute to the feminisation of poverty, say MEPs. They persist in the labour market in sectors such as engineering and childcare, leading to occupational segregation and the gender pay gap.
“Stereotypes and lower pay increase the risk for women to fall into poverty, particularly for older women, also due to low pensions,” said rapporteur Katrika Tamara Liotard (GUE/NGL, NL). She added: “the media can contribute to reducing female stereotypes.”
3). The idea of the Third World, which is usually traced to the late 1940s or early 1950s, was increasingly used to try and generate unity and support among an emergent group of nation-states whose governments were reluctant to take sides in the Cold War. These leaders and governments sought to displace the ‘East-West’ conflict with the ‘North-South’ conflict. The rise of Third Worldism in the 1950s and 1960s was closely connected to a range of national liberation projects and specific forms of regionalism in the erstwhile colonies of Asia and Africa, as well as the former mandates and new nation-states of the Middle East, and the ‘older’ nation-states of Latin America. Exponents of Third Worldism in this period linked it to national liberation and various forms of Pan-Asianism, Pan-Arabism, Pan-Africanism and Pan-Americanism. The weakening or demise of the first generation of Third Worldist regimes in the 1960s and 1970s coincided with or was followed by the emergence of a second generation of Third Worldist regimes that articulated a more radical, explicitly socialist, vision. A moderate form of Third Worldism also became significant at the United Nations in the 1970s: it was centred on the call for a New International Economic Order (NIEO). By the 1980s, however, Third Worldism had entered into a period of dramatic decline. With the end of the Cold War, some movements, governments and commentators have sought to reorient and revitalise the idea of a Third World, while others have argued that it has lost its relevance. This introductory article provides a critical overview of the history of Third Worldism, while clarifying both its constraints and its appeal. As a world-historical movement, Third Worldism (in both its first and second generation modalities) emerged out of the activities and ideas of anti-colonial nationalists and their efforts to mesh highly romanticised interpretations of pre-colonial traditions and cultures with the utopianism embodied by Marxism and socialism specifically, and ‘Western’ visions of modernisation and development more generally. ApThe idea of the Third World, which is usually traced to the late 1940s or early 1950s, was increasingly used to try and generate unity and support among an emergent group of nation-states whose governments were reluctant to take sides in the Cold War. These leaders and governments sought to displace the ‘East-West’ conflict with the ‘North-South’ conflict. The rise of Third Worldism in the 1950s and 1960s was closely connected to a range of national liberation projects and specific forms of regionalism in the erstwhile colonies of Asia and Africa, as well as the former mandates and new nation-states of the Middle East, and the ‘older’ nation-states of Latin America. Exponents of Third Worldism in this period linked it to national liberation and various forms of Pan-Asianism, Pan-Arabism, Pan-Africanism and Pan-Americanism. The weakening or demise of the first generation of Third Worldist regimes in the 1960s and 1970s coincided with or was followed by the emergence of a second generation of Third Worldist regimes that articulated a more radical, explicitly socialist, vision. A moderate form of Third Worldism also became significant at the United Nations in the 1970s: it was centred on the call for a New International Economic Order (NIEO). By the 1980s, however, Third Worldism had entered into a period of dramatic decline. With the end of the Cold War, some movements, governments and commentators have sought to reorient and revitalise the idea of a Third World, while others have argued that it has lost its relevance. As a world-historical movement, Third Worldism (in both its first and second generation modalities) emerged out of the activities and ideas of anti-colonial nationalists and their efforts to mesh highly romanticised interpretations of pre-colonial traditions and cultures with the utopianism embodied by Marxism and socialism specifically, and ‘Western’ visions of modernisation and development more generally.
Odo Lovelyn Chioma
2019/241246
Economics education
1.Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
China and India played a major role in promoting the political emergence of third world countries and in changing the relations between the third world and the industrial countries. China, with its communist system, and India, with its democratic socialist system, both provided alternative models for third world countries looking to develop their own political and economic systems. Both nations also played important roles in shaping the global conversation about the relationship between developed and developing nations, and worked to promote the interests of the third world on the international stage.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
The traditional method of defining developing countries is by their Gross National Income (GNI) per capita per year. However, other organizations such as the United Nations and World Bank have developed more comprehensive criteria and indicators for measuring development and underdevelopment. These criteria may include factors such as poverty, education levels, healthcare, infrastructure, and economic growth. Additionally, organizations such as the United Nations Development Programme (UNDP) have developed the Human Development Index (HDI) which uses a combination of indicators such as life expectancy, education and standard of living to measure a country’s development status.
3.Clearly discuss and analyse the Common Characteristics of Developing Nations
The countries in which the process of developmenthas started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Here we will discuss the different characteristics of developing countries of the world.
Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
The common characteristics of developing nations are briefly explained below.
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
4.It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Poverty has a female face and the global economic downturn will have a significant impact on women as more of them lose jobs and are forced to manage shrinking household incomes,” Ezekwesili said May 8 at the “Women and the Changing Global Outlook” conference organized by the British Embassy in Washington, and the National Geographic Society.
“The face of poverty is female,” she said, sketching the portrait of the typical poor African youth.
“She is 18.5 years old. She lives in a rural area. She has dropped out of school. She is single, but is about to be married or be given in marriage to a man approximately twice her age. She will be the mother of six or seven kids in another 20 years,” said Ezekwesili, citing the findings of the latest edition of the annual World Bank publication, Africa Development Indicators (ADI).
The Global Crisis and its Impact on Women and Girls
The global economic crisis, Ezekwesili explained, is likely to hit African women on two fronts. First, it will arrest capital accumulation by women, and second, it will drastically reduce women’s individual incomes as well as the budgets they manage on behalf of households. This would have damaging consequences notably on the girl child.
With the education of boys largely sheltered from shocks and parents often more likely to pull out a girl from school than a boy when tuition becomes hard to find, the World Bank Vice President cited research findings on household income declines in Uganda and a fall in income from agriculture in Madagascar where girls were first to be pulled out of schools.
The World Bank has warned that an additional 700,000 African infants are likely to die before their first birthday as a result of the crisis. The girl child will be hit hardest. Research has shown that “girls are five times more likely to be impacted by increases in infant mortality rate than boys.”
Unlike in rich countries such as the United States, where more men have tended to lose their jobs compared to women, the crisis in Africa is leaving women with ever fewer job choices. In many export-oriented industries – for example, the cut-flower industry in Ethiopia, Kenya and Uganda and the textile industry in Kenya and Lesotho – it is women, not men, across Africa who are bleeding jobs because of the crisis.
Declining remittances and a tightening of micro-finance lending would further restrict the funds available to women to run their households.
Gender-focused Development Initiatives
Conference participants reached consensus that development and poverty alleviation strategies that fail to target girls and women have little to no chance of success in Africa.
Ms. Ezekwesili drew attention to the Gender Entrepreneurship Markets (GEM) initiative launched by the Bank’s private sector arm, the International Finance Corporation (IFC), to enhance women’s access to finance and address gender barriers to the business environment. The $50 million GEM has benefited over 1,500 women in 18 sub-Saharan African countries and will be enhanced by a recent $120 million loan program that the IFC signed with EcoBank to benefit businesswomen in five countries.
In addition, the Bank has adopted a Gender Action Plan and launched an $11 million, three-year Adolescent Girls Initiative to train, mentor, empower and facilitate the transition of young African women to work in Liberia, Southern Sudan and Rwanda. In addition, 83 Bank-funded projects totaling $4.4 billion have female economic empowerment components; the majority of them (33) in agriculture, education (34), infrastructure (11) and private sector development (5).
Other speakers at the conference struck similar chords.
Speaking on behalf of the British ambassador to Washington, Sir Nigel Sheinwald, the deputy head of mission, Dominick Chilcott, stressed the link between women’s empowerment and development. The road to sustainable development, he said, is only attainable if it is built on a gender inclusive agenda.
“We must take the opportunities presented by the crisis to innovate and invest in women, whether it is proposals to introduce better social programs, finding ways of integrating women into the labor force, or reducing discrimination in financial markets,” he said, citing remarks by Sheinwald.
In a video message, Ms. Sarah Brown, the spouse of British Prime Minister Gordon Brown, spoke of the need for world leaders to tackle “the many injustices that remain” against women.
Ambassador Melanne Verveer, U.S. President Barack Obama’s Ambassador-at-Large for Global Women’s Issues at the State Department, urged development agencies to “think women”.
“You cannot beat poverty without putting women at the center of your development strategies,” she said.
“Women’s equality is not just the right thing to do, it is also smart economics,” she added, paraphrasing the World Bank. She pointed out that women were key to food security and agriculture; essential players in the promotion of the rights of the child; major actors in health care provision; yet continued to suffer discrimination in powerful board rooms; and on higher rungs of corporate ladders.
however, I agree that poverty has the face of a woman and we have seen this in many of our communities. Both man and women have the responsibility to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and fierce figure who you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
ODO LOVELYN CHIOMA
2019/241246
Economics Education
1.Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
China and India played a major role in promoting the political emergence of third world countries and in changing the relations between the third world and the industrial countries. China, with its communist system, and India, with its democratic socialist system, both provided alternative models for third world countries looking to develop their own political and economic systems. Both nations also played important roles in shaping the global conversation about the relationship between developed and developing nations, and worked to promote the interests of the third world on the international stage.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
The traditional method of defining developing countries is by their Gross National Income (GNI) per capita per year. However, other organizations such as the United Nations and World Bank have developed more comprehensive criteria and indicators for measuring development and underdevelopment. These criteria may include factors such as poverty, education levels, healthcare, infrastructure, and economic growth. Additionally, organizations such as the United Nations Development Programme (UNDP) have developed the Human Development Index (HDI) which uses a combination of indicators such as life expectancy, education and standard of living to measure a country’s development status.
3.Clearly discuss and analyse the Common Characteristics of Developing Nations
The countries in which the process of developmenthas started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Here we will discuss the different characteristics of developing countries of the world.
Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
The common characteristics of developing nations are briefly explained below.
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
4.It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Poverty has a female face and the global economic downturn will have a significant impact on women as more of them lose jobs and are forced to manage shrinking household incomes,” Ezekwesili said May 8 at the “Women and the Changing Global Outlook” conference organized by the British Embassy in Washington, and the National Geographic Society.
“The face of poverty is female,” she said, sketching the portrait of the typical poor African youth.
“She is 18.5 years old. She lives in a rural area. She has dropped out of school. She is single, but is about to be married or be given in marriage to a man approximately twice her age. She will be the mother of six or seven kids in another 20 years,” said Ezekwesili, citing the findings of the latest edition of the annual World Bank publication, Africa Development Indicators (ADI).
The Global Crisis and its Impact on Women and Girls
The global economic crisis, Ezekwesili explained, is likely to hit African women on two fronts. First, it will arrest capital accumulation by women, and second, it will drastically reduce women’s individual incomes as well as the budgets they manage on behalf of households. This would have damaging consequences notably on the girl child.
With the education of boys largely sheltered from shocks and parents often more likely to pull out a girl from school than a boy when tuition becomes hard to find, the World Bank Vice President cited research findings on household income declines in Uganda and a fall in income from agriculture in Madagascar where girls were first to be pulled out of schools.
The World Bank has warned that an additional 700,000 African infants are likely to die before their first birthday as a result of the crisis. The girl child will be hit hardest. Research has shown that “girls are five times more likely to be impacted by increases in infant mortality rate than boys.”
Unlike in rich countries such as the United States, where more men have tended to lose their jobs compared to women, the crisis in Africa is leaving women with ever fewer job choices. In many export-oriented industries – for example, the cut-flower industry in Ethiopia, Kenya and Uganda and the textile industry in Kenya and Lesotho – it is women, not men, across Africa who are bleeding jobs because of the crisis.
Declining remittances and a tightening of micro-finance lending would further restrict the funds available to women to run their households.
Gender-focused Development Initiatives
Conference participants reached consensus that development and poverty alleviation strategies that fail to target girls and women have little to no chance of success in Africa.
Ms. Ezekwesili drew attention to the Gender Entrepreneurship Markets (GEM) initiative launched by the Bank’s private sector arm, the International Finance Corporation (IFC), to enhance women’s access to finance and address gender barriers to the business environment. The $50 million GEM has benefited over 1,500 women in 18 sub-Saharan African countries and will be enhanced by a recent $120 million loan program that the IFC signed with EcoBank to benefit businesswomen in five countries.
In addition, the Bank has adopted a Gender Action Plan and launched an $11 million, three-year Adolescent Girls Initiative to train, mentor, empower and facilitate the transition of young African women to work in Liberia, Southern Sudan and Rwanda. In addition, 83 Bank-funded projects totaling $4.4 billion have female economic empowerment components; the majority of them (33) in agriculture, education (34), infrastructure (11) and private sector development (5).
Other speakers at the conference struck similar chords.
Speaking on behalf of the British ambassador to Washington, Sir Nigel Sheinwald, the deputy head of mission, Dominick Chilcott, stressed the link between women’s empowerment and development. The road to sustainable development, he said, is only attainable if it is built on a gender inclusive agenda.
“We must take the opportunities presented by the crisis to innovate and invest in women, whether it is proposals to introduce better social programs, finding ways of integrating women into the labor force, or reducing discrimination in financial markets,” he said, citing remarks by Sheinwald.
In a video message, Ms. Sarah Brown, the spouse of British Prime Minister Gordon Brown, spoke of the need for world leaders to tackle “the many injustices that remain” against women.
Ambassador Melanne Verveer, U.S. President Barack Obama’s Ambassador-at-Large for Global Women’s Issues at the State Department, urged development agencies to “think women”.
“You cannot beat poverty without putting women at the center of your development strategies,” she said.
“Women’s equality is not just the right thing to do, it is also smart economics,” she added, paraphrasing the World Bank. She pointed out that women were key to food security and agriculture; essential players in the promotion of the rights of the child; major actors in health care provision; yet continued to suffer discrimination in powerful board rooms; and on higher rungs of corporate ladders.
however, I agree that poverty has the face of a woman and we have seen this in many of our communities. Both man and women have the responsibility to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and fierce figure who you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
Ugwu somto Emmanuel
Combined social science
Economics/philosophy
2019/245096
1. The rise of China and India as major world powers promises to test the established global order in the coming decades. As the two powers grow, they are bound to change the current international system—with profound implications for themselves, the United States, and the world. And whether they agree on the changes to be made, especially when it comes to their relationship with the West, will influence the system’s future character. A close examination of Chinese and Indian perspectives on the fundamentals of the emerging international order reveals that Sino-Indian differences on many issues of both bilateral and global significance are stark.
KEY POINTS
China and India’s sustained economic growth fuels their increasing geopolitical and military influence.
Despite their developmental similarities, China and India’s bilateral strategic rivalry means that they have competing priorities on most major global issues.
Sino-Indian differences are considerable on issues relating to the nonproliferation system, Asian security, regional stability in Southern Asia, and security in the maritime commons, space, and cyberspace. The two rising powers broadly agree on matters relating to the international economic system, energy security, and the environment.
Because of its ongoing shift to the Asia-Pacific and status as the only global superpower, the United States must manage a complex set of relationships with China and India, which are at times working at cross-purposes.
CHINESE AND INDIAN POSITIONS ON INTERNATIONAL ISSUES
Global Order: China and India tend to agree on the importance of state sovereignty and the need to reform global governance institutions to reflect the new balance of power. They also share a strong commitment to the open economic order that has allowed both powers to flourish in the global marketplace. But the two diverge on many details of the international system, such as the future viability of the Non-Proliferation Treaty and the role of state-owned enterprises in fostering globalization.
Regional Security: Both China and India want a stable Asia-Pacific that will allow them to sustain their economic prosperity, but they perceive threats very differently and have divergent priorities. Importantly, India seeks a resolute American presence in the region to hedge against possible Chinese excesses, while China sees the United States as significantly complicating its pursuit of its regional goals and worries about American containment attempts.
Security in the Global Commons: Beijing and New Delhi rely heavily on open sea lines of communication, and as a result, they both support the current maritime security regime. However, their interpretations as to its provisions have occasionally diverged. In space, China enjoys significant advantages over India and has emphasized the military dimensions of its program, while New Delhi has only recently begun developing space-based military technology. Both countries are just beginning to wrestle with the difficult task of forming cybersecurity policies, but they have already acted to limit objectionable or illegal activities online. In striking the balance between online freedom and social stability, India has encountered a higher degree of opprobrium in the public sphere than its counterpart.
Nontraditional Security: Chinese and Indian approaches to both energy and the environment broadly converge. Because India and China face a rising domestic demand for energy, they heavily rely on foreign suppliers of energy resources. This has prompted both governments to seek more efficient power sources and to secure their presence in overseas energy markets. On environmental policy, the two countries focus on primarily local and short-term concerns that must be balanced with the need for economic growth.
2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.
Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.
Measuring economic activity in a country or region provides insights into the economic well-being of its residents.
Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.
Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.
3 . LOW LEVELS OF LIVING : Low productivity coupled with high rate of population growth and unemployment ruduces the standard of living of living in developing countries.
LOW LEVEL OF PRODUCTIVITY : Developing countries usually engage in subsistence production which is characterized by the use of crude implements which result in low productivity. They largely depend on single export product for their foreign exchange earning.
HIGH AND RAPID POPULATION GROWTH : There is high rate of population growth in developing countries while food production is not growing at the same rate. People suffer from malnutrition and diseases resulting in increase in death rate.
HIGH RATE OF UNEMPLOYMENT : Factors of production are not fully utilized in developing countries. Many factors are lying idle or are underemployed. This accounts for low productivity.
HIGH DEPENDENCY RATIO : Due to high level of unemployment, the large percentages of the population who are unemployed depend on the few working population for their living,thus reducing the standard of living.
LOW PER CAPITA INCOME : Low productivity results in low national income which leads to low per capita income. This will result in low standard of living.
LOW LEVEL OF TECHNOLOGICAL DEVELOPMENT : Modern techniques of production are not yet adopted in developing countries. Most production especially in agriculture is carried out with the use of crude implements. This also accounts for low productivity.
4 . No doubt poverty remains a global challenge; the world bank estimates that 1.29 billion people live in absolute poverty and the sad fact is that 70% of them are women.
This is as a result of many factors like the triple burden of child bearing, child rearing, domestic unpaid labour, lack of proper education, denial of growth opportunities, inadequate health care and simultaneously forced to live in the tight bind of culture and tradition.
These characteristics and more points out that women constitute a majority of the poor and are often the poorest of the poor. These and more brought about the phrase ‘ poverty has the face of a woman”.
YES I AGREE
I agree to the motion that poverty has the face of a woman with these following reason;
Their poverty is multidimensional; not only of lack of income but also of nutrition and health, they are denied education (The end product of a woman is in the kitchen) and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindset permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many. The risk of poverty grow in parallel with the number of women headed households. It’s no surprise that women are over represented among the poorest; discrimination against them occur in many level: health care, education. Unsurprisingly few poor women have hope escaping this poverty as they’re so many odds stacked against them. Despite laws that favor them, even richer women are regularly denied inheritances and more.
Eco 391
1.Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist
China has a mixed socialist market economy that incorporates economic planning through industrial policies.
India has a mixed economy,the economy of India has transitioned from a mixed planned economy to mixed income developing social market economy.
The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.
The obvious aim of this policy shift was to rebuild its economy and society that were devastated by the Cultural Revolution. The policy shift also appears to have been prompted by recognition that the incomes of ordinary Chinese were so low, in comparison with incomes in other Asian economies, that the future of the Chinese state and the communist regime would be in jeopardy unless something was done to raise living standards of its people through economic growth.
The government subsequently established a number of areas for foreign investment, including the special economic zones, open coastal cities, the economic and technology development zones, the delta open zones, the peninsula open zones, the open border citiees, and the high-tech industry development zones. The establishment of these zones provided the trigger for massive inflows of foreign investment, primarily from companies in Hong Kong and Taiwan. At the same time, China promoted its socialist market economy concept. The changes brought an entrepreneurial boom that resulted in the emergence of huge numbers of entrepreneurs and venture businesses within China.
Inflows of foreign capital, technology, and management knowhow enabled China to turn its vast labor resources and space to rapid economic growth. The shift to an open-door economic policy ushered in a period of high economic growth in the first half of the 1980s. The economy stagnated around the time of the Tiananmen Square Incident in 1989, but in the first half of the 1990s, China was again boasting high growth rates. Rapid economic growth was accompanied by a rise in per capita GDP (Fig. 1). In 1998, per capita income, though still only about US$770, was 14 times higher than in 1980. Therefore, it seems reasonable to conclude that Deng Xiaoping’s first goal, which was to improve the economic status of the people, has been accomplished.
The positive consequences of the reform and open-door policy have been economic development and rising national incomes. Naturally, there have also been negative effects, and these have become increasingly obvious over the years. The problems outlined below are closely linked to the living standards of people in China.
there is now regional disparities in income levels, and the gap between rich and poor is now extremely wide. Under the socialist controlled economy, living standards were relatively low, but there was no big gap between rich and poor. The idea, taken from the writings of Mencius, that inequality is more lamentable than poverty, has applied throughout society. With the shift to the open-door policy, however, Deng Xiaoping indicated that it was acceptable for some regions to become wealthy before others. The result was a huge wealth disparity between coastal and inland regions, and between the cities and rural areas.
The existence of this income disparity under a socialist regime is inevitably causing a variety of alarming social phenomena. Worship of money has spread among the people. Huge numbers of rural people have flooded into the cities in search of higher incomes, leaving many rural communities deserted and exposing China to the danger of future food shortages. There has been a breakdown of law and order in the cities, and corruption is rife among party officials and government bureaucrats. Government organizations are involved in tax evasion and smuggling, wwhile army, police, and court are operating businesses on the side. None of these phenomena are compatible with a socialist system, and they are indicative of inner contradiction in the political system.
China has maintained a one-party socialist dictatorship on the political level, while moving to a market system on the economic level. This conflict has exposed inadequacies in the legal system, and with each passing year, it has become increasingly apparent that there is no system of checks to prevent the arbitrary exercise of power by the Communist Party. The government has accelerated the shift to a market economic system, but it has so far failed to provide a clear definition of what is meant by a “socialist market economy.” For this reason, Party and government agencies no longer function as monitors and arbiters of the market. Instead, these agencies have been given leeway to participate in business activities as direct players in the market. This situation has led them to involve in monopolistic trading and insider trading. The accepted wisdom among modern Chinese is that “those in authority (quan) will be able to acquire money (qian).”
An extreme example of this problem relates to the export rebate system for value-added taxes. Since its implementation in 1994, the rebate rates have been lowered frequently, and the range of prices covered by the tax has also been changed. The fundamental reason for this is the fact that export rebates were greater than the amount of revenue generated by the value-added tax. Behind the scenes, exporters, customs officials, tax officials, and central and regional Party officials were conspiring to obtain massive rebates by means of fraudulent export documents.
The economic development gap between coastal cities and other regions has engendered a sense of grievance on the part of regional government officials, who have misappropriated government money to create hastily planned development zones in an attempt to attract foreign investment. The resulting shortage of public money has frequently meant that residents have not received payments to which they were entitled.
According to a Chinese newspaper, 158,000 senior Communist Party officials were punished for violating the Chinese Communist Party Constitution in 1998. Public prosecutors are currently investigating 35,000 cases of corruption involving 1,820 government agency officials with ranks of section manager or above. Still, those prosecuted represent only a small minority of the total number of people engaged in corrupt activities.
China is frequently criticized for delays in updating its legal system. Despite the enactment of numerous new laws, in step with the open-door policy, China has still not established the rule of law. The collapse of the Guangdong International Trust and Investment Corporation (GITIC) in October 1998 had focused attention on the proliferation of trust and investment companies and their financial problems. At the height of the boom in the 1980s, there were almost 1,000 of these companies. Yet, China has still not established a trust and investment company law.
The declining competitiveness of the state-owned enterprises, which are the actual and ideological pillars of the socialist economy, is a problem with serious implications for China’s economic and industrial structures. In essence, the state-owned enterprises were social microcosms created to feed the people and realize the ideals of socialism.
However, China began to move toward a market economic system under the reform and open-door policy. One result was an influx of foreign companies with resources that made them powerful competitors in the international marketplace. The changes also triggered an upsurge of entrepreneurial activity within China. Private and individual enterprises staked their survival on business efforts that enhanced their competitiveness. Meanwhile, the state-owned enterprises were unable to modify their corporate cultures that had evolved in China’s controlled economy. In the face of this onslaught, many lost their advantage in such areas as manufacturing production, domestic sales channels, and exports.
Inextricably linked to this problem is the state of the financial system. China’s main financial institutions are state-owned banks. Under the controlled economy, state-owned banks tended to see lending to state-owned enterprises as a mechanism for distributing fiscal funds. The state-owned enterprises that received these loans similarly regarded them less as loans than as allocations of public money.
When the economy was opened up, however, there was a massive inflow of foreign investment. The government was forced to establish financial policies and exercise macro-level controls, while state-owned banks were required to provide support to leading enterprises under the government’s financial policies, and to improve their credit assessment capabilities. Unfortunately, credit assessment capabilities of state-owned banks have not been developed, and there was a tendency to provide continuing credit to state-owned enterprises in an environment influenced by guidance or interference from the Communist Party and the government. Now that state-owned enterprises are experiencing financial problems, state-owned banks are inevitably being left with a growing mountain of non-performing loans. Most state-owned enterprises are in need of reform, and urgent steps are needed to reform a financial system that is still based on state-owned banks.
The U.N criteria and indicator for measuring development provides broad measures of well-being worldwide. There are three data dimensions: life expectancy, education, and purchasing power parity.
In addition to the main Index, the UNDP issues three supplementary resources:
Inequality-adjusted HDI
Gender Inequality Index
Multidimensional Poverty Index.
The world development indicators includes
The Agriculture and rural development
Aid Effectiveness
Climate Change
Economic policy & external debt
Education.
The Bretton woods institution led to the establishment of three global institution,the World Bank, international monetary fund and the World Trade Organization to ensure exchange rate stability,prevent competitive devaluation and promote economic growth.
3)Clearly discuss and explain the characteristics of developing countries.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
The common characteristics of developing nations are briefly explained below.
Major Characteristics of Developing Countries
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore. In a summary, the major characteristics of developing countries are presented in the following table.
4)It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement.Do you agree or disagree? If yes, why? If you no?
Yes,I agree,women are easily affected by poverty .Women easily reacts to emotions and situations around them.
Firstly,Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship.
“Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment,” said rapporteur Elisabeth Morin-Chartier (EPP, FR) in Monday’s debate marking International Women’s Day.
Parliament points out that cuts in education, childcare and care services have pushed women to work shorter hours or part-time, thereby reducing not only their income but their pensions as well.
Women, especially women of color, in the United States are more likely to live in poverty than men, and they need robust, targeted solutions to ensure their long-term economic security.
In conclusion,I would like to say that the government should invest in women and try to fight gender stereotypes too.
UNIVERSITY OF NIGERIA, NSUKKA
FACULTY OF SOCIAL SCIENCES
DEPARTMENT OF ECONOMICS
AN ASSIGNMENT SUBMITTED IN PARTIAL FULFILLMENT FOR THE REQUIREMENT OF THE COURSE: DEVELOPING COUNTRY ISSUES (ECO 361)
BY
UCHEAMA CALISTA NGOZI
2019/243039
QUESTIONS:
TWO NATIONS WHOSE SOCIAL AND ECONOMIC SYSTEMS WERE SHARPLY OPPOSED – CHINA AND INDIA – PLAYED A MAJOR ROLE IN PROMOTING THE POLITICAL EMERGENCE OF THE THIRD WORLD COUNTRIES AND IN CHANGING THE RELATION BETWEEN THE THIRD AND THE INDUSTRIAL COUNTRIES, CAPITALIST AND COMMUNIST.
TRADITIONALLY, DEVELOP COUNTRIES ARE DEFINED ACCORDING TO THEIR GROSS NATIONAL INCOME (GNI) PER CAPITA PER YEAR. HOWEVER, THE UNITED NATIONS, WORLD BANK AND OTHER BRETTON WOODS INSTITUTIONS HAVE DEVELOPED MANY OTHER CRITERIA AND INDICATORS FOR MEASURING DEVELOPMENT AND UNDERDEVELOPMENT
CLEARLY DISCUSS AND ANALYZE THE COMMON CHARACTERISTICS OF DEVELOPING NATIONS
IT HAS BEEN ARGUED THAT POVERTY HAS THE FACE OF A WOMAN. AS A BUDDING ECONOMIST, CLEARLY DISCUSS AND ANALYZE THIS STATEMENT. DO YOU AGREE OR DISAGREE? IF YES, WHY? IF YOU NO?
LECTURER: DR. TONY ORJI
JANUARY, 2023
NO. 1
The East-West conflict which decisively influenced the postwar international scene is being shifted to the Third World. The ideological background of the relationship between communist and developing countries reflects the pluralism in the international communist movement. Soviet-oriented communists consider the dispute between the “socialist” and “capitalist” world systems as main feature of our present epoque. In this dispute the “socialist” system – according to their version – draws support from three sources:
the communist states,
the communist parties in Western industrial countries and
the national revolutionary liberation movements in developing countries.
In this theory there is no room for any “third force” in between the “socialist” and “capitalist” systems.
India and China are two of the oldest and still extant civilizations. For Europeans, they were legendary seats of immense wealth and wisdom right up to the eighteenth century. Somewhere between the mid-eighteenth century and early nineteenth centuries, both these countries became, in the European eyes, bywords for stagnant, archaic, weak nations. For China, this happened between the adulation of Voltaire and the cooler judgment of Montesquieu; in India’s case, it was the contrast between Sir William Jones’s desire to learn things Indian and James Mill’s dismissal of Indian history as nothing but darkness. Twentieth century brought nothing but a deepening of the perception of the two countries as bywords for misery and the perceptions were not too far behind actual conditions of the two countries. For one thing they were and remain the two most populous countries. In 1820, they had a combined population in excess of half a billion and by 1900, 700 million. Within the twentieth century, their population had trebled. But they were also two of the poorest countries, typically thought of as locations of famine, disease, backwardness and superstition, of women with bound feet and men with long pony tails, untouchables beyond the pale and myriads of gods with many heads and limbs.
In mid-twentieth century, particularly in the 1960’s, the fortunes of these two countries seemed to have reached their nadir. They were independent republics supposedly launched on their path of development, but both suffered devastating famines. China’s famine was hidden, perhaps more from China’s own ruling classes than from its people or the world, but it had followed swiftly upon the debacle of Great Leap Forward, a memorable piece of policy making by fantasy. India’s double harvest failure in 1965 and 1966 brought India to its proverbial knees in terms of foreign policy and dependence on US food aid. These two countries were “basket cases“ in the then fashionable terms of international diplomacy. Within the following forty years we are discussing China and India not as failures nor for their ancient wisdoms, but as dynamic modern economies. The Economist has to write editorials to tell the world not to be afraid of China’s economic power. American legislators pass laws to prevent their businesses outsourcing work to India’s software and telecommunication services. China ranks as the second largest economy in terms of GDP in PPP dollars. Together the two countries account for 19.2 % of world GDP- China 11.5% and India 7.7%. This is still below their share of world population 37.5%- with China 21% and India 16.5%.
There are also political similarities and contrasts between the two both as to their 20th century history and 21st century challenges which include:
Political: While both India and China have a long history, their histories are very different. China has been by and large a stable, centrally run state through its history with limited periods of instability and lack of a single authority. India’s history has been exactly the reverse. The periods when a single King or political authority ruled over even the major part of India’s territory can be counted on fingers of one hand. In China’s case there was a deep desire for unification of the country as a driving force of nationalism in the 20th century. But it was called reunification. Thus at the onset of World War II, China was divided and Jonathan Spence expresses the drive for nationalists as follows “The solidification of such a group of new states [ i.e. war lords, KMT, communists and Japanese enclaves ] would return China to the situation that had prevailed before the Qin conquests of 221 B.C., during the so-called Warring States period when ten major regimes controlled the country among them; or it might bring a recurrence of the shifting patterns of authority and alliances that typified China’s history from the third to sixth century A.D., and again from tenth to the thirteenth.” [Spence (1999) p.426]
In India’s case there never was any authority which has ruled over all of India; indeed not even the British or even the present Indian government. India has been an idea in world culture for millennia, but its borders have been fixed only in the late 19th century sometime after the British gave up on Afghanistan and drew the Durand line. Kings have ruled over much of North India- the Maurya and Gupta dynasties just before and after the BC/AD division. The Mughals could be said to have ruled over much of India between the years of Akbar’s maturity in 1570 and Aurangzeb’s death in 1707. Their empire extended to Kabul but did not take in all of South India. The British could be said to have ruled over two thirds of India between 1857 and 1947, with the remaining third with native princes under their paramountcy but not direct rule. In 1947 India was partitioned and thus even what is now called India is not what Nehru in 1946 wrote about in his The Discovery of India. [Nehru (1946)]
Economic: Both India and China were a highly urban civilization by the 18th century, though of course the bulk of the population lived in rural areas.. China was much advanced in science and technology, with gunpowder, printing, paper and paper currency as its inventions. China’s scientific and technological achievements are known to us thanks to the monumental efforts of Joseph Needham [Needham (1954- )]. India was known for its mathematics and its philosophy. The Chinese gave the world the wheelbarrow and bureaucracy; India gave the world the zero, decimals and Buddhism. Both were major exporters of fine textiles, silks and muslins; their ships sailed around the world and indeed dominated the seas till 1500. After that the Chinese withdrew from the seas and while the Indians continued, the powers that be in Delhi or Agra had no need for a navy. It was the kingdoms in South India which were maritime adventurers. As they declined in power under the Mughals, Indian shipping began to be conducted increasingly on a private basis rather than a state sponsored one. The control of the seas passed to a series of Western European countries. Yet the two countries remained economically vibrant till the late 18th century.
Development Paths: Differences between the two appear much greater from the vantage point of 2003 than they would have in 1973 or even 1983. Each has gone through two broad phases. I would characterize them as;
Taking Nationalist Ideas Seriously, Making Mistakes and Learning From Them: Both countries feared foreign domination and considered development as synonymous with industrialisation. Both considered the State as the engine and the driver of growth and suspected the private sector’s initiatives. The ideology forged during the long march to independence – Marxism- Leninism- Maoism in China and Gandhism, plus an amalgam of Social and liberal Democracy in India shaped the response more than economic realities warranted. One Man ruled the roost though his closest associates did not share his beliefs as much as they said while he was still around. Mao for China and Nehru for India laid down the path from which each country had to deviate, if only because the path led to a blind alley.For China the first period lasted from 1949 to 1978; for India from 1947 to 1980. China learned quickly thanks to Deng Xiao Ping. India did not have a Deng. Blood proved much thicker than pragmatism in matters of economic ideology. India began a half hearted change in 1980 when Mrs Gandhi abandoned self sufficiency as an ideal and took a big loan from the IMF. But that loan and subsequent hard currency borrowing were frittered away. India could be said to have wasted ten years in a half hearted liberalization which hit the buffers in 1991 when the country nearly went bankrupt.
Living in The Modern World and Adapting to it: In the second phase each country forgot the lessons it had thought it had learned from its history- xenophobia, fear of foreign trade and foreign capital, distrust of private initiative and decentralization. Each adapted to the rhythm of the world economy rather than sail against the wind. Being large vessels, they have a bit more freedom of manouevre than small countries. They misused the freedom in the first phase and corrected themselves in the second phase. Their comparators would be two smaller countries both with colonial past- South Korea and Taiwan who did not go through a two phase path. After 1960, South Korea single mindedly pursued growth with spectacular results. Taiwan had a similar colonial background to Korea’s but it also had the influx of the Guomindang elite which transformed property rights in Taiwan and achieved what it could not on mainland- a successful growth strategy. The comparison between the two pairs of countries is revealing. In 1950 China and India had per capita incomes of M$439 and M$619 while South Korea and Taiwan had M$770 and M$936. By 1999, the numbers were China –M$3259, India M$1818, South Korea
Conclusion:
My own view is that India will remain a soft state, a consensual polity, and it will not be capable of sustained growth at the sort of rates which China has attained. To stay a stable peaceful society, India has to be a muddle and a mess. It is a miracle that proceeding in the way it has done, it has come as far as it has done, trebling its per capita income. But there will not be growth convergence between China and India [except unless China has a long breakdown in its transition to democracy]. India and China will both remove poverty in their midst and cease to be bywords for misery that they became for a hundred and fifty years after 1820. China will again become a viable Great Power; India may become just a Great Democracy.
NO. 2
The World Development Indicators (WDI) is produced by the Development Data Group, and in collaboration with the Bank’s regions and Global Practices, as well as external partners. The database is a compilation of relevant, high-quality, and internationally comparable statistics about global development and the fight against poverty. The WDI helps all users – analysts, policymakers, students, academics, fund and program managers, and all those curious about the state of the world – to find data related to all aspects of development, both historically and at the present time, and to follow trends and monitor progress towards a large number of goals and targets. The online database includes 1,600 indicators, for 217 economies, with some data series extending back more than 50 years. WDI is currently organized according to six main thematic areas:
Poverty and Inequality: Indicators that measure the incidence and depth of poverty according to national and international definitions, as well the economic inequalities in income and wealth that exist both within and across countries and regions.
People: Indicators on a range of topics that together build a portrait of societal progress across the world. They cover education, health, nutrition, mortality, and, jobs and unemployment, social protection, demographics, migration, and gender.
Environment: Indicators on the use of natural resources, such as water and energy, and various measures of environmental degradation, including pollution, deforestation, and loss of habitat. Together these indicators help assess the extent of climate change and the human impact on the planet.
Economy: Indicators for national accounts, including GDP, GNI, value added, and capital formation, as well as balance of payments, finance, consumption, and adjusted net savings among others, help us to measure the structure and growth of the world’s economies.
States and Markets: Indicators on private investment, the public sector, financial systems, communication and transport infrastructure, science and technology, provide a picture of different business climates around the world, the functioning of governments, and the spread of new technologies.
Global Links: Indicators on the size and direction of economic flows and linkages, such as trade, remittances, equity, and debt, as well as tourism and migration, provide an overview of the processes, structures, and partnerships that allow economies to flourish.
NO. 3
Development is a concept that is difficult to define; it is inevitable that it will also be challenging to construct development taxonomy. Countries are placed into groups to try to better understand their social and economic outcomes. The most widely accepted criterion is labeling countries as either developed or developing countries. Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop. The countries in which the process of development has started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing countries are those nations of the world, which have lower per capita income as compared to developed countries like the USA, Germany, China, Japan etc. hence, the common characteristics of developing nations are briefly explained below:
1. Low Per Capita Real Income: The real per capita income of developing nations is very low as compared to developed countries. This means the average income or person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing nations results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped or developing nations.
2. Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty, so poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment and lack of other socio-economic participation and access apart from low per capita income.
3. Rapid Population Growth: developing nations have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing nations. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education and belief that additional kids mean additional labour force and additional labour force means additional income and wealth, etc, also stimulate people in developing nations to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
4. The problem of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such nations.
5. Excessive Dependency on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the Gross Domestic Product in poor nations.
6. Technological Backwardness: The development of a nation is a positive and increasing function of innovative technology. Technological use in developing nations is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ration, high labour-output ratio and low-wage rates, the input productivity is low and that reduces the gross domestic product of the nations, illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
7. Dualistic Economy: Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing nations are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sector of the economy.
8. Lack of Infrastructures: infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads etc is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
9. Lower Productivity: In developing nations, the productivity of factors is also low. This is due to lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc are factors that are attributed to lower productivity in developing nations.
10. High Consumption and Low Saving: In developing nations, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately, these nations will depend on foreign aid, loans and remittance earnings, that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing nations. Apart from explain points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc, are also major characteristics of developing nations of the world. These nations are affected more severely by the economic crisis derived from the coronavirus of 2020. So challenges to development for developing nations have been added furthermore.
NO. 4
Women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents. Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men. Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income-earning opportunities.
Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty. A focus on poor women as distinct from men in efforts to reduce poverty is justified because women’s paid and unpaid work is crucial for the survival of poor households. Poverty and gender are concepts that have historically been treated in a fairly independent fashion, which explains the specific importance each has been afforded on the political and research agendas. Notable advances have been made in the theoretical development of both concepts over the last few decades. In the case of poverty, although the most frequent definition refers to the lack of income, different approaches have emerged as regards its conceptualization and measurement. And the concept of gender, as a theoretical and methodological approach to the cultural construction of sexual differences that alludes the inequalities between the female and male sexes and to the way the two aspects relate to each other, has become an increasingly important category of analysis.
The analysis of poverty from a gender perspective develops both concepts to help understand a number of processes inherent to this phenomenon, its dynamics and characteristics in specific contexts. It helps to explain why certain groups, by virtue of their sex, are more likely to be affected by poverty. Hence, the conceptual, methodological, and political importance of approaching the issue of poverty, from a gender perspective. Although the idea of the feminization of poverty has been questioned, it has pointed out the need to acknowledge that poverty affects men and women in different ways, and that gender is a factor just like age, ethnic factors and geographical location, among others which influences poverty and increases women’s vulnerability to it. In that sense, “the probability of being poor is not distributed randomly among the population”, as Gita Sen argues (1998 p. 127). By assigning the domestic sphere to women, the sexual division of labour causes an “inequality of opportunities for women, as a gender, to gain access to material and social resources (ownership of productive capital, paid labour, education and training), and to participate in decision-making in the main political, economic and social policies” (Bravo, 1998 p.63). In fact, women have not only relatively fewer material assets, but also fewer social assets (the income, goods and services to which people have access through their social relationships) and fewer cultural assets (the formal education and cultural knowledge that enable people perform in the human environment), all of which places them at greater risk of being poor (Bravo, 1998 p.63).
Women’s narrower access to resources caused by the limited spaces assigned to them through the sexual division of labour and to the social hierarchies built up on the basis of this division translates into deprivation in various social spheres, fundamentally in three closely connected systems: the labour market, the welfare or social protection system and the household (Ruspini, 1996).
Illiteracy rates are another manifestation of the constraints on women’s access to different types of assets. Although the rates historically displayed by women have decreased and the gap as regards men has narrowed, women still represent a higher proportion of the illiterate population. In 1970, the illiteracy rate for the population aged over 15 years was 22.3% for men and 30.3% for women, while in 2000 the male rate was 10.1% and the female rate 12.1%. Furthermore, the causes of discontinued schooling in adolescence are clearly differentiated by gender, since women leave their studies to undertake domestic labour, while men do so to enter paid labour (ECLAC, 2003).
By assigning the domestic sphere to women, the sexual division of labour causes an “inequality of opportunities for women, as a gender, to gain access to material and social resources (ownership of productive capital, paid labour, education and training), and to participate in decision-making in the main political, economic and social policies” (Bravo, 1998 p.63). In fact, women have not only relatively fewer material assets, but also fewer social assets (the income, goods and services to which people have access through their social relationships) and fewer cultural assets (the formal education and cultural knowledge that enable people perform in the human environment), all of which places them at greater risk of being poor (Bravo, 1998 p.63).
Women are economic actors
They produce and process food for the family; they are the primary caretakers of children, the elderly and the sick; and their income and labor are directed toward children’s education, health and well-being. In fact, there is incontrovertible evidence from a number of studies conducted during the 1980s that mothers typically spend their income on food and health care for children, which is in sharp contrast to men, who spend a higher proportion of their income for personal needs. A study conducted in Brazil, for example, found that the positive effect on the probability that a child will survive in urban Brazil is almost 20 times greater when the household income is controlled by a woman rather than by a man (Quisumbing et al., 1995).
Yet women face significant constraints in maximizing their productivity. They often do not have equal access to productive inputs or to markets for their goods. They own only 15 percent of the land worldwide, work longer hours than men and earn lower wages. They are overrepresented among workers in the informal labor market, in jobs that are seasonal, more precarious and not protected by labor standards.
Despite this, policies and programs that are based on notions of a typical household as consisting of a male bread-winner and dependent women and children often target men for the provision of productive resources and services. Such an approach widens the gender-based productivity gap, negatively affects women’s economic status, and does little to reduce poverty. Addressing these gender biases and inequalities by intentionally investing in women as economic agents, and doing so within a framework of rights that ensures that women’s access to and control over productive resources is a part of their entitlement as citizens, is an effective and efficient poverty reduction strategy.
Over the years there have been many efforts to reduce women’s poverty. Investments to increase agricultural productivity, improve livestock management and provide livelihood opportunities are key ways to address the needs of poor rural women. Another, more popular and effective intervention that currently reaches millions of women worldwide is microfinance — small loans and other financial services for poor women who have no access to the formal banking system. Microfinance programs have succeeded in increasing the incomes of poor households and protecting them against complete destitution. Yet another strategy to improve the economic status of poor women has been to increase women’s access to and control of land. Women who own or control land can use the land to produce food or generate income, or as collateral for credit.
Both men and women must work together to increase family incomes and contribute to development of the community and the country. “Economic empowerment of women working through families can guarantee a change in lives and livelihoods of the poor. Microfinancing women-led families is a sustainable way to ensure women’s development,” Zafar says. The realities of the poverty-ridden and resource-constrained women in villages in remote parts of Pakistan, and a will to help change their fate, prompted Zafar to quit her World Bank job in 1995 and enter social entrepreneurship: “While working with the World Bank, I realized that until we involve women and give them ownership in water and sanitation and other infrastructure projects, we cannot ensure implementation and success in these projects, as women are the ones who take care of water-fetching for rural families and those on the periphery of urban centers.”
Therefore, from the assertions so far, I strongly agree on the argument that says “poverty has the face of a woman because using Nigeria my country for example the marginalistion of women in political sphere, labour market, educational sector and so on has greatly affected the development of the country thereby dwindling the economic, political and social welfare of the country.
NAME: ONYISHI, CYNTHIA CHETACHI
REG NO: 2019/243107
DEPARTMENT: ECONOMICS
Q1. As a result of decolonization, the UN at first numerically dominated by Europe communities and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, through the essentially academic debate. Despite that debate, the unity of the third world remain hypotheticallybpressed mainly from the platforms of international conference.
Q2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.
The criteria by UN takes into consideration of development indicators like Human development Index(HDI),and Human poverty Index (HPI). According to UN,Countries with high HDI are developed while countries with low HDI are less developed. Also,countries with low HPI are developed,while countries with high HPI are less developed.
Q3. Low level of living: this simply means that a segment of the population of a country does not have adequate access to much wealth and basic services and amenities necessary for living, lack of food, shelter, clothing etc.
Low levels of productivity: this means that resources are not being used to their highest and fulest capacity, that is they are not utilizing their skills and competences to their maximum potential which in turn increases a company’s resources costs.
High rate of population growth: this occurs when the population of an economy or country exceeds the available resources to sustain and neet the basic need of the citizens in that economy.
Traditional and rural social structure: traditional structures can hinder development due to lack of urbanization and acceptance of new innovations and ideas for the improvement of that particular region or economy.
Wide spread poverty: this occurs when most regions in an economy are extremely poor occuring in most individuals. This state of poverty reduces the level of living making life extremely hard and un sustainable for individuals in those regions of the economy.
Substancial dependence on agriculture: this implies to over dependence on agriculture mainly for consumption and not for commercial purposes. Even exporting of only agricultural products can limit a country’s development.
Feeding the government: when the government extorts its citizens and uses the money for their own personal gain it leads to under development. Not meeting the need of the people by providing good roads, jobs, Infrastructure etc, leading to low level of living in the lives of the individuals in the economy.
Increase in unemployment: this occurs when the number of youths in the economy are without jobs, this may lead to increase in crime thus hinders Development in that economy.
Q4. I agree with the argument that ‘poverty has the face of a woman’. This is because in the society,it is known that men are born to provide for and protect there family, while the women are meant to support the husband. In the course of providing for a family or an individual need,the father or male does it better since it is more like a natural responsibility of all men. The woman in the other hand might find it hard in performing this function especially when she is acting as single mother. This is evident in the society. Most women after losing there husband finds life hard while being the bread winner of the family. They get affected mentally, physically and even emotionally,in some cases they end up losing their life due to the pressure and pain they go through.
Another point is that, the society in most cases is unfair to the women. They are not given access to many Social activities such as Education, leadership etc that will bring out there innate ability. This impedes them from being able to function adequately in the course of fending for themselves. They are been made to depend solely on men which in most cases are there husband, for there survival.
1 China and India are the giants of the emerging world. With more than a third of the world’s population between them, these two countries would have an immense effect on global trends even if they were not growing rapidly.
Despite very different political and economic systems, both countries have lifted millions from poverty, while income inequality and environmental degradation have worsened. Given the scale of these changes, the emergence of India and China has had profound implications for the rest of the world.
But China and India have pursued very different development paths. China’s economic model has focused on gearing its manufacturing industries toward exports for the rest of the world. India has also become increasingly integrated with the rest of the world, though under its model, domestic demand and services have played a more important role. As this process has played out, China has become the workshop of the world.
India’s growth has been less spectacular, but in many industries, from petrochemicals to software, India has achieved success on the global stage. Chinese goods—from T-shirts and air conditioners to iPod components and furniture—are for sale in almost every country on the planet. By contrast, Indian engineers automate office processes, call centers troubleshoot software glitches, and pharmaceutical companies produce generic drugs for clients around the world.
China and India have played a major role in promoting the political emergence of Third World countries and changing the relationship between the Third World and the industrial countries in the following ways:
a. Challenging the dominance of Western powers: Both China and India have challenged the dominance of Western powers by asserting their own political and economic models and rejecting the idea that the Western model is the only way to achieve development.
b. Providing an alternative model for development: China’s communist system and India’s mixed economy have provided Third World countries with alternative models for development that they can learn from and adapt to their own context.
c. Advocating for greater representation: Both China and India have advocated for greater representation for Third World countries in international organizations such as the United Nations, World Bank and IMF.
2. There are several other criteria and indicators used by the United Nations, World Bank, and other Bretton Woods institutions to measure development and underdevelopment in addition to Gross National Income (GNI) per capita per year. Some examples include:
a. Human Development Index (HDI): A composite statistic of health, education, and income indicators used to rank countries by level of human development.
b. Multidimensional Poverty Index (MPI): A measure of poverty that takes into account not just income, but also a range of other factors such as health, education, and living standards.
C. Gender Development Index (GDI): A measure of gender inequality that takes into account differences in life expectancy, education, and income between men and women.
d. Gender Empowerment Measure (GEM): A measure of gender inequality that looks at the economic, political, and educational status of women.
e. Human Capital Index (HCI): A measure of the amount of human capital that a country has in relation to the size of its population.
f. Social Progress Index (SPI): A measure of a country’s social progress, taking into account factors such as basic human needs, foundations of well-being, and opportunity.
G. Press Freedom Index: A measure of freedom of the press in different countries.
3. Developing nations, also known as less developed countries, are characterized by several common features. Some of the most notable characteristics include:
a. Low levels of economic development: Developing nations typically have lower levels of economic development compared to developed nations. This is reflected in lower levels of income, higher levels of poverty, and a smaller middle class.
B. Low levels of technological development: Developing nations tend to have less advanced technology compared to developed nations. This can be seen in areas such as transportation, communication, and energy production.
C. High levels of inequality: Developing nations often have high levels of inequality, both within their borders and in relation to developed nations. This can manifest in the form of wide income disparities, limited access to education and healthcare, and limited political representation.
d. High levels of unemployment and underemployment: Developing nations often have higher levels of unemployment and underemployment compared to developed nations. This can be due to a lack of job opportunities, a lack of education and training, or a lack of investment in the local economy.
E. High levels of population growth: Developing nations often have higher levels of population growth compared to developed nations. This can be due to high fertility rates and low levels of access to family planning services.
F. High level of corruption: Developing nations are often characterized by high levels of corruption in government, business, and other sectors, which can impede economic development and discourage foreign investment.
g. Poor infrastructure: Developing nations often have poor infrastructure in areas such as transportation, communication, and energy. This can make it difficult for businesses to operate and for people to access goods and services.
H. Dependence on primary industries: Developing nations often have economies that are heavily dependent on primary industries such as agriculture and mining. This can make their economies vulnerable to fluctuations in commodity prices and natural disasters.
i. Political instability: Developing nations often have political instability, which can be due to a lack of democratic institutions, ethnic or religious conflicts, or a lack of effective governance.
4. Yes I agree.
It has been argued that poverty has a disproportionate impact on women, and that women are more likely to be poor than men. This idea has been referred to as the “feminization of poverty.” There are several reasons why poverty disproportionately affects women:
A. Gender discrimination: Women often face discrimination in the workplace, which can limit their access to job opportunities and lead to lower wages. This can make it more difficult for women to escape poverty.
B. Limited access to education and training: Women often have limited access to education and training, which can limit their job opportunities and earning potential. This can make it more difficult for women to escape poverty.
c. Lack of legal rights: Women in many developing countries lack legal rights, which can make it difficult for them to inherit property, own land, or access credit. This can make it more difficult for women to escape poverty.
D. Unpaid care work: Women often bear the majority of the responsibility for unpaid care work such as child-rearing and caring for elderly relatives. This can limit their ability to participate in the paid workforce and limit their earning potential.
E. Cultural and societal norms: Societal norms and cultural expectations can limit the opportunities and aspirations of women, particularly in rural and patriarchal societies. This can make it more difficult for women to escape poverty.
Developing countries
Name :Ugwu Confidence Chika
Departmeent: combined social science (economics/political science)
Reg.no:2019/245041
1.) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
capitalism, also called free market economy or free enterprise economy, economic system, dominant in the Western world since the breakup of feudalism, in which most means of production are privately owned and production is guided and income distributed largely through the operation of markets.Capitalism is an economic ideology in which the means of production is controlled by private business. This means that individual citizens run the economy without the government interfering in production or pricing. Instead, pricing is set by the free market. This means that value is based on supply and demand and the relationship between producers and consumers.
A communist state, also known as a Marxist–Leninist state, is a one-party state that is administered and governed by a communist party guided by Marxism–Leninism. Marxism–Leninism was the state ideology of the Soviet Union, the Comintern after Bolshevisation and the communist states within the Comecon, the Eastern Bloc, and the Warsaw Pact.[1] Marxism–Leninism currently still remains thhe ideology of a few parties around the world. After its peak when many communist states were established, the Revolutions of 1989 brought down most of the communist states, however, it is still the official ideology of the ruling parties of China, Cuba, Laos, and Vietnam.[2] During most of the 20th century, before the Revolutions of 1989, around one-third of the world’s population lived under communist states.
2.)Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
The measurement of economic development can be done through the human development index (the HDI)This is the most used index to measure economic development. It takes the following three factors into account:
A. Health. The HDI measures the average life expectancy in a specific country and compares it to the global average.
.Education. The HDI measures the mean years of schooling and expected years of schooling in a country.
C Standard of living. The HDI measures the gross national income (GNI) per head, using the principle of purchasing power parity, PPP.In determining the HDI, each component has an equal weighting of 33%. The closer the HDI is to 1, the more developed the country is.
*There are a few developmental measures. They are:
A. HDI – Human Development Index.
B. HPI – Human Poverty Index.
Multidimensional Poverty Index.
C. GPI – Genuine Progress Indicator
3.)Clearly discuss and analyse the Common Characteristics of Developing Nations.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
The common characteristics of developing nations are briefly explained below.Major Characteristics of Developing Countries
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore. In a summary, the major characteristics of developing countries are presented in the following table.
1 Low Per Capita Real Income
2 Mass Poverty
3 Rapid Population Growth
4 The problem of Unemployment and Underemployment
5 Excessive Dependence on Agriculture
6 Technological Backwardness
7 Dualistic Economy
8 Lack of Infrastructures
9 Lower Productivity
10 High Consumption and Low Saving
4.)It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no
In support the motion that poverty has a woman face,To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture .
1 The Chinese Economy since the Start of the Reform and Open-door Policy The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism. 2. A measure for per capita income, a human assets index and an economic and environmental vulnerability 3 High Population Growth Rate Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care. b .High Rates of Unemployment In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes. 4. I disagree Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship, say MEPs in a non binding resolution adopted on Tuesday. Two other resolutions look at measures to combat gender stereotyping in the EU and to protect women’s rights in North Africa.
1.A historic event, largely unnoticed by the rest of the world, took place on the border between China and India on July 6, 2006. After 44 years, the Asian neighbors reopened Nathu La, a mountain pass perched 14,140 feet up in the eastern Himalayas, connecting Tibet in China to Sikkim in India. Braving heavy wind and rain, several dignitaries—including China’s ambassador to India, the Tibet Autonomous Region’s chairperson, and Sikkim’s chief minister—watched as soldiers removed a barbed wire fence between the two nations.
Companies all over the world would do well to hear the winds of change roaring through Nathu La (which in Tibetan means “Listening Ears Pass”). The decision to reopen the world’s highest customs post marked the culmination of a slow but steady process of rapprochement between China and India. The friends turned foes in 1962, when they fought a short but bloody war. After that, the two nations’ armies glared at each other, weapons at the ready, until their governments decided to fight poverty rather than each other. In the past few years, China (under President Hu Jintao and Premier Wen Jiabao) and India (led by Prime Minister Manmohan Singh) have forged links anew. China now supports India’s bid for a permanent seat on the United Nations Security Council; their armies have held joint military exercises; and at World Trade Organization negotiations, the countries have adopted similar positions on international trade in agricultural products and intellectual property rights.
The two nations are also reviving their old cultural and religious ties. Beginning in 2012, they will allow tourists to use Nathu La, which will increase the number of cross-border pilgrimages. The pass makes it easy for China’s Buddhists to offer prayers at monasteries in Sikkim, such as Rumtek, and for India’s Hindus and Jains to visit sacred Mount Kailash and Manasarovar Lake in Tibet. The bonds between China and India run deep. Four out of five Chinese, from a broad cross-section of society, told me in an informal survey that Bollywood movies come immediately to mind when they think about India. That’s despite the fact that it has been more than a decade since Indian movies were the only foreign films shown in China. Ignoring these facts would be a mistake; several scholars, such as Baruch College’s Tansen Sen, have argued that religion and culture lubricate the wheels of commerce.
China and India are also rebuilding their business bridges. Although Nathu La’s reopening may be largely symbolic—the two countries allow the trade of only a few products, such as raw silk, horses, and tea, across the pass—it indicates a fresh camaraderie between the planet’s fastest-growing economies. Their desire to strike a partnership is evident: High-level official visits often take place between them; businesspeople from each country participate in conferences held in the other; and forecasts of the flow of goods and services between them keep rising. Sino–Indian trade stagnated at around $250 million a year in the 1990s, but it touched $13 billion in 2006, will cross the $20 billion mark in 2007, and may exceed $30 billion in 2008—a growth rate of more than 50% a year.
Yet most enterprises and experts gloss over this budding business axis. I hear the naysayers all the time. China and India can’t collaborate; they can only compete, say many Western (and not a few Chinese and Indian) academics and consultants. Both nations are vying to be Asia’s undisputed superpower, and they are suspicious about each other’s intentions. China and India have nuclear weapons; they have created the world’s biggest armies; and they are trying to dominate the seas in the region. China continues to support Pakistan, which India isn’t happy about, and India still lets in Tibetan refugees, which China resents. The United States, meanwhile, plays India against China. In addition, since most adult Chinese and Indians grew up seeing each other as aggressors, it’s tough for them to trust each other.
Moreover, the argument runs, China and India are business rivals at heart. The former’s remarkable economic rise threatens India, which trails its neighbor on almost every conventional socioeconomic indicator. China may be strong in manufacturing and infrastructure and India in services and information technology, but the latter’s manufacturing industry is becoming globally competitive, while China’s technology sector threatens to match India’s in a decade. Both have a growing appetite for natural resources such as oil, coal, and iron ore, for which they compete fiercely. They also fight for capital, especially for investments by multi-national companies from North America, Europe, and Japan. All this makes it difficult to believe that China and India can ever cooperate. Few people think to ask, “Can China and India work together?” Instead, a big question debated in boardrooms is whether India can catch up with China.
This perspective is incomplete. China is home to 1.3 billion people; India has a population of 1.1 billion. In the next decade, they will become the largest and third-largest economies in terms of purchasing power. By 2016 they will account for around 40% of world trade, compared with 15% in 2006. That’s roughly the position they occupied about 200 years ago. Economist Angus Maddison has calculated that in the 1800s, China and India together accounted for 50% of global trade. It is impossible to make predictions about the integration of these countries into the global economy, because past events, such as Germany’s reunification and the fall of the Iron Curtain, don’t compare. After those occurrences in 1990, a large number of people entered the global economy, but the numbers pale in significance when compared with the China–India double whammy. Like it or not, the world’s future is tied to China and India.Enternal debt
2.1Education
life expectancy
Energy and mining
Environment
Financial sector
Adjustment real income.
3.1 Low real per capita income: When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing.
As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty. One of the biggest issues that undeveloped nations deal with is this.
2. Massive Poverty: The majority of people in developing countries have been affected by the issue of poverty. Even the most fundamental demands cannot be met by them. The issue of poverty is also reflected in the low per capita in emerging countries.
So, in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access.
3. Rapid growth in population: Developing nations either experience rapid population increase or have greater populations. Different factors contribute to the faster population increase in emerging nations. People feel more secure and have more children in these nations because of the higher newborn and child mortality rates.
People in underdeveloped nations are also influenced to have more children by a lack of family planning information and alternatives, a lack of sex education, and beliefs that having more children will increase the work force, which will increase income and riches. The idea of conservatism existing in such countries is another argument in favor of this.
4. Unemployment and underemployment: A Problem: Other significant issues and prevalent traits of emerging or undeveloped countries include unemployment and underemployment. The issue of underemployment and unemployment in emerging nations is brought on by factors such as an overreliance on agriculture, a lack of industrialization, an improper use of natural resources, a lack of workforce planning, and others. Underemployment is a more significant issue than unemployment in developing countries.
Because there are no alternatives to these types of professions, people are forced to work at subpar jobs. The problem of underemployment is widespread in several nations, particularly in their rural and underdeveloped regions.
5. Technological Stagnation: Innovative technology has a positive and growing impact on a country’s ability to develop. The utilization of technology is extremely low in developing nations, and the technology that is employed is also old. In less developed countries, this results in a high cost of manufacturing and a high capital-output ratio. Poor pay rates, a high labor-to-capital ratio, and high capital-output ratios all contribute to low input productivity, which lowers a country’s gross domestic product.
Some of the main reasons for technological backwardness in developing countries include illiteracy, a lack of good education, a lack of programs for skill development, and a lack of funding for the installation of cutting-edge technologies.
6. Too much reliance on agriculture: In developing countries, especially in rural regions, the bulk of the population works in agriculture. In some countries, agriculture is the only industry that provides work and revenue.
Additionally, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly.
7. Inadequate infrastructure: In developing countries, infrastructure is not properly developed, including the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Additionally, constructed infrastructure is poorly managed and not allocated in an effective and equitable manner. This has put these countries’ ability to develop at risk.
4.yes because according to Tahira Abdullah, quote “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
The risks of increasing poverty grow in parallel with the number of women-headed households. Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
It is no surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.
Unsurprisingly, few poor women have hope of escaping this poverty as there are so many odds stacked against them. Despite laws that favour them, even richer women are regularly denied land inheritance by emotional coercion, forced marriage and even by ‘marriage’ to the Quran.
School: University of Nigeria Nsukka
Department: Social science education (Education/Economics)
Course: Development Economics I (Eco 361)
Name: Diugwu Salvation Nmesoma
Reg. No: 2019/242289
Lecturer: Dr. Tony Orji
Email address: salvationnmesoma65@gmail.com
(1.) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist discuss
Political ascent of other emerging nations, commonly referred to as the “third world,” has been significantly influenced by China and India, two of the greatest developing nations in the globe. Both countries have unique social and economic systems, which have shaped how they see foreign relations and their place in the world.
China has long been seen as a socialist and growing country leader due to its communist regime. In addition to advocating for a more fair allocation of resources and power in the international system, it has given aid and support to other nations in the Global South. China’s recent economic growth has also made it a significant player in the global economy, which has resulted in closer economic relations with other developing nations.
India, with its democratic and economic system, has contributed significantly to the rise of third-world nations in terms of politics. It has a history of representing the rights and interests of developing nations at international fora, as well as taking the lead in the Non-Aligned Movement, which encourages collaboration and solidarity among developing nations. India’s recent rapid economic development has made it a prominent role in the world economy and strengthened its links with other emerging nations.
Overall, China and India have both had a significant impact on the political rise of developing nations and the evolution of their ties with industrialized, capitalist, and communist nations.
(2). Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. discuss
Traditionally, developing nations are classified based on their annual Gross National Income (GNI) per capita. Based on their GNI per capita, the World Bank divides nations into low-income, lower-middle-income, upper-middle-income, and high-income categories. Lower-middle-income nations have a GNI per capita between $1,026 and $4,035; upper-middle-income nations have a GNI per capita between $4,036 and $12,475; and high-income nations have a GNI per capita of $12,476 or more. This categorization is used to assess a nation’s economic progress and to spot those who might need more help if they want to attain sustainable development.
However, Different standards and indicators for measuring progress and underdevelopment have been created by the United Nations, World Bank, and other Bretton Woods organizations. These include metrics like the Multidimensional Poverty Index (MPI), the Human Development Index (HDI), and the Gender Development Index (GDI) (MPI).
The value of all products and services generated in a nation is measured by its GDP. The HDI combines indices for standard of living, health, and education to give a measurement of a nation’s total human development. Gender-based disparities in these same domains are measured by GDI. To quantify poverty in a comprehensive manner, MPI takes into consideration a number of variables, such as health, education, and living conditions.
1. Gross Domestic Product (GDP) per capita: This statistic gauges a nation’s economic success on an individual level. A greater standard of life is typically associated with a higher GDP per capita.
2. The Human Development Index (HDI) is a composite metric that considers variables including income, education, and life expectancy. High HDI nations are seen as being more developed.
3. The poverty rate is a measurement of the proportion of a nation’s population that is living in poverty. High rates of poverty are indicative of less developed nations.
4. Gender Development Index (GDI): The gender-based disparities in human development are measured by the Gender Development Index (GDI). Gender inequality is believed to be worse in nations with low GDI.
5. Multidimensional Poverty Index (MPI):The Multidimensional Poverty Index (MPI) measures poverty by taking into account a number of factors, such as living conditions, health, and education. High MPI nations are thought to have greater levels of poverty.
Indicators for particular areas like income inequality, access to clean water, and access to power are available in addition to these metrics. These metrics are used to evaluate a nation’s progress in reaching the 17 Sustainable Development Goals (SDGs) of the United Nations, which include eradicating poverty, safeguarding the environment, and ensuring that all people live in peace and prosperity.
Overall, because they give a complete view of a nation’s economic, social, and environmental well-being, these criteria and indicators are crucial instruments for gauging progress and underdevelopment.
(3.) Clearly discuss and analyse the Common Characteristics of Developing Nations.
1. Low per capita income: When compared to rich countries, developing countries often have lower average income levels. As a result, there are high rates of poverty and insufficient funds for social services including healthcare, education, and welfare. When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty.
2. Agriculture-based economies: Agriculture is a major source of revenue and employment in many developing countries. They may become more susceptible as a result of variations in agricultural prices and climate change. In developing countries, especially in rural regions, the majority of people work in agriculture. In some countries, agriculture is the only industry that provides work and revenue. Additionally, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly.
3. Lack of infrastructure: Developing countries frequently lack basic infrastructure, including insufficient electricity, transportation, and communication networks. This may hinder economic expansion and make it challenging for companies to function. In developing countries, infrastructure is not properly developed, including the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Additionally, constructed infrastructure is poorly managed and not allocated in an effective and equitable manner. This has put these countries’ ability to develop at risk.
4. High degrees of corruption: High levels of corruption are common in developing countries, which can slow economic growth and deter foreign investment.
5. Dependence on Foreign Aid: Developing countries depend heavily on aid from other countries to survive and develop, which leaves them open to the political and economic whims of donors.
6. High poverty rate: The percentage of the population in developing nations that lives in poverty is known as the high poverty rate. Access to fundamental services like healthcare, education, and other necessities is frequently to blame for this. The majority of people in developing countries have been affected by the issue of poverty. Even their most basic requirements cannot be met. The issue of poverty is also reflected in the low per capita in emerging countries. So, in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access.
7. Low life expectancy: Developing nations have low life expectancies, which are frequently caused by poor living circumstances and a lack of access to healthcare.
8. High rate of illiteracy: The percentage of the population who are unable to read or write is high in developing nations. Lack of access to education is frequently to blame for this.
9. Environmental deterioration: Developing countries frequently experience high levels of environmental deterioration, which can be brought on by excessive exploitation of natural resources and a lack of environmental laws.
10. The productivity of factors is similarly poor in undeveloped countries. This is a result of a lack of funding and administrative expertise needed to acquire breakthrough technology and policies and manage them successfully. Lower productivity in developing countries is ascribed to a variety of causes, including malnutrition, inadequate access to healthcare, a strong social support network, living in an unsanitary environment, employees’ bad health and stressful work environments, etc.
11. High Consumption and Low Saving: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help.
(4.) It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
The term “feminization of poverty” refers to the phenomena where women make up a disproportionately large fraction of the world’s impoverished. This tendency is a result of both a lack of income and possibilities because of established gender norms and gender prejudice in some communities. Due to the idea that women should be in charge of childrearing and parenting, gender prejudices sometimes deny women the chance to pursue education or jobs on their own. The rise in the number of lone mother homes is tied to the growing proportion of women living in poverty.
The argument that poverty has the face of a woman is true. This is due to a variety of factors such as discrimination in the workforce, lack of access to education and resources, and societal expectations and norms that limit women’s opportunities. Additionally, women often bear the primary responsibility for caring for children and elderly family members, which can make it difficult for them to work and earn a stable income. As a result, women are more likely to live in poverty and have less financial security than men.
Although poor income is the main factor contributing to female poverty, there are other interconnected causes of this issue. Women’s access to basic necessities like food and shelter as well as their potential for progress are restricted by a lack of cash.Women’s lifelong earning potential is decreased since they lack access to healthcare and basic education due to their disproportionately lower income than males. Motherhood’s obligations place further restrictions on women’s economic advancement. The homes most at danger of poverty are those headed by lone mothers or without a guardian or second parent. The likelihood of poverty is highest in female-headed families (when no male is present) since there are fewer family income providers. Lone mother families are related to concerns of gender inequality since women are more prone to poverty and lack basic necessities than males.
Women who live in poverty have less access to healthcare resources and services. Women suffer from poor health outcomes disproportionately, in part because of the cost of childbirth. Poor health made it harder for women to make a living, which is a major contributor to the growth and maintenance of family poverty. Therefore, expanding health care to women might reduce how feminized poverty is. Greater chances for women to escape poverty and advance in society can be created through educating women and children, especially girls. Women’s access to fundamental education is restricted in nations with severe gender discrimination and social hierarchy. Even within the family, females’ education is sometimes neglected so that their brothers can go to school.
Women throughout the world have few employment options. Due to their uneven access to lucrative and satisfying employment options, women are frequently unable to materially manage their surroundings. There are official and informal vocations in the workforce. Government regulation governs formal employment, and employees are guaranteed a pay and specific rights. In tiny, unregistered businesses, there is informal employment. Since so many women work in unorganized settings, there is less control over how they are employed. Women find it more challenging to handle workplace complaints and guarantee safe and legal working conditions as a result.
School: University of Nigeria Nsukka
Department: Social science education (Education/Economics)
Course: Development Economics I (Eco 361)
Name: Diugwu Salvation Nmesoma
Reg. No: 2019/242289
Lecturer: Dr. Tony Orji
Email address: salvationnmesoma65@gmail.com
(1.) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist discuss
Political ascent of other emerging nations, commonly referred to as the “third world,” has been significantly influenced by China and India, two of the greatest developing nations in the globe. Both countries have unique social and economic systems, which have shaped how they see foreign relations and their place in the world.
China has long been seen as a socialist and growing country leader due to its communist regime. In addition to advocating for a more fair allocation of resources and power in the international system, it has given aid and support to other nations in the Global South. China’s recent economic growth has also made it a significant player in the global economy, which has resulted in closer economic relations with other developing nations.
India, with its democratic and economic system, has contributed significantly to the rise of third-world nations in terms of politics. It has a history of representing the rights and interests of developing nations at international fora, as well as taking the lead in the Non-Aligned Movement, which encourages collaboration and solidarity among developing nations. India’s recent rapid economic development has made it a prominent role in the world economy and strengthened its links with other emerging nations.
Overall, China and India have both had a significant impact on the political rise of developing nations and the evolution of their ties with industrialized, capitalist, and communist nations.
(2). Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. discuss
Traditionally, developing nations are classified based on their annual Gross National Income (GNI) per capita. Based on their GNI per capita, the World Bank divides nations into low-income, lower-middle-income, upper-middle-income, and high-income categories. Lower-middle-income nations have a GNI per capita between $1,026 and $4,035; upper-middle-income nations have a GNI per capita between $4,036 and $12,475; and high-income nations have a GNI per capita of $12,476 or more. This categorization is used to assess a nation’s economic progress and to spot those who might need more help if they want to attain sustainable development.
However, Different standards and indicators for measuring progress and underdevelopment have been created by the United Nations, World Bank, and other Bretton Woods organizations. These include metrics like the Multidimensional Poverty Index (MPI), the Human Development Index (HDI), and the Gender Development Index (GDI) (MPI).
The value of all products and services generated in a nation is measured by its GDP. The HDI combines indices for standard of living, health, and education to give a measurement of a nation’s total human development. Gender-based disparities in these same domains are measured by GDI. To quantify poverty in a comprehensive manner, MPI takes into consideration a number of variables, such as health, education, and living conditions.
1. GROSS DOMESTIC PRODUCT (GDP) PER CAPITA: This statistic gauges a nation’s economic success on an individual level. A greater standard of life is typically associated with a higher GDP per capita.
2. THE HUMAN DEVELOPMENT INDEX (HDI) is a composite metric that considers variables including income, education, and life expectancy. High HDI nations are seen as being more developed.
3. THE POVERTY RATE is a measurement of the proportion of a nation’s population that is living in poverty. High rates of poverty are indicative of less developed nations.
4. GENDER DEVELOPMENT INDEX (GDI): The gender-based disparities in human development are measured by the Gender Development Index (GDI). Gender inequality is believed to be worse in nations with low GDI.
5. MULTIDIMENSIONAL POVERTY INDEX (MPI):The Multidimensional Poverty Index (MPI) measures poverty by taking into account a number of factors, such as living conditions, health, and education. High MPI nations are thought to have greater levels of poverty.
Indicators for particular areas like income inequality, access to clean water, and access to power are available in addition to these metrics. These metrics are used to evaluate a nation’s progress in reaching the 17 Sustainable Development Goals (SDGs) of the United Nations, which include eradicating poverty, safeguarding the environment, and ensuring that all people live in peace and prosperity.
Overall, because they give a complete view of a nation’s economic, social, and environmental well-being, these criteria and indicators are crucial instruments for gauging progress and underdevelopment.
(3.) Clearly discuss and analyse the Common Characteristics of Developing Nations.
1. LOW PER CAPITA INCOME: When compared to rich countries, developing countries often have lower average income levels. As a result, there are high rates of poverty and insufficient funds for social services including healthcare, education, and welfare. When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty.
2. AGRICULTURE-BASED ECONOMIES: Agriculture is a major source of revenue and employment in many developing countries. They may become more susceptible as a result of variations in agricultural prices and climate change. In developing countries, especially in rural regions, the majority of people work in agriculture. In some countries, agriculture is the only industry that provides work and revenue. Additionally, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly.
3. LACK OF INFRASTRUCTURE: Developing countries frequently lack basic infrastructure, including insufficient electricity, transportation, and communication networks. This may hinder economic expansion and make it challenging for companies to function. In developing countries, infrastructure is not properly developed, including the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Additionally, constructed infrastructure is poorly managed and not allocated in an effective and equitable manner. This has put these countries’ ability to develop at risk.
4. HIGH DEGREES OF CORRUPTION: High levels of corruption are common in developing countries, which can slow economic growth and deter foreign investment.
5. DEPENDENCE ON FOREIGN AID: Developing countries depend heavily on aid from other countries to survive and develop, which leaves them open to the political and economic whims of donors.
6. HIGH POVERTY RATE: The percentage of the population in developing nations that lives in poverty is known as the high poverty rate. Access to fundamental services like healthcare, education, and other necessities is frequently to blame for this. The majority of people in developing countries have been affected by the issue of poverty. Even their most basic requirements cannot be met. The issue of poverty is also reflected in the low per capita in emerging countries. So, in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access.
7. LOW LIFE EXPECTANCY: Developing nations have low life expectancies, which are frequently caused by poor living circumstances and a lack of access to healthcare.
8. HIGH RATE OF ILLITERACY: The percentage of the population who are unable to read or write is high in developing nations. Lack of access to education is frequently to blame for this.
9. ENVIRONMENTAL DETERIORATION: Developing countries frequently experience high levels of environmental deterioration, which can be brought on by excessive exploitation of natural resources and a lack of environmental laws.
10. The productivity of factors is similarly poor in undeveloped countries. This is a result of a lack of funding and administrative expertise needed to acquire breakthrough technology and policies and manage them successfully. Lower productivity in developing countries is ascribed to a variety of causes, including malnutrition, inadequate access to healthcare, a strong social support network, living in an unsanitary environment, employees’ bad health and stressful work environments, etc.
11. HIGH CONSUMPTION AND LOW SAVING: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help.
(4.) It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
The term “feminization of poverty” refers to the phenomena where women make up a disproportionately large fraction of the world’s impoverished. This tendency is a result of both a lack of income and possibilities because of established gender norms and gender prejudice in some communities. Due to the idea that women should be in charge of childrearing and parenting, gender prejudices sometimes deny women the chance to pursue education or jobs on their own. The rise in the number of lone mother homes is tied to the growing proportion of women living in poverty.
The argument that poverty has the face of a woman is true. This is due to a variety of factors such as discrimination in the workforce, lack of access to education and resources, and societal expectations and norms that limit women’s opportunities. Additionally, women often bear the primary responsibility for caring for children and elderly family members, which can make it difficult for them to work and earn a stable income. As a result, women are more likely to live in poverty and have less financial security than men.
Although poor income is the main factor contributing to female poverty, there are other interconnected causes of this issue. Women’s access to basic necessities like food and shelter as well as their potential for progress are restricted by a lack of cash.Women’s lifelong earning potential is decreased since they lack access to healthcare and basic education due to their disproportionately lower income than males. Motherhood’s obligations place further restrictions on women’s economic advancement. The homes most at danger of poverty are those headed by lone mothers or without a guardian or second parent. The likelihood of poverty is highest in female-headed families (when no male is present) since there are fewer family income providers. Lone mother families are related to concerns of gender inequality since women are more prone to poverty and lack basic necessities than males.
Women who live in poverty have less access to healthcare resources and services. Women suffer from poor health outcomes disproportionately, in part because of the cost of childbirth. Poor health made it harder for women to make a living, which is a major contributor to the growth and maintenance of family poverty. Therefore, expanding health care to women might reduce how feminized poverty is. Greater chances for women to escape poverty and advance in society can be created through educating women and children, especially girls. Women’s access to fundamental education is restricted in nations with severe gender discrimination and social hierarchy. Even within the family, females’ education is sometimes neglected so that their brothers can go to school.
Women throughout the world have few employment options. Due to their uneven access to lucrative and satisfying employment options, women are frequently unable to materially manage their surroundings. There are official and informal vocations in the workforce. Government regulation governs formal employment, and employees are guaranteed a pay and specific rights. In tiny, unregistered businesses, there is informal employment. Since so many women work in unorganized settings, there is less control over how they are employed. Women find it more challenging to handle workplace complaints and guarantee safe and legal working conditions as a result.
School: University of Nigeria Nsukka
Department: Social science education (Education/Economics)
Course: Development Economics I (Eco 361)
Name: Diugwu Salvation Nmesoma
Reg. No: 2019/242289
Lecturer: Dr. Tony Orji
Email address: salvationnmesoma65@gmail.com
(1.) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist discuss
Political ascent of other emerging nations, commonly referred to as the “third world,” has been significantly influenced by China and India, two of the greatest developing nations in the globe. Both countries have unique social and economic systems, which have shaped how they see foreign relations and their place in the world.
China has long been seen as a socialist and growing country leader due to its communist regime. In addition to advocating for a more fair allocation of resources and power in the international system, it has given aid and support to other nations in the Global South. China’s recent economic growth has also made it a significant player in the global economy, which has resulted in closer economic relations with other developing nations.
India, with its democratic and economic system, has contributed significantly to the rise of third-world nations in terms of politics. It has a history of representing the rights and interests of developing nations at international fora, as well as taking the lead in the Non-Aligned Movement, which encourages collaboration and solidarity among developing nations. India’s recent rapid economic development has made it a prominent role in the world economy and strengthened its links with other emerging nations.
Overall, China and India have both had a significant impact on the political rise of developing nations and the evolution of their ties with industrialized, capitalist, and communist nations.
(2). Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. discuss
Traditionally, developing nations are classified based on their annual Gross National Income (GNI) per capita. Based on their GNI per capita, the World Bank divides nations into low-income, lower-middle-income, upper-middle-income, and high-income categories. Lower-middle-income nations have a GNI per capita between $1,026 and $4,035; upper-middle-income nations have a GNI per capita between $4,036 and $12,475; and high-income nations have a GNI per capita of $12,476 or more. This categorization is used to assess a nation’s economic progress and to spot those who might need more help if they want to attain sustainable development.
However, Different standards and indicators for measuring progress and underdevelopment have been created by the United Nations, World Bank, and other Bretton Woods organizations. These include metrics like the Multidimensional Poverty Index (MPI), the Human Development Index (HDI), and the Gender Development Index (GDI) (MPI).
The value of all products and services generated in a nation is measured by its GDP. The HDI combines indices for standard of living, health, and education to give a measurement of a nation’s total human development. Gender-based disparities in these same domains are measured by GDI. To quantify poverty in a comprehensive manner, MPI takes into consideration a number of variables, such as health, education, and living conditions.
1. GROSS DOMESTIC PRODUCT (GDP) PER CAPITA: This statistic gauges a nation’s economic success on an individual level. A greater standard of life is typically associated with a higher GDP per capita.
2. THE HUMAN DEVELOPMENT INDEX (HDI) is a composite metric that considers variables including income, education, and life expectancy. High HDI nations are seen as being more developed.
3. THE POVERTY RATE is a measurement of the proportion of a nation’s population that is living in poverty. High rates of poverty are indicative of less developed nations.
4. GENDER DEVELOPMENT INDEX (GDI): The gender-based disparities in human development are measured by the Gender Development Index (GDI). Gender inequality is believed to be worse in nations with low GDI.
5. MULTIDIMENSIONAL POVERTY INDEX (MPI):The Multidimensional Poverty Index (MPI) measures poverty by taking into account a number of factors, such as living conditions, health, and education. High MPI nations are thought to have greater levels of poverty.
Indicators for particular areas like income inequality, access to clean water, and access to power are available in addition to these metrics. These metrics are used to evaluate a nation’s progress in reaching the 17 Sustainable Development Goals (SDGs) of the United Nations, which include eradicating poverty, safeguarding the environment, and ensuring that all people live in peace and prosperity.
Overall, because they give a complete view of a nation’s economic, social, and environmental well-being, these criteria and indicators are crucial instruments for gauging progress and underdevelopment.
(3.) Clearly discuss and analyse the Common Characteristics of Developing Nations.
1. LOW PER CAPITA INCOME: When compared to rich countries, developing countries often have lower average income levels. As a result, there are high rates of poverty and insufficient funds for social services including healthcare, education, and welfare. When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty.
2. AGRICULTURE-BASED ECONOMIES: Agriculture is a major source of revenue and employment in many developing countries. They may become more susceptible as a result of variations in agricultural prices and climate change. In developing countries, especially in rural regions, the majority of people work in agriculture. In some countries, agriculture is the only industry that provides work and revenue. Additionally, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly.
3. LACK OF INFRASTRUCTURE: Developing countries frequently lack basic infrastructure, including insufficient electricity, transportation, and communication networks. This may hinder economic expansion and make it challenging for companies to function. In developing countries, infrastructure is not properly developed, including the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Additionally, constructed infrastructure is poorly managed and not allocated in an effective and equitable manner. This has put these countries’ ability to develop at risk.
4. HIGH DEGREES OF CORRUPTION: High levels of corruption are common in developing countries, which can slow economic growth and deter foreign investment.
5. DEPENDENCE ON FOREIGN AID: Developing countries depend heavily on aid from other countries to survive and develop, which leaves them open to the political and economic whims of donors.
6. HIGH POVERTY RATE: The percentage of the population in developing nations that lives in poverty is known as the high poverty rate. Access to fundamental services like healthcare, education, and other necessities is frequently to blame for this. The majority of people in developing countries have been affected by the issue of poverty. Even their most basic requirements cannot be met. The issue of poverty is also reflected in the low per capita in emerging countries. So, in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access.
7. LOW LIFE EXPECTANCY: Developing nations have low life expectancies, which are frequently caused by poor living circumstances and a lack of access to healthcare.
8. HIGH RATE OF ILLITERACY: The percentage of the population who are unable to read or write is high in developing nations. Lack of access to education is frequently to blame for this.
9. ENVIRONMENTAL DETERIORATION: Developing countries frequently experience high levels of environmental deterioration, which can be brought on by excessive exploitation of natural resources and a lack of environmental laws.
10. The productivity of factors is similarly poor in undeveloped countries. This is a result of a lack of funding and administrative expertise needed to acquire breakthrough technology and policies and manage them successfully. Lower productivity in developing countries is ascribed to a variety of causes, including malnutrition, inadequate access to healthcare, a strong social support network, living in an unsanitary environment, employees’ bad health and stressful work environments, etc.
11. HIGH CONSUMPTION AND LOW SAVING: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help.
(4.) It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
The term “feminization of poverty” refers to the phenomena where women make up a disproportionately large fraction of the world’s impoverished. This tendency is a result of both a lack of income and possibilities because of established gender norms and gender prejudice in some communities. Due to the idea that women should be in charge of childrearing and parenting, gender prejudices sometimes deny women the chance to pursue education or jobs on their own. The rise in the number of lone mother homes is tied to the growing proportion of women living in poverty.
The argument that poverty has the face of a woman is true. This is due to a variety of factors such as discrimination in the workforce, lack of access to education and resources, and societal expectations and norms that limit women’s opportunities. Additionally, women often bear the primary responsibility for caring for children and elderly family members, which can make it difficult for them to work and earn a stable income. As a result, women are more likely to live in poverty and have less financial security than men.
Although poor income is the main factor contributing to female poverty, there are other interconnected causes of this issue. Women’s access to basic necessities like food and shelter as well as their potential for progress are restricted by a lack of cash.Women’s lifelong earning potential is decreased since they lack access to healthcare and basic education due to their disproportionately lower income than males. Motherhood’s obligations place further restrictions on women’s economic advancement. The homes most at danger of poverty are those headed by lone mothers or without a guardian or second parent. The likelihood of poverty is highest in female-headed families (when no male is present) since there are fewer family income providers. Lone mother families are related to concerns of gender inequality since women are more prone to poverty and lack basic necessities than males.
Women who live in poverty have less access to healthcare resources and services. Women suffer from poor health outcomes disproportionately, in part because of the cost of childbirth. Poor health made it harder for women to make a living, which is a major contributor to the growth and maintenance of family poverty. Therefore, expanding health care to women might reduce how feminized poverty is. Greater chances for women to escape poverty and advance in society can be created through educating women and children, especially girls. Women’s access to fundamental education is restricted in nations with severe gender discrimination and social hierarchy. Even within the family, females’ education is sometimes neglected so that their brothers can go to school.
Women throughout the world have few employment options. Due to their uneven access to lucrative and satisfying employment options, women are frequently unable to materially manage their surroundings. There are official and informal vocations in the workforce. Government regulation governs formal employment, and employees are guaranteed a pay and specific rights. In tiny, unregistered businesses, there is informal employment. Since so many women work in unorganized settings, there is less control over how they are employed. Women find it more challenging to handle workplace complaints and guarantee safe and legal working conditions as a result.
NNA OZIOMA VINE
2019/247263
ECO 361
DEVELOPMENT ECONOMICS
ECONOMICS DEPARTMENT
1.) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.
2.) Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
UNDP uses the Human Development Index (HDI) as the main criterion for measuring development. This criterion takes into consideration other development indicators like literacy level, life expectancy, besides per capita income. Whereas, the World Bank compares the different countries only on the basis of the income criterion.
(ii) The Human Development Index (HDI) is a measurement system used by the United Nations to evaluate the level of individual human development in each country.
It was introduced by the U.N. in 1990. No
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 uses components such as average annual income and educational expectations to rank and compare countries.
The HDI has been criticized by social advocates for not representing a broad-enough measure of quality of life and by economists for providing little additional useful information beyond simpler measures of the economic standard of living.
(iii) Infant mortality rate
Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.
(iv) Literacy rate
The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
(v) High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.
(vi) Life expectancy
This simple statistic can be used as an indicator of the:
(vii) healthcare quality in a country or province
level of sanitation
provision of care for the elderly
It should not, of course, be used on its own to describe these things
(3) Clearly discuss and analyse the Common Characteristics of Developing Nations.
1 Low Per Capita Real Income
2 Mass Poverty
3 Rapid Population Growth
4 The problem of Unemployment and Underemployment
5 Excessive Dependence on Agriculture
6 Technological Backwardness
7 Dualistic Economy
8 Lack of Infrastructures
9 Lower Productivity
10 High Consumption and Low Saving.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020.
(4) It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure hwo you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
Well I think poverty has a woman’s face around . And I think in my opinion it can be due to the following reasons :
There is more women population in the world than man so when doing research is easier to sample women
As much as it’s known that a man is a provider , a woman has to be the one that provides for the kids in the interim while the man goes to “hunt”.
I have noticed that on social media and TV when pictures are showed to potray or express poverty in most cases it is a picture of women and children.
Name :Ugwu Confidence Chika
Department: combined social science (economics/political science)
Reg.no:2019/245041
1.) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
capitalism, also called free market economy or free enterprise economy, economic system, dominant in the Western world since the breakup of feudalism, in which most means of production are privately owned and production is guided and income distributed largely through the operation of markets.Capitalism is an economic ideology in which the means of production is controlled by private business. This means that individual citizens run the economy without the government interfering in production or pricing. Instead, pricing is set by the free market. This means that value is based on supply and demand and the relationship between producers and consumers.
A communist state, also known as a Marxist–Leninist state, is a one-party state that is administered and governed by a communist party guided by Marxism–Leninism. Marxism–Leninism was the state ideology of the Soviet Union, the Comintern after Bolshevisation and the communist states within the Comecon, the Eastern Bloc, and the Warsaw Pact.[1] Marxism–Leninism currently still remains thhe ideology of a few parties around the world. After its peak when many communist states were established, the Revolutions of 1989 brought down most of the communist states, however, it is still the official ideology of the ruling parties of China, Cuba, Laos, and Vietnam.[2] During most of the 20th century, before the Revolutions of 1989, around one-third of the world’s population lived under communist states.
2.)Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
The measurement of economic development can be done through the human development index (the HDI)This is the most used index to measure economic development. It takes the following three factors into account:
A. Health. The HDI measures the average life expectancy in a specific country and compares it to the global average.
.Education. The HDI measures the mean years of schooling and expected years of schooling in a country.
C Standard of living. The HDI measures the gross national income (GNI) per head, using the principle of purchasing power parity, PPP.In determining the HDI, each component has an equal weighting of 33%. The closer the HDI is to 1, the more developed the country is.
*There are a few developmental measures. They are:
A. HDI – Human Development Index.
B. HPI – Human Poverty Index.
Multidimensional Poverty Index.
C. GPI – Genuine Progress Indicator
3.)Clearly discuss and analyse the Common Characteristics of Developing Nations.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
The common characteristics of developing nations are briefly explained below.Major Characteristics of Developing Countries
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore. In a summary, the major characteristics of developing countries are presented in the following table.
1 Low Per Capita Real Income
2 Mass Poverty
3 Rapid Population Growth
4 The problem of Unemployment and Underemployment
5 Excessive Dependence on Agriculture
6 Technological Backwardness
7 Dualistic Economy
8 Lack of Infrastructures
9 Lower Productivity
10 High Consumption and Low Saving
4.)It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no
In support the motion that poverty has a woman face,To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture .
1. Shigeo Kobayashi, Jia Baobo and Junya Sano
Introduction
The Chinese Economy since the Start of the Reform and Open-door Policy
The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.
2. Three criteria are used to decide whether or not a country is a Low Developing Country(LDC): A measure for per capita income, a human assets index and an economic and environmental vulnerability
3 High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
b .High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
4. I AGREE
Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship, say MEPs in a non binding resolution adopted on Tuesday. Two other resolutions look at measures to combat gender stereotyping in the EU and to protect women’s rights in North Africa.
1. The Chinese Economy Since Reform and the Open-Door Policy Began
The approval of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978 marked the beginning of China’s reform and open-door policy. The Chinese government started to pursue an open-door policy under the direction of Deng Xiaoping, who had returned to the political scene following his three previous defeats. He took a position to achieve economic growth through the active introduction of foreign capital and technology while maintaining his commitment to socialism.
Its economy and society were decimated by the Cultural Revolution, thus it was clear that this policy change was intended to help them recover. The change in policy also appears to have been motivated by the realization that the average Chinese income was so low compared to incomes in other Asian economies that unless something was done to raise living standards for its citizens through economic growth, the future of the Chinese state and the communist regime would be in jeopardy.Following that, the government created a number of locations for foreign investment, including special economic zones, open coastal cities, economic and technological development zones, open delta zones, open peninsula zones, open border cities, and high-tech industry development zones. The creation of these zones served as the catalyst for significant inflows of foreign investment, mostly from Hong Kong and Taiwanese businesses. China simultaneously advocated the idea of a socialist market economy. As a result of the developments, China experienced an entrepreneurial boom that gave rise to a sizable number of new enterprises and entrepreneurs.
China was able to quickly expand its economy because to the influx of foreign cash, technology, and managerial know-how.
The early half of the 1980s saw a period of rapid economic expansion as a result of the policy. Around the time of the Tiananmen Square Incident in 1989, the economy slowed down, but in the first part of the 1990s, China was once more able to brag of strong growth rates. A surge in per capita GDP accompanied rapid economic growth (Fig. 1). Although it was still still about US$770 per person in 1998, per capita income had increased by 14 times since 1980. It is possible to infer that Deng Xiaoping’s first objective, which was to raise the standard of living for the populace, has been realized.
2.A country is classified as a Low Developing Country (LDC) based on three factors: a measure of per capita income, a human assets index, and an index of economic and environmental vulnerability. Low income nations are those with GNI per capita less than $1,035; lower middle income nations are those with GNI between $1,036 and $4,085; upper medium income nations are those with GNI between $4,086 and $12,615; and high income nations are those with GNI over $12,615 per capita. The UN list included 46 nations as of the end of 2021.
3a.Low real per capita income
One of the most distinguishing features of underdeveloped economies is a low real per capita income. Their low real per capita income level causes them to have less saved and invested.
It indicates that the typical worker doesn’t make enough money to save or invest. They squander all they earn. As a result, the majority of the population struggles to break out of the poverty cycle it fosters. In emerging nations, a large proportion of individuals live in absolute poverty, or the lowest possible income level.
b. High Rate of Population Growth
Having a large population or experiencing rapid population expansion is another trait shared by developing nations. This occurs frequently due to a lack of family planning alternatives and the perception that having more children will increase the family’s ability to support themselves financially. This growth in recent decades may be attributable to greater birth rates and declining mortality rates as a result of better healthcare.
C.Continuity with the Primary Sector
In low-income nations, the majority of people live in rural areas. The demand structure changes as income levels rise, which causes a rise in the manufacturing sector first and then the services sector.
4. I concur;
According to MEPs in a non-binding resolution passed on Tuesday, women suffer from budget and social spending cuts caused by the crisis more than men do, and this must be countered by funding job training and female entrepreneurship. Two more resolutions examine ways to preserve women’s rights in North Africa and to prevent gender stereotypes in the EU.
The effects of the world economic crisis will be particularly felt by women.
Girls will suffer more than boys in areas like schooling and newborn mortality.
– Any strategy for economic development ought to take the situation of women into account.
Washington, D.C., May 15 – The global economic crisis will have particularly detrimental effects on African women’s individual incomes and the budgets they oversee on behalf of their households.
Odo chimdiuto joy
Economics department
2019/241990
3.Clearly discuss and analyse the Common Characteristics of Developing Nations
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy
4.. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no
Yes l.agree
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.
Girls and women in households bear a disapporpriate share
Of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income-earning opportunities.
Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty.
A focus on poor women as distinct from men in efforts to reduce poverty is justified because women’s paid and unpaid work is crucial for the survival of poor households.
Women are economic actors: They produce and process food for the family; they are the primary caretakers of children, the elderly and the sick; and their income and labor are directed toward children’s education, health and well-being. In fact, there is incontrovertible evidence from a number of studies conducted during the 1980s that mothers typically spend their income on food and health care for children, which is in sharp contrast to men, who spend a higher proportion of their income for personal needs. A study conducted in Brazil, for example, found that the positive effect on the probability that a child will survive in urban Brazil is almost 20 times greater when the household income is controlled by a woman rather than by a man
Yet women face significant constraints in maximizing their productivity. They often do not have equal access to productive inputs or to markets for their goods. They own only 15 percent of the land worldwide, work longer hours than men and earn lower wages. They are overrepresented among workers in the informal labor market, in jobs that are seasonal, more precarious and not protected by labor standards.
Despite this, policies and programs that are based on notions of a typical household as consisting of a male bread-winner and dependent women and children often target men for the provision of productive resources and services. Such an approach widens the gender-based productivity gap, negatively affects women’s economic status, and does little to reduce poverty. Addressing these gender biases and inequalities by intentionally investing in women as economic agents, and doing so within a framework of rights that ensures that women’s access to and control over productive resources is a part of their entitlement as citizens, is an effective and efficient poverty reduction strategy.
Name: Okeke Michael Obinna
Reg no: 2019/250019
Dept: Combined Social Science(Economics/ Pol science)
Course: Eco 361
1. Both China and India, as large and populous nations with distinct social and economic systems, have played a significant role in shaping the political landscape of the Third World and influencing the relationships between Third World countries and industrialized nations. China, as a communist country, has promoted socialist ideologies and supported socialist movements in other countries, while India, with its mixed economy and democratic government, has advocated for non-aligned and independent policies. These contrasting approaches have had a significant impact on the political and economic development of Third World countries.
2. Traditionally, developing countries have been defined based on their Gross National Income (GNI) per capita per year. The World Bank uses a threshold of $1,026 per capita to determine which countries are considered “developing” and which are considered “developed.” However, the United Nations and other Bretton Woods institutions such as the International Monetary Fund (IMF) and the World Bank have developed a wide range of other criteria and indicators to measure development and underdevelopment. These include measures of poverty, health, education, gender equality, and access to basic services such as clean water and sanitation. Additionally, these organizations also use indicators that measure economic growth, infrastructure, and governance to determine the level of development. The Human Development Index (HDI) is an example of the composite index which measures a country’s average achievements in three basic dimensions of human development: a long and healthy life, access to knowledge and a decent standard of living.
3. Developing nations, also known as less developed or underdeveloped countries, share a number of common characteristics. These include:
1. Low income: Developing nations typically have lower per capita income compared to developed countries. This is often reflected in a higher poverty rate and lower standard of living for the majority of the population.
2. Weak economic infrastructure: Developing nations often have weak economic infrastructure, including inadequate transportation and communication systems, which can impede economic growth and development.
3. Dependence on primary products: Developing nations are often heavily dependent on the export of primary products such as agricultural goods or raw materials, which can make their economies vulnerable to fluctuations in world prices.
4. High population growth: Developing nations often have high population growth rates, which can place strain on resources and make it more difficult to achieve sustainable economic growth.
5. Low level of human development: Developing nations often have lower levels of human development, as measured by indicators such as life expectancy, literacy, and access to basic services such as healthcare and education.
6. Political instability: Developing nations are often characterized by political instability, with a weak rule of law and a lack of democratic institutions. This can make it difficult to implement policies necessary for sustainable economic development.
7. Income inequality: Developing nations are often characterized by high levels of income inequality, which can perpetuate poverty and impede economic growth.
8. Environmental degradation: Developing nations are often at a greater risk of environmental degradation, with weak or absent regulations to protect natural resources and poor infrastructure to manage pollution
4. The statement “poverty has the face of a woman” refers to the idea that women are disproportionately affected by poverty. This is generally true, as women tend to have lower incomes, less access to education and job opportunities, and greater responsibilities for caregiving and household work. This can make it more difficult for women to escape poverty and can also lead to a perpetuation of poverty within families and communities.
I agree that women are disproportionately affected by poverty. There are various reasons for this. One is that women tend to have lower levels of education and job skills, which can limit their employment opportunities and earning potential. Women also tend to be concentrated in lower-paying and less secure jobs, such as domestic work and caregiving, which can make it difficult for them to support themselves and their families. Additionally, women often have primary responsibility for caregiving within families, which can limit their ability to work and earn an income.
Discrimination and discrimination also play a significant role in exacerbating poverty among women. In many countries, women have limited legal rights and face discrimination in the workplace, which can make it difficult for them to find and keep jobs. In addition, cultural and societal norms can lead to discrimination against women in education and in access to credit and other financial resources.
In conclusion, while poverty affects both men and women, women are disproportionately affected by poverty due to a combination of factors including discrimination, lack of education and job skills, limited access to financial resources and societal norms. To address poverty among women, it is important to focus on increasing access to education, job training, and financial resources for women, as well as working to change discriminatory cultural norms.
Name:Asogwa Rejoice Chinecherem
REG NUMBER:2019/242727
DEPARTMENT:ECONOMICS DEPARTMENT
1-In order to have a good understanding of the early dynamics of the relationship between
the People’s Republic of China’s and India after 1949, it is important to situate it within the broader context of the evolution of Chinese foreign policy prior to the establishment of the new Chinese state. Mao Zedong was greatly interested in world affairs. In October 1938, he foretold the “massive war that threatens mankind.”3 His primary interest was in exploring how China might benefit from the war and, more specifically, what advantage the Chinese communists might gain from the intensifying differences between Japan and the United States on the one hand, and from the possibility of better relations between the Soviet Union and the United States on the other. After Germany attacked the Soviet Union in 1941, Mao talked of a global anti-fascist front with China as a leader alongside Great Britain, the Soviet Union, and the United States. The emphasis on China as a front-rank global power despite its relative weakness was a regular theme in his writings.4 After the tide turned in favor of the allied powers, Mao talked about a postwar order that would be shaped collectively by these four countries,5 and claimed that China would also play “a very great role in safeguard- ing peace in the postwar world and a decisive one in safeguarding peace in the east.”6 By China he meant the Chinese Communist Party (CCP). From Mao’s speeches, it was clear that the CCP saw China’s postwar role as that of the front-rank world power that would play the central role in safeguarding peace in Asia.
The other major foreign policy preoccupation of the CCP prior to 1949 was the attitude of and relationship with the United States. It initially believed that Washington was not averse to accommodation, but disillusionment had set in by the end of 1946. Zhou Enlai com- plained that the American envoys were deceitful.7 Mao and Zhou labeled the Americans as imperialists and talked about an anti-imperialist front headed by the Soviet Union.8 In 1949, Zhou demanded that the United States withdraw all its military forces from China, saying: “We have the right to wipe them out.”9 From that point on, the United States was seen as the existential threat. Mao announced his decision to “lean” to the side of the Soviet Union and to form a united front against U.S. imperialism.10
Thus, when the People’s Republic of China was established in October 1949, two central narratives formed in the CCP: that China was the dominant Asian power without an equal in the region and that the United States was the primary adversary. Since the party and the state were fused indistinguishably, these two narratives were hardwired into the machinery of the new regime.
Where did India fit into this Chinese worldview? Jawaharlal Nehru, who would eventually be India’s prime minister, and Mao corresponded with each other in the 1930s.11 In August 1939, Nehru visited China and met Mao’s colleagues in Chongqing. By early 1942, then president Chiang Kai-shek was expressing support for India’s independence.12 Given Mao’s interest in world affairs, he would have known about India’s anti-imperialist struggle against the British, but neither Mao nor Zhou referred to this in their writings before 1945, even
as many Asian and African colonies were following India’s lead, not China’s. They made only general references to the freedom struggle in the colonies.13 From an interview that Mao gave to the American journalist Edgar Snow in 1936, it seems that he was not willing to acknowledge India’s leadership in the fight to liberate Asia from colonial rule. Mao told Snow that, “when the Chinese revolution comes to full power, the masses of many colonial countries will follow the example of China.”14 The Chinese revolution was deemed to be the “most important event” in postwar “Afro-Asia.”15 The strategic thinking of the CCP leaders was dominated by the idea of China as the center of the communist movement and the Third World.
In 1954, Mao divided the beneficiaries of the Second World War into three categories: the United States, countries like China that were led by communist or socialist parties, and
the “oppressed nations” like India that were not led by communist parties but by “patriotic organizations.”16 This suggests that India belonged in a lesser category for the CCP, presum- ably because its revolution was incomplete. Although the Indian National Congress was the dominant anti-imperial force, in 1943, Mao had made a specific reference to the Communist Party of India as “joining us in opposing Japanese imperialism.”17 Mao was hoping that India’s freedom might usher in a like-minded socialist government.
Aside from the fact that the CCP did not consider India’s role in Asia as being as important as its own and did not look upon it as an equal, declassified papers also reveal that there was deep distrust of the country within the highest levels of the Chinese party-state from the beginning. Mao had a negative view of Nehru. On November 19, 1949, he wrote to Bhalchandra Trimbak Ranadive, the general secretary of the Communist Party of India, calling Nehru a “collaborator” (he zuo zhe) of imperialism.18 His view of India as being on the other side of the postwar political divide may have deepened because of India’s neutral position vis-à-vis the two major blocs. Nehru wished to follow an independent foreign policy. But, even though Nehru said that “we do not propose to line up with any activity that may appear to be against China,”19 for Mao everybody had to “lean either to the side of imperialism or to the side of socialism. Sitting on the fence will not do, nor is there a third road.”20 In Chinese eyes, India was not part of the socialist bloc and was therefore part of
the imperialist bloc. The CCP labeled Nehru a “thoroughly loyal servant of US imperialism” and the “American running dog” seeking a leadership role in Asia from his U.S. “mas- ters.”21 China’s new leaders plotted with the Soviets for a communist takeover in India. In December 1950, Chinese leaders Liu Shaoqi and Zhou Enlai were urging the Soviet Union to strengthen the Communist Party of India “in connection with the role that India should play in the final destruction of international imperialism.”22
One could conclude that for China there was no mind-space for India as an independent player in postwar international relations since it was neither China’s equal nor ideologically aligned. India was tagged as a part of the imperialist-capitalist camp led by the United States. By implication, that meant India had no agency of its own, did not act independently, and could not be trusted. This did not mean the CCP had no use for India in the early years. It had decided to combat the U.S. challenge by adopting “united front” tactics.23 The strat- egy, according to Zhou, was “to consolidate and develop the strength of the international forces for peace [meaning the socialist countries] and to extend the influence of New China [by uniting] with and win[ning] over the former colonial and semi-colonial states.” He was even more specific about the countries of Southeast Asia: “We should try to win them over,” he said, “so that they will remain neutral in time of war and keep their distance from the imperialists in times of peace.”24 In other words, the strategy was to deny the United States further space among the newly independent countries in the region surrounding China by building “Asian solidarity.” This involved persuading Asian governments that it was in their best interest to remain neutral and to help China to build a postwar Asia for Asians. India was a principal target of persuasion in the implementation of this policy.
Thus, the core of China’s India policy consisted of two main strands. First, India must
be deterred from becoming an US camp follower, and policy should be crafted to keep it neutral on important matters of concern to China. Second, India’s standing and influence in the developing world should be utilized to build “Asian solidarity” as a bulwark to stop further U.S. inroads into Asia.
Keeping India away from the United States became a key objective of China’s policy.25 Persuasion and pressure were used for this purpose. In August 1949, a senior Chinese diplomat, Han Nianlong, told India’s ambassador to the Nationalist government, K. M. Panikkar, that “the only thing that could prevent the development of such [India-China] relations is if India permitted herself to be used as a base for American activities.”26 In 1952, Zhou accused the United States of “trying to disrupt this [India-China] friendship.”27 In 1954, Mao claimed that the United States was “bent on harming us whenever it has the opportunity,” and hinted that this would not be good for India either.28 The CCP mounted pressure on India’s leaders by talking about a U.S. “conspiracy against the freedom of Asia,”29 or by claiming, as Mao did in 1954, that “we, people of the east” have to cope with imperi- alism and protect each other.30 In order to keep India away from the United States, China always framed issues in the context of imperialist versus newly independent states, and also in terms of Asian peoples determining their own destiny. In other words, framing that India could relate to.31 By the mid-1950s, Nehru was telling his ambassador to Beijing that India was closer to China than to the United States.32 India began to undertake domestic and in- ternational advocacy on behalf of the CCP. In October 1954, Nehru claimed that there was “no doubt at all that the government and people of China desire peace.”33 India even made a case for China at the 1956 Commonwealth Heads of Government Meeting by claiming that “it seemed unlikely that they would harbor aggressive intentions against any other country,” describing the main problem at hand as U.S. hostility to China.34
The second objective of China’s India policy was to create a belt of neutral Asian nations in the proximate and peripheral regions around itself so that the United States would not be able to contain it. Once again, China resorted to “united front” tactics. In 1950, Zhou told
a senior Indian diplomat, T. N. Kaul, that “all the Asian countries must be united on the basis of friendship, peace and mutual respect in order to oppose any imperialist aggression.”35 In 1954, he flew down to India with the express purpose of “conducting preparation work for signing some form of Asian peace treaty and to strike a blow at the US conspiracy to organize a south east Asian invasive bloc (SEATO).”36 The CCP saw the 1955 Asian-African Conference in Bandung as a good platform to build an anti-U.S. front in the name of Asian solidarity.37 It categorized countries as ranging from “peace and neutral” to “anti-peace and anti-neutral,” with specific instructions on how to approach the different categories under the “general line of expanding the united front of peace.”38 India was a key instrument for executing this strategy. The CCP worked through Asian leaders to secure outcomes that served the objective of building an Asian front against the United States.39 A subordinate goal of China’s policy at this time, particularly around the Bandung Conference, might also have been to use India to develop agency for China by building a Third World constituency independent of the Soviet Union.
The Bandung Conference marked the high point of China’s early India policy. Since China had crafted relations with India within the matrix of great power relations and with the pri- mary objective of keeping it neutral, the policy worked so long as India shared the Chinese perspective on great power relations, addressed China’s core concerns in this larger context, and did not press its own issues. China seemed to expect that India would share its big-pic- ture approach and treat its own concerns as local issues to be discussed but not allowed to upset the overall framework. In the second half of the 1950s, after India started to articulate bilateral concerns, China still viewed these only through the prism of great power relations and not a bilateral one. It concluded that India was using problems like Tibet (which was internal to China) or the border dispute (with India’s claim seen as illegal) to earn support from the United States. This argument also fit in with the CCP’s ideological thinking about the Indian government as a bourgeois ruling class that was capitalist and not to be trusted. This impression gained further ground after the Tibetan rebellion and the flight of the Dalai Lama in March 1959, and following the warm welcome that India gave then U.S. president claimed that India was stirring up trouble in Tibet with active assistance from the United Kingdom and the United States.40 At the same time, China also viewed the budding Indo- Soviet relationship with concern after the visit of Soviet leaders Nikita Khrushchev and Nikolay Bulganin to India in 1955, and especially after the sharp exchanges over India that took place between Khrushchev and Mao Zedong in Beijing in October 1959.41
Shifting equations within the strategic triangle further complicated China’s India policy after 1958. The CCP saw the U.S. military buildup in the Taiwan Strait as preparation for an invasion—“play[ing] with fire at the brink of war” is how Zhou Enlai described it.42 After Khrushchev’s visit to Washington in September 1959, the CCP felt that the two superpowers mightq be colluding against it.43 Its biggest fear was U.S.-Soviet coordination on matters relating to China, including on its relations with India. In this changed context of triangular great power relations, China adjusted its policy to keep India neutral. Propaganda was toned down after May 1959. Mao personally drafted a conciliatory message.44 Ambassador Pan Zili said that “China will not be so foolish as to antagonize the US in the east and again to an- tagonize India in the southwest,” and added that “we cannot have two centers of attention, nor can we take friend [India] for foe. This is our state policy.”45 In September 1959, Zhou told the Indian ambassador about the great importance of Chinese-Indian friendship for Asia.46 It is believed that in January 1960, the CCP’s Politburo Standing Committee adopted guidelines for negotiating a compromise on the boundary question.47 It can be inferred that this tactical adjustment in India policy was in response to the deteriorating strategic environ- ment around China.
Zhou Enlai’s visit to Delhi in April 1960—when he carried Mao’s message that China’s “enemy lies in the east and will come by the sea. We take India as a friendly country and we cannot turn our southern border into a national front,” and a proposal to settle the bound- ary48—was not successful. It reinforced the Chinese view that India was seeking to benefit from the unfavorable situation confronting China. The assessment from the Chinese em- bassy in Delhi was that “opposition to China and communism and dependence on America and foreign expansion are the Indian ruling circle’s long-term guiding principles for foreign policy; a focal point of these guiding principles is long-term hostility toward China.”49 The CCP concluded that India’s posture on the boundary was part of an overall design under U.S. coordination to pressurize China from two fronts.50 That China looked at developments not simply from a bilateral perspective but within the context of great power triangular relationships is clear from a statement attributed to Mao. He is reported to have said that
Our fight with India is a complicated international question; it is not that only India is a problem, both the US and USSR and others are supporting India. They think they can teach us a lesson by dragging us into the arena at a time when we are in difficulty. But we shall not succumb to their scheme.
why Mao described the 1962 border war as a politico-military war (zhengzhi junshi zhang). He decided on the strategy, tactics, and timing with a twofold goal: to show the superpowers that India was not a dependable Asian partner and to coerce India back to a neutral posture.
The border war achieved little. It did not draw India back to a neutral posture—on the con- trary, Nehru called the war the “final culmination of the deterioration in relations between India and China.”52 India sought military assistance from the West. Chinese hopes that India might be more amenable to resolving the boundary question did not pan out.53 This is a recurring problem for China—by relying on coercion, it produces the opposite result from what it says it wants. Proposals by Zhou Enlai in December 1962, March 1963, and April 1963 to resume negotiations, as well as his statement that “we have not given up our desire for friendship with India,”54 drew cold responses from India. Instead of resetting relations, China’s actions led to a freeze for a quarter of a century. China’s goal of Asian solidarity as an anti-U.S. front suffered and its India policy collapsed.
Before drawing conclusions about this first phase of China’s India policy, two other prop- ositions need addressing. First, there is a view that the inner-party struggle that Mao was waging over economic policy during the Great Leap Forward may have impacted relations with India. This paper does not examine the immediate circumstances leading to the border war. It is possible that the domestic economic crisis and simultaneous deterioration of the environment along the India-China boundary were correlated so far as the scope and timing of the Chinese attack on India in concerned. But there is evidence that points to a fair degree of consensus within the CCP leadership on the handling of India from 1959 until
the border war, notwithstanding a letter from Wang Jiaxiang, formerly the ambassador to the Soviet Union, to Zhou Enlai in February 1961 that new methods should be employed to break through the impasse over the boundary question.55 On the whole, China’s India policy appears to have been a collective decision. Second, there is the Tibet factor to consider. This was undoubtedly a bilateral concern in the early years, but China’s initial deep concerns
over India’s intentions had been resolved by 1954. Chinese writings, including leadership statements, in the latter part of the 1950s are usually concerned with the Anglo-U.S. efforts in Tibet. India’s role is generally viewed from this broader perspective.
Three conclusions might be drawn from this first phase of China’s India policy. First, China regarded India as unequal, ideologically aligned with the West, and therefore untrustworthy. Second, its India policy was determined by the interplay of great power relations. The main objective was to relieve strategic pressure on China and this shaped tactics with India. Third, India may have let pass an opportunity that presented itself between mid-1959 and the end

2-Indicators for measuring development and under development :
(I) Gross National Income Per Capita (PPP)
Gross National Income Per Capita – is GNI divided by the population of a country, so it’s GNI per person.
(PPP) stands for Purchasing Power Parity – which alters the raw GNI per capita data to control for the different costs of living in a country, thus modifying the GNI figure in U.S. dollars to reflect what those dollars would actually buy given the different costs of living in different countries.
Gross National Income Per Capita (PPP) rankings (2013)
• 1st – Qatar – $123 000
• 11th – United States – $53 000
• 23rd – Finland – $38 000
• 27th – United Kingdom – $35 000
• 126th – Nigeria – $5360
• 127th – India – $5350
• 185th – Democratic Republic of Congo – $680
•
• GNI per capita (PPP) gives you a general idea of what the general economic standard of living is like for the average person in a country, however, there are serious limitations with this indicator – the main one being that it does not tell you how much of that income actually stays in a country, or how income is distributed. Quality of life will thus be a lot better for some people, and a lot worse for others than these gross statistics indicate.
• (ii) GNI per capita (PPP) gives you a general idea of what the general economic standard of living is like for the average person in a country, however, there are serious limitations with this indicator – the main one being that it does not tell you how much of that income actually stays in a country, or how income is distributed. Quality of life will thus be a lot better for some people, and a lot worse for others than these gross statistics indicate. Looking at absolute poverty statistics like this gives us a much fuller understanding of the lack of development in certain countries – in DRC, you can clearly see that poverty is endemic (absolute poverty is a significant problem in many Sub-Saharan African countries), and we can also see that absolute poverty is still a significant problem in India (mainly rural India) and while the 6% is quite low in China, this 6% represents 10s of millions of people, given the large overall population size.
• (iii) Proportion of population living below the poverty line within a country
The UN sustainable development goals states that one of its aims (under goal 1) is to ‘reduce at least by half the proportion of men, women and children of all ages living in poverty in all its dimensions according to national definitions’. (Source – The United Nations Sustainable Development Goals)
The United Nations collects this data for countries will lower human development, but not for countries with high human development, and so here we are reliant on data from national governments or other agencies – and the problem here is that different countries measure their ‘poverty line’ in different ways, so this means making cross national comparisons are difficult. Some sources are below:
• Details on how the USA defines its poverty line can be found at this US Census Bureau Website
Selected Stats on the Proportion of People Living Below the Country’s own poverty line:
• Most low income countries with high absolute poverty rates register percentages of between 30-60% living below their own poverty lines.
•
• The USA has 15% of its population living below its poverty line (a household income of around $24000 per annum)
• The UK also has around 15% of its population living below its poverty line, although its line is higher than the US – around $30000.
• (iv) The Human Development Index
The Human Development Index is compiled annually by the United Nations and gives countries a score based on GNI per capita, number of years of actual and expected schooling and life expectancy, or in the words of the UN itself – the HDI is ‘A composite index measuring average achievement in three basic dimensions of human development—a long and healthy life, knowledge and a decent standard of living.’
Selected Countries by Human Development Index rankings (2015)
• 1st – Norway
• 8th – United States
• 14th – United Kingdom
• 24th – Finland
• 32nd – Qatar
• 39th – Saudi Arabia
• 55th – The United States
• 56th – Saudi Arabia
• 90th – China
• India – 130th
• 137th- Bhutan
• 176th – DRC
For the strengths and limitations of the HID, please see my aptly titled post: ‘the strengths and limitations of the Human Development Index’.
• Percentage of children enrolled in secondary school
• (v) The Gender Inequality Index
The United Nations defines the Gender Inequality Index as ‘A composite measure reflecting inequality in achievement between women and men in three dimensions: reproductive health, empowerment and the labour market’.
More specifically, it gives countries a score between 0-1 (similar to the HDI) based on:
• The Maternal mortality ratio: Number of deaths due to pregnancy-related causes per 100,000 live births.
• The Adolescent birth rate: Number of births to women ages 15–19 per 1,000 women ages 15–19.
• Proportion of seats held by women in the national parliament expressed as percentage of total seats.
• The proportion of the female population compared to the male population with at least some secondary education
• The comparative Labour force participation rate for men and women.
2015 Gender inequality index rankings
Selected countries according to their rankings for the Gender Inequality Index
• 1st – Slovenia
• 11th – Finland
• 39th – The United Kingdom
• 55th – The United States
• 56th – Saudi Arabia
• 97the – Bhutan
• 127 – Ghana
• 130th – India Indicators for measuring underdevelopment:
For under development
(I) (i)Low per capita real income
Kuhnen, F. (1986). A low per capita real income is generally regarded as one of the main indicators of underdevelopment. The World Bank has classified the various countries into three broad categories, viz. (a) low-income countries, (b) middle-income countries, and (c) industrials countries . Their population, are and the gross national product per capita
the difference between the developed countries and the underdeveloped countries. The per capita income, on an average, in an underdeveloped countries. The per capita income, on an average, in an underdeveloped country is hardly 2.5 percent of the comparisons are more informative. It would be seen that while on the one extreme we have United Arab Emirates with the highest per capita income of $24,660 in 1981, on the other extreme figures Bhutan with as low capita income as $80. Most of the underdeveloped countries exhibit this very low ratio of income to population. This is a consequence either (a) of low level of national income, or (b) of a high level of population, or (c) of both. A low level of national income may be the result of low productivity , low saving and investment, backward technology and resources, while the level of population is determined by varied social and economic factors.
(ii) Population
Todaro, M., & Smith, S. (2011) Most of the underdeveloped countries experience a higher population growth rate as compares to the developed countries,
Where the growth rates of population are not very high in relation to other countries, the size of population may be very high (e.g., in China and India). The underdeveloped countries generally experience high birth rates but advancement of medical science had led to a significant reduction in the death rates. This has resulted in most of the underdeveloped countries passing through the second stage of demographic transition, also known as the stage of ‘Population Explosion’. Two major consequences of the population explosion have been : (a) A significant growth in the number of people who live on the subsistence or ‘poverty line’. The poverty line is defined as the line of minimum calorie intake for bare subsistence. (b) A significant growth in the number and proportion of unemployed people who tend to migrate, chiefly from the countryside to the cities, on search of employment.
(iii) Unemployment, Underemployment, disguised unemployment and low productivity
Yotopoulos, P. A. (1965) A characteristic common to most of the underdeveloped countries is the existence of widespread unemployment. Unemployment is caused by a number of factors like (a) the population pressure, (b) a low level of economic activity, (c) poor growth rates, (d) the choice of capital-intensive technique of production, (e) unrealistic education, (f) rigidity of the wage structure, and (g) lack of investment opportunities. One or more of these causes may be operating simultaneously. Reliable information about size of unemployment in the underdeveloped countries is lacking, but most of the studies undertaken in this respect suggest that the proportion of unemployment in underdeveloped countries may be between 8 per cent and 35 per cent of the total labour force.
Another related phenomenon is that of underdevelopment. The basic features of this situation are : (a) the type of employment is not much related to the qualifications of the employees, (b) wages are above the marginal productivity of labour, and (c) a large number of labour-hours remain unutilized. Again, no statistically accurate measurement the unemployed is available, but it has generally been estimated that the unemployed and the underemployed together in the underdeveloped countries would be about 30 per cent of the total work force.
Disguised unemployment refers to unemployment which is ‘hidden’, i.e., not open for anyone to see. A number of persons who may apparently be employed may not be contributing anything to production, In technical jargon, the disguised unemployed are those who are so numerous, relative to the resources, that the marginal physical productivity of labour over a wide range is zero, of not negative.
This situation obtains exclusively, or predominantly, in the agricultural sector, where family labour and non-wage employment predominate.
Unemployment, Underemployment and disguised unemployment result from the fact that labour in the underdeveloped countries is relatively abundant in relation to capital and the productivity of labour or usually low in most underdeveloped countries in comparison with such productivity in the developed countries. Low productivity in the under-developed and other resources, (b) backward technology, (c) lack of proper education, (d) inferior training and skill, and (e) poor health and nutrition. Unemployment is the major cause of widespread poverty in the underdeveloped countries.
(iv) Poverty
Oshima, H. T. (1990). Poverty is widespread in the underdeveloped countries. The fact that about one-half of the total population of the world subsists on an annual average per capita income of only $270 (1981prices) is in itself quite revealing. But this single macro-variable hides many things. A further deeper probe is more informative. Various studies conducted to determine the level of poverty have shown that a substantial proportion of the population (about 30 per cent) in the underdeveloped countries earns. A level of income which varies between $50 and $75 per annum. This is regarded as the minimum necessary for subsistence in these countries. This figure in itself is staggering and more recent evidence may well suggest that the present situation must have deteriorated further. The growing poverty juxtaposed with the fact the incomes have been growing in the underdeveloped countries suggests that there must be something wrong with the income distribution in these countries.
3-Various developing countries differ a good deal from each other. Some countries such as countries of Africa do not face problem of rapid population growth, others have to cope with the consequences of rapid population growth. Some developing countries are largely dependent on exports of primary products, others do not show such dependence, and others do not show such dependence.
Some developing countries have weak institutional structure such as lack of property rights, absence of the rule of law and political instability which affect incentives to invest. Besides, there are lot of differences with regard to levels of education, health, food production and availability of natural resources. However, despite this great diversity there are many common features of the developing economies. It is because of common characteristics that their developmental problems are studied within a common analytical framework of development economics.
COMMON CHARACTERISTICS OF DEVELOPING NATIONS
1. Low Per Capita Income:
The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan. According to these estimates for the year 1995, per capita income was $340 in India, $ 620 in China, $240 in Bangladesh, $ 700 in Sri Lanka. As against these, for the year 1995 per capita income was $ 26,980 in USA, $ 23,750 in Sweden, $ 39,640 in Japan and 40,630 in Switzerland.
It may however be noted that the extent of poverty prevailing in the developing countries is not fully reflected in the per capita income which is only an average income and also includes the incomes of the rich also. Large inequalities in income distribution prevailing in these economies have made the lives of the people more miserable. A large bulk of population of these countries lives below the poverty line.
For example, the recent estimates reveal that about 28 per cent of India’s population (i.e. about 260 million people) lives below the poverty line, that is, they are unable to get even sufficient calories of food needed for minimum subsistence, not to speak of minimum clothing and housing facilities. The situation in other developing countries is no better.
2. Excessive Dependence on Agriculture:
A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
In the present-day developed countries, the modern industrial growth brought about structural transformation with the proportion of working population engaged in agriculture falling drastically and that employed in the modern industrial and services sectors rising enormously. This occurred due to the rapid growth of the modern sector on the one hand and tremendous rise in productivity in agriculture on the other.
3. Low Level of Capital Formation:
The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
Since then there has been substantial increase in the rate of saving and investment in the developing countries. However, the quantity of capital per head is still very low in them and therefore productivity remains low. For example, in India rate of investment has now (2012-13) risen to about 35 per cent but it still remains a poor country with low level of productivity. This is because as a result of rapid population growth, capital per head is still very low.
4. Rapid Population Growth and Disguised Unemployment: The diversity among developing economies is perhaps nowhere to be seen so much in evidence as in respect of the facts of their population in respect of its size, density and growth. While we have examples of India, Pakistan and Bangladesh with their teeming millions and galloping rates of population growth, there are the Latin American countries which are very sparsely populated and whose total population in some cases numbers less than a single metropolitan city in India and China. In several newly emerging countries of Africa too and in some of the Middle Eastern countries the size of their population cannot be regarded as excessive, considering their large expanse. The South- East and Eastern Asia, on the other hand, have large populations.
However, there appears to be a common feature, namely, a rapid rate of population growth. This rate has been rising still more in recent years, thanks to the advances in medical sciences which have greatly reduced the death rate due to epidemics and diseases. While the death rate has fallen sharply, but there has been no commensurate decline in birth rate so that the natural survival rate has become much larger. The great threat of this rapid population growth rate is that it sets at nought all attempts at development in as much as much of the increased output is swallowed up by the increased population.
One important consequence of this rapid rate of population growth is that it throws more and more people on land and into informal sector to eke out their living from agriculture, since alternative occupations do not simultaneously develop and thus are not there to absorb the increasing numbers seeking gainful employment. The resultant pressure of population on land and in informal sector thus gives rise to what has been called “disguised unemployment”.
Disguised unemployment means that there are more persons engaged in agriculture than are actually needed so that the addition of such persons does not add to agricultural output, or putting it alternatively, given the technology and organisation even if some of the persons are withdrawn from land, no fall in production will follow from such withdrawal. As a result, marginal productivity of a wide range of labourers employed in agriculture is zero.
5. Lower Levels of Human Capital:
Human capital – education, health and skills – are of crucial importance for economic development. In our analysis of human development index (HDI) we noted that there is great disparity in human capital among the developing and developed countries. The developing countries lack in human capital that is responsible for low productivity of labour and capital in them.
Lack of education manifests itself in lower enrolment rate in primary, secondary and tertiary educational institutions which impact knowledge and skills of the people. Lower levels of education and skills are not conducive for the development of new industries and for absorbing new technologies to achieve higher levels of production. Besides, lack of education and skills makes people less adaptable to change and lowers the ability to organise and manage industrial enterprises. Further, in countries like India, advantage of demographic dividend can be taken only if the younger persons can be educated, healthy and equipped with appropriate skills so that they can be employed in productive activities.
The data of various education indicators is given in Table 4.3. It will be seen from this table that as compared to high income countries enrolment in secondary and tertiary educational institutions was 38% and 63% of person of relevant age group in 2009 as compared to 100 per cent in high-income developed countries.
6. Dualistic Structure of the Underdeveloped Economies:
An important feature of developing economies, especially those which are marked by surplus labour is that they have a dualistic structure. This dualistic character of these economies has been held to be the cause of unemployment and underemployment existing in them. Keeping in view this dualistic structure of less developed economies, important models of income and employment have been propounded.
Famous Lewis model of economic development with unlimited supplies of labour and Fei-Ranis model of “Development in a Labour Surplus Economy” explain how in dualistic economies, the unemployed and underemployed labour in the traditional sector is drawn into a modern high productivity sector.
3-Globally, poverty remains a challenge: the World Bank estimates that 1.29 billion people live in absolute poverty; the sad fact is that about 70 per cent of them are women. In Pakistan, it is no different, but without a national census, it isn’t even possible to gauge the correct picture. Poverty is difficult to quantify: the methodology used by the government has been challenged by the World Bank and the UNDP, while independent organisations consider poverty
However, according to the Human Development Index, 2009, 60.3pc of Pakistan’s population lives on $2 per day. According to Unesco, 71pc of eligible girls did not attend secondary school in 2009. Gender discriminatory practices shape poverty: as expected, more women are at the suffering end. They suffer poverty of opportunities far more than men. Poverty gives rise to social powerlessness and political disenfranchisement, and these add to the vulnerability of the poor.
The reasons for such high poverty levels are several: corruption, illicit capital flight, debt and loan conditionalities, high defence expenditures, and now, extremism. Those are the general ones.
To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
The risks of increasing poverty grow in parallel with the number of women-headed households. Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
It is no surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.
Unsurprisingly, few poor women have hope of escaping this poverty as there are so many odds stacked against them. Despite laws that favour them, even richer women are regularly denied land inheritance by emotional coercion, forced marriage and even by ‘marriage’ to the Quran.
The current political situation prevailing in the country presents a mixed picture for women’s progress and development. On the one hand, there are several forward-looking laws and amendments, widespread provision of safety nets like the Benazir Income Support Programme and increased school enrolment for girls. On the other hand is the snail’s pace at which the bureaucracy moves to implement those laws. Then again, there’s society’s stubbornly ‘eyes shut’ attitude to women’s rights and progress, the lack of recognition that women’s progress requires an acceptance of their constitutionally guaranteed equal status as citizens of this country.
If women are to progress and participate effectively in the economy, they must receive equal education, equal training, in rural and urban sectors and equal dignity and income. Pakistan cannot achieve progress on the efforts of less than half its population.
What does Poverty look like for the clients at Nellies? This is what women had to say at W.E.A.V our Women Ending Violence Support Group
• “Working everyday 2 or even 3 jobs and we don’t make enough to put food on our table every day.”
• “Sometimes I don’t eat dinner—that way my kids have enough.”
• “Poverty, struggling to survive, trying to stay alive.”
• “Homeless, living on the street, trying to find something to eat.”
• “Depressed, angry, hungry, frustrated, lonely and isolated.”
• “You can’t get money and you can’t find a job and that’s sad.”
Many factors cause women’s poverty including: lack of access to education, opportunities, childcare and fair income, sex-role stereotypes in paid work, changes in family composition such as divorce, health, violence and abuse, leaving gainful employment to caregive, and greater risk and increased poverty for women who are Aboriginal, non-white, disAbled or queer.
Women as the face of poverty results in children who are poor. Poverty among children is strongly linked to ill-health and poor academic achievement. By keeping women poor, we are also keeping children poor, making them sick, sabotaging their futures, contributing to crime, and perpetuating the cycle of poverty and violence. We need to work together to effect change social changes that will help not just some, but all women and children to succeed.
1.
The idea of the Third World, which is usually traced to the late 1940s or early 1950s, was increasingly used to try and generate unity and support among an emergent group of nation-states whose governments were reluctant to take sides in the Cold War. These leaders and governments sought to displace the ‘East-West’ conflict with the ‘North-South’ conflict. The rise of Third World in the 1950s and 1960s was closely connected to a range of national liberation projects and specific forms of regionalism in the erstwhile colonies of Asia and Africa, as well as the former mandates and new nation-states of the Middle East, and the ‘older’ nation-states of Latin America. Exponents of Third World in this period linked it to national liberation and various forms of Pan-Asian, Pan-Arabism, Pan-Africanism and Pan-American. The weakening or demise of the first generation of Third World regime in the 1960s and 1970s coincided with or was followed by the emergence of a second generation of Third World regimes that articulated a more radical, explicitly socialist, vision. A moderate form of Third World also became significant at the United Nations in the 1970s: it was centred on the call for a New International Economic Order (NIEO). By the 1980s, however, Third Worldism had entered into a period of dramatic decline. With the end of the Cold War, some movements, governments and commentators have sought to reorient and revitalize the idea of a Third World, while others have argued that it has lost its relevance. This introductory article provides a critical overview of the history of Third World, while clarifying both its constraints and its appeal. As a world historical movement, Third World (in both its first and second generation modalities) emerged out of the activities and ideas of anti-colonial nationalists and their efforts to mesh highly romanticized interpretations of pre-colonial traditions and cultures with the utopianism embodied by Marxism and socialism specifically, and ‘Western’ visions of modernisation and development more generally. Apart from the problems associated with combining these different strands, Third World also went into decline because of the contradictions inherent in the process of decolonization and in the new international politico-economic order, in the context of the changing character, and eventual end, of the global political economy of the Cold War.
2.
Developed countries could be viewed as countries with negligible poverty at such a
poverty line. The taxonomy would dovetail nicely with the development community’s
current strong focus on poverty issues. A drawback is that internationally comparable
poverty data are not very precise and are subject to large revisions as noted above. A bigger
problem with a poverty-based development taxonomy, however, is that the required data are
not drawn directly from official country sources. This makes the taxonomy less tractable and
thus more difficult to gain acceptance. A simple taxonomy is based on per capita income
data. An equally simple taxonomy would use a single social indicator. Life expectancy at
birth would probably be among the stronger contenders. To reflect the multifaceted aspect of
development, consideration could also be given to constructing composite indices of various
economic and social indicators.
A separate, but equally pertinent issue, is how to construct the development threshold. A
threshold can either be absolute or relative. An absolute threshold has a value that is fixed
over time. A relative threshold is based on contemporaneous outcomes. An absolute
threshold provides a fixed goal post. The Millennium Development Goals are cast mostly as
absolute thresholds. However, a relative threshold captures changes in expectations and
values. For example, if in 1950, an absolute development threshold had been established
based on life expectancy at birth with a threshold value of 69 years (the life expectancy in the
US in 1950), Sri Lanka would now be classified as a developed country. While observers of
vintage 1950 may have been comfortable with such a classification of Sri Lanka, current day
observers may not be.
The final step in constructing the taxonomy is to decide on the numerical value of the
threshold. Countries above the x percentile could be designated as developed with remaining
countries considered as developing. Alternatively, countries that have achieved a
development outcome within y percent of the most advanced country could be designated as
developed with remaining countries considered as developing. Any particular threshold
would undoubtedly invite questions about how it had been determined and it could
reasonably be expected that the designer of the taxonomy would provide a rationale for the
threshold.
3.
Major Characteristics of Developing Countries
a. Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries.Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty.
b. Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment and access apart from low per capita income.
c. Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc.
Lack of Infrastructures
d. Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably.
e. Lower Productivity
The productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc.
f. High Consumption and Low Saving
Income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. The higher portion of consumption out of earned income results in a lower saving rate.
4.
Yes, I agree that poverty has the face of a women because of the following reasons :
poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibility to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and fierce figure how you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elderly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equal footing. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men.
Stereotypes and lower pay increase the risk for women to fall into poverty, particularly for older women, also due to low pensions also deprivation of opportunities. Gender inequalities, some restricting rules, early pregnancy and diabolical practices of some cultures has made some women to face high rate of poverty in different ways.
Name:Asogwa Rejoice Chinecherem
REG NUMBER:2019/242727
DEPARTMENT:ECONOMICS DEPARTMENT
1-In order to have a good understanding of the early dynamics of the relationship between
the People’s Republic of China’s and India after 1949, it is important to situate it within the broader context of the evolution of Chinese foreign policy prior to the establishment of the new Chinese state. Mao Zedong was greatly interested in world affairs. In October 1938, he foretold the “massive war that threatens mankind.”3 His primary interest was in exploring how China might benefit from the war and, more specifically, what advantage the Chinese communists might gain from the intensifying differences between Japan and the United States on the one hand, and from the possibility of better relations between the Soviet Union and the United States on the other. After Germany attacked the Soviet Union in 1941, Mao talked of a global anti-fascist front with China as a leader alongside Great Britain, the Soviet Union, and the United States. The emphasis on China as a front-rank global power despite its relative weakness was a regular theme in his writings.4 After the tide turned in favor of the allied powers, Mao talked about a postwar order that would be shaped collectively by these four countries,5 and claimed that China would also play “a very great role in safeguard- ing peace in the postwar world and a decisive one in safeguarding peace in the east.”6 By China he meant the Chinese Communist Party (CCP). From Mao’s speeches, it was clear that the CCP saw China’s postwar role as that of the front-rank world power that would play the central role in safeguarding peace in Asia.
The other major foreign policy preoccupation of the CCP prior to 1949 was the attitude of and relationship with the United States. It initially believed that Washington was not averse to accommodation, but disillusionment had set in by the end of 1946. Zhou Enlai com- plained that the American envoys were deceitful.7 Mao and Zhou labeled the Americans as imperialists and talked about an anti-imperialist front headed by the Soviet Union.8 In 1949, Zhou demanded that the United States withdraw all its military forces from China, saying: “We have the right to wipe them out.”9 From that point on, the United States was seen as the existential threat. Mao announced his decision to “lean” to the side of the Soviet Union and to form a united front against U.S. imperialism.10
Thus, when the People’s Republic of China was established in October 1949, two central narratives formed in the CCP: that China was the dominant Asian power without an equal in the region and that the United States was the primary adversary. Since the party and the state were fused indistinguishably, these two narratives were hardwired into the machinery of the new regime.
Where did India fit into this Chinese worldview? Jawaharlal Nehru, who would eventually be India’s prime minister, and Mao corresponded with each other in the 1930s.11 In August 1939, Nehru visited China and met Mao’s colleagues in Chongqing. By early 1942, then president Chiang Kai-shek was expressing support for India’s independence.12 Given Mao’s interest in world affairs, he would have known about India’s anti-imperialist struggle against the British, but neither Mao nor Zhou referred to this in their writings before 1945, even
as many Asian and African colonies were following India’s lead, not China’s. They made only general references to the freedom struggle in the colonies.13 From an interview that Mao gave to the American journalist Edgar Snow in 1936, it seems that he was not willing to acknowledge India’s leadership in the fight to liberate Asia from colonial rule. Mao told Snow that, “when the Chinese revolution comes to full power, the masses of many colonial countries will follow the example of China.”14 The Chinese revolution was deemed to be the “most important event” in postwar “Afro-Asia.”15 The strategic thinking of the CCP leaders was dominated by the idea of China as the center of the communist movement and the Third World.
In 1954, Mao divided the beneficiaries of the Second World War into three categories: the United States, countries like China that were led by communist or socialist parties, and
the “oppressed nations” like India that were not led by communist parties but by “patriotic organizations.”16 This suggests that India belonged in a lesser category for the CCP, presum- ably because its revolution was incomplete. Although the Indian National Congress was the dominant anti-imperial force, in 1943, Mao had made a specific reference to the Communist Party of India as “joining us in opposing Japanese imperialism.”17 Mao was hoping that India’s freedom might usher in a like-minded socialist government.
Aside from the fact that the CCP did not consider India’s role in Asia as being as important as its own and did not look upon it as an equal, declassified papers also reveal that there was deep distrust of the country within the highest levels of the Chinese party-state from the beginning. Mao had a negative view of Nehru. On November 19, 1949, he wrote to Bhalchandra Trimbak Ranadive, the general secretary of the Communist Party of India, calling Nehru a “collaborator” (he zuo zhe) of imperialism.18 His view of India as being on the other side of the postwar political divide may have deepened because of India’s neutral position vis-à-vis the two major blocs. Nehru wished to follow an independent foreign policy. But, even though Nehru said that “we do not propose to line up with any activity that may appear to be against China,”19 for Mao everybody had to “lean either to the side of imperialism or to the side of socialism. Sitting on the fence will not do, nor is there a third road.”20 In Chinese eyes, India was not part of the socialist bloc and was therefore part of
the imperialist bloc. The CCP labeled Nehru a “thoroughly loyal servant of US imperialism” and the “American running dog” seeking a leadership role in Asia from his U.S. “mas- ters.”21 China’s new leaders plotted with the Soviets for a communist takeover in India. In December 1950, Chinese leaders Liu Shaoqi and Zhou Enlai were urging the Soviet Union to strengthen the Communist Party of India “in connection with the role that India should play in the final destruction of international imperialism.”22
One could conclude that for China there was no mind-space for India as an independent player in postwar international relations since it was neither China’s equal nor ideologically aligned. India was tagged as a part of the imperialist-capitalist camp led by the United States. By implication, that meant India had no agency of its own, did not act independently, and could not be trusted. This did not mean the CCP had no use for India in the early years. It had decided to combat the U.S. challenge by adopting “united front” tactics.23 The strat- egy, according to Zhou, was “to consolidate and develop the strength of the international forces for peace [meaning the socialist countries] and to extend the influence of New China [by uniting] with and win[ning] over the former colonial and semi-colonial states.” He was even more specific about the countries of Southeast Asia: “We should try to win them over,” he said, “so that they will remain neutral in time of war and keep their distance from the imperialists in times of peace.”24 In other words, the strategy was to deny the United States further space among the newly independent countries in the region surrounding China by building “Asian solidarity.” This involved persuading Asian governments that it was in their best interest to remain neutral and to help China to build a postwar Asia for Asians. India was a principal target of persuasion in the implementation of this policy.
Thus, the core of China’s India policy consisted of two main strands. First, India must
be deterred from becoming an US camp follower, and policy should be crafted to keep it neutral on important matters of concern to China. Second, India’s standing and influence in the developing world should be utilized to build “Asian solidarity” as a bulwark to stop further U.S. inroads into Asia.
Keeping India away from the United States became a key objective of China’s policy.25 Persuasion and pressure were used for this purpose. In August 1949, a senior Chinese diplomat, Han Nianlong, told India’s ambassador to the Nationalist government, K. M. Panikkar, that “the only thing that could prevent the development of such [India-China] relations is if India permitted herself to be used as a base for American activities.”26 In 1952, Zhou accused the United States of “trying to disrupt this [India-China] friendship.”27 In 1954, Mao claimed that the United States was “bent on harming us whenever it has the opportunity,” and hinted that this would not be good for India either.28 The CCP mounted pressure on India’s leaders by talking about a U.S. “conspiracy against the freedom of Asia,”29 or by claiming, as Mao did in 1954, that “we, people of the east” have to cope with imperi- alism and protect each other.30 In order to keep India away from the United States, China always framed issues in the context of imperialist versus newly independent states, and also in terms of Asian peoples determining their own destiny. In other words, framing that India could relate to.31 By the mid-1950s, Nehru was telling his ambassador to Beijing that India was closer to China than to the United States.32 India began to undertake domestic and in- ternational advocacy on behalf of the CCP. In October 1954, Nehru claimed that there was “no doubt at all that the government and people of China desire peace.”33 India even made a case for China at the 1956 Commonwealth Heads of Government Meeting by claiming that “it seemed unlikely that they would harbor aggressive intentions against any other country,” describing the main problem at hand as U.S. hostility to China.34
The second objective of China’s India policy was to create a belt of neutral Asian nations in the proximate and peripheral regions around itself so that the United States would not be able to contain it. Once again, China resorted to “united front” tactics. In 1950, Zhou told
a senior Indian diplomat, T. N. Kaul, that “all the Asian countries must be united on the basis of friendship, peace and mutual respect in order to oppose any imperialist aggression.”35 In 1954, he flew down to India with the express purpose of “conducting preparation work for signing some form of Asian peace treaty and to strike a blow at the US conspiracy to organize a south east Asian invasive bloc (SEATO).”36 The CCP saw the 1955 Asian-African Conference in Bandung as a good platform to build an anti-U.S. front in the name of Asian solidarity.37 It categorized countries as ranging from “peace and neutral” to “anti-peace and anti-neutral,” with specific instructions on how to approach the different categories under the “general line of expanding the united front of peace.”38 India was a key instrument for executing this strategy. The CCP worked through Asian leaders to secure outcomes that served the objective of building an Asian front against the United States.39 A subordinate goal of China’s policy at this time, particularly around the Bandung Conference, might also have been to use India to develop agency for China by building a Third World constituency independent of the Soviet Union.
The Bandung Conference marked the high point of China’s early India policy. Since China had crafted relations with India within the matrix of great power relations and with the pri- mary objective of keeping it neutral, the policy worked so long as India shared the Chinese perspective on great power relations, addressed China’s core concerns in this larger context, and did not press its own issues. China seemed to expect that India would share its big-pic- ture approach and treat its own concerns as local issues to be discussed but not allowed to upset the overall framework. In the second half of the 1950s, after India started to articulate bilateral concerns, China still viewed these only through the prism of great power relations and not a bilateral one. It concluded that India was using problems like Tibet (which was internal to China) or the border dispute (with India’s claim seen as illegal) to earn support from the United States. This argument also fit in with the CCP’s ideological thinking about the Indian government as a bourgeois ruling class that was capitalist and not to be trusted. This impression gained further ground after the Tibetan rebellion and the flight of the Dalai Lama in March 1959, and following the warm welcome that India gave then U.S. president claimed that India was stirring up trouble in Tibet with active assistance from the United Kingdom and the United States.40 At the same time, China also viewed the budding Indo- Soviet relationship with concern after the visit of Soviet leaders Nikita Khrushchev and Nikolay Bulganin to India in 1955, and especially after the sharp exchanges over India that took place between Khrushchev and Mao Zedong in Beijing in October 1959.41
Shifting equations within the strategic triangle further complicated China’s India policy after 1958. The CCP saw the U.S. military buildup in the Taiwan Strait as preparation for an invasion—“play[ing] with fire at the brink of war” is how Zhou Enlai described it.42 After Khrushchev’s visit to Washington in September 1959, the CCP felt that the two superpowers might be colluding against it.43 Its biggest fear was U.S.-Soviet coordination on matters relating to China, including on its relations with India. In this changed context of triangular great power relations, China adjusted its policy to keep India neutral. Propaganda was toned down after May 1959. Mao personally drafted a conciliatory message.44 Ambassador Pan Zili said that “China will not be so foolish as to antagonize the US in the east and again to an- tagonize India in the southwest,” and added that “we cannot have two centers of attention, nor can we take friend [India] for foe. This is our state policy.”45 In September 1959, Zhou told the Indian ambassador about the great importance of Chinese-Indian friendship for Asia.46 It is believed that in January 1960, the CCP’s Politburo Standing Committee adopted guidelines for negotiating a compromise on the boundary question.47 It can be inferred that this tactical adjustment in India policy was in response to the deteriorating strategic environ- ment around China.
Zhou Enlai’s visit to Delhi in April 1960—when he carried Mao’s message that China’s “enemy lies in the east and will come by the sea. We take India as a friendly country and we cannot turn our southern border into a national front,” and a proposal to settle the bound- ary48—was not successful. It reinforced the Chinese view that India was seeking to benefit from the unfavorable situation confronting China. The assessment from the Chinese em- bassy in Delhi was that “opposition to China and communism and dependence on America and foreign expansion are the Indian ruling circle’s long-term guiding principles for foreign policy; a focal point of these guiding principles is long-term hostility toward China.”49 The CCP concluded that India’s posture on the boundary was part of an overall design under U.S. coordination to pressurize China from two fronts.50 That China looked at developments not simply from a bilateral perspective but within the context of great power triangular relationships is clear from a statement attributed to Mao. He is reported to have said that
Our fight with India is a complicated international question; it is not that only India is a problem, both the US and USSR and others are supporting India. They think they can teach us a lesson by dragging us into the arena at a time when we are in difficulty. But we shall not succumb to their scheme.
why Mao described the 1962 border war as a politico-military war (zhengzhi junshi zhang). He decided on the strategy, tactics, and timing with a twofold goal: to show the superpowers that India was not a dependable Asian partner and to coerce India back to a neutral posture.
The border war achieved little. It did not draw India back to a neutral posture—on the con- trary, Nehru called the war the “final culmination of the deterioration in relations between India and China.”52 India sought military assistance from the West. Chinese hopes that India might be more amenable to resolving the boundary question did not pan out.53 This is a recurring problem for China—by relying on coercion, it produces the opposite result from what it says it wants. Proposals by Zhou Enlai in December 1962, March 1963, and April 1963 to resume negotiations, as well as his statement that “we have not given up our desire for friendship with India,”54 drew cold responses from India. Instead of resetting relations, China’s actions led to a freeze for a quarter of a century. China’s goal of Asian solidarity as an anti-U.S. front suffered and its India policy collapsed.
Before drawing conclusions about this first phase of China’s India policy, two other prop- ositions need addressing. First, there is a view that the inner-party struggle that Mao was waging over economic policy during the Great Leap Forward may have impacted relations with India. This paper does not examine the immediate circumstances leading to the border war. It is possible that the domestic economic crisis and simultaneous deterioration of the environment along the India-China boundary were correlated so far as the scope and timing of the Chinese attack on India in concerned. But there is evidence that points to a fair degree of consensus within the CCP leadership on the handling of India from 1959 until
the border war, notwithstanding a letter from Wang Jiaxiang, formerly the ambassador to the Soviet Union, to Zhou Enlai in February 1961 that new methods should be employed to break through the impasse over the boundary question.55 On the whole, China’s India policy appears to have been a collective decision. Second, there is the Tibet factor to consider. This was undoubtedly a bilateral concern in the early years, but China’s initial deep concerns
over India’s intentions had been resolved by 1954. Chinese writings, including leadership statements, in the latter part of the 1950s are usually concerned with the Anglo-U.S. efforts in Tibet. India’s role is generally viewed from this broader perspective.
Three conclusions might be drawn from this first phase of China’s India policy. First, China regarded India as unequal, ideologically aligned with the West, and therefore untrustworthy. Second, its India policy was determined by the interplay of great power relations. The main objective was to relieve strategic pressure on China and this shaped tactics with India. Third, India may have let pass an opportunity that presented itself between mid-1959 and the end

2-Indicators for measuring development and under development :
(I) Gross National Income Per Capita (PPP)
Gross National Income Per Capita – is GNI divided by the population of a country, so it’s GNI per person.
(PPP) stands for Purchasing Power Parity – which alters the raw GNI per capita data to control for the different costs of living in a country, thus modifying the GNI figure in U.S. dollars to reflect what those dollars would actually buy given the different costs of living in different countries.
Gross National Income Per Capita (PPP) rankings (2013)
• 1st – Qatar – $123 000
• 11th – United States – $53 000
• 23rd – Finland – $38 000
• 27th – United Kingdom – $35 000
• 126th – Nigeria – $5360
• 127th – India – $5350
• 185th – Democratic Republic of Congo – $680
•
• GNI per capita (PPP) gives you a general idea of what the general economic standard of living is like for the average person in a country, however, there are serious limitations with this indicator – the main one being that it does not tell you how much of that income actually stays in a country, or how income is distributed. Quality of life will thus be a lot better for some people, and a lot worse for others than these gross statistics indicate.
• (ii) GNI per capita (PPP) gives you a general idea of what the general economic standard of living is like for the average person in a country, however, there are serious limitations with this indicator – the main one being that it does not tell you how much of that income actually stays in a country, or how income is distributed. Quality of life will thus be a lot better for some people, and a lot worse for others than these gross statistics indicate. Looking at absolute poverty statistics like this gives us a much fuller understanding of the lack of development in certain countries – in DRC, you can clearly see that poverty is endemic (absolute poverty is a significant problem in many Sub-Saharan African countries), and we can also see that absolute poverty is still a significant problem in India (mainly rural India) and while the 6% is quite low in China, this 6% represents 10s of millions of people, given the large overall population size.
• (iii) Proportion of population living below the poverty line within a country
The UN sustainable development goals states that one of its aims (under goal 1) is to ‘reduce at least by half the proportion of men, women and children of all ages living in poverty in all its dimensions according to national definitions’. (Source – The United Nations Sustainable Development Goals)
The United Nations collects this data for countries will lower human development, but not for countries with high human development, and so here we are reliant on data from national governments or other agencies – and the problem here is that different countries measure their ‘poverty line’ in different ways, so this means making cross national comparisons are difficult. Some sources are below:
• Details on how the USA defines its poverty line can be found at this US Census Bureau Website
Selected Stats on the Proportion of People Living Below the Country’s own poverty line:
• Most low income countries with high absolute poverty rates register percentages of between 30-60% living below their own poverty lines.
•
• The USA has 15% of its population living below its poverty line (a household income of around $24000 per annum)
• The UK also has around 15% of its population living below its poverty line, although its line is higher than the US – around $30000.
• (iv) The Human Development Index
The Human Development Index is compiled annually by the United Nations and gives countries a score based on GNI per capita, number of years of actual and expected schooling and life expectancy, or in the words of the UN itself – the HDI is ‘A composite index measuring average achievement in three basic dimensions of human development—a long and healthy life, knowledge and a decent standard of living.’
Selected Countries by Human Development Index rankings (2015)
• 1st – Norway
• 8th – United States
• 14th – United Kingdom
• 24th – Finland
• 32nd – Qatar
• 39th – Saudi Arabia
• 55th – The United States
• 56th – Saudi Arabia
• 90th – China
• India – 130th
• 137th- Bhutan
• 176th – DRC
For the strengths and limitations of the HID, please see my aptly titled post: ‘the strengths and limitations of the Human Development Index’.
• Percentage of children enrolled in secondary school
• (v) The Gender Inequality Index
The United Nations defines the Gender Inequality Index as ‘A composite measure reflecting inequality in achievement between women and men in three dimensions: reproductive health, empowerment and the labour market’.
More specifically, it gives countries a score between 0-1 (similar to the HDI) based on:
• The Maternal mortality ratio: Number of deaths due to pregnancy-related causes per 100,000 live births.
• The Adolescent birth rate: Number of births to women ages 15–19 per 1,000 women ages 15–19.
• Proportion of seats held by women in the national parliament expressed as percentage of total seats.
• The proportion of the female population compared to the male population with at least some secondary education
• The comparative Labour force participation rate for men and women.
2015 Gender inequality index rankings
Selected countries according to their rankings for the Gender Inequality Index
• 1st – Slovenia
• 11th – Finland
• 39th – The United Kingdom
• 55th – The United States
• 56th – Saudi Arabia
• 97the – Bhutan
• 127 – Ghana
• 130th – India Indicators for measuring underdevelopment:
For under development
(I) (i)Low per capita real income
Kuhnen, F. (1986). A low per capita real income is generally regarded as one of the main indicators of underdevelopment. The World Bank has classified the various countries into three broad categories, viz. (a) low-income countries, (b) middle-income countries, and (c) industrials countries . Their population, are and the gross national product per capita
the difference between the developed countries and the underdeveloped countries. The per capita income, on an average, in an underdeveloped countries. The per capita income, on an average, in an underdeveloped country is hardly 2.5 percent of the comparisons are more informative. It would be seen that while on the one extreme we have United Arab Emirates with the highest per capita income of $24,660 in 1981, on the other extreme figures Bhutan with as low capita income as $80. Most of the underdeveloped countries exhibit this very low ratio of income to population. This is a consequence either (a) of low level of national income, or (b) of a high level of population, or (c) of both. A low level of national income may be the result of low productivity , low saving and investment, backward technology and resources, while the level of population is determined by varied social and economic factors.
(ii) Population
Todaro, M., & Smith, S. (2011) Most of the underdeveloped countries experience a higher population growth rate as compares to the developed countries,
Where the growth rates of population are not very high in relation to other countries, the size of population may be very high (e.g., in China and India). The underdeveloped countries generally experience high birth rates but advancement of medical science had led to a significant reduction in the death rates. This has resulted in most of the underdeveloped countries passing through the second stage of demographic transition, also known as the stage of ‘Population Explosion’. Two major consequences of the population explosion have been : (a) A significant growth in the number of people who live on the subsistence or ‘poverty line’. The poverty line is defined as the line of minimum calorie intake for bare subsistence. (b) A significant growth in the number and proportion of unemployed people who tend to migrate, chiefly from the countryside to the cities, on search of employment.
(iii) Unemployment, Underemployment, disguised unemployment and low productivity
Yotopoulos, P. A. (1965) A characteristic common to most of the underdeveloped countries is the existence of widespread unemployment. Unemployment is caused by a number of factors like (a) the population pressure, (b) a low level of economic activity, (c) poor growth rates, (d) the choice of capital-intensive technique of production, (e) unrealistic education, (f) rigidity of the wage structure, and (g) lack of investment opportunities. One or more of these causes may be operating simultaneously. Reliable information about size of unemployment in the underdeveloped countries is lacking, but most of the studies undertaken in this respect suggest that the proportion of unemployment in underdeveloped countries may be between 8 per cent and 35 per cent of the total labour force.
Another related phenomenon is that of underdevelopment. The basic features of this situation are : (a) the type of employment is not much related to the qualifications of the employees, (b) wages are above the marginal productivity of labour, and (c) a large number of labour-hours remain unutilized. Again, no statistically accurate measurement the unemployed is available, but it has generally been estimated that the unemployed and the underemployed together in the underdeveloped countries would be about 30 per cent of the total work force.
Disguised unemployment refers to unemployment which is ‘hidden’, i.e., not open for anyone to see. A number of persons who may apparently be employed may not be contributing anything to production, In technical jargon, the disguised unemployed are those who are so numerous, relative to the resources, that the marginal physical productivity of labour over a wide range is zero, of not negative.
This situation obtains exclusively, or predominantly, in the agricultural sector, where family labour and non-wage employment predominate.
Unemployment, Underemployment and disguised unemployment result from the fact that labour in the underdeveloped countries is relatively abundant in relation to capital and the productivity of labour or usually low in most underdeveloped countries in comparison with such productivity in the developed countries. Low productivity in the under-developed and other resources, (b) backward technology, (c) lack of proper education, (d) inferior training and skill, and (e) poor health and nutrition. Unemployment is the major cause of widespread poverty in the underdeveloped countries.
(iv) Poverty
Oshima, H. T. (1990). Poverty is widespread in the underdeveloped countries. The fact that about one-half of the total population of the world subsists on an annual average per capita income of only $270 (1981prices) is in itself quite revealing. But this single macro-variable hides many things. A further deeper probe is more informative. Various studies conducted to determine the level of poverty have shown that a substantial proportion of the population (about 30 per cent) in the underdeveloped countries earns. A level of income which varies between $50 and $75 per annum. This is regarded as the minimum necessary for subsistence in these countries. This figure in itself is staggering and more recent evidence may well suggest that the present situation must have deteriorated further. The growing poverty juxtaposed with the fact the incomes have been growing in the underdeveloped countries suggests that there must be something wrong with the income distribution in these countries.
3-Various developing countries differ a good deal from each other. Some countries such as countries of Africa do not face problem of rapid population growth, others have to cope with the consequences of rapid population growth. Some developing countries are largely dependent on exports of primary products, others do not show such dependence, and others do not show such dependence.
Some developing countries have weak institutional structure such as lack of property rights, absence of the rule of law and political instability which affect incentives to invest. Besides, there are lot of differences with regard to levels of education, health, food production and availability of natural resources. However, despite this great diversity there are many common features of the developing economies. It is because of common characteristics that their developmental problems are studied within a common analytical framework of development economics.
COMMON CHARACTERISTICS OF DEVELOPING NATIONS
1. Low Per Capita Income:
The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan. According to these estimates for the year 1995, per capita income was $340 in India, $ 620 in China, $240 in Bangladesh, $ 700 in Sri Lanka. As against these, for the year 1995 per capita income was $ 26,980 in USA, $ 23,750 in Sweden, $ 39,640 in Japan and 40,630 in Switzerland.
It may however be noted that the extent of poverty prevailing in the developing countries is not fully reflected in the per capita income which is only an average income and also includes the incomes of the rich also. Large inequalities in income distribution prevailing in these economies have made the lives of the people more miserable. A large bulk of population of these countries lives below the poverty line.
For example, the recent estimates reveal that about 28 per cent of India’s population (i.e. about 260 million people) lives below the poverty line, that is, they are unable to get even sufficient calories of food needed for minimum subsistence, not to speak of minimum clothing and housing facilities. The situation in other developing countries is no better.
2. Excessive Dependence on Agriculture:
A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
In the present-day developed countries, the modern industrial growth brought about structural transformation with the proportion of working population engaged in agriculture falling drastically and that employed in the modern industrial and services sectors rising enormously. This occurred due to the rapid growth of the modern sector on the one hand and tremendous rise in productivity in agriculture on the other.
3. Low Level of Capital Formation:
The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
Since then there has been substantial increase in the rate of saving and investment in the developing countries. However, the quantity of capital per head is still very low in them and therefore productivity remains low. For example, in India rate of investment has now (2012-13) risen to about 35 per cent but it still remains a poor country with low level of productivity. This is because as a result of rapid population growth, capital per head is still very low.
4. Rapid Population Growth and Disguised Unemployment: The diversity among developing economies is perhaps nowhere to be seen so much in evidence as in respect of the facts of their population in respect of its size, density and growth. While we have examples of India, Pakistan and Bangladesh with their teeming millions and galloping rates of population growth, there are the Latin American countries which are very sparsely populated and whose total population in some cases numbers less than a single metropolitan city in India and China. In several newly emerging countries of Africa too and in some of the Middle Eastern countries the size of their population cannot be regarded as excessive, considering their large expanse. The South- East and Eastern Asia, on the other hand, have large populations.
However, there appears to be a common feature, namely, a rapid rate of population growth. This rate has been rising still more in recent years, thanks to the advances in medical sciences which have greatly reduced the death rate due to epidemics and diseases. While the death rate has fallen sharply, but there has been no commensurate decline in birth rate so that the natural survival rate has become much larger. The great threat of this rapid population growth rate is that it sets at nought all attempts at development in as much as much of the increased output is swallowed up by the increased population.
One important consequence of this rapid rate of population growth is that it throws more and more people on land and into informal sector to eke out their living from agriculture, since alternative occupations do not simultaneously develop and thus are not there to absorb the increasing numbers seeking gainful employment. The resultant pressure of population on land and in informal sector thus gives rise to what has been called “disguised unemployment”.
Disguised unemployment means that there are more persons engaged in agriculture than are actually needed so that the addition of such persons does not add to agricultural output, or putting it alternatively, given the technology and organisation even if some of the persons are withdrawn from land, no fall in production will follow from such withdrawal. As a result, marginal productivity of a wide range of labourers employed in agriculture is zero.
5. Lower Levels of Human Capital:
Human capital – education, health and skills – are of crucial importance for economic development. In our analysis of human development index (HDI) we noted that there is great disparity in human capital among the developing and developed countries. The developing countries lack in human capital that is responsible for low productivity of labour and capital in them.
Lack of education manifests itself in lower enrolment rate in primary, secondary and tertiary educational institutions which impact knowledge and skills of the people. Lower levels of education and skills are not conducive for the development of new industries and for absorbing new technologies to achieve higher levels of production. Besides, lack of education and skills makes people less adaptable to change and lowers the ability to organise and manage industrial enterprises. Further, in countries like India, advantage of demographic dividend can be taken only if the younger persons can be educated, healthy and equipped with appropriate skills so that they can be employed in productive activities.
The data of various education indicators is given in Table 4.3. It will be seen from this table that as compared to high income countries enrolment in secondary and tertiary educational institutions was 38% and 63% of person of relevant age group in 2009 as compared to 100 per cent in high-income developed countries.
6. Dualistic Structure of the Underdeveloped Economies:
An important feature of developing economies, especially those which are marked by surplus labour is that they have a dualistic structure. This dualistic character of these economies has been held to be the cause of unemployment and underemployment existing in them. Keeping in view this dualistic structure of less developed economies, important models of income and employment have been propounded.
Famous Lewis model of economic development with unlimited supplies of labour and Fei-Ranis model of “Development in a Labour Surplus Economy” explain how in dualistic economies, the unemployed and underemployed labour in the traditional sector is drawn into a modern high productivity sector.
3-Globally, poverty remains a challenge: the World Bank estimates that 1.29 billion people live in absolute poverty; the sad fact is that about 70 per cent of them are women. In Pakistan, it is no different, but without a national census, it isn’t even possible to gauge the correct picture. Poverty is difficult to quantify: the methodology used by the government has been challenged by the World Bank and the UNDP, while independent organisations consider poverty
However, according to the Human Development Index, 2009, 60.3pc of Pakistan’s population lives on $2 per day. According to Unesco, 71pc of eligible girls did not attend secondary school in 2009. Gender discriminatory practices shape poverty: as expected, more women are at the suffering end. They suffer poverty of opportunities far more than men. Poverty gives rise to social powerlessness and political disenfranchisement, and these add to the vulnerability of the poor.
The reasons for such high poverty levels are several: corruption, illicit capital flight, debt and loan conditionalities, high defence expenditures, and now, extremism. Those are the general ones.
To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
The risks of increasing poverty grow in parallel with the number of women-headed households. Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
It is no surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.
Unsurprisingly, few poor women have hope of escaping this poverty as there are so many odds stacked against them. Despite laws that favour them, even richer women are regularly denied land inheritance by emotional coercion, forced marriage and even by ‘marriage’ to the Quran.
The current political situation prevailing in the country presents a mixed picture for women’s progress and development. On the one hand, there are several forward-looking laws and amendments, widespread provision of safety nets like the Benazir Income Support Programme and increased school enrolment for girls. On the other hand is the snail’s pace at which the bureaucracy moves to implement those laws. Then again, there’s society’s stubbornly ‘eyes shut’ attitude to women’s rights and progress, the lack of recognition that women’s progress requires an acceptance of their constitutionally guaranteed equal status as citizens of this country.
If women are to progress and participate effectively in the economy, they must receive equal education, equal training, in rural and urban sectors and equal dignity and income. Pakistan cannot achieve progress on the efforts of less than half its population.
What does Poverty look like for the clients at Nellies? This is what women had to say at W.E.A.V our Women Ending Violence Support Group
• “Working everyday 2 or even 3 jobs and we don’t make enough to put food on our table every day.”
• “Sometimes I don’t eat dinner—that way my kids have enough.”
• “Poverty, struggling to survive, trying to stay alive.”
• “Homeless, living on the street, trying to find something to eat.”
• “Depressed, angry, hungry, frustrated, lonely and isolated.”
• “You can’t get money and you can’t find a job and that’s sad.”
Many factors cause women’s poverty including: lack of access to education, opportunities, childcare and fair income, sex-role stereotypes in paid work, changes in family composition such as divorce, health, violence and abuse, leaving gainful employment to caregive, and greater risk and increased poverty for women who are Aboriginal, non-white, disAbled or queer.
Women as the face of poverty results in children who are poor. Poverty among children is strongly linked to ill-health and poor academic achievement. By keeping women poor, we are also keeping children poor, making them sick, sabotaging their futures, contributing to crime, and perpetuating the cycle of poverty and violence. We need to work together to effect change social changes that will help not just some, but all women and children to succeed.
1.
The idea of the Third World, which is usually traced to the late 1940s or early 1950s, was increasingly used to try and generate unity and support among an emergent group of nation-states whose governments were reluctant to take sides in the Cold War. These leaders and governments sought to displace the ‘East-West’ conflict with the ‘North-South’ conflict. The rise of Third World in the 1950s and 1960s was closely connected to a range of national liberation projects and specific forms of regionalism in the erstwhile colonies of Asia and Africa, as well as the former mandates and new nation-states of the Middle East, and the ‘older’ nation-states of Latin America. Exponents of Third World in this period linked it to national liberation and various forms of Pan-Asian, Pan-Arabism, Pan-Africanism and Pan-American. The weakening or demise of the first generation of Third World regime in the 1960s and 1970s coincided with or was followed by the emergence of a second generation of Third World regimes that articulated a more radical, explicitly socialist, vision. A moderate form of Third World also became significant at the United Nations in the 1970s: it was centred on the call for a New International Economic Order (NIEO). By the 1980s, however, Third Worldism had entered into a period of dramatic decline. With the end of the Cold War, some movements, governments and commentators have sought to reorient and revitalize the idea of a Third World, while others have argued that it has lost its relevance. This introductory article provides a critical overview of the history of Third World, while clarifying both its constraints and its appeal. As a world historical movement, Third World (in both its first and second generation modalities) emerged out of the activities and ideas of anti-colonial nationalists and their efforts to mesh highly romanticized interpretations of pre-colonial traditions and cultures with the utopianism embodied by Marxism and socialism specifically, and ‘Western’ visions of modernisation and development more generally. Apart from the problems associated with combining these different strands, Third World also went into decline because of the contradictions inherent in the process of decolonization and in the new international politico-economic order, in the context of the changing character, and eventual end, of the global political economy of the Cold War.
2.
Developed countries could be viewed as countries with negligible poverty at such a
poverty line. The taxonomy would dovetail nicely with the development community’s
current strong focus on poverty issues. A drawback is that internationally comparable
poverty data are not very precise and are subject to large revisions as noted above. A bigger
problem with a poverty-based development taxonomy, however, is that the required data are
not drawn directly from official country sources. This makes the taxonomy less tractable and
thus more difficult to gain acceptance. A simple taxonomy is based on per capita income
data. An equally simple taxonomy would use a single social indicator. Life expectancy at
birth would probably be among the stronger contenders. To reflect the multifaceted aspect of
development, consideration could also be given to constructing composite indices of various
economic and social indicators.
A separate, but equally pertinent issue, is how to construct the development threshold. A
threshold can either be absolute or relative. An absolute threshold has a value that is fixed
over time. A relative threshold is based on contemporaneous outcomes. An absolute
threshold provides a fixed goal post. The Millennium Development Goals are cast mostly as
absolute thresholds. However, a relative threshold captures changes in expectations and
values. For example, if in 1950, an absolute development threshold had been established
based on life expectancy at birth with a threshold value of 69 years (the life expectancy in the
US in 1950), Sri Lanka would now be classified as a developed country. While observers of
vintage 1950 may have been comfortable with such a classification of Sri Lanka, current day
observers may not be.
The final step in constructing the taxonomy is to decide on the numerical value of the
threshold. Countries above the x percentile could be designated as developed with remaining
countries considered as developing. Alternatively, countries that have achieved a
development outcome within y percent of the most advanced country could be designated as
developed with remaining countries considered as developing. Any particular threshold
would undoubtedly invite questions about how it had been determined and it could
reasonably be expected that the designer of the taxonomy would provide a rationale for the
threshold.
3.
Major Characteristics of Developing Countries
a. Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries.Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty.
b. Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment and access apart from low per capita income.
c. Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc.
Lack of Infrastructures
d. Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably.
e. Lower Productivity
The productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc.
f. High Consumption and Low Saving
Income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate.
4.
Yes, I agree that poverty has the face of a women because of the following reasons :
poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibility to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and fierce figure how you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elderly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equal footing. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men.
Stereotypes and lower pay increase the risk for women to fall into poverty, particularly for older women, also due to low pensions also deprivation of opportunities. Gender inequalities, some restricting rules, early pregnancy and diabolical practices of some cultures has made some women to face high rate of poverty in different ways.
1. China–India relations also called Sino-Indian relations or Indo–Chinese relations, are the bilateral relations between the People’s Republic of China (PRC) and the Republic of India. India and China have historically maintained peaceful relations for thousands of years of recorded history, but the harmony of their relationship has varied in modern times, after the Chinese Communist Party’s victory in the Chinese Civil War in 1949, and especially post the Annexation of Tibet by the People’s Republic of China. The two nations have sought economic cooperation with each other, while frequent border disputes and economic nationalism in both countries are a major point of contention.
KEY POINTS
China and India’s sustained economic growth fuels their increasing geopolitical and military influence.
Despite their developmental similarities, China and India’s bilateral strategic rivalry means that they have competing priorities on most major global issues.
Sino-Indian differences are considerable on issues relating to the nonproliferation system, Asian security, regional stability in Southern Asia, and security in the maritime commons, space, and cyberspace. The two rising powers broadly agree on matters relating to the international economic system, energy security, and the environment.
Because of its ongoing shift to the Asia-Pacific and status as the only global superpower, the United States must manage a complex set of relationships with China and India, which are at times working at cross-purposes.
CHINESE AND INDIAN POSITIONS ON INTERNATIONAL ISSUES
Global Order: China and India tend to agree on the importance of state sovereignty and the need to reform global governance institutions to reflect the new balance of power. They also share a strong commitment to the open economic order that has allowed both powers to flourish in the global marketplace. But the two diverge on many details of the international system, such as the future viability of the Non-Proliferation Treaty and the role of state-owned enterprises in fostering globalization.
Regional Security: Both China and India want a stable Asia-Pacific that will allow them to sustain their economic prosperity, but they perceive threats very differently and have divergent priorities. Importantly, India seeks a resolute American presence in the region to hedge against possible Chinese excesses, while China sees the United States as significantly complicating its pursuit of its regional goals and worries about American containment attempts.
Security in the Global Commons: Beijing and New Delhi rely heavily on open sea lines of communication, and as a result, they both support the current maritime security regime. However, their interpretations as to its provisions have occasionally diverged. In space, China enjoys significant advantages over India and has emphasized the military dimensions of its program, while New Delhi has only recently begun developing space-based military technology. Both countries are just beginning to wrestle with the difficult task of forming cybersecurity policies, but they have already acted to limit objectionable or illegal activities online. In striking the balance between online freedom and social stability, India has encountered a higher degree of opprobrium in the public sphere than its counterpart.
Nontraditional Security: Chinese and Indian approaches to both energy and the environment broadly converge. Because India and China face a rising domestic demand for energy, they heavily rely on foreign suppliers of energy resources. This has prompted both governments to seek more efficient power sources and to secure their presence in overseas energy markets. On environmental policy, the two countries focus on primarily local and short-term concerns that must be balanced with the need for economic growth.
2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.
Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.
Measuring economic activity in a country or region provides insights into the economic well-being of its residents.
Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.
Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.
NAME:EZEAMAMA IFECHUKWU EMMANUEL
REG NO:2019/245102
DEPARTMENT:ECONOMICS MAJOR
1.)The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.
2i) The Human Development Index (HDI)
The measurement of economic development can be done through the human development index (the HDI).
This is the most used index to measure economic development. It takes the following three factors into account:
Health. The HDI measures the average life expectancy in a specific country and compares it to the global average.
Education. The HDI measures the mean years of schooling and expected years of schooling in a country.
Standard of living. The HDI measures the gross national income (GNI) per head, using the principle of purchasing power parity, PPP.
ii) The Genuine Progress Indicator (GPI)
The Genuine Progress Indicator builds off GDP as an economic indicator by including measures of the impact of economic growth on the environment as well as various social factors. The GPI takes GDP into consideration while also measuring the negative impacts of growth. For example, In this measurement, resource depletion and degradation are subtracted from the positive impacts of growth to determine the level of development. The GPI tries to get a bigger picture of the average quality of life by measuring information such as housework, parenting, the costs of crimes, and the value of volunteering work.
iii) The Human Poverty Index (HPI)
The Human Poverty Index complements the HDI as it is an indication of the standard of living in an economy. It considers the level of poverty and deprivation of a community in a country. The HPI uses two indices:
The HPI-1 is used to measure developing countries.
The HPI-2 is used for developed countries that are part of the Organization for Economic Co-operation and Development (OECD).
The HPI has limited utility as it combines the average deprivation levels of each dimension and it can’t be linked to any particular group of people.
iv). The Multidimensional Poverty Index
The multi-dimesnsion poverty assesses poverty at an individual level. MPI replaced the HPI in 2010. It differs from the HPI as it assesses poverty at the individual level. For example, If one person is deprived of a third or more of ten (weighted) indicators, the global index identifies them as ‘MPI poor’. The extent of poverty is measured by the percentage of deprivation a person is experiencing.
3). i. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments. It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
ii) High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
iii) Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
iv) Massive Poverty:
The majority of people in developing countries have been affected by the issue of poverty. Even the most fundamental demands cannot be met by them. The issue of poverty is also reflected in the low per capita in emerging countries. in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access.
V) Unemployment and underemployment:
significant issues and prevalent traits of emerging or undeveloped countries include unemployment and underemployment. The issue of underemployment and unemployment in emerging nations is brought on by factors such as an over-reliance on agriculture, a lack of industrialization, an improper use of natural resources, a lack of workforce planning, and others. Underemployment is a more significant issue than unemployment in developing countries.
Because there are no alternatives to these types of professions, people are forced to work at subpar jobs. The problem of underemployment is widespread in several nations, particularly in their rural and underdeveloped regions.
4). The harmonization of policies for economic growth, social equity and gender equity is a challenge that can no longer be ignored.
Poverty is considered as the result of power relations that first of
all affect men and women in a different way, but then also indigenous and Afro-descendent women, older adults and the inhabitants of certain areas. The multidimensional nature of this phenomenon is shown, as well as the virtues and limitations of traditional forms of measuring poverty, drawing attention to specific aspects which explain the
disadvantages suffered by women: the invisibility of unpaid domestic labour, the time poverty associated with such labour; the labour and wage discrimination against women; the importance of studies of the family from a gender perspective and the challenges for public policy.
In order to avoid discriminatory biases it is suggested that efforts must be made to develop women’s economic autonomy and promote a reconciliation of private and domestic life by encouraging a mass influx of men into the sphere of care.
Characteristics of developing countries include:
Mass poverty, unemployment or underemployment, rapid population growth, lack of infrastructures, illiteracy, etc
Mass poverty: Developing countries are faced with the problem of mass poverty cause they are not able to carter for the needs of the people.
Unemployment or underemployment: People in a developing country are unemployed or mostly underemployed cause they are not able to find something doing or befitting.
Rapid population growth: Most people in the country are not properly educated on sex education and the importance of family planning and so most people that having another child means having another labor force.
i) The Human Development Index (HDI)
The measurement of economic development can be done through the human development index (the HDI).
This is the most used index to measure economic development. It takes the following three factors into account:
Health. The HDI measures the average life expectancy in a specific country and compares it to the global average.
Education. The HDI measures the mean years of schooling and expected years of schooling in a country.
Standard of living. The HDI measures the gross national income (GNI) per head, using the principle of purchasing power parity, PPP.
ii) The Genuine Progress Indicator (GPI)
The Genuine Progress Indicator builds off GDP as an economic indicator by including measures of the impact of economic growth on the environment as well as various social factors. The GPI takes GDP into consideration while also measuring the negative impacts of growth. For example, In this measurement, resource depletion and degradation are subtracted from the positive impacts of growth to determine the level of development. The GPI tries to get a bigger picture of the average quality of life by measuring information such as housework, parenting, the costs of crimes, and the value of volunteering work.
iii) The Human Poverty Index (HPI)
The Human Poverty Index complements the HDI as it is an indication of the standard of living in an economy. It considers the level of poverty and deprivation of a community in a country. The HPI uses two indices:
The HPI-1 is used to measure developing countries.
The HPI-2 is used for developed countries that are part of the Organization for Economic Co-operation and Development (OECD).
The HPI has limited utility as it combines the average deprivation levels of each dimension and it can’t be linked to any particular group of people.
iv). The Multidimensional Poverty Index
The multi-dimesnsion poverty assesses poverty at an individual level. MPI replaced the HPI in 2010. It differs from the HPI as it assesses poverty at the individual level. For example, If one person is deprived of a third or more of ten (weighted) indicators, the global index identifies them as ‘MPI poor’. The extent of poverty is measured by the percentage of deprivation a person is experiencing.
3). i. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments. It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
ii) High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
iii) Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
iv) Massive Poverty:
The majority of people in developing countries have been affected by the issue of poverty. Even the most fundamental demands cannot be met by them. The issue of poverty is also reflected in the low per capita in emerging countries. in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access.
V) Unemployment and underemployment:
significant issues and prevalent traits of emerging or undeveloped countries include unemployment and underemployment. The issue of underemployment and unemployment in emerging nations is brought on by factors such as an over-reliance on agriculture, a lack of industrialization, an improper use of natural resources, a lack of workforce planning, and others. Underemployment is a more significant issue than unemployment in developing countries.
Because there are no alternatives to these types of professions, people are forced to work at subpar jobs. The problem of underemployment is widespread in several nations, particularly in their rural and underdeveloped regions.
4). The harmonization of policies for economic growth, social equity and gender equity is a challenge that can no longer be ignored.
Poverty is considered as the result of power relations that first of
all affect men and women in a different way, but then also indigenous and Afro-descendent women, older adults and the inhabitants of certain areas. The multidimensional nature of this phenomenon is shown, as well as the virtues and limitations of traditional forms of measuring poverty, drawing attention to specific aspects which explain the
disadvantages suffered by women: the invisibility of unpaid domestic labour, the time poverty associated with such labour; the labour and wage discrimination against women; the importance of studies of the family from a gender perspective and the challenges for public policy.
In order to avoid discriminatory biases it is suggested that efforts must be made to develop women’s economic autonomy and promote a reconciliation of private and domestic life by encouraging a mass influx of men into the sphere of care.
EZEH CHIAMAKA FAVOUR
2019/244443
ECONOMICS DEPARTMENT
1. In the year 1953, china’s premier met with the delegates Sent from India, during the meeting he presented the five principles of peaceful coexistence they are as follows: mutual respect for sovereignty and territorial integrity, mutual non aggression, non interference in each other’s internal affairs, equality and mutual benefit and finally peaceful coexistence. The goal of the principles was achieving harmony without uniformity.
At the Bandung conference in 1955, 10 principles were given to be used for the conduction of international relations. Out of the ten, five was from the principles of peaceful coexistence adopted by china and India.
The third world countries accepted and adopted the principles of peaceful coexistence in their pursuit for a fair international political and economic order.
The principles were a powerful contribution by the Eastern nations for enhancement of international relations.
2. Criterias used for measuring development and underdevelopment
Income
Human Assets
Economic vulnerability
Environmental vulnerability
Economic/ Environmental vulnerability. This measures the level of structural vulnerability of the environment and economy. It checks to see if, a country is vulnerable to either environmental or economic shocks. The higher the level of vulnerability in a country, the lower the chances of attaining sustainable development. It uses indicators like victims of disaster, instability of agricultural production, instability of export goods and services.
Human Assets Index. Measures the level of human capital in a country. The level of education, level of people’s health in a country, Adult literacy etc. Measures a countries level of development or underdevelopment.
Income. Gross national income is used to measure a country’s level of development based on its income level. It gives information about the total level of resources available in the country.
3. Characteristics of developing countries
Mass poverty
Rapid population growth
Unemployment and underemployment
Lack of infrastructure
A lot of people who live in developing countries are living in poverty unable to meet basic needs like food, clothings and shelter. Many live under the bridge feed from garbage and wear rags. This is usually caused by low pee Capita in the developing countries.
In developing countries large number of parents -fueled by high rate of infant and child mortality and the belief that more children equals large number of work force which In turn leads to increase in wealth and income – give birth to a large number of children which increases the population size of the economy.
Unemployment, the state of being willing and capable of working but has no job.
Unemployment is the situation In which a person engages in jobs that are below his area of expertise.
Onugwu Uzonna Michael , 2019/245479 Economics Major
1. China–India relations also called Sino-Indian relations or Indo–Chinese relations, are the bilateral relations between the People’s Republic of China (PRC) and the Republic of India. India and China have historically maintained peaceful relations for thousands of years of recorded history, but the harmony of their relationship has varied in modern times, after the Chinese Communist Party’s victory in the Chinese Civil War in 1949, and especially post the Annexation of Tibet by the People’s Republic of China. The two nations have sought economic cooperation with each other, while frequent border disputes and economic nationalism in both countries are a major point of contention. A close examination of Chinese and Indian perspectives on the fundamentals of the emerging international order reveals that Sino-Indian differences on many issues of both bilateral and global significance are stark.
KEY POINTS
China and India’s sustained economic growth fuels their increasing geopolitical and military influence.
Despite their developmental similarities, China and India’s bilateral strategic rivalry means that they have competing priorities on most major global issues.
Sino-Indian differences are considerable on issues relating to the nonproliferation system, Asian security, regional stability in Southern Asia, and security in the maritime commons, space, and cyberspace. The two rising powers broadly agree on matters relating to the international economic system, energy security, and the environment.
Because of its ongoing shift to the Asia-Pacific and status as the only global superpower, the United States must manage a complex set of relationships with China and India, which are at times working at cross-purposes.
CHINESE AND INDIAN POSITIONS ON INTERNATIONAL ISSUES
Global Order: China and India tend to agree on the importance of state sovereignty and the need to reform global governance institutions to reflect the new balance of power. They also share a strong commitment to the open economic order that has allowed both powers to flourish in the global marketplace. But the two diverge on many details of the international system, such as the future viability of the Non-Proliferation Treaty and the role of state-owned enterprises in fostering globalization.
Regional Security: Both China and India want a stable Asia-Pacific that will allow them to sustain their economic prosperity, but they perceive threats very differently and have divergent priorities. Importantly, India seeks a resolute American presence in the region to hedge against possible Chinese excesses, while China sees the United States as significantly complicating its pursuit of its regional goals and worries about American containment attempts.
Security in the Global Commons: Beijing and New Delhi rely heavily on open sea lines of communication, and as a result, they both support the current maritime security regime. However, their interpretations as to its provisions have occasionally diverged. In space, China enjoys significant advantages over India and has emphasized the military dimensions of its program, while New Delhi has only recently begun developing space-based military technology. Both countries are just beginning to wrestle with the difficult task of forming cybersecurity policies, but they have already acted to limit objectionable or illegal activities online. In striking the balance between online freedom and social stability, India has encountered a higher degree of opprobrium in the public sphere than its counterpart.
Nontraditional Security: Chinese and Indian approaches to both energy and the environment broadly converge. Because India and China face a rising domestic demand for energy, they heavily rely on foreign suppliers of energy resources. This has prompted both governments to seek more efficient power sources and to secure their presence in overseas energy markets. On environmental policy, the two countries focus on primarily local and short-term concerns that must be balanced with the need for economic growth.
2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.
Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.
Measuring economic activity in a country or region provides insights into the economic well-being of its residents.
Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.
Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.
Edwin Chinedu Augustine
2019/249508
Economics Major
Eco 361
(Developing country issues)
Assignment Answers
1)
China and India have emerged as important global powers creating political waves across
Europe and the US. Not only are they becoming more assertive in transnational institutio ns like
the World Trade Organization (WTO), their economic weight is felt throughout the world. As the Financial Times has pointed out, the rise of China and India “heralds a transformation of the
global economic and political order as significant as that brought about by the industrial
revolution or by the subsequent rise of the US.” (FT)
The global integration of China, India and Brazil reflects their emergence as powerful modern
economies. But this transformation creates tension between nation-centric class interests and the newly created relationships linked to transnationalized accumulation. This shift and its resulting contradictions constitute the dominant process in the world today. The struggle is both global
and internal as each national economy is remolded to fit into the emerging global mode of
production. This conflict pits descending forms of national production against rising forms of
globalized capital. The old international system that arose with industrial capitalism rooted itself
to building national markets, exporting abroad, using the state for economic development,
creating a social contract with the working class and projecting power into the Third World for
its own national monopolies. The globalist accumulation model is based on cross border
mergers, foreign direct investment, transnationalized assembly lines, global labor stratification, the free flow of capital, and multilateral institutions to develop common rules on trade, finance and investments. This regime is based on the revolution in information technology that has
transformed the tools of production and made possible the reorganization of capitalism on a
qualitatively more integrated level.
The remolding of each national economy creates an array of contradictions between the old and
new forms of accumulation. As each country transforms its social relations and institutions it
enters a process conditioned by its own history and culture. Therefore uneven development
determines the pace and nature of local insertion into the global economy. This process is occurring in China and India, with ramifications for their internal class struggle as well as their place in the global order. Each of these countries now sees its national development in terms of globalization. Though they all share similar political origins in socialist ideology or state lead economics they no longer pursue the strategy of import substitution and large state protected enterprises so common in the Third World from the Bandung era through the 1970’s.
Although their nationalist history affects their transformation today, now state directed development is geared to global production chains linked to transnational capital.
This is not a comprador surrender to imperialism, but a developmental strategy promoted by the new political and economic elite of the transnational capitalist class. Within the political and historic context of China and India andtheir aim is to enlarge the middle class, create jobs for the poor, develop a technologically advanced economy and increase their political power in the international arena. But does global capitalism have the social capacity, political will and environmental flexibility to move millions of working poor to decent living standards and higher income levels? Globalization is driven by the race to the bottom in which transnationals seek out the lowest wages and most exploitive conditions. Any reversal of this accumulation strategy is
highly doubtful without a revolution from below and a radical shift in thinking and power. Yet can economic growth and modernization increase the organizational and political capacity of the
working masses to the point where they can independently transform society to create a more democratic and just world? And if so, what leve l of support should working class organizations and popular social movements extend to Third World globalists? Such strategic questions of transitional reforms and revolutionary change, framed in the context of globalization, are key concerns as the process of development unfolds.
2)Agriculture & Rural Development
Agricultural irrigated land (% of total agricultural land)
Agricultural land (% of land area)
Agricultural machinery, tractors per 100 sq. km of arable land
Agriculture, forestry, and fishing, value added (% of GDP)
Arable land (% of land area)
Arable land (hectares per person)
Cereal yield (kg per hectare)
Crop production index (2014-2016 = 100)
Employment in agriculture, female (% of female employment) (modeled ILO estimate)
Employment in agriculture, male (% of male employment) (modeled ILO estimate)
Fertilizer consumption (kilograms per hectare of arable land)
Food production index (2014-2016 = 100)
Forest area (% of land area)
Forest area (sq. km)
Land area (sq. km)
Land under cereal production (hectares)
Livestock production index (2014-2016 = 100)
Permanent cropland (% of land area)
Rural population
Rural population (% of total population)
Surface area (sq. km)
Aid Effectiveness
Grants, excluding technical cooperation (BoP, current US$)
Incidence of tuberculosis (per 100,000 people)
Income share held by lowest 20%
Maternal mortality ratio (modeled estimate, per 100,000 live births)
Mortality rate, under-5 (per 1,000 live births)
Net ODA received (% of GNI)
Net ODA received (% of central government expense)
Net ODA received (% of gross capital formation)
Net ODA received (% of imports of goods, services and primary income)
Net ODA received per capita (current US$)
Net migration.
Climate Change
Climate Change Knowledge PortalCarbon Pricing Dashboard
Access to electricity (% of population)
Agricultural irrigated land (% of total agricultural land)
Agricultural land (% of land area)
Agriculture, forestry, and fishing, value added (% of GDP)
Annual freshwater withdrawals, total (% of internal resources)
Annual freshwater withdrawals, total (billion cubic meters)
Arable land (% of land area)
CO2 emissions (kt)
CO2 emissions (metric tons per capita)
CPIA public sector management and institutions cluster average (1=low to 6=high)
Cereal yield (kg per hectare)
Ease of doing business rank (1=most business-friendly regulations)
Electric power consumption (kWh per capita)
Energy use (kg of oil equivalent per capita)
Forest area (% of land area)
Forest area (sq. km)
Land area where elevation is below 5 meters (% of total land area)
Methane emissions (kt of CO2 equivalent)
Mortality rate, under-5 (per 1,000 live births)
Nitrous oxide emissions (thousand metric tons of CO2 equivalent)
Population growth (annual %)
Population in urban agglomerations of more than 1 million (% of total population)
Population living in areas where elevation is below 5 meters (% of total population)
Population, total
Poverty headcount ratio at $2.15 a day (2017 PPP) (% of population)
Prevalence of underweight, weight for age (% of children under 5)
Primary completion rate, total (% of relevant age group)
Renewable electricity output (% of total electricity output)
Renewable energy consumption (% of total final energy consumption)
School enrollment, primary and secondary (gross), gender parity index (GPI)
Terrestrial and marine protected areas (% of total territorial area)
Total greenhouse gas emissions (kt of CO2 equivalent)
Urban population
Urban population (% of total population)
Economy & Growth
Household Consumption Data and Statistics
Adjusted net savings, including particulate emission damage (% of GNI)
Agriculture, forestry, and fishing, value added (% of GDP)
Central government debt, total (% of GDP)
Charges for the use of intellectual property, payments (BoP, current US$)
Charges for the use of intellectual property, receipts (BoP, current US$)
Current account balance (BoP, current US$)
Expense (% of GDP)
Exports of goods and services (% of GDP)
External debt stocks (% of GNI)
External debt stocks, total (DOD, current US$)
Foreign direct investment, net inflows (BoP, current US$)
GDP (current US$)
GDP growth (annual %)
GDP per capita (current US$)
GDP per capita growth (annual %)
GDP per capita, PPP (current international $)
GNI per capita, Atlas method (current US$)
GNI per capita, PPP (current international $)
GNI, Atlas method (current US$)
GNI, PPP (current international $)
Grants, excluding technical cooperation (BoP, current US$)
Gross capital formation (% of GDP)
Gross savings (% of GDP)
Imports of goods and services (% of GDP)
Industry (including construction), value added (% of GDP)
Inflation, GDP deflator (annual %)
Inflation, consumer prices (annual %)
Medium and high-tech manufacturing value added (% manufacturing value added)
Net ODA received (% of GNI)
Net ODA received per capita (current US$)
Net official development assistance received (current US$)
PPP conversion factor, GDP (LCU per international $)
Personal remittances, received (current US$)
Price level ratio of PPP conversion factor (GDP) to market exchange rate
Revenue, excluding grants (% of GDP)
Short-term debt (% of total reserves)
Technical cooperation grants (BoP, current US$)
Total debt service (% of exports of goods, services and primary income)
Total reserves (includes gold, current US$)
Education
Education Statistics: EdStatsService Delivery Indicators
Children out of school, primary, female
Children out of school, primary, male
Government expenditure on education, total (% of GDP)
Government expenditure on education, total (% of government expenditure)
Government expenditure per student, primary (% of GDP per capita)
Government expenditure per student, secondary (% of GDP per capita)
Government expenditure per student, tertiary (% of GDP per capita)
Gross intake ratio in first grade of primary education, female (% of relevant age group)
Gross intake ratio in first grade of primary education, male (% of relevant age group)
Labor force, female (% of total labor force)
Labor force, total
Literacy rate, adult female (% of females ages 15 and above)
Literacy rate, adult male (% of males ages 15 and above)
Literacy rate, adult total (% of people ages 15 and above)
Literacy rate, youth female (% of females ages 15-24)
Literacy rate, youth male (% of males ages 15-24)
Literacy rate, youth total (% of people ages 15-24)
Persistence to last grade of primary, female (% of cohort)
Persistence to last grade of primary, male (% of cohort)
Population ages 0-14 (% of total population)
Population ages 15-64 (% of total population)
Primary completion rate, female (% of relevant age group)
Primary completion rate, male (% of relevant age group)
Primary completion rate, total (% of relevant age group)
Progression to secondary school, female (%)
Progression to secondary school, male (%)
Pupil-teacher ratio, primary
Repeaters, primary, female (% of female enrollment)
Repeaters, primary, male (% of male enrollment)
School enrollment, preprimary (% gross)
School enrollment, primary (% gross)
School enrollment, primary (% net)
School enrollment, primary (gross), gender parity index (GPI)
School enrollment, primary and secondary (gross), gender parity index (GPI)
School enrollment, secondary (% gross)
School enrollment, secondary (% net)
School enrollment, tertiary (% gross)
Trained teachers in primary education (% of total teachers)
Unemployment, female (% of female labor force) (modeled ILO estimate)
Unemployment, male (% of male labor force) (modeled ILO estimate)
Unemployment, total (% of total labor force) (modeled ILO estimate)
Energy & Mining
Energy & Extractives Open Data Platform
Access to electricity (% of population)
Alternative and nuclear energy (% of total energy use)
Electric power consumption (kWh per capita)
Energy imports, net (% of energy use)
Energy intensity level of primary energy (MJ/$2017 PPP GDP)
Energy use (kg of oil equivalent per capita)
Fossil fuel energy consumption (% of total)
Fuel exports (% of merchandise exports)
GDP per unit of energy use (constant 2017 PPP $ per kg of oil equivalent)
Investment in energy with private participation (current US$)
Ores and metals exports (% of merchandise exports)
Renewable electricity output (% of total electricity output)
Renewable energy consumption (% of total final energy consumption)
Time required to get electricity (days)
Total natural resources rents (% of GDP)
Environment
Access to electricity (% of population)
Adjusted net savings, including particulate emission damage (% of GNI)
Agricultural land (% of land area)
Annual freshwater withdrawals, total (% of internal resources)
Annual freshwater withdrawals, total (billion cubic meters)
Arable land (% of land area)
Bird species, threatened
CO2 emissions (kt)
CO2 emissions (metric tons per capita)
Energy intensity level of primary energy (MJ/$2017 PPP GDP)
Fish species, threatened
Forest area (% of land area)
Forest area (sq. km)
Land area (sq. km)
Land area where elevation is below 5 meters (% of total land area)
Mammal species, threatened
Methane emissions (kt of CO2 equivalent)
Nitrous oxide emissions (thousand metric tons of CO2 equivalent)
PM2.5 air pollution, mean annual exposure (micrograms per cubic meter)
PM2.5 air pollution, population exposed to levels exceeding WHO guideline value (% of total)
Plant species (higher), threatened
Population living in areas where elevation is below 5 meters (% of total population)
Population living in slums (% of urban population)
Renewable electricity output (% of total electricity output)
Renewable energy consumption (% of total final energy consumption)
Renewable internal freshwater resources per capita (cubic meters)
Renewable internal freshwater resources, total (billion cubic meters)
Surface area (sq. km)
Terrestrial and marine protected areas (% of total territorial area)
Total greenhouse gas emissions (kt of CO2 equivalent)
Total natural resources rents (% of GDP)
External Debt
Debt Data
Current account balance (BoP, current US$)
External debt stocks (% of GNI)
External debt stocks, private nonguaranteed (PNG) (DOD, current US$)
External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$)
External debt stocks, short-term (DOD, current US$)
External debt stocks, total (DOD, current US$)
Foreign direct investment, net inflows (BoP, current US$)
Grants, excluding technical cooperation (BoP, current US$)
IBRD loans and IDA credits (DOD, current US$)
Net ODA received (% of GNI)
Net ODA received per capita (current US$)
Net official development assistance received (current US$)
Personal remittances, received (current US$)
Short-term debt (% of total reserves)
Technical cooperation grants (BoP, current US$)
Total debt service (% of exports of goods, services and primary income)
Total reserves (includes gold, current US$)
Use of IMF credit (DOD, current US$)
Financial Sector
Financial Inclusion
Automated teller machines (ATMs) (per 100,000 adults)
Bank capital to assets ratio (%)
Bank nonperforming loans to total gross loans (%)
Broad money (% of GDP)
Broad money growth (annual %)
Commercial bank branches (per 100,000 adults)
Deposit interest rate (%)
Depth of credit information index (0=low to 8=high)
Domestic credit provided by financial sector (% of GDP)
Domestic credit to private sector (% of GDP)
Foreign direct investment, net inflows (BoP, current US$)
Inflation, consumer prices (annual %)
Interest rate spread (lending rate minus deposit rate, %)
International migrant stock, total
Lending interest rate (%)
Listed domestic companies, total
Market capitalization of listed domestic companies (% of GDP)
Market capitalization of listed domestic companies (current US$)
Net migration
Official exchange rate (LCU per US$, period average)
Personal remittances, received (current US$)
Real interest rate (%)
Risk premium on lending (lending rate minus treasury bill rate, %)
S&P Global Equity Indices (annual % change)
Stocks traded, total value (% of GDP)
Stocks traded, turnover ratio of domestic shares (%)
Strength of legal rights index (0=weak to 12=strong)
Total reserves (includes gold, current US$)
Gender
Gender Equality Data & Statistics
Adolescent fertility rate (births per 1,000 women ages 15-19)
Births attended by skilled health staff (% of total)
Children in employment, female (% of female children ages 7-14)
Children in employment, male (% of male children ages 7-14)
Children out of school, primary, female
Children out of school, primary, male
Contraceptive prevalence, any method (% of married women ages 15-49)
Contributing family workers, female (% of female employment) (modeled ILO estimate)
Contributing family workers, male (% of male employment) (modeled ILO estimate)
Employment in agriculture, female (% of female employment) (modeled ILO estimate)
Employment in agriculture, male (% of male employment) (modeled ILO estimate)
Employment in industry, female (% of female employment) (modeled ILO estimate)
Employment in industry, male (% of male employment) (modeled ILO estimate)
Employment in services, female (% of female employment) (modeled ILO estimate)
Employment in services, male (% of male employment) (modeled ILO estimate)
Fertility rate, total (births per woman)
Firms with female participation in ownership (% of firms)
Firms with female top manager (% of firms)
Gross intake ratio in first grade of primary education, female (% of relevant age group)
Gross intake ratio in first grade of primary education, male (% of relevant age group)
Labor force participation rate, female (% of female population ages 15+) (modeled ILO estimate)
Labor force participation rate, male (% of male population ages 15+) (modeled ILO estimate)
Labor force, female (% of total labor force)
Life expectancy at birth, female (years)
Life expectancy at birth, male (years)
Literacy rate, adult female (% of females ages 15 and above)
Literacy rate, adult male (% of males ages 15 and above)
Literacy rate, youth female (% of females ages 15-24)
Literacy rate, youth male (% of males ages 15-24)
Maternal mortality ratio (modeled estimate, per 100,000 live births)
Persistence to last grade of primary, female (% of cohort)
Persistence to last grade of primary, male (% of cohort)
Pregnant women receiving prenatal care (%)
Prevalence of HIV, female (% ages 15-24)
Prevalence of HIV, male (% ages 15-24)
Primary completion rate, female (% of relevant age group)
Primary completion rate, male (% of relevant age group)
Progression to secondary school, female (%)
Progression to secondary school, male (%)
Proportion of seats held by women in national parliaments (%)
Proportion of time spent on unpaid domestic and care work, female (% of 24 hour day)
Proportion of time spent on unpaid domestic and care work, male (% of 24 hour day)
Repeaters, primary, female (% of female enrollment)
Repeaters, primary, male (% of male enrollment)
School enrollment, primary (gross), gender parity index (GPI)
School enrollment, primary and secondary (gross), gender parity index (GPI)
Teenage mothers (% of women ages 15-19 who have had children or are currently pregnant)
Unemployment, female (% of female labor force) (modeled ILO estimate)
Unemployment, male (% of male labor force) (modeled ILO estimate)
Unemployment, youth female (% of female labor force ages 15-24) (modeled ILO estimate)
Unemployment, youth male (% of male labor force ages 15-24) (modeled ILO estimate)
Vulnerable employment, female (% of female employment) (modeled ILO estimate)
Vulnerable employment, male (% of male employment) (modeled ILO estimate)
Wage and salaried workers, female (% of female employment) (modeled ILO estimate)
Wage and salaried workers, male (% of male employment) (modeled ILO estimate)
Women making their own informed decisions regarding sexual relations, contraceptive use and reproductive health care (% of women age 15-49)
Health
HealthStatsService Delivery Indicators
Adolescent fertility rate (births per 1,000 women ages 15-19)
Age dependency ratio (% of working-age population)
Birth rate, crude (per 1,000 people)
Births attended by skilled health staff (% of total)
Cause of death, by communicable diseases and maternal, prenatal and nutrition conditions (% of total)
Cause of death, by injury (% of total)
Cause of death, by non-communicable diseases (% of total)
Completeness of birth registration (%)
Completeness of death registration with cause-of-death information (%)
Contraceptive prevalence, any method (% of married women ages 15-49)
Death rate, crude (per 1,000 people)
Diabetes prevalence (% of population ages 20 to 79)
Fertility rate, total (births per woman)
Hospital beds (per 1,000 people)
Immunization, DPT (% of children ages 12-23 months)
Immunization, measles (% of children ages 12-23 months)
Incidence of tuberculosis (per 100,000 people)
International migrant stock, total
Life expectancy at birth, female (years)
Life expectancy at birth, male (years)
Life expectancy at birth, total (years)
Maternal mortality ratio (modeled estimate, per 100,000 live births)
Mortality caused by road traffic injury (per 100,000 population)
Mortality rate, infant (per 1,000 live births)
Mortality rate, neonatal (per 1,000 live births)
Mortality rate, under-5 (per 1,000 live births)
Net migration
Number of surgical procedures (per 100,000 population)
Population ages 0-14 (% of total population)
Population ages 15-64 (% of total population)
Population ages 65 and above (% of total population)
Population growth (annual %)
Population, female (% of total population)
Population, total
Pregnant women receiving prenatal care (%)
Prevalence of HIV, female (% ages 15-24)
Prevalence of HIV, male (% ages 15-24)
Prevalence of HIV, total (% of population ages 15-49)
Prevalence of anemia among children (% of children ages 6-59 months)
Prevalence of overweight, weight for height (% of children under 5)
Prevalence of severe wasting, weight for height (% of children under 5)
Prevalence of stunting, height for age (% of children under 5)
Prevalence of undernourishment (% of population)
Prevalence of underweight, weight for age (% of children under 5)
Prevalence of wasting, weight for height (% of children under 5)
Refugee population by country or territory of asylum
Refugee population by country or territory of origin
Risk of catastrophic expenditure for surgical care (% of people at risk)
Risk of impoverishing expenditure for surgical care (% of people at risk)
Specialist surgical workforce (per 100,000 population)
Teenage mothers (% of women ages 15-19 who have had children or are currently pregnant)
Unmet need for contraception (% of married women ages 15-49)
Infrastructure
Air transport, registered carrier departures worldwide
Annual freshwater withdrawals, total (% of internal resources)
Annual freshwater withdrawals, total (billion cubic meters)
Container port traffic (TEU: 20 foot equivalent units)
Electric power consumption (kWh per capita)
Fixed broadband subscriptions (per 100 people)
Fixed telephone subscriptions (per 100 people)
Investment in energy with private participation (current US$)
Investment in transport with private participation (current US$)
Investment in water and sanitation with private participation (current US$)
Mobile cellular subscriptions (per 100 people)
Public private partnerships investment in ICT (current US$)
Rail lines (total route-km)
Renewable internal freshwater resources per capita (cubic meters)
Renewable internal freshwater resources, total (billion cubic meters)
Secure Internet servers (per 1 million people)
Poverty
Poverty and Inequality Platform
Annualized average growth rate in per capita real survey mean consumption or income, bottom 40% of population (%)
Annualized average growth rate in per capita real survey mean consumption or income, total population (%)
Gini index
Income share held by fourth 20%
Income share held by highest 10%
Income share held by highest 20%
Income share held by lowest 10%
Income share held by lowest 20%
Income share held by second 20%
Income share held by third 20%
Population living in slums (% of urban population)
Poverty gap at $2.15 a day (2017 PPP) (%)
Poverty headcount ratio at $2.15 a day (2017 PPP) (% of population)
Poverty headcount ratio at national poverty lines (% of population)
Survey mean consumption or income per capita, bottom 40% of population (2017 PPP $ per day)
Survey mean consumption or income per capita, total population (2017 PPP $ per day)
Private Sector
Doing BusinessEnterprise SurveysHousehold Consumption Data and Statistics
Business extent of disclosure index (0=less disclosure to 10=more disclosure)
Depth of credit information index (0=low to 8=high)
Domestic credit to private sector (% of GDP)
Ease of doing business rank (1=most business-friendly regulations)
Firms experiencing electrical outages (% of firms)
Firms experiencing losses due to theft and vandalism (% of firms)
Firms that spend on R&D (% of firms)
Firms using banks to finance working capital (% of firms)
Firms with female participation in ownership (% of firms)
Firms with female top manager (% of firms)
Fuel exports (% of merchandise exports)
High-technology exports (% of manufactured exports)
High-technology exports (current US$)
International tourism, expenditures (% of total imports)
International tourism, receipts (% of total exports)
Investment in energy with private participation (current US$)
Investment in transport with private participation (current US$)
Investment in water and sanitation with private participation (current US$)
Lead time to export, median case (days)
Lead time to import, median case (days)
Logistics performance index: Overall (1=low to 5=high)
Medium and high-tech exports (% manufactured exports)
Merchandise exports (current US$)
Merchandise imports (current US$)
Merchandise trade (% of GDP)
Net barter terms of trade index (2000 = 100)
New businesses registered (number)
Ores and metals exports (% of merchandise exports)
Start-up procedures to register a business (number)
Start-up procedures to register a business, female (number)
Start-up procedures to register a business, male (number)
Strength of legal rights index (0=weak to 12=strong)
Time required to get electricity (days)
Time required to start a business (days)
Time required to start a business, female (days)
Time required to start a business, male (days)
Time spent dealing with the requirements of government regulations (% of senior management time)
Total tax and contribution rate (% of profit)
Public Sector
Data on Statistical CapacityCountry Policy & Institutional Assessments
CPIA economic management cluster average (1=low to 6=high)
CPIA policies for social inclusion/equity cluster average (1=low to 6=high)
CPIA public sector management and institutions cluster average (1=low to 6=high)
CPIA structural policies cluster average (1=low to 6=high)
Central government debt, total (% of GDP)
Expense (% of GDP)
IDA resource allocation index (1=low to 6=high)
Intentional homicides (per 100,000 people)
Military expenditure (% of GDP)
Military expenditure (% of general government expenditure)
Net acquisition of financial assets (% of GDP)
Net incurrence of liabilities, total (% of GDP)
Net investment in nonfinancial assets (% of GDP)
Net lending (+) / net borrowing (-) (% of GDP)
Proportion of seats held by women in national parliaments (%)
Revenue, excluding grants (% of GDP)
Statistical Capacity Score (Overall Average) (scale 0 – 100)
Strength of legal rights index (0=weak to 12=strong)
Tax revenue (% of GDP)
Total tax and contribution rate (% of profit)
Science & Technology
Charges for the use of intellectual property, payments (BoP, current US$)
Charges for the use of intellectual property, receipts (BoP, current US$)
High-technology exports (% of manufactured exports)
High-technology exports (current US$)
Patent applications, nonresidents
Patent applications, residents
Research and development expenditure (% of GDP)
Researchers in R&D (per million people)
Scientific and technical journal articles
Technicians in R&D (per million people)
Social Development
Adolescent fertility rate (births per 1,000 women ages 15-19)
Children in employment, female (% of female children ages 7-14)
Children in employment, male (% of male children ages 7-14)
Children in employment, total (% of children ages 7-14)
Labor force participation rate, female (% of female population ages 15+) (modeled ILO estimate)
Labor force participation rate, male (% of male population ages 15+) (modeled ILO estimate)
Life expectancy at birth, female (years)
Life expectancy at birth, male (years)
Prevalence of HIV, female (% ages 15-24)
Prevalence of HIV, male (% ages 15-24)
Proportion of seats held by women in national parliaments (%)
Refugee population by country or territory of asylum
Refugee population by country or territory of origin
School enrollment, primary (gross), gender parity index (GPI)
School enrollment, primary and secondary (gross), gender parity index (GPI)
Unemployment, female (% of female labor force) (modeled ILO estimate)
Unemployment, male (% of male labor force) (modeled ILO estimate)
Vulnerable employment, female (% of female employment) (modeled ILO estimate)
Vulnerable employment, male (% of male employment) (modeled ILO estimate).
3)
Major Characteristics of Developing Countries
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world.
4)
Yes,Women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.
The chapter positions poverty as the root cause of gender inequality and discusses social entrepreneurship as a path toward women’s economic and social empowerment. The author introduces two approaches to addressing poverty among women: microcredit and small business cooperatives. The microfinance approach is exemplified by the Kashf Microfinance bank, founded by Roshaneh Zafar in Pakistan in 1996. By 2009, Kashf included 14,192 active borrowers, deposits of 3.8 million, and 42,073 depositors. COMUCAP, an organization based in the region of La Paz, Honduras, is representative of the cooperative approach. The program trained women to grow and sell coffee beans as a means to gain economic independence and escape domestic violence. Both case studies emphasize that helping women increase their economic agency gives them footing to combat poverty and achieve independence.
Chukwuemeka chinenye Goodness
2019/245669
ECONOMICS DEPARTMENT
1. In the year 1953, a meeting was held between china and India. Their representativs were china’s premier Zhou Enlair and the delegates Sent from India, during the meeting he suggested that the five principles of peaceful coexistence be adopted as a guide to their relationships. They are as follows: mutual respect for sovereignty and territorial integrity, mutual non aggression, non interference in each other’s internal affairs, equality and mutual benefit and finally peaceful coexistence. The goal of the principles was achieving harmony without uniformity.
At the Bandung conference in 1955, 10 principles were given to be used for the conduction of international relations. Out of the ten, five was from the principles of peaceful coexistence adopted by china and India.
The third world countries accepted and adopted the principles of peaceful coexistence in their pursuit for a fair international political and economic order.
The principles were a powerful contribution by the Eastern nations for enhancement of international relations.
2. Criterias used for measuring development and underdevelopment
Income
Human Assets
Economic vulnerability
Environmental vulnerability
Economic/ Environmental vulnerability. This measures the level of structural vulnerability of the environment and economy. It checks to see if, a country is vulnerable to either environmental or economic shocks. The higher the level of vulnerability in a country, the lower the chances of attaining sustainable development. It uses indicators like victims of disaster, instability of agricultural production, instability of export goods and services.
Human Assets Index. Measures the level of human capital in a country. The level of education, level of people’s health in a country, Adult literacy etc. Measures a countries level of development or underdevelopment.
Income. Gross national income is used to measure a country’s level of development based on its income level. It gives information about the total level of resources available in the country.
3. Characteristics of developing countries
Mass poverty
Rapid population growth
Unemployment and underemployment
Lack of infrastructure
A lot of people who live in developing countries are living in poverty unable to meet basic needs like food, clothings and shelter. Many live under the bridge feed from garbage and wear rags. This is usually caused by low pee Capita in the developing countries.
In developing countries large number of parents -fueled by high rate of infant and child mortality and the belief that more children equals large number of work force which In turn leads to increase in wealth and income – give birth to a large number of children which increases the population size of the economy.
Unemployment, the state of being willing and capable of working but has no job.
Unemployment is the situation In which a person engages in jobs that are below his area of expertise.
Onugwu Uzonna Michael, 2019/245479, Economics Major
1. China–India relations also called Sino-Indian relations or Indo–Chinese relations, are the bilateral relations between the People’s Republic of China (PRC) and the Republic of India. India and China have historically maintained peaceful relations for thousands of years of recorded history, but the harmony of their relationship has varied in modern times, after the Chinese Communist Party’s victory in the Chinese Civil War in 1949, and especially post the Annexation of Tibet by the People’s Republic of China. The two nations have sought economic cooperation with each other, while frequent border disputes and economic nationalism in both countries are a major point of contention. A close examination of Chinese and Indian perspectives on the fundamentals of the emerging international order reveals that Sino-Indian differences on many issues of both bilateral and global significance are stark.
KEY POINTS
China and India’s sustained economic growth fuels their increasing geopolitical and military influence.
Despite their developmental similarities, China and India’s bilateral strategic rivalry means that they have competing priorities on most major global issues.
Sino-Indian differences are considerable on issues relating to the nonproliferation system, Asian security, regional stability in Southern Asia, and security in the maritime commons, space, and cyberspace. The two rising powers broadly agree on matters relating to the international economic system, energy security, and the environment.
Because of its ongoing shift to the Asia-Pacific and status as the only global superpower, the United States must manage a complex set of relationships with China and India, which are at times working at cross-purposes.
CHINESE AND INDIAN POSITIONS ON INTERNATIONAL ISSUES
Global Order: China and India tend to agree on the importance of state sovereignty and the need to reform global governance institutions to reflect the new balance of power. They also share a strong commitment to the open economic order that has allowed both powers to flourish in the global marketplace. But the two diverge on many details of the international system, such as the future viability of the Non-Proliferation Treaty and the role of state-owned enterprises in fostering globalization.
Regional Security: Both China and India want a stable Asia-Pacific that will allow them to sustain their economic prosperity, but they perceive threats very differently and have divergent priorities. Importantly, India seeks a resolute American presence in the region to hedge against possible Chinese excesses, while China sees the United States as significantly complicating its pursuit of its regional goals and worries about American containment attempts.
Security in the Global Commons: Beijing and New Delhi rely heavily on open sea lines of communication, and as a result, they both support the current maritime security regime. However, their interpretations as to its provisions have occasionally diverged. In space, China enjoys significant advantages over India and has emphasized the military dimensions of its program, while New Delhi has only recently begun developing space-based military technology. Both countries are just beginning to wrestle with the difficult task of forming cybersecurity policies, but they have already acted to limit objectionable or illegal activities online. In striking the balance between online freedom and social stability, India has encountered a higher degree of opprobrium in the public sphere than its counterpart.
Nontraditional Security: Chinese and Indian approaches to both energy and the environment broadly converge. Because India and China face a rising domestic demand for energy, they heavily rely on foreign suppliers of energy resources. This has prompted both governments to seek more efficient power sources and to secure their presence in overseas energy markets. On environmental policy, the two countries focus on primarily local and short-term concerns that must be balanced with the need for economic growth.
2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.
Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.
Measuring economic activity in a country or region provides insights into the economic well-being of its residents.
Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.
Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.
NAME: Odo Lovelyn Chioma
REG NO: 2019/241246
Department: ECONOMICS EDUCATION.
1.Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
China and India played a vital role in promoting the political emergence of third world countries and in changing the relations between the third world and the industrial countries. China, with its communist system, and India, with its democratic socialist system, both provided alternative models for third world countries looking to develop their own political and economic systems. Both nations also played important roles in shaping the global conversation about the relationship between developed and developing nations, and worked to promote the interests of the third world on the international stage.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
The traditional method of defining developing countries is by their Gross National Income (GNI) per capita per year. However, other organizations such as the United Nations and World Bank have developed more comprehensive criteria and indicators for measuring development and underdevelopment. These criteria may include factors such as poverty, education levels, healthcare, infrastructure, and economic growth. Additionally, organizations such as the United Nations Development Programme (UNDP) have developed the Human Development Index (HDI) which uses a combination of indicators such as life expectancy, education and standard of living to measure a country’s development status.
3.Clearly discuss and analyse the Common Characteristics of Developing Nations
The countries in which the process of developmenthas started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Here we will discuss the different characteristics of developing countries of the world.
Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
The common characteristics of developing nations are briefly explained below.
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
4.It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Poverty has a female face and the global economic downturn will have a significant impact on women as more of them lose jobs and are forced to manage shrinking household incomes,” Ezekwesili said May 8 at the “Women and the Changing Global Outlook” conference organized by the British Embassy in Washington, and the National Geographic Society.
“The face of poverty is female,” she said, sketching the portrait of the typical poor African youth.
“She is 18.5 years old. She lives in a rural area. She has dropped out of school. She is single, but is about to be married or be given in marriage to a man approximately twice her age. She will be the mother of six or seven kids in another 20 years,” said Ezekwesili, citing the findings of the latest edition of the annual World Bank publication, Africa Development Indicators (ADI).
The Global Crisis and its Impact on Women and Girls
The global economic crisis, Ezekwesili explained, is likely to hit African women on two fronts. First, it will arrest capital accumulation by women, and second, it will drastically reduce women’s individual incomes as well as the budgets they manage on behalf of households. This would have damaging consequences notably on the girl child.
With the education of boys largely sheltered from shocks and parents often more likely to pull out a girl from school than a boy when tuition becomes hard to find, the World Bank Vice President cited research findings on household income declines in Uganda and a fall in income from agriculture in Madagascar where girls were first to be pulled out of schools.
The World Bank has warned that an additional 700,000 African infants are likely to die before their first birthday as a result of the crisis. The girl child will be hit hardest. Research has shown that “girls are five times more likely to be impacted by increases in infant mortality rate than boys.”
Unlike in rich countries such as the United States, where more men have tended to lose their jobs compared to women, the crisis in Africa is leaving women with ever fewer job choices. In many export-oriented industries – for example, the cut-flower industry in Ethiopia, Kenya and Uganda and the textile industry in Kenya and Lesotho – it is women, not men, across Africa who are bleeding jobs because of the crisis.
Declining remittances and a tightening of micro-finance lending would further restrict the funds available to women to run their households.
Gender-focused Development Initiatives
Conference participants reached consensus that development and poverty alleviation strategies that fail to target girls and women have little to no chance of success in Africa.
Ms. Ezekwesili drew attention to the Gender Entrepreneurship Markets (GEM) initiative launched by the Bank’s private sector arm, the International Finance Corporation (IFC), to enhance women’s access to finance and address gender barriers to the business environment. The $50 million GEM has benefited over 1,500 women in 18 sub-Saharan African countries and will be enhanced by a recent $120 million loan program that the IFC signed with EcoBank to benefit businesswomen in five countries.
In addition, the Bank has adopted a Gender Action Plan and launched an $11 million, three-year Adolescent Girls Initiative to train, mentor, empower and facilitate the transition of young African women to work in Liberia, Southern Sudan and Rwanda. In addition, 83 Bank-funded projects totaling $4.4 billion have female economic empowerment components; the majority of them (33) in agriculture, education (34), infrastructure (11) and private sector development (5).
Other speakers at the conference struck similar chords.
Speaking on behalf of the British ambassador to Washington, Sir Nigel Sheinwald, the deputy head of mission, Dominick Chilcott, stressed the link between women’s empowerment and development. The road to sustainable development, he said, is only attainable if it is built on a gender inclusive agenda.
“We must take the opportunities presented by the crisis to innovate and invest in women, whether it is proposals to introduce better social programs, finding ways of integrating women into the labor force, or reducing discrimination in financial markets,” he said, citing remarks by Sheinwald.
In a video message, Ms. Sarah Brown, the spouse of British Prime Minister Gordon Brown, spoke of the need for world leaders to tackle “the many injustices that remain” against women.
Ambassador Melanne Verveer, U.S. President Barack Obama’s Ambassador-at-Large for Global Women’s Issues at the State Department, urged development agencies to “think women”.
“You cannot beat poverty without putting women at the center of your development strategies,” she said.
“Women’s equality is not just the right thing to do, it is also smart economics,” she added, paraphrasing the World Bank. She pointed out that women were key to food security and agriculture; essential players in the promotion of the rights of the child; major actors in health care provision; yet continued to suffer discrimination in powerful board rooms; and on higher rungs of corporate ladders.
however, I agree that poverty has the face of a woman and we have seen this in many of our communities. Both man and women have the responsibility to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and fierce figure who you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
Nwabuebo Success Ekene
2019/248711
Eco major
Eco 361
1. These countries played a role in discussing peace and the role of the Third World in the Cold War, economic development, and decolonization and these countries have advanced in the technological know how.
2. The World Bank assigns the world economies into 4 groups and each year these classifications are updated each year on July 1 and are based on the GNI per capita of the previous years. These groups are;
• low income countries.
• lower-middle income countries.
• upper-middle income countries.
• high income countries.
3. Low levels of living:
Low levels of productivity
Widespread poverty
Dependence and Vulnerability
High and rising levels of unemployment and underemployment
High rates of population growth and dependency burdens
4. The World Bank estimates that around 8.5 percent of the world’s population (685 million people) could be extremely poor by the end of 2022, and that poverty is now declining at a very slow rate of only 2 percent a year. The result never states or stigmatized poverty as a result as the high rate of poverty caused by women or females but was rather generalized to be caused by both male and female.
Odo Linda Amarachi
2019/244376
ECONOMICS MAJOR
1. As a result of independence movement, the United Nations, was gradually transformed into a third world forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and Sri Lanka discussed peace, role of the Third World, economic development, and decolonization process. They tried to chart out a diplomatic course as neutrals or ‗non-aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based on the principles of political self-determination, mutual respect for sovereignty, non-aggression, non-interference in internal affairs, and equality. Conference paved way for the emergence of third world free from evils of capitalism and communism.
Thus, the concept of the ‗Third World‘ was born. Communist China was one of the countries participating as the Third World Country rather than the Russian Soviet orbit. The 1955 Bandung Conference was the first attempt at the creation and establishment of a third force in global politics. The term Third World was adopted to refer to a self-defining group of non-aligned states. The Bandung Conference played an important role in mobilizing the counter-hegemonic forces to be known as the Third World. There were other priority areas as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via the United Nation .The conference also emphasis on the issues of increased cultural and technical cooperation between African and Asian governments along with the establishment for an economic development fund .It also raised its voice for the required support for human rights and the self-determinations of peoples and nations by the world community and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind of perspective the international politics marked the emergence of a non-aligned bloc from the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the ―Bandung spirit is not ‗detachment‘ from the powerful Western countries, but non-aligned self-helped ‗organization against‘ the powerful countries
Traditionally, Developing countries are defined according to their gross national income (GNI) per capita per year. However, the united nations, world bank and other bretton woods institutions have developed many other criteria and indicators for measuring development and under development.
ANSWER
The World Bank promotes long-term economic development and poverty reduction by providing technical and financial support to help countries implement reforms or projects, such as building schools, providing water and electricity, fighting disease, and protecting the environment. World Bank assistance is generally long-term and is funded by member country contributions and by issuing bonds. World Bank staff are often specialists on specific issues, such as climate, or sectors, such as education. The IMF promotes global macroeconomic and financial stability and provides policy advice and capacity development support to help countries build and maintain strong economies. The IMF provides short- and medium-term loans to help countries that are experiencing balance of payments problems and difficulty meeting international payment obligations. IMF loans are funded mainly by quota contributions from its members. IMF staff are primarily economists with wide experience in macroeconomic and financial policies. During the Annual Meetings of the Boards of Governors of the IMF and the World Bank, Governors present their countries views on current issues in international economics and finance and decide how to respond to them. A group of IMF and World Bank Governors also sit on the Development Committee that advises the two institutions on promoting economic development in low-income countries. The Managing Director of the IMF and the President of the World Bank meet regularly to consult on major issues. They issue joint statements, occasionally write joint articles, and may visit regions and countries together. The First Deputy Managing Director of the IMF and the World Bank Managing Director of Operations also hold regular meetings to discuss country and policy issues. IMF and Bank staffs collaborate closely on country assistance and policy issues that are relevant for both institutions. IMF assessments of a country’s general economic situation and policies inform the World Bank’s assessments of potential development projects or reforms. Similarly, World Bank advice on structural and sectoral reforms informs IMF policy advice. The staffs of the two institutions also cooperate in specifying the policy components in their respective lending programs.
Clearly discuss and analysis the common characteristic of developing nations.
ANSWER
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore.
it has been argued that poverty has the face of a woman. As a budding economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
ANSWER
YES
Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship, say MEPs in a non binding resolution adopted on Tuesday. Two other resolutions look at measures to combat gender stereotyping in the EU and to protect women’s rights in North Africa.
“Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment.
Parliament points out that cuts in education, childcare and care services have pushed women to work shorter hours or part-time, thereby reducing not only their income but their pensions as well. Invest in women MEPs say that to restore growth and to reverse the effects of the crisis, member states must invest in lifelong training, re-skilling policies, teleworking and new jobs, promote female entrepreneurship and develop child-care facilities. They must also include women in decision-making and promote gender balance on company boards.
The resolution on the impact of the crisis on gender equality and women’s rights was passed by 495 votes to 96, with 69 abstentions. Fighting gender stereotypes Gender stereotypes also contribute to the feminisation of poverty, say MEPs. They persist in the labour market in sectors such as engineering and childcare, leading to occupational segregation and the gender pay gap. The lower pay increase the risk for women to fall into poverty, particularly for older women, also due to low pensions.
The EP calls on the Commission and the member states to use EU programmes, such as the European Social Fund, to get more women into professions where they are under-represented and to guarantee equal pay for equal work.
“This is a strong and unequivocal signal of solidarity and support to women who are fighting in North Africa for freedom, democracy and universal human rights of men and women against all forms of discrimination and violence. As they explained, for them it is the same battle. We need to support and accompany this difficult transition and ensure their rights are recognised and protected in the constitution and in the legislation.
Emesih Amaramsinachi Catherine
2019/241318
Eco major
Eco 361
1. These countries played a role in discussing peace and the role of the Third World in the Cold War, economic development, and decolonization and these countries have advanced in the technological know how.
2. The World Bank assigns the world economies into 4 groups and each year these classifications are updated each year on July 1 and are based on the GNI per capita of the previous years. These groups are;
• low income countries.
• lower-middle income countries.
• upper-middle income countries.
• high income countries.
3. Low levels of living:
Low levels of productivity
Widespread poverty
Dependence and Vulnerability
High and rising levels of unemployment and underemployment
High rates of population growth and dependency burdens
4. The World Bank estimates that around 8.5 percent of the world’s population (685 million people) could be extremely poor by the end of 2022, and that poverty is now declining at a very slow rate of only 2 percent a year. The result never states or stigmatized poverty as a result as the high rate of poverty caused by women or females but was rather generalized to be caused by both male and female.
Odo Linda Amarachi
2019/244376
ECONOMICS MAJOR
Two nations whose social and economic systems were sharply opposed-china and india-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and industrial countries, capitalist and communist.
ANSWER
As a result of independence movement, the United Nations, was gradually transformed into a third world forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and Sri Lanka discussed peace, role of the Third World, economic development, and decolonization process. They tried to chart out a diplomatic course as neutrals or ‗non-aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based on the principles of political self-determination, mutual respect for sovereignty, non-aggression, non-interference in internal affairs, and equality. Conference paved way for the emergence of third world free from evils of capitalism and communism.
Thus, the concept of the ‗Third World‘ was born. Communist China was one of the countries participating as the Third World Country rather than the Russian Soviet orbit. The 1955 Bandung Conference was the first attempt at the creation and establishment of a third force in global politics. The term Third World was adopted to refer to a self-defining group of non-aligned states. The Bandung Conference played an important role in mobilizing the counter-hegemonic forces to be known as the Third World. There were other priority areas as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via the United Nation .The conference also emphasis on the issues of increased cultural and technical cooperation between African and Asian governments along with the establishment for an economic development fund .It also raised its voice for the required support for human rights and the self-determinations of peoples and nations by the world community and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind of perspective the international politics marked the emergence of a non-aligned bloc from the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the ―Bandung spirit is not ‗detachment‘ from the powerful Western countries, but non-aligned self-helped ‗organization against‘ the powerful countries
Traditionally, Developing countries are defined according to their gross national income (GNI) per capita per year. However, the united nations, world bank and other bretton woods institutions have developed many other criteria and indicators for measuring development and under development.
ANSWER
The World Bank promotes long-term economic development and poverty reduction by providing technical and financial support to help countries implement reforms or projects, such as building schools, providing water and electricity, fighting disease, and protecting the environment. World Bank assistance is generally long-term and is funded by member country contributions and by issuing bonds. World Bank staff are often specialists on specific issues, such as climate, or sectors, such as education. The IMF promotes global macroeconomic and financial stability and provides policy advice and capacity development support to help countries build and maintain strong economies. The IMF provides short- and medium-term loans to help countries that are experiencing balance of payments problems and difficulty meeting international payment obligations. IMF loans are funded mainly by quota contributions from its members. IMF staff are primarily economists with wide experience in macroeconomic and financial policies. During the Annual Meetings of the Boards of Governors of the IMF and the World Bank, Governors present their countries views on current issues in international economics and finance and decide how to respond to them. A group of IMF and World Bank Governors also sit on the Development Committee that advises the two institutions on promoting economic development in low-income countries. The Managing Director of the IMF and the President of the World Bank meet regularly to consult on major issues. They issue joint statements, occasionally write joint articles, and may visit regions and countries together. The First Deputy Managing Director of the IMF and the World Bank Managing Director of Operations also hold regular meetings to discuss country and policy issues. IMF and Bank staffs collaborate closely on country assistance and policy issues that are relevant for both institutions. IMF assessments of a country’s general economic situation and policies inform the World Bank’s assessments of potential development projects or reforms. Similarly, World Bank advice on structural and sectoral reforms informs IMF policy advice. The staffs of the two institutions also cooperate in specifying the policy components in their respective lending programs.
Clearly discuss and analysis the common characteristic of developing nations.
ANSWER
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore.
it has been argued that poverty has the face of a woman. As a budding economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
ANSWER
YES
Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship, say MEPs in a non binding resolution adopted on Tuesday. Two other resolutions look at measures to combat gender stereotyping in the EU and to protect women’s rights in North Africa.
“Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment.
Parliament points out that cuts in education, childcare and care services have pushed women to work shorter hours or part-time, thereby reducing not only their income but their pensions as well. Invest in women MEPs say that to restore growth and to reverse the effects of the crisis, member states must invest in lifelong training, re-skilling policies, teleworking and new jobs, promote female entrepreneurship and develop child-care facilities. They must also include women in decision-making and promote gender balance on company boards.
The resolution on the impact of the crisis on gender equality and women’s rights was passed by 495 votes to 96, with 69 abstentions. Fighting gender stereotypes Gender stereotypes also contribute to the feminisation of poverty, say MEPs. They persist in the labour market in sectors such as engineering and childcare, leading to occupational segregation and the gender pay gap. The lower pay increase the risk for women to fall into poverty, particularly for older women, also due to low pensions.
The EP calls on the Commission and the member states to use EU programmes, such as the European Social Fund, to get more women into professions where they are under-represented and to guarantee equal pay for equal work.
“This is a strong and unequivocal signal of solidarity and support to women who are fighting in North Africa for freedom, democracy and universal human rights of men and women against all forms of discrimination and violence. As they explained, for them it is the same battle. We need to support and accompany this difficult transition and ensure their rights are recognised and protected in the constitution and in the legislation.
Name: Oboko Mmesoma Favour
Reg No: 2019/241347
Department: Combined social science (Economics/political science)
Email: obfav551@gmail.com
Assignment on Developmen Eco 361
Answer to Question 1
The conference in 1955 was the beginning of the political emergency resulting to a major role by China and India in promoting and changing the link between the third world and industrial countries. The United Nations at first numerically donated by European countries and countries of Europe transformed into something of a third world forum. The problem of unemployment then became the focus of an essential academic debate.
Answer to Question 2
Indications for measuring development
Human development index: it involves life expectation,education index, income index
Income per capita
Quality of life index: standard of living
Literacy rate : increase in knowledge among citizens
GNP: it involves GDP of nation’s with money earned by investment from abroad- income by non-nationals
GDP: it involves how much money made by a country from it’s product over a course of year.
GNP per capital : GDP divide population
Birth and Death rate: refers to the health care and heath Education in a country.
Indicators for measuring underdevelopment includes
High birth rates: This involves increase in over population.
Undernourishment: This is affected by low standard of living.
High levels of illiteracy: This is lack of knowledge on most economic issues.
Answer to Question 3
Common characteristics of Developing nations
Low level of living: This shows that the standard of living is very low in most developing countries.
Low levels of productivity: this show that the GNP and GDP of most developing countries are low as a result of low productivity.
High rates of population growth and dependency burden: when population is high and there is low productivity, citizens are tends to depend on other countries to be sustained.
High and rising level of unemployment: the increase in population causes unemployment because the number of available vacancies is less than people that are willing and able work.
Dependence and vulnerability: this involve being exposed to possibe attack or harmed, either physically or emotionally.
Answer to Question 4
Welcome to Gboard clipboard, any text you copy will be saved here.Tap on a clip to paste it in the text box.Tap on a clip to paste it in the text box.Welcome to Gboard clipboard, any text you copy will be saved here.Tap on a clip to paste it in the text box.Tap on a clip to paste it in the text box.Welcome to Gboard clipboard, any text you copy will be saved here.Tap on a clip to paste it in the text box.Welcome to Gboard clipboard, any text you copy will be saved here.Name: Oboko Mmesoma Favour
Reg No: 2019/241347
Department: Combined social science (Economics/political science)
Email: obfav551@gmail.com
Assignment on Developmen Eco 361
Answer to Question 1
The conference in 1955 was the beginning of the political emergency resulting to a major role by China and India in promoting and changing the link between the third world and industrial countries. The United Nations at first numerically donated by European countries and countries of Europe transformed into something of a third world forum. The problem of unemployment then became the focus of an essential academic debate.
Answer to Question 2
Indications for measuring development
Human development index: it involves life expectation,education index, income index
Income per capita
Quality of life index: standard of living
Literacy rate : increase in knowledge among citizens
GNP: it involves GDP of nation’s with money earned by investment from abroad- income by non-nationals
GDP: it involves how much money made by a country from it’s product over a course of year.
GNP per capital : GDP divide population
Birth and Death rate: refers to the health care and heath Education in a country.
Indicators for measuring underdevelopment includes
High birth rates: This involves increase in over population.
Undernourishment: This is affected by low standard of living.
High levels of illiteracy: This is lack of knowledge on most economic issues.
Answer to Question 3
Common characteristics of Developing nations
Low level of living: This shows that the standard of living is very low in most developing countries.
Low levels of productivity: this show that the GNP and GDP of most developing countries are low as a result of low productivity.
High rates of population growth and dependency burden: when population is high and there is low productivity, citizens are tends to depend on other countries to be sustained.
High and rising level of unemployment: the increase in population causes unemployment because the number of available vacancies is less than people that are willing and able work.
Dependence and vulnerability: this involve being exposed to possibe attack or harmed, either physically or emotionally.Tap on a clip to paste it in the text box.Name: Oboko Mmesoma Favour
Reg No: 2019/241347
Department: Combined social science (Economics/political science)
Email: obfav551@gmail.com
Assignment on Developmen Eco 361
Answer to Question 1
The conference in 1955 was the beginning of the political emergency resulting to a major role by China and India in promoting and changing the link between the third world and industrial countries. The United Nations at first numerically donated by European countries and countries of Europe transformed into something of a third world forum. The problem of unemployment then became the focus of an essential academic debate.
Answer to Question 2
Indications for measuring development
Human development index: it involves life expectation,education index, income index
Income per capita
Quality of life index: standard of living
Literacy rate : increase in knowledge among citizens
GNP: it involves GDP of nation’s with money earned by investment from abroad- income by non-nationals
GDP: it involves how much money made by a country from it’s product over a course of year.
GNP per capital : GDP divide population
Birth and Death rate: refers to the health care and heath Education in a country.
Indicators for measuring underdevelopment includes
High birth rates: This involves increase in over population.
Undernourishment: This is affected by low standard of living.
High levels of illiteracy: This is lack of knowledge on most economic issues.
Answer to Question 3
Common characteristics of Developing nations
Low level of living: This shows that the standard of living is very low in most developing countries.
Low levels of productivity: this show that the GNP and GDP of most developing countries are low as a result of low productivity.
High rates of population growth and dependency burden: when population is high and there is low productivity, citizens are tends to depend on other countries to be sustained.
High and rising level of unemployment: the increase in population causes unemployment because the number of available vacancies is less than people that are willing and able work.
Dependence and vulnerability: this involve being exposed to possibe attack or harmed, either physically or emotionally.
Answer to Question 4
Yes, poverty has a face of a woman. This can be seen in relating the characteristics of poverty and linking it to the life of a woman in terms of difficulties in pregnancy. Attributes of poverty are Hunger, lack of shelter, being sick, undernutrition,unable to visit a doctor, illiteracy,fear for future, losing child due to illness and powerless. These attribute are also seen in a woman’s life most especially during pregnancy. Women gets unnecessarily sick during pregnancy because of the homonal changes in their system. They physical appearance changes such as change in hair and skin complexion which makes them look undernutritous. Most women see it not necessary in going to seek antennenta thereby being illiterate on that knowledge. Birth defect includes blindness, deafness,bone deformation which is of the same attribute to poverty. Therefore, poverty has a face of a woman.
2019/246656
1: On January 31, 1979, Deng Xiaoping, China’s paramount leader of the post-Mao era, boarded a plane for a historic visit to the United States. Deng was in very high spirits. How could he not be in such a bright mood? A few weeks prior, the People’s Republic of China (PRC) and the United States of America established diplomatic relations. This was a gigantic achievement for Deng, as it allowed him to accomplish a critical step toward his plan to launch China’s grand “reform and opening-up” project. The United States, as Deng then perceived, should play a central role in China’s drive toward modernity and beyond. Deng was not a talkative person, especially when he was with his associates. Yet he talked a lot during the cross-Pacific flight. Reportedly, Deng said something of the following effect to his associates:
Strategic and geopolitical considerations, ones shaped in response to what both countries perceived as grave security threats by the Soviet Union, served as the cornerstone of the relationship. The new partnership that Deng and the post-Mao Chinese leadership sought to build with Washington would remain highly valuable in terms of geopolitics and security. Yet, more importantly, China’s tacit alliance with Washington had to facilitate Deng’s new vision of looking to the United States and the capitalist West for ways to modernize China.
With respect to the above, Deng was ready to abandon the “revolutionary country” status that China had persistently claimed during the Maoist era. Along with the Chinese leadership’s desire and move to embrace the “world market,” controlled by global capitalism, as a central agent in its modernization drive, China during the reform and opening-up era would also gradually morph into an “insider” of the existing international systems and institutions dominated by the United States and the capitalist West. Thus, from a Chinese perspective, the global Cold War ended in many key senses during the mid-to-late 1970s—rather than the late 1980s and early 1990s—along with the Chinese-American rapprochement and, especially, Deng’s launch of the “reform and opening-up” project.
America’s perceptions of and attitudes toward China have also witnessed substantial, even dramatic, change in recent years. What is the meaning of China’s rise? What are the consequences? This fundamentally important question continues to puzzle American strategic thinkers, policymakers, and military planners. Moreover, a profound division among America’s political elites concerning how to define and deal with many of the country’s own widespread and entrenched structural issues (to be elaborated in the latter part of the essay), seems to have pushed many in the United States to identify China not as a strategic partner or fellow stakeholder, but as a strategic rival that now presents, and may continue to present in the future, serious challenges to “vital interests” of the United States as the world’s sole dominant power.
2: a: The IMF’s Country Classification Systems
The main criteria used by the IMF in country classification are i) per capita income level ii) export diversification iii) degree of integration into the global financial system. The IMF uses either sums or weighted averages of data for individual countries.
However, the IMF’s statistical Appendix[9] explains that this is not a strict criterion, and other factors are considered in deciding the classification of countries.
2: The World Bank’s Country Classification Systems
The classification tables include all World Bank members, plus all other economies with populations of more than 30,000. The World Bank’s classification of the world’s economies is based on estimates of gross national income (GNI) per capita. Previous World Bank publications might have referred to this as gross national product, or GNP. The GNI is gross national income converted to international dollars using purchasing power parity rates.[6] An international dollar has the same purchasing power over GNI as a U.S. dollar has in the United States. The GNI per capital is also used as input to the Bank’s operational classification of economies, which determines their lending eligibility.
3: United Nations Development Programme’s (UNDP) Country Classification System
The UNDP’s country classification system is calculated from the Human Development Index (HDI),[3] which aims to take into account the multifaceted nature of development. HDI is a composite index of three indices measuring countries achievement in longetivity, education and income. It also recognizes other aspects of development such as political freedom and personal security. The 2013 report which follows on from the 2010 report used the Gross National Income per capita (GNI/n) with local currency estimates converted into equivalent US dollars. It also uses equal country weights to construct the HDI distribution. In the classification system, developed countries are countries in the top quartile of the HDI distribution.
3: a: Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.it means the average person doesn’t earn enough money to invest or save money. They spend whatever they make.
2: b: High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health ca
3: c: Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
D: Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
4: yes poverty has the face of a woman..
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income-earning opportunities.
Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty.
Chibueze Manna Chioma
2019/244094
Eco major
Chibuezemanna@yahoo.com
Development Economics
Eco 361
1.The major role of China-India in political emergence of the third world .
China and India whose social and economic systems were sharply opposed played a major role in promoting the Bandung Conference, Indonesia in 1955 by changing the relation between the 3rd World and the industrial countries; Capitalist and Communist, discuss peace and the role of the Third World in the Cold War, economic development, and decolonization.
The major role played by this countries is that these countries have advanced in the technological know how.
2.Criterion and indicators for measuring development and under-development by the U.S, World Bank and other institutions.
The World Bank assigns the world economies into 4 groups and each year these classifications are updated each year on July 1 and are based on the GNI per capita of the previous years. These groups are;
• low income countries.
• lower-middle income countries.
• upper-middle income countries.
• high income countries.
These classifications change for two reasons;
• Factors such as economic growth, inflation, exchange rates and population growth influences the level of Atlas GNI per capita in each country.
• The World Bank’s official estimates of the size of economics are based on GNI converted to current U.S dollars using the World Bank Atlas method.
3.Common characteristics of developing nations.
• Low levels of living:
• Low levels of productivity:
• Widespread poverty:
• Dependence and Vulnerability:
• Traditional, rural and social structures:
• High and rising levels of unemployment and underemployment:
• High rates of population growth and dependency burdens:
4.“Poverty has the face of a woman”Discuss…
I disagree that poverty has the face of a woman not because I’d love to defend my gender as a female but because of the few reasons I would state.
• Showing the statistical research to the global poverty level by the World Bank and the U.S, the result published that The World Bank estimates that around 8.5 percent of the world’s population (685 million people) could be extremely poor by the end of 2022, and that poverty is now declining at a very slow rate of only 2 percent a year. The result never states or stigmatized poverty as a result as the high rate of poverty caused by women or females but was rather generalized to be caused by both male and female.
• Also the high rate of poverty was not largely caused the women but rather generalized due to unemployment and unwillingness to work by both genders.
NAME: UGWU CHINAZA BRIDGET
REG NO: 2019/241712
DEPARTMENT: SOCIAL SCIENCE EDUCATION (ECONOMICS)
1: Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
The economies of underdeveloped countries have been geared to the needs of industrialized countries, they often comprise only a few modern economic activities, such as mining or the cultivation of crops. Control over these activities has often remained in the hands of large foreign firms. The prices of third world products are usually determined by large buyers in the economically dominant countries of the West.
Third World, the technologically less advanced, or developing, nations of China and india generally characterized as poor, having economies distorted by their dependence on the export of primary products to the developed countries in return for finished products. These nations also tend to have high rates of illiteracy, disease, poverty and population growth and unstable governments.
2:Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
The World Bank categorizes countries based on various characteristics, such as geography, lending eligibility, fragility, and average level of income. When it comes to income , the World Bank divides the world’s economies into four income groups: high, upper-middle, lower-middle, and low.many countries’ incomes have transcended the income group thresholds over time. Because most parts of the world have experienced considerable economic growth in recent decades, and the classification thresholds are held stable in real terms, there are now fewer low-income countries and more countries have gained middle or high-income status.
3:Clearly discuss and analyse the Common Characteristics of Developing Nations.
a) Low standard of living or poverty:
There is widespread poverty in developing countries. The general living standard of people is very low due to their low income. That is why; they are not able to fulfill their basic necessities like food, shelter, cloth, etc. Majority of people are both in poverty and die in poverty. They live below the poverty line.
b) High growth of population:
There is rapid population growth in developing countries as compared to developed countries. The average annual growth rate of population in developing countries is about 1.5 % to 3 % whereas, in developing countries, it is about 0.7 % or about 1 %.
c) High dependence on agriculture:
Agriculture is the main occupation in developing countries. Majority of the population from 70 % to 80 % are engaged in developing countries whereas in developed countries 15 % or less depends on agriculture. The high dependency on agriculture is due to the low development of the non-agricultural sector.
d) Underutilization or insufficiency of natural resources:
Most developing countries are rich in natural resources. The natural resources in developing countries are either utilized or underutilized due to the various difficulties such as shortage of capital, the small size of the market, primitive technology. Nepal is rich in water resource but it is not being properly utilized due to the lack of capital.
e) Unemployment:
The rapid population growth has created the problem of unemployment. Due to the lack of developing agricultural sectors like trade & industries and other services. Most of the increased population has to depend on agriculture provided employment for a few day and other days, they have to remain unemployed.
4: It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Yes
Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition. The risks of increasing poverty grow in parallel with the number of women-headed households. Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
1: On January 31, 1979, Deng Xiaoping, China’s paramount leader of the post-Mao era, boarded a plane for a historic visit to the United States. Deng was in very high spirits. How could he not be in such a bright mood? A few weeks prior, the People’s Republic of China (PRC) and the United States of America established diplomatic relations. This was a gigantic achievement for Deng, as it allowed him to accomplish a critical step toward his plan to launch China’s grand “reform and opening-up” project. The United States, as Deng then perceived, should play a central role in China’s drive toward modernity and beyond. Deng was not a talkative person, especially when he was with his associates. Yet he talked a lot during the cross-Pacific flight. Reportedly, Deng said something of the following effect to his associates:
Strategic and geopolitical considerations, ones shaped in response to what both countries perceived as grave security threats by the Soviet Union, served as the cornerstone of the relationship. The new partnership that Deng and the post-Mao Chinese leadership sought to build with Washington would remain highly valuable in terms of geopolitics and security. Yet, more importantly, China’s tacit alliance with Washington had to facilitate Deng’s new vision of looking to the United States and the capitalist West for ways to modernize China.
With respect to the above, Deng was ready to abandon the “revolutionary country” status that China had persistently claimed during the Maoist era. Along with the Chinese leadership’s desire and move to embrace the “world market,” controlled by global capitalism, as a central agent in its modernization drive, China during the reform and opening-up era would also gradually morph into an “insider” of the existing international systems and institutions dominated by the United States and the capitalist West. Thus, from a Chinese perspective, the global Cold War ended in many key senses during the mid-to-late 1970s—rather than the late 1980s and early 1990s—along with the Chinese-American rapprochement and, especially, Deng’s launch of the “reform and opening-up” project.
America’s perceptions of and attitudes toward China have also witnessed substantial, even dramatic, change in recent years. What is the meaning of China’s rise? What are the consequences? This fundamentally important question continues to puzzle American strategic thinkers, policymakers, and military planners. Moreover, a profound division among America’s political elites concerning how to define and deal with many of the country’s own widespread and entrenched structural issues (to be elaborated in the latter part of the essay), seems to have pushed many in the United States to identify China not as a strategic partner or fellow stakeholder, but as a strategic rival that now presents, and may continue to present in the future, serious challenges to “vital interests” of the United States as the world’s sole dominant power.
2: A: The IMF’s Country Classification Systems
The main criteria used by the IMF in country classification are i) per capita income level ii) export diversification iii) degree of integration into the global financial system. The IMF uses either sums or weighted averages of data for individual countries.
However, the IMF’s statistical Appendix[9] explains that this is not a strict criterion, and other factors are considered in deciding the classification of countries.
2: The World Bank’s Country Classification Systems
The classification tables include all World Bank members, plus all other economies with populations of more than 30,000. The World Bank’s classification of the world’s economies is based on estimates of gross national income (GNI) per capita. Previous World Bank publications might have referred to this as gross national product, or GNP. The GNI is gross national income converted to international dollars using purchasing power parity rates.[6] An international dollar has the same purchasing power over GNI as a U.S. dollar has in the United States. The GNI per capital is also used as input to the Bank’s operational classification of economies, which determines their lending eligibility.
3: United Nations Development Programme’s (UNDP) Country Classification System
The UNDP’s country classification system is calculated from the Human Development Index (HDI),[3] which aims to take into account the multifaceted nature of development. HDI is a composite index of three indices measuring countries achievement in longetivity, education and income. It also recognizes other aspects of development such as political freedom and personal security. The 2013 report which follows on from the 2010 report used the Gross National Income per capita (GNI/n) with local currency estimates converted into equivalent US dollars. It also uses equal country weights to construct the HDI distribution. In the classification system, developed countries are countries in the top quartile of the HDI distribution.
3: 1. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.it means the average person doesn’t earn enough money to invest or save money. They spend whatever they make.
2: 2. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health ca
3: 4. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
5. Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
4: yes poverty has the face of a woman..
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income-earning opportunities.
Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty.
NAME: ODO LOVELYN CHIOMA
REG NO: 2019/241246
Department: ECONOMICS EDUCATION.
1.Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
China and India played a major role in promoting the political emergence of third world countries and in changing the relations between the third world and the industrial countries. China, with its communist system, and India, with its democratic socialist system, both provided alternative models for third world countries looking to develop their own political and economic systems. Both nations also played important roles in shaping the global conversation about the relationship between developed and developing nations, and worked to promote the interests of the third world on the international stage.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
The traditional method of defining developing countries is by their Gross National Income (GNI) per capita per year. However, other organizations such as the United Nations and World Bank have developed more comprehensive criteria and indicators for measuring development and underdevelopment. These criteria may include factors such as poverty, education levels, healthcare, infrastructure, and economic growth. Additionally, organizations such as the United Nations Development Programme (UNDP) have developed the Human Development Index (HDI) which uses a combination of indicators such as life expectancy, education and standard of living to measure a country’s development status.
3.Clearly discuss and analyse the Common Characteristics of Developing Nations
The countries in which the process of developmenthas started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Here we will discuss the different characteristics of developing countries of the world.
Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
The common characteristics of developing nations are briefly explained below.
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
4.It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Poverty has a female face and the global economic downturn will have a significant impact on women as more of them lose jobs and are forced to manage shrinking household incomes,” Ezekwesili said May 8 at the “Women and the Changing Global Outlook” conference organized by the British Embassy in Washington, and the National Geographic Society.
“The face of poverty is female,” she said, sketching the portrait of the typical poor African youth.
“She is 18.5 years old. She lives in a rural area. She has dropped out of school. She is single, but is about to be married or be given in marriage to a man approximately twice her age. She will be the mother of six or seven kids in another 20 years,” said Ezekwesili, citing the findings of the latest edition of the annual World Bank publication, Africa Development Indicators (ADI).
The Global Crisis and its Impact on Women and Girls
The global economic crisis, Ezekwesili explained, is likely to hit African women on two fronts. First, it will arrest capital accumulation by women, and second, it will drastically reduce women’s individual incomes as well as the budgets they manage on behalf of households. This would have damaging consequences notably on the girl child.
With the education of boys largely sheltered from shocks and parents often more likely to pull out a girl from school than a boy when tuition becomes hard to find, the World Bank Vice President cited research findings on household income declines in Uganda and a fall in income from agriculture in Madagascar where girls were first to be pulled out of schools.
The World Bank has warned that an additional 700,000 African infants are likely to die before their first birthday as a result of the crisis. The girl child will be hit hardest. Research has shown that “girls are five times more likely to be impacted by increases in infant mortality rate than boys.”
Unlike in rich countries such as the United States, where more men have tended to lose their jobs compared to women, the crisis in Africa is leaving women with ever fewer job choices. In many export-oriented industries – for example, the cut-flower industry in Ethiopia, Kenya and Uganda and the textile industry in Kenya and Lesotho – it is women, not men, across Africa who are bleeding jobs because of the crisis.
Declining remittances and a tightening of micro-finance lending would further restrict the funds available to women to run their households.
Gender-focused Development Initiatives
Conference participants reached consensus that development and poverty alleviation strategies that fail to target girls and women have little to no chance of success in Africa.
Ms. Ezekwesili drew attention to the Gender Entrepreneurship Markets (GEM) initiative launched by the Bank’s private sector arm, the International Finance Corporation (IFC), to enhance women’s access to finance and address gender barriers to the business environment. The $50 million GEM has benefited over 1,500 women in 18 sub-Saharan African countries and will be enhanced by a recent $120 million loan program that the IFC signed with EcoBank to benefit businesswomen in five countries.
In addition, the Bank has adopted a Gender Action Plan and launched an $11 million, three-year Adolescent Girls Initiative to train, mentor, empower and facilitate the transition of young African women to work in Liberia, Southern Sudan and Rwanda. In addition, 83 Bank-funded projects totaling $4.4 billion have female economic empowerment components; the majority of them (33) in agriculture, education (34), infrastructure (11) and private sector development (5).
Other speakers at the conference struck similar chords.
Speaking on behalf of the British ambassador to Washington, Sir Nigel Sheinwald, the deputy head of mission, Dominick Chilcott, stressed the link between women’s empowerment and development. The road to sustainable development, he said, is only attainable if it is built on a gender inclusive agenda.
“We must take the opportunities presented by the crisis to innovate and invest in women, whether it is proposals to introduce better social programs, finding ways of integrating women into the labor force, or reducing discrimination in financial markets,” he said, citing remarks by Sheinwald.
In a video message, Ms. Sarah Brown, the spouse of British Prime Minister Gordon Brown, spoke of the need for world leaders to tackle “the many injustices that remain” against women.
Ambassador Melanne Verveer, U.S. President Barack Obama’s Ambassador-at-Large for Global Women’s Issues at the State Department, urged development agencies to “think women”.
“You cannot beat poverty without putting women at the center of your development strategies,” she said.
“Women’s equality is not just the right thing to do, it is also smart economics,” she added, paraphrasing the World Bank. She pointed out that women were key to food security and agriculture; essential players in the promotion of the rights of the child; major actors in health care provision; yet continued to suffer discrimination in powerful board rooms; and on higher rungs of corporate ladders.
however, I agree that poverty has the face of a woman and we have seen this in many of our communities. Both man and women have the responsibility to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and fierce figure who you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
Answers
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.
2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.
3.
1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
5.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
6.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.
7.High population growth: Developing nations tend to have higher population growth rates, which can put a strain on resources and limit economic growth.
4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment.
Additionally, women are also more likely to live in poverty in older age due to the lack of social security and pension schemes that cover for women.
NAME : ODIMBU GIFT AWELE
REG. NUMBER: 2019/245398
DEPARTMENT: ECONOMICS
1) 1.)The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.
2. The Human Development Index (HDI)
The measurement of economic development can be done through the human development index (the HDI).
This is the most used index to measure economic development. It takes the following three factors into account:
Health. The HDI measures the average life expectancy in a specific country and compares it to the global average.
Education. The HDI measures the mean years of schooling and expected years of schooling in a country.
Standard of living. The HDI measures the gross national income (GNI) per head, using the principle of purchasing power parity, PPP.
ii) The Genuine Progress Indicator (GPI)
The Genuine Progress Indicator builds off GDP as an economic indicator by including measures of the impact of economic growth on the environment as well as various social factors. The GPI takes GDP into consideration while also measuring the negative impacts of growth. For example, In this measurement, resource depletion and degradation are subtracted from the positive impacts of growth to determine the level of development. The GPI tries to get a bigger picture of the average quality of life by measuring information such as housework, parenting, the costs of crimes, and the value of volunteering work.
iii) The Human Poverty Index (HPI)
The Human Poverty Index complements the HDI as it is an indication of the standard of living in an economy. It considers the level of poverty and deprivation of a community in a country. The HPI uses two indices:
The HPI-1 is used to measure developing countries.
The HPI-2 is used for developed countries that are part of the Organization for Economic Co-operation and Development (OECD).
The HPI has limited utility as it combines the average deprivation levels of each dimension and it can’t be linked to any particular group of people.
iv). The Multidimensional Poverty Index
The multi-dimesnsion poverty assesses poverty at an individual level. MPI replaced the HPI in 2010. It differs from the HPI as it assesses poverty at the individual level. For example, If one person is deprived of a third or more of ten (weighted) indicators, the global index identifies them as ‘MPI poor’. The extent of poverty is measured by the percentage of deprivation a person is experiencing.
3). i. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments. It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
ii) High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
iii) Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
iv) Massive Poverty:
The majority of people in developing countries have been affected by the issue of poverty. Even the most fundamental demands cannot be met by them. The issue of poverty is also reflected in the low per capita in emerging countries. in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access.
V) Unemployment and underemployment:
significant issues and prevalent traits of emerging or undeveloped countries include unemployment and underemployment. The issue of underemployment and unemployment in emerging nations is brought on by factors such as an over-reliance on agriculture, a lack of industrialization, an improper use of natural resources, a lack of workforce planning, and others. Underemployment is a more significant issue than unemployment in developing countries.
Because there are no alternatives to these types of professions, people are forced to work at subpar jobs. The problem of underemployment is widespread in several nations, particularly in their rural and underdeveloped regions.
4). The harmonization of policies for economic growth, social equity and gender equity is a challenge that can no longer be ignored.
Poverty is considered as the result of power relations that first of
all affect men and women in a different way, but then also indigenous and Afro-descendent women, older adults and the inhabitants of certain areas. The multidimensional nature of this phenomenon is shown, as well as the virtues and limitations of traditional forms of measuring poverty, drawing attention to specific aspects which explain the
disadvantages suffered by women: the invisibility of unpaid domestic labour, the time poverty associated with such labour; the labour and wage discrimination against women; the importance of studies of the family from a gender perspective and the challenges for public policy.
In order to avoid discriminatory biases it is suggested that efforts must be made to develop women’s economic autonomy and promote a reconciliation of private and domestic life by encouraging a mass influx of men into the sphere of care.
Name: Eze Queen Amarachi
Department: SOCIAL SCIENCE EDUCATION (EDUCATION ECONOMICS)
Reg number: 2019/249427
1.Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
Yes, China and India played a major role in promoting the political emergence of third world countries and in changing the relations between the third world and the industrial countries. China, with its communist system, and India, with its democratic socialist system, both provided alternative models for third world countries looking to develop their own political and economic systems. Both nations also played important roles in shaping the global conversation about the relationship between developed and developing nations, and worked to promote the interests of the third world on the international stage.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
The traditional method of defining developing countries is by their Gross National Income (GNI) per capita per year. However, other organizations such as the United Nations and World Bank have developed more comprehensive criteria and indicators for measuring development and underdevelopment. These criteria may include factors such as poverty, education levels, healthcare, infrastructure, and economic growth. Additionally, organizations such as the United Nations Development Programme (UNDP) have developed the Human Development Index (HDI) which uses a combination of indicators such as life expectancy, education and standard of living to measure a country’s development status.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Developing nations, also known as less developed countries (LDCs), have several common characteristics that distinguish them from developed nations.
1. Low per capita income: Developing nations typically have lower levels of per capita income compared to developed nations. This results in a lower standard of living for the majority of the population.
2. High poverty and unemployment: Developing nations often have high levels of poverty and unemployment, which can lead to a lack of access to basic necessities such as food, housing, and healthcare.
3. Dependence on agriculture and natural resources: Developing nations often have economies that are heavily dependent on agriculture and natural resource extraction. This can lead to a lack of diversification and a vulnerability to fluctuations in commodity prices.
4. Limited access to education and healthcare: Developing nations often have limited access to education and healthcare, which can inhibit economic growth and social development.
5. Poor infrastructure: Developing nations often have poor infrastructure, including inadequate transportation and communication systems, which can inhibit economic growth and make it difficult for businesses to operate.
6. Political instability: Developing nations are often plagued by political instability, which can make it difficult to attract foreign investment and can inhibit economic growth.
7. High population growth: Developing nations often have high population growth rates, which can strain resources and make it difficult to meet the needs of the population.
Overall, Developing nations are facing a lot of challenges in terms of socio-economic and political stability, lack of resources and inadequate infrastructure. These challenges are interconnected
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
The statement “poverty has the face of a woman” suggests that women are disproportionately affected by poverty. This is supported by data from various countries showing that women have higher poverty rates than men.
There are several reasons why this may be the case. One is that women are often paid less than men for the same work, which makes it harder for them to lift themselves out of poverty. Additionally, women may be more likely to take on caregiving responsibilities, which can make it harder for them to participate in the workforce and earn a decent income.
Another reason is that women face greater discrimination and gender bias in many societies, which can limit their access to education and job opportunities. This can make it harder for them to acquire the skills and experience needed to secure well-paying jobs.
In addition, women are more likely to be in vulnerable and informal employment, where they have limited social protections and are paid low wages. They also tend to have less access to assets, such as land and property, which can make it harder for them to build wealth and provide for themselves and their families.
Overall, the data supports the statement that poverty has a disproportionate impact on women. As a economist I agree with this statement, but it is important to note that poverty affects people of all genders, and addressing poverty will require a comprehensive approach that addresses the specific challenges faced by women.
NAME: ONYISI SUNNY HOPE
REG/NO: 2019/251206
DEPARTMENT:ECONOMICS.
1. As a result of decolonization, the UN at first numerically dominated by European countries and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, although essentially academic debate . Despite the debate, the unity of the third world remain hypothetical expressed mainly from the platforms of international conferences.
2.World bank . Countries with a GNI of Us$11,90 and less are defined as developing specified by the world bank 2015 and $12275 World bank 2019. A long and healthy life, as measured by life expectancy at birth;
knowledge, as measured by mean years of schooling and expected years of schooling; and
a decent standard of living, as measured by GNI per capita in PPP terms in US$.
3.Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
2. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
3. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
4. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
5. Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector.
4.Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture …14 Apr 2013
Ugwoke Michael-mary I
2019/248716
Economics
Ugwokemichael109@gmail.com
1. The two countries were freed from colonial control thanks to their cooperation. Even though their social and economic systems were different, this distinction altered how the capitalist and communist societies interacted. The decolonization was a result of this collaboration. As a result, the United Nation, which is dominated by European nations, began to deteriorate into a third-world country. This sparked a significant policy discussion on underdevelopment and the development of new theories, mostly on the stage of an international conference.
2, conventional speech Underdevelopment has traditionally been measured in terms of GNI per capita. However, measuring progress via a GNI is a more limited concept than development itself. Therefore, the United Nations, World Bank, and Bretton Woods organizations used an index that took into account population growth, exchange rates, inflation, and economic growth. This index can be used to gauge a country’s development on a wider scale than GNI per capita because infrastructure changes, income distribution, and ownership of the factors of production must all change for growth to take place.
3. a) Low living standards: The standard of living is extremely low in all developing countries. Many people in underdeveloped countries struggle to meet their most basic requirements, including food, housing, and clothing.
They have a low standard of living because they must find a way to exist without access to all of these essential daily necessities.
b) Low productivity: The majority of emerging countries are experiencing a downturn or recession. wherein there is no maximal production use of the available resources. As a result, emerging countries have poor productivity and low output; often, input exceeds output.
c) High pace of population increase and dependency burdens: Developing countries experience rapid economic development.
d) High and rising levels of unemployment and underemployment: Developing countries experience high levels of unemployment and underemployment because there are fewer job possibilities there than there are people who can work ( labour market ). Because of this, a sizable portion of the population is unable to find work, and some are dissatisfied with the current unemployment rate and low employment rate. creating underemployment and unemployment, which causes social insecurity.
e) Traditional, rural social structure: Rural areas in developing countries tend to have a lot of shoddy infrastructure. Rural areas in underdeveloped countries have little to no modern infrastructure and social structure.
f) widespread poverty: Developing countries lack the resources necessary to support their expanding populations.
g) Significant reliance on agricultural output: Developing nations are heavily dependent on agriculture. due to a lack of cutting-edge machinery and technologies that may enhance the agricultural industry. With the help of this technology, the agricultural sector might develop to the point where it can sufficiently feed the country, import goods, and serve as a source of raw materials for other sectors.
h) Primary product exports: The majority of developing countries sell their primary production goods at a discount to developed countries. and pay more for manufactured goods imported from developed countries. This would lead to a deficit in those developing countries’ balance of payments.
I Dependence and vulnerability: Because so many people in developing countries don’t have jobs, there is a high rate of dependency in these countries.
4, I agree with the statement “ poverty has the face of a woman ” in a developing nations they hardly invest into the population of women, like a low rate of women attend school and acquire the skill they need to be productive in society cause a large number of population women to be in poverty and have high dependency on there male counterparts.
Name:Ifesinachi Chidinma Ada
Reg No:2019/246106
Department:Combined social science(Economics/psychology)
Course title:Developmental Economics
Course code:Eco 361
1)Africa,Asia and Latin America are wallowing in mass poverty and socio-economic underdevelopment.Third world countries are economically poor and technologically backward and largely characterized by underdeveloped structures,high mortality,lower mass literacy,large rural population and so on.
2)A country’s degrees of progress is indicated by its HDI(human development index),legatum prosperity index,social progress index,Gross domestic product which measures both domestically produced items and those exported to other nations.These indicators are tools that measure d extent of which countries contributes to social,economic,and environmental progress of their citizens.
3i)Mass Poverty:
Most individuals in developing nations have been suffering from the problem of poverty.The low per capita in developing nations also reflects the problem of poverty.So,poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs,illiteracy,unemployment and lack of other socio-economic participation and access apart from low per capita income.
ii)Low per capita real income:
The real per capita income of developing countries is very low as compared to developed countries.This means the average income or per person income of developing nations is little and it is not sufficient to invest or save.
iii)Rapid population growth:
Developing countries have either a high population growth rate or a larger size of population.There are different factors behind highest population growth in developing countries.
iv)Lack of infrastructure:
Infrastructural development like the development of transportation,communication,irrigation,power,financial institution is not well developed in developing countries.
v)The problem of unemployment and underemployment:
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations.The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture,low industrial development,lack of proper utilization of natural resources,lack of workforce planning and so on.
4)Poverty is multi-dimensional not only lack of income but also of nutrition and health,they are denied education and the ability to earn an adequate income. Poverty is said to have the face of a woman,woman’s face is the triple burden of child bearing,child rearing and domestic unpaid labor,they have been denied opportunities for growth without access to adequate health care m,education,or income and simultaneously forced to live in the tight bind of culture and tradition.
Name: ALEKE CHINWENDU CONFIDENCE
Reg no: 2020/247015
Dept: Library and Information science (ECONOMICS)
Course Title: Economics Development
Course code: Eco 361
Assignment on Eco 361.
No. 1.Ans.
The reform and open_door policy of China began with the adoption of a new economic development strategy at the third planary session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism. Relations between contemporary China and India have been characterised by border disputes, resulting in three military conflicts – the Sino-Indian War of 1962, the border clashes in Nathu La and Cho La in 1967, and the 1987 Sumdorong Chu standoff.However, since the late 1980s, both countries have successfully rebuilt diplomatic and economic ties. Since 2008, China has been India’s largest trading partner and the two countries have also extended their strategic and military relations.
No. 2..Ans.
Economic development indicators are used to measure the well_being of people by considering factors that influence the standard of living which includes education. Health employment rates and gender equality. And the standard criteria for evaluating a country’s level of development are income per capita or per capita gross domestic product the level of industrialization the general standard of living and the amount of technological infrastructure.
No. 3. Ans.
Developing countries have been suffering from common attributes like mass poverty, high population, growth, lower living standards, illiteracy unemployment and underemployment, Underutilization of resources, socio-political variability, lack of good governance, Uncertainty, and Vulnerability, low access to finance and so on.
No. 4.Ans.
Yes because Women are the majority of the poor due to cultural norms and values, gendered division of assets and poverty dynamics between men and women,indeed women and girls beer an unequal burden of unpaid domestic responsibilities and are over represented in informal and precarious jobs Women also possess in herent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continues to be based on the idea that men are breadwinners and women are dependents.
Name: Odoh Glory Chidera
Reg no: 2019/244719.
Department : Combine Social Science (Economics /Sociology)
Course code : Eco 361
Answers
(No 2). The standard criteria for evaluating a country’s level of development are income per capita or per capita gross domestic product, the level of industrialization, the general standard of living, the amount of technological infrastructure.
The main social indicators of development include education, health and employment rates and gender equality. Some examples of social indicators of development includes : Education levels – for- example hie many years of schooling children have. Health often measured by life expectancy. Indicators of under development includes : high birth rate, high infant mortality, under nourishment, a large agricultural and small industrial sector, low per capita GDP, high levels of illiteracy, and low life expectancy.
(No 3).
Developing countries also known as under developed, poor or third world countries etc. These countries are in a hurry for economic development by utilizing their resources.
However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develope.
The following are some of the common characteristics of developing nations.
The major characteristics of developing nations or country is low per capita real income. The real per capita income of developing nations is very low as compared to developed countries. This means that the average income ir per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries or nations results in low savings, investment and ultimately creates a vicious cycle of poverty.
(B). Rapid population growth : Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth un developing countries. The higher the child infant mortality rates in such countries compel or mandate people to feel insured and give birth to more children. This high or rapid population growth is caused by lack of family planning education, lack of sec education and believes that additional kids means additional labor force which in turn means additional income and wealth etc. Also this rapidpopulation growth is also caused by the belief that is God that gives Children and this will make families to be giving birth anyhow.
(C). Unemployment and under employment : These are also another bigger problems of developing nations. These emerged due to excessive dependence on agriculture, low industrial development etc.
In developing nations, the problem of under development is more serious than unemployment because people are made to take up a hob that is below their standards just to make ends meet.
(No4). I strongly agree that poverty has the face of a woman because in our societies today, women are disregarded especially in families in the basis that women don’t bring anything to the table ( contribute in the running of family).
We have this mind set or mentality that is only men that are breadwinners in various homes or family and this has made our women more lazy with the saying that women are oriakus’ not okpata aku.
Women are majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women.
In our families today, when a woman marries a rich man and along the run tells her husband that she wants to be doing something that will be bringing her money, the husband will decline such request ir idea from the wife on the basis that he is working for the family and as such the woman doesn’t have the need to work because he provides for the family and this will make the woman to depend perpetually on the income of the husband.
Also un the olden days, our fore fathers saw the idea of sending a girl child to school as a waste of money or resources because they believe that the only achievement that will cone from the girl child is marriage and is in this case that the issue of nwanyi bu igbo ndi ozo came to stay.
Worldwide, women are driven further into poverty by inflated food prices. Women’ s experience of poverty. Girls and women in poor household bear a disproportionate share of the work and responsibility of feeding and caring for family member through unpaid household work. For instance, in poor rural households, women’s work is dominated by activities such as firewood, water and fodder collection, care for livestock of subsistence agriculture.
In So many villages today, the women living in poverty is really very high because of the mistakes of their fathers and the mentality they grew up with.
Answers:
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.
2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.
3.
1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
5.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
6.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.
7.High population growth: Developing nations tend to have higher population growth rates, which can put a strain on resources and limit economic growth.
These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.
4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.
Additionally, women are also more likely to live in poverty in older age due to the lack of social security and pension schemes that cover for women.
Aniebonam Juliana Nneamaka.
2019/244559.
Economics education.
1. The conference held in bandung in 1955 was attended by 29 Asian and African countries with china and India inclusive, India was part of those who organized the conference and the object of the conference was political self-determination, mutual respect for sovereignty, non-aggression, non-interference in internal affairs, and equality. These were the issues the conference centered on. At the end of the conference, they all signed a communique which showed a collective political project against colonialism and imperialism and for self determination and racial equality.
They were united in their fight against colonialism and urged other countries under colonial rule to fight for independence.
2.
3. ★ Low levels of living— The first indicator of development in the economy is improvement in the standard of living of the citizens, the underdeveloped countries have low standard of living.
★ High rate of population growth and dependency burden— In the developing nations there is high rate of population growth and the resources to sustain the population is not available, this also leads to poverty, for example, in a family where there are many unemployed people and only one or two persons are employed, the family will depend on those two people for all their needs, and when this happens, their income/resources will not be enough to sustain the whole family.
★ Wide spread poverty— In the developing nations, there are more people living below the average poverty line, that is why you find more poor people in the developing countries than the developed ones.
★ Substantial dependence on agricultural products and primary-product exports— Those in the developing nations focus more on subsistent farming to satisfy their needs, they don’t usually cultivate for export, most of their farming is for their personal consumption or for exchange within their locality, they do not have enough resources to produce for export.
★ The developing nations mostly engaged in agriculture, they produce the raw materials that the developed countries need for their production, they rearly venture into industrialization and most of the industries are not functioning that is why after exporting their raw materials at cheap rates, they will still import it back into the country as finished goods at a higher rate, thereby creating market for the finished goods of the developed countries.
4. I agree that poverty has the face of a woman because women have higher rate of poverty compared to men, just like the developing countries compared to the developed ones, in most developing countries, women are subjected to live in poverty and they find it hard to change the situation they find themselves in, most women around the world have to live according to some norms and customs that does not allow them to do somethings even if they wish to unlike their male counterparts.
In some countries women are not allowed to go to school or get a job and this will limit their opportunities, most times women stays at home and take care of the house/ family without being paid,or receiving any income for it, their only source of income is the money they are given for the up keep of the family which is barely enough to sustain the family.
Women are constrained by the society and they miss out on many opportunities because they are not empowered.
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
ANSWER:
China and India have become global economic powers. Even at the market exchange rate, China overtook Japan in 2010 as the world’s second largest economy. China’s trade and financial activities, India’s emergence as a technology and innovation hub and both countries’ commerce and investment interactions with other developing nations have been covered extensively in all forms of media.China and India are both regarded as economic and political drivers of the international economy, particularly in the trade arena and in regards to global governance. Their economic engagement with developing countries and regions entails interactions in the areas of labour, human rights, international relations, security and environmental sustainability. The potential threats are mostly associated with trade and financial flows and with the social and political implications of China’s financial outflows.Nevertheless, in the midst of the recent global economic crises, China and India’s demand for developing country goods proved to be a cushion to the declining flows of resources from advanced nations. China and India influence global economic and political dynamics and can provide alternative sources of development assistance for developing countriesChina and India’s economic success has been largely interpreted as the result of thriving economic and political reforms. The unparalleled performance of China and India and their influence on the world economy, has been larger and faster than implied in earlier research.However, the political economy view of such phenomena cannot be overlooked, particularly in the case of China. Therefore, it is pertinent to emphasize the role of the government in designing and implementing successful development policies and structural reforms.First, a key lesson from China’s experience is the adoption of a pragmatic approach to economic reforms (which was the turning point in China’s economic development) and the adaptive capacity of the country’s economic agents to this process.Second, industrial policy has been at the heart of development policies and strategies in developing countries, although not particularly so in India. As in the case of other strategies and economic reforms, this policy’s implementation produced varied outcomes, with different levels of success. Third, trade and the liberalization of commercial policies have played a primary role in the Southern Engines’ growth success.The interface of trade liberalization and domestic reforms has contributed to their success, akin to developing and transition countries. Decentralization and privatization of state-owned enterprises is another area of policy accomplishment. Also, the formulation of economy-wide development strategies should be a balanced outcome of the government and private agent decisions and choices, reflecting at the same time the country’s evolving and comparative advantages. These policies and processes should also adjust to the continually changing global economy.Needless to say, growth and development strategies are challenged by the multiplicity or non-uniqueness of institutional arrangements needed for reforms to succeed and to achieve desirable ends. Many generations of reforms have led an international agenda, but the lessons provided by the experiences of countries such as the ‘Asian Giants’ China and India, and other successful emerging economies — such as Brazil and South Africa — might prove to be more inspiring and generate more positive spill overs for other developing countries due to their autonomous and uncompromised nature.The development approaches and growth paths of China and India (and other emerging countries), highlight the impact on the global distribution of wealth. Rapid growth has been a key driver behind poverty reduction and the expected convergence of per capita incomes at the national and international levels. This has prompted the growth of a rapidly emerging ‘global middle class’ — especially in China and India — defined as a group of people who can afford, and demand access to, the standards of living previously only accessible to those in advanced economies.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
ANSWER:
The United Nations (UN), its agencies, the Bretton Woods Institutions and the World Trade Organization, as well as other multilateral bodies,reached a consensus around the shared objectives of achieving the MDGs and the partnership between developed and developing countries:
1. The developing countries are expected to focus on good governance, sound economic and social policies, and robust institutions that will help mobilize resources from all sources—public, private, foreign, and domestic;
2. The developed countries are expected to reduce barriers to trade and promote an international economy more conducive to growth and development, to provide adequate aid resources in the form of private capital flows, to provide additional development assistance to support those efforts, and (under the Heavily Indebted Poor Country Initiative) help the developing world to ease the debt burdens and support them in effective management of their external debts (see also UN Department of Economic and Social Affairs (UN, 2004)).
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Answer:
A. Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
B. Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
C. Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
D. The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
ANSWER:
Almost 25 years ago, a UN Human Development Report claimed that “poverty has a woman’s face”. Gender inequality is a major cause and effect of poverty. An estimated one in three women experience gender-based violence in their lifetime and women are statistically more likely to live in extreme poverty than men. It is simply not right that millions of women are disproportionately affected by poverty, discrimination and violence.Although our human interconnectedness means that poverty affects everyone negatively, women and children stand at the centre of that injustice. Poverty, unless the imbalance is redressed, is handed down with each new generation inheriting the challenges and burdens of an unjust system.To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mind sets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.It is no surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.Unsurprisingly, few poor women have hope of escaping this poverty as there are so many odds stacked against them. Despite laws that favour them, even richer women are regularly denied land inheritance by emotional coercion, forced marriage and even by ‘marriage’ to the Quran.The current political situation prevailing in the country presents a mixed picture for women’s progress and development. On the one hand, there are several forward-looking laws and amendments, widespread provision of safety nets like the Benazir Income Support Programme and increased school enrolment for girls. On the other hand is the snail’s pace at which the bureaucracy moves to implement those laws. Then again, there’s society’s stubbornly ‘eyes shut’ attitude to women’s rights and progress, the lack of recognition that women’s progress requires an acceptance of their constitutionally guaranteed equal status as citizens of this country.
1. Two countries whose social and monetary frameworks were forcefully gone against China and India-assumed a significant part in advancing the political rise of the underdeveloped nations and in changing the connection between the third world and the modern nations, entrepreneur.
China and India are both significant non-industrial nations that play had a huge impact in advancing the political rise of other emerging nations, otherwise called the “Third World.” The two nations have special financial and political frameworks that have affected the connection between the Third World and the industrialized nations, entrepreneur and communist
India, then again, has a blended economy and a multiparty majority rule framework. Since acquiring autonomy from England in 1947, India has taken huge steps in financial turn of events and has become perhaps of the quickest developing significant economy on the planet. India has likewise assumed a significant part in advancing the political rise of other emerging nations, especially in the space of a majority rules system and common freedoms.
China has a communist arranged economy and a one-party political framework. The Chinese Socialist Coalition (CCP) has been in power starting around 1949, and during this time, the nation has gone through quick industrialization and monetary turn of events. China has been a significant forerunner in the Third World, giving guide and speculation to other emerging nations and supporting for a more fair worldwide monetary framework.
Both China and India have likewise been dynamic in worldwide associations like the Unified Countries and the G20, capitalizing on their leverage to advance the interests of non-industrial nations and push for an all the more fair and impartial worldwide financial framework.
By and large, the two countries play had a significant impact in advancing the political rise of the Underdeveloped nations and in changing the connection between the Third World and the industrialized nations, entrepreneur and communist. They have different methodology yet both have been compelling in molding the worldwide political and financial scene.
2. Generally, Agricultural nations are characterized by their Gross Public Pay (GNI) per capita each year. Nonetheless, the Unified Countries, World Bank and other Bretton Woods Organizations have created numerous different standards and pointers for estimating advancement and being worked on.
Customarily, agricultural nations have been characterized by their low Gross Public Pay (GNI) per capita. Nonetheless, as the idea of improvement has advanced, so too have the rules and markers used to quantify it.
The Unified Countries, World Bank, and other Bretton Woods organizations have fostered a scope of pointers to gauge improvement, including the Human Advancement File (HDI), which considers factors like future, schooling, and way of life. The Multi-layered Destitution Record (MPI) likewise takes a gander at various elements of neediness, including wellbeing, training, and expectations for everyday comforts.
Different pointers incorporate the Orientation Advancement Record (GDI) which estimates orientation imbalances in key improvement regions like wellbeing, training, and monetary support, and the Orientation Fairness File (GEI) which estimates orientation correspondence in unambiguous regions like work, governmental issues, and power.
Furthermore, The Unified Countries likewise utilizes the Maintainable Improvement Objectives (SDGs) as a proportion of improvement, which depends on 17 objectives that are interrelated and plan to accomplish reasonable improvement in regions like destitution, disparity, and ecological supportability.
In general, while GNI per capita is as yet a significant proportion of monetary turn of events, it no longer fills in as the sole mark of a country’s general degree of improvement. All things considered, a scope of markers is utilized to give a more thorough image of a nation’s advancement and difficulties.
3. Obviously talk about and break down the Normal Qualities of Non-industrial Countries.
Non-industrial countries, otherwise called less evolved nations (LDCs), share a few normal qualities. Probably the most outstanding include:
Low per capita pay: Emerging countries will generally have low degrees of pay per individual, frequently because of low degrees of financial turn of events and industrialization.
Elevated degrees of destitution and disparity: Many emerging countries have elevated degrees of neediness and imbalance, with a huge level of the populace living in destitution and a little first class controlling a lopsided measure of riches.
Reliance on agribusiness and normal assets: Non-industrial countries frequently have economies that are vigorously subject to horticulture and the extraction of regular assets, like minerals and oil.
High populace development: Non-industrial countries frequently have high populace development rates, which can overburden assets and block financial turn of events.
Low degrees of human turn of events: Emerging countries will generally have lower levels of human turn of events, as estimated by pointers like wellbeing, schooling, and expectations for everyday comforts.
Political unsteadiness: Emerging countries frequently have a background marked by political precariousness, including continuous upsets, nationwide conflict, and ethnic struggles.
Elevated degree of debasement: Agricultural countries frequently have elevated degrees of defilement, which sabotages law and order and can make it hard for organizations to work and for individuals to get to essential administrations.
Absence of framework: Emerging countries frequently have insufficient foundation, including unfortunate transportation, restricted admittance to power and clean water, and deficient sterilization.
Absence of admittance to innovation: Non-industrial countries will generally have lower levels of admittance to innovation, which can restrict monetary development and make it challenging for individuals to get to data and speak with the remainder of the world.
High obligation: Emerging countries frequently have elevated degrees of obligation, which can make it hard for them to put resources into monetary turn of events and work on the expectations for everyday comforts of their kin.
4. It has been contended that destitution has the substance of a lady. As a maturing Financial specialist, obviously examine and investigate this assertion. Do you concur or conflict? If indeed, why? If you no?
The explanation that “neediness has the essence of a lady” alludes to the possibility that ladies are excessively impacted by destitution and disparity. This is frequently upheld by information showing that ladies have lower paces of schooling, work, and pay contrasted with men, and are bound to live in neediness.
I, as a language model don’t have the capacity to concur or differ yet I can give you a portion of the reasons that help this assertion.
There are a few factors that add to this peculiarity. One is the orientation pay hole, and that implies that ladies are paid not as much as people for a similar work. This puts ladies in a difficult situation with regards to making enough to get by and supporting themselves and their families.
Another variable is the absence of reasonable childcare and other help benefits that make it challenging for ladies to adjust work and family obligations. This can prompt ladies exiting the labor force or being not able to fill in however many hours as men, which can affect their acquiring potential.
Furthermore, ladies are many times excessively addressed in the casual economy, which will in general be low-paying and unsound. This can make it challenging for ladies to get steady, well-paying position, and to construct investment funds and resources.
By and large, obviously destitution and imbalance excessively influence ladies. Nonetheless, it is essential to take note of that neediness isn’t restricted to ladies, as men and kids can likewise be impacted by destitution.
It would be critical to likewise address the hidden reasons for neediness and imbalance, like separation, absence of admittance to training and medical services, and deficient social assurances, to resolve the issue really.
.
Name: Ukaegbu Nneoma Roseline
Reg number:2019/245510
Department:Economics
1.Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.Economic development indicators are used to measure the well-being of people by considering factors that influence the standard of living in an economy.
The recent renaissance of China and India is owed in large measure to their productive integration into the liberal economic order built and sustained by American hegemony in the postwar period. As a result of that integration, both of these giants have experienced dramatic levels of economic growth in recent decades. China’s economic performance, for example, has been simply meteoric, exceeding even the impressive record set by the first generation of Asian tigers between 1960 and 1990. During the last thirty or so years, China has demonstrated average real growth in excess of 9 percent annually, with growth rates touching 13–14 percent in peak years.
2. Economic development indicators are used to measure the well-being of people by considering factors that influence the standard of living in an economy.
This is the most used index to measure economic development. It takes the following factors into consideration ;The measurement of economic development can be done through the human development index (the HDI) ;this is the most used index to measure economic development. It takes the following three factors into accountThe measurement of economic development can be done through the human development index (the HDI)Health. The HDI measures the average life expectancy in a specific country and compares it to the global average.(Education) The HDI measures the mean years of schooling and expected years of schooling in a country.(Standard of living) The HDI measures the gross national income (GNI) per head, using the principle of purchasing power parity, PPP.
The Genuine Progress Indicator builds off GDP as an economic indicator by including measures of the impact of economic growth on the environment as well as various social factors. The GPI takes GDP into consideration while also measuring the negative impacts of growth.
The Human Poverty Index complements the HDI as it is an indication of the standard of living in an economy. It considers the level of poverty and deprivation of a community in a country.
3. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Low Per Capita Real Income ;The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save
High Rate of poverty;The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Population Growth ;The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment ;unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on.
Technological Backwardness ;The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations.
Lower Productivity ;In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
4.It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement ,the link between gender and poverty, women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
China and India have emerged as important global powers creating political waves across Europe and the US. Not only are they becoming more assertive in transnational institutions like the World Trade Organization (WTO), their economic weight is felt throughout the world. As the Financial Times has pointed out, the rise of China and India “heralds a transformation of the global economic and political order as significant as that brought about revolution.
China and India have been among the fastest growing economies in the world. Since 1995, average income in China has increased almost tenfold, while in India it has nearly quadrupled. Despite very different political and economic systems, both countries have lifted millions from poverty, while income inequality and environmental degradation have worsened. Given the scale of these changes, the emergence of India and China has had profound implications for the rest of the world.
But China and India have pursued very different development paths. China’s economic model has focused on gearing its manufacturing industries toward exports for the rest of the world. India has also become increasingly integrated with the rest of the world, though under its model, domestic demand and services have played a more important role. As this process has played out, China has become the workshop of the world.
With the right policies, the importance of China and India to the global economy will only increase as they sustain their brisk growth and their populations become even more interconnected with the rest of the world. Both countries have come a long way since opening their economies a generation ago. From countries with very large but poor populations with minimal linkages to the rest of the world, China and India have become the world’s second- and third-largest economies in purchasing-power-parity terms. Their differing economic models demonstrate that there is no single way for countries to develop, and present varied challenges for sustaining their growth over the medium term.
This is not a comprador surrender to imperialism, but a developmental strategy promoted by the new political and economic elite of the transnational capitalist class. Within the political and historic context of China and India their aim is to enlarge the middle class, create jobs for the poor, develop a technologically advanced economy and increase their political power in the international arena. But does global capitalism have the social capacity, political will and environmental flexibility to move millions of working poor to decent living standards and higher income levels? Globalization is driven by the race to the bottom in which transnationals seek out the lowest wages and most exploitive conditions. Any reversal of this accumulation strategy is highly doubtful without a revolution from below and a radical shift in thinking and power.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and underdevelopment.
● Literacy: Literacy refers to the ability to read and write. The need for a higher level of literacy is something that is universally accepted. People want to have more opportunities in life by increasing the level of literacy through education. Rate of literacy (the percentage of population aged 7 years and above, which can read and write) is often used as one of the indicators of the state of development of a country.
● Life Expectancy: Life expectancy refers to the number of years newborn children would live. It is a universally accepted fact that people want to enjoy a longer life. Therefore, PQLI emphasizes that a country should have a higher life expectancy. Life expectancy can be increased through better medical facilities, better sanitation, and better nutrition. In the ultimate analysis higher life expectancy is the result of economic development.
● Access to Education: Universal access to education is the ability of all people to have equal opportunity in education, regardless of their social class, race, gender, sexuality, ethnic background or physical and mental disabilities.
● Infant Mortality: Infant mortality refers to deaths among children between birth and 1 year of age. The number of children who die before attaining the age of 1 year. Focuses that people want to lead a life with less illness and less death of infants.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
● Lower Levels of Human Capital: Human capital – education, health and skills – are of crucial importance for economic development. In our analysis of human development index (HDI) we noted that there is great disparity in human capital among the developing and developed countries. The developing countries lack in human capital that is responsible for low productivity of labour and capital in them.
● Excessive Dependence on Agriculture: A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
● Low level of living: This can also mean low standard of living. It is when the people live in poor environmental conditions, they lack the basic amenities and sometimes no choices of what to eat or wear.
● Low levels of productivity: This is a situation whereby the country produces less, which bring about low output, also,lack of infrastructure and inadequate knowledge.
● High and raising levels of unemployment and underemployment: Over dependency on government.
● Low Level of Capital Formation: The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
I agree,
Gender inequality is a major cause and effect of poverty. An estimated one in three women experience gender-based violence in their lifetime and women are statistically more likely to live in extreme poverty than men. It is simply not right that millions of women are disproportionately affected by poverty, discrimination and violence.
Although our human interconnectedness means that poverty affects everyone negatively, women and children stand at the centre of that injustice. Poverty, unless the imbalance is redressed, is handed down with each new generation inheriting the challenges and burdens of an unjust system. This Christmas, we can share the gift of hope and solidarity. Across the globe, brave mothers are battling against the odds to bring their children into the world, protecting and nurturing them
Ngene Francisca onyeka
2019/249518
1.A historic event, largely unnoticed by the rest of the world, took place on the border between China and India on July 6, 2006. After 44 years, the Asian neighbors reopened Nathu La, a mountain pass perched 14,140 feet up in the eastern Himalayas, connecting Tibet in China to Sikkim in India. Braving heavy wind and rain, several dignitaries—including China’s ambassador to India, the Tibet Autonomous Region’s chairperson, and Sikkim’s chief minister—watched as soldiers removed a barbed wire fence between the two nations.
Companies all over the world would do well to hear the winds of change roaring through Nathu La (which in Tibetan means “Listening Ears Pass”). The decision to reopen the world’s highest customs post marked the culmination of a slow but steady process of rapprochement between China and India. The friends turned foes in 1962, when they fought a short but bloody war. After that, the two nations’ armies glared at each other, weapons at the ready, until their governments decided to fight poverty rather than each other. In the past few years, China (under President Hu Jintao and Premier Wen Jiabao) and India (led by Prime Minister Manmohan Singh) have forged links anew. China now supports India’s bid for a permanent seat on the United Nations Security Council; their armies have held joint military exercises; and at World Trade Organization negotiations, the countries have adopted similar positions on international trade in agricultural products and intellectual property rights.
The two nations are also reviving their old cultural and religious ties. Beginning in 2012, they will allow tourists to use Nathu La, which will increase the number of cross-border pilgrimages. The pass makes it easy for China’s Buddhists to offer prayers at monasteries in Sikkim, such as Rumtek, and for India’s Hindus and Jains to visit sacred Mount Kailash and Manasarovar Lake in Tibet. The bonds between China and India run deep. Four out of five Chinese, from a broad cross-section of society, told me in an informal survey that Bollywood movies come immediately to mind when they think about India. That’s despite the fact that it has been more than a decade since Indian movies were the only foreign films shown in China. Ignoring these facts would be a mistake; several scholars, such as Baruch College’s Tansen Sen, have argued that religion and culture lubricate the wheels of commerce.
China and India are also rebuilding their business bridges. Although Nathu La’s reopening may be largely symbolic—the two countries allow the trade of only a few products, such as raw silk, horses, and tea, across the pass—it indicates a fresh camaraderie between the planet’s fastest-growing economies. Their desire to strike a partnership is evident: High-level official visits often take place between them; businesspeople from each country participate in conferences held in the other; and forecasts of the flow of goods and services between them keep rising. Sino–Indian trade stagnated at around $250 million a year in the 1990s, but it touched $13 billion in 2006, will cross the $20 billion mark in 2007, and may exceed $30 billion in 2008—a growth rate of more than 50% a year.
Yet most enterprises and experts gloss over this budding business axis. I hear the naysayers all the time. China and India can’t collaborate; they can only compete, say many Western (and not a few Chinese and Indian) academics and consultants. Both nations are vying to be Asia’s undisputed superpower, and they are suspicious about each other’s intentions. China and India have nuclear weapons; they have created the world’s biggest armies; and they are trying to dominate the seas in the region. China continues to support Pakistan, which India isn’t happy about, and India still lets in Tibetan refugees, which China resents. The United States, meanwhile, plays India against China. In addition, since most adult Chinese and Indians grew up seeing each other as aggressors, it’s tough for them to trust each other.
Moreover, the argument runs, China and India are business rivals at heart. The former’s remarkable economic rise threatens India, which trails its neighbor on almost every conventional socioeconomic indicator. China may be strong in manufacturing and infrastructure and India in services and information technology, but the latter’s manufacturing industry is becoming globally competitive, while China’s technology sector threatens to match India’s in a decade. Both have a growing appetite for natural resources such as oil, coal, and iron ore, for which they compete fiercely. They also fight for capital, especially for investments by multi-national companies from North America, Europe, and Japan. All this makes it difficult to believe that China and India can ever cooperate. Few people think to ask, “Can China and India work together?” Instead, a big question debated in boardrooms is whether India can catch up with China.
This perspective is incomplete. China is home to 1.3 billion people; India has a population of 1.1 billion. In the next decade, they will become the largest and third-largest economies in terms of purchasing power. By 2016 they will account for around 40% of world trade, compared with 15% in 2006. That’s roughly the position they occupied about 200 years ago. Economist Angus Maddison has calculated that in the 1800s, China and India together accounted for 50% of global trade. It is impossible to make predictions about the integration of these countries into the global economy, because past events, such as Germany’s reunification and the fall of the Iron Curtain, don’t compare. After those occurrences in 1990, a large number of people entered the global economy, but the numbers pale in significance when compared with the China–India double whammy. Like it or not, the world’s future is tied to China and India.
India + China
India Area 3,287,590 sq km …
Both countries have put feeding their millions ahead of border disputes, and they can’t turn the clock back on liberalization. They have too much to lose by not working together. This doesn’t suggest that a lovefest will ensue; it only implies less hostility and suspicion between two fast-maturing nations.
China and India have taken different routes to enter the world economy, and that has resulted in their gaining complementary strengths. Some business leaders have learned to make use of both countries’ resources and capabilities, as I shall show in the following pages. In the process, they have become globally competitive. Multinational companies will only lose if they don’t take advantage of the complementarities between the two economies. If they embrace both countries, however, they can tap into diverse strengths almost as easily as Chinese and Indian companies will.
Fathoming the Depth of Their Relationship
The tensions between China and India are real, but they will eventually prove to be aberrant. There are three good reasons for believing that: one historic, one economic, and one strategic.
First, China and India sealed their borders in modern times, but in the 2,000 years preceding the conflict of 1962, the two countries enjoyed strong economic, religious, and cultural ties. By the second century bc, the southern branch of the Silk Road—an interconnected series of ancient trade routes on land and sea—linked the cities of Xi’an in China and Pataliputra in India. Trade on the Tea and Horse Road, as the Chinese called it, was a significant factor in the growth of the Chinese and Indian civilizations. Seen in that light, the closing of the Sino–Indian border—not the border’s reopening—is the anomaly.
In fact, Buddhism traveled from India to China in 67 ad along the Silk Road. In those days, the relationship between China and India was one of mutual respect and admiration. The monk Fa-hsien (337 to 422 ad), who traveled from China to India to study Buddhism, referred to the latter as Madhyadesa (Sanskrit for “Middle Kingdom”), which is similar in meaning to Zhongguo, the word the Chinese used to describe China. In the 1930s, no less a scholar than Beijing University’s Hu Shih said that the sixth century ad marked the “Indianization of China.” Even today, visits by Chinese and Indian leaders include a trip to a Buddhist shrine in the host nation.
There was also much goodwill after the birth of the two modern states, India in 1947 and China in 1949. During the 1930s, India’s future prime minister Jawaharlal Nehru frequently wrote about how India supported the struggles of fellow Asians under the foreign yoke. He organized marches in India in support of China’s freedom, organized a boycott of Japanese goods, and in 1937 sent a medical mission to help the Chinese. India was the second non-Communist country, after Burma, to recognize the People’s Republic of China, in 1950. Five years later, India supported the idea that China should attend the Bandung Conference, in Indonesia, which led to the creation of the Non-Aligned Movement, an alliance of developing countries that supported neither the United States nor the Soviet Union. In those heady years, one slogan heard in India was Hindi Chini Bhai Bhai (“Indians and Chinese are Brothers”). The slogan hasn’t been forgotten; China’s premier, Wen Jiabao, repeated it in 2006 when he visited the Indian Institute of Technology in Delhi.
Second, economists tell us that neighbors tend to trade more than other nations do. An official committee set up to encourage commerce between China and India recently suggested that bilateral trade could touch $50 billion by 2010. Even the official numbers understate the potential, according to economists who use gravity models to estimate what the trade between two countries should be. Such models calculate potential bilateral trade as a function of the size of the nations, the physical distance between them, and other factors such as whether they share a language, a colonial past, a border, membership of a free-trade zone, and so on. Sino–Indian trade today is up to 40% less than it could be, according to those models. Moreover, Sino–Indian trade is more balanced than China’s trade with the United States and Europe; the latter countries’ large deficits cause political friction.
Third, China and India, after they cut themselves off from each other, evolved in complementary ways that reduced the competitiveness between them. What China is good at, India is not—and vice versa. China instituted sweeping economic reforms in 1978 and has steadily opened up thereafter. A balance-of-payments crisis forced India’s reforms in 1991, but because of political factors, liberalization has been slow and piecemeal there ever since. China uses top-down authority to channel entrepreneurship; in fact, the government is the entrepreneur in many cases. India revels in a private sector–led frenzy, and its government is incapable of efficiency. China struggles to control fixed asset investment, while India is constrained by scarce capital. China welcomes foreigners, shunning only those who are not part of its power structure. India shuns foreigners and mollycoddles its own. China’s capital markets are nonexistent; India’s are among the best in the emerging markets. And so on. There are no two countries more yin and yang than China and India.
How China and India Have Developed Differently
China and India are large, populous …
As a result, the kinds of companies that flourish in China and India are very different. As my HBS colleague Krishna Palepu and I argued in an earlier HBR article (“Emerging Giants: Building World-Class Companies in Developing Countries,” October 2006), companies are usually reflections of the institutional contexts in their home countries. In China, where protection of intellectual property rights is nascent and the government curtails some forms of expression, entrepreneurs don’t push the creative envelope. Instead, it makes sense for them to build manufacturing plants that leverage the superb infrastructure. In India, companies that depend on highway systems and reliable power find it hard to thrive. Those that train and deploy tens of thousands of technically sophisticated, English-speaking university graduates, in contrast, flourish. Both China and India are witnessing an explosion of entrepreneurship, but in ways that make their companies more complementary than the world realizes.
Getting the Best of Both Worlds
These complementarities pose both an opportunity and a threat. It’s easy to spot the advantages of treating China and India synergistically and getting the best of both worlds. Companies can use China to make almost anything cheaply. They can turn to India to design and develop products cost-effectively; they can also hire Indian talent to market and service products. For instance, China’s Lenovo, which purchased IBM’s PC business in 2005, recently moved its global ad-management function from Shanghai to Bangalore. That’s because India has a highly creative and sophisticated advertising industry.
To be sure, Chinese and Indian companies will compete intensely with each other. That doesn’t mean that the rise of one will necessarily be at the expense of the other. For instance, as the Chinese government tries to develop a software industry, Indian companies such as Infosys, Tata Consultancy Services, and Satyam have been among the first to recruit Chinese engineers. Does that mean they are sowing the seeds of their own destruction? Not really. Most Indian companies have gone into China to provide software services to their multinational clients. Chinese firms will try to compete for those contracts, even as Indian companies fight for a share of the local Chinese market. China will gain from having a software industry, but the benefits may not come at the expense of India’s software industry.
The coming together of China and India puts at a disadvantage many companies, especially from the West, that refuse to react to this trend. They will not be able to generate the synergies that their Chinese and Indian rivals can. If they lose share in those two markets, they are—given China’s and India’s size—unlikely to remain market leaders for very long. Thus, Sino–Indian emerging giants pose a stiffer threat to multinational incumbents than the latter have so far assumed.
Cooperating with Each Other
Already, some Chinese and Indian companies are beginning to view the two countries symbiotically. They are driven not by political factors but by hardheaded self-interest.
India comes to China.
Three years ago, Mahindra & Mahindra, the Indian tractor and automobile maker, reckoned that it would be cheaper to manufacture tractors in China than in India. Besides, the Indian company could gain access to the fast-growing Chinese market only by producing tractors locally. M&M set up a joint venture, Mahindra (China) Tractor, with the Nanchang city government. The partners could not be more different: M&M is a private company led by the third-generation scion of an Indian business family—a far cry from the Chinese government. The Sino–Indian entity purchased Jiangling Tractor, whose plant is located halfway between Shanghai and Guangzhou and has a production capacity of 8,000 tractors per annum.
M&M’s low-powered tractors are ideal to till India’s fragmented farmland. In 2006 the company held a 30% share of the Indian market, while its closest rival had a 23% share. These tractors also suit China, where the size of the average landholding is now akin to India’s. When China’s communes broke up and the number of farmers mushroomed, the demand for tractors boomed. The Chinese government also offered financial incentives so farmers would switch from power tillers to tractors, which would reduce the demand for petrol. M&M entered the Chinese market with Jiangling Tractor’s FengShou brand. The company has cleverly designed and engineered the model at its facilities in India, while its Chinese company manufactures it.
Mahindra (China) Tractor makes the compact FengShou tractors in the 18-to-35 horsepower (hp) range for the Chinese and foreign markets. It also imports M&M’s more powerful 45 hp to 70 hp tractors from India and sells them in China. In February 2005, when I spoke to Anand Mahindra, M&M’s CEO, he had nothing but praise for the Chinese company. “We are breaking the myth that it is hard to make money in China or that cultural assimilation is difficult,” he told me. “The local disco in Nanchang now plays bhangra (a genre of Indian folk music), and the ex-chairman of the Chinese company sang songs from Indian movies at our first banquet.” Mahindra said that he had faced no problems in getting Chinese and Indian executives to work together. M&M has posted 15 Indians to the Chinese facility, all of whom report to Chinese supervisors. According to Mahindra, the Indians are none the worse for the experience.
That’s not all. M&M realized that it could enter some niche markets in the United States. Many baby boomers have retired from stressful urban lives to places like Flagstaff, Arizona, where for the price of a San Francisco apartment they have bought several acres of land. These hobby farmers need only a small tractor to till the soil. From 2000 to 2005, M&M wrested a 6% share of the U.S. under-70 hp tractor market from companies such as John Deere, New Holland, Agco, and Kubota Tractor. In some southern states such as Texas, M&M’s market share is as high as 20%. M&M is giving John Deere in particular a run for its money. In 2004 a Deere dealer advertisement promised a $1,500 rebate to every consumer who traded an M&M for a John Deere. According to M&M executives, when they tracked down tractor owners who had seen the ad, 97% said that they were satisfied with their Made in China and India tractors and did not go for the rebate.
China comes to India.
Just as Mahindra & Mahindra is using China’s hard infrastructure, China’s Huawei is leveraging India’s soft infrastructure to sustain its global edge against Western giants like Cisco. In 1999 the Chinese telecommunications equipment manufacturer set up an Indian company that currently employs around 1,500 engineers. This facility, which is based in Bangalore, develops software solutions in areas such as data communications, network management, operations support systems, and intelligent networks. In 2006 the company opened a second facility in Bangalore, where 180 software engineers develop optical network products and wireless local-area-network solutions.
Huawei has announced that it will invest an additional $100 million to create a single 25-acre campus in Bangalore for 2,000 people. This will enable Huawei India to enter new areas such as optical-transmission networking and sharpen its focus on third-generation networking. While Huawei’s development center in Shenzhen is its most important facility, the Bangalore center (which accounts for about 7% of the company’s R&D efforts) is emerging as the second most important. That’s partly because of its capabilities. In August 2003, the Indian facility earned the coveted Capability Maturity Model Level 5 certification—the highest quality level for software producers.
Huawei’s strategy is noteworthy because India’s bureaucracy and polity did everything it could to prevent the company from setting up base. The company persisted, realizing that employing engineers, rather than outsourcing software development to Indian companies, would give it better footing. Jack Lu, who oversees human resources, headed the Bangalore office for three years after setting it up. He says that the main challenge is to overcome each country’s stereotypes of the other. For instance, the Indian media portray the Chinese as opportunists set on stealing India’s security, software, and telecommunication secrets, and vice versa.
State-owned companies cooperate.
Public-sector corporations, the direct arms of two supposedly hostile governments, are also learning to work together. China and India are incredibly energy-deficient, with China importing almost 50% of its oil needs and India more than 70%. Energy companies in both nations have made it a priority to search for “equity” oil. They invest in several countries’ petroleum industries to protect themselves against the possibility that one day, political instability in the Middle East will choke off their supplies. This strategy turned China and India into intense rivals in the international energy industry. Between January and October 2005, China’s Sinopec and China National Petroleum Corporation (CNPC) and India’s Oil and Natural Gas Corporation (ONGC) clashed over purchases of oil assets in Angola, Ecuador, Kazakhstan, Myanmar, Nigeria, and Russia. Although the Chinese companies won several contracts, they paid more because of the Indian company’s aggressive bidding.
In April 2005, Wen Jiabao suggested that China and India think about cooperating in the energy sector. After several meetings of executives from the countries’ oil companies, the Chinese and Indian governments signed an agreement in January 2006 about working together on bids for energy resources, and the oil companies signed memorandums of understanding. Incidentally, China teamed up with India partly because it hoped that its companies would get preferential treatment when they bid for infrastructure-related contracts in India.
The Sino–Indian oil hunt has delivered results. In December 2005, CNPC and ONGC won a bid for a 37% stake in Syria’s Al Furat Petroleum. Another joint venture between Sinopec and ONGC won a 50% stake in the Colombian oil company Omimex de Colombia in August 2006. In April 2007, ONGC and CNPC agreed to team up to acquire oil assets in Angola and Venezuela. They may also offer each other stakes in other companies they have invested in. Thus, enterprises that everyone thought would bid up the prices of oil assets dramatically are working together in the best interests of China and India.
Viewing the Two as One
It’s not surprising that multinational companies find it tough to develop a joint strategy for China and India. Three years ago, I studied the Chinese and Indian subsidiaries of 20 Asian companies such as Japan’s Asahi Glass, Hitachi, Honda, Mitsui, and Toshiba; South Korea’s Samsung, Hyundai, and LG Electronics; and Singapore’s DBS Bank and Singapore Telecommunications. Many had operations in both countries, although I included some enterprises that operated in only one of them.
These companies have customized their business models to the local institutional context, which makes it tough for them to generate synergies from their subsidiaries in the two countries. For instance, the Chinese subsidiaries are less transparent than the Indian ones because capital allocation does not occur through the financial markets in the former as it does in the latter. The opacity has made it harder for Indian subsidiaries to collaborate with their Chinese counterparts. The Indian ventures also depend on local suppliers more than the Chinese ones do, since they have operated for 39 years, on average, in India and only 18 years in China, having been forced out of the country in the aftermath of the Cultural Revolution. However, even in corporations that have entered both countries in the past five years, the reliance on local suppliers is 60% in India and 10% in China. Thus, the Chinese and Indian subsidiaries use different business models and generate few synergies. Moreover, 31 of the 33 Chinese subsidiaries I studied viewed themselves as independent of their Indian counterparts, which precluded the chances of cooperation. Relatively few China and India country managers report through their hierarchies to a common decision maker, and companies reward them on the basis of their performance in each country. These organizational factors make it almost impossible for companies to identify opportunities in both China and India that would benefit their strategies.
A final barrier to developing a China–India strategy arises from success. For instance, at Motorola, one of the most successful investors in China, it’s easy to imagine a hotline snaking from the China headquarters to Schaumburg, Illinois. Because Motorola has not focused on India nearly as long, that market is starved for attention. The converse is true of Unilever. The company’s success in India means that the Indian subsidiary has a direct line to London and Rotterdam, while the China operation doesn’t enjoy the same privileges. China shines in Motorola’s world; India sparkles in Unilever’s. The companies have neglected one of the two markets—and both have achieved less than they could have.
Succeeding from the Outside
It may be difficult for multinational companies to make the best use of China and India, but it isn’t impossible. In fact, as GE and Microsoft show, you can skin the proverbial cat in many ways.
GE’s approach.
The simplest, and most powerful, way of combining China and India is to focus on hardware in China and on software in India. As is now well known, that’s exactly what GE Healthcare does. For instance, it developed the 719 parts of a high-end Proteus radiology system in a dozen countries. It created the software algorithms and the scanner’s generator in Bangalore and allocated part of the hardware manufacturing and assembly to Beijing. The ability to set up parallel groups of highly skilled engineering talent in both countries raises the efficiency of product development and fits in with GE’s competitive culture, a senior executive told me.
It’s tempting to attribute GE’s success to a well-run country manager system. But most companies have similar matrix structures, so that is not the full story. GE did well in China and India because it tailored its business model to the realities of each market. Its early forays into China and India didn’t work: GE’s business units were unable to profitably sell or develop products locally. Nor could they produce the equipment in other countries at a low enough cost to cater to the low-income populations in the two markets. Experimentation led GE to develop in China and in India parts of what it needed. That process also allowed the company to find ways in which the two subsidiaries could work together. Chinese managers in GE felt that it was in their interest to collaborate with their Indian counterparts, and vice versa. This process took the better part of two decades to come to fruition.
GE also succeeded because it became a good corporate citizen in both countries. Its aircraft engines business has transferred several technologies to China, and its medical diagnostics business is engaged in the debate about health care there. In India, GE was one of the pioneers of business process outsourcing, the practice that put the country on the world’s business map. In a vote of confidence in both countries, GE has opened cutting-edge R&D centers in Shanghai and Bangalore. In both China and India, several companies owe their existence to GE. Some were set up by former GE executives; others became world-class by supplying raw materials or components to GE.
Microsoft’s approach.
While GE has split the value chain between China and India, Microsoft takes a different tack. It develops innovations that are best suited to China and India respectively.
For example, the company decided to develop mobile-phone-based computing in China, since the country had more than 450 million cellular telephones in 2006 and only 120 million PCs. India had a smaller base of only 166 million mobile phones in 2006. Microsoft created a mobile phone that doubles as a computer when the user attaches it to a device mounted on the side of a TV. You can access the device, FonePlus, with a keyboard, and use the TV screen as a PC monitor. If this experiment succeeds in China, Microsoft will find ways of using FonePlus globally.
In India, Microsoft conducted experiments that would have been much harder to pull off in China. In 2004 the company launched the Windows XP Starter Edition at $25–$30 apiece in India, compared with the pricey full-functionality product. Microsoft decided not to launch the Starter Edition in China, where the top four PC manufacturers control close to two-thirds of the market. The local companies were reluctant to push a low-priced product, since they earn more from the higher-priced version. Because Indian consumers didn’t buy the full-functionality Windows, the risks of offering the Starter Edition there were lower than in China. Microsoft’s trials in India suggest that the Starter Edition either targets first-time users or induces nonadopters to try out the full-functionality product, so Microsoft China might be willing to market it in the future.
At the same time, Microsoft’s China subsidiary is trying to leverage India by forming a three-way venture with the Chinese government and India’s largest software company, Tata Consultancy Services (TCS). After entering China in 2002 by setting up a fully owned enterprise in the Hangzhou Special Economic Zone, TCS received the go-ahead in 2007 to expand its presence there. The National Development and Reform Commission authorized the technology parks in Shenzhen and Beijing to buy into TCS’s Chinese operations. Incidentally, TCS has gone through three phases in China: It entered China because its global clients were setting up shop there; it then used the country as a base to cater to Asian companies; and, finally, TCS is now going after the Chinese market.
Meanwhile, Microsoft is trying to help the Chinese government build a globally competitive software industry. In keeping with that strategy, Microsoft plans to buy a stake in TCS China, creating an entity that will be 65% owned by TCS, 25% owned by the Chinese software parks, and 10% owned by Microsoft. The Chinese government likes this idea because Microsoft’s technologies will spread along with those of TCS. The new venture will develop banking applications for the Beijing and Tianjin city governments. TCS will develop the applications, and Microsoft will use its 17 centers across China to roll them out to the banks. The largest banking applications project TCS has so far undertaken is at the State Bank of India, which has 10,000 branches and 100 million accounts, compared with Bank of China’s 22,000 branches and 360 million accounts. That’s one more reason China and India are often relevant to each other; no other country has such sprawling networks. It’s likely that TCS and Microsoft will one day apply in India the experience they gain in China.
The idea that these countries’ ascent can occur only at everyone else’s expense defies economic logic.
To ensure that China and India don’t lack attention, Microsoft has elevated the two country heads to the rank of corporate vice president. They report directly to the person who oversees Microsoft’s international operations. They meet frequently to learn from each other. Since there are laboratories and development centers in Beijing and Hyderabad, the heads of R&D in China and India both report to the head of Microsoft’s worldwide R&D. The company has also extended the scope of its Redmond, Washington–based Unlimited Potential division, which seeks to bring computer skills and jobs to communities that don’t already have them. The division looks at how products that Chinese consumers are using can be sold in India and vice versa, and looks at products that can be sold in other emerging markets worldwide.• • •
It is strange that many people perceive the rise of China and India only as a threat. The idea that these countries’ ascent is a zero-sum game—it can occur only at everyone else’s expense—defies economic logic. For instance, the United States’ job losses in recent times as companies relocated manufacturing facilities and services to China and India are smaller than the unemployment in past decades attributable to structural changes in the U.S. economy. Instead of balking at the inevitable expansion of economic power beyond New York and London, companies will do well to recognize the complementarities between Beijing and New Delhi and, in a fast-changing world, try to wrest competitive advantage.
2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.
The criteria by UN takes into consideration of development indicators like Human development Index(HDI),and Human poverty Index (HPI). According to UN,Countries with high HDI are developed while countries with low HDI are less developed. Also,countries with low HPI are developed,while countries with high HPI are less developed.
3.The countries in which the process of development has started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Here we will discuss the different characteristics of developing countries of the world.
Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
The common characteristics of developing nations are:
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
4. Women suffers most in a poor society.
Girls, more than boys, will suffer in areas such as education and infant mortality
– The plight of women must be incorporated in any economic development strategy
WASHINGTON, May 15, 2009 – The global economic crisis will drastically reduce African women’s individual incomes as well as the budgets they manage on behalf of their households, with particularly damaging consequences for girls, said Obiageli Ezekwesili, World Bank Vice President for the Africa Region, at a recent conference on the impact of the global economic crisis on women in Africa.
“Poverty has a female face and the global economic downturn will have a significant impact on women as more of them lose jobs and are forced to manage shrinking household incomes,” Ezekwesili said May 8 at the “Women and the Changing Global Outlook” conference organized by the British Embassy in Washington, and the National Geographic Society.
“The face of poverty is female,” she said, sketching the portrait of the typical poor African youth.
“She is 18.5 years old. She lives in a rural area. She has dropped out of school. She is single, but is about to be married or be given in marriage to a man approximately twice her age. She will be the mother of six or seven kids in another 20 years,” said Ezekwesili, citing the findings of the latest edition of the annual World Bank publication, Africa Development Indicators (ADI).
The Global Crisis and its Impact on Women and Girls
The global economic crisis, Ezekwesili explained, is likely to hit African women on two fronts. First, it will arrest capital accumulation by women, and second, it will drastically reduce women’s individual incomes as well as the budgets they manage on behalf of households. This would have damaging consequences notably on the girl child.
With the education of boys largely sheltered from shocks and parents often more likely to pull out a girl from school than a boy when tuition becomes hard to find, the World Bank Vice President cited research findings on household income declines in Uganda and a fall in income from agriculture in Madagascar where girls were first to be pulled out of schools.
The World Bank has warned that an additional 700,000 African infants are likely to die before their first birthday as a result of the crisis. The girl child will be hit hardest. Research has shown that “girls are five times more likely to be impacted by increases in infant mortality rate than boys.”
Unlike in rich countries such as the United States, where more men have tended to lose their jobs compared to women, the crisis in Africa is leaving women with ever fewer job choices. In many export-oriented industries – for example, the cut-flower industry in Ethiopia, Kenya and Uganda and the textile industry in Kenya and Lesotho – it is women, not men, across Africa who are bleeding jobs because of the crisis.
Declining remittances and a tightening of micro-finance lending would further restrict the funds available to women to run their households.
Gender-focused Development Initiatives
Conference participants reached consensus that development and poverty alleviation strategies that fail to target girls and women have little to no chance of success in Africa.
Ms. Ezekwesili drew attention to the Gender Entrepreneurship Markets (GEM) initiative launched by the Bank’s private sector arm, the International Finance Corporation (IFC), to enhance women’s access to finance and address gender barriers to the business environment. The $50 million GEM has benefited over 1,500 women in 18 sub-Saharan African countries and will be enhanced by a recent $120 million loan program that the IFC signed with EcoBank to benefit businesswomen in five countries.
In addition, the Bank has adopted a Gender Action Plan and launched an $11 million, three-year Adolescent Girls Initiative to train, mentor, empower and facilitate the transition of young African women to work in Liberia, Southern Sudan and Rwanda. In addition, 83 Bank-funded projects totaling $4.4 billion have female economic empowerment components; the majority of them (33) in agriculture, education (34), infrastructure (11) and private sector development (5).
Other speakers at the conference struck similar chords.
Speaking on behalf of the British ambassador to Washington, Sir Nigel Sheinwald, the deputy head of mission, Dominick Chilcott, stressed the link between women’s empowerment and development. The road to sustainable development, he said, is only attainable if it is built on a gender inclusive agenda.
“We must take the opportunities presented by the crisis to innovate and invest in women, whether it is proposals to introduce better social programs, finding ways of integrating women into the labor force, or reducing discrimination in financial markets,” he said, citing remarks by Sheinwald.
In a video message, Ms. Sarah Brown, the spouse of British Prime Minister Gordon Brown, spoke of the need for world leaders to tackle “the many injustices that remain” against women.
Ambassador Melanne Verveer, U.S. President Barack Obama’s Ambassador-at-Large for Global Women’s Issues at the State Department, urged development agencies to “think women”.
“You cannot beat poverty without putting women at the center of your development strategies,” she said.
“Women’s equality is not just the right thing to do, it is also smart economics,” she added, paraphrasing the World Bank. She pointed out that women were key to food security and agriculture; essential players in the promotion of the rights of the child; major actors in health care provision; yet continued to suffer discrimination in powerful board rooms; and on higher rungs of corporate ladders.
Women at the Helm
Women’s entrepreneurship training constitutes one of the keys for unlocking the creative genius of African women, said Ms. Remi Duyile, a program manager at Gender Entrepreneurship Markets, appealing to women to pursue that path despite the many difficulties and limited access to credit. “Success,” she said, “is a journey. It must never be a destination”.
Ms. Regina Amadi, a retired assistant director general for the International Labor Organization, urged world leaders to attend to what she called “the social dimensions of globalization” and for women around the world to return to what she termed “old time mobilization”: in order to ensure that this decade becomes “an ‘uhuru’ (rallying) moment for gender equality”.
Suggesting that the limited involvement of women in managing global financial issues was one of the reasons for the current global crisis, Baroness Amos, the former leader of the British House of Lords, cited an unnamed source as saying the world might have avoided the current crisis with more women at the helm of financial affairs.
According to Amos: “Someone said the crisis might have been avoided had Lehman Brothers (the last major bank to collapse before stock markets worldwide tanked) had only been Lehwoman Sisters”.
Name: Ogbonna Chijioke Michael
Reg. No.: 2019/244473
Department: Economics
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
The Bandung conference of 1955 led to the emergence of the third world. India played a major role in raising the voice of newly independent countries. As a result of independence movement, the United Nations, was gradually transformed into a third world forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and Sri Lanka discussed peace, role of the Third World, economic development, and decolonization process.
The Bandung Conference was based on the principles of political self-determination, mutual respect for sovereignty, non-aggression, non-interference in internal affairs, and equality. Conference paved way for the emergence of third world free from evils of capitalism and communism. Thus, the concept of the ‗Third World‘ was born. Communist China was one of the countries participating as the Third World Country. Indian prime minister Nehru blended democratic politics and state planning to promote India‘s quest for political independence and economic autonomy.
The two key Asian Driver economies which are China and India, reflect very different growth paths. China is integrated into an outward-oriented regional economy, involving fine divisions of labour in many sectors. By contrast (at least until now) India represents much more of a “standalone” economic system. Yet, notwithstanding these differences in structure, they pose major and distinct challenges for the global and developing economies.
China (especially) and India embody markedly different combinations of state and capitalist development compared with the industrialised world. Chinese enterprises have their roots in state ownership, usually arising from very large and often regionally-based firm. They reflect a complex and dynamic amalgam of property rights. “The ownership of each of China’s large SOEs [state owned enterprises] has spread gradually among a variety of public institutions, each of which has an interest in the firm’s performancebased on the “ownership maze” and vaguely defined property rights”. With access to cheap (and often subsidised) long-term capital, these firms operate with distinctive time-horizons and are less risk-averse than their western counter parts. Indian firms are probably less distinct from the western model, although they tend to be less specialised and often include elements of social commitment which are largely alien to western firms. Associated with these complex forms of ownership and links to regional and central state bodies, Chinese firms often operate abroad as a component of a broader strategic thrust. This is particularly prominent in China’s advance in Sub-Saharan Africa (SSA) in its search for the energy and commodities required to fuel its industrial advance.
Also, China and India are now heavily engaged in global institutions, but whereas India has long been a participant, China’s global presence is morerecent. Whilst the nature of their political engagements with the rest of the world differs sharply, they increasingly affect global and regional governance. India plays a major role as an “advocate” of the interests of the developing countries, for example as the leader of G22 within the WTO. China is pushing the Shanghai Cooperation Organisation (formed by China, Russia, Kazakstan, Kirgistan, Tadjikistan and Uzbekistan) as a significant player in the area of global energy policies. China and India also provide a different policy role-model for many developing economies, with the possible rise of a “Beijing Consensus” to rival the Washington Consensus. These dynamics represent a transition from a quasiunilateral US-dominated world order to a multipolar power constellation. This could lead to new turbulences and conflicts between the rising and the declining powers within the global governance system.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
1. Poverty and Inequality: Indicators that measure the incidence and depth of poverty according to national and international definitions, as well the economic inequalities in income and wealth that exist both within and across countries and regions.
2. People: Indicators on a range of topics that together build a portrait of societal progress across the world. They cover education, health, nutrition, mortality, and, jobs and unemployment, social protection, demographics, migration, and gender.
3. Environment: Indicators on the use of natural resources, such as water and energy, and various measures of environmental degradation, including pollution, deforestation, and loss of habitat. Together these indicators help assess the extent of climate change and the human impact on the planet.
4. Economy: Indicators for national accounts, including GDP, GNI, value added, and capital formation, as well as balance of payments, finance, consumption, and adjusted net savings among others, help us to measure the structure and growth of the world’s economies.
5. States and Markets: Indicators on private investment, the public sector, financial systems, communication and transport infrastructure, science and technology, provide a picture of different business climates around the world, the functioning of governments, and the spread of new technologies.
6. Global Links: Indicators on the size and direction of economic flows and linkages, such as trade, remittances, equity, and debt, as well as tourism and migration, provide an overview of the processes, structures, and partnerships that allow economies to flourish.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
1.) Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
2.) Widespread Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
3. High rate of Population Growth: Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
4. High and rising level of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
5. Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
6. Technological Backwardness: The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
7. Dualistic Economy: Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
8. Lack of Infrastructures: Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
9. Low level of Productivity: In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
10. High Consumption and Low Saving: In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Yes i agree with the term that Poverty has a woman’s face and we have seen this in many of our communities. Both men and women have the responsibility to look after the family and ensure that the children receive proper education, food, shelter etc. However, women are often on the the forefront were there is poverty. The father is portrayed as a strong and fierce figure who you cannot approach unless it is something very serious.
In many African communities, the responsibility of taking care of the household and caring and nurturing the children, the elderly and the sick falls on the women of the family. As a result, when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide. I think this social construction is what has put the burden on the women. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equally looking. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
Furthermore, Poverty has a woman’s face in the sense that Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
The risks of increasing poverty grow in parallel with the number of women-headed households. Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
It is no surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.
Unsurprisingly, few poor women have hope of escaping this poverty as there are so many odds stacked against them. Despite laws that favour them, even richer women are regularly denied land inheritance by emotional coercion, forced marriage and even by ‘marriage’ to the Quran.
If women are to progress and participate effectively in the economy, they must receive equal education, equal training, in rural and urban sectors and equal dignity and income.
2. Other criteria created by the world Bank for measuring development and underdevelopment are:
(A). Population Growth.
(B). Occupational Structure of the Labor Force.
(C). Consumption per capita.
(D). GNP per capita.
(E). Level of Infrastructure.
(F). Level of urbanization
(G). Social Conditions.
(F). literacy rate.
(G). life expectancy.
(H). Health care availability.
(I). Infant mortality.
3. (a). Low levels of productivity: This is a situation whereby a developing country is unable to produce enough goods and services for its citizens. This can be as a result of laziness among workers, negative attitude to work probably as result of low salary payment and no incentive to work. Low levels of productivity at a workplace can also affect the employee’s morale, hinder efficiency, and affect their profit margins.
(b). Low levels of living: This is a situation whereby citizens of a developing country are not able to afford a level of standard of living. They live in poor environment because they’re not able to afford a better one.
(c). High rate of population growth and dependency burdens: A developing nation often has the characteristics of high population growth because in most of this countries there are less to no educational enlightenment concerning family planning and child bearing. So in the absence of this educational enlightenment the citizens of this countries tend to have too many children and as a result become dependent on other people because they’re not able to feed all the children.
(d). Traditional rural social structure: A developing nation is often characterized as traditional and rural. You cannot tell the difference between a town and a village because they all look the same. There is no industrial development in such countries and so they’re limited to the village life and village methods of living.
(e). Widespread poverty: A developing nation is often characterized with poverty. Since there are no industrial development and high population, the citizens are not able to get a well paying job and so they live in poverty.
(f). Substantial dependence on agricultural products and primary product export: Because there are no other methods of living in a developing nation, citizens depend on farming. Everything they eat are been cultivated and only little are been exported.
4. Yes I do agree. Poverty has a woman’s face. Why?
Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities.
Nnaji Lovelyn Chinwe. 2019/247502
URAMA HAPPINESS CHIDERA
2019/242283
Economics education.
1. Understanding Capitalist vs. Socialist Economies
In the United States, capitalism has always been the prevailing system. It is defined as an economic system in which private individuals or businesses, rather than the government, own and control the factors of production: entrepreneurship, capital goods, natural resources, and labor. Capitalism’s success is dependent on a free-market economy, driven by supply and demand.
With socialism, all legal production and distribution decisions are made by the government, with individuals dependent on the state for food, employment, healthcare, and everything else. The government, rather than the free market, determines the amount of output (or supply) and the pricing levels of these goods and services.
Communist countries, such as China, North Korea, and Cuba, tend toward socialism, while Western European countries favor capitalist economies and try to chart a middle course. But even at their extremes, both systems have their pros and cons.
Capitalism
In capitalist economies, governments play a minimal role in deciding what to produce, how much to produce, and when to produce it, leaving the cost of goods and services to market forces. When entrepreneurs spot openings in the marketplace, they rush in to fill the vacuum.
Capitalism is based around a free-market economy, meaning an economy that distributes goods and services according to the laws of supply and demand. The law of demand says that increased demand for a product means an increase in prices for that product. Signs of higher demand typically lead to increased production. The greater supply helps level prices out to the point that only the strongest competitors remain. Competitors try to earn the most profit by selling their goods for as much as they can while keeping costs low.
Also part of capitalism is the free operation of the capital markets. Supply and demand determine the fair prices for stocks, bonds, derivatives, currencies, and commodities.
In his seminal work, An Inquiry Into the Nature and Causes of the Wealth of Nations, economist Adam Smith described the ways in which people are motivated to act in their own self-interest.
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This tendency serves as the basis for capitalism, with the invisible hand of the market serving as the balance between competing tendencies. Because markets distribute the factors of production in accord with supply and demand, the government can limit itself to enacting and enforcing rules of fair play.
What is Socialism?
Socialism and Centralized Planning
In socialist economies, important economic decisions are not left to the markets or decided by self-interested individuals. Instead, the government—which owns or controls much of the economy’s resources—decides the whats, whens, and hows of production. This approach is also referred to as central planning.
Advocates of socialism argue that the shared ownership of resources and the impact of central planning allow for a more equal distribution of goods and services and a fairer society.
Both communism and socialism refer to left-wing schools of economic thought that oppose capitalism. However, socialism was around several decades before the release of The Communist Manifesto, an influential 1848 pamphlet by Karl Marx and Friedrich Engels.
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Socialism is more permissive than pure communism, which makes no allowances for private property.
Key Differences
In capitalist economies, people have strong incentives to work hard, increase efficiency, and produce superior products. By rewarding ingenuity and innovation, the market maximizes economic growth and individual prosperity while providing a variety of goods and services for consumers. By encouraging the production of desirable goods and services and discouraging the production of unwanted or unnecessary ones, the marketplace self-regulates, leaving less room for government interference and mismanagement.
But under capitalism, because market mechanisms are mechanical, rather than normative, and agnostic in regard to social effects, there are no guarantees that each person’s basic needs will be met. Markets also create cycles of boom and bust and, in an imperfect world, allow for “crony capitalism,” monopolies, and other means of cheating or manipulating the system.
In socialist societies, basic needs are met; a socialist system’s primary benefit is that the people living under it are given a social safety net.
In theory, economic inequity is reduced, along with economic insecurity. Basic necessities are provided. The government itself can produce the goods people require to meet their needs, even if the production of those goods does not result in a profit. Under socialism, there’s more room for value judgments, with less attention paid to calculations involving profit and nothing but profit.
Socialist economies can also be more efficient in the sense that there’s less of a need to sell goods to consumers who might not need them, resulting in less money spent on product promotion and marketing efforts.
Special Considerations
Socialism sounds more compassionate, but it does have its shortcomings. One disadvantage is that people have less to strive for and feel less connected to the fruits of their efforts. With their basic needs already provided for, they have fewer incentives to innovate and increase efficiency. As a result, the engines of economic growth are weaker.
Another strike against socialism? Government planners and planning mechanisms are not infallible, or incorruptible. In some socialist economies, there are shortfalls of even the most essential goods. Because there’s no free market to ease adjustments, the system may not regulate itself as quickly, or as well.
Equality is another concern. In theory, everyone is equal under socialism. In practice, hierarchies do emerge and party officials and well-connected individuals find themselves in better positions to receive favored goods.
Birth and death rates
Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.
The Human Development Index (HDI)
The HDI is a composite statistic calculated from the:
Life expectancy index
Education index
Mean years of schooling index
Expected years of schooling index
Income index
Countries are ranked based on their score and split into categories that suggest how well developed they are.
Infant mortality rate
Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.
Literacy rate
The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.
Life expectancy
This simple statistic can be used as an indicator of the:
healthcare quality in a country or province
level of sanitation
provision of care for the elderly
It should not, of course, be used on its own to describe these things.
Meaning and Definition of Underdevelopment
Underdevelopment is low level of development characterized by low real per capita income, wide-spread poverty, lower level of literacy, low life expectancy and underutilisation of resources etc. The state in underdeveloped economy fails to provide acceptable levels of living to a large fraction of its population, thus resulting into misery and material deprivations. We need to note here that underdevelopment is a relative concept but it sustains absolute poverty.
Underdevelopment is a Relative Concept
The concept of underdevelopment is a relative one because it is the comparison of quality of life between the economies that differentiates them in underdeveloped and developed.
Underdevelopment Sustains Absolute Poverty
Although, concept of underdevelopment is a relative concept but it sustains absolute poverty. Absolute poverty refers to the state of poverty wherein the people fail to fulfil even their basic needs in terms of food, clothing and shelter. In fact, they are a class of people who are always striving to survive. Thus, underdevelopment and absolute poverty go together or underdevelopment sustains absolute poverty.
Characteristics of Underdeveloped Economies
It is difficult to find an underdeveloped economy representing all the representative characteristics of underdevelopment. While most of them are poor in nature, they have diverse physical and human resources, socio-political conditions and culture. Some of the common characteristics displayed by most of the underdeveloped countries in the world are as follows:
Low Per Capita Income
Almost all underdeveloped countries of the world show low per capita income in comparison to developed countries of the world.
Slow Growth Rate of Per Capita Income
Low per capita income and slow growth rate of per capita income are characteristics of these countries.
Economic Inequalities
High inequality of income and wealth is another common feature of underdeveloped countries. In these countries, large percentage of national income is shared by a small segment of the society while a large segment of the society gets barely enough to survive. Economic inequality exists even in developed countries but it is not as much as found in underdeveloped countries.
Low Level of Living
Level of living in the underdeveloped countries is low because of low per capita income. Low level of living of the people of underdeveloped countries is also reflected in Human Development Index prepared by the United Nation Development Programme (UNDP). HDI of developed countries is very high whereas for underdeveloped countries it is very low.
Low Rate of Capital Formation
Rate of capital formation is very low in underdeveloped economies due to low income levels and high incidence of poverty.
Backward Techniques of Production
Underdeveloped economies use outdated technology for production. Lack of capital leads to less spending on research and development.
High Growth Rate of Population and Dependency Burden
These countries are characterised by high growth rate of population and high dependency burden.
Low Productivity of Labour
Underdeveloped economies are characterised by low labour productivity due to low level of skill set.
Underutilisation of Natural Resources
Natural resources are underutilised in underdeveloped economies. Their capability to exploit them is very low.
Large Scale Unemployment
Large scale unemployment is another characteristic feature of underdeveloped countries.
Dominance of Agriculture
Large section of people in underdeveloped economies depends on primary sector for employment. But the primary sector is not well-developed in those countries.
High Incidence of Poverty
Low per capita income results in high incidence of poverty in underdeveloped economies.
Infrastructural Backwardness
Economic infrastructure and social infrastructure are almost at their bottom level in underdeveloped countries.
Low Volume of Foreign Trade
Underdeveloped countries export primary products like, agricultural goods, minerals, petroleum oil, etc., and import finished products, especially consumer goods. Terms of trade are grossly unfavourable to underdeveloped countries
4. Women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.
The chapter positions poverty as the root cause of gender inequality and discusses social entrepreneurship as a path toward women’s economic and social empowerment. The author introduces two approaches to addressing poverty among women: microcredit and small business cooperatives. The microfinance approach is exemplified by the Kashf Microfinance bank, founded by Roshaneh Zafar in Pakistan in 1996. By 2009, Kashf included 14,192 active borrowers, deposits of 3.8 million, and 42,073 depositors. COMUCAP, an organization based in the region of La Paz, Honduras, is representative of the cooperative approach. The program trained women to grow and sell coffee beans as a means to gain economic independence and escape domestic violence. Both case studies emphasize that helping women increase their economic agency gives them footing to combat poverty and achieve independence
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.
Name: Omeje Jacinta Ukamaka
Reg no: 2017/250122
Dept: Economics
Eco 361 assignment
1. the two key Asian Driver economies are China and India. But they reflect very different growth paths. China is integrated into an outward-oriented regional economy, involving fine divisions of labour in many sectors. By contrast (at least until now) India represents much more of a “standalone” economic system. Yet, notwithstanding these differences in structure, they pose major and distinct challenges for the global and developing economies, for six major reasons.
The first is as a consequence of their size.
Second, China (especially) and India embody markedly different combinations of state and capitalist development compared with the industrialised world. Chinese enterprises have their roots in state ownership, usually arising from very large and often regionally-based firms (Nolan 2005; Shankar 2005). Indian firms are probably less distinct from the western model, although they tend to be less specialised and often include elements of social commitment which are largely alien to western firms (Humphrey, Kaplinsky and Saraph 1998).
The third reason why the Asian Drivers present a new and significant challenge to the global and developing economies is that they combine low incomes and low wages with significant innovative potential. This means that they are able to compete across the range of factor prices
Fourth, China and India are associated with very different forms of regional integration. China is part of a distributed regional network of production, reflecting wider regional competitiveness. By contrast, Indian exports are more an outcome of a “national system of production”, so that the spread effects of the growth paths of these two Asian Driver economies are likely to be very different
Fifth, both China and India are now heavily engaged in global institutions, but whereas India has long been a participant, China’s global presence is more recent.
Finally, China and India have huge and rapidlygrowing energy needs. China is already the second largest emitter of greenhouse gases (only exceeded by the US) and by 2015 its energy demand is expected to roughly double, and India’s to rise by 50 percent. The world’s biocapacity will be severely stretched if it is to feed China’s and India’s resource hunger and sustain their growth.
2. Indicators of underdevelopment include: high birth rates, high infant mortality, undernourishment, a large agricultural and small industrial sector, low per capita GDP, high levels of illiteracy, and low life expectancy.
Indicators of development include: Growth rate of National Income, Per Capita Income (PCI), Physical Quality Life Index (PQLI) and Human Development Index (HDI)
3. Low Per Capita Income: The low levels of per capita income and poverty in developing countries is due to low levels of productivity in various fields of production. The low levels of productivity in the developing economies has been caused by dominance of low-productivity agriculture and informal sectors in their economies, low levels of capital formation – both physical and human (education, health), lack of technological progress, rapid population growth which are in fact the very characteristics of the underdeveloped nature of the developing economies.
b. Excessive Dependence on Agriculture: A developing country is generally characterized mostly by agriculture. About 60 to 75 per cent of its population depends on agriculture and its activities for its sustenance. Also, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
c. Low Level of Capital Formation: The low level of capital formation in a developing country is due both to the weakness of the inducement to invest and to the low propensity and capacity to save. The rate of saving in developing countries is low primarily because of the low level of national income. In such an economy, the low level of per capita income limits the size of the market demand for manufacturing output which weakens the inducement to invest.
d. Rapid Population Growth and Disguised Unemployment: the consequence of this rapid rate of population growth is that it throws more and more people on land and into informal sector to eke out their living from agriculture, since alternative occupations do not simultaneously develop and thus are not there to absorb the increasing numbers seeking gainful employment. The resultant pressure of population on land and in informal sector thus gives rise to what has been called “disguised unemployment”.
4. “Poverty has a woman’s face”, this statement is true because gender inequality is a major cause and effect of poverty and women are at the forefront of this inequality. An estimated one in three women experience gender-based violence in their lifetime and women are statistically more likely to live in extreme poverty than men. It is simply not right that millions of women are disproportionately affected by poverty, discrimination and violence.
Name: Ogbuehi Chinazaekpere Esther
Reg no: 2019/244948
Email: chinazapiusogbuehi@gmail.com
ANSWERS.
(1).The Bandung conference in 1955 was the beginning of political emergence of the third world. As a result of decolonisation,the United Nations,at first was dominated by the European countries and countries of European origin was transformed into a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent debate.
(2). Some of the other criteria for measuring development and under development are:
(3). Some of the characteristics of developing nations are as follows:
Low productivity: Most people are not productive. They mostly feel lax when they are supposed to be working on something. Sometimes, people sleep on the job.
High poverty rate: The rate of poverty in developing nations is very high. This is because the resources are not being fully utilized.
High dependency rate: The rate at which people depend on a particular thing is high in developing nations. They depend mostly on the government for their needs. The government, in turn, depending on either agriculture or oil.
Honourable men acting dishonourably: In this case, people who are supposed to maintain the positive outview of the nation behave in a very negative way. They engage in corrupt practices.
(4). Poverty really does have the face of a woman. In the world today, women are the ones that are faced with the most responsibility. According to a UN report, women are faced with the unfavorable end of the stick when it comes to poverty and wealth. Most times, women are left to fend for their families either because they’re left by their husbands because if lack of a male child or because their husbands are irresponsible drunks.
I agree that poverty has the face of a woman. Because it is very evident in almost all developing nations.
NAME: EZEH KEREN KAMARACHI
REGISTRATION NUMBER: 2019/244045
DEPARTMENT: ECONOMICS
1) “Third world ” term is also often taken to include newly industrialized countries like China and India. India first entered the aid field through the Colombian plan in the early 1950s and can be said to have begun its aid giving in earnest after the 1951 royalist coup in Nepal. India aided through export of “intermediate technology”.
China is a founding member of United nations and also also a permanent member of the UN security council. It upholds the universal value of humanity peace, equity and so on. China considers it a duty to actively engage in development cooperation as a responsible member of the committee. Since it’s founding in 1949 China has always demonstrated a spirit of internationalism and humanitarianism following and supporting other developed countries effort to improve their people’s lives and achieve development.
China tried to increase its commercial ties with the west in other to facilitate its modernization. After the September congress, changes in both the content and image of China’s foreign policy became evident. Beijing became more active in terms of contact with third world nations, sponsored seminars in China on development and other third world issues supported more strongly than ever before. The nonaligned movement established diplomatic relations with several new nations ( all in the third world), made some moves that gave the impression of reviving its foreign assistance program and gave new support to the United nations when carrying out development cooperation China emphasizes coordination of plans and strategies with partner countries and responds to the priority needs of developing countries for social and economic progress.
2) UNITED NATIONS DEVELOPMENT INDICATORS
A) income B) human assets C) Economic and environment vulnerability
WORLD BANK DEVELOPMENT INDICATORS
A) poverty and inequality: indicators that measure the incidence and depth of poverty according to national and international definitions as well as the economic inequalities in income and wealth that exist both within and outside the country region.
B) people: indicators on a range of topics that together build a portrait of societal progress across the world. They cover education, health, nutrition, mortality and jobs and unemployment etc.
C) economy: indicators for national account including GDP, GNI, value added and capital formation, as well as balance of payments finance, consumption and adjusted net savings among others, help us to measure the structure and growth of the world’s economy.
D) Environment
E) state and market links
F) global links
3))a) Low levels of living involves: this simply means individuals lack basic necessities and even if they have the resources, it is not enough to take care of their everyday needs. This is a common trait of developing countries.
B) Low levels of productivity: individuals in this countries don’t perform effectively, and to their full capacity. They work below their capacities and even have lackadaisical to work and it’s either because they are not paid well or their values are so.
C) High rate of population growth and dependency ratio: there is usually high rate of population growth, that is people keep on giving birth and the labour market keeps on increasing but the job opportunities are limited and they have to depend on those that are working to provide for them. The more the population grows and jobs are not created, the more the dependency ratio increases. This causes low level of living, it also brings about insecurity because those without job will be left idle and can easily be led to commit crimes to earn something.
D) High and rising levels of unemployment and Underemployment: from the above explanation there are too many people searching for jobs and there are limited jobs and those that are able to get jobs where their educational qualification is higher than.
E) Traditional, rural and social structures: there are many structures that are dilapidated, old and falling because there is no money for renovations. Many rural areas are polluted, and because people can merely take care of themselves they can do nothing about it. The government mostly overlook these areas and focuses on township.
F) Widespread poverty: this cannot be over emphasized all the characteristic mentioned above are enough to explain this. Poverty is widespread because there’s not enough resources or employment and that’s because the population is growing everyday.
G) Substantial dependency on agricultural products: substantial dependency means to largely depend on something. That means they depend largely on agricultural products but then don’t produce enough or in commercial quantities in order not to just feed their family but to export too.
H) Dependency and vulnerability: people are vulnerable because there’s no security or not enough security. There’s probability they can be attacked because there is nobody watching over them and they have this fear of not being safe.
4) For every woman aged between 25 and 34 living in extreme poverty in sub-saharan Africa there are 127 women. Women are often on the forefront where there is poverty. The responsibility of taking care of the household and caring and nurturing the children, the elderly and the sick falls on the women of the family. This women are often concentrated in precarious jobs and they carry a disproportionate of unpaid care and domestic work. Violence against women remains pervasive.
Poverty has the face of a woman because of their hard work and suffering. For me this shows the strength and power of a woman for her to pass through all this and still continue, it should be a honour.
1. To clearly explain the political emergence of the third word countries we must firs understand the concept of the notion ‘third world country’. The term was coined by a French demographer named Alfred Sauvy during the cold war in 1950. By third world country he referred to those countries who had no joined the USA western block, nor the Union of Soviet Socialist Republics led eastern blocks during the cold war period. However, in recent times the third world countries refer to countries that are under-developed or countries that had just been decolonized around the 1945. Economically, the third world countries are countries that are not economically self-sufficient neither did it seem possible that in the near future they will be able to stand on their own without external aids. Unfortunately, the economies of China and India fall under countries with these description during the cold war at
around 1945.
China – China, before its transformative reform of opening out policy in 1978, the economy could barely survive as it depended much on agriculture, mainly on peasant farming, exporting very little and consumed majority of her agricultural produce. About 30% of its population lived in poverty. On the global level it didn’t have much recognition rather than just known as a third world economy.
However, in 1978, after launching its transformative opening reform on December 18th, also when the communist party handed power to Deng Xiaoping, it sets the stage for its all-time economic prosperity with the help of the new president. The first of its reforms was on agriculture. Farmer were allowed to sell their crops in the open market. The success in agriculture and more open trade led to the privatization of other state-owned enterprises. In 1980 China became a member of the world bank and the international monetary fund. In the same year it created four economic zones (Xiamen, Shenghen, Zhuhai, and Shantau) to encourage foreign direct investment. In 1978 through 2007, China’s GDP hovered below $2,500trillion, but sharply increased to $12,500trillion from 2008 to 2017. As at 2022 China’s GDP was at $18trillion. Stock market in Shanghai and Shenzhen opened in 1990. Economic growth boomed the following year, averaging at 10% per year. More than 500million people have been lifted out of poverty. Between 1996 and 2006 China has built about 2.6million roads connecting major cities and villages. In 1949 it citizens can expect to die at the age of 36 and 8 out of 10 can’t read nor write, but by 2014 life expectancy have more than doubled to 76 and 95% are literate. In international rankings of nations in education, science, technology, and innovation, China stood at the bottom a generation ago, but after two decades of determined investment in the country’s human capital, it has become a global competitor.
In promoting the political emergence of third-world countries, in 2014 China inaugurated a major international economic program by financing infrastructural projects in the historical silk routes countries and in Africa. Today China competes with the first-world and second economies including the USA, and they are both in a trade war.
India – The Economic growth of India started at around the same time as China, in 1990. Before this time its economy was a loose hybrid of the Soveit Union style of centrally planned economy and a free market system from the British colonization. The collapse of the Soviet Union which was their primary trading partner at the time combined with the poor economic performance under the system meant that the country faced a huge international debt problem that it barely avoided going bankrupt due to last minute loan from the International Monetary Fund. Since 1991 India has embarked on a growth trajectory and doubling in size every 5 years. Also, like China, India did really well in terms of opening out to foreign investors. It had enough labour workforce which meant cheap labour, and it is the second-largest English-speaking country which means ease of doing business. For the past decades, India has been a go-to destination for accounting, engineering, design, and legal services. It has a GDP of $ 3.5 trillion (only behind the USA, China, Japan, and Germany), and with a population of $ 1.38 billion people, its GDP per capita is $2,515 which puts them at the bottom of the global economy yet.
However, being a developing nation poverty is still a major challenge. But poverty is on the decline in India. According to World Bank, extreme poverty has reduced from 22.5% in 2011 to 10.2% in 2019. According to the latest WHO data published in 2020 life expectancy in India is a total of 70.8 which gives India a World Life Expectancy ranking of 117.
In terms of Human Capital Development India’s score increased to 0.49 from 0.44 in 2018, making it stand 116th by global ranking, as per the recent Human Capital Index report released by the World Bank.
In terms of contributing to the third world, it is in itself an investor in its counterpart developing countries. Of 10 countries in Africa, Indians can be found in 8 of them. On the global stage, it yet didn’t lack in relevance as it has been contributing to key sectors of the Global economy including; technology, education, telecoms, innovation, etc. Between 2020 and 2021 about 10 Indian-owned companies entered the fortune 500 lists.
2.
a. National Income Index
Economic development takes place if real national income increases over time. For example; India has a GDP of $ 3.5 trillion but this didn’t tell much of its growth, but by dividing by its population of $ 1.38 billion people, we’d arrive at GDP per capita of $2,515 which puts them at the bottom of the global economy yet, and this is the true indicator of its GDP growth. So, a change in per capita income, rather than a rise in the economy’s real national income, best captures development from the point of view of development. In this sense, the rate of growth in real per capita GNP is used to measure the overall economic well-being of the entire population.
Unfortunately, despite the lights of this measure of economic development it yet suffers some limitations. And It’s due to these limitations it can’t be totally considered as the perfect measure of economic being. At best, real per capita income is just a partial index of economic development. Some of its limitations include;
• It does not consider the composition of output.
• It doesn’t take into account the distribution if income that accompanies an increase in income.
• It doesn’t take into account the problem of poverty. Despite an increase in per capita income, the living standard of the masses may not increase due to possible increase in the number of people living below the poverty line.
• An increase in income is not a sufficient condition for an increase in welfare and development because an increase in income can involve cost such as more work, an increase in natural resources, Increased environmental pollution, etc. Per capita income index does not take into account any allowance for these cost elements.
• Per capita income index excludes many goods and services not passing through the market.
• There may be several problems while using the per capita income index in the international comparison.
b. Human Poverty Index (HPI-1 and HPI-2)
The Human Poverty Index (HPI) was created by the United Nations to complement the Human Development Index (HDI) and was first reported as part of the Human Development Report in 1997. It was a measure of community poverty in a nation. The UNDP, which also publishes indexes like the HDI, is responsible for its development. In comparison to the HDI, it was thought to more accurately reflect the severity of deprivation in poorer countries. It was replaced in 2010 by the UN’s Multidimensional Poverty Index. (Wikipedia.com)
The HPI also focuses on the lack of three fundamental aspects of human life that are already reflected in the HDI: lifespan, knowledge, and a reasonable standard of living.
HPI-1 and HPI-2 are the two separate calculations of the HPI. The HPI-1 means human poverty index for developing countries – it measures human deprivations in the same three aspects of human development as the HDI (longevity, knowledge and a decent standard of living). While the
HPI-2 means human poverty index for selected high-income OECD countries includes, in addition to the three dimensions in HPI-1, social exclusion.
According to planningtank.com, For HPI-1 (developing countries): deprivations in life span are measured by the probability at birth of not surviving due to age 40; deprivations in information are measured by the rate of grown-ups who are illiterate; deprivations in a respectable expectation for everyday comforts are measured by two variables: the rate of individuals not having maintainable access to an enhanced water source and the rate of youngsters underneath the age of five who are underweight. For HPI-2 (selected high-income OECD countries), deprivations in life expectancy are measured by the likelihood of not reaching age 60 at birth; deprivations in knowledge are measured by the proportion of mature people who need practical proficiency aptitudes; deprivations in the average expectation for everyday comforts are measured by the proportion of people who live below the income poverty line, which is set at half of the balanced average family disposable salary; and social rejection is measured by the proportion of people who are rejected by society.
c. Human Development Index
The United Nations Development Program (UNDP), an organization of the UN, created this index of economic development. In 1990, for its first Human Development Report, the UNDP created the Human Development Index (HDI). Pakistani economist Mahbud UI Haq and Indian economist Amartya Sen were the first to create the idea of human progress.
The fundamental tenet of this strategy is that several other characteristics of human development, such as life expectancy, literacy, political freedom, human rights, gender equality, etc., should also be taken into account when assessing a country’s level of development instead of only its national wealth.
In light of this, the Human Development Report (1997) described human development as the process of enhancing people’s level of well-being while also broadening their variety of choices. In this context, the idea of human development encompasses all human economic decisions—social, cultural, and political—and extends well beyond wealth and wellbeing. This idea puts a strong emphasis on people and sees all aspects of economic development as ways to better people’s lives.
In its construction, the human development index is a strategic element in the new approach to economic development. It is evaluated based on per capita income or living standard, literacy rate, and life expectancy at birth.
The values range from 0 to 1. A value closer to 0 reflects low economic development, while a value closer to 1 reflects high economic growth and development.
Its components includes; a long and healthy life, Knowledge (mean year of schooling and expected year of schooling), and a decent living standard.
However, despite being regarded as superior to other instructors of human development, the HDI has some limitations which are;
• It does not include gender discrimination
• It does not include income inequality
• It does not include aspect of human right and political freedom
• It doesn’t include environmental declaration due to the development and consumption activities of humans.
3.
a. Lower per capita income – This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and investment, ultimately creating a vicious cycle of poverty. According to the world bank, it estimates that for the year 1995, average per capita income of the low-income countries is $430 as compared to $24,930 of the high-income countries including France, the USA, and Japan. However, in recent years the World Bank assigns the world’s economies to four income groups—low, lower-middle, upper-middle, and high income. The classifications are updated each year on July 1 and are based on the GNI per capita of the previous year (2021). As of 2021, the per capita income of low-income countries was $712, lower-middle countries were $2,570, upper-middle countries were $7,347, and high-income countries were $37,586, on average. Of course, Nigeria was in the lower-middle category with GNI per capita (Atlas method) at $2100, higher than Cameroon at $1,590, but lower than Ghana at $2,360, and India at $2,170 in the same lower-middle category. So, the low-income countries only improved by lower than 80% 26 years later.
b. Lower levels of human capital development – The human capital development index is an index that measures the growth of a particular country in key areas: a long and healthy life, being knowledgeable and have a decent standard of living. The health area is assessed by life expectancy at birth, the education dimension is measured by mean of years of schooling for adults aged 25 years and more and expected years of schooling for children of school entering age. The standard of living area is measured by gross national income per capita.
c. Poverty and malnutrition are very high – Malnutrition refers to deficiencies, excesses, or imbalances in a person’s intake of energy and/or nutrients. In many underdeveloped countries malnutrition is commonplace. In a way, poverty and malnutrition go hand in hand to explain the level of wretchedness in a particular country. Poverty in the world today is in its highest at 76.8% and in its lowest at 0.6%. While overall poverty rates have improved considerably in recent decades, several individual countries have experienced a rise in poverty. As previously mentioned, 696 million people still live in extreme poverty, surviving on less than $1.90 (INT) per day. More than 430 millions of these people live in Sub-Saharan Africa, the poorest region in the world, where more than 40% of people lived in extreme poverty as of 2018. Many countries in which poverty is rising have been plagued by political instability or conflict. Others are hampered by frequent natural disasters or ongoing environmental stresses (increased drought in particular) caused by climate change. Several countries in Sub-Saharan Africa face both of these concerns.
d. High rate of population growth – Recent studies have shown a high rate of population growth in developing countries. In fact, the predicted increase in the population index from current 7.1 billion to 9.2 billion in 2050 is mainly attributed to developing countries. According to historical studies, population growth started to become exponential in 1750. Research have shown that “population grows fastest in poorest countries”. Low population growth in early years was mainly due to famine, plagues and poor living conditions. Later, population growth increased exponentially to 5 billion during the period of 1950 to 1985 and this was attributed to advances in agriculture. Another fact that has provoked some political debate is that population growth in developing countries is relatively higher as compared to developed nations. Three main reasons are associated with the relatively higher population growth rate in developing countries. The reasons are low mortality rate, high fertility rate, lack of adequate knowledge on family planning methods and better medical facilities.
e. The agricultural sector is the main employment sector – The agricultural sector is known as the backbone of developing countries. It accounts for between 30 to 60 percent of the total GDP and employs about 70 percent of the total workers. Apparently, this are a huge number of peoples involved in the agriculture industry if compared to any other sectors in developing countries. In other words, the agricultural sector is the major source of employment in most of developing countries. This is because the owner of the farm usually found that it is necessary to hire additional hands for the purpose to cultivate the lands successfully and to look after the livestock. China depended once depended solely on its agricultural sector for many years before it began to develop and moved to other high-income sectors.
4. The notion that poverty has a woman face is true. The women always suffer more from crises is a society. They face crises which worsens and weakens their condition. Unemployment, precarious work, part-time work, low salaries and slow career paths affects women more than it does to men.
Let’s consider Nigeria for example. Women constitute over 60% of the poorest people in Nigeria and according to the IMF Nigeria has over 87 million people in extreme poverty which translates to around 52 million women living in extreme poverty.
Although there have been attempts by successive governments in Nigeria to improve the livelihood of women in Nigeria and lift them out of poverty, a large number of women continue to wallow in extreme poverty. According to a study that investigated 600 women in Nigeria in relation to possible psychological factors such as job involvement, self-efficacy and goal orientation that could be a possible cause in this scenario. The result showed that women who are learned and goal-oriented strive to develop skills and are more disposed to starting up a business that is job oriented. Although, the study only investigated women from Lagos and Ogun western part of the country. If wider research was to be taken what we would truly find is that a majority of younger women under the age of 35 are women blindly engaging in crimes for the sustenance of their livelihood in society and such crimes include corruption, prostitution and joining some of the groups of men in cattle rustling and kidnapping of people due to the extreme level of poverty in the country. The other 36 and above are women that are already approaching the peak of their career/life for which there is little they can do to survive but yet the government provides them nothing.
However, I like to think that the notion “poverty has a woman’s face” concerns a particular category of women more – the women who have children to fend for. I’m the last of seven children. Growing up I saw how my parents strived to take care of us, but at some points, I noticed some partiality in their responsibilities. My mum tends to pay majority of the bills at home than my dad, and I mostly approach my mum than I do to my dad. So many a times she agitates ‘common go to your dad’, which shows that she was already tired of the spending that comes from her. My dad on his part barely drops money for feeding but would always be served a meal whenever he comes home from work. So, this is basically this what goes on in an average Nigerian home. The mother is always the one to look after the children and ensure they are being taken care of.
Now, I imagine, what if my mum wasn’t a trader selling women wears, could we have been able to survive as a family? Could my dad’s earnings alone been able to sustain us at such economic downturn. Therefore, it is on this basis that I strongly support the notion that ‘poverty has the face of a woman’.
To conclude, I recommend that nation-states across the globe, especially developing ones, should make efforts to re-strategize the approach towards women development through skill acquisition and value orientation.
1.)The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.
2.Despite shortcomings of per capita income as a measure of development, the World Bank, International Monetary Fund (IMF) and other international agencies consider developed and developing countries in terms of Gross National Income (GNI) per capita. The World Bank classifies different countries of the world on the basis GNI per capita representing their development status. The figures of GNI per capita of different countries used belong to the World Bank fiscal year ending on June 30 of the year.
According to this World Bank classification:
(i) low income countries are those with GNI per capita of $ 1035 or less in 2012 (the latest year which is presently available).
(ii) Middle income countries are those with GNI per capita more than $ 1035 but less than $ 12,616.
Middle income countries are further divided into:
(a) Lower middle income economies and
(b) Upper middle income economies
3Capital deficiency. A very important feature of developing countries, the shortage of capital is reflected in the low capital labor ratio in these countries
Over dependency in agriculture. Most developing countries depends Solely on agriculture because of that over 50% of the population lives in the village.
Natural resources. Mostly there are scarce natural resources in developing countries due to economic backwardness, in various developing countries there are natural resources but poorly utilized and misutilized due to poor capital and workmanship
Outflow of best brain. Due to nature of the economy the best brain travels outside of the country to study and get higher education which later they’ll rather not come back to poor salary payment.
Market imperfections.due to Market imperfections the productive efficiency in these countries are poorly overallocated.
Inflation.due to high level of prices purchasing power and customers savings tends to decrease.
4.I agree that poverty has the face of a woman due to the various poor conditions women has to undergo for the benefits or the wellbeing of their children and husbands and society at large .
Many factors cause women’s poverty including: lack of access to education, opportunities, childcare and fair income, sex-role stereotypes in paid work, changes in family composition such as divorce, health, violence and abuse, leaving gainful employment to caregive, and greater risk and increased poverty for women who are Aboriginal, non-white, disAbled or queer.
Women as the face of poverty results in children who are poor. Poverty among children is strongly linked to ill-health and poor academic achievement. By keeping women poor, we are also keeping children poor, making them sick, sabotaging their futures, contributing to crime, and perpetuating the cycle of poverty and violence. We need to work together to effect change social changes that will help not just some, but all women and children to succeed
1:The third world originated from a cause of a cold war to define countries that remain non-aligned with either North Atlantic treaty organization or the Warsaw Pact.The “First World”Which included The United States, japan, Canada, South Korea, while the Soviet Union, Cuba, China, North Korea, Vietnam and their allies represented the “Second World”. This method had a terminology categorizing the nations of the Earth into three groups based on political divisions. Strictly speaking, “Third World” was fully political, rather than an economic, grouping.Since the dissolution of the Soviet Union and the end of the Cold War, the term Third World has decreased in use. It is being replaced with terms such as developing countries or least developed countries . The concept itself has become outdated as it no longer represents the current political or economic state of the world and as historically poor countries have transited different income stages.The Third World was normally seen to include many countries with colonial pasts in Africa, Asia, Oceania, and Latin America.Third World has also been connected to the world-systemic economic division as “periphery” countries dominated by the countries comprising the economic “core”
Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World.Some countries in the Eastern Bloc, such as Cuba, were often regarded as “Third World”. Because many Third World countries were economically poor and less or non-industrialized, it became a standard to refer to developing countries as “third world countries”. In the Cold War, some European democracies (Austria, Finland, Republic of Ireland, Sweden, and Switzerland) were neutral in the sense of not joining NATO, but were prosperous, never joined the Non-Aligned Movement, and seldom self-identified as part of the Third World.
2:People have many different developmental goals other than income. Higher income alone cannot bring about development. Several criteria other than per capita income are used to evaluate the economic development in different countries and states.
Some criteria other than income used to compare development are:
Life expectancy
Infant mortality
Literacy rate
Net attendance ratio
Gross enrollment ratio
A community also needs public facilities for education and training, affordable healthcare, and provisions for adequate food and nutrition for development. Body mass index is an interesting way to find your health status.
Countries with lower per capita income than India have comparable or higher developmental performance on other criteria. A more reliable criterion for comparing national development is the average income or per capita income. Average income of a country= Total income of the country/ Population of the country.
Based on its per capita income, India falls in the category of low-income countries. Per capita income hides individual income disparities. Countries with equitable distribution of income have no rich and no poor. Countries without equitable distribution of income have rich and poor people.
3: Here are some characteristics of developing countries:
*Developing economies are low on business trade, globalization, and technological advancement.
*Such economies majorly depend on their resources and agriculture, so they are often agro-based economies.
“In developing economies, there is always a rising problem of poverty and hunger.
*These nations are dependent on other countries for their revenue and smooth functioning.
*These countries are on low or no foreign reserves.
*One of the key developing economy features is that one can rank such countries on the basis of their per capita income which is relatively lower than developed nations.
*No one drives these economies well and they face problems like illiteracy and overpopulation.
*People’s quality of life and living standards in such nations are poor and below average.
*The growth and development opportunities for citizens are low in such economies, and in some cases, people struggle for basic day-to-day needs.
*The government has to deal with issues of poor infrastructure and providing basic necessities to their citizens.
*The currency exchange rate of such countries is very low, and they hardly play any role or contribute to the world economy.
*Such nations only have two or three major earning resources that depend on how other countries participate, like exporting abundantly available resources in their regions, tourism industry, etc.
4:When it comes to that statement of “Poverty has a woman’s face”/”Poverty has the face of a woman” I agree with some points of mine.
Globally, poverty remains a challenge,the World Bank estimates that 1.29 billion people live in absolute poverty; the sad fact is that about 70 per cent of them are women. Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour, they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.The risks of increasing poverty grow in parallel with the number of women-headed households. Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
Q1. As a result of decolonization, the UN at first numerically dominated by Europe communities and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, through the essentially academic debate. Despite that debate, the unity of the third world remain hypotheticallybpressed mainly from the platforms of international conference.
Q2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.
The criteria by UN takes into consideration of development indicators like Human development Index(HDI),and Human poverty Index (HPI). According to UN,Countries with high HDI are developed while countries with low HDI are less developed. Also,countries with low HPI are developed,while countries with high HPI are less developed.
Q3. Low level of living: this simply means that a segment of the population of a country does not have adequate access to much wealth and basic services and amenities necessary for living, lack of food, shelter, clothing etc.
Low levels of productivity: this means that resources are not being used to their highest and fulest capacity, that is they are not utilizing their skills and competences to their maximum potential which in turn increases a company’s resources costs.
High rate of population growth: this occurs when the population of an economy or country exceeds the available resources to sustain and neet the basic need of the citizens in that economy.
Traditional and rural social structure: traditional structures can hinder development due to lack of urbanization and acceptance of new innovations and ideas for the improvement of that particular region or economy.
Wide spread poverty: this occurs when most regions in an economy are extremely poor occuring in most individuals. This state of poverty reduces the level of living making life extremely hard and un sustainable for individuals in those regions of the economy.
Substancial dependence on agriculture: this implies to over dependence on agriculture mainly for consumption and not for commercial purposes. Even exporting of only agricultural products can limit a country’s development.
Feeding the government: when the government extorts its citizens and uses the money for their own personal gain it leads to under development. Not meeting the need of the people by providing good roads, jobs, Infrastructure etc, leading to low level of living in the lives of the individuals in the economy.
Increase in unemployment: this occurs when the number of youths in the economy are without jobs, this may lead to increase in crime thus hinders Development in that economy.
Q4. I agree with the argument that ‘poverty has the face of a woman’. This is because in the society,it is known that men are born to provide for and protect there family, while the women are meant to support the husband. In the course of providing for a family or an individual need,the father or male does it better since it is more like a natural responsibility of all men. The woman in the other hand might find it hard in performing this function especially when she is acting as single mother. This is evident in the society. Most women after losing there husband finds life hard while being the bread winner of the family. They get affected mentally, physically and even emotionally,in some cases they end up losing their life due to the pressure and pain they go through.
Another point is that, the society in most cases is unfair to the women. They are not given access to many Social activities such as Education, leadership etc that will bring out there innate ability. This impedes them from being able to function adequately in the course of fending for themselves. They are been made to depend solely on men which in most cases are there husband, for there survival.
NAME: MBAH JULIET EZINNE
REG NO: 2019/241713
DEPARTMENT: EDUCATION AND ECONOMIC
COURSE: DEVELOPMENT ECONOMIC
2) The Bretton Woods Institutions are the World Bank and the International Monetary Fund (IMF). They were set up at a meeting of 43 countries in Bretton Woods, New Hampshire, USA in July 1944. Their aims were to help rebuild the shattered postwar economy and to promote international economic cooperation. The original Bretton Woods agreement also included plans for an International Trade Organisation (ITO) but these lay dormant until the World Trade Organisation (WTO) was created in the early 1990s.The creation of the World Bank and the IMF came at the end of the Second World War. They were based on the ideas of a trio of key experts – US Treasury Secretary Henry Morganthau, his chief economic advisor Harry Dexter White, and British economist John Maynard Keynes. They wanted to establish a postwar economic order based on notions of consensual decision-making and cooperation in the realm of trade and economic relations. It was felt by leaders of the Allied countries, particularly the US and Britain, that a multilateral framework was needed to overcome the destabilising effects of the preprevious global economic depression and trade battles.
In his opening speech at the Bretton Woods conference, Henry Morganthau said the “bewilderment and bitterness” resulting from the Depression became “the breeders of fascism, and finally, of war”. Proponents of the new institutions felt that global economic interaction was necessary to maintain international peace and security. The institutions would facilitate, in Morganthau’s words, “the creation of a dynamic world community in which the peoples of every nation will be able to realise their potentialities in peace.”
The IMF would create a stable climate for international trade by harmonising its members’ monetary policies, and maintaining exchange stability. It would be able to provide temporary financial assistance to countries encountering difficulties with their balance of payments. The World Bank, on the other hand, would serve to improve the capacity of countries to trade by lending money to war-ravaged and impoverished countries for reconstruction and development projects.
3) Characteristics of Developing Countries
1) Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
2) Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
3) Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children.
4) The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
4) Yes, poverty has the face of a woman
Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment,” said rapporteur Elisabeth Morin-Chartier (EPP, FR) in Monday’s debate marking International Women’s Day. Parliament points out that cuts in education, childcare and care services have pushed women to work shorter hours or part-time, thereby reducing not only their income but their pensions as well.
Invest in women
MEPs say that to restore growth and to reverse the effects of the crisis, member states must invest in lifelong training, re-skilling policies, teleworking and new jobs, promote female entrepreneurship and develop child-care facilities. They must also include women in decision-making and promote gender balance on company boards.
The resolution on the impact of the crisis on gender equality and women’s rights was passed by 495 votes to 96, with 69 abstentions.
Fighting gender stereotypes
Gender stereotypes also contribute to the feminisation of poverty, say MEPs. They persist in the labour market in sectors such as engineering and childcare, leading to occupational segregation and the gender pay gap.”Stereotypes and lower pay increase the risk for women to fall into poverty, particularly for older women, also due to low pensions,” said rapporteur Katrika Tamara Liotard (GUE/NGL, NL). She added: “the media can contribute to reducing female stereotypes.” They call for measures to combat gender stereotyping in education, from the kindergarten onwards, and in the media, advertising, the labour market and politics. MEPs also insist that the female image should be portrayed in a way that respects women’s dignity instead of sexualising girls and women.
North Africa
Parliament calls for better use to be made of EU instruments in order to protect women’s rights in the countries of North Africa and it asks their authorities to enshrine the principle of equality between women and men in their constitutions and to end all forms of discrimination and violence against women. “This is a strong and unequivocal signal of solidarity and support to women who are fighting in North Africa for freedom, democracy and universal human rights of men and women against all forms of discrimination and violence. As they explained, for them it is the same battle. We need to support and accompany this difficult transition and ensure their rights are recognised and protected in the constitution and in the legislation,” said Silvia Costa (S&D, IT), who drafted the resolution.
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
It enabled African nations to diversify foreign trade and become less dependent on trade with the US or EU. Growing trade with China increased Africa’s overall global trade, implying that trade creation outpaced trade diversion.
The Bandung conference of 1955 led to the emergence of the third world. India played a major role in raising the voice of newly independent countries. As a result of independence movement, the United Nations was gradually transformed into a third world forum.
Developed Countries have good infrastructure and a better environment in terms of health and safety, which are absent in Developing Countries. Developed Countries generate revenue from the industrial sector. Conversely, Developing Countries generate revenue from the service sector.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
According to Tikson (2005) presented on these five indicators:
1. Income per capita
Per capita income, both in terms of GNP and GDP, is one of the macroeconomic indicator is a measurable part of human well-being, so that it can describe the welfare and prosperity of society.. So that the growth of national income, so far, has been used as a development goal in third world countries.
2. Economic structure
It has been assumed that an increase in per capita income will reflect a structural transformation in the economy and social classes. With economic development and per capita increase, the contribution of the manufacturing / industrial and service sectors to national income will continue to increase. The development of the industrial sector and the improvement at the level of wages will increase the demand for industrial goods, which will be followed by the development of investment and expansion of the workforce. On the other hand, the contribution of the agricultural sector to national income will continue to decline.
3. Urbanization
.In accordance with the industrialization experience in Western European countries and North America, the proportion of the population in urban areas is directly proportional to the proportion of industrialization. This means that the speed of urbanization will increase in line with the fast pace of the industrialization process. In industrialized countries, the majority of the population lives in urban areas, while in developing countries the largest proportion lives in rural areas. Based on this phenomenon, urbanization is used as an indicator of development.
4. Savings Figures
The development of the manufacturing / industrial sector during the industrialization stage requires investment and capital. Financial capital is a major factor in the industrialization process in a society, as happened in England in general Europe at the beginning of the growth of capitalism which was followed by the industrial revolution. In a society with high productivity, this venture capital can be collected through savings, both private and government.
5. Quality of Life Index
The Quality of Life Index (IKH) or Physical Quality of life Index (PQLI) is used to measure people’s welfare and prosperity. Macroeconomic indexes cannot provide a picture of people’s welfare in measuring economic success. For example, the national income of a nation can continue to grow, but without increasing social welfare.
The quality of life index is calculated based on:
(1) The average life expectancy at the age of one year,
(2) Infant mortality rate, and
(3) Numerical literacy.
In the quality of life index, the average life expectancy and infant mortality rate can simultaneously describe the nutritional status of children and mothers, health status, and family environment which is directly related to family welfare. Education is measured by literacy rate, which can describe the number of people who have access to education as a result of development. This variable describes the welfare of the community, because the high economic status of the family will affect the educational status of its members. By the makers, this index is considered the best way to measure the quality of human beings as a result of development, in addition to per capita income as a measure of human quantity.
6. Human Development Index ( Human Development Index )
. The basic idea underlying this index is the importance of paying attention to the quality of human resources. According to UNDP, development should be aimed at developing human resources. In this understanding, development can be defined as a process that aims to develop options that can be made by humans. This is based on the assumption that improving the quality of human resources will be followed by the opening of various options and opportunities to determine the path of human life freely.
Economic growth is considered an important factor in human life, but it will not automatically affect the improvement of human dignity and dignity. In this connection, there are three components that are considered the most decisive in development, long and healthy life, the acquisition and development of knowledge, and the improvement of access to a better life. This index is created by combining three components. The three components are:
(1). average life expectancy at birth,
(2). average educational attainment at the elementary, junior high and high school levels,
(3). per capita income calculated based on Purchasing Power Parity .
Human development is closely related to increasing human capabilities which can be summarized in increasing knowledge, attitudes and skills , in addition to the health status of all family members and their environment.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Low levels of living: due to lack of good governance and also misappropriation of public funds and problems associated with unemployment, citizens receive low income and can’t afford the cost for good standard of living.
Illiteracy: here people in developing countries lack the financial capability to be educated
Widespread poverty: due to corruption, embezzlement of public funds and negligence by government, they do not allocate resources properly that could help alleviate poverty, developing countries face poverty
Low levels of productivity: most developing countries do not diversify their economy, instead of investing in other sectors, the only concentrate on one maybe oil/gas, this brings about increase low levels of productivity.
High and rising levels of unemployment and underemployment: the government is not creative enough to know how to create more jobs and those working do not want to retire from office and the population keeps growing, this then increases the number of unemployed people.
Underemployment: some graduate are not fixed or offered jobs in their field after graduation eg a computer engineer working as a marketer in a bank.
Dependency and vulnerability: developing countries produce little or nothing, so the therefore depend on the developed countries for a lot of goods, and also citizens are exposed to the possibility of being harmed /attacked either physically or emotionally.
Lack of good governance: in developing countries its only an assumption that democracy is practiced. Most times people are elected not on free and fair basis and the citizens can’t do anything about the situation because they rich has hijacked the government. Positions are now bought.
Insecurity: lack of national defense. Also unemployment , unequal allocation of resources leads to insecurity in developing countries.
Substantial dependence on agricultural production and primary product exports: Government do not invest in agriculture properly, its not harnessed properly , if government provide sophisticated machines better that the crude farm implements being used by farmers, the output will be greater and we would have more food for the nation and also for export , which also will generate revenue for the country.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If no? Why?
This statement originated majorly from the case of three women from Pakistan
I agree that poverty has a woman’s face with the following points:
1.Child-bearing and child rearing: after child-bearing a woman is expected to nurse her child and this responsibility makes a lot of not to work, and even those that work and being given paternity leaves and sometimes in private firms unpaid salary leaves.
This makes it difficult for women to enjoy working or their carriers.
2. Domestic unpaid labor: you will agree with me sir that so many men do not pay their wives for all the domestic chores they do but when domestic workers are employed they are paid.
Women are cooks, janitors/ house keepers and etc.
3. socialization patterns/ restrictions are placed on women’s choice of work : in some countries the female gender are not allowed to work or do certain jobs, restrictions are placed on women’s choice of work which makes it difficult for certain women to practice some profession, example Russian women are not allowed to drive trains or pilot ships.
According to world economic forum statistics 2.7bn women do not have the same choice of jobs as men.
4. sexual harassment: so many women have faced sexual harassment just in the bid of searching for job. Some women due to the experience of sexual harassment have lost interest in working or applying for certain jobs.
I agree with the saying by sarah iqbal, program manager of the world bank’s women, business and the law project, states “unfortunately, laws are a straight line for men and a maze for many women around the world, and that needs to change. There is no reason to keep women out of certain jobs or prevent them from owning a business. Our message is simple: no women, no growth”.
Sources : world economic forum
Source: http://ppmkp.bppsdmp.pertanian.go.id/indidik-keberentuk-pembelian/
Ochinanwata Chidiuto Francisca
2019/249884
1) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
2) The United Nations’ Human Development Index seeks to quantify a country’s level of prosperity based on both economic and non-economic factors. Non-economic factors include life expectancy, and educational attainment. Economic factors are measured by (GNI) per-capita.The world Bank database is a compilation of relevant, high-quality, and internationally comparable statistics about global development.
3) A. Low standard of living: most people living in developing countries are experiencing more of poverty, poor health, lack of shelter and clothing, etc. This is the one of the major characteristics of developing countries. In my country Nigeria we experience lot of health care problems, lack of adequate health facilities and poverty.
B. Unemployment and underemployment: unemployment is a situation whereby a person who is capable of working, seeking work, but unable to find any work. It is important to note that to be unemployed a person must be an active member of the labour force and in search of remunerative work . Underemployment is the situation of those who are able to find employment only for shorter than normal periods—part-time workers, seasonal workers, or day or casual workers.For example, an individual with an economics degree working as a salesgirl as her main source of income is considered to be underemployed. This is always seen in developing countries.
C) Low level of productivity: majority of developing countries has the problem of poor management of resources which leds to low level of productivity. Low productivity shows that resources are not effectively utilized to their maximum potential that increases company’s resourcing costs.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
I disagree. The statement is wrong, poverty doesn’t have the face of a woman. In developed countries women are given equal rights and opportunities like men because woman has bright ideas when properly invested in. Most women possess more ideas and strength than men. In my country Nigeria, I have seen a lot of cases were women are the breadwinner of their families, struggling everyday to put food on their children’s table. Their is this saying that goes ” There is woman behind any rice man whom he listens to”. Most men in developing countries refuse to accept the ideas or suggestions made by a woman because they believe that woman suppose not to have equal rights with them. I strongly believe that women can change the face of poverty when given the opportunity to.
NAME: NWOKAFOR CHIDERA CLARE
REG NO: 2019/249161
DEPARTMENT: ECONOMICS
1. Third World arose during the Cold War to define countries that remained non-aligned with either NATO or the Warsaw Pact. Third World” is an outdated and derogatory phrase that has been used historically to describe a class of economically developing nations. It is part of a four-part segmentation that was used to describe the world’s economies by economic status. China and India have become world economic powers; they are attempting to harness the forces of globalisation so as to strengthen their international standing in multilateral institutions like the WTO. The global integration of China and India reflects their emergence as powerful modern economies. But this transformation creates tension between nation-centric class interests and the newly created relationships linked to transnationalized accumulation. This shift and its resulting contradictions constitute the dominant process in the world today. The struggle is both global and internal as each national economy is remolded to fit into the emerging global mode of production. This conflict pits descending forms of national production against rising forms of globalized capital. The Bandung conference of 1955 led to the emergence of the third world. India played a major role in raising the voice of newly independent countries. As a result of independence movement, the United Nations, was gradually transformed into a third world forum.
2. Per capita income is the main criterion used by the World Bank in classifying different countries. Per capita income is the total income of the country divided by the number of people in that country.
The UN’s Human Development Index (HDI) looks at three standards of living criteria literacy rates, access to education, and access to health care and quantifies this data into a standardized figure between zero and one. Most developed countries have HDI figures above 0.8.
3. Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save.
Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty.
Rapid Population Growth: Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children.
The Problem of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on.
Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations.
4. Yes, I agree that poverty has the face of a woman because women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents. Women constitute a majority of the poor and are often the poorest of the poor.
1)
2) Human Development Index (HDI) seeks to quantify a country’s level of prosperity based on both economic and non-economic factors. Non-economic factors include life expectancy, and educational attainment. Economic factors are measured by gross national income (GNI) per-capita.
3) substantial dependency on agriculture:they produce agricultural goods in small quantity for family consumption,they don’t produce in large quantities to export to other countries commercially.
High rate of unemployment:the high rate of unemployment in developing countries is caused by low industrial development.
Wide spread of Poverty:most individuals n developing countries suffer from poverty,they can’t provide their basic needs like food,shelter and clothing.you can see most of them on the road begging for money,wear wearing tattered clothes with no slippers.
High population rate:population rate in developing countries is high.let me use Lagos in Nigeria as an example,the population in Lagos is high that people leave their house o their work place so early as 4 o clock and end up getting to their place of work 4hours later.some parents have the belief that the more children they give birth to,the less labor work at the farm and more money.this stimulate them to give birth to more children.
4) Yes poverty has a woman face. Women are often on forefront where there’s poverty.women bear the pain of child bearing,she feeds and take care of the family.it is true that I haven’t passed a road side,a woman sitting on the road side begging for money with her children.for once I haven’t come across any man with his children doing so.when the children re hungry is still the mother children come to disturb.
Ogbonna Mmesoma Rita
Economics/Education
2019/243578
3 . Characteristics of Developing Countries
The countries in which the process of development has started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Here we will discuss the different characteristics of developing countries of the world.
Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
The characteristics of developing nations are briefly explained below.
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
BInfrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020.
4. Yes as a budding Economist I agree that “Poverty has a face of woman”
“Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment,” said rapporteur Elisabeth Morin-Chartier (EPP, FR) in Monday’s debate marking International Women’s Day.
Parliament points out that cuts in education, childcare and care services have pushed women to work shorter hours or part-time, thereby reducing not only their income but their pensions as well.
Invest in women
MEPs say that to restore growth and to reverse the effects of the crisis, member states must invest in lifelong training, re-skilling policies, teleworking and new jobs, promote female entrepreneurship and develop child-care facilities. They must also include women in decision-making and promote gender balance on company boards.
The resolution on the impact of the crisis on gender equality and women’s rights was passed by 495 votes to 96, with 69 abstentions.
Fighting gender stereotypes
Gender stereotypes also contribute to the feminisation of poverty, say MEPs. They persist in the labour market in sectors such as engineering and childcare, leading to occupational segregation and the gender pay gap. “Stereotypes and lower pay increase the risk for women to fall into poverty, particularly for older women, also due to low pensions,” said rapporteur Katrika Tamara Liotard (GUE/NGL, NL). She added: “the media can contribute to reducing female stereotypes.”
The EP calls on the Commission and the member states to use EU programmes, such as the European Social Fund, to get more women into professions where they are under-represented and to guarantee equal pay for equal work.
They call for measures to combat gender stereotyping in education, from the kindergarten onwards, and in the media, advertising, the labour market and politics. MEPs also insist that the female image should be portrayed in a way that respects women’s dignity instead of sexualising girls and women. The non binding resolution on eliminating gender stereotypes in the EU was adopted by 368 votes to 159, with 98 abstentions.
North Africa
Parliament calls for better use to be made of EU instruments in order to protect women’s rights in the countries of North Africa and it asks their authorities to enshrine the principle of equality between women and men in their constitutions and to end all forms of discrimination and violence against women.
“This is a strong and unequivocal signal of solidarity and support to women who are fighting in North Africa for freedom, democracy and universal human rights of men and women against all forms of discrimination and violence. As they explained, for them it is the same battle. We need to support and accompany this difficult transition and ensure their rights are recognised and protected in the constitution and in the legislation,” said Silvia Costa (S&D, IT), who drafted the resolution
This non-binding resolution was approved by a show of hands.
NAME: ALOZIE UCHE DANIEL
REG NO: 2019/245679
DEPARTMENT: ECONOMICS MAJOR
COURSE: UNDERSTANDING THE FUNDAMENTALS OF DEVELOPMENT.
COURSE: ECO 361
Assignment.
1.
1China and India are the giants of the emerging world. With more than a third of the world’s population between them, these two countries would have an immense effect on global trends even if they were not growing rapidly. But over the past 10 years, China and India have also been among the fastest growing economies in the world. Since 1995, average income in China has increased almost tenfold, while in India it has nearly quadrupled. Despite very different political and economic systems, both countries have lifted millions from poverty, while income inequality and environmental degradation have worsened. Given the scale of these changes, the emergence of India and China has had profound implications for the rest of the world.
But China and India have pursued very different development paths. China’s economic model has focused on gearing its manufacturing industries toward exports for the rest of the world. India has also become increasingly integrated with the rest of the world, though under its model, domestic demand and services have played a more important role. As this process has played out, China has become the workshop of the world.
The Third World emerged in the post-World War II era in international relations and conditions when the world was divided into opposite ideological blocs. During those days, the process of decolonization was at its zenith, as a result of which many Asian and African countries got independence, and they joined the international community as sovereign entities.
2.
Other means used to measure development by international standards are
1. Urbanization: It can be interpreted as the increasing proportion of the population living in urban areas compared to rural areas. Urbanization is said to not occur if population growth in urban areas is equal to zero. In accordance with the industrialization experience in Western European countries and North America, the proportion of the population in urban areas is directly proportional to the proportion of industrialization. This means that the speed of urbanization will increase in line with the fast pace of the industrialization process. In industrialized countries, the majority of the population lives in urban areas, while in developing countries the largest proportion lives in rural areas. Based on this phenomenon, urbanization is used as an indicator of development.
2. Human Development Index ( Human Development Index )
The United Nations Development Program (UNDP) has developed other development indicators, in addition to several existing indicators. The basic idea underlying this index is the importance of paying attention to the quality of human resources. According to UNDP, development should be aimed at developing human resources. In this understanding, development can be defined as a process that aims to develop options that can be made by humans. This is based on the assumption that improving the quality of human resources will be followed by the opening of various options and opportunities to determine the path of human life freely.
3.
1. Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
2. High population growth.
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
3. High rate of unemployment.
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
4. Dependence on primary sector.
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
5. Dependence on exports of primary products
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example copper two-third of Zambia’s export.
4.
As a budding Economist I agree,to this assertion.Although our human interconnectedness means that poverty affects everyone negatively, women and children stand at the centre of that injustice. Poverty, unless the imbalance is redressed, is handed down with each new generation inheriting the challenges and burdens of an unjust system. This Christmas, we can share the gift of hope and solidarity.
Across the globe, brave mothers are battling against the odds to bring their children into the world, protecting and nurturing them. Mothers like Bibi Aisha in Afghanistan and Ranjita in India.
1.There’s no doubt that the global balance of power has shifted east in recent years. The rise of India and China has fundamentally altered the modern world, whether that be politically, economically, demographically, or sociologically. Both nations, with their gigantic populations and extensive resources, now command yet again a level of worldwide influence not seen since the mid-19th century. And the rapid economic successes both achieved in recent history, China since 1978 and India since 1990, have helped to push Asia towards an unprecedented level of prosperity. People like to connect Asia’s massive growth in both productivity and living standards over the past 40 years with vague rhetorical points about globalization or the pending eradication of poverty. But that narrative misses out on the bigger story.
While many like to focus on the similarities between India and China, what’s more important are the differences. Most central to this article is that the two nations rely on entirely different systems of political economy. India is the world’s largest parliamentary democracy, while China is a one-party dictatorship. India’s reforms have scaled back state-run industries, while China’s reforms have created a pseudo-free-market command economy. India has courted the capitalist West while China has tried to counter it. Looking at how China and India have been simultaneously so successful yet maintained their differences can shed light on the “why.”
We’ll start with China. Once the Communist Party seized control in 1949 and declared the nation a People’s Republic, China embarked on a campaign of state-led industrialization that failed miserably. Mao Zedong’s most ambitious project was the “Great Leap Forward,” which attempted to develop China even faster than Stalin developed the USSR. The state collectivized agriculture and forced peasants to begin making steel in backyard furnaces. Lasting from 1958 to 1960, the Great Leap Forward led to the deaths of 45 million Chinese, mostly as a result of famine and disease. The “Cultural Revolution” from 1966 to 1976 resulted in huge political purges and a mass exodus of people from cities to the countryside. While countries like Japan, South Korea, Singapore, and Taiwan all began to approach Western living standards from the 1950’s to the 1970’s, China’s GDP per capita in 1978 was a meager $307 (measured in 2010 dollars). However, 1978 was also the year that Deng Xiaoping took control of the Communist Party and began creating modern China.
India’s independence from Britain in 1947, its economic history has largely been a troubled one. The first Prime Minister of India, Jawaharlal Nehru, steadfastly insisted on socialist economic policy. He and his successors created a vast array of highly inefficient state-owned enterprises affecting all major industries, including telecommunications, mining, and transportation. India suffered nothing as terrible as the Great Leap Forward, but its economy grew on average a meager 3.5% annually from the 1950’s to the 1980’s. Indian GDP per capita as a share of American GDP per capita even declined over the period. The government also instituted a currency peg that systematically overvalued the rupee, and exports struggled. Despite continuously peaceful transitions of power (save for “The Emergency” from 1975 to 1977 under Indira Gandhi), India endured significant economic stagnation.
2.Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.
Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.
Major updates for national accounts data occur every July and December. However data can be updated more often if countries revise their economic data monthly or quarterly, change methodology or coverage, or introduce new weights.
3.Major Characteristics of Developing Countries
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
4. Yes I agree. Poverty has the face of a woman in the sense that women and their children has highest percent of poverty effects on them.They are usually at the receiving end most of the time because of the nature of the their duties and responsibilities.
School: University of Nigeria Nsukka
Department: Social science education (Education/Economics)
Course: Development Economics I (Eco 361)
Name: Diugwu Salvation Nmesoma
Reg. No: 2019/242289
Lecturer: Dr. Tony Orji
Email address: salvationnmesoma65@gmail.com
(1.) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist discuss
Political ascent of other emerging nations, commonly referred to as the “third world,” has been significantly influenced by China and India, two of the greatest developing nations in the globe. Both countries have unique social and economic systems, which have shaped how they see foreign relations and their place in the world.
China has long been seen as a socialist and growing country leader due to its communist regime. In addition to advocating for a more fair allocation of resources and power in the international system, it has given aid and support to other nations in the Global South. China’s recent economic growth has also made it a significant player in the global economy, which has resulted in closer economic relations with other developing nations.
India, with its democratic and economic system, has contributed significantly to the rise of third-world nations in terms of politics. It has a history of representing the rights and interests of developing nations at international fora, as well as taking the lead in the Non-Aligned Movement, which encourages collaboration and solidarity among developing nations. India’s recent rapid economic development has made it a prominent role in the world economy and strengthened its links with other emerging nations.
Overall, China and India have both had a significant impact on the political rise of developing nations and the evolution of their ties with industrialized, capitalist, and communist nations.
(2). Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. discuss
Traditionally, developing nations are classified based on their annual Gross National Income (GNI) per capita. Based on their GNI per capita, the World Bank divides nations into low-income, lower-middle-income, upper-middle-income, and high-income categories. Lower-middle-income nations have a GNI per capita between $1,026 and $4,035; upper-middle-income nations have a GNI per capita between $4,036 and $12,475; and high-income nations have a GNI per capita of $12,476 or more. This categorization is used to assess a nation’s economic progress and to spot those who might need more help if they want to attain sustainable development.
However, Different standards and indicators for measuring progress and underdevelopment have been created by the United Nations, World Bank, and other Bretton Woods organizations. These include metrics like the Multidimensional Poverty Index (MPI), the Human Development Index (HDI), and the Gender Development Index (GDI) (MPI).
The value of all products and services generated in a nation is measured by its GDP. The HDI combines indices for standard of living, health, and education to give a measurement of a nation’s total human development. Gender-based disparities in these same domains are measured by GDI. To quantify poverty in a comprehensive manner, MPI takes into consideration a number of variables, such as health, education, and living conditions.
1. GROSS DOMESTIC PRODUCT (GDP) PER CAPITA: This statistic gauges a nation’s economic success on an individual level. A greater standard of life is typically associated with a higher GDP per capita.
2. THE HUMAN DEVELOPMENT INDEX (HDI) is a composite metric that considers variables including income, education, and life expectancy. High HDI nations are seen as being more developed.
3. THE POVERTY RATE is a measurement of the proportion of a nation’s population that is living in poverty. High rates of poverty are indicative of less developed nations.
4. GENDER DEVELOPMENT INDEX (GDI): The gender-based disparities in human development are measured by the Gender Development Index (GDI). Gender inequality is believed to be worse in nations with low GDI.
5. MULTIDIMENSIONAL POVERTY INDEX (MPI):The Multidimensional Poverty Index (MPI) measures poverty by taking into account a number of factors, such as living conditions, health, and education. High MPI nations are thought to have greater levels of poverty.
Indicators for particular areas like income inequality, access to clean water, and access to power are available in addition to these metrics. These metrics are used to evaluate a nation’s progress in reaching the 17 Sustainable Development Goals (SDGs) of the United Nations, which include eradicating poverty, safeguarding the environment, and ensuring that all people live in peace and prosperity.
Overall, because they give a complete view of a nation’s economic, social, and environmental well-being, these criteria and indicators are crucial instruments for gauging progress and underdevelopment.
(3.) Clearly discuss and analyse the Common Characteristics of Developing Nations.
1. LOW PER CAPITA INCOME: When compared to rich countries, developing countries often have lower average income levels. As a result, there are high rates of poverty and insufficient funds for social services including healthcare, education, and welfare. When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty.
2. AGRICULTURE-BASED ECONOMIES: Agriculture is a major source of revenue and employment in many developing countries. They may become more susceptible as a result of variations in agricultural prices and climate change. In developing countries, especially in rural regions, the majority of people work in agriculture. In some countries, agriculture is the only industry that provides work and revenue. Additionally, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly.
3. LACK OF INFRASTRUCTURE: Developing countries frequently lack basic infrastructure, including insufficient electricity, transportation, and communication networks. This may hinder economic expansion and make it challenging for companies to function. In developing countries, infrastructure is not properly developed, including the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Additionally, constructed infrastructure is poorly managed and not allocated in an effective and equitable manner. This has put these countries’ ability to develop at risk.
4. HIGH DEGREES OF CORRUPTION: High levels of corruption are common in developing countries, which can slow economic growth and deter foreign investment.
5. DEPENDENCE ON FOREIGN AID: Developing countries depend heavily on aid from other countries to survive and develop, which leaves them open to the political and economic whims of donors.
6. HIGH POVERTY RATE: The percentage of the population in developing nations that lives in poverty is known as the high poverty rate. Access to fundamental services like healthcare, education, and other necessities is frequently to blame for this. The majority of people in developing countries have been affected by the issue of poverty. Even their most basic requirements cannot be met. The issue of poverty is also reflected in the low per capita in emerging countries. So, in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access.
7. LOW LIFE EXPECTANCY: Developing nations have low life expectancies, which are frequently caused by poor living circumstances and a lack of access to healthcare.
8. HIGH RATE OF ILLITERACY: The percentage of the population who are unable to read or write is high in developing nations. Lack of access to education is frequently to blame for this.
9. ENVIRONMENTAL DETERIORATION: Developing countries frequently experience high levels of environmental deterioration, which can be brought on by excessive exploitation of natural resources and a lack of environmental laws.
10. The productivity of factors is similarly poor in undeveloped countries. This is a result of a lack of funding and administrative expertise needed to acquire breakthrough technology and policies and manage them successfully. Lower productivity in developing countries is ascribed to a variety of causes, including malnutrition, inadequate access to healthcare, a strong social support network, living in an unsanitary environment, employees’ bad health and stressful work environments, etc.
11. HIGH CONSUMPTION AND LOW SAVING: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help.
(4.) It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
The term “feminization of poverty” refers to the phenomena where women make up a disproportionately large fraction of the world’s impoverished. This tendency is a result of both a lack of income and possibilities because of established gender norms and gender prejudice in some communities. Due to the idea that women should be in charge of childrearing and parenting, gender prejudices sometimes deny women the chance to pursue education or jobs on their own. The rise in the number of lone mother homes is tied to the growing proportion of women living in poverty.
The argument that poverty has the face of a woman is true. This is due to a variety of factors such as discrimination in the workforce, lack of access to education and resources, and societal expectations and norms that limit women’s opportunities. Additionally, women often bear the primary responsibility for caring for children and elderly family members, which can make it difficult for them to work and earn a stable income. As a result, women are more likely to live in poverty and have less financial security than men.
Although poor income is the main factor contributing to female poverty, there are other interconnected causes of this issue. Women’s access to basic necessities like food and shelter as well as their potential for progress are restricted by a lack of cash.Women’s lifelong earning potential is decreased since they lack access to healthcare and basic education due to their disproportionately lower income than males. Motherhood’s obligations place further restrictions on women’s economic advancement. The homes most at danger of poverty are those headed by lone mothers or without a guardian or second parent. The likelihood of poverty is highest in female-headed families (when no male is present) since there are fewer family income providers. Lone mother families are related to concerns of gender inequality since women are more prone to poverty and lack basic necessities than males.
Women who live in poverty have less access to healthcare resources and services. Women suffer from poor health outcomes disproportionately, in part because of the cost of childbirth. Poor health made it harder for women to make a living, which is a major contributor to the growth and maintenance of family poverty. Therefore, expanding health care to women might reduce how feminized poverty is. Greater chances for women to escape poverty and advance in society can be created through educating women and children, especially girls. Women’s access to fundamental education is restricted in nations with severe gender discrimination and social hierarchy. Even within the family, females’ education is sometimes neglected so that their brothers can go to school.
Women throughout the world have few employment options. Due to their uneven access to lucrative and satisfying employment options, women are frequently unable to materially manage their surroundings. There are official and informal vocations in the workforce. Government regulation governs formal employment, and employees are guaranteed a pay and specific rights. In tiny, unregistered businesses, there is informal employment. Since so many women work in unorganized settings, there is less control over how they are employed. Women find it more challenging to handle workplace complaints and guarantee safe and legal working conditions as a result.
1.)The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and Sri Lanka discussed peace, role of the Third World, economic development, and decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the emergence of third world free from evils of capitalism and communism. Thus, the concept of the Third World was born. Communist China was one of the countries participating as the Third World Country rather than the Russian Soviet orbit. The 1955 Bandung Conference was the first attempt at the creation and establishment of a third force in global politics. The term Third World was adopted to refer to a self-defining group of non-aligned states. The Bandung Conference played an important role in mobilizing the counter-hegemonic forces to be known as the Third World. There were other priority areas as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via the United Nation .The conference also emphasis on the issues of increased cultural and technical cooperation between African and Asian governments along with the establishment for an economic development fund .It also raised its voice for the required support for human rights and the self-determinations of peoples and nations by the world community and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind of perspective the international politics marked the emergence of a non-aligned bloc from the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the bandung spirit is not detachment from the powerful Western countries, but non-aligned self helped organization against the powerful countries.
The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The 1961 Belgrade Non-Aligned Summit conference established an alternative platform for negotiating the diplomatic solidarity of countries which saw an advantage in advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to the next, the principle issues centered on problems of economic development, emerging due to intense uncertainty in the global economy.
The 1960s and 70s, marked the great age of Third World rhetoric of common cause and common action.A significant event was the 1966 Tri-continental Conference of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from across Asia, the Middle East, Africa and Latin America. This conference called for an increasingly radical anti-imperial agenda. During the 1970s, the collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from the Group of 77 (G77), which had been created at the first United Nations Conference on Trade and Development (UNCTAD) meeting held in 1964.
2.)Other criteria and indicators for measuring development and under development developed by the United Nations, World Bank and other Bretton Woods Institutions:
* The HDI is a composite statistic calculated from the:
Life expectancy index
Education index
Mean years of schooling index
Expected years of schooling index
Income index
Countries are ranked based on their score and split into categories that suggest how well developed they are.
* The Human Poverty Index(HPI); complements the HDI as it is an indication of the standard of living in an economy. It considers the level of poverty and deprivation of a community in a country. The HPI uses two indices:
The HPI-1 is used to measure developing countries.
The HPI-2 is used for developed countries that are part of the Organization for Economic Co-operation and Development (OECD).
The HPI has limited utility as it combines the average deprivation levels of each dimension and it can’t be linked to any particular group of people.
* The Genuine Progress Indicator(GPI) ; builds off GDP as an economic indicator by including measures of the impact of economic growth on the environment as well as various social factors. The GPI takes GDP into consideration while also measuring the negative impacts of growth.
3.)Major Characteristics of Developing Countries.
* Low Per Capita Real Income:
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
* Mass Poverty:
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
* Rapid Population Growth:
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
* The Problem of Unemployment and Underemployment:
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
* Excessive Dependence on Agriculture:
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
* Technological Backwardness:
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
* Dualistic Economy:
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy. * Lack of Infrastructures:
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
4.)Poverty has a woman’s face:
I propose the motion poverty has a woman’s face. Studies, and even just observation, frequently highlight women’s disproportionately high representation among the country’s poor. As Dr Mahbub ul Haq once put it, “Women have been reduced to economic nonentities.” and that’s no joke.Globally, poverty remains a challenge: the World Bank estimates that 1.29 billion people live in absolute poverty; the sad fact is that about 70 per cent of them are women.Poverty is difficult to quantify: the methodology used by the government has been challenged by the World Bank and the UNDP, while independent organisations consider poverty to be above 28.3pc.Gender discriminatory practices shape poverty: as expected, more women are at the suffering end. They suffer poverty of opportunities far more than men. Poverty gives rise to social powerlessness and political disenfranchisement, and these add to the vulnerability of the poor. The reasons for such high poverty levels are several: corruption, illicit capital flight, debt and loan conditionalities, high defence expenditures, and now, extremism. Those are the general ones. To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income. The risks of increasing poverty grow in parallel with the number of women-headed households. Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment. It is no surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.
Unsurprisingly, few poor women have hope of escaping this poverty as there are so many odds stacked against them. Despite laws that favour them, even richer women are regularly denied land inheritance by emotional coercion, forced marriage and even by ‘marriage’ to the Quran.The current political situation prevailing in the country presents a mixed picture for women’s progress and development. There’s also society’s stubbornly ‘eyes shut’ attitude to women’s rights and progress, the lack of recognition that women’s progress requires an acceptance of their constitutionally guaranteed equal status as citizens of this country.
If women are to progress and participate effectively in the economy, they must receive equal education, equal training, in rural and urban sectors and equal dignity and income.
Appolos sopuruchukwu bethel
Economics
300l
2019/244006
1. The core principles of the Bandung Conference were political self-determination, mutual respect for sovereignty, non-aggression, non-interference in internal affairs, and equality. These issues were of central importance to all participants in the conference, most of which had recently emerged from colonial rule. The governments of Burma, India, Indonesia, Pakistan and Sri Lanka co-sponsored the Bandung Conference, and they brought together an additional twenty-four nations from Asia, Africa and the Middle East. Because the decolonization process was still ongoing, the delegates at the conference took it upon themselves to speak for other colonized peoples (especially in Africa) that had not yet established independent governments. The delegates built upon the Five Principles of Peaceful Coexistence, worked out in negotiations between India and China in 1954, as they sought to build solidarity among recently independent nations.
2. Other criteria and indicators for measuring development and under development as developed by the UN and WB are;
A.Total nominal Gross Domestic Product
B.The percentage of people living on less than $1.25 a day
C.The percentage of people living below the poverty line within a country.
D.The unemployment rate.
E.The Human Development Index score
F.Progress towards the Sustainable Development Goals (overlaps with many other aspects)
G. School enrollment ratios
H.PISA educational achievement rankings
I. Percentage of population in tertiary education.
J.The infant mortality rate.
K.Healthy life expectancy
L.The gender inequality index
M.The global peace index
N. Total military expenditure
O. Carbon Dioxide emissions
P. The corruption index
Q. The Happiness Index.
3. Characteristics of developing Nations or countries
a. Low levels of productivity
b. High rate if population growth and dependency burden
C. Traditional rural and social structures
d. Wide spread of poverty
e. Prevalence of imperfect markets
f. Dependence and vulnerability ( exposed to danger or attack)
g. Poor human capital development
h. High and rising levels of unemployment and under employment
4. Poverty having a woman face means that Gender inequality is a major cause and effect of poverty. An estimated one in three women, experience gender-based violence in their lifetime and women are statistically more likely to live in extreme poverty than men. It is simply not right that millions of women are disproportionately affected by poverty, discrimination and violence
a I agree to this because, women have a higher incidence of poverty than men, and their poverty is more severe than that of men and that poverty among women is on the increase.
.
NAME: CHUKWUKAODINAKA JOHN OLUCHUKWU
REG NO: 2019/245518
DEPARTMENT: ECONOMICS
Q1. As a result of decolonization, the UN at first numerically dominated by Europe communities and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, through the essentially academic debate. Despite that debate, the unity of the third world remain hypotheticallybpressed mainly from the platforms of international conference.
Q2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.
The criteria by UN takes into consideration of development indicators like Human development Index(HDI),and Human poverty Index (HPI). According to UN,Countries with high HDI are developed while countries with low HDI are less developed. Also,countries with low HPI are developed,while countries with high HPI are less developed.
Q3. Low level of living: this simply means that a segment of the population of a country does not have adequate access to much wealth and basic services and amenities necessary for living, lack of food, shelter, clothing etc.
Low levels of productivity: this means that resources are not being used to their highest and fulest capacity, that is they are not utilizing their skills and competences to their maximum potential which in turn increases a company’s resources costs.
High rate of population growth: this occurs when the population of an economy or country exceeds the available resources to sustain and neet the basic need of the citizens in that economy.
Traditional and rural social structure: traditional structures can hinder development due to lack of urbanization and acceptance of new innovations and ideas for the improvement of that particular region or economy.
Wide spread poverty: this occurs when most regions in an economy are extremely poor occuring in most individuals. This state of poverty reduces the level of living making life extremely hard and un sustainable for individuals in those regions of the economy.
Substancial dependence on agriculture: this implies to over dependence on agriculture mainly for consumption and not for commercial purposes. Even exporting of only agricultural products can limit a country’s development.
Feeding the government: when the government extorts its citizens and uses the money for their own personal gain it leads to under development. Not meeting the need of the people by providing good roads, jobs, Infrastructure etc, leading to low level of living in the lives of the individuals in the economy.
Increase in unemployment: this occurs when the number of youths in the economy are without jobs, this may lead to increase in crime thus hinders Development in that economy.
(4) I agree with the argument that ‘poverty has the face of a woman’. This is because in the society,it is known that men are born to provide for and protect there family, while the women are meant to support the husband. In the course of providing for a family or an individual need,the father or male does it better since it is more like a natural responsibility of all men. The woman in the other hand might find it hard in performing this function especially when she is acting as single mother. This is evident in the society. Most women after losing there husband finds life hard while being the bread winner of the family. They get affected mentally, physically and even emotionally,in some cases they end up losing their life due to the pressure and pain they go through.
Another point is that, the society in most cases is unfair to the women. They are not given access to many Social activities such as Education, leadership etc that will bring out there innate ability. This impedes them from being able to function adequately in the course of fending for themselves. They are been made to depend solely on men which in most cases are there husband, for there survival.
Though it is not right to use the face of a woman to liken poverty,but it is also important to know that women are affected by poverty the most in the society than their male counterparts.
NAME: MADUKA CHINAZOM DIVINE-GIFT
REG NO: 2019/245033
DEPARTMENT: ECONOMICS/ PHILOSOPHY
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
During the Cold War, the term “Third World” was coined to describe countries that refused to join NATO or the Warsaw Pact. The “First World” was represented by the United States, Canada, Japan, South Korea, Western European nations, and their allies, while the “Second World” was represented by the Soviet Union, China, Cuba, North Korea, Vietnam, and their allies.
China has helped third-world countries develop their economies and advocate for the creation of a new international economic order, earning their trust and support. As a result, many countries in the Third World established diplomatic relations with China. Twenty-six African countries established diplomatic relations with China. China also established diplomatic relations with 13 Latin American countries, including Chile, Mexico, Argentina, Venezuela, and Brazil, marking a breakthrough in its relations with the region. China established diplomatic relations with Malaysia, Thailand, the Philippines, Bangladesh, and the Maldives in Southeast Asia and South Asia, seven countries in West Asia and the Middle East, including Iran, Turkey, and Kuwait, and five countries in the South Pacific, including Fiji and Papua New Guinea. The development of diplomatic ties between China and numerous developing nations was accompanied by frequent visits between the leaders of these nations and China, which significantly aided in the steady expansion of ties between China and other third-world nations. China had established diplomatic ties with 120 nations by the end of 1979. China had allies on the five continents, and its standing internationally grew to unprecedented heights.
INDIA: According to some, the twenty-first century is the Asian age, ruled by China and India. India is also having to reevaluate its position in light of the end of the Cold War and the growing effects of globalization.and function both on a regional and international scale. India’s presence in the world has steadily grown since economic liberalization in the 1990s, which resulted in growth rates of 6-7 percent annually. India’s rise is being shaped by two factors: the political benefit it has gained from being the largest democracy in the world and its expanding economic status, which, according to projections, will cause it to emerge, alongside China, as a major future economic driver.India, the recognized leader of the South, is expanding beyond that position to take on a more significant global role. Both the US and the European Union (EU) have endorsed this development in their respective Strategiccollaborations with India.
India’s Foreign Policy Measures to Strengthen Its Role in International Politics.
According to some Indian analysts, the BJP-led government’s decision to conduct nuclear tests in 1998 propelled India into the spotlight on a global scale and into the upper echelons of the major powers. There has been a new confidence since the nuclear tests in
Foreign policy in India. Not that the succeeding Indian governments have abandoned the Nehruvian interpretation of international affairs. Nehru promoted lofty ideals and a positive self-image, but there is also a newly discovered pragmatism and confidence. India aims to project itself not only through words and ideals but also as a rising economic power that has experienced consistent growth of 7-8 percent over the past few years. More importantly, India is gradually shifting from the old argument, which is to increase economic and political power, to the new argument, which is the power of the idea.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
We can examine various facets of domestic and international economic activity using the indicators found in the Economy section. Economic indicators track levels and changes in the size and structure of various economies and pinpoint expansions and contractions as countries produce goods and services and either consume them domestically or trade them internationally.
Economic indicators include measurements of macroeconomic stability and performance, such as gross domestic product (GDP), consumption, investment, and international trade (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings that have been adjusted for resource depletion, pollution, and depreciation. In order to monitor progress toward SDG Goal 2, which promotes sustainable consumption and production, and Goal 8, which promotes decent work and economic growth, numerous economic indicators from WDI are used.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Low Per Capita Real Income
One of the most distinguishing features of developing economies is a low real per capita income. Their low real per capita income level causes them to have little saved and invested.
It indicates that the typical worker doesn’t make enough money to save or invest. They spend everything they earn. As a result, the majority of the population struggles to break out of the poverty cycle it creates. In developing nations, a large proportion of people live in absolute poverty, or the lowest possible income level.
High Population Growth Rate
Having a large population or experiencing rapid population growth is another trait shared by developing nations. This occurs frequently due to a lack of family planning options and the perception that having more children would increase the family’s ability to support itself financially. This growth in recent decades may be attributable to higher birth rates and declining death rates as a result of better healthcare.
High Rates of Unemployment
Large seasonal variations in unemployment are a problem in rural areas. However, unemployment is a more complicated issue that calls for solutions that go beyond conventional solutions.
Dependence on Primary Sector
In low-income nations, the majority of people live in rural areas. The demand structure changes as income levels rise, which causes a rise in the manufacturing sector first and then the services sector.
Dependence on Exports of Primary Commodities
Since the primary sector accounts for a sizable portion of output, it also accounts for a sizable portion of exports. For instance, two-thirds of Zambia’s exports are copper.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?.
Yes, poverty does have the face of a woman. The adage “poverty has the face of a woman” is a metaphor for how society views women as being concerned with all of life’s issues. It is true that poverty often takes the form of a woman, as we have observed in many of our communities. Both men and women are responsible for taking care of the family and making sure the kids have access to healthy food, shelter, and other necessities. However, where there is poverty, women frequently take the lead.. The father is portrayed as a formidable figure who you should avoid approaching unless it is an extremely serious matter. In many African communities, the women of the family are responsible for maintaining the home, caring for the young, the elderly, and the sick. Because they have been taught that it is their duty to provide food, children now turn to their mothers, grandmothers, or aunts when they are hungry. This social construction, in my opinion, is what has put the onus on the woman. In my opinion, gender parity is the answer, as it teaches kids that both parents are equally responsible for supporting the family and that you can approach either of them on an equal footing. Women are going through a silent crisis that weakens and deteriorates their situation. Prior to the financial crisis, precarious employment, low wages, and unemployment. Women have already been more impacted than men by salaries and slow career paths. They are currently being punished twice as a result of austerity measures.
The reduction of education, childcare, and care services has forced women to work fewer hours or part-time, which has had a negative impact on both their income and pensions. Gender stereotypes persist in the labor market in industries like engineering and childcare, which causes occupational segregation and the gender pay gap. They also play a role in the feminization of poverty. Stereotypes and lower pay make it more likely for women to live in poverty, especially older women who also have lower pensions.
1. China and India had a very loud leadership presence in The conference was organized to promote the highest aspirations of the peoples of Asia and Africa; that is, positive life chances for the disadvantaged nations of the international community. These ambitions were to be further channeled into an articulate and coherent ‘third force’ in a world supposedly frozen into two camps by the Cold War. …The one underlying theme that ran through the economic, cultural, and political objectives of the conference was a sense among the members, irrespective of their ideological orientation, that they would not be trapped with their experiences as ‘dependents’ or appendages of colonialism. This was clearly expressed in the conference’s universal declaration that ‘colonialism in all its manifestations is an evil which should speedily be brought to an end’. Essentially, the spirit of the conference hinged on the determination of the member states to preserve their newly won freedoms and to reach out for more through their persistent opposition to colonialism and imperialism, as well as through a systematic attempt to advance the economic well-being of the people they represented, thereby questioning the essence of the UN (1997: 39–40).
2. (i) Human Development Index (HAI)
~Rationale:
The HDI is a measure of level of human capital. Low levels of human assets indicate major structural impediments to sustainable development. A lower HAI represents a lower development of human capital
~Thresholds:
Since 2015 the CDP uses absolute thresholds for the HDI to determine inclusion and graduation eligibility. The inclusion threshold has been set at 60. The graduation threshold has been set at 10 per cent above the inclusion threshold at 66
~Composition:
The HAI is composed of six indicators grouped into a health and education subindex with each indicator carrying an equal weight of 1/6. Original values for each HDI indicator are converted into index numbers using a max-min procedure.
(ii) Economic and Environmental Vulnerability Index (EVI):
~Rationale:
The EVI is a measure of structural vulnerability to economic and environmental shocks.High vulnerability indicates major structural impediments to sustainable development. A higher EVI represents a higher economic vulnerability
~Thresholds:
Since 2015 the CDP uses absolute thresholds for the EVI to determine inclusion and graduation eligibility. The inclusion threshold has been set at 36. The graduation threshold has been set at 10 per cent below the inclusion threshold at 32
~Composition:
The EVI is composed of eight indicators, grouped into an economic and environmental subindex with each indicator carrying an equal weight of 1/8. Original values for each EVI indicator are converted into index numbers using a max-min procedure.
3. A. Low Per Capita Real Income:
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments. It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
B. High Population Growth Rate:
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
C. High Rates of Unemployment:
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
D. Dependence on Primary Sector:
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
E. Dependence on Exports of Primary Commodities:
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary.
4. It’s true that poverty has a women’s face and these are why: we have seen this in many of our communities. Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure hwo you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
Anyanwu Paschal Ositadinma
2019/244008
Economics
1. As a result of decolonization, the United Nations, which was initially numerically dominated by countries of European descent, gradually evolved into a sort of forum for developing nations. The issue of underdevelopment then came to the forefront of an ongoing, albeit primarily scholarly discussion with increasing intensity. Despite this argument, the third world’s unity is still primarily expressed on the stages of international conferences.
2. High birth rates, high infant mortality, undernourishment, a sizable agricultural and small industrial sector, low per capita GDP, high levels of illiteracy, and short life expectancies are all signs of underdevelopment.
Here are three human development indicators that are taken into account by the HDI are: per capita income, education, and life expectancy.
3.They are:
a. Low per capita real income;
b. Mass poverty;
c rapid population growth;
d. the issue of unemployment and underemployment;
e. an excessive reliance on agriculture;
f. technological backwardness;
g. dualistic economy; and
h. a lack of infrastructure.
4. Poverty does not have a woman or feminine face. Why?
Men think women should be looked after because they don’t think they can have a beneficial impact on the nation, but in actuality, women are innovative.
Since a woman is attractive by virtue of her inherent gifts, personality traits, and physical attributes, poverty should also be appealing—but it isn’t. So I reject. We say nay.
NAME: ELEKWACHI JOHN UDOCHUKWU
REG NUMBER: 2019/241890
DEPARTMENT: ECONOMICS/PHILOSOPHY (CSS)
COURSE: ECO. 361 Online Quiz/Discussion-20/1/2023 (Developing Country Issues)
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
ANSWER NO. (1)
The Third World, the identifiable bloc of nation-states from the underdeveloped areas of Latin America, Asia, and Africa, was usually said to have resulted from the Cold War between the Free World and the Communist World, the former led by the United States and the latter by the Soviet Union, that started soon after the end of the Second World War. The Cold War did not actually turn hot between them, but was waged by their proxies in the Third World.
It was the Third World, therefore, that bore the brunt and paid the price in lives, blood, and destruction of the conflict. The Third World was the booty of the Cold War.
But the origins of the Third World need to be located further into the nineteenth century, the century of the explosion of the fires ofrevolution, ofthe growth and spread of the economic system of capitalism, and of the expansion of Westerm empires. For the countries that will constitute the Third World, however, it was a century of economic exploitation, political oppression, and cultural subjugation. But it was also a century of the first stirings of national identity and pride, of the nascent longings for independence and self-determination that would fight to the death imperial power. The Third World arose from the ruins of empire.
To concentrate on the first setting and to ignore or even to minimize the importance of the latter context is to miss the heart that is at the pulsing center of the Third World. It is to misdiagnose the ills – economic, social, political, and cultural – that continue to plague the societies of the Third World. It is to misjudge the unfulfilled longings and aspirations, the continued travail and turmoil of the peoples of the Third World.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
ANSWER NO. (2)
• Developed and Developing Countries: Countries are divided into two major categories by the United Nations, which are developed countries and developing countries. The classification of countries is based on the economic status such as GDP, GNP, per capita income, industrialization, the standard of living, etc. Developed Countries refers to the soverign state, whose economy has highly progressed and possesses great technological infrastructure, as compared to other nations.
• The countries with low industrialization and low human development index are termed as developing countries.
• After a thorough research on the two, we have compiled the difference between developed countries and developing countries considering various parameters, in tabular form.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Common Characteristies of Developing Nations
ANSWER NO. (3)
• Low levels of living – Low level of living is one of the characteristics that display a developing country, it is a country that it’s citizen are denied some basic daily needs like water, shelter and food.
• Low levels of productivity – this happens when a country is unable to use of manage her available resources well, this is caused by inadequate management, stealing of resources, laziness from the citizens of a country, and this will result to low productivity.
• High rates of population growth and dependency burdens – The high rate of population growth is affecting developing countries more because there is no birth check laws, some developed countries has a law that rule over the birth rate of her citizens, and this will make them to know and manage their resources and produce what their country rely on, which will reduce the level of dependency to other nations
• High and rising levels of unemployment and underemployment – There are a number of reasons for unemployment. These include recessions, depressions, technological improvements, job outsourcing, and voluntarily leaving one job to find another and this is more seen in a developing country.
• Traditional, rural social structures – Widespread poverty.Residents in rural areas are deeply affected by the real and inescapable effects of new images and life-styles – for example in India
• Prevalence of imperfect markets – An imperfect market is an environment in which all parties do not have complete information, and in which participants can influence prices, which is mostly found in developing countries
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
ANSWER NO. (4)
• I agreed
• Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment.
• To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture.
2. Nations are typically characterized by economic status and key economic metrics like gross domestic product (GDP), GDP growth, GDP per capita, employment growth, and an unemployment rate. In developing countries, low production rates and struggling labor market characteristics are usually paired with relatively low levels of education, poor infrastructure, improper sanitation, limited access to health care, and lower costs of living. The World Development Indicators is a compilation of relevant, high-quality, and internationally comparable statistics about global development and the fight against poverty.
3. Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on.
“Poverty has a woman’s face”. A quote made by Tahira Abdullah, which implies that; Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture. I do agree that poverty as the face of a woman because poverty is multi faceted and interrelated to the other problems in an economy, like a woman who is always an easy target for wars, insurgency and also easily deprived of certain access, poverty leaves you vulnerable and open for attack.
Ugah Chikaodili Udodili
2019/243002
Department of Economics
1. As a result of the decolonization, the United nation at first numerically dominated by European countries and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then become the focus of a permanent although essentially academic debate. Despite that debate, the unity of the 3rd world remains hypothetical expressed mainly from the platforms of international conference.
2. Indicators of underdevelopment include: high birth rates, high infant mortality, undernourishment, a large agricultural and small industrial sector, low per capita GDP, high levels of illiteracy, and low life expectancy. The HDI considers three indicators of human development, namely, life expectancy, education, and per capita income.
3.They are:
a. Low Per Capita Real Income
b. Mass Poverty
c. Rapid Population Growth
d.The Problem of Unemployment and Underemployment. …
e.Excessive Dependence on Agriculture. …
f. Technological Backwardness
g. Dualistic Economy
h. Lack of Infrastructures
4. No, poverty doesn’t have the face of a woman. Why?
Because men believe that women should be taken cared of
because they think women can’t make positive impacts in the
country but in actual reality, women are creative.
The natural endowments, characteristics and physical properties of a
woman are naturally attractive, then if poverty has the face of a woman
this means poverty is attractive but it is not. So I say no.
1. China was affected by overpopulation so was India and India was also one of the poorest countries. They worked on their socio-political sphere, which led to a change in the both countries. China invested in industrial activities while India invested in human capital that helped the countries become developed.
2. Production level
Educational attainment
Life expectancy
Level of illiteracy
Standard of living
Purchasing power of individual
3. Low levels of living: in a developing nation, there is low level of living, half of the population do not have access to the basic and social amenities.
Widespread poverty: involves a relatively permanent insufficiency of means to secure basic needs.
High rate of population growth and dependency burden: as the population increases, the level of dependency increases whereas those who are economically active and the economy itself are burdened to provide social services for those are economically dependent.
Low level of productivity: Low productivity indicates that resources are not utilizing their skills and competencies to their maximum potential which increases company’s resourcing cost.
4. Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture.
Ogbonna Mmesoma Rita
Economics/Education
2019/243578
1.What is Scientific Research?
Scientific research refers to research that collects data using systemic methods and strategies. There is a scientific and systemic basis in the collection of data, interpretation, and evaluation of data. When conducting scientific research, the researcher should plan the research and specify the methodology. According to the techniques used in data collection, scientific research can be classified into different categories as observational and experimental.
Scientific research operates at two levels. One level is the theoretical level, and the other is the empirical level. At the theoretical level, concepts are developed, especially concepts related to social and natural phenomena. At the empirical level, theoretical concepts and relationships are tested. There are two forms of scientific research: inductive and deductive. This depends on the researcher’s training and interest. In inductive research, the researcher gathers theoretical concepts from observed data, while in deductive research, the researcher tests concepts and patterns of the theory using new empirical data.
What is Non-Scientific Research?
Non-scientific research is research conducted without any systematic methods and scientific basis. In non-scientific research, intuition, personal experience, and personal beliefs are used as techniques to reach a conclusion. Thus, conclusions in non-scientific research are basically based on personal thinking and presumption.
In non-scientific research, logical and systematics methods are not used in analyzing data. Non-scientific research simply gives a solution for a certain problem. It does not focus on other activities or recommendations for that particular problem. Moreover, it does not use a logical or organized procedure to form the conclusion.
What is the Difference Between Scientific and Non-Scientific Research?
Although both scientific and non-scientific research are used in collecting data, they follow different methods and procedures. The key difference between scientific and non-scientific research is that scientific research can be repeated several times using the same methods and data, whereas non-scientific research cannot be repeated since it uses intuition, personal experience, and personal beliefs.
Moreover, in scientific research, data is collected using different techniques such as observation, formulation, and testing hypotheses. On the other hand, in non-scientific research, data collection only uses observation. Besides, scientific research follows a logical and systematic process in arriving at a conclusion but, in non-scientific research, only the beliefs and expectations of people are considered in arriving at a conclusion. Furthermore, non-scientific research does not follow any logical, scientific, or systematic method. Thus, this is another major difference between scientific and non-scientific research. In addition, scientific research is objective, while non-scientific research is subjective. Scientific research uses a logical process in conducting the research and formulating the conclusion, whereas non-scientific research uses techniques and strategies that are not based on the scientific method in acquiring knowledge and arriving at a conclusion. The key difference between scientific and non-scientific research is that scientific research can be repeated several times using the same methods and data, whereas non-scientific research cannot be repeated since it uses intuition, personal experience, and personal beliefs.
This exercise could give further practices in differenting scientific research and different types of non- scientific research
# Daniel decided to test one of his hypotheses about how temperature is affecting the growth of his new plants. In order to do so, he performed experiments where he stored the plants at different temperatures and observed how they reacted. Daniel recorded his observations and determined that a mild temperature was best for this specific plant. Did Daniel use scientific methodology or nonscientific methodology? Now daniel used scientific methodology as he tested his hypothesis by performing an experiment. He recorded his observations and formed a conclusion based on the results of his experiment. In this instance, he was following the scientific method.
# In the past, Deborah has taken many vacations to Florida. During her last trip, she was bitten by many mosquitoes. When Deborah’s family decided to take an impromptu trip to Florida during spring break, she insisted that her husband stop to get bug spray on the way because she believed she would get bitten again. What type of non-scientific research is this related to: intuition, personal experience, or logic?This scenario represents personal experience. Deborah may not be bitten by a mosquito during this trip, so it isn’t necessarily a fact, or guaranteed, to happen. However, since she has previously been bitten by mosquitoes, she bases her decisions on these experiences.
# Taylor was hiking with his friends in a remote area of Colorado. He was getting ready to cross a small hanging bridge over a ravine when he got the feeling that something wasn’t right. He decided to return to the beginning of the hike instead of continuing across the bridge. Hours later the bridge snapped and a hiker plummeted into the river below. What type of nonscientific research is this related to: intuition, personal experience, or logic?This scenario represents intuition. John had a “gut feeling” that the bridge was not safe and decided to turn back. There was no reason or scientific support for him turning around, but rather his instincts, that is non-scientific!
2 .The characteristics of scientific research are:
*Purposeful (Aim)
*Controlled
*Rigorous
*Critical
*Validity
*Empirical
*Logical and Objective
*Systematic
2. Empirical
A cardinal feature of a scientific research work is that it is empirical. Simply put, this means that it can be verifiable. Thus for a work to qualify as a scientific work, persons should be able to verify the truth or otherwise of the said research work. Thus with a knowledge of the materials and tools used by the original research and an understanding of the research procedure, any third party with the requisite knowledge should be able to verify the said research work. It is only when such research work is verified and the results are seen to confirm with the original objectives and statements of the researcher that it may be correctly termed as a scientific research. Where a work cannot be verified with credible facts, evidence or materials, it cannot be said to qualify as a scientific research.
@ Objectivity
All scientific knowledge are objective as opposed to being subjective. This simply means that they are considered from the general perspective as opposed to being considered from the personal perspective. The purpose of a research work is usually to solve a problem or give explanation to a problem. This makes it very important for such work to be conducted from an objective point of view. Also, a work will get easily verified and serve the general public more easily when it is conducted objectively. A research work bearing and carrying the personal positions, feelings, untested ideas and idiosyncrasies of a researcher cannot thus qualify as a scientific research.
@ Controlled
All scientific research works are usually examined under a controlled environment. This allows for specific variables to be known as the knowledge of these variables allow for ease of repeating the said research work. All of the controlled variables must be made known so that a person who wishes to carry on the research can do so and attain a very similar result.
@ Objective: all scientific research works have a specific objective or goal as the end result in the mind of the researcher. Research are not just carried out without any objective or goal in mind. A research work is usually carried out with the aim of solving some world problems or making some new innovations. Thus, all scientific research must have a goal as the end product. This goal serves as the driving force for such research work.
@ Generalizability: Being able to bring data together to show a comprehensive conclusion for a study is the purpose of generalization in research. The generalizability definition also includes being able to provide an understanding of the population specific to which the study has been prepared. Sampling and representativeness influences generalization because if they do not fit the specified population, the results will be skewed and impractical for the study. To effectively use generalization in research, at the very least, the sample must be representative of the diversity of the population and include the variables that the researcher means to test. Generalizability should take into account the population, the characteristics and length of the study, incentives and compliance that were put in place for research participation and completion, and the specific settings involved in the study. When the research is completed, there should be a link or similarity between the study and the population in terms of the characteristics of the sample and current or potential community or treatment settings.
@ Purposeful
Research must be purposeful,it means research must be conducted with a certain and definite aim, objective and purpose, moving forward in any research should be guided by stated objectives purposes only the research having a certain purpose and objective will leads towards Certain conclusions and destinations. The purpose of research always determines where the researcher should be according to purpose and objective.it means the research without a certain purposes may lead a researcher in the wrong direction and creates many errors in the entire voyage.
@ Rigorous
The process or procedure of research must be rigorous. It means the researcher must ensure that the procedure followed is relevant, appropriate,and-justified. There should be conflict and doubt with regard to the relevance of research taken by the researcher. The degree of rigor may differ from one research to another and from one field of study to another. But there should be an acceptable degree of rigor in the method of study to call it research.
@ Critical
Critical in research refers to the state of method, finding, and conclusions of research. The process of research undertaking and its finding should have full proof of critical reviews so that result will be justice worthy.if the research is containing any drawbacks it would not be called good research. Critical appraisal of research means an act of carefully and systematical examing research and it’s all findings to judge its reliability, validity, trustworthiness,value and relevances if result are applied in a particular field or context.it is the last condition of finding evidence reliable and efficient.
@ Valid and Verifiable
The research technique and process should be valid and verifiable,it means the conclusions drawn by research should be correct and should be duplicated while applying a similar procedure again and angina over time. It is assumed reliable and having quality when it duplicates the results when the procedures is followed again and again. Validity measures the applicability of research. Only valid research ensures reliability.validity is more important than reliability.
@ Systematic
The study or research process should follow a sequence that logically terminates in the result. The process of research has to be sequential and it has to follow certain predetermined and verified patterns and pathways. It is necessary because the customary procedure would mislead the result and waste resource.
Reference:
Cheprasov, Adam. “What is Scientific Research?” Study.com
Gerandielle, Kumari. “Research” Difference.com
1. The concurrent rise of China and India represents a geopolitical event of historic proportions. Rarely has the global system witnessed the reemergence of two major powers simultaneously—states that possess large populations, have ancient and storied histories, abut each other spatially and politically, and dominate the geographic environs within which they are located. Their return to center stage after several centuries of imperial domination thus presages the reincarnation of an earlier era in Asian geopolitics when China and India were among the most important concentrations of political power in the international system since the fall of Rome. The parallel revival of these two nations also dramatically exemplifies Asia’s resurgence in the global system. Although there has been a steady shift in the concentration of capabilities from West to East ever since the end of World War II, this transformation took a decisive turn when the smaller, early-industrializing nations of Asia—Japan, South Korea, Taiwan, and Singapore—were joined by the large, continental-sized states of China and India.
The recent renaissance of China and India is owed in large measure to their productive integration into the liberal economic order built and sustained by American hegemony in the postwar period. As a result of that integration, both of these giants have experienced dramatic levels of economic growth in recent decades. China’s economic performance, for example, has been simply meteoric, exceeding even the impressive record set by the first generation of Asian tigers between 1960 and 1990. During the last thirty or so years, China has demonstrated average real growth in excess of 9 percent annually, with growth rates touching 13–14 percent in peak years.
As a result, China’s per capita income rose by more than 6 percent every year from 1978 to 2003—much faster than that of any other Asian country, significantly better than the 1.8 percent per year in Western Europe and the United States, and four times as fast as the world average. This feat has made the Chinese economy—in purchasing-power-parity terms—the second largest in the world with a 2010 gross domestic product (GDP) of roughly $10 trillion. Many scholars believe that China will likely overtake the United States in GDP size at some point during the first half of this century.
India’s economic performance has not yet matched China’s in either intensity or longevity. New Delhi’s economic reforms, which have produced India’s recent spurt in growth, began only in the early 1990s, over a decade after China’s. To date, these reforms have been neither comprehensive nor complete, and they have been hampered by the contestation inherent in India’s democratic politics, the complexity of the Indian federal system, the lack of elite consensus on critical policy issues, and the persistence of important rent-seeking entities within the national polity.
Beijing’s and New Delhi’s divergent behaviors are shaped by the unique histories governing their formation as modern states, the stark contrasts in their respective political regimes, and their ongoing territorial disputes and geopolitical rivalries.
Yet despite these disadvantages, the Indian economy has grown at a rate of about 7.5 percent during the first decade of this century. The country thus eclipsed its own historic underperformance and enabled a doubling of per capita income about every decade, placing the Indian economy, when measured by purchasing-power-parity methods, in fourth place globally with a 2010 GDP of approximately $4 trillion. More interestingly, India’s growth—unlike China’s, which relies extensively on foreign capital and export markets—has derived largely from internal sources. Accordingly, many analysts have concluded that continuing economic reforms will enable the country not only to reach its targeted objective of sustained double-digit growth but also to catch up with China in coming decades as Beijing’s own growth slows because of its incipient demographic transitions.
Even if these exact expectations are not met, China and India are likely to sustain their relatively high levels of GDP growth for some time to come. This continual accretion of economic power will position them among the top three economies internationally by the year 2030, if not earlier, thus confirming their status as global giants. Propelled by the rapid economic growth achieved thus far, China and India are already extending their political influence as well as strengthening their military capabilities and reach. China is quickly closing in on its goal of becoming a major global power, if it is not one already, and India is likely to achieve global-power status in the next two decades. Chinese and Indian contributions to the expansion of the international economic system are generally welcomed, with growth in both nations promising to function as the motor of the international economy for several decades to come. The two countries also share a common interest in ensuring that the international environment is peaceful to guarantee their continued economic consolidation and domestic political stability.
But if the history of previous rising powers is any indication, as China and India continue to grow they will want to progressively reshape the international system to advance their own interests—interests that may differ from those of the United States, the established hegemon that sustains the current global order. This does not imply, however, that Beijing and New Delhi invariably share common objectives in opposition to Washington. To be sure, the two countries are united by certain acknowledged aims: recovering the preeminence they once enjoyed as international entities of consequence; establishing a multipolar world with themselves as constituent poles; avoiding the costs of contributing to global public goods on the grounds that their vast developmental challenges are not yet overcome; and protecting their hard-won sovereignty in the face of new principles justifying foreign intervention in the internal affairs of states.
Despite these convergent objectives, China and India are also divided by deep differences in the conduct of their political affairs. Beijing’s and New Delhi’s divergent behaviors are shaped by the unique histories governing their formation as modern states, the stark contrasts in their respective political regimes, and their ongoing territorial disputes and geopolitical rivalries, which are exacerbated by their growing prominence in international politics. As one analysis concluded, “the relation[ship] between Asia’s two great powers can best be characterized as one of global cooperation on transnational issues especially vis-à-vis the ‘West,’ geostrategic rivalry at the regional level in the form of growing commercial exchange and in some cases bilateral competition.”1 This statement captures, in many ways, the conventional wisdom about the dichotomy in Sino-Indian ties: a broad convergence on transnational issues complemented by a deep bilateral rivalry that persists despite the two countries’ mutual and growing economic interdependence.
Whether the agreement on issues of global order, especially vis-à-vis the West, is real or whether it merely obscures important differences between the two rising powers is a critical question because it bears on the character and the extent of change that might be desired of the international system as it evolves. Accordingly, there is a pressing need to understand how these two emerging powers conceive of various issues relating to the global order. Such an understanding would reveal the extent of their comfort with the existing system while simultaneously providing clues about how they might seek to reshape it if they acquire the ability to do so in the future.
This volume is an attempt to understand how China and India think about various dimensions of the emerging global order. It brings together a series of paired papers by distinguished Chinese and Indian scholars who address a common set of questions (listed at the beginning of each chapter) relating to four broad areas of concern: the evolving global order, the challenges of regional security, key problems of the global commons, and emerging nontraditional security concerns.
2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.
Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.
Measuring economic activity in a country or region provides insights into the economic well-being of its residents.
Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.
Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.
3. Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020.
4. To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
1. The rise of China and India as major world powers promises to test the established global order in the coming decades. As the two powers grow, they are bound to change the current international system—with profound implications for themselves, the United States, and the world. And whether they agree on the changes to be made, especially when it comes to their relationship with the West, will influence the system’s future character. A close examination of Chinese and Indian perspectives on the fundamentals of the emerging international order reveals that Sino-Indian differences on many issues of both bilateral and global significance are stark.
KEY POINTS
China and India’s sustained economic growth fuels their increasing geopolitical and military influence.
Despite their developmental similarities, China and India’s bilateral strategic rivalry means that they have competing priorities on most major global issues.
Sino-Indian differences are considerable on issues relating to the nonproliferation system, Asian security, regional stability in Southern Asia, and security in the maritime commons, space, and cyberspace. The two rising powers broadly agree on matters relating to the international economic system, energy security, and the environment.
Because of its ongoing shift to the Asia-Pacific and status as the only global superpower, the United States must manage a complex set of relationships with China and India, which are at times working at cross-purposes.
CHINESE AND INDIAN POSITIONS ON INTERNATIONAL ISSUES
Global Order: China and India tend to agree on the importance of state sovereignty and the need to reform global governance institutions to reflect the new balance of power. They also share a strong commitment to the open economic order that has allowed both powers to flourish in the global marketplace. But the two diverge on many details of the international system, such as the future viability of the Non-Proliferation Treaty and the role of state-owned enterprises in fostering globalization.
Regional Security: Both China and India want a stable Asia-Pacific that will allow them to sustain their economic prosperity, but they perceive threats very differently and have divergent priorities. Importantly, India seeks a resolute American presence in the region to hedge against possible Chinese excesses, while China sees the United States as significantly complicating its pursuit of its regional goals and worries about American containment attempts.
Security in the Global Commons: Beijing and New Delhi rely heavily on open sea lines of communication, and as a result, they both support the current maritime security regime. However, their interpretations as to its provisions have occasionally diverged. In space, China enjoys significant advantages over India and has emphasized the military dimensions of its program, while New Delhi has only recently begun developing space-based military technology. Both countries are just beginning to wrestle with the difficult task of forming cybersecurity policies, but they have already acted to limit objectionable or illegal activities online. In striking the balance between online freedom and social stability, India has encountered a higher degree of opprobrium in the public sphere than its counterpart.
Nontraditional Security: Chinese and Indian approaches to both energy and the environment broadly converge. Because India and China face a rising domestic demand for energy, they heavily rely on foreign suppliers of energy resources. This has prompted both governments to seek more efficient power sources and to secure their presence in overseas energy markets. On environmental policy, the two countries focus on primarily local and short-term concerns that must be balanced with the need for economic growth.
2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.
Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.
Measuring economic activity in a country or region provides insights into the economic well-being of its residents.
Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.
Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.
3. Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
4. To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
1. China and India fought a short but bloody war. Their government later decided to fight poverty rather than each other. China and India are highly competitive but they cooperate in social and economic systems. China and India have taken different routes to enter the world economy and that has resulted in their gaining complementary strengths. Multinational companies take advantages of the complementaries between the two economies. If they embrace both countries, however, they can tap into diverse strengths almost as easily as Chinese and India companies will.
2 The United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and underdevelopment. They includes:
a. Gross Domestic Product ( GDP)
b. Gross National Product ( GNP)
c. GNP per Capita
d. Birth and death rates
e. The Human Development Index (HDI)
f. Infant mortality rate
e. Literacy rate
g. Life expectancy.
3. Characteristics of Developing Nations
a. Low level of living: This implies when a population in a given country do not live a comfortable life and there is no work to do to earn a living.
b. Low level of productivity : a country is a developing country when the goods and services produced are less than the inputs used in producing them . This occurs as a result of low technology or use of manual implements in production.
c. Widespread poverty: there is widespread of lack of financial resources and essentials for a certain standards of living among the people.
d. High rate of population growth and dependency burdens: the population is growing which makes the available resources insufficient to cover up the out growing population and the number of people working are small due to the limited employment opportunities. This makes the people that are unemployed to depend on those that are working .
e. High and rising levels of unemployment and underemployment: There is few employment opportunities and the number of people who have reached the working age is growing everyday. Because there is few employment opportunities, some people are employed to work below their capacity.
f. Substancial dependence on Agricultural production and primary exports: The people depend mainly on agricultural products and primary exports. They do not diversify into industrial sectors.
4. I agree that poverty has the face of a woman .
Women have higher incidence of poverty than men because:
In some families and households, women are not allowed to work but to stay at home and take care of the children . Some cultures restrict women from employment opportunities. In some traditions especially in African societies, women are not allowed to acquire form education. And in most cases, women are exposed to sexual violence. With these I believe that, that is why poverty has the face of a woman .
Reference
https://hbr.org
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Positive Economics is a stream of economics that focuses on the description , quantification and explanation of economic developments , expectations and associated phenomena
Normative economics focuses on value based judgements aimed at improving economic development , investments projects and the distribution of wealth .
2)Ceteris Paribus is a Latin word meaning “All other things being equal” Experts use it to explain the theory behind law of economics and nature . It means that something will occur as a result of something else most of the time, if nothing else changes.
The concept of ceteris Paribus us used extensively in economics because so many variables are constantly changing, the law of gravity is easy to understand because it’s rare for something else to intervene, but that’s not the case with economics .everything is changing
Positive economics is a stream of economics that focuses on the description, quantification and explanation of economic developments, expectations and associated phenomena
Narrative economics focuses on value based judgements aimed at improving economic developments, investment projects, and the distribution of wealth.
2)Ceteris Paribus is a Latin word meaning “all other things being equal” Experts use it to explain the theory behind law of economics and nature. It means that something will occur as a result of something else most of the time, if nothing else changes .
The concept of ceteris Paribus is used extensively in economics because so many variables are constantly changing, the law of gravity is easy to understand because it’s rare for something else to intervene , but that’s not the case with economics . Everything is always changing .
Name:UGWUOKE KOSISOCHUKWU PRECIOUS
Course:ECO361
Reg no:2019/243547
(1) China’s and Indian economic and political footprint has expanded so quickly that many countries, even those with relatively strong state and civil society institutions, have struggled to grapple with the implications. There has been growing attention to this issue in the United States and the advanced industrial democracies of Japan and Western Europe and mostly the developing countries But “vulnerable” countries—those where the gap is greatest between the scope and intensity of Chinese activism, on the one hand, and, on the other, local capacity to manage and mitigate political and economic risks—face special challenges. In these countries, the tools and tactics of China’s activism and influence activities remain poorly understood among local experts and elites. Both within and beyond these countries, meanwhile, policy too often transposes Western solutions and is not well adapted to local realities.
(2) Gross Domestic Product (GDP)
(A)GDP is s how much money a country makes from its products over the course of a year, usually converted to US Dollars:
the sum of gross value added by all resident producers in the economy + product taxes – any subsidies not included in the value of the products.
Gross National Product (GNP)
(B)GNP is the GDP of a nation together with any money that has been earned by investment abroad minus the income earned by non-nationals within the nation.
(C)GNP per capital
GNP per capita is calculated as GNP divided by population; it is usually expressed in US Dollars.
It’s a common indicator used for measuring development, but is imperfect as the calculation doesn’t take into account certain forms of production, such as subsistence production.
(D)Birth and death rates
Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.
(E)The Human Development Index (HDI)
The HDI is a composite statistic calculated from the:
Life expectancy index
Education index
Mean years of schooling index
Expected years of schooling index
Income index
Countries are ranked based on their score and split into categories that suggest how well developed they are.
(3) characteristics of developing countries countries
(A)Low Per Capita Real Income:
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save.
(B) Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
(C) Technological Backwardness:
Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
(D) Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector
(4) yes I agree that women has the face of poverty this is why:
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men.
Okhueigbe Charity Omonye
2019/244711
davidcharity97@gmail.com
(1)
The Third World, or developing countries in Asia, Africa, and Latin America, are typically seen as being impoverished and having economies that are distorted due to their reliance on exporting raw materials to wealthier nations in exchange for completed goods. Along with having unstable administrations, these countries frequently have high rates of sickness, illiteracy, and population growth. When nonaligned countries gained independence from colonial domination following World War II, the term “third world” was initially used to set them apart from Western countries and former Eastern Bloc members, and sometimes more particularly from the United States and the former Soviet Union (the first and second worlds, respectively).For the most part, the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerging industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. Some countries in the Communist Bloc, such as Cuba, were often regarded as “third world.” Because many Third World countries were extremely poor and non-industrialized, it became a stereotype to refer to poor countries as “Third World countries,” yet the “Third World” term is also often taken to include newly industrialized countries like Brazil or China. Historically, some European countries were part of the non-aligned movement, and a few were and are very prosperous, including Austria, Ireland, and Switzerland.
(2)
The United Nations Development Program (UNDP) provides the most popular indicator of the comparative condition of socioeconomic development in its annual series of Human Development Reports. The creation and improvement of their educational Human Development Index serves as the focal point of these studies, which were started in 1990 (HDI).The HDI attempts to rank all countries on a scale of 0 (lowest human development) to 1 (highest human development) based on three goals or end products of development: longevity as measured by life expectancy at birth; knowledge as measured by a weighted average of adult literacy (two-thirds) and gross school enrollment ratio (one-third); and standard of living as measured by real per capita gross domestic product adjusted for the differing purchasing power parity of each country’s currency to reflect cost of living and for the assumption of diminishing marginal utility of income; Using these three measures of development and applying a formula to data for 177 countries, the HDI ranks countries into four groups: low human development (0.0 to 0.499), medium human development (0.50 to 0.799), high human development (0.80 to 0.90), and very high human development (0.90 to 1.0).
(3)
1. Low Per Capita Income:
The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan. According to these estimates for the year 1995, per capita income was $340 in India, $ 620 in China, $240 in Bangladesh, $ 700 in Sri Lanka. As against these, for the year 1995 per capita income was $ 26,980 in USA, $ 23,750 in Sweden, $ 39,640 in Japan and 40,630 in Switzerland.
It may however be noted that the extent of poverty prevailing in the developing countries is not fully reflected in the per capita income which is only an average income and also includes the incomes of the rich also. Large inequalities in income distribution prevailing in these economies have made the lives of the people more miserable. A large bulk of population of these countries lives below the poverty line.
For example, the recent estimates reveal that about 28 per cent of India’s population (i.e. about 260 million people) lives below the poverty line, that is, they are unable to get even sufficient calories of food needed for minimum subsistence, not to speak of minimum clothing and housing facilities. The situation in other developing countries is no better.
The low levels of per capita income and poverty in developing countries is due to low levels of productivity in various fields of production. The low levels of productivity in the developing economies has been caused by dominance of low-productivity agriculture and informal sectors in their economies, low levels of capital formation – both physical and human (education, health), lack of technological progress, rapid population growth which are in fact the very characteristics of the underdeveloped nature of the developing economies. By utilising their natural resources accelerating rate of capital formation and making progress in technology they can increase their levels of productivity and income and break the vicious circle of poverty operating in them.
It may however be noted that after the Second World War and with getting political freedom from colonial rule, in a good number of the underdeveloped countries the process of growth has been started and their gross domestic product (GDP) and per capita income are increasing.
2. Excessive Dependence on Agriculture:
A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
In the present-day developed countries, the modern industrial growth brought about structural transformation with the proportion of working population engaged in agriculture falling drastically and that employed in the modern industrial and services sectors rising enormously. This occurred due to the rapid growth of the modern sector on the one hand and tremendous rise in productivity in agriculture on the other.
The dominance of agriculture in developing countries can be known from the distribution of their workforce by sectors. According to estimates made by ILO given in Table 4.1 on an average 61 per cent of workforce of low-income developing countries was employed in agriculture whereas only 19 per cent in industry and 20 per cent in services. On the contrary, in high income, that is, developed countries only 4 per cent of their workforce is employed in agriculture, while 26 per cent of their workforce is employed in industry and 70 per cent in services.
3. Low Level of Capital Formation:
The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
Since then there has been substantial increase in the rate of saving and investment in the developing countries. However, the quantity of capital per head is still very low in them and therefore productivity remains low. For example, in India rate of investment has now (2012-13) risen to about 35 per cent but it still remains a poor country with low level of productivity. This is because as a result of rapid population growth, capital per head is still very low.
The low level of capital formation in a developing country is due both to the weakness of the inducement to invest and to the low propensity and capacity to save. The rate of saving in developing countries is low primarily because of the low level of national income. In such an economy, the low level of per capita income limits the size of the market demand for manufacturing output which weakens the inducement to invest. The low level of investment also arises as a result of the lack of dynamic entrepreneurship which was regarded by Schumpeter as the focal point in the process of economic development.
At the root of capital deficiency is the shortage of savings. The level of per capita income being quite low, most of it is spent on satisfying the bare necessities of life, leaving a very little margin of income for capital accumulation. Even with an increase in the level of individual incomes in a developing economy, there does not usually follow a higher rate of accumulation because of the tendency to copy the higher levels of consumption prevailing in the advanced countries. Nurkse has called this as “demonstration effect”. It is usually caused through media like films, television or through foreign visits.
Generally, there exist large inequalities in the distribution of incomes in developing countries. This should have resulted in a greater volume of savings available for capital formation. But most often the sector in which the greatest concentration of incomes lies is the one which derives its income primarily from non-entrepreneurial sources such as unearned incomes of rents, interests and monopoly profits.
The attitudes and social values of this sector are often such that it is prone to use its income for ‘conspicuous consumption’, investment in land and real estate, speculative transactions, inventory accumulation and hoarding of gold and jewellery. If these surpluses are channelled into productive investment, they would tend to increase substantially the level of capital formation.
4. Rapid Population Growth and Disguised Unemployment:
The diversity among developing economies is perhaps nowhere to be seen so much in evidence as in respect of the facts of their population in respect of its size, density and growth. While we have examples of India, Pakistan and Bangladesh with their teeming millions and galloping rates of population growth, there are the Latin American countries which are very sparsely populated and whose total population in some cases numbers less than a single metropolitan city in India and China. In several newly emerging countries of Africa too and in some of the Middle Eastern countries the size of their population cannot be regarded as excessive, considering their large expanse. The South- East and Eastern Asia, on the other hand, have large populations.
However, there appears to be a common feature, namely, a rapid rate of population growth. This rate has been rising still more in recent years, thanks to the advances in medical sciences which have greatly reduced the death rate due to epidemics and diseases. While the death rate has fallen sharply, but there has been no commensurate decline in birth rate so that the natural survival rate has become much larger. The great threat of this rapid population growth rate is that it sets at nought all attempts at development in as much as much of the increased output is swallowed up by the increased population.
One important consequence of this rapid rate of population growth is that it throws more and more people on land and into informal sector to eke out their living from agriculture, since alternative occupations do not simultaneously develop and thus are not there to absorb the increasing numbers seeking gainful employment. The resultant pressure of population on land and in informal sector thus gives rise to what has been called “disguised unemployment”.
Disguised unemployment means that there are more persons engaged in agriculture than are actually needed so that the addition of such persons does not add to agricultural output, or putting it alternatively, given the technology and organisation even if some of the persons are withdrawn from land, no fall in production will follow from such withdrawal. As a result, marginal productivity of a wide range of labourers employed in agriculture is zero.
Lower Levels of Human Capital:
Human capital – education, health and skills – are of crucial importance for economic development. In our analysis of human development index (HDI) we noted that there is great disparity in human capital among the developing and developed countries. The developing countries lack in human capital that is responsible for low productivity of labour and capital in them.
Lack of education manifests itself in lower enrolment rate in primary, secondary and tertiary educational institutions which impact knowledge and skills of the people. Lower levels of education and skills are not conducive for the development of new industries and for absorbing new technologies to achieve higher levels of production. Besides, lack of education and skills makes people less adaptable to change and lowers the ability to organise and manage industrial enterprises. Further, in countries like India, advantage of demographic dividend can be taken only if the younger persons can be educated, healthy and equipped with appropriate skills so that they can be employed in productive activities.
The data of various education indicators is given in Table 4.3. It will be seen from this table that as compared to high income countries enrolment in secondary and tertiary educational institutions was 38% and 63% of person of relevant age group in 2009 as compared to 100 per cent in high-income developed countries.
Similarly, enrolment rate in tertiary educational institutions which impart higher liberal, managerial and technical education in developing countries of low income and lower middle income is 6 per cent and 19 per cent respectively of the relevant age group as compared to 67 per cent in high-income developed countries. It will be seen from Table 4.3 that in India enrolment for secondary education is 60 per cent and in China 78 per cent of relevant age group.
Similarly, Table 4.3 reveals that adult literacy rate (percentage of population of ages 15 and older that can read and write a short simple statement in their everyday life) is much lower (62% in low income and 80% in lower middle income developing countries) in 2009 as compared to 98% in high income developed countries. In India adult literacy rate is only 63 per cent in 2009 whereas it is much higher in China (94 %) and Brazil (90 %) as compared to 98% in high-income developed countries.
(4)
its true that poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure who you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
Kalu Nmecha
2019/249570
nmechakalu2@gmail.com
(1)
The United States, Western European nations, and their allies represented the First World, while the Soviet Union, China, Cuba, and their allies represented the Second World. This terminology provided a way of broadly categorizing the nations of the Earth into three groups based on social, political, cultural, and economic divisions.
The Third World was normally seen to include many countries with colonial pasts in Africa, Latin America, Oceania, and Asia. It was also sometimes taken as synonymous with countries in the Non-Aligned Movement. In the so-called dependency theory of thinkers like Raul Prebisch, Walter Rodney, Theotonio dos Santos, and Andre Gunder Frank, the Third World has also been connected to the world economic division as “periphery” countries in the world system that is dominated by the “core” countries. The Third World, or developing countries in Asia, Africa, and Latin America, are typically seen as being impoverished and having economies that are distorted due to their reliance on exporting raw materials to wealthier nations in exchange for completed goods. Along with having unstable administrations, these countries frequently have high rates of sickness, illiteracy, and population growth. When nonaligned countries gained independence from colonial domination following World War II, the term “third world” was initially used to set them apart from Western countries and former Eastern Bloc members, and sometimes more particularly from the United States and the former Soviet Union (the first and second worlds, respectively).For the most part, the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerging industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. Some countries in the Communist Bloc, such as Cuba, were often regarded as “third world.” Because many Third World countries were extremely poor and non-industrialized, it became a stereotype to refer to poor countries as “Third World countries,” yet the “Third World” term is also often taken to include newly industrialized countries like Brazil or China. Historically, some European countries were part of the non-aligned movement, and a few were and are very prosperous, including Austria, Ireland, and Switzerland.
(2)
The United Nations Development Program (UNDP) provides the most popular indicator of the comparative condition of socioeconomic development in its annual series of Human Development Reports. The creation and improvement of their educational Human Development Index serves as the focal point of these studies, which were started in 1990 (HDI).The HDI attempts to rank all countries on a scale of 0 (lowest human development) to 1 (highest human development) based on three goals or end products of development: longevity as measured by life expectancy at birth; knowledge as measured by a weighted average of adult literacy (two-thirds) and gross school enrollment ratio (one-third); and standard of living as measured by real per capita gross domestic product adjusted for the differing purchasing power parity of each country’s currency to reflect cost of living and for the assumption of diminishing marginal utility of income; Using these three measures of development and applying a formula to data for 177 countries, the HDI ranks countries into four groups: low human development (0.0 to 0.499), medium human development (0.50 to 0.799), high human development (0.80 to 0.90), and very high human development (0.90 to 1.0).
(3)
(3)
1. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
2. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
3. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
4. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
5. Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector.
Ezeoha Nnenna Mercy
Economics Education
2019/249099
300l
First, the Second, and the Third World.
The map above shows the two major geopolitical blocs, some ‘neutral,’ non-aligned countries, and countries of the Third World in the period between the end of the Second World War and the collapse of the Soviet Union (USSR) in 1991.
The era known as the “Cold War” was a political constellation of countries with two different world-views. On one side were the industrialized capitalist nations aligned with the USA, called the Western Bloc, which likes to call itself the “Free World” or the “Western world.” On the other side were the Communist workers and peasants states of the Eastern Bloc, the socialist countries within the power fabric of the Soviet Union, and Mao’s China. In Europe, there were some neutral countries, and there was the rest of the world.
The Third World
And why is our music called world music? I think people are being polite. What they want to say is that it’s Third World music. Like they use to call us underdeveloped countries, now it has changed to developing countries, it’s much more polite.
When people talk about the poorest or underdeveloped countries of the world, they often refer to them with the general term Third World, and they think everybody knows what they are talking about. But when you ask them if there is a Third World, what about a Second or a First World, you almost always get an evasive answer. Other people even try to use the terms as a ranking scheme for the state of development of countries, with the First World on top, followed by the Second World and so on, that’s perfect – nonsense.
To close the gap of information, you will find here explanations of the terms.
The terms First, Second and Third World is a rough, and it’s safe to say, outdated model of the geopolitical world from the time of the cold war.
Definition of the First, Second and Third World.
Four Worlds
After the Second World War, the world split into two major geopolitical blocs and spheres of influence with conflicting political views about government and the right society.
First World
The bloc of democratic-industrialized countries within the American sphere of influence, the “First World,” also known as The West.
Second World
The Eastern bloc of the communist-socialist states, where the political and economic power should come from the up to now oppressed peasants and workers.
Third World
The remaining three-quarters of the world population, countries that did not belong to either bloc, were considered “Third World.”
Fourth World
The term “Fourth World” was coined in the early 1970s by Shuswap Chief George Manuel, it refers to widely unknown nations (cultural entities) of indigenous peoples, “First Nations” living within or across national state boundaries.Middle East
Growing political rivalry in the Arab world with conflicting ideologies was dubbed the Arab Cold War.
In one camp were the newly founded, more secular, pan-Arabic republics of North Africa and the Middle East, such as Syria, Iraq, Libya, North Yemen, and Sudan, led by Nasser’s Egypt and inspired by the idea of Arab nationalism and socialism.
On the other side, led by King Faisal of Saudi Arabia, stood the newly founded oil-rich, sharia law wielding emirates on the Arabian Peninsula.
Despite ideological differences, the Arab world had an archenemy, Israel.
The founding of the State of Israel in 1948 led to a series of wars between 1948 and 1973 in which Arab states were involved in alternating alliances with Israel and its Western allies. The Arab–Israeli conflict is one of the major unresolved geopolitical conflicts in the world.
Southeast Asia
In 1931 a coup d’état forced Siam to change its status from an absolute monarchy to a constitutional monarchy; its name was changed in 1939 to Thailand.
Imperial Japan occupied Singapore from 1942 to 1945, after the fall of the British colony. The city was returned to British colonial rule in September 1945.
The US occupation of the Philippines ended after the Second World War and after almost 50 years of American rule in 1946.
The Dutch East Indies (today Indonesia), which comprised the southern islands in maritime Southeast Asia, had been in Dutch possession since the beginning of the 19th century.
The Japanese Empire occupied the Dutch colony during WWII, which ended the colonial rule of the Dutch. The Japanese occupation of Indonesia ended with Japan’s surrender. Days after the Japanese submission, Sukarno, the leader of the country’s struggle for independence, declared Indonesia’s independence.
Japan occupied French Indochina during the Second World War, but the French were allowed to stay and exercise some influence. For administrative reasons, the Japanese created the new Empire of Vietnam, the Kingdom of Kampuchea (today Cambodia), and the Kingdom of Luang Phrabang (today Laos).
After WWII, the power vacuum in Vietnam was utilized by the Viet Minh, the only organized resistance group against French and Japanese occupation. The Viet Minh, led by Ho Chi Minh, launched the “August Revolution” in August 1945, seized control of Vietnam and declared Vietnamese independence, but it was a “fake independence.” The French refused to let go of their colony. And far, far away in a German city at the Potsdam conference in July 1945, which was about to establish a general postwar order, the Allies divided Indochina into two zones at the 16th parallel. The rest is history. British forces, along with some French troops, arrived in Saigon, the capital of South Vietnam. Failing negotiations between the Vietnamese and the Allied Forces triggered a full-scale guerrilla war in December 1946 (First Indochina War).
Northeast Asia
The Division of Korea began at the end of World War II in 1945. In 1910, Imperial Japan annexed Joseon (Chosŏn), the dynasty that ruled the Korean peninsula. When Japan surrendered at the end of WWII, the peninsula was occupied by the Soviets and the US. They divided Korea into two zones along the 38th parallel; the Soviets settled in the north and the Americans in the south. The tensions between the two Koreas with their different ideologies led to the outbreak of the Korean War in 1950, which ended in a stalemate in 1953 without a formalized peace treaty.
What Is Capitalism
Capitalism is an economic system in which private individuals or businesses own capital goods. At the same time, business owners (capitalists) employ workers (labor) who only receive wages; labor does not own the means of production but only uses them on behalf of the owners of capital.
The production of goods and services under capitalism is based on supply and demand in the general market—known as a market economy—rather than through central planning—known as a planned economy or command economy.
The purest form of capitalism is free market or laissez-faire capitalism. Here, private individuals are unrestrained. They may determine where to invest, what to produce or sell, and at which prices to exchange goods and services. The laissez-faire marketplace operates without checks or controls.
CHAPTER 2
The International Monetary Fund (IMF) and the World Bank share a common goal of raising living standards in their member countries.
Their approaches to achieving this shared goal are complementary: the IMF focuses on macroeconomic and financial stability while the World Bank concentrates on long-term economic development and poverty reduction.
Want to know more, watch this broadcast media video on the difference between the IMF and the World Bank
HOW WELL DO YOU KNOW THE IMF AND THE WORLD BANK?
The IMF and the World Bank were created in July 1944 at an international conference in the United States (in Bretton Woods, New Hampshire) that established a framework for economic cooperation aimed at creating a more stable and prosperous global economy. While this goal remains central to both institutions, their work constantly evolves in response to economic developments and challenges.
THE IMF MANDATE
The IMF promotes global macroeconomic and financial stability and provides policy advice and capacity development support to help countries build and maintain strong economies. The IMF provides short- and medium-term loans to help countries that are experiencing balance of payments problems and difficulty meeting international payment obligations. IMF loans are funded mainly by quota contributions from its members. IMF staff are primarily economists with wide experience in macroeconomic and financial policies.
THE WORLD BANK MANDATE
The World Bank promotes long-term economic development and poverty reduction by providing technical and financial support to help countries implement reforms or projects, such as building schools, providing water and electricity, fighting disease, and protecting the environment. World Bank assistance is generally long-term and is funded by member country contributions and by issuing bonds. World Bank staff are often specialists on specific issues, such as climate, or sectors, such as education.
What Is Gross National Income (GNI)?
Gross National Income (GNI) is the total amount of money earned by a nation’s people and businesses. It is used to measure and track a nation’s wealth from year to year. The number includes the nation’s gross domestic product (GDP) plus the income it receives from overseas sources.
The more widely known term GDP is an estimate of the total value of all goods and services produced within a nation for a set period, usually a year. GNI is an alternative to gross domestic product (GDP) as a means of measuring and tracking a nation’s wealth and is considered a more accurate indicator for some nations. The U.S. Bureau of Economic Affairs (BEA) tracks the GDP to measure the health of the U.S. economy from year to year. The two numbers are not significantly different. Finally, there’s gross national product (GNP), which is a broad measure of all economic activity.
Gross national income (GNI) is an alternative to gross domestic product (GDP) as a measure of wealth. It calculates income instead of output.
GNI can be calculated by adding income from foreign sources to gross domestic product.
Nations that have substantial foreign direct investment, foreign corporate presence, or foreign aid will show a significant difference between GNI and GDP.
Gross National Income (GNI)
Understanding Gross National Income (GNI)
GNI calculates the total income earned by a nation’s people and businesses, including investment income, regardless of where it was earned. It also covers money received from abroad such as foreign investment and economic development aid.
Residence, rather than citizenship, is the criterion for determining nationality in GNI calculations, as long as the residents spend their income within the country. GNI has come to be preferred to GDP by organizations such as the World Bank. It also is used by the European Union to calculate the contributions of member nations.
To calculate GNI, compensation paid to resident employees by foreign firms and income from overseas property owned by residents is added to GDP, while compensation paid by resident firms to overseas employees and income generated by foreign owners of domestic property is subtracted. Product and import taxes that are not already accounted for in GDP are also added to GNI, while subsidies are subtracted.
To convert a nation’s GDP to GNI, three terms need to be added to the former: 1) Foreign income paid to resident employees), 2) Foreign income paid to residential property owners and investors, and 3) net taxes minus subsidies receivable on production and imports.
Real-World Examples of GNI
For many nations, there is little difference between GDP and GNI, since the difference between income received by the country versus payments made to the rest of the world does not tend to be significant. For instance, the U.S. GNI for 2020 was about $21.3 trillion, according to the World Bank.
1
The GDP in that same year was $20.9 trillion.
2
For some countries, however, the difference is significant. GNI can be much higher than GDP if a country receives a large amount of foreign aid, as is the case with East Timor which recorded a 2020 GNI of $2.4 billion and a GDP of $1.8 billion.
But it can be much lower if foreigners control a large proportion of a country’s production, as is the case with Ireland, a low-tax jurisdiction where the European and U.S. subsidiaries of a number of multinational companies nominally reside. Ireland recorded a 2020 GNI of just $308.4 billion while their GDP for the same period stood at $418.6 billion.
GDP vs. GNI vs. GNP
Of the three measures, GNP is the least used, possibly because it might be deceptive. For instance, if a nation’s wealthiest citizens routinely move their money offshore, counting that money would inflate the nation’s apparent wealth.
In fact, GNI may now be the most accurate reflection of national wealth given today’s mobile population and global commerce.
GDP is the total market value of all finished goods and services produced within a country in a set time period.
GNI is the total income received by the country from its residents and businesses regardless of whether they are located in the country or abroad.
GNP includes the income of all of a country’s residents and businesses whether it flows back to the country or is spent abroad. It also adds subsidies and taxes from foreign sources.
Image
Image by Sabrina Jiang © Investopedia 2020
How Does GNI Differ from GDP and GNP?
Gross national income (GNI) calculates the total income earned by a nation’s people and businesses, including investment income, regardless of where it was earned. Residence, rather than citizenship, is the criterion for determining nationality in GNI calculations. It also covers money received from abroad such as foreign investment and economic development aid.
GDP is the total market value of all finished goods and services produced within a country in a set time period. GNP includes the income of all of a country’s residents and businesses whether it flows back to the country or is spent abroad. It also adds subsidies and taxes from foreign sources.
How Is GNI Calculated?
To calculate GNI, compensation paid to resident employees by foreign firms and income from overseas property owned by residents is added to GDP, while compensation paid by resident firms to overseas employees and income generated by foreign owners of domestic property is subtracted. Product and import taxes that are not already accounted for in GDP are also added to GNI, while subsidies are subtracted.
When Is GNI Useful?
For nations, like the US, there is little difference between GDP and GNI, since the difference between income received versus payments made to the rest of the world does not tend to be significant. For some countries, however, the difference is significant. GNI can be much higher than GDP if a country receives a large amount of foreign aid, as is the case with East Timor. Conversely, it can be much lower if foreigners control a large proportion of a country’s production, as is the case with Ireland, a low-tax jurisdiction where the European and U.S. subsidiaries of a number of multinational companies nominally reside.
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Gross Domestic Product (GDP): Formula and How to Use It
Gross domestic product is the monetary value of all finished goods and services made within a country during a specific period. more
Gross National Product (GNP) Defined With Example
Gross national product (GNP) includes GDP, income earned by residents from overseas investments, minus income earned by foreign residents. more
What Is National Income Accounting? How It Works and Examples
National income accounting refers to the bookkeeping system that governments use to measure the level of the economic activity, such as GDP. more
Circular Flow Model Definition and Calculation
The circular flow model of economics shows how money moves through an economy in a constant loop from producers to consumers and back again. more
What Is the Human Development Index (HDI)?
The Human Development Index (HDI) is a tool developed by the United Nations to measure and rank countries’ levels of social and economic development. more
Net National Product (NNP)
Net national product (NNP) is the total value of finished goods and services produced by a country’s citizens overseas and domestically, minus depreciation.
CHAPTER 3
Major Characteristics of Developing Countries
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore. In a summary, the major characteristics of developing countries are presented in the following table.
1 Low Per Capita Real Income
2 Mass Poverty
3 Rapid Population Growth
4 The problem of Unemployment and Underemployment
5 Excessive Dependence on Agriculture
6 Technological Backwardness
7 Dualistic Economy
8 Lack of Infrastructures
9 Lower Productivity
10 High Consumption and Low Saving
CHAPTER 4
Yes,, Poverty has a female face, economic crisis hits women hardest
Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship, say MEPs in a non binding resolution adopted on Tuesday. Two other resolutions look at measures to combat gender stereotyping in the EU and to protect women’s rights in North Africa.
“Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment,” said rapporteur Elisabeth Morin-Chartier (EPP, FR) in Monday’s debate marking International Women’s Day.
Parliament points out that cuts in education, childcare and care services have pushed women to work shorter hours or part-time, thereby reducing not only their income but their pensions as well.
Invest in women
MEPs say that to restore growth and to reverse the effects of the crisis, member states must invest in lifelong training, re-skilling policies, teleworking and new jobs, promote female entrepreneurship and develop child-care facilities. They must also include women in decision-making and promote gender balance on company boards.
The resolution on the impact of the crisis on gender equality and women’s rights was passed by 495 votes to 96, with 69 abstentions.
Fighting gender stereotypes
Gender stereotypes also contribute to the feminisation of poverty, say MEPs. They persist in the labour market in sectors such as engineering and childcare, leading to occupational segregation and the gender pay gap.
“Stereotypes and lower pay increase the risk for women to fall into poverty, particularly for older women, also due to low pensions,” said rapporteur Katrika Tamara Liotard (GUE/NGL, NL). She added: “the media can contribute to reducing female stereotypes.”
The EP calls on the Commission and the member states to use EU programmes, such as the European Social Fund, to get more women into professions where they are under-represented and to guarantee equal pay for equal work.
They call for measures to combat gender stereotyping in education, from the kindergarten onwards, and in the media, advertising, the labour market and politics. MEPs also insist that the female image should be portrayed in a way that respects women’s dignity instead of sexualising girls and women.
The non binding resolution on eliminating gender stereotypes in the EU was adopted by 368 votes to 159, with 98 abstentions.
North Africa
Parliament calls for better use to be made of EU instruments in order to protect women’s rights in the countries of North Africa and it asks their authorities to enshrine the principle of equality between women and men in their constitutions and to end all forms of discrimination and violence against women.
“This is a strong and unequivocal signal of solidarity and support to women who are fighting in North Africa for freedom, democracy and universal human rights of men and women against all forms of discrimination and violence. As they explained, for them it is the same battle. We need to support and accompany this difficult transition and ensure their rights are recognised and protected in the constitution and in the legislation,” said Silvia Costa (S&D, IT), who drafted the resolution.
1. China and India practice both communist and capitalism
2. LDC identification criteria and indicators
Measuring for income per capital , human assets index ,economic and environmental index
3.characteristics of developing nations are massive poverty when there proper facilities or health care center or poor feeding
Population growth is cause by high rate of birth and immigration and when a nation is over populated it cause poverty as well because government can’t provide provisions for all
Lack of infrastructure lack of amenities use to build a nation
Low per capital income which lead to low standard of living making d society suffer as well
Unemployment kills a country because when there is no work people engage in illegal works just survive in a country.
4. Yes thou
Because women goes through a lot dis same women were deprive from going to school women before are regarded for d kitchen and child bearing which is painful and poverty is carrying the face of a women .
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
The soviet union believes that the many poor and ambitious countries will, later if not sooner, decide that communism offers them the best prospects for raising their status in the world. In addition to being a principal focus of communist hopes and efforts, the question of the correct policy toward the third world has unleashed deep-set rivalries and antagonisms between and within ruling and non ruling communist parties alike. Because the soviet union is the longest established, most powerful and most widely active of the communist regime, in this brief review special attention will be focused on soviet perception and policies, with only summary reference to the differing policies pursued by communist China, Yugoslavia and Cuba.
As a result of de-colonization, the united nations at first numerically dominated by European countries and countries of European origin was gradually transformed into something of a third world forum. With the increase in urgency, the problem of underdevelopment then became the focus of a permanent , although essentially academic debate. Despite that debate, the unity of the third world remains hypothetical, expressing mainly the platforms of international conferences.
2. MANY OTHER CRITERIA AND INDICATORS FOR MEASURING DEVELOPMENT AND UNDER DEVELOPMENT.
Other criteria for measuring development and underdevelopment are:
• Human Development Index(HDI): The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and have a decent standard of living. The HDI is the geometric mean of normalized indices for each of the three dimensions. The health dimension is assessed by life expectancy at birth, the education dimension is measured by mean of years of schooling for adults aged 25 years and more and expected years of schooling for children of school entering age. The standard of living dimension is measured by gross national income per capita. The HDI uses the logarithm of income, to reflect the diminishing importance of income with increasing GNI. The scores for the three HDI dimension indices are then aggregated into a composite index using geometric mean. The HDI can be used to question national policy choices, asking how two countries with the same level of GNI per capita can end up with different human development outcomes. These contrasts can stimulate debate about government policy priorities. The HDI simplifies and captures only part of what human development entails. It does not reflect on inequalities, poverty, human security, empowerment, etc.
• Human Poverty Index: The Human Poverty Index (HPI) is an indication of the standard of living in a country, developed by the United Nations (UN) to complement the Human Development Index (HDI) and was first reported as part of the Human Development Report 2007. It is a composite index which assesses three elements of deprivation in a country – longevity, knowledge and a decent standard of living. There are two indices; the HPI – 1, which measures poverty in developing countries, and the HPI-2, which measures poverty in OCED developed economies.
HPI-1 (For developing countries)
The HPI for developing countries has three components:
1. The first element is longevity, which is defined as the probability of not surviving to the age of 40.
2. The second element is knowledge, which is assessed by looking at the adult literacy rate.
3. The third element is to have a ‘decent’ standard of living. Failure to achieve this is identified by the percentage of the population not using an improved water source and the percentage of children under-weight for their age.
HPI-2 (For developed countries)
The indicators of deprivation are adjusted for advanced economies in the following ways:
1. Longevity, which for developed countries is considered as the probability at birth of not surviving to the age of 60.
2. Knowledge is assessed in terms of the percentage of adults lacking functional literacy skills, and;
3. A decent standard of living is measured by the percentage of the population living below the poverty line, which is defined as those below 50% of median household disposable income, and social exclusion, which is indicated by the long-term unemployment rate.
3. CHARACTERISTICS OF DEVELOPING COUNTRIES.
The term “developed countries” refers to a sovereign state whose economy has advanced significantly and which, in comparison to other countries, has a vast technical infrastructure. Developing nations are those with low levels of industry and human development. Below are the characteristics of developing countries:
• High per-capita income: Annual income in developing countries is not as high as in developed countries due to the high unemployment rate. As a result, poverty can be reduced to some extent. The real per capita income of developing countries is very low as compared to developing countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings and low investment and ultimately creates a vicious cycle of poverty. A lower middle-income country is one with the GNI per capita between 1,046 to 4,095 in current US$
• Massive Poverty: The majority of people in developing countries have been affected by the issue of poverty. Even the most fundamental demands cannot be met by them. The issue of poverty is also reflected in the low per capita in emerging countries. According to UN-Habitat, around 33% of the urban population in the developing world in 2012, or about 863 million people, lived in slums. In 2012, the proportion of urban population living in slums was highest in Sub-Saharan Africa (62%), followed by South Asia (35%), Southeast Asia (31%) and East Asia (28%).
The UN-Habitat reports that 43% of urban population in developing countries and 78% of those in the least developed countries live in slums.
Slums form and grow in different parts of the world for many different reasons. Causes include rapid rural-to-urban migration, economic stagnation and depression, high unemployment, poverty, informal economy, forced or manipulated poor planning, politics, natural disasters and social conflicts. For example, as populations expand in poorer countries, rural people move to cities in extensive urban migration that results in the creation of slums.
In some cities, especially in countries in Southern Asia and Sub-Saharan Africa, slums are not just marginalized neighborhoods holding a small population; slums are widespread, and are home to a large part of urban population. These are sometimes called “slum cities”.
• Unemployment and underemployment: A Problem: Other significant issues and prevalent traits of emerging or undeveloped countries include unemployment and underemployment. The issue of underemployment and unemployment in emerging nations is brought on by factors such as an overreliance on agriculture, a lack of industrialization, an improper use of natural resources, a lack of workforce planning, and others. Underemployment is a more significant issue than unemployment in developing countries. In developing countries, the unemployment rate is still relatively high because the available job vacancies are not evenly distributed. In addition, the level of uneven education is also one of the factors causing the large unemployment rate. This emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
• Healthcare and public health: People in developing countries usually have a lower life expectancy than people in developed countries, reflecting both lower income levels and poorer public health. The burden of infectious diseases, maternal mortality, child mortality and infant mortality] are typically substantially higher in those countries. Developing countries also have less access to medical health services generally, and are less likely to have the resources to purchase, produce and administer vaccines, even though vaccine equity worldwide is important to combating pandemics, such as the COVID-19 pandemic.
• Under nutrition is more common in developing countries: Certain groups have higher rates of under nutrition, including women – in particular while pregnant or breastfeeding – children under five years of age, and the elderly. Malnutrition in children and stunted growth of children is the cause for more than 200 million children under five years of age in developing countries not reaching their developmental potential. About 165 million children were estimated to have stunted growth from malnutrition in 2013. In some developing countries, over nutrition in the form of obesity is beginning to present within the same communities as under nutrition.
• Technological stagnation: Innovative technology has a positive and growing impact on a country’s ability to develop. The utilization of technology is extremely low in developing nations, and the technology that is employed is also old. In less developed countries, this results in a high cost of manufacturing and a high capital-output ratio. Poor pay rates, a high labor-to-capital ratio, and high capital-output ratios all contribute to low input productivity, which lowers a country’s gross domestic product.
Some of the main reasons for technological backwardness in developing countries include illiteracy, a lack of good education, a lack of programs for skill development, and a lack of funding for the installation of cutting-edge technologies. The development of a nation is a positive and increasing function of innovation technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations.
DOES POVERTY HAVE A WOMAN’S FACE?
Yes, I believe poverty has a woman’s face. This is because the first that comes to my mind when I hear poverty is “ugly situation”- situation where the rich enjoys more than the poor. No situation of equality where the poor experiences hardship such as no shelter, living in slums, lack of adequate food, lack of proper education and so on. This does mean that women are ugly but the situations that they have faced and stay facing makes them look ugly. I believe women are the predominant gender that suffers more in this scenario and that’s because the stigmatization that they face coupled with the natural hardship of giving birth is quite unbearable. Women aren’t treated equally like men and that is why the weight of poverty seems to lay on their shoulders the more. Therefore, classifying poverty based on gender, it has a feminine expression.
Also, I think poverty has a woman’s face because of the impossible situation of erasing it. The stigmatization and normal saying that “women belong to the kitchen” doesn’t seem to be a cliché because back in the olden days, it was used and surprisingly(though in Africa), it is still used and practiced today. This shows how impossible it is for inequality to be erased. This also applies to poverty because no matter how hard a country tries, it is impossible to completely erase poverty in the society.
Okeanyaego Victor Chidubem
ECONOMICS
2019/244068
Eco 361 Assignment.
1. China as a country in Asia, was affected by over population over the years, India termed one of poorest countries in the world, also largely populated worked on their socio-economic and political sphere. This led to a massive improvement and change in these countries. China focused on more industrial and manufacturing sectors. India in human capital helped the relationship between third world countries.
2. Level of Productivity
Educational Attainment
Life Expentency Ratio.
Illetracy level
Standards of living
Purchasing Power Parity of Individuals
3. -Low level of Life Expectancy: Unlike other countries, Nigeria still developing has a life expectancy set at 45-47. This is too poor.
-Poor GNP: Nigeria has a poor Gross National Product, it clearly shows how dependent of a country we are .
– Production level ; The production level is poor because we’re not a manufacturing country.
Poor Standard of living: Poverty rate in the country is high. Some Nigerians can not boast of 3 square meal a day .
4. Yes I agree. This is because, Women are faced with 3 Major life duties; Child bearing , Child nurturing and Domestic physical work. They are strongly limited by Socio-cultural backgrounds.
Eco 361 online Quiz
Department: Economics/philosophy
Reg.No:2019/244167
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
The term “Third World” arose during the Cold War to define countries that remained non-aligned with either NATO or the Warsaw Pact. The United States, Canada, Japan, South Korea, Western European nations and their allies represented the “First World”, while the Soviet Union, China, Cuba, North Korea, Vietnam and their allies represented the “Second World
China has supported the third world countries in developing their economy and their call for the establishment of a new international economic order, winning their trust and support. As a result, many third world countries entered into diplomatic relations with China. Twenty-six African countries forged diplomatic ties with China. There was also a breakthrough in China’s relations with the Latin American countries as China established diplomatic relations with 13 Latin American countries including Chile, Mexico, Argentina, Venezuela and Brazil. China entered into diplomatic relations with Malaysia, Thailand, the Philippines, Bangladesh and Maldives in Southeast Asia and South Asia, seven countries including Iran, Turkey and Kuwait in West Asia and the Middle East and five countries in South Pacific such as Fiji and Papua New Guinea. The establishment of diplomatic relations between China and a large number of developing countries was accompanied by frequent exchange of visits between the Chinese leaders and the leaders of these countries, which greatly boosted the steady growth of relations between China and other third world countries. By the end of 1979, China had entered into diplomatic relations with 120 countries. China had friends across the five continents and its international standing saw unprecedented growth.
INDIA: The 21st century is touted to be the Asian age,
belonging to China and India. The end of the
Cold War and the growing impacts of globalisation are also making India redefine its position
and role both at the regional and at the global
level. Since the economic liberalisation of the
1990s, which lead to growth rates of 6-7 percent p.a., India’s global presence has been steadily visible. Two issues are shaping India’s rise –
the political dividend it has garnered as the
world’s largest democracy and its growing economic status, which, according to projections,
will cause it to emerge, along with China, as a
key economic driver of the future. India, the
acknowledged leader of the South, is transcending that role to play a larger global role, a development that is endorsed by both the US and the
European Union (EU) in their respective Strategic
Partnerships with India.
Foreign Policy Strategies Adopted
by India to Enhance its Role in
International Politics
The BJP-led government’s decision for nuclear
testing in 1998 catapulted India to global attention and to the first rungs of the major powers,
as some Indian analysts argued. Since the nuclear tests, there has been a new assertiveness in
Indian foreign policy. It is not that the successive
Indian governments have renounced the Nehruvian view of world politics. But along with the high ideals and the strong self-image espoused
by Nehru, there is a new-found pragmatism and
confidence. India seeks to project itself not only
with words and ideals, but with a growing economic power registering a steady 7-8 percent
growth in the last few years. And more significantly, India is increasingly moving from the power of the idea to the new argument, which is
to augment economic and political power.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.
Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
2. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
3. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
4. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
5. Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports
It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?.
The saying that poverty has the face of a woman is a metaphor that interprets women stereotype as a gender encompassed about with every and different issues of life,so YES POVERTY HAS THE FACE OF A WOMAN. its true that poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibility to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure who you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elderly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them in equally footing.
Women are facing a silent crisis which worsens and weakens their condition.
Before the economic crisis unemployment, precarious work, part-time work, low
salaries and slow career paths already affected women more then men. Today,
with the effects of austerity policies, they are suffering a double punishment,”
It is.pointed out that that cuts in education, childcare and care services have pushed women to work shorter hours or part-time, thereby reducing not only their income but their pensions as well.Gender stereotypes also contribute to the feminisation of poverty, They persist in the labour market in sectors such as engineering and childcare, leading to occupational segregation and the gender pay gap. Stereotypes and lower pay increase the risk for women to fall into poverty, particularly for older women, also due to low pensions,”
1. They concluded that China’s contemporary economic system represents a form of capitalism rather than market socialism because: financial markets exist which permit private share ownership—a feature absent in the economic literature on market socialism Indian government but mostly followed Dirigisme after independence until the early 1990s, when India moved towards a more market-based economy
2. LDC identification criteria and indicators
Measuring for income per capital , human assets index ,economic and environmental index
3.characteristics of developing nations are massive poverty when there proper facilities or health care center or poor feeding
Population growth is cause by high rate of birth and immigration and when a nation is over populated it cause poverty as well because government can’t provide provisions for all
Lack of infrastructure lack of amenities use to build a nation
Low per capital income which lead to low standard of living making d society suffer as well
Unemployment kills a country because when there is no work people engage in illegal works just survive in a country.
4. Yes thou
Because women goes through a lot dis same women were deprive from going to school women before are regarded for d kitchen and child bearing which is painful and poverty is carrying the face of a women .
NAME: ONWUEGBUNA PRECIOUS ONYINYE
REG NO: 2019/245507
DEPARTMENT: ECONOMICS
(1) The term third world countries was used in the 1955 Afro-Asian conference,held in Bandung, Indonesia. This conference marked the biginning of the political emergence of the third world countries. Two countries( China and India) with different social and economic systems played a major role in actualising this.
As a result of decolonization,most colonized countries became an independent state. European and North American domination,underdevelopment,rapid demographic growth etc. and they were called as the ‘Third World‘.The term ‘Third World’ referred to the one-third of the superpowers i.e.the United States and the Soviet Union.Third World,not a homogenous group,has different political system and level of economic development.TheThird World countries are also called developing countries because they are facing the economic,social and political problems like poverty,starvation,illiteracy and ethnic conflicts. This countries have opposed imperialism, colonialism, foreign intervention and have supported peaceful co-existence. Since they all have similar challenges and aspirations formed and called themselves a non- alignment countries. Non- alignment here means not belonging to any of the two world powers or Bloc(America and Russia)
(2) The set of indices developed by UN and other global agencies on how to measure development includes:
(i) UN’s Human Poverty Index (HPI): This index measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under five.
Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due to lack of education etc. Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered under developed.
(ii) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:
(a) Life expectancy
(b) Educational attainment and
(c) Adjusted real income
The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of many African Countries like USA,France,South Korea etc are examples of countries with high HDI.
According to World Bank, countries with a GNI of 11,905 US dollar and less are developing (specified by the World Bank,2015) and 12,275 US dollar (World Bank,2019)
(3) The following are the common charecteristics of Developing Nation:
(i) Low level of living: in almost all the developing countries, the populace of the country is faced with low level of living, as they are poor and unable to adequately provide there basic necessities of life.
(ii) Low Level of Productivity: One common feature that most developed countries posses, that developing countries does not posses is Economic growth which is measured based on a countries productive ability. In developing countries,resources are under utilized and this gives rise to low level of productivity. Even though developing countries Economy is Agrarian, the output from agricultural activities is still low due to employing local methods of agriculture.
(iii) High rate of Population growth and dependency burdens: Developing countries are mostly characterised by an incessant increase in their population. Not just that,the rate of the dependent population also rises due to increase in population without a corresponding increase in employment, production level etc.
(iv) High and rising level of Unemployment and Under employment: Due to low level of productivity, there is inadequate employment for the working population,hence this gives rise to high and rising level of Unemployment. The unavailability of jobs also renders most skilled labours in the country to venture into any job that comes there way,even though the job underscores his potential,in the bid to survive.
(v) Traditional,Rural social Structures: Developing nations are also characterised by Traditional,Rural Social Structures. Rural institutions and traditional settings are common found in the society.
(vi) Widespread of poverty: Poverty as a term is the inability of people to provide there daily necessity of food,shelter and clothing. The majority of people any developing countries are poor,just few are rich which gives rise to inequality.
(vii) Prevalence of Imperfect market: Due to low level of production,there are little or no producers of goods and services needed by the consumers in the developing countries. The little producers available hence increase the price outrageously in order to make excessive profit at the expense of the consumer. The producers are able to do this because there is no adequate competition in the market for the goods they are producing. This is a clear example of an imperfect market.
(viii) Substantial dependence on agricultural products and primary products export: Like earlier explained, developing nations are Agrarian in nature. They produce agricultural produce(primary products) such as cocoa, Kolanut, timber,cotton, palm kernel etc and export to foreign countries. The export of agricultural products for example amounted greatly in the GDP of Nigeria prior to the discovery and exploration of crude oil.
(ix) Dependence and Vulnerability: The societies of developing countries are faced with exposure to insecurity which limits the freedom of man. This is common in developing countries.
(x) Distorted Economics devoted to producing primary products for the developed world and to provide Market for their finished goods: Developing countries mostly produce primary products which they export to developed world as raw materials for there companies. The developed countries also exports the finished goods produced back to the developing countries for consumption. By so doing,the developing countries provides market for the developed countries finished goods.
(4) I agree with the argument that ‘poverty has the face of a woman’. This is because in the society,it is known that men are born to provide for and protect there family, while the women are meant to support the husband. In the course of providing for a family or an individual need,the father or male does it better since it is more like a natural responsibility of all men. The woman in the other hand might find it hard in performing this function especially when she is acting as single mother. This is evident in the society. Most women after losing there husband finds life hard while being the bread winner of the family. They get affected mentally, physically and even emotionally,in some cases they end up losing their life due to the pressure and pain they go through.
Another point is that, the society in most cases is unfair to the women. They are not given access to many Social activities such as Education, leadership etc that will bring out there innate ability. This impedes them from being able to function adequately in the course of fending for themselves. They are been made to depend solely on men which in most cases are there husband, for there survival.
Though it is not right to use the face of a woman to liken poverty,but it is also important to know that women are affected by poverty the most in the society than their male counterparts.
1.
China and India’s economic success has been largely interpreted as the result of thriving economic and political reforms.
China and India have become global economic powers. Even at the market exchange rate, China overtook Japan in 2010 as the world’s second largest economy.
China’s trade and financial activities, India’s emergence as a technology and innovation hub and both countries’ commerce and investment interactions with other developing nations have been covered extensively in all forms of media.
However, the political economy view of such phenomena cannot be overlooked, particularly in the case of China. Therefore, it is pertinent to emphasize the role of the government in designing and implementing successful development policies and structural reforms.
First, a key lesson from China’s experience is the adoption of a pragmatic approach to economic reforms (which was the turning point in China’s economic development) and the adaptive capacity of the country’s economic agents to this process.
Second, industrial policy has been at the heart of development policies and strategies in developing countries, although not particularly so in India. As in the case of other strategies and economic reforms, this policy’s implementation produced varied outcomes, with different levels of success.
Third, trade and the liberalization of commercial policies have played a primary role in the growth- success.
The interface of trade liberalization and domestic reforms has contributed to their success, akin to developing and transition countries. Decentralization and privatization of state-owned enterprises is another area of policy accomplishment. Also, the formulation of economy-wide development strategies should be a balanced outcome of the government and private agent decisions and choices, reflecting at the same time the country’s evolving and comparative advantages. These policies and processes should also adjust to the continually changing global economy.
Needless to say, growth and development strategies are challenged by the multiplicity or non-uniqueness of institutional arrangements needed for reforms to succeed and to achieve desirable ends. Many generations of reforms have led an international agenda, but the lessons provided by the experiences of countries such as the ‘Asian Giants’ China and India, and other successful emerging economies — such as Brazil and South Africa — might prove to be more inspiring and generate more positive spillovers for other developing countries due to their autonomous and uncompromised nature.
The development approaches and growth paths of China and India (and other emerging countries), highlight the impact on the global distribution of wealth. Rapid growth has been a key driver behind poverty reduction and the expected convergence of per capita incomes at the national and international levels. This has prompted the growth of a rapidly emerging ‘global middle class’ — especially in China and India — defined as a group of people who can afford, and demand access to, the standards of living previously only accessible to those in advanced economies.
2. World Bank classifies economies for analytical purposes into four income groups: low, lower-middle, upper-middle, and high income. For this purpose it uses gross national income (GNI) per capita data in U.S. dollars, converted from local currency using the World Bank Atlas method, which is applied to smooth exchange rate fluctuations.
Estimates of GNI are obtained from economists in World Bank country units who rely primarily on official data published by the countries; the size of the population is estimated by World Bank demographers from a variety of sources, including the UN’s biennial World Population Prospects.
Countries are classified each year on July 1, based on the estimate of their GNI per capita for the previous calendar year. Income groupings remain fixed for the entire World Bank fiscal year (i.e., until July 1 of the following year), even if GNI per capita estimates are revised in the meantime.
Groupings are primarily based on the regions used for administrative purposes by the World Bank. There are two main variants: one which includes all economies, and one which excludes high-income economies.
3.
i. Low levels of productivity: In developing countries, Resources are not fully utilized. The natural endowments are not harnessed to their full ability, Hence, there’s no absolute productiveness attached to developing countries
ii. High mortality rate: In developing countries, there’s usually high death rate. Due to inefficiency in health care and its facilities, proper enlightenment on environmental sanitization, Provision of good health services etc, The masses are faced with poor health care and services, Hence, There are higher chances of Death.
iii. Low levels of living: In developing countries, People experience poor living conditions ranging from what they eat, wear, drink and even including environment they stay. People in developing countries lack good standard of life
iv. Embezzlement, Mismanagement and misappropriation of funds by the government: In developing countries, the government usually lacks accountability, so there is no proper checkmating as regarding to public funds. Nigeria, for instance as a developing nation have had cases of inappropriate usage of funds, yet no one to be held accountable.
iv. poor Educational System: Developing countries lack proper educational facilities, hence poor educational system.
Education is such developing countries are not among top listed priority, hence they are given little or no care, so education faces many inadequacies in developing countries.
iv. High degree of insecurity: in developing countries, there’s high rate of banditry, terrorism and Fear of kidnappers .
Due to the fact that there’s no proper check as regarding security in developing countries, all soughts of fearful events do happen and make Strong security unable to take place.
4. Of all dangers caused by poverty, women are the most affected gender…
Following the statement above, i clearly stand to defend the fact that poverty has the face of a woman.
Globally, poverty remains a challenge: the World Bank estimates that 1.29 billion people live in absolute poverty; the sad fact is that about 70 per cent of them are women. In Pakistan, it is no different, but without a national census, it isn’t even possible to gauge the correct picture. Poverty is difficult to quantify: the methodology used by the government has been challenged by the World Bank and the UNDP, while independent organisations consider poverty to be above 28.3pc.
However, according to the Human Development Index, 2009, 60.3pc of Pakistan’s population lives on $2 per day. According to Unesco, 71pc of eligible girls did not attend secondary school in 2009.
Gender discriminatory practices shape poverty: as expected, more women are at the suffering end. They suffer poverty of opportunities far More than men.
To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Many factors cause women’s poverty including: lack of access to education, opportunities, childcare and fair income, sex-role stereotypes in paid work, changes in family composition such as divorce, health, violence and abuse, leaving gainful employment to caregive, and greater risk and increased poverty for women who are Aboriginal, non-white, disabled or queer.
women as the face of poverty results in children who are poor. Poverty among children is strongly linked to ill-health and poor academic achievement. By keeping women poor, we are also keeping children poor, making them sick, sabotaging their futures, contributing to crime, and perpetuating the cycle of poverty and violence. We need to work together to effect change social changes that will help not just some, but all women and children to succeed
ANSWERS:
1.The bandung conference in 1955 was the beginning of the political emergence of the third world. The first large scale Asian-African conference lasted from 18th apr,1955-24th apr,1955.Two of the world’s fastest growing economies, china and india also happened to be housed in the conference.
Indonesia president sukamo and india’s prime minister jawaharial nehru were key organizers, in his quest to build a non-aligned movement that would win the support of the newly emerging nations of Asian and Africa.
Mao zedong of china was also a key organizer, backed by his foreign minister zhou enlai; although mao still maintained good relation with the soviet-union in these years he had the strategies foresight to recognize that an anti-colonial nationalist and anti-imperial agenda would sweep Africa and Africa and he saw himself as the natural global leader of these forces as he, after all, had led a revolution china marked by anti-colonial nationalism.
The core principles of the bandung conference were political self-determination mutual respect for sovereignty, non- aggression, non-interference in internal affairs and equality. These issues were of central importance to all participants of then conference, most of which had recently emerged from colonial rule particularly india and china.
China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.
2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.
3.
Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
1.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
2.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
3.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
4.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
5.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
6.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.
7.High population growth: Developing nations tend to have higher population growth rates, which can put a strain on resources and limit economic growth.
8.Lack of access to education and healthcare: Developing nations often have lower levels of access to education and healthcare, which can limit the potential for economic development and improvement in the quality of life.
4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace.
Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.
Overall, I agree that poverty has the face of a woman, as the data and research clearly indicate that women are disproportionately affected by poverty and face unique challenges in breaking out of it
OKECHI CHINWEOKE MARIA
2019/250252
1. The Bandung conference in 1955 was the beginning of political emergence of the third world. As a result of decolonisation,the United Nations,at first was dominated by the European countries and countries of European origin was transformed into a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent debate.
2. Other indicators for measuring development and underdevelopment includes;
I. The Human Development Index(HDI)
Ii. Literacy rate
III. Life Expectancy
iv. Birth and Death rates
V. The general standard of living
3.i. Low Per Capita Income: The LPCI of a developing country is very low as compared to developed countries. This means the average income of per person income of developing country is little and it is not sufficient to invest or save.
Ii. Mass Poverty: most citizens of developing countries have been suffering from the problem of poverty. They are not able to feel even their basic needs.
III. Rapid Population Growth: developing countries have either a high population growth rate or a large size of population.
iv. Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agricultural sector. Most times, it is the only sole source of income and employment in such nations.
V. Lack Of Infrastructures: infrastructure Development like the development of transportation, communication, irrigation, power, financial institutions, etc. Is not well-developed in developing countries, even the developed infrastructures is also mismanaged and not distributed efficiently and equitably.
4. Yes, I agree that “Poverty has the face of a woman” It is because women face the burden of childbearing, child rearing and domestic unpaid labour. By which they are denied the opportunities for growth without access to adequate health care, education or income, and also forced to live in the tight bind of culture and tradition. Their vulnerability prevent them from advancing their innate capabilities.
ECO 361 ASSIGNMENT
QUESTION ONE
The Chinese Economy since the Start of the Reform and Open-door Policy
The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.
The obvious aim of this policy shift was to rebuild its economy and society that were devastated by the Cultural Revolution. The policy shift also appears to have been prompted by recognition that the incomes of ordinary Chinese were so low, in comparison with incomes in other Asian economies, that the future of the Chinese state and the communist regime would be in jeopardy unless something was done to raise living standards of its people through economic growth.
The government subsequently established a number of areas for foreign investment, including the special economic zones, open coastal cities, the economic and technology development zones, the delta open zones, the peninsula open zones, the open border citiees, and the high-tech industry development zones. The establishment of these zones provided the trigger for massive inflows of foreign investment, primarily from companies in Hong Kong and Taiwan. At the same time, China promoted its socialist market economy concept. The changes brought an entrepreneurial boom that resulted in the emergence of huge numbers of entrepreneurs and venture businesses within China.
Inflows of foreign capital, technology, and management knowhow enabled China to turn its vast labor resources and space to rapid economic growth. The shift to an open-door economic policy ushered in a period of high economic growth in the first half of the 1980s. The economy stagnated around the time of the Tiananmen Square Incident in 1989, but in the first half of the 1990s, China was again boasting high growth rates. Rapid economic growth was accompanied by a rise in per capita GDP (Fig. 1). In 1998, per capita income, though still only about US$770, was 14 times higher than in 1980. Therefore, it seems reasonable to conclude that Deng Xiaoping’s first goal, which was to improve the economic status of the people, has been accomplished.
2. Emerging Conficts
The positive consequences of the reform and open-door policy have been economic development and rising national incomes. Naturally, there have also been negative effects, and these have become increasingly obvious over the years. The problems outlined below are closely linked to the living standards of people in China.
First, there is now regional disparities in income levels, and the gap between rich and poor is now extremely wide. Under the socialist controlled economy, living standards were relatively low, but there was no big gap between rich and poor. The idea, taken from the writings of Mencius, that inequality is more lamentable than poverty, has applied throughout society. With the shift to the open-door policy, however, Deng Xiaoping indicated that it was acceptable for some regions to become wealthy before others. The result was a huge wealth disparity between coastal and inland regions, and between the cities and rural areas. Fig. 2 shows the per capita annual incomes of urban households in municipalities and provinces where incomes are relatively high, and those of peasant households in relatively poor provinces. Incomes in Guangdong Province are about eight times higher than incomes in Gansu Province.
Apart from a massive influx of foreign investment, entrepreneurial activity within China was also encouraged. This led to the formation of countless foreign-owned companies, private enterprises, individual enterprises, and other types of business, in addition to the existing state-owned enterprises and township enterprises. These newly established enterprises are classified as “enterprises under other ownership structures.” Many of them operate more efficiently and pay their employees more than state-owned or township enterprises (Fig. 3). This has been reflected in a growing income gap between the owners, directors, and executives of these enterprises and the employees of state-owned enterprises.
There are also clear gaps among urban office workers. At one extreme of this polarization are workers who can afford to own imported cars, while at the other are those who can afford only a bicycle. Some parents can easily afford to pay annual fees worth three million yen per child to send their children to the private boarding schools that have appeared in Beijing. Yet, on the other hand, there are aging employees of state-owned enterprises, laid off after decades of service and basically living on the street with a monthly benefit of around 3,000 yen. These are the realities of contemporary China.
The existence of this income disparity under a socialist regime is inevitably causing a variety of alarming social phenomena. Worship of money has spread among the people. Huge numbers of rural people have flooded into the cities in search of higher incomes, leaving many rural communities deserted and exposing China to the danger of future food shortages. There has been a breakdown of law and order in the cities, and corruption is rife among party officials and government bureaucrats. Government organizations are involved in tax evasion and smuggling, wwhile army, police, and court are operating businesses on the side. None of these phenomena are compatible with a socialist system, and they are indicative of inner contradiction in the political system.
China has maintained a one-party socialist dictatorship on the political level, while moving to a market system on the economic level. This conflict has exposed inadequacies in the legal system, and with each passing year, it has become increasingly apparent that there is no system of checks to prevent the arbitrary exercise of power by the Communist Party. The government has accelerated the shift to a market economic system, but it has so far failed to provide a clear definition of what is meant by a “socialist market economy.” For this reason, Party and government agencies no longer function as monitors and arbiters of the market. Instead, these agencies have been given leeway to participate in business activities as direct players in the market. This situation has led them to involve in monopolistic trading and insider trading. The accepted wisdom among modern Chinese is that “those in authority (quan) will be able to acquire money (qian).”
An extreme example of this problem relates to the export rebate system for value-added taxes. Since its implementation in 1994, the rebate rates have been lowered frequently, and the range of prices covered by the tax has also been changed. The fundamental reason for this is the fact that export rebates were greater than the amount of revenue generated by the value-added tax. Behind the scenes, exporters, customs officials, tax officials, and central and regional Party officials were conspiring to obtain massive rebates by means of fraudulent export documents.
The economic development gap between coastal cities and other regions has engendered a sense of grievance on the part of regional government officials, who have misappropriated government money to create hastily planned development zones in an attempt to attract foreign investment. The resulting shortage of public money has frequently meant that residents have not received payments to which they were entitled.
According to a Chinese newspaper, 158,000 senior Communist Party officials were punished for violating the Chinese Communist Party Constitution in 1998. Public prosecutors are currently investigating 35,000 cases of corruption involving 1,820 government agency officials with ranks of section manager or above. Still, those prosecuted represent only a small minority of the total number of people engaged in corrupt activities.
China is frequently criticized for delays in updating its legal system. Despite the enactment of numerous new laws, in step with the open-door policy, China has still not established the rule of law. The collapse of the Guangdong International Trust and Investment Corporation (GITIC) in October 1998 had focused attention on the proliferation of trust and investment companies and their financial problems. At the height of the boom in the 1980s, there were almost 1,000 of these companies. Yet, China has still not established a trust and investment company law.
The declining competitiveness of the state-owned enterprises, which are the actual and ideological pillars of the socialist economy, is a problem with serious implications for China’s economic and industrial structures. In essence, the state-owned enterprises were social microcosms created to feed the people and realize the ideals of socialism.
However, China began to move toward a market economic system under the reform and open-door policy. One result was an influx of foreign companies with resources that made them powerful competitors in the international marketplace. The changes also triggered an upsurge of entrepreneurial activity within China. Private and individual enterprises staked their survival on business efforts that enhanced their competitiveness. Meanwhile, the state-owned enterprises were unable to modify their corporate cultures that had evolved in China’s controlled economy. In the face of this onslaught, many lost their advantage in such areas as manufacturing production, domestic sales channels, and exports.
Inextricably linked to this problem is the state of the financial system. China’s main financial institutions are state-owned banks. Under the controlled economy, state-owned banks tended to see lending to state-owned enterprises as a mechanism for distributing fiscal funds. The state-owned enterprises that received these loans similarly regarded them less as loans than as allocations of public money.
When the economy was opened up, however, there was a massive inflow of foreign investment. The government was forced to establish financial policies and exercise macro-level controls, while state-owned banks were required to provide support to leading enterprises under the government’s financial policies, and to improve their credit assessment capabilities. Unfortunately, credit assessment capabilities of state-owned banks have not been developed, and there was a tendency to provide continuing credit to state-owned enterprises in an environment influenced by guidance or interference from the Communist Party and the government. Now that state-owned enterprises are experiencing financial problems, state-owned banks are inevitably being left with a growing mountain of non-performing loans. Most state-owned enterprises are in need of reform, and urgent steps are needed to reform a financial system that is still based on state-owned banks.
QUESTION TWO
The Kuhnian view of (normal) scientific progress is the result of productive discourse among
people who share a common understanding of the basic building blocks of their chosen field
of study. In most fields an important part of this shared common understanding—the broadly
agreed paradigm—is classifications. While the importance of classifications varies from field
to field, their ubiquity is testimony to their usefulness. For example, the IMF defines balance
of payments transactions as occuring between residents and non-residents of countries, where
a resident is defined as an economic unit with a center of economic interest in the country of
one year or longer. A one year length of stay in a country is an objective, if arbitrary,
benchmark for resident status as an economic but not legal concept. This simple definition
facilitates the construction of internationally comparable balance of payments data because
the resident/non-resident definition is broadly accepted among national statistical agencies
charged with compiling balance of payments data. In constrast, when it comes to classifying
countries according to their level of development, there is no criterion (either grounded in
theory or based on an objective benchmark) that is generally accepted. There are
undoubtedly those who would argue that development is not a concept that can provide a
basis upon which countries can be classified. While difficult conceptual issues need to be
recognized, the pragmatic starting point of this paper is that there is a need for such
classifications as evidenced by the plethora of classifications in use.
There are large and easily discernable differences in the standard of living enjoyed by
citizens of different countries. For example, in 2009 a citizen in Burkina Faso earned on
average US$510 as compared to US$37,870 for a Japanese citizen, and while in Burkina
Faso 29 percent of the adult population was literate and a new-born baby could expect to live
53 years, virtually all adults in Japan were literate and a Japanese new-born baby could
expect to live 83 years.2
To make better sense of such differences in social and economic
outcomes, countries can be placed into groups. Perhaps the most famous example thereof is
that of labeling countries as either developing or developed. While many economists would
readily agree that Burkina Faso is a developing country and Japan is a developed country,
they would be more hesitant to classify Malaysia or Russia. Where exactly to draw the line
between developing and developed countries is not obvious, and this may explain the
absence of a generally agreed criterion. This could suggest that a developing/developed
country dichotomy is too restrictive and that a classification system with more than two
categories could better capture the diversity in development outcomes across countries. Another possible explanation for the absence of a generally accepted classification system is
the inherent normative nature of any such system. The word pair developing/developed
countries became in the 1960s the more common way to characterize countries, especially in
the context of policy discussions on transfering real resources from richer (developed) to
poorer (developing) countries (Pearson et al, 1969). Where resource transfers are involved
countries have an economic interest in these definitions and therefore the definitions are
much debated. As will be discussed later, in the absence of a methodology or a consensus for
how to classify countries based on their level of development, some international
organizations have used membership of the Organization of Economic Cooperation and
Development (OECD) as the main criterion for developed country status.While the OECD
has not used such a country classification system, the preamble to the OECD convention
does include a reference to the belief of the contracting parties that “economically more
advanced nations should co-operate in assisting to the best of their ability the countries in
process of economic development.” As OECD membership is limited to a small subset of
countries (it has 34 members up from 20 members at its establishment in 1961), this heuristic
approach results in the designation of about 80–85 percent of the world’s countries as
developing and about 15–20 percent as developed.
An explicit system that categorizes countries based on their development level must build on
a clearly articulated view of what constitutes development. In addition, there must be a
criterion to test whether countries are developing or developed. A classification system
ordering countries based on their level of development is termed a development taxonomy
and the associated criterion is called the development threshold. The paper uses the
developing/developed country terminology in recognition of its widespread use and not
because it is considered appropriate.3
As shown above with the examples of Malaysia and
Russia, it may not be appropriate to fit countries into the constriction of a dichotomous
classification framework. Taxonomies with more than two categories will therefore also be
discussed. Development, of course, is a concept that is difficult to define and the paper first
briefly explores some aspects of the concept to better appreciate the challenges faced when
one constructs a development taxonomy. However, the focus of the paper is on taxonomies,
given a definition of development, and not on the concept of development per se. The paper
then goes on to compare and contrast the development taxonomies used by the United
Nations Development Programme (UNDP), the World Bank (Bank), and the IMF (Fund) and
against this background an alternative development taxonomy is proposed.
The World Bank’s Country Classification Systems:
The classification systems in the World Bank are utilized both for operational and analytical
purposes. The operational country classification system preceded the analytical classification
system, which draws upon the operational system.
Operational classifications
The World Bank’s International Bank for Reconstruction and Development (IBRD) has a
statutory obligation to lend only to credit-worthy member countries that cannot otherwise
obtain external financing on reasonable terms.8
This obligation required the IBRD to
designate a subset of its membership as eligible borrowers. Determination of eligibility was
initially judgmental, but in the early 1980s, the IBRD moved toward a more rule-based
system using a GNI/n criterion.9
Under this system, countries that borrow from the IBRD and
exceed a certain income threshold engage in a process that moves the country to nonborrowing status (when the process is completed the country is said to have ‘graduated’ from
IBRD-borrowing).
With the establishment in 1960 of its concessional financing entity, The International
Development Association (IDA) the World Bank identified two lists of IDA member countries. Part 1 countries were expected to contribute financially to IDA and Part 2
countries were other countries of which only a subset could be expected to draw on the
concessional resources.10 What was the basis for assigning a country to either Part 1 or
Part 2?
“Well, this presented the Bank with an interesting and rather difficult question. A large
number of economic criteria were made available by the Bank, the amount of capital
exported by the country, the gross national product of the country, and various other
things of that sort. These were reviewed by the Board of Directors. But, in the ultimate
analysis, the management of the Bank was invited to present a list of those countries
which, in their opinion, and based on the background [work] of the World Bank, should
be in category I and those which should be in category II. The management presented this
list, and the various executive directors who were negotiating the charter discussed it and
agreed that this was an adequate list.”
As the quote makes clear, the partitioning was a political exercise: a civilized understanding
among sovereign countries about how to label each other. However, the partition followed a
per capita income criterion with a few exceptions. Exceptions included Spain, which stated
that it was flattered to be asked to be in Part 1 but did not consider it belonged there, and
Japan (a capital exporter) that was placed in Part 1 despite its relatively low per capita
income level (Mason and Asher, 1973). While an income criterion was not used to demarcate
Part 1 and Part 2 countries, it was decided in 1964—at the time of the first IDA
replenishment of resources and against the background of a rapidly increasing membership—
to establish an income threshold as a test for eligibility to access IDA resources.12
In the 1970s operational guidelines used GNI/n thresholds as the basis for determining
preferential assistance based on Bank research that had found “a stable relationship between
a summary measure of well-being such as poverty incidence and infant mortality on the one
hand and economic variables including per capita GNI estimated based on the Bank’s Atlas
method on the other.”13 After the thresholds had been established, they were then adjusted annually in line with inflation. Therefore, the use of income thresholds is not because the
World Bank equates income with development, but simply because it considers GNI/n to be
“the best single indicator of economic capacity and progress.”14
Besides the threshold on IDA eligibility, the Bank has also established a threshold to afford
preferences to national companies in civil works procurement bids in Bank-financed projects
subject to international competitive bidding procedures, and another threshold to determine
which countries should be afforded more lenient borrowing terms from the IBRD.15 To these
three thresholds were added a fourth in the early 1980s relating to IBRD graduation (as
discussed above) and finally in 1987—at the time of the eighth IDA replenishment—the IDA
threshold was split up into a higher ‘historical’ and lower ‘operational’ threshold reflecting
scarcity of donor resources relative to demand, which did not allow IDA allocations to
countries with a per capita income level above the ‘operational’ threshold. For the 2011 fiscal
year (July-June), the operational thresholds range from US$995 (the civil works preference
threshold) to US$6,885 (the IBRD graduation threshold). While the thresholds are adjusted
for inflation, they are not adjusted for the trend growth in global real income, and relative to
average world income, these thresholds have witnessed a secular decrease (Table 1). (After
the 1989 fiscal year, there are small differences in the inflation adjustments made to the
various thresholds presumably to address various operational needs) Thus, these operational
thresholds are absolute rather than relative thresholds.
The IMF’s Country Classification Systems:
Similar to the World Bank, the classification systems in the Fund are used for both
operational and analytical purposes.
Operational classifications
At the 1944 international conference at Bretton Woods—convened to draft the IBRD’s and
the IMF’s Articles of Agreements—India proposed that the Fund’s Articles include language
calling for the Fund “to assist in the fuller utilization of the resources of economically
underdeveloped countries” (Horsefield, 1969, page 93). South Africa and the United
Kingdom opposed the proposal mainly on the ground that development was a matter for the
Bank and not the Fund. Thus, the IMF’s Articles of Agreements did not contain any
distinction among its membership based on development. Similarly, operational policies
related to financial assistance, surveillance, and technical assistance did not discriminate
among members based on their level of development for the first three decades of the Fund’s
existence. For example, the Compensatory Financing Facility and the Buffer Stock Financing
Facility, established in 1963 and 1969 respectively, provided resources for specific balance of payments needs mainly of interest to developing member countries, but eligibility to
access these facilities was open to the full membership (Garritsen de Vries, 1985).
The Fund responded to the oil price shock of 1973 and the accompanying international
economic dislocation with the establishment of two oil facilities in 1974 and 1975 (Garritsen
de Vries, 1985). In line with standard Fund practice, eligibility for use of the facilities was
open to the full membership, but the facilities were special in that their resources came from
borrowing on commercial terms (mostly from oil-exporting countries) and charges on Fund’s
financial assistance under these facilities were therefore higher than charges on quota-based
resources. To assist developing countries meet their debt service obligations stemming from
drawings under the oil facilities, the Fund established in 1975 a Subsidy Account through
which voluntary contributions from industrial and oil-exporting countries would subsidize
the financing charges. The Fund administered the Subsidy Account as a trustee. For the
purpose of identifying beneficiaries of the Subsidy Account, the Fund relied on a list of 41
countries drawn up by the UN as having been “most seriously affected by the current
situation” (i.e., the oil and food price hikes in 1972–73).20 With the establishment of the
Subsidy Account, the Fund, for the first time, distinguished among its members.
Also in response to the oil price shock of 1973, the US proposed in 1974 the establishment of
a Trust Fund at the Fund (Garritsen de Vries, 1985). The purpose of the Trust Fund was to
provide concessional balance of payments support to developing members following the
expiry of the oil facilities. In 1976, the Fund began a series of gold sales. The profits from
these gold sales were then placed in the Trust Fund from where disbursements were made
either as concessional loans or as direct distributions. Whereas eligibility for Trust Fund
loans was limited to 61 members that had per capita income of no more than SDR 300 in
1973, distributions were to be “for the benefit of developing countries.” This language was
contained in a 1975 Interim Committee’s communiqué, but it was left for the IMF’s
Executive Board to decide on an operational definition of developing countries. Most Fund
members—107 countries—insisted on their inclusion on the list of developing countries,
something that remaining members resisted. A compromise by the Fund’s Managing
Director—to designate all 107 countries as developing on the understanding that the 46
members ineligible for Trust Fund loans would forego a part or the full share of the gold
profits—was not accepted. After two years of discussions that yielded no results, the Fund’s
Executive Board in 1977 in a close vote decided to designate 103 members as developing
countries (the 107 countries with the exception of Greece, Israel, Singapore, and Spain).
However, Singapore remained concerned about its classification for the purposes of the
General Agreement on Tariffs and Trade and it presented to the Fund detailed statistics to
support its view that per capita income level was not a reliable indicator of development. Based on this submission, the Board agreed to include Singapore in a final list of 104
developing countries.
In 1978, the second amendment to the Articles of Agreement was adopted. The amended
articles recognized that “balance of payments assistance may be made available on special
terms to developing members in difficult circumstances, and that for this purpose the Fund
shall take into account the level of per capita income.”21 In 1986, the Fund then established
the Structural Adjustment Facility to make concessional resources available by recycling
resources lent under the Trust Fund. In establishing the facility, the Fund decided that “all
low-income countries eligible for IDA resources that are in need of such resources and face
protracted balance of payments problems would be eligible initially to use the Fund’s new
facility” (Boughton, 2001, p. 649). The carefully drafted decision made it clear that it was the
Fund, and not IDA, that had responsibility for any future changes in the list of eligible
countries. Over the years, this concessional facility has been expanded, refocused, and
renamed. Currently, the Fund’s concessional assistance comes from the Poverty Reduction
and Growth Trust (PRGT) and a new framework for determining PRGT eligibility was
agreed in early 2010. The new framework determines eligibility based on criteria relating to
per capita income, market access, and vulnerability. Based on the new framework, the
number of PRGT-eligible countries was red
uced from 77 to 71. These countries are
recognized by the Fund to be “low-income developing countries.”
QUESTION THREE
Following are some of the basic and important characteristics which are common to all developing economies:
An idea of the characteristics of a developing economy must have been gathered from the above analysis of the definitions of an underdeveloped economy. Various developing countries differ a good deal from each other. Some countries such as countries of Africa do not face problem of rapid population growth, others have to cope with the consequences of rapid population growth. Some developing countries are largely dependent on exports of primary products, others do not show such dependence, and others do not show such dependence.
Some developing countries have weak institutional structure such as lack of property rights, absence of the rule of law and political instability which affect incentives to invest. Besides, there are lot of differences with regard to levels of education, health, food production and availability of natural resources. However, despite this great diversity there are many common features of the developing economies. It is because of common characteristics that their developmental problems are studied within a common analytical framework of development economics.
Characteristic # 1. Low Per Capita Income:
The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan. According to these estimates for the year 1995, per capita income was $340 in India, $ 620 in China, $240 in Bangladesh, $ 700 in Sri Lanka. As against these, for the year 1995 per capita income was $ 26,980 in USA, $ 23,750 in Sweden, $ 39,640 in Japan and 40,630 in Switzerland.
It may however be noted that the extent of poverty prevailing in the developing countries is not fully reflected in the per capita income which is only an average income and also includes the incomes of the rich also. Large inequalities in income distribution prevailing in these economies have made the lives of the people more miserable. A large bulk of population of these countries lives below the poverty line.
For example, the recent estimates reveal that about 28 per cent of India’s population (i.e. about 260 million people) lives below the poverty line, that is, they are unable to get even sufficient calories of food needed for minimum subsistence, not to speak of minimum clothing and housing facilities. The situation in other developing countries is no better.
The low levels of per capita income and poverty in developing countries is due to low levels of productivity in various fields of production. The low levels of productivity in the developing economies has been caused by dominance of low-productivity agriculture and informal sectors in their economies, low levels of capital formation – both physical and human (education, health), lack of technological progress, rapid population growth which are in fact the very characteristics of the underdeveloped nature of the developing economies. By utilising their natural resources accelerating rate of capital formation and making progress in technology they can increase their levels of productivity and income and break the vicious circle of poverty operating in them.
It may however be noted that after the Second World War and with getting political freedom from colonial rule, in a good number of the underdeveloped countries the process of growth has been started and their gross domestic product (GDP) and per capita income are increasing.
Characteristic # 2. Excessive Dependence on Agriculture:
A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
In the present-day developed countries, the modern industrial growth brought about structural transformation with the proportion of working population engaged in agriculture falling drastically and that employed in the modern industrial and services sectors rising enormously. This occurred due to the rapid growth of the modern sector on the one hand and tremendous rise in productivity in agriculture on the other.
The dominance of agriculture in developing countries can be known from the distribution of their workforce by sectors. According to estimates made by ILO given in Table 4.1 on an average 61 per cent of workforce of low-income developing countries was employed in agriculture whereas only 19 per cent in industry and 20 per cent in services. On the contrary, in high income, that is, developed countries only 4 per cent of their workforce is employed in agriculture, while 26 per cent of their workforce is employed in industry and 70 per cent in services.
In India at the time of independence about 60 per cent of population was employed in agriculture and with six decades of development the percentage of population engaged in agriculture has fallen to around 50 per cent in 2011-12. However, it is significance to note that the increase in population in non-agriculture sector has found employment not in organised industry and services sector but in informal sector where labour productivity is as low as in agriculture.
Besides, it is important to note though at present (2011-12) agriculture employees 50 per cent of workforce, it contributes only 13 per cent to its GDP. This shows labour productivity in agriculture and informal sector in the Indian economy, as in other developing economies, is due to the fact that the employment in organised industrial and services sector has not grown at a rate commensurate with the increase in population despite recording a higher growth rate in output.
This is due to use of capital-intensive technologies in the organised industrial and services sectors. With the growth of population in the last few decades the demographic preserve on land has increased resulting in fall in land-labour ratio. With this agricultural holdings have become sub-divided into small plots which do not permit the use of efficient methods of cultivation.
In developing countries today, despite their modern industrial growth in the last four decades not much progress has been achieved towards structural transformation in the occupational structure of their economies. Due to the use of highly capital-intensive techniques very few employment opportunities have been created in their organised industrial and services sectors.
When increasing population cannot obtain employment in the modern non-agricultural occupations, such as industry, transport and other services, then the people remain on land and agriculture and do some work which they are able to get. This has resulted in disguised unemployment in agriculture. During the last some decades because of population explosion the pressure of manpower on land in the developing countries has largely increased.
Characteristic # 3. Low Level of Capital Formation:
The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
Since then there has been substantial increase in the rate of saving and investment in the developing countries. However, the quantity of capital per head is still very low in them and therefore productivity remains low. For example, in India rate of investment has now (2012-13) risen to about 35 per cent but it still remains a poor country with low level of productivity. This is because as a result of rapid population growth, capital per head is still very low.
The low level of capital formation in a developing country is due both to the weakness of the inducement to invest and to the low propensity and capacity to save. The rate of saving in developing countries is low primarily because of the low level of national income. In such an economy, the low level of per capita income limits the size of the market demand for manufacturing output which weakens the inducement to invest. The low level of investment also arises as a result of the lack of dynamic entrepreneurship which was regarded by Schumpeter as the focal point in the process of economic development.
At the root of capital deficiency is the shortage of savings. The level of per capita income being quite low, most of it is spent on satisfying the bare necessities of life, leaving a very little margin of income for capital accumulation. Even with an increase in the level of individual incomes in a developing economy, there does not usually follow a higher rate of accumulation because of the tendency to copy the higher levels of consumption prevailing in the advanced countries. Nurkse has called this as “demonstration effect”. It is usually caused through media like films, television or through foreign visits.
Generally, there exist large inequalities in the distribution of incomes in developing countries. This should have resulted in a greater volume of savings available for capital formation. But most often the sector in which the greatest concentration of incomes lies is the one which derives its income primarily from non-entrepreneurial sources such as unearned incomes of rents, interests and monopoly profits.
The attitudes and social values of this sector are often such that it is prone to use its income for ‘conspicuous consumption’, investment in land and real estate, speculative transactions, inventory accumulation and hoarding of gold and jewellery. If these surpluses are channelled into productive investment, they would tend to increase substantially the level of capital formation.
Characteristic # 4. Rapid Population Growth and Disguised Unemployment:
The diversity among developing economies is perhaps nowhere to be seen so much in evidence as in respect of the facts of their population in respect of its size, density and growth. While we have examples of India, Pakistan and Bangladesh with their teeming millions and galloping rates of population growth, there are the Latin American countries which are very sparsely populated and whose total population in some cases numbers less than a single metropolitan city in India and China. In several newly emerging countries of Africa too and in some of the Middle Eastern countries the size of their population cannot be regarded as excessive, considering their large expanse. The South- East and Eastern Asia, on the other hand, have large populations.
However, there appears to be a common feature, namely, a rapid rate of population growth. This rate has been rising still more in recent years, thanks to the advances in medical sciences which have greatly reduced the death rate due to epidemics and diseases. While the death rate has fallen sharply, but there has been no commensurate decline in birth rate so that the natural survival rate has become much larger. The great threat of this rapid population growth rate is that it sets at nought all attempts at development in as much as much of the increased output is swallowed up by the increased population.
One important consequence of this rapid rate of population growth is that it throws more and more people on land and into informal sector to eke out their living from agriculture, since alternative occupations do not simultaneously develop and thus are not there to absorb the increasing numbers seeking gainful employment. The resultant pressure of population on land and in informal sector thus gives rise to what has been called “disguised unemployment”.
Disguised unemployment means that there are more persons engaged in agriculture than are actually needed so that the addition of such persons does not add to agricultural output, or putting it alternatively, given the technology and organisation even if some of the persons are withdrawn from land, no fall in production will follow from such withdrawal. As a result, marginal productivity of a wide range of labourers employed in agriculture is zero.
Characteristic # 5. Lower Levels of Human Capital:
Human capital – education, health and skills – are of crucial importance for economic development. In our analysis of human development index (HDI) we noted that there is great disparity in human capital among the developing and developed countries. The developing countries lack in human capital that is responsible for low productivity of labour and capital in them.
Lack of education manifests itself in lower enrolment rate in primary, secondary and tertiary educational institutions which impact knowledge and skills of the people. Lower levels of education and skills are not conducive for the development of new industries and for absorbing new technologies to achieve higher levels of production. Besides, lack of education and skills makes people less adaptable to change and lowers the ability to organise and manage industrial enterprises. Further, in countries like India, advantage of demographic dividend can be taken only if the younger persons can be educated, healthy and equipped with appropriate skills so that they can be employed in productive activities.
The data of various education indicators is given in Table 4.3. It will be seen from this table that as compared to high income countries enrolment in secondary and tertiary educational institutions was 38% and 63% of person of relevant age group in 2009 as compared to 100 per cent in high-income developed countries.
Similarly, enrolment rate in tertiary educational institutions which impart higher liberal, managerial and technical education in developing countries of low income and lower middle income is 6 per cent and 19 per cent respectively of the relevant age group as compared to 67 per cent in high-income developed countries.
Health:
Likewise, health, the other important human resource, is a key factor that determines efficiency or productivity of the people. The people who are undernourished and malnourished often suffer from sickness cannot be efficient and therefore cannot contribute much to the increase in productivity.
Besides, health enjoyed by the people is good in itself as it directly increases the happiness and welfare of the people, Lower health of the people of developing countries is manifested lower life expectancy at birth, higher mortality rate of children under 5 years age, undernourishment and malnourishment (i.e., underweight children) of the people and access to improved sanitation facilities. Though health conditions in developing countries have greatly improved in the last some decades of development, there are still important differences between them and developed countries.
Characteristic # 6. Dualistic Structure of the Underdeveloped Economies:
An important feature of developing economies, especially those which are marked by surplus labour is that they have a dualistic structure. This dualistic character of these economies has been held to be the cause of unemployment and underemployment existing in them. Keeping in view this dualistic structure of less developed economies, important models of income and employment have been propounded.
Famous Lewis model of economic development with unlimited supplies of labour and Fei-Ranis model of “Development in a Labour Surplus Economy” explain how in dualistic economies, the unemployed and underemployed labour in the traditional sector is drawn into a modern high productivity sector.
The concept of dualism was first of all introduced into the development analysis by Dr. J.H. Boeke but he emphasised the social dualism, according to which there is sharp contrast between the social systems characterising the two broad sectors of the economy, one in which the original social system with its subsistence or pre-capitalist nature, limited wants, non-economic behaviour and low level of economic and social welfare prevails, and the other where imported capitalist system with its modern system of industrial organisation, wage employment, unlimited wants and positive behaviour to economic incentives exists.
However, it is technological dualism rather than Boeke’s social dualism which has an important bearing on the problem of economic growth and surplus labour in the developing countries. According to the concept of technological dualism, the important difference between the traditional and the modern sectors lies in the difference between the production techniques or technologies used. In the small modern sector consisting of large-scale manufacturing and mining which provides wage employment, highly capital-intensive techniques imported from the developed countries are used.
On the other hand, in the large traditional sector covering agriculture, handicrafts and allied activities, in which there exist extended family system and self-employment, labour-intensive technology is generally used. As a result of the difference in technologies used, the labour productivity and levels of earnings in the modern sector are much higher than those in the traditional sector.
Moreover, since the technology used in the modern sector is highly capital-intensive, the growth of this sector has not absorbed adequate amount of labour in high productivity and high wage employment. With the explosive rate of growth of population and labour force and the limited creation of employment opportunities in the modern sectors because of the highly capital-intensive technology, surplus labour has emerged in the agriculture and services. It has been possible for agriculture to contain the surplus labour because of the prevalence of extended family system in which both work and income are shared by the family members.
We thus see that the problem of unemployment and underemployment in less developed economies has been intensified by the technological dualism caused by the use, in the modern manufacturing and mining, of capital-intensive technology imported from abroad which is wholly unsuitable to the factor endowments of these less developed economies with abundant labour and small capital.
The unemployment and underemployment in these less developed economies are not only due to the slow growth of capital or low rate of investment, it is also due to the highly capital-intensive techniques used in the modern sector. This technological dualism with the fact that modern sector has limited labour-absorptive capacity contains important implications for development strategy to be framed for less developed countries like India with surplus labour.
QUESTION FOUR:
“Yes Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
The risks of increasing poverty grow in parallel with the number of women-headed households. Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
It is no surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.
Unsurprisingly, few poor women have hope of escaping this poverty as there are so many odds stacked against them. Despite laws that favour them, even richer women are regularly denied land inheritance by emotional coercion, forced marriage and even by ‘marriage’ to the Quran.
The current political situation prevailing in the country presents a mixed picture for women’s progress and development. On the one hand, there are several forward-looking laws and amendments, widespread provision of safety nets like the Benazir Income Support Programme and increased school enrolment for girls. On the other hand is the snail’s pace at which the bureaucracy moves to implement those laws. Then again, there’s society’s stubbornly ‘eyes shut’ attitude to women’s rights and progress, the lack of recognition that women’s progress requires an acceptance of their constitutionally guaranteed equal status as citizens of this country.
If women are to progress and participate effectively in the economy, they must receive equal education, equal training, in rural and urban sectors and equal dignity and income. Pakistan cannot achieve progress on the efforts of less than half its population.
ONYEMACHI CHINAZA CHIDERA
2019/241601
ECONOMICS
1. The Bandung conference in 1955 was the beginning of political emergence of the third world. As a result of decolonisation,the United Nations,at first it was dominated by the European countries and countries of European origin but was gradually transformed into a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent debate.
2.Infant mortality rate
•Life expectancy
•Birth and death rates
3. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
√ Dependence on exports of primary commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector.
√ Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. Poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
4. Yes, Poverty can increase violence. Particular groups of women, including women and girls living in poverty, face multiple forms of discrimination, and face increased risks of violence as a result. And those who experience domestic or intimate partner violence have fewer options to leave violent relationships, due to their lack of income and resources.
[1/26, 22:15] Annie Stacy ✨: NAME: AGBO ANNASTECIA ONYEDIKACHI
REG NO: 2019/246655
DEPARTMENT: SOCIAL SCIENCE EDUCATION
UNIT: ECONOMIC EDUCATION
COURSE TITLE DEVELOPMENT ECONOMICS
COURSE CODE:ECO 361
TOPIC: DEVELOPING COUNTRIES
ANSWERS
1. CHINA AND INDIA MAJOR ROLE IN THIRD WORLD:
The global economy is undergoing a profound and momentous shift. The first half of the 21st century will undoubtedly be dominated by the con- sequences of a new Asian dynamism China is likely 10 become the second biggest economy in the world by 2016, and India the third largest by 2035, A cluster of other countries in the Asian region, such as Thailand and Vietnam, are also growing rapidly These newly dynamic Asian economies can collectively be characterised as the “Asian Drivers of Global Change”. The economic processes they engender are likely to radically transform regional and global economic, political and social interactions and to have a major impact on the environment. This is a critical “disruption” to the global economic and political order that has held sway for the past five decades. It is reshaping the world as we know it, beralding a new “Global-Asian” era.
ROLE OF CHINA AND INDIA FOR GLOBAL CHANGE
As mentioned above, the two key Asian Driver economies are China and India. But they reflect very different growth paths. China is integrated into an outward-oriented regional economy, involving fine divisions of labour in many sectors. By contrast (at least until now) India represents much more of a “standalone” economic system. Yet, not with standing these differences in structure, they pose major and distinct challenges for the global and developing economies,
As China and India are currently integrating more than one billion people into the from the higher purchasing power of their incomes thanks to lower prices for labour-rich products from China and India may indeed be damaging for some local producers, goods. To be sure, such analysis ignores opportunities for diversification away from especially labour-intensive local industries such as garment, thus impairing thetraditional exports, i.e. potential rather than actual competition. Imports of specific less prominent in Africa than in other developing regions; and urban consumers benefit
prices of which are dropping. However, labour-intensive manufacturing industries are global labour pool, competition is intensifying in tradable labour-rich goods, the relative development of nascent non traditional industries and putting diversification prospects in jeopardy.
2. DEVELOPING COUNTRIES
The countries in which the process of development has started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Here we will discuss the different characteristics of developing countries of the world. Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
The main social indicators of development include education, health,employment rates and gender equality. Some examples of social indicators of development include: Education levels – for example how many years of schooling children have. Health – often measured by life expectancy.
3. MAJOR CHARACTERISTICS OF DEVELOPING COUNTRIES:
1. LOW PER CAPITAL REAL INCOME:
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
2. MASS POVERTY
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
3. RAPID POPULATION GROWTH
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
Developing countries have either a high. population growth rate or a larger size of population. There are different factors behind higher population growth in ▲ developing countries. The higher child
4. THE PROBLEM OF UNEMPLOYMENT AND UNDEREMPLOYMENT:
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage
themselves in inferior jobs due to the non- availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
5. EXCESSIVE DEPENDENCE ON AGRICULTURE
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
6. TECHNOLOGICAL BACKWARDNESS
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital- output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
7. DUALISTIC ECONOMY
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
8. LACK OF INFRASTRUCTURES
Infrastructural development like the development of transportation,communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
9. LOWER PRODUCTIVITY
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support in developing nations, une protivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
10. HIGH CONSUMPTION AND LOW SAVING
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation.Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world.
4. POVERTY HAS A FACE OF A WOMEN:
Women constitute a majority of the poor and are often the poorest of the poor. The societal
disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience – addressing it requires a gender analysis of norms and values, the division. of assets, work and responsibility, and the dynamics of per and control between women men in poor
of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for pro- ductive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productiv sources. There is also ample evidence to show that the women are more
disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly in- fluence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.
WOMEN’S EXPERIENCE OF POVERTY
Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income-earning
opportunities.Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty.
A focus on poor women as distinct from men in efforts to reduce poverty is justified because women’s paid and unpaid work is crucial for the survival of poor households.
WOMEN ARE ECONOMIC ACTORS:
They produce and process food for the family; they are the primary caretakers of children, the elderly and the sick; and their income and labor are directed toward children’s education, health and well-being. In fact, there is incontrovertible evidence from a number of studies conducted during the 1980s that mothers typically spend their income on food and health care for children, which is in sharp contrast to men, who spend a higher proportion their income for a child will survive in urban Brazil is almost 20 times greater when the household income is controlled by a woman rather than by a man, Yet women face significant constraints in maximizing their productivity. They often do not have equal access to productive inputs or to markets for their goods. They own only 15 percent of the land worldwide, work longer hours than men and earn lower wages. They are overrepresented among workers in the informal labor market, in jobs that are seasonal, more precarious and not protected by labor standards.
Despite this, policies and programs that are based on notions of a typical household as consisting of a male bread-winner and dependent women and children often target men for the provision of productive resources and services. Such an approach widens the gender-based productivity gap, negatively affects women’s economic status, and does little to reduce poverty. Addressing these gender biases and inequalities by intentionally investing in women as economic agents, and doing so within a framework of rights that ensures that women’s access to and control over productive resources is a part of their entitlement as citizens, is an effective and efficient pov strategy.
Gender inequality is one of the oldest and most pervasive forms of inequality in the world. It denies women their voices, devalues their work and make women’s position unequal to men’s, from the household to the national and global levels.
Despite some important progress to change this in recent years, in no country have women achieved economic equality with men, and women are still more likely than men to live in poverty.
A. LOW WAGE: Across the world, women are in the lowest-paid work. Globally, they earn 24 percent less than men and at the current rate of progress, it will take 170 years to close the gap. 700 million fewer women than men are in paid work.
B• LACK OF DECENT WORK. 75 percent of women in developing regions are in the informal economy – where they are less likely to have employment contracts, legal rights or social protection, and are often not paid enough to escape poverty. 600 million are in the most insecure and precarious forms of work.
C UNPAID CARE WORK. Women do at least twice as much unpaid care work, such as childcare and housework, as men – sometimes 10 times as much, often on top of their paid work. The value of this work each year is estimated at at least $10.8 trillion more than three times the size of the global tech industry.
D. LONGER WORKDAYS. Women work longer days than men when paid and unpaid work is counted together. That means globally, a young woman today will work on average the equivalent of four years more than a man over her lifetimes.
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
As a result of decolonization, the united nations at first numerically dominated by European countries and countries of European origin ,was gradually transformed into something if a third world forum
With increasing urgency, the problem of underdevelopment then became the focus of a permanent, although essentially academic debate. Despite the debate, the unity of the third world remains hypothetical, expressed mainly from the platforms of international conferences.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Rise in Real per Capita Income: One of the factors that measure the economic development of a nation is the rise in real per capita income.There’s a perception that whenever the income of individual increases than it’s real income increases.And when this happens the person is happy and prosperous. But there are some limitations to this.These limitations through per capita income do not determine whether the rise is due to equal distribution or unequal distribution.Same is the case with the quality of goods and services being provided and consumed. Further, the quality of public goods also affects economic welfare.
Quality of Life and Expectancy: When the basic facilities like water, electricity, and housing are available to anyone that the quality of life is considered as good in that nation.Here the measuring factor is the needs of the people. These needs are basic needs like access to health, sanitation, education, nutrition, etc. For this, the main factor is the infant mortality rate. This is the death rate of a child who is less than a year old. While life expectancy is the average life of the population that lives.Real Gross National Product: As mentioned above, GNP, as well as GDP, are the measuring factors for economic development of a nation. Increase in both of these ensures that the larger availability of the good and services in that country. If this supports the standard of living of the people than it increases the economic conditions of the nation.But there are some limitations to this as well. Like the increase in the size of GDP does not directly means the more availability of services and goods. Whenever the GDP is calculated for the current prices, there may be an increase due to price rise. This does not mean the availability of goods and services have increased.
Human Development Index: It includes several factors like long and healthy living, the welfare of the people, etc. This index also includes the standard of living of people, literacy rate, and purchasing power parity in terms of real income.
Gender-related development index: This is popularly known as GDI. This is used to measure gender inequalities by measuring three basic dimensions of human development. They are education, health, and economic resources. They measure education by calculating expectancy years for schooling for males and females. While health measures the male and female life expectancy during the time of birth.
Poverty Index: The poverty index which is otherwise called multidimensional poverty index aka MPI helps in identifying various factors. These various factors are health, the standard of living, and education
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
1. Low Per Capita Real Income: Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments. It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
2. High Population Growth Rate: Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
3. High Rates of Unemployment: In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
4. Dependence on Primary Sector: Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
5. Dependence on Exports of Primary Commodities: Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
In my own opinion,I would agree with the fact that poverty has the face of a woman. This is because the female gender looks weaker than their male counterparts. Women face the responsibilities of child bearing and taking care of their children and making sacrifices for them to get quality education, living comfortably and providing basic needs for her children at her own expense therefore looking tattered and stressed.
Men are always not bothered babysitting their children, they go out leaving the woman alone the sole responsibility of taking care of children. This is why in most cases, you would always see pictures of women and their malnourished children looking for aid.
In some parts of Africa, women are being the right to education because they see it as a waste of resources since she would still end up in her husband’s house and therefore become a complete housewife. In areas of education, the girls has always been suffering more than boys because we get to see situations whereby parents drop out their female daughters from school and allow the males to continue due to lack of funds/finances.
Poverty wears the face of a woman because women don’t have say and are alway forced into early marriages with little or no knowledge about marriage and end up giving birth to 10 children after 10 years of marriage.
In conclusion, poverty has a female face and the global economic downturn will have a significant impact on women as more of them lose jobs, and are forced to manage shrinking households.
Assignment
1.By drawing a parallel with the third estate, the French demographer Alfred Sauvy created the phrase “tiers monde” in 1952.The third world, according to Sauvy, is nothing and aspires to be something. According to the phrase, the third world is exploited similarly to how the third estate was exploited, and just like the third estate, it is headed toward revolt. It also conveys Sauvy’s second thesis, which is that the third world is not aligned with either the industrialized capitalist world or the industrialized communist bloc.By the end of the 1950s, the phrase was frequently used in the french media to refer to the underdeveloped countries of Asia, Africa, Oceania, and Latin America. A group of social scientists affiliated with Sauvy’s National Institute of Demographic Studies in Paris published a book titled “tiers de monde” in 1956.
2.A country’s discernible degree of progress is indicated by its HDI (Human Development Interest).Gross Domestic Product (GDP), which measures both domestically produced items and those exported to other nations, indicates a country’s level of development.The special drawing right(SDR) deflator is used as a measure of world inflation for annual adjustments to operational and analytical income threshold and world Bank Atlas method estimates of GNI per capita.
3i.Low level of living:Individual couldn’t afford the basic necessities of life.They was high rate of malnutrition and sickness.
ii.Low level of productivity:Resource and skills are not managed and utilize well.The wrong people are given jobs which makes them nonchalant they by causing low level of productivity.
iii.High rate of population growth and dependency burden:Women tends to give birth to more children because they are jobless and end up being housewives.Individual depend on the Government for all their needs.
iv.High and rising level of unemployment and under employment:Lack of good companies and industries tend to increase unemployment.Government should encourage individual to indulge in skill acquisition by providing seminars and skill acquisition centers.
v.Widespread of poverty:A country that’s is underdeveloped tend to experience high rate of poverty because there’s is no job,population increases,cost of living is high and poor government.
4..To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
2019/244161
1.)The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.
2.
Some examples of social indicators of development include:
Education levels – for example how many years of schooling children have.
Health – often measured by life expectancy.
Employment Rates
Gender equality
Peacefulness
Democracy
Corruption
Media freedoms
Civil Rights
Crime/ social unrest
Suicide Rates
Composite indicators of all of the above
3.
Even though developing nations have very different backgrounds in terms of resources, history, demography, religion and politics, they still share a few common characteristics.
i. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
ii. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
iii. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
iv. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
v.Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
4.
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities . are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality.
UCHEOMA DANIELLA CHIMDINDU
2019/241763
ECONOMICS DEPARTMENT
Danympompo123@gmail.com
Answer 1
The Bandung also known as the Afro-Asian conference in Indonesia 1955 is said to be one of the most important conferences held in the twentieth century. One important achievement of this conference is the beginning of the political emergence of the third world countries. On the 18th of April 1955 through the 24th, twenty-nine countries from Asia and Africa came together in Bandung Indonesia with India and China – two countries with opposing social and economic system at the forefront during the time of a cold war between the United State and The Soviet Union and a movement for decolonization to discuss the promotion of African and Asian economy as well as the opposition of colonialism and neocolonialism. The countries in attendance were the ones who had just gotten their independence from colonial rule and pledged their support for other countries yet to be independent of which are majorly African nations. It was a French writer Alfred Suavy who coined the term “Third World” to refer to these countries.
The countries ensured that the decision they were going to arrive at was transparent and without bias for either of the countries involved in the war despite being enticed by the United State. The meeting was concluded on the 24th with the presentation of a document containing the declaration of world peace and cooperation. The communiqué entitled ten primary conclusions which also aided in the promotion of the third world political emergence.
The declaration made at this conference had a major impact in the United Nations operations which was formerly dominated by European countries with England and France at the top. There was transformation which would then involve these countries to participate in the UN activities. Furthermore, the articulation of the political ideal of the third world was an alternative to the capitalist economic development of the United states and the Communist economic development of the Soviet Union.
Answer 2
The Gross National Income GNI is the sum of a country’s Gross Domestic Product GDP and net income from abroad. It shows the value produced by a country either domesticated or abroad and has been used to classify countries. Developing countries are defined according to their GNI per capita per year. According to the World Bank in 2015, these countries (developing countries) have GNI of $11,905 and less and in 2019 it was $12,275 and less. This has long been the way of classifying countries according to their economic performance however, it is exclusive of the general standard of living of the people living in these countries. The Bretton Woods institutions(involving The Unite Nations, World Bank, IMF, and so on) introduced criteria that should be involved while using an economic development indicator; it must give light to the living condition of the people in different dimensions of their lives.
Indicators used by the Bretton Woods institutions include;
I. The Human Development Index: Among the indicators used for measuring economic development of nations, this is the most common and is used majorly by the United Nations to measure the average achievements in three key dimensions of human development. They are the life expectancy index, Education index and income index. Nigeria has a low Human Development Index. It ranks 153rd with a HDI value of 0.471
II. Consumer Price Index: This is supposed to show the cost of living for the citizens in the country and how it reflects on their standard of living. Developing countries always have very high CPI index showing how costly it is to live decently in the country. It measures the rate of inflation by determining price changes.
III. Quality of Life Index: It is also known as the best place in the world to live.
Answer 3:
The general characteristics of developing countries reflect at the various dimensions of the country which is involved in and effects economic development. They include income distribution, political framework, family system, size of agriculture and industry, technology and capital and many more. Developing nations are characterized by poor performance in these areas and a slow paced improvement to attain the necessary development level. The general characteristics in these areas are;
i. Income inequality: There is always a huge gap between the rich and the poor in developing nations with little or no planned schemes to curb this. This is because of the uneven distribution of income. This causes an uneven distribution of wealth leading to wealth inequality. Income Inequality is as a result of lack of employment and shortage in he national budget. It is accompanied by severe consequences such as social vices and even brain drain.
ii. Low level of living: Most of the citizens do not have access to basic services and amenities as there is a high cost of living and sometimes no availability of these needs.
iii. High rate of population: Developing countries are usually characterized with high rate of population growth because there is no planning. This in turn leads to an increase in poverty as there will be more growth in dependency and burden.
iv. Rising unemployment: The unemployment rate in Nigeria is increasing yearly because of the poor management of the economy and the misuse of the country’s resources. This applies to every other developing country.
v. Widespread of poverty: This is the effect of unemployment and uneven distribution of wealth
Answer 4:
Q1. As a result of decolonization, the UN at first numerically dominated by Europe communities and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, through the essentially academic debate. Despite that debate, the unity of the third world remain hypotheticallybpressed mainly from the platforms of international conference.
Q2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.
The criteria by UN takes into consideration of development indicators like Human development Index(HDI),and Human poverty Index (HPI). According to UN,Countries with high HDI are developed while countries with low HDI are less developed. Also,countries with low HPI are developed,while countries with high HPI are less developed.
Q3. Low level of living: this simply means that a segment of the population of a country does not have adequate access to much wealth and basic services and amenities necessary for living, lack of food, shelter, clothing etc.
Low levels of productivity: this means that resources are not being used to their highest and fulest capacity, that is they are not utilizing their skills and competences to their maximum potential which in turn increases a company’s resources costs.
High rate of population growth: this occurs when the population of an economy or country exceeds the available resources to sustain and neet the basic need of the citizens in that economy.
Traditional and rural social structure: traditional structures can hinder development due to lack of urbanization and acceptance of new innovations and ideas for the improvement of that particular region or economy.
Wide spread poverty: this occurs when most regions in an economy are extremely poor occuring in most individuals. This state of poverty reduces the level of living making life extremely hard and un sustainable for individuals in those regions of the economy.
Substancial dependence on agriculture: this implies to over dependence on agriculture mainly for consumption and not for commercial purposes. Even exporting of only agricultural products can limit a country’s development.
Feeding the government: when the government extorts its citizens and uses the money for their own personal gain it leads to under development. Not meeting the need of the people by providing good roads, jobs, Infrastructure etc, leading to low level of living in the lives of the individuals in the economy.
Increase in unemployment: this occurs when the number of youths in the economy are without jobs, this may lead to increase in crime thus hinders Development in that economy.
Q4. I agree with the argument that ‘poverty has the face of a woman’. This is because in the society,it is known that men are born to provide for and protect there family, while the women are meant to support the husband. In the course of providing for a family or an individual need,the father or male does it better since it is more like a natural responsibility of all men. The woman in the other hand might find it hard in performing this function especially when she is acting as single mother. This is evident in the society. Most women after losing there husband finds life hard while being the bread winner of the family. They get affected mentally, physically and even emotionally,in some cases they end up losing their life due to the pressure and pain they go through.
Another point is that, the society in most cases is unfair to the women. They are not given access to many Social activities such as Education, leadership etc that will bring out there innate ability. This impedes them from being able to function adequately in the course of fending for themselves. They are been made to depend solely on men which in most cases are there husband, for there survival.
EMETO TRACY TOBECHUKWU
2019/241571
ECONOMICS MAJOR
1. China and India are two nations that have played a major role in shaping the political and economic landscape of the Third World countries. Both countries have unique social and economic systems that have been sharply opposed to each other, and both have had a significant impact on the political emergence of Third World countries and on the relationship between the Third World and the industrialized countries.
China, with its Communist system, has been a major proponent of socialist and anti-colonial movements in the Third World. The Chinese Communist Party has provided support and aid to Third World countries that were struggling against capitalist and colonial powers. This support has helped to promote the political emergence of Third World countries and has helped to change the relationship between the Third World and the industrialized countries.
On the other hand, India, with its mixed economy and democracy, has been a major proponent of non-aligned and anti-colonial movements in the Third World. India’s non-aligned foreign policy has helped to promote the political emergence of Third World countries and has helped to change the relationship between the Third World and the industrialized countries.
Both China and India have also had a significant impact on the economic relations between the Third World and the industrialized countries. China has been a major exporter of manufactured goods to the Third World, while India has been a major exporter of services to the Third World. Both countries have also been major recipients of foreign investment and aid from the industrialized countries.
Overall, China and India have played a major role in promoting the political emergence of the Third World countries and in changing the relationship between the Third World and the industrialized countries. Their sharply opposed social and economic systems have provided different perspectives and approaches in addressing the challenges faced by the Third World countries.
2. Yes, that is correct. The traditional measure of development, Gross National Income (GNI) per capita per year, is often used to classify countries as “developed” or “developing.” However, this measure has several limitations and does not fully capture the complexity of a country’s development status.
As a result, other criteria and indicators have been developed to measure development and underdevelopment. These include measures of economic growth, poverty, inequality, health, education, and more.
For instance, The United Nations Development Programme (UNDP) uses the Human Development Index (HDI) to measure development. The HDI is a composite measure that takes into account three dimensions of human development: health (measured by life expectancy), education (measured by years of schooling), and standard of living (measured by gross national income per capita).
The World Bank uses the Multidimensional Poverty Index (MPI), which measures poverty by taking into account not only income, but also other factors such as health, education, and living standards.
The Gini coefficient, another measure of inequality, is used to measure the distribution of income or wealth within a country, and it is widely used by international organizations and governments to evaluate the level of inequality.
In addition to these measures, other indicators such as the Gender Development Index (GDI) and the Gender Empowerment Measure (GEM) are used to measure gender-specific development.
Overall, while GNI per capita per year is still widely used as an indicator of development, it is important to consider multiple dimensions and indicators when evaluating a country’s development status.
3. Developing nations, also known as less developed or low-income countries, share several common characteristics that distinguish them from developed nations. These characteristics include:
Low income: Developing nations generally have lower levels of economic development and a lower standard of living compared to developed nations. This is often reflected in lower per capita income levels, as well as higher levels of poverty and inequality.
High population growth: Developing nations typically have higher population growth rates than developed nations. This can put pressure on resources and infrastructure, as well as contribute to poverty and unemployment.
Low levels of human development: Developing nations often have lower levels of human development, as measured by indicators such as life expectancy, literacy rates, and access to basic services such as healthcare and education.
Dependence on primary commodities: Many developing nations are heavily dependent on the export of primary commodities such as oil, minerals, or agricultural products. This can make their economies vulnerable to fluctuations in commodity prices and create challenges for diversifying their economies.
Weak institutions: Developing nations often have weak institutions, such as a weak judiciary, lack of rule of law, political instability, and corruption. This can make it difficult to attract investment and create a conducive environment for economic development.
High level of external debt: Developing nations often have a high level of external debt, which can make it challenging for them to finance development projects and provide services to their citizens.
Environmental degradation: Developing nations often face environmental degradation, including deforestation, desertification, and pollution, which can have negative impacts on health, economic development, and biodiversity.
4. Poverty disproportionately affects women and girls in many parts of the world. This is due to a variety of factors, including discrimination based on gender, lack of access to education and job opportunities, and cultural norms that limit women’s ability to participate in the workforce.
One of the key reasons why poverty has the face of a woman is the gender pay gap. Women tend to earn less than men for doing the same work, and this has a significant impact on their economic well-being. Additionally, women are more likely to be in low-paying jobs and to work in the informal sector, which often lacks benefits and job security.
Another reason why poverty disproportionately affects women is that they often have primary responsibility for caring for children and other family members. This can limit their ability to participate in the workforce, as they may need to take time off to care for their loved ones. Additionally, women are often expected to provide for their families, which can put a strain on their finances.
Finally, cultural norms and discrimination can also play a role in perpetuating poverty among women. In some cultures, women are not expected to work outside the home, and may not be educated or trained for certain jobs. Additionally, women may face discrimination in the workplace, which can limit their job opportunities and advancement.
Overall, it is clear that poverty does disproportionately affect women and girls. It is important to take steps to address the underlying causes of this inequality, such as the gender pay gap and cultural norms that limit women’s participation in the workforce, in order to reduce poverty among women and improve their economic well-being.
Name: Uche Miracle Chiamaka
Reg No.: 2019/241948
Department:Economics
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist.
China and India are both major developing countries that have played a significant role in promoting the political emergence of other developing countries, also known as the “Third World.” Both countries have unique economic and political systems that have influenced the relationship between the Third World and the industrialized countries, capitalist and socialist.
China has a socialist planned economy and a one-party political system. The Chinese Communist Party (CCP) has been in power since 1949, and during this time, the country has undergone rapid industrialization and economic development. China has been an important leader in the Third World, providing aid and investment to other developing countries and advocating for a more equitable global economic system.
India, on the other hand, has a mixed economy and a multiparty democratic system. Since gaining independence from Britain in 1947, India has made significant strides in economic development and has become one of the fastest-growing major economies in the world. India has also played a major role in promoting the political emergence of other developing countries, particularly in the areas of democracy and human rights.
Both China and India have also been active in international organizations such as the United Nations and the G20, using their influence to promote the interests of developing countries and push for a more fair and equitable global economic system.
Overall, both nations have played a major role in promoting the political emergence of the Third World countries and in changing the relationship between the Third World and the industrialized countries, capitalist and socialist. They have different approach but both have been influential in shaping the global political and economic landscape.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Traditionally, developing countries have been defined by their low Gross National Income (GNI) per capita. However, as the concept of development has evolved, so too have the criteria and indicators used to measure it.
The United Nations, World Bank, and other Bretton Woods institutions have developed a range of indicators to measure development, including the Human Development Index (HDI), which takes into account factors such as life expectancy, education, and standard of living. The Multidimensional Poverty Index (MPI) also looks at multiple dimensions of poverty, including health, education, and living standards.
Other indicators include the Gender Development Index (GDI) which measures gender inequalities in key development areas such as health, education, and economic participation, and the Gender Equality Index (GEI) which measures gender equality in specific areas such as work, politics, and power.
Additionally, The United Nations also uses the Sustainable Development Goals (SDGs) as a measure of development, which is based on 17 goals that are interrelated and aim to achieve sustainable development in areas such as poverty, inequality, and environmental sustainability.
Overall, while GNI per capita is still an important measure of economic development, it no longer serves as the sole indicator of a country’s overall level of development. Instead, a range of indicators is used to give a more comprehensive picture of a country’s progress and challenges.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Developing nations, also known as less developed countries (LDCs), share several common characteristics. Some of the most notable include:
Low per capita income: Developing nations tend to have low levels of income per person, often as a result of low levels of economic development and industrialization.
High levels of poverty and inequality: Many developing nations have high levels of poverty and inequality, with a large percentage of the population living in poverty and a small elite controlling a disproportionate amount of wealth.
Dependence on agriculture and natural resources: Developing nations often have economies that are heavily dependent on agriculture and the extraction of natural resources, such as minerals and oil.
High population growth: Developing nations often have high population growth rates, which can put a strain on resources and impede economic development.
Low levels of human development: Developing nations tend to have lower levels of human development, as measured by indicators such as health, education, and living standards.
Political instability: Developing nations often have a history of political instability, including frequent coups, civil war, and ethnic conflicts.
High level of corruption: Developing nations often have high levels of corruption, which undermines the rule of law and can make it difficult for businesses to operate and for people to access basic services.
Lack of infrastructure: Developing nations often have inadequate infrastructure, including poor transportation, limited access to electricity and clean water, and inadequate sanitation.
Lack of access to technology: Developing nations tend to have lower levels of access to technology, which can limit economic growth and make it difficult for people to access information and communicate with the rest of the world.
High debt: Developing nations often have high levels of debt, which can make it difficult for them to invest in economic development and improve the living standards of their people.
4.It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
The statement that “poverty has the face of a woman” refers to the idea that women are disproportionately affected by poverty and inequality. This is often supported by data showing that women have lower rates of education, employment, and income compared to men, and are more likely to live in poverty.
I, as a language model do not have the capability to agree or disagree but I can provide you with some of the reasons that support this statement.
There are several factors that contribute to this phenomenon. One is the gender pay gap, which means that women are paid less than men for the same work. This puts women at a disadvantage when it comes to earning a living wage and supporting themselves and their families.
Another factor is the lack of affordable childcare and other support services that make it difficult for women to balance work and family responsibilities. This can lead to women dropping out of the workforce or being unable to work as many hours as men, which can impact their earning potential.
Additionally, women are often disproportionately represented in the informal economy, which tends to be low-paying and unstable. This can make it difficult for women to secure stable, well-paying jobs, and to build savings and assets.
Overall, it is clear that poverty and inequality disproportionately affect women. However, it is important to note that poverty is not limited to women, as men and children can also be affected by poverty.
It would be important to also address the underlying causes of poverty and inequality, such as discrimination, lack of access to education and healthcare, and inadequate social protections, in order to effectively address the issue.
Aniemeka Chijindu Dennis 2019/250915
Economics department
1. The rise of China and India as major world powers promises to test the established global order in the coming decades. As the two powers grow, they are bound to change the current international system—with profound implications for themselves, the United States, and the world. And whether they agree on the changes to be made, especially when it comes to their relationship with the West, will influence the system’s future character. A close examination of Chinese and Indian perspectives on the fundamentals of the emerging international order reveals that Sino-Indian differences on many issues of both bilateral and global significance are stark.
KEY POINTS
China and India’s sustained economic growth fuels their increasing geopolitical and military influence.
Despite their developmental similarities, China and India’s bilateral strategic rivalry means that they have competing priorities on most major global issues.
Sino-Indian differences are considerable on issues relating to the nonproliferation system, Asian security, regional stability in Southern Asia, and security in the maritime commons, space, and cyberspace. The two rising powers broadly agree on matters relating to the international economic system, energy security, and the environment.
Because of its ongoing shift to the Asia-Pacific and status as the only global superpower, the United States must manage a complex set of relationships with China and India, which are at times working at cross-purposes.
CHINESE AND INDIAN POSITIONS ON INTERNATIONAL ISSUES
Global Order: China and India tend to agree on the importance of state sovereignty and the need to reform global governance institutions to reflect the new balance of power. They also share a strong commitment to the open economic order that has allowed both powers to flourish in the global marketplace. But the two diverge on many details of the international system, such as the future viability of the Non-Proliferation Treaty and the role of state-owned enterprises in fostering globalization.
Regional Security: Both China and India want a stable Asia-Pacific that will allow them to sustain their economic prosperity, but they perceive threats very differently and have divergent priorities. Importantly, India seeks a resolute American presence in the region to hedge against possible Chinese excesses, while China sees the United States as significantly complicating its pursuit of its regional goals and worries about American containment attempts.
Security in the Global Commons: Beijing and New Delhi rely heavily on open sea lines of communication, and as a result, they both support the current maritime security regime. However, their interpretations as to its provisions have occasionally diverged. In space, China enjoys significant advantages over India and has emphasized the military dimensions of its program, while New Delhi has only recently begun developing space-based military technology. Both countries are just beginning to wrestle with the difficult task of forming cybersecurity policies, but they have already acted to limit objectionable or illegal activities online. In striking the balance between online freedom and social stability, India has encountered a higher degree of opprobrium in the public sphere than its counterpart.
Nontraditional Security: Chinese and Indian approaches to both energy and the environment broadly converge. Because India and China face a rising domestic demand for energy, they heavily rely on foreign suppliers of energy resources. This has prompted both governments to seek more efficient power sources and to secure their presence in overseas energy markets. On environmental policy, the two countries focus on primarily local and short-term concerns that must be balanced with the need for economic growth.
2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.
Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.
Measuring economic activity in a country or region provides insights into the economic well-being of its residents.
Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.
Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.
3 . LOW LEVELS OF LIVING : Low productivity coupled with high rate of population growth and unemployment ruduces the standard of living of living in developing countries.
LOW LEVEL OF PRODUCTIVITY : Developing countries usually engage in subsistence production which is characterized by the use of crude implements which result in low productivity. They largely depend on single export product for their foreign exchange earning.
HIGH AND RAPID POPULATION GROWTH : There is high rate of population growth in developing countries while food production is not growing at the same rate. People suffer from malnutrition and diseases resulting in increase in death rate.
HIGH RATE OF UNEMPLOYMENT : Factors of production are not fully utilized in developing countries. Many factors are lying idle or are underemployed. This accounts for low productivity.
HIGH DEPENDENCY RATIO : Due to high level of unemployment, the large percentages of the population who are unemployed depend on the few working population for their living,thus reducing the standard of living.
LOW PER CAPITA INCOME : Low productivity results in low national income which leads to low per capita income. This will result in low standard of living.
LOW LEVEL OF TECHNOLOGICAL DEVELOPMENT : Modern techniques of production are not yet adopted in developing countries. Most production especially in agriculture is carried out with the use of crude implements. This also accounts for low productivity.
4 . No doubt poverty remains a global challenge; the world bank estimates that 1.29 billion people live in absolute poverty and the sad fact is that 70% of them are women.
This is as a result of many factors like the triple burden of child bearing, child rearing, domestic unpaid labour, lack of proper education, denial of growth opportunities, inadequate health care and simultaneously forced to live in the tight bind of culture and tradition.
These characteristics and more points out that women constitute a majority of the poor and are often the poorest of the poor. These and more brought about the phrase ‘ poverty has the face of a woman”.
YES I AGREE
I agree to the motion that poverty has the face of a woman with these following reason;
Their poverty is multidimensional; not only of lack of income but also of nutrition and health, they are denied education (The end product of a woman is in the kitchen) and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindset permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many. The risk of poverty grow in parallel with the number of women headed households. It’s no surprise that women are over represented among the poorest; discrimination against them occur in many level: health care, education. Unsurprisingly few poor women have hope escaping this poverty as they’re so many odds stacked against them. Despite laws that favor them, even richer women are regularly denied inheritances and more.
NAME: OKEGBE UDOKA JANE
REG NO:2018/249316
DEPARTMENT: ECONOMICS
(1) The term third world countries was used in the 1955 Afro-Asian conference,held in Bandung, Indonesia. This conference marked the biginning of the political emergence of the third world countries. Two countries( China and India) with different social and economic systems played a major role in actualising this.
As a result of decolonization,most colonized countries became an independent state. European and North American domination,underdevelopment,rapid demographic growth etc. and they were called as the ‘Third World‘.The term ‘Third World’ referred to the one-third of the superpowers i.e.the United States and the Soviet Union.Third World,not a homogenous group,has different political system and level of economic development.TheThird World countries are also called developing countries because they are facing the economic,social and political problems like poverty,starvation,illiteracy and ethnic conflicts. This countries have opposed imperialism, colonialism, foreign intervention and have supported peaceful co-existence. Since they all have similar challenges and aspirations formed and called themselves a non- alignment countries. Non- alignment here means not belonging to any of the two world powers or Bloc(America and Russia)
(2) The set of indices developed by UN and other global agencies on how to measure development includes:
(i) UN’s Human Poverty Index (HPI): This index measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under five.
Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due to lack of education etc. Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered under developed.
(ii) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:
(a) Life expectancy
(b) Educational attainment and
(c) Adjusted real income
The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of many African Countries like USA,France,South Korea etc are examples of countries with high HDI.
According to World Bank, countries with a GNI of 11,905 US dollar and less are developing (specified by the World Bank,2015) and 12,275 US dollar (World Bank,2019)
(3) The following are the common charecteristics of Developing Nation:
(i) Low level of living: in almost all the developing countries, the populace of the country is faced with low level of living, as they are poor and unable to adequately provide there basic necessities of life.
(ii) Low Level of Productivity: One common feature that most developed countries posses, that developing countries does not posses is Economic growth which is measured based on a countries productive ability. In developing countries,resources are under utilized and this gives rise to low level of productivity. Even though developing countries Economy is Agrarian, the output from agricultural activities is still low due to employing local methods of agriculture.
(iii) High rate of Population growth and dependency burdens: Developing countries are mostly characterised by an incessant increase in their population. Not just that,the rate of the dependent population also rises due to increase in population without a corresponding increase in employment, production level etc.
(iv) High and rising level of Unemployment and Under employment: Due to low level of productivity, there is inadequate employment for the working population,hence this gives rise to high and rising level of Unemployment. The unavailability of jobs also renders most skilled labours in the country to venture into any job that comes there way,even though the job underscores his potential,in the bid to survive.
(v) Traditional,Rural social Structures: Developing nations are also characterised by Traditional,Rural Social Structures. Rural institutions and traditional settings are common found in the society.
(vi) Widespread of poverty: Poverty as a term is the inability of people to provide there daily necessity of food,shelter and clothing. The majority of people any developing countries are poor,just few are rich which gives rise to inequality.
(vii) Prevalence of Imperfect market: Due to low level of production,there are little or no producers of goods and services needed by the consumers in the developing countries. The little producers available hence increase the price outrageously in order to make excessive profit at the expense of the consumer. The producers are able to do this because there is no adequate competition in the market for the goods they are producing. This is a clear example of an imperfect market.
(viii) Substantial dependence on agricultural products and primary products export: Like earlier explained, developing nations are Agrarian in nature. They produce agricultural produce(primary products) such as cocoa, Kolanut, timber,cotton, palm kernel etc and export to foreign countries. The export of agricultural products for example amounted greatly in the GDP of Nigeria prior to the discovery and exploration of crude oil.
(ix) Dependence and Vulnerability: The societies of developing countries are faced with exposure to insecurity which limits the freedom of man. This is common in developing countries.
(x) Distorted Economics devoted to producing primary products for the developed world and to provide Market for their finished goods: Developing countries mostly produce primary products which they export to developed world as raw materials for there companies. The developed countries also exports the finished goods produced back to the developing countries for consumption. By so doing,the developing countries provides market for the developed countries finished goods.
(4) I agree with the argument that ‘poverty has the face of a woman’. This is because in the society,it is known that men are born to provide for and protect there family, while the women are meant to support the husband. In the course of providing for a family or an individual need,the father or male does it better since it is more like a natural responsibility of all men. The woman in the other hand might find it hard in performing this function especially when she is acting as single mother. This is evident in the society. Most women after losing there husband finds life hard while being the bread winner of the family. They get affected mentally, physically and even emotionally,in some cases they end up losing their life due to the pressure and pain they go through.
Another point is that, the society in most cases is unfair to the women. They are not given access to many Social activities such as Education, leadership etc that will bring out there innate ability. This impedes them from being able to function adequately in the course of fending for themselves. They are been made to depend solely on men which in most cases are there husband, for there survival.
Though it is not right to use the face of a woman to liken poverty,but it is also important to know that women are affected by poverty the most in the society than their male counterparts.
Eco 391
Name: Okafor Charles Chidozie
Department : Eco /pol
Assignment
1. The scientific method is the process of objectively establishing facts through testing and experimentation. The basic process involves making an observation, forming a hypothesis, making a prediction, conducting an experiment and finally analyzing the results. In view of this, clearly discuss non-scientific and scientific research and their differences.
2. Discuss and deeply explain the characteristics of scientific research.
Answer
1..Scientific research refers to research that collects data using systemic methods and strategies. There is a scientific and systemic basis in the collection of data, interpretation, and evaluation of data. When conducting scientific research, the researcher should plan the research and specify the methodology. According to the techniques used in data collection, scientific research can be classified into different categories as observational and experimental.
Scientific research operates at two levels. One level is the theoretical level, and the other is the empirical level. At the theoretical level, concepts are developed, especially concepts related to social and natural phenomena. At the empirical level, theoretical concepts and relationships are tested. There are two forms of scientific research: inductive and deductive. This depends on the researcher’s training and interest. In inductive research, the researcher gathers theoretical concepts from observed data, while in deductive research, the researcher tests concepts and patterns of the theory using new empirical data.
While Non-scientific research is research conducted without any systematic methods and scientific basis. In non-scientific research, intuition, personal experience, and personal beliefs are used as techniques to reach a conclusion. Thus, conclusions in non-scientific research are basically based on personal thinking and presumption.
In non-scientific research, logical and systematics methods are not used in analyzing data. Non-scientific research simply gives a solution for a certain problem. It does not focus on other activities or recommendations for that particular problem. Moreover, it does not use a logical or organized procedure to form the conclusion.
What is the Difference Between Scientific and Non-Scientific Research?
Although both scientific and non-scientific research are used in collecting data, they follow different methods and procedures. The key difference between scientific and non-scientific research is that scientific research can be repeated several times using the same methods and data, whereas non-scientific research cannot be repeated since it uses intuition, personal experience, and personal beliefs.
Moreover, in scientific research, data is collected using different techniques such as observation, formulation, and testing hypotheses. On the other hand, in non-scientific research, data collection only uses observation. Besides, scientific research follows a logical and systematic process in arriving at a conclusion but, in non-scientific research, only the beliefs and expectations of people are considered in arriving at a conclusion. Furthermore, non-scientific research does not follow any logical, scientific, or systematic method. Thus, this is another major difference between scientific and non-scientific research. In addition, scientific research is objective, while non-scientific research is subjective.
Below is a summary of the difference between scientific and non-scientific research in tabular form for side by side comparison.
2 1. Objectivity
Scientific knowledge is objective. Simple objectivity means the ability to see and accept facts as they are, not as one might wish they were. To be objective, one has to protect oneself against one’s own prejudices, beliefs, desires, values and preferences. Objectivity requires that one should set aside all kinds of subjective considerations and prejudices. If you are afraid that your work will not be objective enough, then you can ask us to “write my paper” or order proofreading.
2. Verifiable
Science rests on sensory data, that is, data collected through our senses: eye, ear, nose, tongue and touch. Scientific knowledge is based on verifiable evidence (concrete objective observations) so that other observers can observe, weigh or measure the same phenomena and verify the observation to verify its accuracy.
Is there a god? Is the Varna system ethical or the questions related to the existence of the soul, heaven or hell are not scientific questions because they can not be treated objectively? The evidence regarding its existence can not be gathered through our senses. Science has no answers for everything. Deal only with those questions about which verifiable evidence can be found.
3. Ethical neutrality
Science is ethically neutral. It only seeks knowledge. How this knowledge will be used, is determined by the values of society. Knowledge can be used for different uses. Knowledge about atomic energy can be used to cure diseases or to wage an atomic war.
Ethical neutrality does not mean that the scientist does not have values. Here it only means that you should not allow your values to distort the design and conduct of your research proposal. Therefore, scientific knowledge is value-neutral or value-free.
4. Systematic exploration
A scientific investigation adopts a certain sequential procedure, an organized plan or a research design to collect and analyze data about the problem under study. In general, this plan includes some scientific steps: formulation of hypotheses, compilation of facts, analysis of facts (classification, coding and tabulation) and generalization and scientific prediction.
5. Reliable or reliable
Scientific knowledge must occur under the prescribed circumstances not once but repeatedly. It is replicable in the indicated circumstances in any place and at any time. The conclusions based on casual memories are not very reliable.
6. Accuracy
Scientific knowledge is precise. It is not vague as some literary writings. Tennyson wrote: “Every moment a man dies; Every moment that one is born, it is good literature but not science. To be a good science, it should be written as: “In India, according to the 2001 census, every tenth, on average, a man dies; every fourth second, on average, a baby is born «. Accuracy requires giving the exact number or measure. Instead of saying “most people are against marriages for love,” says a scientific researcher, “ninety percent of people are against marriages for love.”
7. Accuracy
Scientific knowledge is precise. A doctor, like a common man, will not say that the patient has a mild temperature or that he has a very high temperature, but after measuring with the help of the thermometer, he will declare that the patient has a temperature of 101.2 F.
Precision simply means truth or correction of a statement or description of things with exact words as they are without jumping to unjustified conclusions. Every essay helper on our team always works by this rule.
8. Abstraction
Science proceeds on a plane of abstraction. A general scientific principle is highly abstract. He is not interested in giving a realistic image.
9. Predictability
Scientists not only describe the phenomena that are studied, but also try to explain and predict. It is typical of the social sciences that have a much lower predictability compared to the natural sciences. The most obvious reasons are the complexity of the subject and the insufficiency in the control, etc.
Name: Nkeonye Oluchi
Reg No: 2019/250120
DEPARTMENT: Economics
1.Yes. This occurred at the Bandung Conference in 1955. China and India played a role in changing the relationship between the third world and the individual countries, capitalist and communist. As a result of decolonization, the United Nations at first numerically demonstrated by European Countries and countries of European origin was gradually transformed into something of a third-world forum. With increasing urgency, the problem of under-development then became the focus of permanent, although, essentially academic debate.
2. The Works Bank’s official estimates of the size of economies are based on GNI converted to the Atlas method. The Atlas method smoothens exchange rate fluctuations by using a three-year moving average, price-adjusted conversion factor. This is to reduce the impact of the exchange rate fluctuations in the cross-country comparisons of national incomes.
3.a. Low levels of living: it is common for citizens in an underdeveloped country to have a very low standard of living. A low level of living means that these citizens have inadequate food to eat, poor housing, lack of governmental basic amenities (like electricity), bad economic conditions, etc.
b. High rate of population growth and dependency burdens: when the population outgrows the available resources that are been put to use, then the citizens, on average, would not have enough to survive on. This creates scarcity in the economy. Also, when the dependent population (very young and old people) is more than the working-class population, the development will not occur in that nation.
c. Widespread poverty: If a majority of the people in a country are poor, then the country is underdeveloped. Poverty is one of the major indicators of underdevelopment. Poverty does not mean a lack of money. If it was just that, then you can say that the country is not growing. But Poverty (in a country) means the lack of money, good governance, good infrastructures, management of scarce resources, etc.
d. Subsistence dependence on agricultural production and primary product exports: Citizens of poor countries depend on the produce of subsistence farming for survival. This is a result of a lack of capital equipment and technical knowledge to farm on a very large scale.
e. High level of unemployment and underemployment: In an underdeveloped country, the citizens are either not engaged in productive activities, or are doing things below their capacity.
3. Yes. Poverty has the face of a woman. To properly understand this situation, we’d have to make a comparison between the man and the woman. The burden of poverty falls on the woman who has kids to care for and is concerned about the welfare of these kids. The poor concerned woman would have to look for a way out of their situation, most times, she resorts to begging. But a man most times relinquishes his responsibilities over his children because of poverty. Poverty makes a man feel powerless. This feeling ultimately makes the man reduce the amount of responsibility he had for him. Somehow, he doesn’t reflect his state of poverty as much as a struggling woman would.
Eco 361
Name: Okafor Charles chidozie
Department: Eco/pol
Assignment
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
2 Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Answer
1. China and India have become world economic powers; they are attempting to harness the forces of globalisation so as to strengthen their international standing in multilateral institutions like the WTO. Theirs is not a surrender to imperialism, but an attempt to build a bulwark against it, from which they can implement their own national strategies for development — strategies that are qualitatively different from those followed by the non-aligned movement after Bandung. While each country is pursuing a somewhat different path, their collective might within the G-20 is already forcing concessions on trade, agriculture and subsidies from the US and EU. But do such growing South-South economic linkages have the potential to transform the global balance of power?
The ideological background of the relationship between communist and developing countries reflects the pluralism in the international com- munist movement.
Soviet-oriented communists consider the dispute between the “socialist” and “capitalist” world systems as main feature of our present epoque. In this dispute the “socialist” system – according to their version – draws support from three sources:
[ ] the communist states,
[] the communist parties in Western industrial
movement can, however, only survive in its con- frontation with “imperialism” and “neocolonial- ism” under the protective cover of the “socialist” system. Or putting it bluntly, the “Conference of the Non-aligned” should be replaced by an “anti- capitalist” alliance of “socialist” and developing countries.
According to Chinese theories – which ap- proached the views of the “Group of 77” – the main conflict of our present age is the one be- tween the “rich” North and the “poor” South. The Soviet Union strongly rejected any such attempts to place developed communist states on one level with Western industrial countries. Soviet communists would only go as far as to accept a historically justified conflict between Western in- dustrial countries (“imperialism” and “neocolo- nialism”) and developing countries (“revolution- ary national liberation movements”) which they consider, however, a constituent part of – and overshadowed by – the East-West conflict. The “revolutionary national liberation movement”, i.e. the developing countries’ efforts to reduce their political and economic dependence on Western industrial countries, is — as long as it undermines the political, military and economic strength of the Western industrial countries – in Soviet eyes one of the main features of the overall struggle against the “capitalist” world system to be car- ried on under the leadership of the Soviet Union. Soviet-oriented communists consider the mere existence of the “socialist” world system, which according to their opinion determines the tenor and trend of the “world revolutionary process”, as a guarantee for the success of the developing countries’ efforts towards political, economic and
social independence.
2. In the World Development Indicators database (and most other time series datasets), all 189 World Bank member countries, plus 28 other economies with populations of more than 30,000, are classified so that data users can aggregate, group, and compare statistical data of interest, and for the presentation of key statistics. The main classifications provided are by geographic region, by income group, and by the operational lending categories of the World Bank Group. These groupings change from time to time: these tables provide those currently in use.
The term country, used interchangeably with economy, does not imply political independence but refers to any territory for which authorities report separate social or economic statistics.
* Geographic regions
Groupings are primarily based on the regions used for administrative purposes by the World Bank. There are two main variants: one which includes all economies, and one which excludes high-income economies (see income groups below for the definition of low-, lower middle-, upper middle-, and high-income categories).
Income groups
Economies are currently divided into four income groupings: low, lower-middle, upper-middle, and high. Income is measured using gross national income (GNI) per capita, in U.S. dollars, converted from local currency using the World Bank Atlas method. Estimates of GNI are obtained from economists in World Bank country units; and the size of the population is estimated by World Bank demographers from a variety of sources, including the UN’s biennial World Population Prospects.
Countries are immediately reassigned on July 1 each year, based on the estimate of their GNI per capita for the previous calendar year. Income groupings remain fixed for the entire fiscal year (i.e., until July 1 of the following year), even if GNI per capita estimates are revised in the meantime.
See “How are the income group thresholds determined?”
See “Why use GNI per capita to classify economies into income groupings?”
Download an Excel file of historical classifications by income.
Operational lending categories
Economies are divided into IDA, IBRD, and Blend countries based on the operational policies of the World Bank. International Development Association (IDA) countries are those with low per capita incomes that lack the financial ability to borrow from the International Bank for Reconstruction and Development (IBRD). Blend countries are eligible for IDA loans but are also eligible for IBRD loans because they are financially creditworthy.
Classification reassignments of operational lending categories may occur at any time, but will only be reflected in World Development Indicators or other databases when those databases are updated.
3. Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption.
4.Yes ,poverty has the face of a woman .
Globally, poverty remains a challenge: the World Bank estimates that 1.29 billion people live in absolute poverty; the sad fact is that about 70 per cent of them are women. In Pakistan, it is no different, but without a national census, it isn’t even possible to gauge the correct picture. Poverty is difficult to quantify: the methodology used by the government has been challenged by the World Bank and the UNDP, while independent organisations consider poverty to be above 28.3pc.
However, according to the Human Development Index, 2009, 60.3pc of Pakistan’s population lives on $2 per day. According to Unesco, 71pc of eligible girls did not attend secondary school in 2009. Gender discriminatory practices shape poverty: as expected, more women are at the suffering end. They suffer poverty of opportunities far more than men. Poverty gives rise to social powerlessness and political disenfranchisement, and these add to the vulnerability of the poor.
The reasons for such high poverty levels are several: corruption, illicit capital flight, debt and loan conditionalities, high defence expenditures, and now, extremism. Those are the general ones.
To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
The risks of increasing poverty grow in parallel with the number of women-headed households. Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
It is no surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.
Unsurprisingly, few poor women have hope of escaping this poverty as there are so many odds stacked against them. Despite laws that favour them, even richer women are regularly denied land inheritance by emotional coercion, forced marriage and even by ‘marriage’ to the Quran.
The current political situation prevailing in the country presents a mixed picture for women’s progress and development. On the one hand, there are several forward-looking laws and amendments, widespread provision of safety nets like the Benazir Income Support Programme and increased school enrolment for girls. On the other hand is the snail’s pace at which the bureaucracy moves to implement those laws. Then again, there’s society’s stubbornly ‘eyes shut’ attitude to women’s rights and progress, the lack of recognition that women’s progress requires an acceptance of their constitutionally guaranteed equal status as citizens of this country.
If women are to progress and participate effectively in the economy, they must receive equal education, equal training, in rural and urban sectors and equal dignity and income. Pakistan cannot achieve progress on the efforts of less than half its population.
GABRIELS SHARON
2019/241572
ECONOMICS
1- The two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. It began in the Bandung conference in 1955, where these nation states brought the focus out of the European dominated organization of United Nations. If was in this conference they the focus shifted to third world states. With urgency, the development of these underdeveloped states became the focus of the permanent although essentially academic debate.
2- In each country, factors such as economic growth, inflation, exchange rates, and population growth influence the level of Atlas GNI per capita.The World Bank’s official estimates of the size economies are based on GNI converted to current U.S. dollars using the World Bank Atlas method. The Atlas method smoothes exchange rate fluctuations by using a three year moving average, price-adjusted.
3- the characteristics of developing countries are as follows
a) widespread poverty- in most developing countries, there’s an outrageous number of people who live in abject poverty and can’t provide basic human-needs for themselves or their families. They live in unfavorable conditions and eat poorly prepared meals.
b) High rates of population growth and dependency burdens – the population growth of developing nations grows in a rapid manner, one which is without check or control. The population of developing nations are increasingly progressive as against the resource available to provide and cater for the population.
c) low levels of productivity- most of the population aren’t productive or proactive in their businesses or daily jobs due to lack of incentives from the governments of these developing countries. The citizens aren’t moved to do much more for themselves because of the poor remuneration in the economies labour force.
4- I agree with the statement that says “Poverty has the face of a women” for these reasons. In the society we live in, women face societal disadvantage and inequalities especially economically. A woman doesn’t have the freedom of financial liberation due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.
Answers:
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.
2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.
3.
1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
5.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
6.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
7.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.
These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.
4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment.
Overall, I agree that poverty has the face of a woman, as the data and research clearly indicate that women are disproportionately affected by poverty and face unique challenges in breaking out of it
NAME: NWAIGBO NZUBECHUKWU VICTORY
REG NO: 2019/247274
DEPARTMENT: ECONOMICS
COURSE TITLE: DEVELOPMENT ECONOMICS 1
COURSE CODE: ECO 361
AN ASSIGNMENT
QUESTION 1
Two nations whose social and economic systems were sharply opposed- China and India- played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the Industrial Countries, Capitalist and Communist.
China and india played major roles in the political emergence of the third world. With the emergence of China and India in world economy ever more manifest in Africa economy and any other third world economy as the interactions between the Asian giant and the third world economy including Africa are bound to intensify even if the recent period of supercharged growth in the former countries, we can think of the Asian giants as growth models, key global price settlers, including for interest rates.
With the integration of China and India- The Asia Drivers in the world economy gaining momentum, it is ever more manifest that economy gaining momentum their presence is likely to transform past relationships ina number of key respects , providing both competition and opportunities for the major trading partner in OECD countries but in also to developing countries.
The 1960s and 1970s were a crucial time for the promotion of the third world countries. China and India were two of the most important countries in terms of promoting the third world countries. China provided economic assistance to the third world countries by providing assistance in the construction of rural public facilities, sharing experience in agriculture governance and offering technology transfer. Whereas, India provided political assistance. This helped to promote the development of these countries and help them gain independence.
QUESTION 2
Traditionally, Developing Countries are defined according to their Gross National Income (GNI)per capital per year. However, the United Nations, World Bank and other Bretton woods institutions have developed many other Criteria and indicators for measuring development and underdevelopment.
1, The Genuine Progress Indicator
The Genuine Progress Indicator builds off GDP as an economic indicator by including measures of the impact of economic growth on the environment as well as various social factors. The GPI takes GDP into consideration while also measuring the negative impacts of growth. For Example, In this measurement, resource depletion and degradation are subtracted from the positive impacts of growth to determine the level of development. The GPI tries to get a bigger picture of the average quality of life by measuring information such as housework, parenting, the costs of crimes, and the value of volunteering work.
2, The Multidimensional Poverty Index
The MPI replaced the HPI in 2010. It differs from the HPI as it assesses poverty at the individual level. If one person is deprived of a third or more of ten (weighted) indicators, the global index identifies them as ‘MPI poor’. The extent of poverty is measured by the percentage of deprivation a person is experiencing.
3,The Human Poverty Index (HPI)
The Human Poverty Index complements the HDI as it is an indication of the standard of living in an economy. It considers the level of poverty and deprivation of a community in a country. The HPI uses two indices: The HPI-1 is used to measure developing countries.
The HPI-2 is used for developed countries that are part of the Organization for Economic Co-operation and Development (OECD).
4, Quality of Life Index
The Quality of Life Index (IKH) or Physical Qualty of life Index (PQLI) is used to measure people’s welfare and prosperity. Macroeconomic indexes cannot provide a picture of people’s welfare in measuring economic success. For example, the national income of a nation can continue to grow, but without increasing social welfare.
QUESTION 3
Clearly discuss and analyse the common Characteristics of Developing Nations.
1, Widespread poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
The rate at which poverty is spread in developing countries is very high with this level of poverty countries are considered as a third world or a developing country.
2, Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
3, Substantial dependence on agricultural production and primary product export
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries.
Substantial dependence on agricultural produce and export is very high as developing country depends on primitive agricultural produce which is mainly carried out using primitive agriculture agricultural tools. With the high level of primitive Agriculture, farmers can bearly produce for export which reduces exports and eventually reduce economic income.
4, Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
5, Lower Levels of Human Capital
Human capital – education, health and skills – are of crucial importance for economic development. In our analysis of human development index (HDI) we noted that there is great disparity in human capital among the developing and developed countries. The developing countries lack in human capital that is responsible for low productivity of labour and capital in them. Lack of education manifests itself in lower enrolment rate in primary, secondary and tertiary educational institutions which impact knowledge and skills of the people. Lower levels of education and skills are not conducive for the development of new industries and for absorbing new technologies to achieve higher levels of production.
6, The Problem of Unemployment and Underemployment is very high in a developing country
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs.
7, Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
8, Dependence and Vulnerability
Dependence and Vulnerability in developing countries are high as individuals or citizens of a country is exposed to the possibility of being attacked or harmed either physically or emotionally. And this exposure to different social vices make majority of people dependent on the wrong set of persons.
9, High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
10, Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
QUESTION 4
It has been argued that poverty has the face of a woman. As a budding Economist, Clearly discuss and analyse this Statement. Do you agree or disagree? If yes, why? If No.
I agree that poverty has a woman face why because women are often on the forefront were there is poverty. Globally, poverty remains a challenge: the World Bank estimates that 1.29 billion people live in absolute poverty; the sad fact is that about 70 per cent of them are women. However, according to the Human Development Index, 2009, 60.3pc of Pakistan’s population lives on $2 per day. According to Unesco, 71pc of eligible girls did not attend secondary school in 2009. Gender discriminatory practices shape poverty: as expected, more women are at the suffering end. They suffer poverty of opportunities far more than men. Poverty gives rise to social powerlessness and political disenfranchisement, and these add to the vulnerability of the poor.
The reasons for such high poverty levels are several: corruption, illicit capital flight, debt and loan conditionalities, high defence expenditures, and now, extremism. Those are the general ones. To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Poverty has a woman face according to my research does not describe the face of a young woman or women of a country but the consequences of poverty such as lack of adequate resources, powerlessness and political disenfranchisement, vulnerability, force labour, exposure to violence ate mostly experience by women of a country or even the girl child.
1.As both inflationary and recessive effects of oil price rises since the beginning of 1979 permeated every aspect of the economy, the world economy in 1980 suffered a general setback in the face of the sharp rise in prices. At the same time, the balance of payments disequilibrium between oil producers and consumers was further expanded. As the employment situation worsened, protectionist pressure rose.
It may thus be said that 1980 was a year in which the world economy strove to absorb and adjust the various ills caused by the second oil crisis.
2.Ways of Measuring development depends
Ideology at the roof top of policies and programmes for example the neo-liberal ideology that is at the root of all mainstream development policy currently
Analytical and normative aspect of belief policies and programmes.
Beliefs about the relationship between agency and structure
Beliefs about the importance of economic belief and social aspect of development.
3.Low Per Capita Income:
The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan.
Excessive Dependence on Agriculture:
A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone.
Low Level of Capital Formation:
The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population.
4. Yes poverty has a women’s face, why is because we have seen this in many of our communities. Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and fierce figure how you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elderly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equally footing. l have had the privilege of living in Sweden and lam realizing that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
NAME: UGWU SARAH CHINECHEREM
DEPARTMENT: ECONOMICS EDUCATION
REG NUMBER: 2019/241843
COURSE: DEVELOPMENT ECONOMICS ECO.361
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
The Bandung conference, in 1955, was the beginning of the political emergence of the third world. Two nations whose social’ and economic systems were sharply opposed-China and India-played a major role in promoting that conference and in changing the relation between the third world and the industrial countries, capitalist and Communist. As a result of de-colonialization, the United Nations, at first numerically dominated by European countries and countries of European origin, was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, although essentially academic.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
This Institutions are powerful institutions that have been involved in economic development in African countries before independence. However, there are controversies regarding whether they facilitate or hinder the economic prospects of Africa. This institution interrogate their roles in the economic development of Africa and explain the justification for their untiring involvement. It argues that all institutions are instruments in the hands of great industrial powers of the world to subjugate African countries in favour of their economic prosperity. It is recommended that the leaders of African countries should have a revolutionary attitude towards these institutions and their economic policies
Bretton Woods led to the establishment of three global institutions; The World Bank, International Monetary Fund, and the World Trade Organization.
International Monetary Fund.
International Monetary Fund is an institution that oversees international monetary systems, global payments, and exchange rates to enable countries and their citizens to purchase goods and services from each other. Functions of IMF are:
1. To promote orderly exchange arrangements and encourage stable exchange among its members.
2. Provide technical assistance to member countries in creating and implementing economic policies.
3. To facilitate expansion and balanced growth of the international market.
4. To promote international monetary cooperation through the formulation of an institution that provides solutions to all global monetary problems.
World Bank:
The world bank is a financial institution whose primary purpose is to promote economic and social growth of developing countries through the provision of funds to support the productivity of developing countries. Its functions are:
1. Enabling sustainable growth through poverty reduction in poor developing countries.
2. Offering post-conflict solutions to war-torn countries.
3. Addressing regional and global issues that have crossed national boundaries such as climate change.
4. Financing for development projects in middle-class countries.
World Trade Organisation (Formerly referred to as General Agreement on Tariffs and Trade (GATT))
World Trade Organization is a global organisation that promotes and maintains free trade among its members. Duties include:
1. To encourage a multilateral trade system within all member states.
2. To control or eliminate harmful trade practices.
3. To mediate trade disputes among member states.
4. To suggest and undertake measures for smooth flow of free trade.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.Low Per Capita Real Income
1 Low Per Capita Real Income
2 Mass Poverty
3 Rapid Population Growth
4 The problem of Unemployment and Underemployment
5 Excessive Dependence on Agriculture
6 Technological Backwardness
7 Dualistic Economy
8 Lack of Infrastructures
9 Lower Productivity
10 High Consumption and Low Saving
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore. In a summary, the major characteristics of developing countries are presented in the following table.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
YES I AGREE But large gender gaps remain. Women and girls are more likely to die, relative to men and boys, in many low- and middle-income countries than their counterparts in rich countries. Women earn less and are less economically productive than men almost everywhere across the world. And women have less opportunity to shape their lives and make decisions than do men.
Gender inequality is one of the oldest and most pervasive forms of inequality in the world. It denies women their voices, devalues their work and make women’s position unequal to men’s, from the household to the national and global levels. Despite some important progress to change this in recent years, in no country have women achieved economic equality with men, and women are still more likely than men to live in poverty.
1. Shigeo Kobayashi, Jia Baobo and Junya Sano
Introduction
The Chinese Economy since the Start of the Reform and Open-door Policy
The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.
The obvious aim of this policy shift was to rebuild its economy and society that were devastated by the Cultural Revolution. The policy shift also appears to have been prompted by recognition that the incomes of ordinary Chinese were so low, in comparison with incomes in other Asian economies, that the future of the Chinese state and the communist regime would be in jeopardy unless something was done to raise living standards of its people through economic growth.
The government subsequently established a number of areas for foreign investment, including the special economic zones, open coastal cities, the economic and technology development zones, the delta open zones, the peninsula open zones, the open border citiees, and the high-tech industry development zones. The establishment of these zones provided the trigger for massive inflows of foreign investment, primarily from companies in Hong Kong and Taiwan. At the same time, China promoted its socialist market economy concept. The changes brought an entrepreneurial boom that resulted in the emergence of huge numbers of entrepreneurs and venture businesses within China.
Inflows of foreign capital, technology, and management knowhow enabled China to turn its vast labor resources and space to rapid economic growth. The shift to an open-door economic policy ushered in a period of high economic growth in the first half of the 1980s. The economy stagnated around the time of the Tiananmen Square Incident in 1989, but in the first half of the 1990s, China was again boasting high growth rates. Rapid economic growth was accompanied by a rise in per capita GDP (Fig. 1). In 1998, per capita income, though still only about US$770, was 14 times higher than in 1980. Therefore, it seems reasonable to conclude that Deng Xiaoping’s first goal, which was to improve the economic status of the people, has been accomplished.
2. Three criteria are used to decide whether or not a country is a Low Developing Country(LDC): A measure for per capita income, a human assets index and an economic and environmental vulnerability index. Countries with less than $1,035 GNI per capita are classified as low income countries, those with between $1,036 and $4,085 as lower middle income countries, those with between $4,086 and $12,615 as upper middle income countries, and those with incomes of more than $12,615 as high income countries. At the end of 2021, there were 46 countries on the UN list.
3a.) Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
b.) High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
c.) High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
d.) Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
e.) Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
4. I AGREE;
Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship, say MEPs in a non binding resolution adopted on Tuesday. Two other resolutions look at measures to combat gender stereotyping in the EU and to protect women’s rights in North Africa.
The global economic crisis will have a major impact on women.
Girls, more than boys, will suffer in areas such as education and infant mortality
– The plight of women must be incorporated in any economic development strategy
WASHINGTON, May 15, 2009 – The global economic crisis will drastically reduce African women’s individual incomes as well as the budgets they manage on behalf of their households, with particularly damaging consequences for girls, said Obiageli Ezekwesili, World Bank Vice President for the Africa Region, at a recent conference on the impact of the global economic crisis on women in Africa.
NAME: SIMON PATIENCE PRECIOUS
REG NO:2019/244760
DEPARTMENT: ECONOMICS
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
Answer
The strongest theme in China’s current third world policy is “to change the old international economic order and build a new one.” India’s peculiarity as a development assistance provider is that India itself was the major recipient of development assistance from the developed countries and multilateral organizations. Despite its own challenges, India set aside some of its scarce resources to assist other developing countries who had undergone similar exploitation and subjugation under the colonial rule.As a result of decolonization, the United Nations,at first numerically dominated by European countries and countries of European origin,was gradually transformed into something of a third world forum.The problem of underdevelopment then became the focus of a permanent, although essentially academic debate.Despite the debate,the unity of the third world remains hypothetical,expressed mainly from the platform of international conferences.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year.However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Answer
Other criteria and indicators developed by the United Nations, World Bank and other Breton Woods institutions to measure development and underdevelopment are:
According to world bank, Countries with Gross National Income(GNI) of USD11,905 and less are defined as developing , this was stated by the world bank in the year 2015 and USD 12,275 in the year 2019.
According to United Nations , some of the indicators are:
1.UN’s Human Development Index(HDI) which measures a country’s average achievements in three basic dimensions of human development which are life expectancy, educational attainment and adjusted real incom
2.UN’s Human Poverty Index (HPI) which measures deprivation using percentage of people expected to die before the age 40, percentage of illiterate adults,percentage of people without access to health services and safe water and the percentage of underweight children under five.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Answer
1.Widespread poverty: using Nigeria as a case study, it has been recorded that 63% of persons living within Nigeria with amounts to 133billion people are multinationally poor. This portrays a good example of a developing country.
2.Substantial dependence on agricultural production: this means over dependence on agricultural production and not looking out for other sources of income and if the economy focuses more on subsistence agriculture instead of commercial agriculture, they are likely not to generate income in that aspect to the economy
3.Low levels of productivity: a developing country is more of a consumer than a producer, they consume what they need to keep the economy running instead of trying to produce and when a country consumes more than it produces they tend to have deficit budget.
4.High and rising level of unemployment and underemployment: a developing country most times experiences unemployment because there is no enough resources to cater for every citizen in the nation, some people choice to be underemployed instead of not getting employed at all following the popular say “half bread is better than none”.In Nigeria about 33% of people who are willing to work are not employed,it shows that Nigeria is a developing country.
5.Low level of living:people The standard of living of people in terms of health,comfort,security,material goods etc are being tampered with because of lack of resources, the citizen have no other choice but to live in discomfort while the rich flee out of the country.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree?If yes, why? If no, why?
Answer
Yes, poverty has a face of woman. Women are most affected by poverty, women of nearly all races are face higher rates of poverty than men. “Poverty has a female face and the global economic downturn will have a significant impact on women as more of them lose jobs and are forced to manage shrinking household incomes”as stated by Ezekwesili. For instance, In the United States, more women than men live in poverty. According to U.S. Census Bureau data, of the 38.1 million people living in poverty in 2018, 56 percent—or 21.4 million—were women,women suffers the most in the society in terms of being abused sexually, being forced to becoming a full time housewife also the traditional stereotypes of women remain embedded in many cultures restricting income opportunities and community involvement for many women. Government and also the public should find a way to invest more in women and also help build them.
Answers:
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.
2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.
3.
1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
5.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
6.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
7.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.
These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.
4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.
Overall, I agree that poverty has the face of a woman, as the data and research clearly indicate that women are disproportionately affected by poverty and face unique challenges in breaking out of it
1.)The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.
2.
Some examples of social indicators of development include:
Education levels – for example how many years of schooling children have.
Health – often measured by life expectancy.
Employment Rates
Gender equality
Peacefulness
Democracy
Corruption
Media freedoms
Civil Rights
Crime/ social unrest
Suicide Rates
Composite indicators of all of the above
3.
Even though developing nations have very different backgrounds in terms of resources, history, demography, religion and politics, they still share a few common characteristics.
i. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
ii. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
iii. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
iv. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
v.Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
4.
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities . are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality
1. The Afro-African conference of 1955 in Bandung, Indonesia signaled the beginning of the influence of the third world (or non-aligned states) in international political matters – a meeting so pivotal that the west specifically the United States tried to thwart. In attendance were 29 countries asides from the Indonesian president representing nearly one quarter of the earth surface and a total population of 1.5 billion people. However among these countries, two (China and India) have been most instrumental to the emergence of the third world and the improvement of relations between them and the rest of the world.
As to the international political rank of a country two major factors come to mind, the economic and the military might – some authors have even gone as far as comparing them to left and right arms respectively.
With respect to the above we look at China. Economically we see a country that has arisen from the ashes with GDP growth rate according to the World Bank averaging 9% from 1978 till date with the country being known as the manufacturing hub of the world. A country that has risen so much that it became a threat to the west especially the United States as we can see from the trump trade bans. Militarily we see a permanent member of the United Nations Security Council, ranking 3rd in military might behind only the US and Russia according to the global fire power’s power index.
Following closely behind in all this is India. According to the economic times India’s GDP growth rate from 2000 till 2019 averaged 6 to7% annually. Militarily India ranked fourth behind china, with lots of talks circulating on its addition as a permanent member of the United Nations Security Council. In fact Ukrainian president Volodymr zelenskyy specifically called for India’s participation in the war in Ukraine – a sign that India is becoming influential in the international sphere. Also it recently took charge of the G-20.
These countries have particularly helped to show that the third world will not be relegated to the backseat of international politics, yes they only just began getting treated as equals among nations(many of these countries are young relative to their developed counterparts), but they have a voice and they will be heard.
As these countries are yet developing countries they have boosted the voice of the global south. I guess Alfred sauvy’s “they are nothing and they want to be something” should be extended, “… they will be something” as china and India have shown us.
2. Some of the criteria used presently by the United Nations, the world bank and other Bretton woods institutions (the world bank and the international monetary fund) are :
Percentage of the population with access to electricity
Financial inclusion
Life expectancy rate (Expected life span)
Ease of doing business( 0 = lowest 100 = highest)
Percentage employment in services agriculture and industry for male and females respectively
Fertility rate (total births per woman)
Child welfare rate
Literacy rate (Educational attainment)
Mortality rate (Amount of deaths)
Sanitation
Amount (usually in percentage) of People living with sexually transmitted diseases(Like HIV and AIDs)
3. Some of the common characteristics of developing nations are:
High level of poverty
In developing nations we see a higher level of poverty than in developed countries (a good example is Nigeria – the poverty capital of the world). Poverty is simply the lack of access to basic human needs in the 21st century and having a high level of poverty means majority of the people lack access to those things which the developed world regard as normal. To more exemplify this we can look at the case of electricity in Nigeria and lack of access to basic sanitation in Ethiopia, Uganda, Kenya and Tanzania.
Over dependency on Agriculture or primary production
The majority of the labor force in developing nations are engaged in agriculture of which majority is basically subsistence agriculture. For example in the case of the south Asian economies agriculture engages more than 70% of the population (according to enotesworld.com)
Lack of infrastructure
Infrastructural developments like the development of roads, hospitals, schools and the likes are lagging behind. The ones that have been built have not being maintained properly this makes life difficult for people and businesses in the nation creating a disincentive to invest and further hampering the growth of such nations
High level of unemployment and unemployment
As a result of the lack of utilization of natural resources, lack of workforce planning, low industrial developments and so on the developing nations find themselves with high levels of unemployment usually in double digits. The case of underemployment is even more serious than unemployment, for example in Nigeria we can see cases of a graduate of Engineering teaching in a primary school with a 20,000 naira wage, due to the unavailability of jobs.
High population growth rate
The developing countries usually either have high population growth rates or large populations. This is usually due to lack of family planning, illiteracy especially among the female populace and the advances in health care which has greatly reduced the death rates.
4. I will agree that poverty has the face of a woman. From a statistical point of view according to a World Bank report 1.29 billion people live in abject poverty and women make up 70% of them and with such high proportions we can say that the perfect picture of poverty is women.
Women have to take care of the children and themselves and even in some cases their husbands even though they are disadvantaged economically with low opportunities for growth and inadequate access to education. With patriarchal mindsets permeating every area of their lives.
In fact in times of economic breakdowns such as wars women and children take the brunt of it, with lower education levels due to lack of access to education how can they be productive even when they are migrated to other countries even as their husbands and sons die in the conflict. Removing the extremities of war, it is easier for a man to get a job and produce optimally not just because he had better opportunities at education but also because of the patriarchal system making the employees to give him more respect and support to work effectively and making the woman less productive except with great difficulties For this reason women are usually denied such high ranking positions and reduced to workers in factories who (the management of the factories) usually take advantage of them (women).
The fact that many women want to simply marry rich and enjoy “the baby girl life ” , is a display of the fact that even the women themselves are getting frustrated at the helplessness and seeing the only option as depending on a rich man.
If poverty is lack of basic necessities can we not say that women are ready to strip themselves to the bare of this so that their children can thrive, is this the case for most men, No? In many cases we can see that men abandon their wives especially if they have no male child or whatever other reason they can give. With women told to simply watch and pray.
I have come across some who seem to think that the notion that poverty has a woman’s face is in and of itself misogynistic and that we should not separate such a global disease by genders however the fact remains women are at the forefront of poverty(a fact no one can disclaim) and hence poverty has a woman’s face.
Name: Abonyi Kosiso Sunday
Reg No: 2019/244009
Department : Economics
India and China are currently world powers, but they were a few decades third world countries. The rapid state of economic growth they experienced few decades ago has increased their political might and increased their influence in the world. This growth has rendered positive benefits to third world countries in the form of loans, grants and aids.
2) Some of the major indicators by the UN for measuring development and under development are:
By using the Human Development Index (HDI) :
Longetivity – measured by life expectancy
Knowledge- measured by enrolment at primary, secondary and tertiary levels of education to give mean years of education.
Standard of living – measured by the GDP per capita adjusted for PPP.
3) Common characteristics of developing nations are:
Technological Backwardness:. Technological use in developing countries is very low and used technology is also outdated.
Dualistic Economy: Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities .
Rapid Population growth: Developing nations have a high population growth rate or a larger size of population.
Lower Productivity: In developing nations, the productivity of factors of production is very low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently.
Excessive dependence on agriculture: The majority of the population in developing nations are highly engaged in the agriculture sector, especially in rural areas.
4) I do not agree. Reason, is that is, While it might be true that women are often are often on the forefront of poverty where men are presented to be the main income creator, it still doesn’t mean that one can connect this phenomenon with gender. Poverty is a dangerous phenomenon that doesn’t take into cognizance the gender that is being affected by it. It’s a universal phenomenon that affects everyone though gender inequality can be said to have put more women on the forefront of poverty. It still doesn’t mean that poverty has a woman’s face.
Amushi Arinze Emmanuel
2019/245697
combined social science (economics/psychology)
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
answer
Third World Countries
The French demographer Alfred Sauvy brought into existence the statement “tiers monde” in french in the year 1952 by the analogy with the third estate.
Sauvy stated that the third world is nothing and it wants to be something. the term means that the third world is exploited much as the third estate was exploited and like the third estate its destiny is a revolutionary one . it conveys as well as second idea also discussed by Sauvy that of non alignment for the third world belongs neither to the industrialized capitalists world nor the industrialized communist bloc.
in 1956 a group of social scientists associated with sauvy’s national institute of demographic studies in Paris published a book called “tiers de monde”
by the end of the 1950 the term was frequently employed in the french media to refer to the under developed countries of Asia, Africa, Oceania and Latin America.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
answer
The world bank now assigns the world’s economies into four different groups
*Low
*Lower-Middle
*Upper-Middle
*High income countries
SDR(Special Drawing Rights)
the SDR deflator is used to measure world inflation for annual adjustment to operational and analytical income threshold
HDI( Human Development Interest)
this shows the appreciable level of development of a country.
GDP (Gross Domestic Product)
the rate of goods produced locally In the country and also exported to other country states the stage of development of that country .
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
answer
criteria for measuring developing and under developed countries are below
1. size and income level
2. physical and Human resources
3. High and rising levels of unemployment and under employment
4. widespread Poverty
5. High rate of population growth and dependency burden
6. prevalence of imperfect markets
7. substantial dependency on agricultural production and primary product export .
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
answer
yes
Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. If women are to progress and participate effectively in the economy, they must receive equal education, equal training, in rural and urban sectors and equal dignity and income.Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Development Economics
Name: Ikwuagwu Lucy Ogechi
Reg. No: 2019/245407
Dep: Economics
Email: lucyikwuagwu@gmail.com
2. A. Human development index: this shows the level of human development a country has and it’s measured in very high human development, high human development, medium human development, low human development.
B. GDP: this measures the total amount of goods and services produced in a country in a given year.
3. A. Low levels of living: developing countries can be classified by the level of the citizens life. In developing countries the level of living can be terrible, with a large gap between the rich and the poor.
B. Low levels of production: due to poor management of resources and resources and sometimes corruption, developing countries tend to have low levels of production.
C. Traditional, rural social structure: the rural areas of developing countries and their urban areas are like night and day. Low to little signs of development, backward thinking, low medical facilities, lack of technology and innovation.
4. I disagree, poverty doesn’t have the face of a woman. Men can look poor and desolate. In my own opinion, women have been associated with the image of poverty due to their meek nature or at least they are viewed to be meek and gentle, easily swept away by the destitutes of life, so the miserable image of poverty can be tagged to their face. Imagine a woman struggling to care for five or more children with no means of feeding them, managing the same clothes, carrying her market ware on her head, cooking on a firewood stove, etc. This miserable image is what they associate poverty with.
Name: Ubazoro Chukwuemeka George
Reg no: 2019/251195
Department: Economics
China and India were countries which few decades ago were classified in the third world countries have emerged to become world powers. This rapid state of economic growth has increased their political might and increased their influence in the world. This growth has rendered positive benefits to third world countries in the form of loans, grants and aids.
2) Some of the major indicators by the UN for measuring development and under development are:
By using the Human Development Index (HDI) :
Longetivity – measured by life expectancy
Knowledge- measured by enrolment at primary, secondary and tertiary levels of education to give mean years of education.
Standard of living – measured by the GDP per capita adjusted for PPP.
3) Common characteristics of developing nations are:
Mass poverty: Most individuals in developing nations suffer from the problem of poverty. They are unable to fulfill their basic needs.
Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developing countries. The average income of developing nations is very little and is not sufficient to invest or save.
Rapid Population growth: Developing nations have a high population growth rate or a larger size of population.
The problem of unemployment and under-employment: The problem of unemployment and underemployment is emerged due to excessive dependency on agriculture, lack of workforce planning , lack of proper utilization of resources etc.
Excessive dependence on agriculture: The majority of the population in developing nations are highly engaged in the agriculture sector, especially in rural areas.
4) I disagree and I do not think that one should put a face to the world’s disease, called poverty. While it might be true that women are often are often on the forefront of poverty where men are presented to be the main income creator, it still doesen’t mean that one can connect this phenomenon with gender. Poverty is a dangerous phenomenon that doesn’t take into cognizance the gender that is being affected by it. It’s a universal phenomenon that affects everyone though gender inequality can be said to have put more women on the forefront of poverty. It still doesn’t mean that poverty has a woman’s face.
Name: Ogbonna Sandra Chinenye
Reg No: 2019/245659
Department: Economics
1:The political landscape of other developing countries and the interaction between the third world and industrialized countries were significantly shaped by China and India, two big third world countries with radically different social and economic systems. The political and economic landscape of the world has been significantly impacted by both China and India, which are capitalist and communist countries, respectively. Due to their initiatives, a more aggressive third world has emerged, challenging the industrialized world’s hegemony and promoting greater economic and political independence for developing countries.
2:This simply entails that developing nations have been classified based on their annual Gross National Income (GNI) per capita. To measure development and underdevelopment, the UN, World Bank, and other Bretton Woods Institutions have created a wide range of additional standards and metrics such as Gross domestic product (GDP),Human Development Index (HDI),Gender Development Index (GDI),Multidimensional Poverty Index (MPI),Poverty headcount ratio etc
3:a:Low income: In comparison to industrialized countries, developing countries have lower per capita earnings. This indicates that the typical worker in a developing country makes less money than the typical worker in a developed country.
b: High levels of poverty: Many people in emerging countries are impoverished as a result of poor incomes. Lack of access to basic requirements like food, clean water, and shelter is one way this can appear.
c:High population growth: Developing nations often have high population growth rates, which can put strain on resources and infrastructure.
d:High unemployment or underemployment: Developing nations often have high levels of unemployment or underemployment, which can contribute to poverty.
e:Dependence on agriculture: Many developing nations are heavily dependent on agriculture for their livelihoods, which can make them vulnerable to fluctuations in commodity prices and weather patterns.
4:Yes, I agree to the statement “poverty has the face of a woman” because this actually refers to the idea that women are disproportionately affected by poverty. This is true due to a variety of factors like discrimination and gender-based violence, lack of access to education and economic opportunities, unpaid care work, etc
ONYELEONU PRECIOUS OLUOMACHI
REG NO: 2019/248162 DPTM: ECONOMICS
ECO 361
1.The Bandung conference in 1955 was the beginning of the political emergence of the third world. As a result of decolonization, the United Nations at first, numerically dominated by European countries and countries of European origin,was gradually transformed into something of the third world forum.. With increasing urgency,the problem of underdevelopment then became the focus of permanence, although essentially academic debate.Despite that debate,the unity of the third world remains hypothetical, expressed mainly from platforms of International conferences.
.2. Although development can be measured through various forms,,the United Nation’s Human Development Index (HDI) measures development through the following dimensions.
a) Life expectancy
b) Educational Attainment
c) Adjusted Real Income
While that of Un’s Human Poverty Index (HPI) is measured by
a) Percentage of people expected to die before age 40
b). Percentage of illiterate adults
c) Percentage of people without access to health services and safe water
d) Percentage of underweight children under 5
3. Some characteristics of a developing nation include:
LOW PER CAPITA REAL INCOME
Low per capita income is one of the most defining characteristics of developing economies. They suffer from low per capita income level, which results in low savings and low investments. It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty. ( the minimum income level) is high in developing countries.)
HIGH POPULATION GROWTH RATE
Another common characteristics of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in higher labor force for family to earn income. This increases in recent decades could be because of higher birth rates and reduced death rates through improved health care.
HIGH RATES OF UNEMPLOYMENT
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
DEPENDENCE ON PRIMARY SECTOR
Almost 75% of the population of low income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
GENERAL POVERTY LEVEL AND LOW LIVING STANDARD
Poverty cannot be described, it can only be felt. The most of the less developed countries (LDC) are facing the major problem of general as well as absolute poverty and low standard of living. Most of the people in developing nations are ill-fed, ill-housed, ill-clothed and ill-literate.
4. I’ll gladly oppose the motion that says,” Poverty has the face of a woman”
This is because,,gone are the days when women are financially dependent.. Women of this generation are ever ready to legitly venture into a well-paying hustle,just to make money,,create wealth,,lessen the financial burdens on their makes counterparts and in general making a society a better place for all to live in..
Education of women has helped in this aspect, because it helps create ideas and enlightenment women on the positive needs of being financially independent. With this,,there will be an eradication of labour-market discrimination and which will in turn increase their salaries..
Finally,,women are proactive, persistent and creative and these are the sole features of wealth creators,and since they have these features plus their distinct ideas,, making money would be something so significant for them…
NAME: AMATU JENNIFER CHIKAODI
REG NO:2019/249035
DEPARTMENT: ECONOMICS
Q1. As a result of decolonization, the UN at first numerically dominated by Europe communities and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, through the essentially academic debate. Despite that debate, the unity of the third world remain hypotheticallybpressed mainly from the platforms of international conference.
Q2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.
The criteria by UN takes into consideration of development indicators like Human development Index(HDI),and Human poverty Index (HPI). According to UN,Countries with high HDI are developed while countries with low HDI are less developed. Also,countries with low HPI are developed,while countries with high HPI are less developed.
Q3. Low level of living: this simply means that a segment of the population of a country does not have adequate access to much wealth and basic services and amenities necessary for living, lack of food, shelter, clothing etc.
Low levels of productivity: this means that resources are not being used to their highest and fulest capacity, that is they are not utilizing their skills and competences to their maximum potential which in turn increases a company’s resources costs.
High rate of population growth: this occurs when the population of an economy or country exceeds the available resources to sustain and neet the basic need of the citizens in that economy.
Traditional and rural social structure: traditional structures can hinder development due to lack of urbanization and acceptance of new innovations and ideas for the improvement of that particular region or economy.
Wide spread poverty: this occurs when most regions in an economy are extremely poor occuring in most individuals. This state of poverty reduces the level of living making life extremely hard and un sustainable for individuals in those regions of the economy.
Substancial dependence on agriculture: this implies to over dependence on agriculture mainly for consumption and not for commercial purposes. Even exporting of only agricultural products can limit a country’s development.
Feeding the government: when the government extorts its citizens and uses the money for their own personal gain it leads to under development. Not meeting the need of the people by providing good roads, jobs, Infrastructure etc, leading to low level of living in the lives of the individuals in the economy.
Increase in unemployment: this occurs when the number of youths in the economy are without jobs, this may lead to increase in crime thus hinders Development in that economy.
Q4. I agree with the argument ‘ Poverty has the face of a woman’. My reasons for agreeing to the argument are:
Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
NAME: ANYANWU FAVOUR EBUBECHUKWU
REG.NO:2019/245648
COURSE: DEVELOPMENT ECONOMICS (ECO 361)
ASSIGNMENT
1.
2i.Infant Mortality Rate
ii.Life Expectancy
iii.The Human Development Index (HDI)
iv.Literacy Rate
v.GNP per Capita
vi.Birth and Death Rate
3i. Wide Spread Poverty:Poverty is one characteristic of developing countries because most of the population struggle to meet up with their standard of living.And the population lives in abject poverty.
Ii.Low level of productivity:Productivity rate in developing countries is very low due to fact that there’s a wide range of poverty and the population relies on their basic income and needs.
iii. Reliance on agriculture and primary product exports:The majority of population in the developing countries are engaged in agriculture.Their only and main source of income relies solely on agriculture.
iv.Rising population growth: Developing countries are characterized with high rate of population growth or by large population size.
4.Yes i agree that “poverty has a face of a woman”.My reason is that women face the triple burden of child bearing,child rearing and domestic unpaid labour.They have been denied opportunities for growth are without access to adequate healthcare, education or income and simultaneously forced to live in the tight bind of culture.
Name: Ezurueme Ogechi
Dept: Economics
Reg No : 2019/251620
QUESTION 1
Research conducted for the purpose of contributing towards science by the systematic collection, interpretation and evaluation of data and is carried out in a planned manner is called scientific research. Scientific research is designed to meet the lack of knowledge, to compile and link things and concepts spread or mixed in understanding or application, or to achieve new scientific knowledge derived from the procedures and results of scientific research. Meanwhile, non scientific research is research conducted without any systematic methods and scientific basis. In non-scientific research, intuition, personal experience, and personal beliefs are used as techniques to reach a conclusion. Thus, conclusions in non-scientific research are basically based on personal thinking and presumption. The difference between scientific research and non-scientific research are:
A. The key difference between scientific and non-scientific research is that scientific research can be repeated several times using the same methods and data, whereas non-scientific research cannot be repeated since it uses intuition, personal experience, and personal beliefs.
B. Both scientific and non-scientific research studies vary from one another in their methods. Basically, scientific research uses a logical process in conducting the research, whereas non-scientific research uses techniques and strategies that do not contain a scientific base in acquiring knowledge.
C. In scientific research, data is collected using different techniques such as observation, formulation, and testing hypotheses. On the other hand, in non-scientific research, data collection only uses observation.
D. Scientific research is objective, while non-scientific research is subjective.
E. Scientific research follows a logical and systematic process in arriving at a conclusion but, in non-scientific research, only the beliefs and expectations of people are considered in arriving at a conclusion.
QUESTION 2
The characteristics of scientific research includes:
1. Empirical: A cardinal feature of a scientific research work is that it is empirical. Simply put, this means that it can be verifiable. Thus for a work to qualify as a scientific work, persons should be able to verify the truth or otherwise of the said research work. Thus with a knowledge of the materials and tools used by the original research and an understanding of the research procedure, any third party with the requisite knowledge should be able to verify the said research work.
2. Objectivity: All scientific knowledge are objective as opposed to being subjective. This simply means that they are considered from the general perspective as opposed to being considered from the personal perspective. The purpose of a research work is usually to solve a problem or give explanation to a problem. This makes it very important for such work to be conducted from an objective point of view. Also, a work will get easily verified and serve the general public more easily when it is conducted objectively. A research work bearing and carrying the personal positions, feelings, untested ideas and idiosyncrasies of a researcher cannot thus qualify as a scientific research.
3. Ethical: Science does not exist on an island of it’s own, but exists within the framework of the human environment. Thus true and acceptable science must in some ways, put into consideration the values, morals, and ethical considerations of the society. Any research work that gravely objects to key and fundamental tenets and beliefs of the society is greatly objected to and as such loses general acceptance. For instance, the sacred nature of life is a core value in the society, thus a research work that threatens this core principle will be stiffly objected to and would ordinarily lose its scientific flavour.
4. Systematic Exploration: Scientific research require verification and the only way a scientific research can be verified is where there is a systematic exploration which can be repeated. This means that a key feature of a scientific research is that it follows some particular steps and procedures and if these steps and procedures are repeated by any other person within a specific condition, the same result can be attained. This is why scientific research normally involves well laid out steps and detailed introductory explanation on the conditions within which the research has been carried out. This systematic exploration mechanisms laid down allows for a detailed and accurate repetition of the research work and the materialization of a similar result.
5. Reliable: It is a key feature of a research work qualified as scientific to be reliable. Reliable in this sense means that any other person may replicate similar results by following the systematic procedures laid down. If a research work cannot be relied upon by others and a similar result replicated, then it cannot be qualified as a scientific research. This is why there is a need for a systematic exploration in scientific research works so that these laid down steps can be easily followed and a similar result attained. It is only when this is present that such research work my be considered as being reliable by the majority of the public and also readily accepted.
6. Accuracy: All scientific research works must have this all-important feature of being accurate. A research work usually lays down the goals at the beginning stage and the results aimed to achieve at the end. This end result must be attained a 100 percent. The precise nature of science increases the reliability of scientific research works. Science does not leave room for speculations and doubts as these may prove to be really costly in the long run. Any research work that does not show precision and exactitude cannot does qualify to be considered a scientific research work.
7. Predictability: A good scientific research work should be predictable. This simply means that at the very early stages of the research work, a researcher should be able to predict the outcome. Due to the precise nature of science and scientific works, they are very easily predictable. Science does not allow for huge uncertainties and unknown variables. All unknown variables and uncertainties must therefore be eliminated so as to allow for a more predictable and reliable result.
8. Replicated: A scientific work will be of little to no relevance of it cannot be replicated following a systematic exploration/ procedure laid down by the originator. The possibility of replicating a particular research work and attaining a result which is exact with the original research is what makes for the general acceptability of scientific works. The fact that a research conducted in a lab in Europe can be replicated in Africa and a similar result attained qualifies such research as being scientific. If after the due procedures and steps are followed, a similar result cannot be attained, then the research work cannot be termed scientific.
9. Controlled: All scientific research works are usually examined under a controlled environment. This allows for specific variables to be known as the knowledge of these variables allow for ease of repeating the said research work. All of the controlled variables must be made known so that a person who wishes to carry on the research can do so and attain a very similar result.
10. Objective/ Goal: Lastly, all scientific research works have a specific objective or goal as the end result in the mind of the researcher. Research are not just carried out without any objective or goal in mind. A research work is usually carried out with the aim of solving some world problems or making some new innovations. Thus, all scientific research must have a goal as the end product. This goal serves as the driving force for such research work.
Name: Ezurueme Ogechi
Dept: Economics
Reg No. : 2019/251620
Level: 300L
QUESTION 1
As a result of decolonization the United Nations at first dominated by the European countries and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency the problem of under-development then became the focus permanent although essentially academic, debate. Despite that debate the unity of the third word remains hypothetical expressed mainly from the platforms of international conferences.
QUESTION 2
1. HUMAN DEVELOPMENT INDEX: This measures a country’s average achievements in three basic dimensions of human development and they are life expectancy, educational attainment and adjusted real income ($PPP)
2. UN’S HUMAN POVERTY INDEX (HPI): This measures the deprivation using percentage of people expected to die before 40, percentage of illiterate adults, percentage of people without access to health services and safe water and percentage of underweight children under 5.
QUESTION 3
A. Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
B. Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
C. Rapid Population Growth: Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
D. The Problem of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
E. Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
F. Technological Backwardness: The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
G. Lack of Infrastructures: Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
H. Lower Productivity: In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
I. High Consumption and Low Saving: In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
QUESTION 4
In my personal opinion the statement in itself “Poverty has the face of a woman” is vague as it does not clarify if women are causes of poverty in the society, if women face higher rate of poverty than men in the society, etc. Assuming the statement to mean that women are the causes of poverty, I do not think that one should put a face to the world’s disease, called poverty. Although at a very minimal rate, poverty is found even in the most developed countries of the world and as such should not be attributed to a woman. Moreover, this statement has not been scientifically proven to be true this I disagree with the statement.
Name: Abasilim Chisom Judith
Reg no: 2019/249128
Dept: Economics
1 . As China’s growing global role and increasingly hardline policies at home and abroad gain attention, the United States and other Western governments are also taking notice of China’s expanding influence in developing countries. The implications of China’s growing investments linked to the Belt and Road Initiative (BRI), its ambitious global infrastructure and connectivity program, are increasingly debated. So, too, are the nature of Chinese Communist Party (CCP) efforts to popularize its authoritarian model and undermine developing democracies around the world, whether intentionally or indirectly.1 In November, Vice President Pence noted that the administration, through its Indo-Pacific strategy, intends to bolster the rule of law and human rights in regional countries facing growing influence from China.
Such attention is welcome, and it has spurred numerous analyses on the drivers of China’s growing influence efforts, with most focused on external factors in benjing’s calculus China seeks influence due to many geostratrgic considerations such as the protection of sea lanes critical for the transport of energy and the establishment of military facilities to protect China’s growing global interests. However, much of the foundation for China’s growing influence in developing countries is found inside China, where the CCP faces a mounting set of challenges to its rule that dominate its attention. As Washington considers how best to address China’s push for influence across the developing world, it is critical to have a clear understanding of the domestic imperatives at play.
2 . Per capita income
UN’s human development index
UN’S human poverty index
3. Low per capita real income
The real per capita income of developing countries is very low as compared to developed countries. This implies that the average income or per person income of individuals in developing nations is little and not even sufficient to invest or save. Low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
High rate of poverty
Most individuals in developing countries suffer from a vicious cycle of mass poverty. They are unable to cater for basic needs such as food, clothing and shelter. This is as a result of low per capita income, unemployment, illiteracy, mismanagement of public funds and so on.
Unemployment and underemployment
Unemployment and underemployment are common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries come up due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs.
Excessive dependence on subsistence agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. They depend on Agriculture as the only sole source of income and employment in such nations. Most of this countries don’t have efficient equipment to expand agriculture and even export agricultural produce to other countries.
Low level of literacy
In developing countries, there is low level of literacy. Which is one of the causes of unemployment. Even students are not properly taught in school due to lack of a conducive environment for learning and the required equipment to enhance education.
Lack of infrastructure
Developing countries lack proper infrastructure like good roads, transport system, good schools, proper sewage disposal and so on.
Rapid population growth
Developing countries have either a high population growth rate or a larger size of population.
The higher child and infant mortality rates in such countries push people to give birth to more children. Lack of family planning education, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children.
4 . Poverty has the face of a woman
Globally, women are faced with the invisible burdens of gender inequality which are entrenched deeply within institutional structures and communities as a whole. These prejudices may limit a woman’s access to higher employment and assistance programs, ultimately leading to higher rates of poverty.
In many developing countries, women are more likely to be denied an education, as nearly 25% of all girls have not completed primary school education and two-thirds of women make up the world’s illiteracy rate. In Somalia, for example, only 7% of girls are enrolled in primary school. The lack of education among women may result in higher pregnancy and poverty rates. According to the United Nations Girls’ Education Initiative, a girl’s education is a driving force in their economic well-being. Somalia suffers from one of the world’s worst educational systems and is one of the poorest countries as well, having a poverty rate of 73%. With education, females can increase their access to higher-paying jobs, and thus, benefit the family’s income., which results in a positive cycle for generations, bettering the economy overall.
Women Are Paid Less
Despite having the same qualifications and working the same hours, women are more likely to get paid less than men. Worldwide, women earn nearly 20% less than men. These variances within wages affect women in low-paying jobs and poorer countries dramatically. Closing the gender wage gap can result in overall equal income distribution. In the United States alone, closing the wage gap would mean that half the poverty rate working women and their families would be cut.
Women and girls are disproportionately affected by poverty and many have little or no say in the decisions which affect their lives. They often get less food, receive less education, and are disproportionately affected by poor sanitation. Many have little or no money of their own which makes them dependent on others.
This power imbalance also means they are often subject to sexual and physical violence, impacting on both their physical and mental health, and their overall wellbeing. This once again impacts on other areas of their lives, such as their ability to make a living.
Name: Onu Chinecherem Excellence
Reg. No. 2019/241446
Dept. Economics
Assignment on Eco 361
1. Two Nations whose social and economic system were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
Answer: China operated the socialist market economy, which acts as the model for it’s economic development. It is majorly public owned or state owned enterprises. One of the ways through which China played a great role is the adoption of working fiscal policy or revenue distribution which goes top-down along the administrative hierachy in China : the central, provincial, prefectual country and township government are the last to enjoy the defacto power to make development blueprint.
China Fiscal system has experienced three large rounds of development of which all of the concentrated on the revenue sharing arrangement. It adopted an open-door policy which created a stance to achieve economic growth through active introduction of foriegn capital and technology while maintaining it’s commitment to socialism. They also established a number of areas for Foreign Investment
Also, inflow of foreign capital, technology, and management knowhow enabled China to turn its vast labor resources and space to rapid economic growth. The shift to an open-door economic policy ushered in a period of high economic growth in the first half of the 1980s. The economy stagnated around the time of the Tiananmen Square Incident in 1989, but in the first half of the 1990s, China was again boasting high growth rates. Rapid economic growth was accompanied by a rise in per capita GDP. The economy of India has transitioned from a mixed planned economy to a mixed middle-income developing social market economy with notable state participation in strategic sectors. It is the world’s fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP).
Using China and India as a case study, the state has a great role to play in the production, management and efficient allocation of resourses which has to start firstly with efficient utilization of naturally endowed resources which attracts foreign investors and leads to economic boom.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Answer:The indicators and crietria for measuring development and underdevelopment as mapped out by the United Nations, World Bank and Other Bretton World Institution are as follows: UNDP’s country classification system is calculated from the Human Development Index (HDI),which aims to take into account the multifaceted nature of development. HDI is a composite index of three indices measuring countries achievement in longetivity, education and income. It also recognizes other aspects of development such as political freedom and personal security. The 2013 report which follows on from the 2010 report used the Gross National Income per capita (GNI/n) with local currency estimates converted into equivalent US dollars. It also uses equal country weights to construct the HDI distribution. In the classification system, developed countries are countries in the top quartile of the HDI distribution. Developing countries consists of countries in the high group (HDI percentiles 51-75), medium group (HDI percentiles 26-50), and the low group with bottom quartile HDI. Currently, 47 countries out of 186 compared.
To identify high HDI achievers and consequently developed countries, the UNDP used a number of factors. One way is is to look at countries with positive income growth and good performance on measures of health and education relative to other countries at comparable levels of development. Another way is to look for countries that have been more successful in closing the “human development gap,” as measured by the reduction in their HDI shortfall (the distance from the maximum HDI.
The World Bank’s Country Classification Systems
The classification tables include all World Bank members, plus all other economies with populations of more than 30,000. The World Bank’s classification of the world’s economies is based on estimates of gross national income (GNI) per capita. Previous World Bank publications might have referred to this as gross national product, or GNP. The GNI is gross national income converted to international dollars using purchasing power parity rates. The GNI per capital is also used as input to the Bank’s operational classification of economies, which determines their lending eligibility. The most current World Bank Income classifications by GNI per capita (updated July 1 of every year) are as follows:
Low income: $1,025 or less
Lower middle income: $1,026 to $4,035
Upper middle income: $4,036 to $12,475
High income: $12,476 or more
Low- and middle-income economies are usually referred to as developing economies, and the Upper Middle Income and the High Income are referred to as Developed Countries.
The World Bank adds that the term is used for convenience; ‘it is not intended to imply that all economies in the developing group are experiencing similar development or that other economies in the developed group have reached a preferred or final stage of development’.
The IMF’s Country Classification Systems
The main criteria used by the IMF in country classification are i) per capita income level ii) export diversification iii) degree of integration into the global financial system. The IMF uses either sums or weighted averages of data for individual countries.
3. Clearly discuss and analyze the common characteristics of developing Nations.
Answer:
Low productivity:the level of outcomes or productivity in a developing is usually very low as a result of inadequate implements, low level of manpower, lake of incentives to work and also laziness.
High rate of unemployment and underemplyment: Unemployment is global problem, but the rate at which poeple who are willing and able to work can’t find a well paying job is alrming in developing countries or those who are working are just working anywhere so as to put food on the table is on the increase in developing countries.
High rate of poverty: the standard of living in developing countries are very low, making it’s citizens to live in abject povery such that meeting the basic requirements for living such as clothing, housing and shelther becomes a problem.
Dependency and vulnerability: In most developing countries, the rate of dependency is high and citizens stands the risk of being open to risk or harm either physically or emotionally.
Overdependence on Agriculture: It is in developing countries that subsistent farming is the major mode of production which does not provide for half of the teaming population.
High rate of population increase and dependency burden: Increase in population is supposed this be a thing of great impact to any country but on the contrary when the resources need the to care for such population is not available it becomes a treat to the development of such Nation. So high rate of population increases dependency and it’s mostly a problem to developing nations.
Underutilization of natural resources: Every Nation of the world is endowed with it’s own perculialities of which when harnessed properly will attract a higher development. But when this natural endowments are not properly harnessed and utilized development is hampared.
Low level of human capital development: Human capital such as education health and skill is vital for evonomic development. Inhuman development index, we noted that there is a very big gap in human capital between developed and developing nations. The developing country lacks human capital which is responsible for low productivity. Less education and skill makes people to be less adptive to change and lowers their ability to organize and manage industries.
Ttaditional, rural and social structures: most developing countries still have old structured buildings, bad roads, tatched houses everywhere and most of this rural areas will hold tenaciously to thier customs and tradition and tell the government that this is how this place has been since the days of our forefathers, roads can’t go through here because it is a shirine and many more of such. Things like this hinders development and keeps some countries very far from development.
Overdependence on importation: Developing countries depend majorly on importation of almost everything needed for essential survival. Inport is always higher than export in the Balance Of Payment.
4. It has been argued that poverty has the face of a woman. As a Budding Economist, clearly discuss and analyze the statement. Do you agree or disagree. If yes why? Or no why?
Answer: poverty is basically the condition or state whereby someone does not have enough money to meet the basic needs such as food,clothing and shelter. Poverty can be both individual or societal problem.
I AGREE TO THE STATEMENT. REASON: women are the ones that are affected by poverty most, this means that women are always at the receiving end of many danger. Economic crisis tends to hit women mostly because they are the ones that carry most prevalent family problem like caring for children, ensuring their safety so women can give up anything to see that the household is safe. Women are mostly discriminated and exposed to violence. Just as inequality creates a huge gap between the rich and the poor, same way women are been discriminated today with the notion that men are supposed to be at the top of affairs.
Just as poor nations, women are mostly depressed, angry, hungry, frustrated, lonely and isolated, always trying to find something to eat. Women as the face of poverty results in children who are poor.
NAME: OJOMAH FAVOUR ONYEKACHUKWU
REG NUMBER: 2019/244245
DEPARTMENT: ECONOMICS
COURSE CODE: 361
COURSE TITTLE: DEVELOPMENT ECONOMICS 1
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
China and India are two of the largest and most populous countries in the world, and their political and economic systems have been sharply opposed throughout much of the 20th century. China adopted a communist system of government and state-controlled economy following the Chinese Revolution in 1949, while India adopted a democratic system of government and mixed economy after gaining independence from British colonial rule in 1947.
Both countries played a major role in promoting the political emergence of third-world countries in the post-World War II period. China and India were among the founders of the Non-Aligned Movement, which was established in 1955 and brought together newly independent countries from Africa, Asia, and Latin America. This movement sought to promote political and economic independence from the major world powers and to build a more equitable and just international order.
China and India also played a role in changing the relations between the third world and the industrial countries, capitalist and Communist. China’s communist revolution and its subsequent economic growth, which was based on state-owned enterprises, provided an alternative development model for many third-world countries, particularly in Africa and Asia. India, on the other hand, with a mixed economy and its democratic system, provided an alternative model of development based on a mixed economy, which relied on private and public sectors and decentralized planning.
The emergence of China and India as major economic powers in the 21st century has also had a significant impact on the global economy and the relations between developed and developing countries. Their growing economic influence has challenged the traditional dominance of the industrialized countries and has led to a shift in the balance of power in the international system.
In conclusion, China and India, with their different political and economic systems, played a major role in promoting the political emergence of the tthird-worldcountries and in changing the relation between the third world and the industrial countries, capitalist and Communist. They provided different models of development for the third world countries and challenged the traditional dominance of the industrialized countries, which led to a shift in the balance of power in the international system
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank, and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and underdevelopment.
Yes, that is correct. Gross National Income (GNI) per capita is one of the traditional ways of defining and measuring the level of development of a country. However, it is not the only indicator used by organizations such as the United Nations and World Bank to measure development and underdevelopment.
Other indicators and criteria commonly used include:
1. Human Development Index (HDI): This index, developed by the United Nations Development Programme, measures a country’s development based on three factors: life expectancy, education, and standard of living.
2. Multidimensional Poverty Index (MPI): This index, developed by the Oxford Poverty and Human Development Initiative, measures poverty based on 10 indicators of education, health, and living standards.
3. Gender Development Index (GDI): This index, also developed by UNDP, measures gender inequality in terms of access to education and healthcare, as well as economic activity and political representation.
4. Gini coefficient: This measure of income inequality, ranges from 0 to 1, with 0 indicating perfect equality and 1 indicating perfect inequality.
5. Poverty headcount ratio: This measure of poverty calculates the percentage of the population living below a certain poverty line.
6. Access to basic services: This measure looks at access to services such as education, healthcare, clean water, and sanitation.
7. Economic growth: This measure looks at the rate of economic growth in a country, which can indicate whether a country is developing or not.
8. Infant Mortality rate: This measures the number of deaths of infants under one year of age per 1,000 live births in a given year.
9. Life expectancy: This measure looks at the average number of years a person can expect to live.
10. Access to finance and credit: This measure looks at the availability of financial services such as banking and credit, which can help individuals and businesses invest in their own development.
These indicators and criteria are not mutually exclusive and are often used in combination to provide a more comprehensive understanding of a country’s development status.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
1. Low-income levels: Developing nations typically have lower per capita income levels than developed countries. This means that individuals in these countries have less money to spend on necessities such as food, housing, and healthcare.
2. High poverty rates: Due to low-income levels, many people in developing nations live in poverty. This can be defined as not having enough resources to meet basic needs, such as food, shelter, and healthcare.
3. High unemployment or underemployment: Developing nations often have high rates of unemployment or underemployment, which means that many people are not able to find work or have jobs that do not fully utilize their skills or pay enough to meet their needs.
4. Limited access to education and healthcare: Developing nations often have limited access to education and healthcare, which can make it difficult for people to improve their living standards or access the services they need to stay healthy.
5. Dependence on primary goods exports: Developing nations often depend heavily on exporting primary goods such as raw materials and agricultural products, which can be subject to price volatility and can limit economic growth potential.
6. Political instability: Developing nations often experience political instability, which can make it difficult for governments to provide basic services and create an environment conducive to economic growth.
7. High population growth: Developing nations often have high population growth rates, which can make it difficult to provide enough jobs, housing, and other resources to meet the needs of a growing population.
8. Environmental degradation: Developing nations often have fewer resources to invest in environmental protection and may experience high levels of environmental degradation as a result of economic activities.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
The statement “poverty has the face of a woman” suggests that women are disproportionately affected by poverty. This is supported by data and research, which show that women are more likely to live in poverty than men and that poverty has a greater impact on women than on men.
One reason for this is that women often have less access to education and job opportunities than men, which can limit their earning potential and make it more difficult for them to escape poverty. Additionally, women are often responsible for caring for children and other dependents, which can make it difficult for them to work or seek education.
Another reason is that women are more likely to be in informal sector, where they are not protected by labor laws and have less access to benefits such as healthcare and paid leave.
Additionally, gender discrimination and bias can prevent women from fully participating in the economy and accessing the same opportunities as men. This is particularly true for women from marginalized communities, who may face multiple forms of discrimination based on factors such as race, ethnicity, and class.
In conclusion, I agree that poverty has the face of a woman. Women are disproportionately affected by poverty, and there are several factors that contribute to this, including lack of access to education and job opportunities, caregiving responsibilities, and discrimination and bias
OKORO OLUCHI RUTH (2019/241597)
ECONOMICS DEPARTMENT
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
Answer:
China and India are two of the largest and most populous countries in the world, and their political and economic systems have been quite different. China is a communist country, with a government-controlled economy, while India is a democratic country with a mixed economy. Despite these differences, both China and India have played significant roles in the political emergence of third world countries and in changing the relationship between the third world and the industrialized countries.
One of the ways in which China and India have promoted the political emergence of third world countries is through their participation in international organizations such as the Non-Aligned Movement and the G-77. These organizations have provided a platform for third world countries to assert their political and economic independence and to challenge the dominance of industrialized countries.
Both China and India have also played key roles in economic development in the third world through their trade and investment. China has become one of the largest trading partners of many third world countries, while India has been a major provider of technical assistance and investment. These economic ties have helped to boost economic growth and development in the third world.
Additionally, the two countries have different foreign policy approach, China has been more assertive in terms of its relations with other countries and has sought to expand its influence and power through economic, military, and diplomatic means, whereas India has traditionally followed a non-aligned foreign policy and has sought to maintain good relations with all countries. This difference in foreign policy has also had an impact on the relations between the third world and the industrialized countries.
Overall, while China and India have different economic and political systems, they have both played important roles in promoting the political emergence of third world countries and in changing the relationship between the third world and the industrialized countries.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Answer:
Traditionally, developing countries are defined according to their Gross National Income (GNI) per capita per year. Countries with a low GNI per capita are considered to be developing or underdeveloped. However, as the concept of development has become more complex and multifaceted, the United Nations, World Bank, and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and underdevelopment.
One of the main alternative indicators used to measure development is the Human Development Index (HDI). The HDI is a composite measure that takes into account three key dimensions of human development: health, education, and standard of living. It provides a more comprehensive picture of a country’s level of development than just income alone.
Another important indicator is the Multidimensional Poverty Index (MPI). It captures the acute deprivations that people experience across multiple dimensions of their lives, such as health, education, living standards and standard of living.
The Gender Development Index (GDI) and Gender Empowerment Measure (GEM) are indicators that specifically focus on gender inequality and how it relates to development. GDI measures differences in achievements in three basic dimensions of human development between females and males, while GEM measures the relative empowerment of women in a society based on economic, political and social indicators.
The Sustainable Development Goals (SDGs) adopted by United Nations in 2015, also provide a comprehensive set of indicators to measure progress towards sustainable development. The SDGs include 17 goals and 169 targets that cover a range of economic, social, and environmental issues, such as poverty, hunger, health, education, and climate change, and provides a holistic view of development.
In conclusion, while Gross National Income (GNI) per capita is still an important indicator of a country’s level of development, it is not the only one. Other indicators such as HDI, MPI, GDI, GEM and SDGs provide a more comprehensive view of a country’s development and underdevelopment and are increasingly being used by the United Nations, World Bank, and other Bretton Woods Institutions to measure and understand the complex phenomenon of development.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Answer:
Developing nations, also known as less developed countries (LDCs), are characterized by a range of economic, social, and political factors that distinguish them from developed nations. Some of the common characteristics of developing nations include:
Low levels of economic development: Developing nations generally have lower levels of gross domestic product (GDP) per capita, lower levels of industrialization, and a higher dependence on agriculture and primary industries. They also tend to have weaker and less diversified economies, and are more vulnerable to external economic shocks.
High levels of poverty and inequality: Developing nations tend to have higher poverty rates, and a larger proportion of their population living below the poverty line. Income and wealth inequality is also typically higher in developing nations, with a small proportion of the population controlling a large share of the country’s wealth.
Low levels of human development: Developing nations tend to have lower levels of human development, as measured by indicators such as life expectancy, literacy rates, and access to healthcare and education.
High levels of population growth: Developing nations tend to have higher population growth rates, which can put pressure on resources and infrastructure, and limit economic growth.
Political instability and weak governance: Developing nations tend to have weaker and less stable political systems, with higher levels of corruption and a lack of accountable institutions. This can lead to a lack of effective governance, which can impede economic and social development.
Environmental degradation: Developing nations are more vulnerable to environmental degradation and natural disasters due to factors such as poverty, weak governance, and a lack of resources for environmental protection.
Dependence on foreign aid: Developing nations tend to be more dependent on foreign aid for economic and social development, which can make them more vulnerable to the changing priorities of donor countries.
Lack of access to technology and innovation: Developing nations tend to have less access to technology and innovation, which can limit their ability to compete in the global economy and improve their standard of living.:
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If no, why?
Answer:
Yes.
According to Tahira Abdullah, “Poverty has a woman’s face.”
Women tend to have lower income and higher poverty rates than men. This is due to a number of factors such as the gender pay gap, lack of access to secure and well-paying jobs, and the disproportionate burden of caregiving responsibilities.
Research and data have consistently shown that women are more likely to live in poverty than men. For example, a report by the World Bank found that in developing countries, women are more likely than men to be living in extreme poverty, with 70% of the world’s poorest people being women.
Women are also more likely to be affected by poverty in different ways, such as experiencing food insecurity, lack of access to healthcare, and being at risk of domestic violence and other forms of gender-based violence.
UGWUANYI NKEONYE LAUREL
2019/243315
ECONOMICS MAJOR
1) Two nations whose social and economic systems were sharply opposed-china and india-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and industrial countries, capitalist and communist.
ANSWER
As a result of independence movement, the United Nations, was gradually transformed into a third world forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and Sri Lanka discussed peace, role of the Third World, economic development, and decolonization process. They tried to chart out a diplomatic course as neutrals or ‗non-aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based on the principles of political self-determination, mutual respect for sovereignty, non-aggression, non-interference in internal affairs, and equality. Conference paved way for the emergence of third world free from evils of capitalism and communism.
Thus, the concept of the ‗Third World‘ was born. Communist China was one of the countries participating as the Third World Country rather than the Russian Soviet orbit. The 1955 Bandung Conference was the first attempt at the creation and establishment of a third force in global politics. The term Third World was adopted to refer to a self-defining group of non-aligned states. The Bandung Conference played an important role in mobilizing the counter-hegemonic forces to be known as the Third World. There were other priority areas as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via the United Nation .The conference also emphasis on the issues of increased cultural and technical cooperation between African and Asian governments along with the establishment for an economic development fund .It also raised its voice for the required support for human rights and the self-determinations of peoples and nations by the world community and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind of perspective the international politics marked the emergence of a non-aligned bloc from the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the ―Bandung spirit is not ‗detachment‘ from the powerful Western countries, but non-aligned self-helped ‗organization against‘ the powerful countries
2) Traditionally, Developing countries are defined according to their gross national income (GNI) per capita per year. However, the united nations, world bank and other bretton woods institutions have developed many other criteria and indicators for measuring development and under development.
ANSWER
The World Bank promotes long-term economic development and poverty reduction by providing technical and financial support to help countries implement reforms or projects, such as building schools, providing water and electricity, fighting disease, and protecting the environment. World Bank assistance is generally long-term and is funded by member country contributions and by issuing bonds. World Bank staff are often specialists on specific issues, such as climate, or sectors, such as education. The IMF promotes global macroeconomic and financial stability and provides policy advice and capacity development support to help countries build and maintain strong economies. The IMF provides short- and medium-term loans to help countries that are experiencing balance of payments problems and difficulty meeting international payment obligations. IMF loans are funded mainly by quota contributions from its members. IMF staff are primarily economists with wide experience in macroeconomic and financial policies. During the Annual Meetings of the Boards of Governors of the IMF and the World Bank, Governors present their countries views on current issues in international economics and finance and decide how to respond to them. A group of IMF and World Bank Governors also sit on the Development Committee that advises the two institutions on promoting economic development in low-income countries. The Managing Director of the IMF and the President of the World Bank meet regularly to consult on major issues. They issue joint statements, occasionally write joint articles, and may visit regions and countries together. The First Deputy Managing Director of the IMF and the World Bank Managing Director of Operations also hold regular meetings to discuss country and policy issues. IMF and Bank staffs collaborate closely on country assistance and policy issues that are relevant for both institutions. IMF assessments of a country’s general economic situation and policies inform the World Bank’s assessments of potential development projects or reforms. Similarly, World Bank advice on structural and sectoral reforms informs IMF policy advice. The staffs of the two institutions also cooperate in specifying the policy components in their respective lending programs.
3) Clearly discuss and analysis the common characteristic of developing nations.
ANSWER
I) Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
II) Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
III) Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
IV) The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
V) Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
VI) Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
VII) Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
VIII) Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
IX) Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
X) High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore.
4) it has been argued that poverty has the face of a woman. As a budding economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
ANSWER
YES
Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship, say MEPs in a non binding resolution adopted on Tuesday. Two other resolutions look at measures to combat gender stereotyping in the EU and to protect women’s rights in North Africa.
“Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment.
Parliament points out that cuts in education, childcare and care services have pushed women to work shorter hours or part-time, thereby reducing not only their income but their pensions as well. Invest in women MEPs say that to restore growth and to reverse the effects of the crisis, member states must invest in lifelong training, re-skilling policies, teleworking and new jobs, promote female entrepreneurship and develop child-care facilities. They must also include women in decision-making and promote gender balance on company boards.
The resolution on the impact of the crisis on gender equality and women’s rights was passed by 495 votes to 96, with 69 abstentions. Fighting gender stereotypes Gender stereotypes also contribute to the feminisation of poverty, say MEPs. They persist in the labour market in sectors such as engineering and childcare, leading to occupational segregation and the gender pay gap. The lower pay increase the risk for women to fall into poverty, particularly for older women, also due to low pensions.
The EP calls on the Commission and the member states to use EU programmes, such as the European Social Fund, to get more women into professions where they are under-represented and to guarantee equal pay for equal work.
“This is a strong and unequivocal signal of solidarity and support to women who are fighting in North Africa for freedom, democracy and universal human rights of men and women against all forms of discrimination and violence. As they explained, for them it is the same battle. We need to support and accompany this difficult transition and ensure their rights are recognised and protected in the constitution and in the legislation.
Name: OFFOR UGOCHUKWU IKENNA
Reg no: 2019/245050
Email: ugosagacious@gmail.com
1).Low level of capital formation: The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
Low per Capita income: The low levels of per capita income and poverty in developing countries is due to low levels of productivity in various fields of production. The low levels of productivity in the developing economies has been caused by dominance of low-productivity agriculture and informal sectors in their economies, low levels of capital formation – both physical and human (education, health), lack of technological progress, rapid population growth which are in fact the very characteristics of the underdeveloped nature of the developing economies.
Overdependence on Agriculture: A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
2). Yes, Poverty has a woman’s face.Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
NAME: OMEJE PHILOMENA OLUCHUKWU
DEPT: SOCIAL SCIENCE EDUCATION ( ECONOMICS)
REG NO: 2019/243750
ASSIGNMENT ON ECO 361
Answers
1. During the Cold War, unaligned countries of the Third World were seen as potential allies by both the First and Second World. Therefore, the United States and the Soviet Union went to great lengths to establish connections in these countries by offering economic and military support to gain strategically located alliances (e.g., the United States in Vietnam or the Soviet Union in Cuba).
By the end of the Cold War, many Third World countries had adopted capitalist or communist economic models and continued to receive support from the side they had chosen.
Throughout the Cold War and beyond, the countries of the Third World have been the priority recipients of Western foreign aid and the focus of economic development through mainstream theories such as modernization theory and dependency theory. By the end of the 1960s, the idea of the Third World came to represent countries in Africa, Asia, and Latin America that were considered underdeveloped by the West based on a variety of characteristics (low economic development, low life expectancy, high rates of poverty and disease, etc.).
These countries became the targets for aid and support from governments, NGOs and individuals from wealthier nations. One popular model, known as Rostow’s stages of growth, argued that development took place in 5 stages (Traditional Society; Pre- conditions for Take- off; Take-off; Drive to Maturity; Age of High Mass Consumption).
W. W. Rostow argued that Take-off was the critical stage that the Third World was missing or struggling with. Thus, foreign aid was needed to help kick star industrialization and economic growth in these countries.
2. An increasing GDP is often seen as a measure of welfare and economic success. However, it fails to account for the multi-dimensional nature of development or the inherent short-comings of capitalism, which tends to concentrate income and, thus, power make a case for using alternate measures of development such as the Social Progress Index.
“Development can be seen as a process of expanding the real freedoms that people enjoy.” Amartya Sen Economic growth assesses the expansion of a country’s economy. Today, it is most popularly measured by policymaker and academics alike by increasing gross domestic product, or GDP.
This indicator estimates the value added in a country which is the total value of all goods and services produced in a country minus the value of the goods and services needed to produce them. It is common to divide this indicator by a country’s population to better gauge how productive and developed an economy is – the GDP per capita.
Today, the predominance of GDP as a measure of economic growth is partly because it is easier to quantify the production of goods and services than a multi-dimensional index can measure other welfare achievements. Precisely because of this, GDP is not, on its own, an adequate gauge of a country’s development.
Development is a multi-dimensional concept, which includes not only an economic dimension, but also involves social, environmental, and emotional dimensions.Towards inclusive and sustainable growth One of the limitations of GDP is that it only addresses average income, failing to reflect how most people actually live or who benefits from economic growth.
Thomas Piketty (2014) presents a two-fold theory on how the wealth of a society becomes more concentrated and why this is counterproductive to development.
Alternate measures:
The Human Development Index
One expanded indicator, which attempts to measure the multi-dimensional aspect of development, is the Human Development Index(HDI), conceived by the United Nations Development Programme (UNDP). which is better suited to track the progress, not only of rich, but also of poor nations.
It incorporates the traditional approach to measuring economic growth, as well as education and health, which are crucial variables in determining how developed a society is. This is calculated through a geometric mean of
The Human Capital Index
The World Bank launched the Human Capital Index (HCI). This newly created index ranks 157 countries’ performances on a set of four health and education indicators according to an estimate of the economic productivity lost due to poor social outcomes.
The main benefit is that it focuses on outcomes, rather on inputs,. For example, educational quality as measured by actual adjusted learning is weighted more appropriately against years of schooling. The main development (health, education, social security, etc.), which the World Bank argues have been forgotten at the expense of infrastructure and institutional development.
The Social Progress Index:
There is arguably a better way of measuring societal development: the SPI. The SPI was developed by the non-profit, Social Progress Imperative. It is one of the outcomes of the Commission on the Measurement of Economic Performance and Social Progress. The main objective of the Commission was to investigate how the wealth and social development of countries could be measured beyond the uni-dimensional GDP measure.
It is still a relatively new indicator, with data only for four years, however it covers a wide span of more than 130 countries.The SPI is a refinement of the HDI because it expands the number of composite indicators from only four to fifty-four in a wide array of areas, including basic human needs, foundations of well-being, and opportunities to progress.
Therefore, this index is capable of synthesising the most relevant aspects that determine development. For example, access to water and sanitation, educational and health outcomes, public criminality, housing, access to information, and communication.
3. .A developing economy also called a less developed economy or underdeveloped country is a nation with an underdeveloped industrial base, and a low Human Development Index (HDI) relative to other countries. According to the UN, a developing country is a country with a relatively low standard of living, undeveloped industrial base, and moderate to low Human Development Index (HDI). This index is a comparative measure of poverty, literacy, education, life expectancy, and other factors for countries worldwide. Developing countries have the following characteristics:
i.Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They hardly boost of three square meal a day. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
ii.The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
iii. Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
iv. Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lowerproductivity in developing nations.
V. High Consumption and Low Saving: In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
Vi. Income per year which tends to be low. Annual income in developing countries is not as high as in developed countries due to the high unemployment rate.
Vii.Security Not Guaranteed. Unlike in developed countries, security in developing countries is still very minimal and inappropriate. Therefore, crime rates in developed countries are still relatively high.
Viii. Minimal Health Facilities. Health facilities in developing countries are also relatively minimal. The lack of proper health facilities makes the population in developing countries more vulnerable to disease. Therefore, the mortality rate in developing countries is also greater than the mortality rate in developed countries, which then results in a low life expectancy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion.. These countries are affected more severely by the economic crisis .
4. Yes, it is true that poverty has the face of a woman.Globally, poverty remains a challenge: the World Bank estimates that 1.29 billion people live in absolute poverty; the sad fact is that about 70 per cent of them are women., it isn’t even possible to gauge the correct picture. Poverty is difficult to quantify: the methodology used by the government has been challenged by the World Bank and the UNDP. It is no surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.
It is no surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.
The current political situation prevailing in the country presents a mixed picture for women’s progress and development. On the one hand, there are several forward- looking laws and amendments, widespread provision of safety nets like the Benazir Income Support Programme and increased school enrolment for girls. On the other hand is the snail’s pace at which the bureaucracy moves to implement those laws. Then again, there’s society’s stubbornly ‘eyes shut’ attitude to women’s rights and progress, the lack of recognition that women’s progress requires an acceptance of their constitutionally guaranteed equal status as citizens of this country.
If women are to progress and participate effectively in the economy, they must receive equal education, equal training, in rural and urban sectors and equal dignity and income. A country cannot achieve progress on the efforts of less than half its population.
NAME: AMATU JENNIFER CHIKAODI
REG NO:2019/249035
DEPARTMENT: ECONOMICS
Q1. As a result of decolonization, the UN at first numerically dominated by Europe communities and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, through the essentially academic debate. Despite that debate, the unity of the third world remain hypotheticallybpressed mainly from the platforms of international conference.
Q2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.
The criteria by UN takes into consideration of development indicators like Human development Index(HDI),and Human poverty Index (HPI). According to UN,Countries with high HDI are developed while countries with low HDI are less developed. Also,countries with low HPI are developed,while countries with high HPI are less developed.
Q3. Low level of living: this simply means that a segment of the population of a country does not have adequate access to much wealth and basic services and amenities necessary for living, lack of food, shelter, clothing etc.
Low levels of productivity: this means that resources are not being used to their highest and fulest capacity, that is they are not utilizing their skills and competences to their maximum potential which in turn increases a company’s resources costs.
High rate of population growth: this occurs when the population of an economy or country exceeds the available resources to sustain and neet the basic need of the citizens in that economy.
Traditional and rural social structure: traditional structures can hinder development due to lack of urbanization and acceptance of new innovations and ideas for the improvement of that particular region or economy.
Wide spread poverty: this occurs when most regions in an economy are extremely poor occuring in most individuals. This state of poverty reduces the level of living making life extremely hard and un sustainable for individuals in those regions of the economy.
Substancial dependence on agriculture: this implies to over dependence on agriculture mainly for consumption and not for commercial purposes. Even exporting of only agricultural products can limit a country’s development.
Feeding the government: when the government extorts its citizens and uses the money for their own personal gain it leads to under development. Not meeting the need of the people by providing good roads, jobs, Infrastructure etc, leading to low level of living in the lives of the individuals in the economy.
Increase in unemployment: this occurs when the number of youths in the economy are without jobs, this may lead to increase in crime thus hinders Development in that economy.
UGWU KAOSISOCHUKWU IMMACULETA
2019/241226
ECONOMICS DEPARTMENT
1) In 1952, the term “third world” was originally used as a political designation to describe those states not part of the capitalist and economically developed state led by the U.S. (first world) or the communist states led by the Soviet Union (second world), this was during the cold war (1945-1991). In 1955, the Bandung conference led to the emergence of the third world countries politically. lt was the first Afro-Asian Conference held on 17 April, 1955 by third world countries in Indonesia to strengthen their position. At the end of World War II, the world was divided into two blocs, one led by America (also known as the capitalists) and the other by Soviet Union (also known as the socialist or totalitarian bloc). Both Asia and Africa saw the need to preserve their political independence and so did not like the idea of joining any of these blocs, this unity was further solidified with the bandung conference.
In February 1947, the British decided to leave their colony, India, but not without violent clashes between Hindu and muslim communities and on 15th August 1947, the clash led to the separation of two subcontinent, Hindustan and Pakistan. In China, from 1946 till 1949, civil war broke out between the nationalists and communists after which China emerged as the world most populous communist state, the people’s Republic of China. The message these two countries carried was resounding to the other colonies since under oppression and for them it was like a source of motivation that completely eradicated their fear and hopelessness that they would never be free and this subsequently brought about their call for independence. Gradually with the independence of the third World Countries, the United Nations was transformed into something like a third world forum, though these countries were not united and had varying political affinity.
2.The World bank and other Bretton woods institutions recently use two methods to compare and classify the economies of countries into low, lower middle, upper middle and high-income groups. This grouping help to serve as an indicator for development and underdevelopment across nations. The two methods postulated by these institutions are;
a. Atlas method: This is a method used by the world bank since 1993 to estimate the size of other countries economies in terms GNI in U.S. dollars, using various factors which affects the changes in the development in each country. To use this method, a country’s GNI using their local currency is first converted into dollars using the Atlas conversion factor, which uses a 3-year average of exchange rates to smoothen the effects of transitory exchange rate flunctuations, adjusted for the difference between the rate of inflation in the home country and that in a number of developed countries, the resulting GNI in dollars will then be divided by the home country’s mid year population to get the GNI per capita.
b. Another method is changing Income classification threshold by using special drawing rights deflator. This Special Drawing Right (SDR) is an interest bearing international reserve asset created by the IMF in 1969 to supplement other reserve assets of member countries. Therefore, SDR is not a currency rather it is based on a basket of International currencies that are adjusted annually for inflation so as to supplement the member country’s claim on the freely usable currencies, held only by IMF member countries, thereby providing liquidity for countries.
3a. Low levels of living : This is Synonymous to having a low per capita real income which means that such household is living below the standard and thus have low savings and investments as a result.
b) Low levels of productivity: The productivity of industries, and Individuals in developing countries are usually low due to poor management, workplace stress owing to more work less pay, poor organizational structure, low technological advancement and many others all these serve to reduce motivation and subsequently lower productivity.
c. High rates of population growth and dependency burdens: Due to lack of family planning options cases of rising population can be seen in developing countries. Another factor responsible is high fertility leading to large families which were viewed to be assets whereas they were burdens.
d. High and rising levels of unemployment and underemployment: There are various causes of this problem, majority being low industrial development, lack of workforce planning as well as lack of proper utilization of existing natural resources e.t.c. and till all or some of these problems are solved the country will have to continue developing.
e. Traditional, rural social structures: Most developing countries are rural based in their structure, relying mostly on traditional agricultural production, with strong dependence on their natural resources. Even with production ongoing, areas like these are usually not developed unlike the urban areas even the equipments and tools used are still archaic.
f. Widespread poverty: There is evidence of poverty in such countries which can be seen in the low GDP per capita as well as the poor management of the available resources which causes the inability to fully utilize those resources.
g. Prevalence of Imperfect markets: Due to lack of resources, the market for goods and services can have the presence of unhealthy monopoly, oligopoly, duopoly e.t.c all of who try to collude so as to control the little available resources leading to inefficient allocation of resources.
h. Substantial dependence on agricultural production and primary product exports: Developing nations mostly concentrate their exports on a small number of exports that lacks the ability to stabilise or even boost the economy but they still remain dependent on it, those exports are usually agricultural products that even lack growth or expansion in the industry for mass production.
i. Dependence and Vulnerability: Developing nations depend highly on borrowed finances that they become more unstable in the international markets. Even internally there are usually dominant cases of insecurities which affect the physical and mental health of the people thus greatly diminishing their productivity.
j. Distorted and highly dependent economies devoted to producing primary products for the developed world and to provide markets for their finished goods: Developing countries have the notion that the best market for their primary products are the developed nations and so become highly dependent on this market to the extent that any small flunctuations in these developed countries bring a large distortion in their economy. Also, they are very much eager to promote the developed nations finished goods in their markets disregarding their own products as lacking in quality or not foreign which further destroys local and infant industries along with their goods.
4. As a budding economist, I strongly disagree with the notion that poverty has the face of a woman, Although this statement was due to the assumption that a woman contribute to poverty due to her ability in child bearing which raises the population levels and subsequently when the resources are unable to satisfy the rising population, poverty sets in. However, one should not be so ignorant as to not see the benefits child bearing brings if controlled properly. In this regard, imagine a country low on population, it would inardently affect their work force which will bring a decline in economic growth due to the resources not being efficiently utilized so it is a matter of over consumption and under consumption.
Additionally, In the aspect of economic development women contribute greatly to it by ensuring long term stability and progress as caretakers and teachers at the most basic unit which is the family as the saying goes “Charity begins at home”, this means all values are gotten at home and this values or morals serve as a stable foundation for a country as well as reduce the crime rate. Recently, the population of women have grown larger compared that of men so it can be seen that their contribution to the labour market cannot be overemphasized.
There are also notable women down great things economically, socially, politically, and even intellectually. Dating back to when Mary Slessor stopped the killing of twins, to Queen Amina of Zarra, the Warrior queen who waged military campaigns to expand her territory, down to Magaret Ekpo, who was a renowned activist and also stopped the killing at Enugu coal mine, she also established an International airport in Calabar in 2001, further down we also have Sarah Jibril, the very first female Nigerian presidential candidate in 1972, however she lost to Olusegun Obasanjo. Even till the present Ngozi Okonjo Iweala, who is the first female African director-general of the World Trade Organization(WTO) in 2021 , notwithstanding, the list goes on which only add to prove the fact that women are industrious, flowing with ability and can do more than their opposing gender if the gap of gender inequality is eradicated, so the question of whose face poverty has is definitely not one a woman should answer to. This prompts me to ask the question, “are there not women in all the developed nations of the world?” and “are those nations not thriving?”, so when is it the men’s turn to put the blame on women and by so doing cover up their failures or issues. Poverty is an issue created by many factors and one gender is not enough for such a burden so no, poverty does not have the face of a woman.
1.
The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.
2.
Some examples of social indicators of development include:
Education levels – for example how many years of schooling children have.
Health – often measured by life expectancy.
Employment Rates
Gender equality
Peacefulness
Democracy
Corruption
Media freedoms
Civil Rights
Crime/ social unrest
Suicide Rates
Composite indicators of all of the above
3.
Even though developing nations have very different backgrounds in terms of resources, history, demography, religion and politics, they still share a few common characteristics.
i. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
ii. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
iii. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
iv. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
v.Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
4.
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities . are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality
1.)The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.
2.
Some examples of social indicators of development include:
Education levels – for example how many years of schooling children have.
Health – often measured by life expectancy.
Employment Rates
Gender equality
Peacefulness
Democracy
Corruption
Media freedoms
Civil Rights
Crime/ social unrest
Suicide Rates
Composite indicators of all of the above
3.
Even though developing nations have very different backgrounds in terms of resources, history, demography, religion and politics, they still share a few common characteristics.
i. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
ii. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
iii. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
iv. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
v.Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
4.
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities . are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality
Name: Nwadike Vivian Mmesoma
Reg no: 2019/244657
Dept: Economics
Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
Two nation whose social and economic system were sharply opposed- china and India – played a major role in promoting that conference and in changing the relation between the third world and industrial countries, capitalist and communist.
As a result of decolonization the united nations at first numerals dominated by European countries and countries of European origins were gradually transformed into a third world forum.
With increasing urgency, the problem of underdevelopment, then became the focus of a permanent, although essentially academic debate. Despite that debate, the unity of the third world remains hypothetical expressed mainly from the platforms of the International Conference.
Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Poverty and Inequality: Indicators that measure the incidence and depth of poverty according to national and international definitions, as well the economic inequalities in income and wealth that exist both within and across countries and regions.
People: Indicators on a range of topics that together build a portrait of societal progress across the world. They cover education, health, nutrition, mortality, and, jobs and unemployment, social protection, demographics, migration, and gender.
Environment: Indicators on the use of natural resources, such as water and energy, and various measures of environmental degradation, including pollution, deforestation, and loss of habitat. Together these indicators help assess the extent of climate change and the human impact on the planet.
Economy: Indicators for national accounts, including GDP, GNI, value added, and capital formation, as well as balance of payments, finance, consumption, and adjusted net savings among others, help us to measure the structure and growth of the world’s economies.
States and Markets: Indicators on private investment, the public sector, financial systems, communication and transport infrastructure, science and technology, provide a picture of different business climates around the world, the functioning of governments, and the spread of new technologies.
Global Links: Indicators on the size and direction of economic flows and linkages, such as trade, remittances, equity, and debt, as well as tourism and migration, provide an overview of the processes, structures, and partnerships that allow economies to flourish.
Clearly discuss and analyse the Common Characteristics of Developing Nations.
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
“Poverty has the face of a woman”.
Back in the days where Women were married off, regardless of age, kept in a man’s house for procreation only, her job as a woman is clean, wash and cook. Women were housewvies and are not allowed to work.
Now, the old days are gone and a New era emerged, with the help of colonization which broke the shackles and opened eyes of the world to New things and ideas which had triggered the sudden urge to embrace civilisation.
Women are no longer seen as baby making factories, but are seen as species with ambitions and aspirations.
Women attain all levels of education and obtain certificates which gets them employed to work for notch companies, some or a great number of women head large companies, own multiple businesses and acquire Assests.
Women go out of their homes and come back to the family just like men.
In a contemporary society, women are the meanic and wealth controllers.
In all these, they still birth children and take care of the home. These shows how much the world has evolved.
So this statement ” Poverty has the face of woman” is practically obsolete.
1, In socialist economies, governments are charged with redistributing wealth and narrowing the gap between the poor and the rich. While no modern-day countries are considered to have a “pure” socialist system, Cuba, China, and North Korea have strong elements of socialist market economies.
2, Gross National Income (GNI) is the total amount of money earned by a nation’s people and businesses. It is used to measure and track a nation’s wealth from year to year. The number includes the nation’s gross domestic product (GDP) plus the income it receives from overseas sources.
The more widely known term GDP is an estimate of the total value of all goods and services produced within a nation for a set period, usually a year. GNI is an alternative to gross domestic product (GDP) as a means of measuring and tracking a nation’s wealth and is considered a more accurate indicator for some nations. The U.S. Bureau of Economic Affairs (BEA) tracks the GDP to measure the health of the U.S. economy from year to year. The two numbers are not significantly different. Finally, there’s gross national product (GNP), which is a broad measure of all economic activity. KEY TAKEAWAYS
Gross national income (GNI) is an alternative to gross domestic product (GDP) as a measure of wealth. It calculates income instead of output.
GNI can be calculated by adding income from foreign sources to gross domestic product.
Nations that have substantial foreign direct investment, foreign corporate presence, or foreign aid will show a significant difference between GNI and GDP.
3, Some developing countries have weak institutional structure such as lack of property rights, absence of the rule of law and political instability which affect incentives to invest. Besides, there are lot of differences with regard to levels of education, health, food production and availability of natural resources. However, despite this great diversity there are many common features of the developing economies. It is because of common characteristics that their developmental problems are studied within a common analytical framework of development economics.
Characteristic # 1. Low Per Capita Income:
The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan. According to these estimates for the year 1995, per capita income was $340 in India, $ 620 in China, $240 in Bangladesh, $ 700 in Sri Lanka. As against these, for the year 1995 per capita income was $ 26,980 in USA, $ 23,750 in Sweden, $ 39,640 in Japan and 40,630 in Switzerland.
It may however be noted that the extent of poverty prevailing in the developing countries is not fully reflected in the per capita income which is only an average income and also includes the incomes of the rich also. Large inequalities in income distribution prevailing in these economies have made the lives of the people more miserable. A large bulk of population of these countries lives below the poverty line.
For example, the recent estimates reveal that about 28 per cent of India’s population (i.e. about 260 million people) lives below the poverty line, that is, they are unable to get even sufficient calories of food needed for minimum subsistence, not to speak of minimum clothing and housing facilities. The situation in other developing countries is no better.
Characteristic # 2. Excessive Dependence on Agriculture:
A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
In the present-day developed countries, the modern industrial growth brought about structural transformation with the proportion of working population engaged in agriculture falling drastically and that employed in the modern industrial and services sectors rising enormously. This occurred due to the rapid growth of the modern sector on the one hand and tremendous rise in productivity in agriculture on the other.
Characteristic # 3. Low Level of Capital Formation:
The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
Since then there has been substantial increase in the rate of saving and investment in the developing countries. However, the quantity of capital per head is still very low in them and therefore productivity remains low. For example, in India rate of investment has now (2012-13) risen to about 35 per cent but it still remains a poor country with low level of productivity. This is because as a result of rapid population growth, capital per head is still very low.
4, Chapter 1 discusses the link between gender and poverty. Women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.
The chapter positions poverty as the root cause of gender inequality and discusses social entrepreneurship as a path toward women’s economic and social empowerment. The author introduces two approaches to addressing poverty among women: microcredit and small business cooperatives. The microfinance approach is exemplified by the Kashf Microfinance bank, founded by Roshaneh Zafar in Pakistan in 1996. By 2009, Kashf included 14,192 active borrowers, deposits of 3.8 million, and 42,073 depositors. COMUCAP, an organization based in the region of La Paz, Honduras, is representative of the cooperative approach. The program trained women to grow and sell coffee beans as a means to gain economic independence and escape domestic violence. Both case studies emphasize that helping women increase their economic agency gives them footing to combat poverty and achieve independence.
Yes I agree that poverty has the face of a woman because women are major causes and reasons why most poverty cases occur today
ILOH CHIOMA SANDRA
ECONOMICS
2019/244155
1.
As a result of decolonization the UN at first numerically Dominated by European countries and countries of European origin was gradually transformed into something of a third word forum.
With increasing urgency, the problem of underdevelopment then became the focus of a permanent, although essentially academic debate.
Despite the debate, the utility of the third world remain hypothetical expressed mainly from the platforms of international conference.
2.
World Bank describe the indices for measuring developed and under developmed countries as countries with GNI of $11905 and less are defined as developing (specified by the World Bank 2005) and $12275 (World Bank 2019).
The united nations indices for measuring developed and underdeveloped countries are:
HEALTH.
The health component is assessed by life expectancy at birth. Along and healthy life, as measured by life expectancy at birth.
KNOWLEDGE
Education is measured by the average number of years of school completed by adults as well as the number of years of school expected to be completed by children. knowledge, as measured by mean years of schooling and expected years of schooling.
STANADARD OF LIVING
Standard of living is assessed by the GNI per capita, which provides a rough measure of the annual national income per person in a country
a decent standard of living, as measured by GNI per capita in PPP terms in US$.
3.
*Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
*Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation.
*Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
*Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
*Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
*Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
4. Yes, poverty has the face of a woman.
To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
1.)The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.
2.)
Some examples of social indicators of development include:
Education levels – for example how many years of schooling children have.
Health – often measured by life expectancy.
Employment Rates
Gender equality
Peacefulness
Democracy
Corruption
Media freedoms
Civil Rights
Crime/ social unrest
Suicide Rates
Composite indicators of all of the above
3.
Even though developing nations have very different backgrounds in terms of resources, history, demography, religion and politics, they still share a few common characteristics.
i. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
ii. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
iii. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
iv. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
v.Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
4.
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities . are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality
NAME: SAMUEL FAVOUR
REG NO: 2019/246079
DEPARTMENT: EDUCATION/ECONOMICS
1: Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
The economies of underdeveloped countries have been geared to the needs of industrialized countries, they often comprise only a few modern economic activities, such as mining or the cultivation of plantation crops. Control over these activities has often remained in the hands of large foreign firms. The prices of third world products are usually determined by large buyers in the economically dominant countries of the West.
Third World, the technologically less advanced, or developing, nations of China and india generally characterized as poor, having economies distorted by their dependence on the export of primary products to the developed countries in return for finished products. These nations also tend to have high rates of illiteracy, disease, and population growth and unstable governments.
2:Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
The World Bank categorizes countries based on various characteristics, such as geography, lending eligibility, fragility, and average level of income. When it comes to income , the World Bank divides the world’s economies into four income groups: high, upper-middle, lower-middle, and low.many countries’ incomes have transcended the income group thresholds over time. Because most parts of the world have experienced considerable economic growth in recent decades, and the classification thresholds are held stable in real terms, there are now fewer low-income countries and more countries have gained middle or high-income status.
3:Clearly discuss and analyse the Common Characteristics of Developing Nations.
1:. General poverty:
There is widespread poverty in developing countries. The general living standard of people is very low due to their low income. That is why; they are not able to fulfill their basic necessities like food, shelter, cloth, etc. Majority of people are both in poverty and die in poverty. They live below the poverty line.
2: Rapid population growth:
There is rapid population growth in developing countries as compared to developed countries. The average annual growth rate of population in developing countries is about 1.5 % to 3 % whereas, in developing countries, it is about 0.7 % or about 1 %.
3: High dependence on agriculture:
Agriculture is the main occupation in developing countries. Majority of the population from 70 % to 80 % are engaged in developing countries whereas in developed countries 15 % or less depends on agriculture. The high dependency on agriculture is due to the low development of the non-agricultural sector.
4:Underutilization of natural resources:
Most developing countries are rich in natural resources. The natural resources in developing countries are either utilized or underutilized due to the various difficulties such as shortage of capital, the small size of the market, primitive technology. Nepal is rich in water resource but it is not being properly utilized due to the lack of capital.
5:Existence of unemployment:
The rapid population growth has created the problem of unemployment. Due to the lack of developing agricultural sectors like trade & industries and other services. Most of the increased population has to depend on agriculture provided employment for a few day and other days, they have to remain unemployed.
4: It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Yes
Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition. The risks of increasing poverty grow in parallel with the number of women-headed households. Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
NAME: EZEH PATRICK EZENWA
DEPT: ECONOMICS MAJOR
REG NO: 2019/244053
EMAIL: Saintpatrickforchrist@gmail.com
Q4. I Concur to the statement that ‘poverty has the face of a woman’. This is because back in the society,it is Well known that men are born mainly to provide for their family and protect them, while the women are meant to support the husband. In the course of providing for the family The father or male Individual does it better since it is more like a natural responsibility of all men. The woman in the other hand might find it hard in performing this function especially when she is acting as single mother. This is evident in the society. Most women after losing there husband finds life hard while being the bread winner of the family. They get affected mentally, physically and even emotionally,in some cases they end up losing their life due to the pressure and pain they go through.
Likewise, the society in most cases is unfair and harsh to the women. They are not given access to many Social activities such as Education, Leadership role etc that will bring out there inner ability. This prevents them from being able to function adequately in the course of fending for themselves. They are been made to depend solely on men which in most cases are there husband, for there survival.
This is why most people argue that poverty bears a Woman’s face.
ChidozieChinaemeremTrust. 2019/241722. Education Economics
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
Because of the decolonization, the United Natioms at first numerically dominated by European countries and countries of European Origin was gradually transformed into something of a third World forum. With increasing urgency, the problem of underdevelopment then became the focus if a permanent, although essentially academic debate. Despite that debate, the unity of the third world remains hypothetical expressed mainly from the platforms of international Conferences.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Developing countries are defined according to their Gross National Income ( GNI) per capital per year. Countries with a GNI of US $11,905 and less are defined as developing ( specified by the World Bank, 2015) and $12,275 ( World Bank, 2019)
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
I. Low per capital real income
ii. High Poverty Rate: There is a high poverty rate in developing countries. Poverty is so high that it has been said that poverty has the face of a woman.
iii. High rate of unemployment and underemployment: This is no news that a developing country does not have enough work for its citizens.
iv. Rapid population growth: Despite the hardship in the country, their is high rate of Nuptiality and women keep giving birth which least to a rapid poplultaion growth and this is bad because it will lead to a high dependency rate On the incapable government
v. Excessive dependence on Agriculture: Subsisitence agriculture is mostly what people engage in for survival and the agricultural products available are not enough for sale.
Vi. Technological Backwardness: Developjng Countries lack technology. They do not try to improve their technological know how
Vii. Lack of Infrastructures: There are no infrastructures and social amenities. Even when they are present, they are not properly taken care of or maintained
Viii. Poor Working Conditions: Working conditions are not favourable at all. There are no safety measures for workers and any bad thing can happen during work which the management does not try to prevent
Ix. Dependency and Vulnerability: Here, most house wives depends on their husbands to provide and not only that, the women are vulnerable to molestations and sexual abuse
X. Low income: In developing countries, there is low income for the labourers. People toil from morning till night and gets low income or wages for their hardwork
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Yes, Poverty has a woman’s face. This is so because women are the greatest sufferers of poverty. If there are 50 poor men in the world, women are up to 127 . They are the greatest sufferers of Poverty as they care for their children, Work to provide for the family, Do the chores and still have to satisfy their husbands. They suffer more more than men. And in as much as they are the ones suffering more, they are still victims of molestations.Aso imagine where a family is poor, ofcourse the husband will be struggling to make ends meet but the weight of the family falls heavily on the woman. To think that they will also have to keep on reproducing with many children that they can fully take care of. Really the prolounders of that statement were not wrong when they said that Poverty has the face of a woman.
NAME: UDEZE KELECHI BLESSING
REG NO: 2019/241719
EMAIL: blessingkelechi74@yahoo.com
DEPT: ECONOMICS EDUCATION
COURSE NO: ECO 361
ASSIGNMENT ON DEVELOPMENT ECONOMICS
ANSWER
Question 1
The government subsequently established a number of areas for foreign investment, including the special economic zones, open coastal cities, the economic and technology development zones, the delta open zones, the peninsula open zones, the open border citiees, and the high-tech industry development zones. The establishment of these zones provided the trigger for massive inflows of foreign investment, primarily from companies in Hong Kong and Taiwan. At the same time, China promoted its socialist market economy concept. The changes brought an entrepreneurial boom that resulted in the emergence of huge numbers of entrepreneurs and venture businesses within China. Inflows of foreign capital, technology, and management knowhow enabled China to turn its vast labor resources and space to rapid economic growth. The shift to an open-door economic policy ushered in a period of high economic growth in the first half of the 1980s. The economy stagnated around the time of the Tiananmen Square Incident in 1989, but in the first half of the 1990s, China was again boasting high growth rates. Rapid economic growth was accompanied by a rise in per capita GDP. In 1998, per capita income, though still only about US$770, was 14 times higher than in 1980. Therefore, it seems reasonable to conclude that Deng Xiaoping’s first goal, which was to improve the economic status of the people, has been accomplished.
Question 2
Alternate measures
i. The Human Development Index
One expanded indicator, which attempts to measure the multi-dimensional aspect of development, is the Human Development Index (HDI), conceived by the United Nations Development Programme (UNDP). Mahbud ul Haq and Amartya Sen developed the index, which is better suited to track the progress, not only of rich, but also of poor nations.
The first report on HDI was conducted in 1990. It incorporates the traditional approach to measuring economic growth, as well as education and health, which are crucial variables in determining how developed a society is. This is calculated through a geometric mean of GDP per capita, life expectancy at birth, and the average between mean years of schooling and expected years of schooling.
ii. The Human Capital Index
On 11th October 2018, The World Bank launched the Human Capital Index (HCI). This newly created index ranks 157 countries’ performances on a set of four health and Commission on the Measurement of Economic Performance and Social Progress education indicators according to an estimate of the economic productivity lost due to poor social outcomes. The main benefit is that it focuses on outcomes, rather on inputs, analogously to the Social Progress Index (SPI) and unlike GDP. For example, educational quality as measured by actual adjusted learning is weighted more appropriately against years of schooling. The main criticism to the HCI is that it might end up overvaluing the material benefits of education and health, thus commoditising people, instead of their societal contributions and their inherent aspect of being basic human rights. Notwithstanding, it is expected that mainly developing countries will make use of the HCI in order to quantify the results of social sector investments, thus increasing spending on human development (health, education, social security, etc.), which the World Bank argues have been forgotten at the expense of infrastructure and institutional development.
iii The Social Progress index
There is arguably a better way of measuring societal development: the SPI. The SPI was developed by the non-profit, Social Progress Imperative. It is one of the outcomes of the – or simply, Stiglitz-Sen-Fitoussi, after its leaders. The main objective of the Commission was to investigate how the wealth and social development of countries could be measured beyond the uni-dimensional GDP measure. It is still a relatively new indicator, with data only for four years, however it covers a wide span of more than 130 countries.
The SPI is a refinement of the HDI because it expands the number of composite indicators from only four to fifty-four in a wide array of areas, including basic human needs, foundations of well-being, and opportunities to progress. Therefore, this index is capable of synthesising the most relevant aspects that determine development. For example, access to water and sanitation, educational and health outcomes, public criminality, housing, access to information, and communication. Naturally, the main drawback of the SPI is its comparatively large complexity and lack of practicality when used to inform policy making.
Question 3
Major Characteristics of Developing Countries
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy. The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore. In a summary, the major characteristics of developing countries are presented in the following table.
1 Low Per Capita Real Income
2 Mass Poverty
3 Rapid Population Growth
4 The problem of Unemployment and Underemployment
5 Excessive Dependence on Agriculture
6 Technological Backwardness
7 Dualistic Economy
8 Lack of Infrastructures
9 Lower Productivity
10 High Consumption and Low Savin
Question 4
I agree that It has been argued that poverty has the face of a woman because:
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.
Odum precious
2019/241331
Economics
1. The idea of the Third World, which is usually traced to the late 1940s or early 1950s, was increasingly used to try and generate unity and support among an emergent group of nation-states whose governments were reluctant to take sides in the Cold War. These leaders and governments sought to displace the ‘East-West’ conflict with the ‘North-South’ conflict. The rise of Third Worldism in the 1950s and 1960s was closely connected to a range of national liberation projects and specific forms of regionalism in the erstwhile colonies of Asia and Africa, as well as the former mandates and new nation-states of the Middle East, and the ‘older’ nation-states of Latin America. Exponents of Third Worldism in this period linked it to national liberation and various forms of Pan-Asianism, Pan-Arabism, Pan-Africanism and Pan-Americanism. The weakening or demise of the first generation of Third Worldist regimes in the 1960s and 1970s coincided with or was followed by the emergence of a second generation of Third Worldist regimes that articulated a more radical, explicitly socialist, vision. A moderate form of Third Worldism also became significant at the United Nations in the 1970s: it was centred on the call for a New International Economic Order (NIEO). By the 1980s, however, Third Worldism had entered into a period of dramatic decline. With the end of the Cold War, some movements, governments and commentators have sought to reorient and revitalise the idea of a Third World, while others have argued that it has lost its relevance. This introductory article provides a critical overview of the history of Third Worldism, while clarifying both its constraints and its appeal. As a world-historical movement, Third Worldism (in both its first and second generation modalities) emerged out of the activities and ideas of anti-colonial nationalists and their efforts to mesh highly romanticised interpretations of pre-colonial traditions and cultures with the utopianism embodied by Marxism and socialism specifically, and ‘Western’ visions of modernisation and development more generally. Apart from the problems associated with combining these different strands, Third Worldism also went into decline because of the contradictions inherent in the process of decolinisation and in the new international politico-economic order, in the context of the changing character, and eventual end, of the global political economy of the Cold War.
2. Other criteria and indicators for measuring development and underdevelopment are;
*The index of sustainable economic welfare
*Quality of life index
*where to be born index
*Human Development Index
*Human poverty index
* consumer price index etc.
3. Low per capita income-The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Ii. Poverty-Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Iii. Technology backwardness-Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Iv. Lack of infrastructure-Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations. This is very obvious in Nigeria, there is hogh level of infrastructure missing management.
4.yes, I think poverty has a face of a woman because like an old saying goes train a woman and you train a society. In most developing countries we’re poverty is evident, consistent increase in population is one of the feature and this is because most women are not educated and don’t have basic knowledge of family planning , in this process they birth children they can’t train and the cycle continues. This children grow in poverty and also grow up training their kids in poverty and form a non ending cycle only 3% of vhildren that grew up in a poor home beats the cycle and become rich.
(1) These two countries china and India played a major role in promoting the political emergence because with the intervention of government with the operations going on in an economy, it would be easy to separate the developing countries and developed countries because china and india are already developed countries and they wanted a law that will make them to be more powerful than any other countries but with the conference being introduced they were able to achieve that and these two are majorly a capitalist economy in which every of there citizens are given equal chance of contributing to the growth of the economy and they also wanted to differenciate between an economy that there means of production are collectively owned but with the political emergence they will able to differenciate between these sectors.
(2) Other criteria or indicators for measuring developed and under developed countries include employment rate because before an economy can be qualified to be termed developed it must have greater percentage of it’s population employed and less population unemployed because in under developed countries greater percentage of it’s population are unemployed and that affect the growth of the economy and another criteria is education because in most of the advanced and developed countries they always provide free education for it’s citizens from primary level to tertiary level for those people that cannot afford education but in an under developed countries they can’t provide free education for it’s citizens and that will affect the growth of the economy because many of it’s citizens will be illeterate and they won’t be able to contribute to the growth of the economy.
(3i) Low level of living : i.e is not living up with the standard of living.
(3ii) Low level of productivity: Not producing enough for it’s consumption.
(3iii) Substantial dependence on agriculture: They operate mainly on subsistence farming instead of commercialized farming.
(3iv) High rates of population growth and dependency burdens: The population growth are high and they depend mainly on government to provide for all their basic needs.
(3v) Dependence and vulnerability: i.e ability of people being exposed to attacked or harmed either physically or emotionally.
(4) is true that poverty has a woman face because women are likely to suffer most in any society because women are not always given equal chance with men in society and they suffer more to make name for themselves in any condition they see themselves.
Name: Eze Daniel Uchenna
Registration Number: 2018/244280
Department: Economics
Eco 361
Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. China and India have been among the fastest growing economies in the world. Since 1995, average income in China has increased almost tenfold, while in India it has nearly quadrupled. Despite very different political and economic systems, both countries have lifted millions from poverty, while income inequality and environmental degradation have worsened. Given the scale of these changes, the emergence of India and China has had profound implications for the rest of the world. But China and India have pursued very different development paths. China’s economic model has focused on gearing its manufacturing industries toward exports for the rest of the world. India has also become increasingly integrated with the rest of the world, though under its model, domestic demand and services have played a more important role. As this process has played out, China has become the workshop of the world. India’s growth has been less spectacular, but in many industries, from petrochemicals to software, India has achieved success on the global stage. Chinese goods—from T-shirts and air conditioners to iPod components and furniture—are for sale in almost every country on the planet. By contrast, Indian engineers automate office processes, call centers troubleshoot software glitches, and pharmaceutical companies produce generic drugs for clients around the world.
Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. UN’s Human Poverty Index (HPI) – measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under age 5. UN’s Human Development Index (HDI) – measures a country’s average achievements in three basic dimensions of human development: life expectancy, educational attainment and adjusted real income ($PPP per person).
Clearly discuss and analyse the Common Characteristics of Developing Nations. a) Low real per capita income: When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty. One of the biggest issues that undeveloped nations deal with is this. b) Unemployment and underemployment: A Problem: Other significant issues and prevalent traits of emerging or undeveloped countries include unemployment and underemployment. The issue of underemployment and unemployment in emerging nations is brought on by factors such as an overreliance on agriculture, a lack of industrialization, an improper use of natural resources, a lack of workforce planning, and others. Underemployment is a more significant issue than unemployment in developing countries. c) Consumption is high and saving is low: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help.
It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you don’t? Yes I agree. Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship. Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more than men. The effects of sexism and racism on institutional structures and across society limit the employment opportunities available to women, availability of caregiving supports, access to public social assistance programs, and more, leading to higher rates of poverty among women, particularly women of color, compared with men. Unmarried mothers have higher rates of poverty than married women, with or without children, and unmarried women without children. Almost one-quarter of unmarried mothers live below the poverty line. In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty.
Name: Ugwuala Faith Oluchi
Department: Economics
Reg no: 2019/251298
1) China and India have taken different routes to enter the world economy, and that has resulted in their gaining complementary strengths. Some business leaders have learned to make use of both countries’ resources and capabilities, as I shall show in the following pages. In the process, they have become globally competitive. Multinational companies will only lose if they don’t take advantage of the complementarities between the two economies. If they embrace both countries, however, they can tap into diverse strengths almost as easily as Chinese and Indian companies will.
Fathoming the Depth of Their Relationship
The tensions between China and India are real, but they will eventually prove to be aberrant. There are three good reasons for believing that: one historic, one economic, and one strategic.
First, China and India sealed their borders in modern times, but in the 2,000 years preceding the conflict of 1962, the two countries enjoyed strong economic, religious, and cultural ties. By the second century bc, the southern branch of the Silk Road—an interconnected series of ancient trade routes on land and sea—linked the cities of Xi’an in China and Pataliputra in India. Trade on the Tea and Horse Road, as the Chinese called it, was a significant factor in the growth of the Chinese and Indian civilizations. Seen in that light, the closing of the Sino–Indian border—not the border’s reopening—is the anomaly.
Second, economists tell us that neighbors tend to trade more than other nations do. An official committee set up to encourage commerce between China and India recently suggested that bilateral trade could touch $50 billion by 2010. Even the official numbers understate the potential, according to economists who use gravity models to estimate what the trade between two countries should be. Such models calculate potential bilateral trade as a function of the size of the nations, the physical distance between them, and other factors such as whether they share a language, a colonial past, a border, membership of a free-trade zone, and so on. Sino–Indian trade today is up to 40% less than it could be, according to those models.
Third, China and India, after they cut themselves off from each other, evolved in complementary ways that reduced the competitiveness between them. What China is good at, India is not—and vice versa. China instituted sweeping economic reforms in 1978 and has steadily opened up thereafter. A balance-of-payments crisis forced India’s reforms in 1991, but because of political factors, liberalization has been slow and piecemeal there ever since. China uses top-down authority to channel entrepreneurship; in fact, the government is the entrepreneur in many cases. India revels in a private sector–led frenzy, and its government is incapable of efficiency. China struggles to control fixed asset investment, while India is constrained by scarce capital. China’s capital markets are nonexistent; India’s are among the best in the emerging markets. And so on. There are no two countries more yin and yang than China and India.
The coming together of China and India puts at a disadvantage many companies, especially from the West, that refuse to react to this trend. They will not be able to generate the synergies that their Chinese and Indian rivals can. If they lose share in those two markets, they are—given China’s and India’s size—unlikely to remain market leaders for very long. Thus, Sino–Indian emerging giants pose a stiffer threat to multinational incumbents than the latter have so far .
2)There are many different measures used to assess the development gap, each one offering an alternate way of dividing up the world with regards to how developed it is. Here, we shall look at some of the most common indicators of development used in geography.
A. Gross Domestic Product (GDP)
GDP is s how much money a country makes from its products over the course of a year, usually converted to US Dollars: the sum of gross value added by all resident producers in the economy + product taxes – any subsidies not included in the value of the products.Gross National Product (GNP), GNP is the GDP of a nation together with any money that has been earned by investment abroad minus the income earned by non-nationals within the nation.
B. GNP per capita
GNP per capita is calculated as GNP divided by population; it is usually expressed in US Dollars. It’s a common indicator used for measuring development, but is imperfect as the calculation doesn’t take into account certain forms of production, such as subsistence production.
C. Birth and death rates
Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.
D. The Human Development Index (HDI)
Countries are ranked based on their score and split into categories that suggest how well developed they are.
E. Infant mortality rate
Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.
F.Literacy rate
The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.
G. Life expectancy
This simple statistic can be used as an indicator of the healthcare quality in a country or provincelevel of sanitationprovision of care for the elderly.
3) Characteristics of developing :
A. Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
B. Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
C. Rapid Population Growth: Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
D. The Problem of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
E. Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
F. Technological Backwardness: The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
G. Dualistic Economy: Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
H. Lack of Infrastructures: Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
I.Lower Productivity: In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
4. I do not think that one should put a face to the world’s disease, called poverty. Some people may argue about its sources, and on this point I would agree with Ruwadzano comment that “women are often on the forefront of poverty” where men are presented to be the main income creator, but still this does not mean that one can connect this phenomenon with gender. From the moment that we start to theorize about poverty’s gender, we are trapped because it does not help us in any case, in fact provokes many questions and in some way destroys the concept of gender equality. It is true that tha mass media expresses poverty by using the picture of women and children, but I think is created with an aim, to show us how important it is for this world to help the mothers in need, but it does not serve to show that poverty has a women’s face. Anyways, I am so glad you raised this question because there are various aspects that should be considered and analyzed.
Name: Nwokolo David Okechukwu
Registration Number: 2018/244291
Department: Economics
Eco 361
Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. The Chinese gave the world the wheelbarrow and bureaucracy; India gave the world the zero, decimals and Buddhism. Both were major exporters of fine textiles, silks; their ships sailed around the world and indeed dominated the seas till 1500. After that the Chinese withdrew from the seas and while the Indians continued, the powers that be in Delhi or Agra had no need for a navy. It was the kingdoms in South India which were maritime adventurers. As they declined in power under the Mughals, Indian shipping began to be conducted increasingly on a private basis rather than a state sponsored one. The control of the seas passed to a series of Western European countries. Yet the two countries remained economically vibrant till the late 18th century.
Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. UN’s Human Poverty Index (HPI) – measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under age 5. UN’s Human Development Index (HDI) – measures a country’s average achievements in three basic dimensions of human development: life expectancy, educational attainment and adjusted real income ($PPP per person).
Clearly discuss and analyse the Common Characteristics of Developing Nations. a) Too much reliance on agriculture: In developing countries, especially in rural regions, the bulk of the population works in agriculture. In some countries, agriculture is the only industry that provides work and revenue.Additionally, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly. b) Consumption is high and saving is low: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help. c) Inadequate infrastructure: In developing countries, infrastructure is not properly developed, including the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Additionally, constructed infrastructure is poorly managed and not allocated in an effective and equitable manner. This has put these countries’ ability to develop at risk.
It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you don’t? Yes I agree. Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship. Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more than men. In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources.
Name: Onyia Ugochukwu
Reg no: 2019/249490
Department: Economics
1) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
China and India have played important roles in Third World countries’ political and economic development. Both countries have distinct social and economic systems that have influenced the development and direction of other nations. In the international arena, China, as a communist country, has actively promoted anti-colonialism and non-alignment. India, on the other hand, has been a leading voice in the non-aligned movement and has worked to promote economic development in Third World countries. The global impact of these two countries cannot be overstated, and they continue to shape the political and economic landscape to this day.
2) Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Traditionally, a developing country is one that is not as wealthy as other countries. This is usually measured by looking at how much money the average person in the country earns each year, which is called Gross National Income (GNI) per capita. However, just looking at the money people earn doesn’t give a complete picture of how well a country is doing. So, other organizations like the United Nations and the World Bank, also look at other things like how many people are living in poverty, how good the education and healthcare system is, how long people live, and how stable the country’s economy and politics are. By looking at all these things together, they can get a better idea of how developed or underdeveloped a country is.
3) Clearly discuss and analyse the Common Characteristics of Developing Nations.
Low Gross Domestic Product (GDP) per capita: Developing nations generally have a lower GDP per capita compared to developed nations, which means that the average income of people in these countries is lower.
High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be a result of low GDP per capita and a lack of job opportunities.
Limited access to education and healthcare: Developing nations often have limited access to education and healthcare, which can result in lower literacy rates and poor health outcomes.
Dependence on agriculture and natural resources: Developing nations are often heavily dependent on agriculture and natural resources for their economy, which can make them vulnerable to fluctuations in commodity prices.
Infrastructure and technology gaps: Developing nations often have inadequate infrastructure and technology compared to developed nations, which can make it difficult for them to compete in the global economy.
Political instability: Developing nations often face political instability, which can be a result of weak governance, corruption, and a lack of democratic institutions.
4) It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
The statement “poverty has the face of a woman” means that women are disproportionately affected by poverty compared to men. This is often the case in many societies around the world. Women may face unique challenges that make them more vulnerable to poverty, such as discrimination in the workplace, lack of access to education and job training, and lack of control over their own finances.
I agree with this statement to some extent. For example, in many countries, women earn less than men for doing the same work. This means that they have less money to support themselves and their families. Additionally, women are often responsible for taking care of children and elderly family members, which can make it harder for them to find and keep a job.
However, I would also add that poverty is a complex issue and it affects both men and women. It is not only related to gender but also with other factors like race, education, and location. Therefore, it is important to have a comprehensive approach when addressing poverty, one that takes into account the unique challenges faced by different groups of people.
In conclusion, I agree that women are disproportionately affected by poverty, but it is important to recognize that poverty is a multifaceted problem that affects individuals and communities in various ways.
Name: Alozie-Uwa Chidinma Elizabeth
Department: Economics
Reg no: 2019/246255
1) China and India have taken different routes to enter the world economy, and that has resulted in their gaining complementary strengths. Some business leaders have learned to make use of both countries’ resources and capabilities, as I shall show in the following pages. In the process, they have become globally competitive. Multinational companies will only lose if they don’t take advantage of the complementarities between the two economies. If they embrace both countries, however, they can tap into diverse strengths almost as easily as Chinese and Indian companies will.
Fathoming the Depth of Their Relationship
The tensions between China and India are real, but they will eventually prove to be aberrant. There are three good reasons for believing that: one historic, one economic, and one strategic.
First, China and India sealed their borders in modern times, but in the 2,000 years preceding the conflict of 1962, the two countries enjoyed strong economic, religious, and cultural ties. By the second century bc, the southern branch of the Silk Road—an interconnected series of ancient trade routes on land and sea—linked the cities of Xi’an in China and Pataliputra in India. Trade on the Tea and Horse Road, as the Chinese called it, was a significant factor in the growth of the Chinese and Indian civilizations. Seen in that light, the closing of the Sino–Indian border—not the border’s reopening—is the anomaly.
Second, economists tell us that neighbors tend to trade more than other nations do. An official committee set up to encourage commerce between China and India recently suggested that bilateral trade could touch $50 billion by 2010. Even the official numbers understate the potential, according to economists who use gravity models to estimate what the trade between two countries should be. Such models calculate potential bilateral trade as a function of the size of the nations, the physical distance between them, and other factors such as whether they share a language, a colonial past, a border, membership of a free-trade zone, and so on. Sino–Indian trade today is up to 40% less than it could be, according to those models. Moreover, Sino–Indian trade is more balanced than China’s trade with the United States and Europe; the latter countries’ large deficits cause political friction.
Third, China and India, after they cut themselves off from each other, evolved in complementary ways that reduced the competitiveness between them. What China is good at, India is not—and vice versa. China instituted sweeping economic reforms in 1978 and has steadily opened up thereafter. A balance-of-payments crisis forced India’s reforms in 1991, but because of political factors, liberalization has been slow and piecemeal there ever since. China uses top-down authority to channel entrepreneurship; in fact, the government is the entrepreneur in many cases. India revels in a private sector–led frenzy, and its government is incapable of efficiency. China struggles to control fixed asset investment, while India is constrained by scarce capital. China welcomes foreigners, shunning only those who are not part of its power structure. India shuns foreigners and mollycoddles its own. China’s capital markets are nonexistent; India’s are among the best in the emerging markets. And so on. There are no two countries more yin and yang than China and India.
The coming together of China and India puts at a disadvantage many companies, especially from the West, that refuse to react to this trend. They will not be able to generate the synergies that their Chinese and Indian rivals can. If they lose share in those two markets, they are—given China’s and India’s size—unlikely to remain market leaders for very long. Thus, Sino–Indian emerging giants pose a stiffer threat to multinational incumbents than the latter have so far .
2)There are many different measures used to assess the development gap, each one offering an alternate way of dividing up the world with regards to how developed it is. Here, we shall look at some of the most common indicators of development used in geography.
A. Gross Domestic Product (GDP)
GDP is s how much money a country makes from its products over the course of a year, usually converted to US Dollars: the sum of gross value added by all resident producers in the economy + product taxes – any subsidies not included in the value of the products.Gross National Product (GNP), GNP is the GDP of a nation together with any money that has been earned by investment abroad minus the income earned by non-nationals within the nation.
B. GNP per capita
GNP per capita is calculated as GNP divided by population; it is usually expressed in US Dollars. It’s a common indicator used for measuring development, but is imperfect as the calculation doesn’t take into account certain forms of production, such as subsistence production.
C. Birth and death rates
Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.
D. The Human Development Index (HDI)
Countries are ranked based on their score and split into categories that suggest how well developed they are.
E. Infant mortality rate
Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.
F.Literacy rate
The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.
G. Life expectancy
This simple statistic can be used as an indicator of the healthcare quality in a country or provincelevel of sanitationprovision of care for the elderly.
3) Characteristics of developing :
A. Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
B. Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
C. Rapid Population Growth: Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
D. The Problem of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
E. Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
F. Technological Backwardness: The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
G. Dualistic Economy: Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
H. Lack of Infrastructures: Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
I. Lower Productivity: In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
4) It is true that poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure hwo you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
Name: Nwakanma Chisom Blessing
Registration Number: 2019/241255
Department: Economics
Eco 361
Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. China and India are the giants of the emerging world. With more than a third of the world’s population between them, these two countries would have an immense effect on global trends even if they were not growing rapidly. But over the past 10 years, China and India have also been among the fastest growing economies in the world. Since 1995, average income in China has increased almost tenfold, while in India it has nearly quadrupled. Despite very different political and economic systems, both countries have lifted millions from poverty, while income inequality and environmental degradation have worsened. Given the scale of these changes, the emergence of India and China has had profound implications for the rest of the world. But China and India have pursued very different development paths. China’s economic model has focused on gearing its manufacturing industries toward exports for the rest of the world. India has also become increasingly integrated with the rest of the world, though under its model, domestic demand and services have played a more important role. As this process has played out, China has become the workshop of the world. India’s growth has been less spectacular, but in many industries, from petrochemicals to software, India has achieved success on the global stage. Chinese goods—from T-shirts and air conditioners to iPod components and furniture—are for sale in almost every country on the planet. By contrast, Indian engineers automate office processes, call centers troubleshoot software glitches, and pharmaceutical companies produce generic drugs for clients around the world.
Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. UN’s Human Poverty Index (HPI) – measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under age 5. UN’s Human Development Index (HDI) – measures a country’s average achievements in three basic dimensions of human development: life expectancy, educational attainment and adjusted real income ($PPP per person).
Clearly discuss and analyse the Common Characteristics of Developing Nations. a) Low real per capita income: When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty. One of the biggest issues that undeveloped nations deal with is this. b) Consumption is high and saving is low: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help. c) Unemployment and underemployment: A Problem: Other significant issues and prevalent traits of emerging or undeveloped countries include unemployment and underemployment. The issue of underemployment and unemployment in emerging nations is brought on by factors such as an overreliance on agriculture, a lack of industrialization, an improper use of natural resources, a lack of workforce planning, and others. Underemployment is a more significant issue than unemployment in developing countries.
It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you don’t? Yes I agree. The effects of sexism and racism on institutional structures and across society limit the employment opportunities available to women, availability of caregiving supports, access to public social assistance programs, and more, leading to higher rates of poverty among women, particularly women of color, compared with men. Unmarried mothers have higher rates of poverty than married women, with or without children, and unmarried women without children. Almost one-quarter of unmarried mothers live below the poverty line. Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship. Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more than men. In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty.
NAME: BENJAMIN IZUAGBA C.
REG NO: 2018/245945
DEPARTMENT: ECONOMICS
(1) The term third world countries was used in the 1955 Afro-Asian conference,held in Bandung, Indonesia. This conference marked the biginning of the political emergence of the third world countries. Two countries( China and India) with different social and economic systems played a major role in actualising this.
As a result of decolonization,most colonized countries became an independent state. These countries had a common historical background through European and North American domination,underdevelopment,rapid demographic growth etc. and they were called as the ‘Third World‘.The term ‘Third World’ referred to the one-third of the superpowers i.e. the United States and the Soviet Union. Third World,not a homogenous or similar group,has different political system and level of economic development. The Third World countries are also called developing countries because they are facing the economic,social and political problems like poverty,starvation,illiteracy and ethnic conflicts. This countries have opposed imperialism, colonialism, foreign intervention and have supported peaceful coexistence. Since they all have similar challenges and aspirations formed and called themselves a non- alignment countries. Non- alignment here means not belonging to any of the two world powers or Bloc(America and Russia)
(2)The set of indices developed by UN and other global agencies on how to measure development includes:
(i) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:
(a) Life expectancy
(b) Educational attainment and
(c) Adjusted real income
The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of most African countries for example. Countries like USA,France,South Korea etc are examples of countries with high HDI.
(ii) UN’s Human Poverty Index (HPI): This index measures deprivation using % of people expected to die before age 40, % of of illiterate adults, % of people without access to health services and safe water and the % of underweight children under five.
Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due to lack of education etc.
Norway formally was regarded as country with low HPI,but currently, Switzerland which was formerly second in the ranking is now dominating as the country with the lowest HPI.
Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered undeveloped.
According to World Bank, countries with a GNI of 11,905 US dollar and less are developing (specified by the World Bank,2015) and 12,275 US dollar (World Bank,2019)
(3) The following are the common characteristics of Developing Nation:
(i) Low level of living: in almost all the developing countries, the majority of the population of the country is faced with low level of living, as they are poor and unable to adequately provide there basic necessities of life.
(ii) Low Level of Productivity: One common feature that most developed countries posses, that developing countries does not posses is Economic growth which is measured based on a countries productive ability. In developing countries,resources are under utilized and this gives rise to low level of productivity.
(iii) High rate of Population growth and dependency burdens: Developing countries are mostly characterised by a continuous increase in their population. Not just that,the rate of the dependent population also rises due to increase in population without a corresponding increase in employment, production level etc.
(iv) High and rising level of Unemployment and Under employment: Due to low level of productivity, there is inadequate employment for the working population,hence this gives rise to high and rising level of Unemployment. The unavailability of jobs also renders most skilled labours in the country useless,hence leaving them with no choice but to venture into any job that comes there way,even though the job underscores his potential,in the bid to survive.
(v) Traditional,Rural social Structures: Developing nations are also characterised by Traditional,Rural Social Structures. Rural institutions and traditional settings are commonly found in the developing countries society.
(vi) Widespread of poverty: Poverty as a term is the inability of people to provide there daily necessity of food,shelter and clothing. The majority of people in any developing countries are poor,just few are rich which gives rise to inequality.
(vii) Prevalence of Imperfect market: Due to low level of production,there are little or no producers of goods and services needed by the consumers in the developing countries. The little producers available hence increase the price of their goods outrageously in order to make excessive profit at the expense of the consumer. This is a clear example of an imperfect market.
(viii) Substantial dependence on agricultural products and primary products export:
Developing nations are Agrarian in nature. They produce agricultural produce(primary products) such as cocoa, Kolanut, timber,cotton, palm kernel etc and export to foreign countries. The export of agricultural products for example amounted greatly in the GDP of Nigeria prior to the discovery and exploration of crude oil in Nigeria
(ix) Dependence and Vulnerability: The societies of developing countries are faced with exposure to insecurity which limits the freedom of man. This is common in developing countries.
(x) Distorted Economics devoted to producing primary products for the developed world and to provide Market for their finished goods: Developing countries mostly produce primary products which they export to developed world as raw materials for there companies. The developed countries also exports the finished goods produced back to the developing countries for consumption. By so doing,the developing countries provides market for the developed countries finished goods.
(4) I agree with the argument ‘ Poverty has the face of a woman’. My reasons for agreeing to the argument are:
Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender based violence is a daily reality for many.
, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
Name: Oke Amarachukwu Nnenna
Registration Number: 2019/241949
Department: Economics
Eco 361
Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. Both India and China were a highly urban civilization by the 18th century, though of course the bulk of the population lived in rural areas.. China was much advanced in science and technology, with gunpowder, printing, paper and paper currency as its inventions. China’s scientific and technological achievements are known to us thanks to the monumental efforts of Joseph Needham. India was known for its mathematics and its philosophy. The Chinese gave the world the wheelbarrow and bureaucracy; India gave the world the zero, decimals and Buddhism. Both were major exporters of fine textiles, silks; their ships sailed around the world and indeed dominated the seas till 1500. After that the Chinese withdrew from the seas and while the Indians continued, the powers that be in Delhi or Agra had no need for a navy. It was the kingdoms in South India which were maritime adventurers. As they declined in power under the Mughals, Indian shipping began to be conducted increasingly on a private basis rather than a state sponsored one. The control of the seas passed to a series of Western European countries. Yet the two countries remained economically vibrant till the late 18th century. China had a higher productivity in its agriculture, the iron tipped plough having been in use at least half a millennium before it made its appearance in India. Thus Needham attributes the animal drawn plough to the period of the Warring states, while Habib says that the iron plough came to India in the first century AD.
Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. UN’s Human Poverty Index (HPI) – measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under age 5. UN’s Human Development Index (HDI) – measures a country’s average achievements in three basic dimensions of human development: life expectancy, educational attainment and adjusted real income ($PPP per person).
Clearly discuss and analyse the Common Characteristics of Developing Nations. a) Inadequate infrastructure: In developing countries, infrastructure is not properly developed, including the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Additionally, constructed infrastructure is poorly managed and not allocated in an effective and equitable manner. This has put these countries’ ability to develop at risk. b) Consumption is high and saving is low: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help. c) Too much reliance on agriculture: In developing countries, especially in rural regions, the bulk of the population works in agriculture. In some countries, agriculture is the only industry that provides work and revenue.Additionally, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly.
It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you don’t? Yes I agree. The effects of sexism and racism on institutional structures and across society limit the employment opportunities available to women, availability of caregiving supports, access to public social assistance programs, and more, leading to higher rates of poverty among women, particularly women of color, compared with men. Unmarried mothers have higher rates of poverty than married women, with or without children, and unmarried women without children. Almost one-quarter of unmarried mothers live below the poverty line. Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship. Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more than men. In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty.
Name: Sibeudu Chukwuebuka Raluchukwu
Registration Number: 2019/244735
Department: Economics
1) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. Both India and China were a highly urban civilization by the 18th century, though of course the bulk of the population lived in rural areas.. China was much advanced in science and technology, with gunpowder, printing, paper and paper currency as its inventions. China’s scientific and technological achievements are known to us thanks to the monumental efforts of Joseph Needham. India was known for its mathematics and its philosophy. The Chinese gave the world the wheelbarrow and bureaucracy; India gave the world the zero, decimals and Buddhism. Both were major exporters of fine textiles, silks; their ships sailed around the world and indeed dominated the seas till 1500. After that the Chinese withdrew from the seas and while the Indians continued, the powers that be in Delhi or Agra had no need for a navy. It was the kingdoms in South India which were maritime adventurers. As they declined in power under the Mughals, Indian shipping began to be conducted increasingly on a private basis rather than a state sponsored one. The control of the seas passed to a series of Western European countries. Yet the two countries remained economically vibrant till the late 18th century. China had a higher productivity in its agriculture, the iron tipped plough having been in use at least half a millennium before it made its appearance in India. Thus Needham attributes the animal drawn plough to the period of the Warring states, while Habib says that the iron plough came to India in the first century AD.
2) Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. UN’s Human Development Index (HDI) – measures a country’s average achievements in three basic dimensions of human development: life expectancy, educational attainment and adjusted real income ($PPP per person). UN’s Human Poverty Index (HPI) – measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under age 5.
3) Clearly discuss and analyse the Common Characteristics of Developing Nations. a) High rates of population growth and dependency burdens – Developing nations either experience rapid population increase or have greater populations. Different factors contribute to the faster population increase in emerging nations. People feel more secure and have more children in these nations because of the higher newborn and child mortality rates. People in underdeveloped nations are also influenced to have more children by a lack of family planning information and alternatives, a lack of sex education, and beliefs that having more children will increase the workforce, which will increase income and riches. The idea of conservatism existing in such countries is another argument in favor of this. b) Widespread poverty – The majority of people in developing countries have been affected by the issue of poverty. Even the most fundamental demands cannot be met by them. The issue of poverty is also reflected in the low per capita in emerging countries. So, in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access. c) High levels of rising unemployment and underemployment – A Problem: Other significant issues and prevalent traits of emerging or undeveloped countries include unemployment and underemployment. The issue of underemployment and unemployment in emerging nations is brought on by factors such as an overreliance on agriculture, a lack of industrialization, an improper use of natural resources, a lack of workforce planning, and others. Underemployment is a more significant issue than unemployment in developing countries. Because there are no alternatives to these types of professions, people are forced to work at subpar jobs. The problem of underemployment is widespread in several nations, particularly in their rural and underdeveloped regions.
4) It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you don’t? Yes I agree. Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households. In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.
NAME: UZOCHUKWU CHIDINMA VIVIAN
REG NO: 2017/250786
DEPARTMENT: ECONOMICS.
1) Political self-determination, reciprocal respect for sovereign rights, non-aggression, non-interference in domestic matters, and equality were the fundamental tenets of the Bandung Conference.
The conference’s stated objectives were to support economic and cultural cooperation between Afro-Asians and Asians and to reject colonialism and neocolonialism by any country.
These objectives included advancing economic and cultural co-operation, safeguarding human rights and the idea of self-determination, urging an end to all forms of racial discrimination, and reiterating the significance of peaceful coexistence.
2) The United Nations world bank and other Bretton woods institutions, indicators for measuring development are:
1.Low
2.Lower-middle
3.Upper-middle
4.High-income countries.
3) The characteristics of Developing nations are:
1.Low level of living: Most Developing nations of the world are characterized with low level of living. This is a situation whereby the people are unable to adequately feed, cloth and shelter themselves. They lack these three basic factors for sustenance.
2.Low level of productivity: This is a situation where whereby people occupying government offices and positions and even civil servants produce less of what is expected of them. They exhibit nonchalant attitude to work and laziness while carrying out their functions. This could be as a result of the absence of a superior body to checkmate and oversee their activities.
3. High rates of population growth and dependency burdens: In most developing countries, there is a very high increase in population growth and as such leads to dependency burden. This is as a result of no control in the increase in birth rate. As children are brought into the world with little or nothing to carter for them and as such it will result to them stealing or begging on the streets and neighborhoods.
4. High and rising levels of unemployment and underemployment: Because of the high population found in most developing countries, there are little or no job opportunities in the workforce. And even some of them that are employed, are underemployed as they would just want to earn a living to survive.
5. Traditional,rural and social structures: Most developing countries of the world lack basic structures like hospitals, schools and other facilities that could help facilitate human life.
6. Widespread poverty: Widespread poverty is the commonest factor in developing nations. People who control economic power in government and in businesses are so little in ratio compared to those who do not. As such, poverty eats deep down in such countries.
7. Prevalence of imperfect markets: An imperfect market is an environment in which all parties do not have complete information, and in which participants can influence prices. In such developing countries of the world, imperfect markets are so rampant, where a few control and determine prices in the market. This is an absence of a pure competitive market.
8. Substantial dependence on agricultural production and primary-product exports: Most developing countries depend on subsistence agriculture where farmers plant and cultivate just for immediate consumption and not for commercialization where they can sell such farm products to yield income.
9. Dependence and Vulnerability: Because most people in developed countries are not well cartered for especially women and children, they are exposed to the possibility of being attacked or harmed either physically or emotionally.
4) It has been argued that poverty has the face of a woman. Do you agree or disagree? I AGREE.
Poverty has the face of a woman in the sense that in most developing and underdeveloped countries of the world where poverty is pre-dominant, where traditional and social cultures are still existing, women are seen and taken as “second class citizens” because often a times they are denied basic education and skills so as to enable them to fend for themselves. They are made to fully rely on their husbands to fend for them and the children . And also recognizing the fact that women are child bearers that bring forth children to the world and so in cases where the husband is no more, then woman is left to fend for the family with little or nothing.
And also, on average, in the gender wage gap, women earn less than men. Women struggle more than men to cover everyday expenses due to the gender wage gap, but the gap compounds over a lifetime, meaning women end up with fewer resources and savings than men.
With these few extractions, I can say that poverty has the face of a woman.
Name :Nnaji kelechi
Reg no :2019/245744
Department: Economics dept
Eco 361 assignment
No 1
The bandung conference in 1955, was the beginning of political emergence of the third world.
As a result of decolonization, the united nations at first numerically dominated by European countries and countries of European origin, was gradually transformed in something of a third world forum.
No 2
However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
There are
1. Change to atlas GNI per capital
In each country, factors such as economic growth, inflation, exchange rate, and population growth influences the level of atlas GNI per capital.
The world Bank’s official estimates of the size of economics are based on the GNI converted to current U.S dollars using the world bank atlas method.
The atlas method smoothes exchange rate fluctuations by using a three year moving average, price adjusted convertion factor.
2. To keep income classification thresholds fixed in real terms they are adjusted annually for inflation using the special drawing right (SDR) deflator.
***The special drawing right (SDR) isan international reserve asset created by the IMF to supplement the official reserves of it’s member countries.
SDR is a potential claim on the freelyusable currencies of IMF members. As such SDR can provide a country with liquidity.
** The SDR deflator is used as a measure of world inflation for annual adjustments to operational and analytical income thresholds and world Bank’s atlas method estimates of GNI per capital.
No 3
The characteristics of a developing nations are
I. High rate of population growth and dependency rate burdens
Most developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children.
Ii. Low levels of productivity
The majority of the population are involved in subsistence agriculture that is the production of food for themselves and there familiea rather than for commercial purposes.
In developing nations, the productivity of factors of production is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently.
Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
iii. High and raising levels of unemployment and underemployment
Unemployment and underemployment are other major problems and common features of developing. The problem of unemployment and underemployment in developing countries is as a result of excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. An example is a PhD holder teaching in primary school.
iv. widespread poverty
Most individuals in developing nations are suffering from the problem of poverty. They are not able to provide their basic needs. So, poverty in developing countries can be seen in terms of inability to provide basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access
V. Substantial dependency on agricultural production and primary product exports.
The majority of the population in developing nations is engaged in the agriculture sector and the majority of the population are involved in subsistence agriculture that is the production of food for themselves and there familiea rather than for commercial purposes and export.Agriculture is one of the main source of income and employment in such nations because they export more of primary products such as crude oil, coacoa .This sector has also a higher share of the gross domestic product in poor countries.
No 4
Yes I agree that poverty have a woman’s face.
The reason is because women are the most people that suffers poverty unlike the men in terms of their responsibility. Just like in some society the women are seen as inferior to men. The men are trained in school or sent out to learn hand work and are given free hand to do what everything they like but it is not so with the women for they are seen as liability because they will be married by another man and will answer the name of the man. Woman are only seen as the people that give birth to children take care of the children, wash the clothes of her husband and keep the house clean and will have will have little or no room or opportunity to make money maybe sell stuff or be employed because their hands are tied up with toomuch responsibility while the men are seen as the people that provides the basic needs of the family and makes the decision in the family. And this beings about women depending on their husbands for money or for provisions making them to have the face of poverty
Name:- ONWUKWE JOSEPH NWACHUKWU.
Reg Number:- 2019/243773.
Department:- ECONOMICS.
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
ANSWER:- As a result of de-colonization, The United Nations, at first numerically dominated by European countries and countries of European origin was gradually transformed into something of third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, although essentially academic debate. Despite that debate, the unity of the third world remains hypothetical, expressed mainly from the platform of international conference.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
ANSWER:- Countries with a (GNI) of $11,905 and less are defined as developing (Specified by the world Bank in the year 2015) and $12,275( World Bank in the year 2019).
The United Nations’ Human Development Index (HDI) seeks to quantify a country’s level of prosperity based on both economic and non-economic factors. Non-economic factors include life expectancy, and educational attainment. Economic factors are measured by gross national income (GNI) per-capita.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
ANSWER:- (a). Excessive Dependence on Agriculture:- A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
(b). Low Level of Capital Formation:- The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
(c). Rapid population growth and Unemployment:-. The diversity among developing economies is perhaps nowhere to be seen so much in evidence as in respect of the facts of their population in respect of its size, density and growth. While we have examples of India, Pakistan and Bangladesh with their teeming millions and galloping rates of population growth, there are the Latin American countries which are very sparsely populated and whose total population in some cases numbers less than a single metropolitan city in India and China. In several newly emerging countries of Africa too and in some of the Middle Eastern countries the size of their population cannot be regarded as excessive, considering their large expanse. The South- East and Eastern Asia, on the other hand, have large populations.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
ANSWER:- I support the motion which says that Poverty has the face of a woman…Nigeria in particular has proven this to me; Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment.
Name: Asogwa Ijeoma Agatha
Reg no: 2019/251105
Department: Economics
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
Answer
China and India have played a significant role in promoting the political emergence of Third World countries through their participation in various international organizations and movements. China has been a leader in the Non-Aligned Movement, which promotes the political and economic independence of Third World countries. India has also been active in the Non-Aligned Movement, and has also played a key role in the formation of the Group of 77, a coalition of developing countries that works to promote their collective economic interests. Both countries have also provided economic and military assistance to Third World countries or global north and have used their own experiences of development to serve as models for other nations.
Both countries have also played a significant role in altering the relationship between countries of the global south and their counterparts in the global north, as well as between communist and capitalist blocs.
China’s emergence as a major economic power and its strong emphasis on self-reliance and economic development have encouraged other Third World countries to pursue similar paths. China’s success in lifting hundreds of millions of people out of poverty and its ability to maintain high economic growth rates despite being a communist country have challenged the idea that capitalism is the only path to prosperity.
India’s own democratic and capitalist system provided an alternative model to the Soviet-style socialism that was promoted by many Third World countries.
Both countries have also changed the relationship between Third World countries and industrial countries by challenging the idea that developed countries should dictate the economic and political policies of developing countries. They have advocated for greater representation and decision-making power for Third World countries in international organizations and have called for more equitable economic relationships between developed and developing nations.
Overall, China and India have played a significant role in challenging traditional power dynamics and promoting greater autonomy and representation for Third World countries in international affairs.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and Indicators for measuring development and under development.
Answer
The United Nations uses several criteria and indicators to measure development and underdevelopment. These include:
Gross Domestic Product (GDP): GDP is the most widely used indicator of economic development. It measures the value of all goods and services produced within a country in a given period of time.
Human Development Index (HDI): HDI measures a country’s overall development by taking into account three key components: life expectancy, education, and per capita income.
Gender Development Index (GDI): GDI measures gender-based inequalities in the same three key components of HDI: life expectancy, education, and per capita income.
Multidimensional Poverty Index (MPI): MPI is a measure of poverty that takes into account multiple dimensions of poverty, including health, education, and living standards.
Gini coefficient: The Gini coefficient measures income inequality within a country. A Gini coefficient of 0 indicates perfect equality, while a coefficient of 1 indicates perfect inequality.
Education Index: Education Index is an indicator of the level of education in a country, based on the adult literacy rate and the combined primary, secondary and tertiary gross enrollment ratio.
Life expectancy at birth: Life expectancy at birth measures the average number of years a person can expect to live in a given country.
Employment rate: Employment rate measures the percentage of the population that is employed.
Poverty rate: Poverty rate measures the percentage of the population living below the poverty line.
The World Bank uses several criteria and indicators to measure development and underdevelopment. These include:
Gross National Income (GNI) per capita: GNI per capita is a measure of a country’s economic development, calculated by dividing the country’s total GNI by its population.
Poverty rate: Poverty rate measures the percentage of the population living below the poverty line.
Access to basic services: The World Bank measures access to basic services, such as education, healthcare, and clean water, as an indicator of development.
Gender Development Index (GDI): GDI measures gender-based inequalities in the same three key components of HDI: life expectancy, education, and per capita income.
Human Capital Index (HCI): HCI measures the productivity of a country’s population by taking into account factors such as education, health, and labor force participation.
Ease of Doing Business Index (EODB): EODB measures the ease of doing business in a country by taking into account factors such as the time and cost of starting a business, access to credit, and the ease of paying taxes.
Investment Climate Assessment (ICA): ICA measures the investment climate of a country by assessing the ease of doing business, the quality of infrastructure, and the effectiveness of governance.
Logistics Performance Index (LPI): LPI measures the efficiency of a country’s logistics network by taking into account factors such as customs clearance times, the quality of transport infrastructure, and the reliability of logistics services.
Business Environment and Enterprise Performance Survey (BEEPS): BEEPS is a survey that measures the business environment and enterprise performance in a country by assessing the perceptions of firms on various business environment variables such as access to finance, corruption, and labor regulations.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Answer
Developing countries often have lower levels of economic development and infrastructure, lower per capita income, and higher poverty rates compared to developed countries. They also tend to have less developed industrial bases, less access to technology, and less educated populations. Additionally, many developing countries have higher rates of disease and lower life expectancies. Political instability and corruption may also be more prevalent in developing countries.
Developing countries, also known as less developed countries or emerging economies, typically have lower levels of economic development and standard of living compared to developed countries. Some common characteristics of developing countries include:
High poverty rates: this is caused by high rate of unemployment, all the factors of production are idle and production is low causing a manufacturer to produce less there by rendering some production factors idle.
Dependence on agriculture and natural resources: developing nations relies on subsistence agriculture production, whereby they produce for their personal consumption and any left over from their produce is been sold to the members of their village or neighboring villages.
Limited access to education, healthcare, and basic infrastructure: most developing countries live in rural areas where there is limited access to basic amenities and the structures available in such areas are depleted.
High population growth and urbanization: developing countries are experiencing increasing population growth without an increasing in production in rural areas making people to live the rural areas in search of green pastures.
Limited industrialization and technological development
Political and economic instability: developing countries are facing on stable governance and economic instability, because they population is growing at a geometric rate while the food supply is growing at an arithmetic rate, and with this many people are not working prices of goods are constantly rising leading to inflation or sometimes the countries experience recession.
High external debt: the government of developing nations tends to borrow too much from international organization or from developed countries by so doing the external debts increases.
Greater vulnerability to natural disasters and climate change: developing nations are at greater risks of experiencing natural disasters because we lack technologies and technical know how on how to manage our environment. Using oil mining in Nigeria as a case study, areas around bayelsa were oil is gotten from are at great risks of experiencing disasters and are currently facing some environment hazard.
Low per capital income
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Answer
I agree to the above statement that says “poverty has the face of a woman. Over the years poverty disproportionately affects women and girl child in many ways, due to some cultural biases on the female child, Educational level and societal opinion about what a female should and should not do. To back my claims here are some examples of how poverty has the face of a woman:
Lack of education: Women and girls in poverty-stricken areas often lack access to education and are more likely to be illiterate. This limits their economic opportunities and perpetuates the cycle of poverty.
Income inequality: Women are often paid less than men for the same work, and they are more likely to be in low-paying, informal jobs with little job security or social protections.
Health disparities: Women living in poverty are at a greater risk of poor health due to lack of access to healthcare, nutritious food, and adequate sanitation.
Increased burden of care: Women in poverty are often responsible for caring for children and other dependents, which can make it harder for them to find and keep jobs, and limits their ability to earn income.
Greater vulnerability to violence: Women living in poverty are more likely to experience gender-based violence and have less access to legal and social support services.
Limited participation in decision-making: Women living in poverty are often marginalized in their communities and lack the power to make decisions about their own lives and the lives of their families.
Cultural biases: in some societies women are treated as lower class people, they are not allowed to attain a level of education, they are viewed as baby making machines for the men, they are not involved in decision making process or even allowed to carry out any innovative activities, by so doing some talents possessed by the female child is killed and this automatically creates a population of dependent women.
All these factors contribute to the fact that women are more likely to live in poverty, and poverty disproportionately affects women and girls.
Name: Asogwa Ijeoma Agatha
Reg no: 2019/251105
Department: Economics
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
Answer
China and India have played a significant role in promoting the political emergence of Third World countries through their participation in various international organizations and movements. China has been a leader in the Non-Aligned Movement, which promotes the political and economic independence of Third World countries. India has also been active in the Non-Aligned Movement, and has also played a key role in the formation of the Group of 77, a coalition of developing countries that works to promote their collective economic interests. Both countries have also provided economic and military assistance to Third World countries or global north and have used their own experiences of development to serve as models for other nations.
Both countries have also played a significant role in altering the relationship between countries of the global south and their counterparts in the global north, as well as between communist and capitalist blocs.
China’s emergence as a major economic power and its strong emphasis on self-reliance and economic development have encouraged other Third World countries to pursue similar paths. China’s success in lifting hundreds of millions of people out of poverty and its ability to maintain high economic growth rates despite being a communist country have challenged the idea that capitalism is the only path to prosperity.
India’s own democratic and capitalist system provided an alternative model to the Soviet-style socialism that was promoted by many Third World countries.
Both countries have also changed the relationship between Third World countries and industrial countries by challenging the idea that developed countries should dictate the economic and political policies of developing countries. They have advocated for greater representation and decision-making power for Third World countries in international organizations and have called for more equitable economic relationships between developed and developing nations.
Overall, China and India have played a significant role in challenging traditional power dynamics and promoting greater autonomy and representation for Third World countries in international affairs.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and Indicators for measuring development and under development.
Answer
The United Nations uses several criteria and indicators to measure development and underdevelopment. These include:
Gross Domestic Product (GDP): GDP is the most widely used indicator of economic development. It measures the value of all goods and services produced within a country in a given period of time.
Human Development Index (HDI): HDI measures a country’s overall development by taking into account three key components: life expectancy, education, and per capita income.
Gender Development Index (GDI): GDI measures gender-based inequalities in the same three key components of HDI: life expectancy, education, and per capita income.
Multidimensional Poverty Index (MPI): MPI is a measure of poverty that takes into account multiple dimensions of poverty, including health, education, and living standards.
Gini coefficient: The Gini coefficient measures income inequality within a country. A Gini coefficient of 0 indicates perfect equality, while a coefficient of 1 indicates perfect inequality.
Education Index: Education Index is an indicator of the level of education in a country, based on the adult literacy rate and the combined primary, secondary and tertiary gross enrollment ratio.
Life expectancy at birth: Life expectancy at birth measures the average number of years a person can expect to live in a given country.
Employment rate: Employment rate measures the percentage of the population that is employed.
Poverty rate: Poverty rate measures the percentage of the population living below the poverty line.
The World Bank uses several criteria and indicators to measure development and underdevelopment. These include:
Gross National Income (GNI) per capita: GNI per capita is a measure of a country’s economic development, calculated by dividing the country’s total GNI by its population.
Poverty rate: Poverty rate measures the percentage of the population living below the poverty line.
Access to basic services: The World Bank measures access to basic services, such as education, healthcare, and clean water, as an indicator of development.
Gender Development Index (GDI): GDI measures gender-based inequalities in the same three key components of HDI: life expectancy, education, and per capita income.
Human Capital Index (HCI): HCI measures the productivity of a country’s population by taking into account factors such as education, health, and labor force participation.
Ease of Doing Business Index (EODB): EODB measures the ease of doing business in a country by taking into account factors such as the time and cost of starting a business, access to credit, and the ease of paying taxes.
Investment Climate Assessment (ICA): ICA measures the investment climate of a country by assessing the ease of doing business, the quality of infrastructure, and the effectiveness of governance.
Logistics Performance Index (LPI): LPI measures the efficiency of a country’s logistics network by taking into account factors such as customs clearance times, the quality of transport infrastructure, and the reliability of logistics services.
Business Environment and Enterprise Performance Survey (BEEPS): BEEPS is a survey that measures the business environment and enterprise performance in a country by assessing the perceptions of firms on various business environment variables such as access to finance, corruption, and labor regulations.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Answer
Developing countries often have lower levels of economic development and infrastructure, lower per capita income, and higher poverty rates compared to developed countries. They also tend to have less developed industrial bases, less access to technology, and less educated populations. Additionally, many developing countries have higher rates of disease and lower life expectancies. Political instability and corruption may also be more prevalent in developing countries.
Developing countries, also known as less developed countries or emerging economies, typically have lower levels of economic development and standard of living compared to developed countries. Some common characteristics of developing countries include:
High poverty rates: this is caused by high rate of unemployment, all the factors of production are idle and production is low causing a manufacturer to produce less there by rendering some production factors idle.
Dependence on agriculture and natural resources: developing nations relies on subsistence agriculture production, whereby they produce for their personal consumption and any left over from their produce is been sold to the members of their village or neighboring villages.
Limited access to education, healthcare, and basic infrastructure: most developing countries live in rural areas where there is limited access to basic amenities and the structures available in such areas are depleted.
High population growth and urbanization: developing countries are experiencing increasing population growth without an increasing in production in rural areas making people to live the rural areas in search of green pastures.
Limited industrialization and technological development
Political and economic instability: developing countries are facing on stable governance and economic instability, because they population is growing at a geometric rate while the food supply is growing at an arithmetic rate, and with this many people are not working prices of goods are constantly rising leading to inflation or sometimes the countries experience recession.
High external debt: the government of developing nations tends to borrow too much from international organization or from developed countries by so doing the external debts increases.
Greater vulnerability to natural disasters and climate change: developing nations are at greater risks of experiencing natural disasters because we lack technologies and technical know how on how to manage our environment. Using oil mining in Nigeria as a case study, areas around bayelsa were oil is gotten from are at great risks of experiencing disasters and are currently facing some environment hazard.
Low per capital income
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Answer
I agree to the above statement that says “poverty has the face of a woman. Over the years poverty disproportionately affects women and girl child in many ways, due to some cultural biases on the female child, Educational level and societal opinion about what a female should and should not do. To back my claims here are some examples of how poverty has the face of a woman:
Lack of education: Women and girls in poverty-stricken areas often lack access to education and are more likely to be illiterate. This limits their economic opportunities and perpetuates the cycle of poverty.
Income inequality: Women are often paid less than men for the same work, and they are more likely to be in low-paying, informal jobs with little job security or social protections.
Health disparities: Women living in poverty are at a greater risk of poor health due to lack of access to healthcare, nutritious food, and adequate sanitation.
Increased burden of care: Women in poverty are often responsible for caring for children and other dependents, which can make it harder for them to find and keep jobs, and limits their ability to earn income.
Greater vulnerability to violence: Women living in poverty are more likely to experience gender-based violence and have less access to legal and social support services.
Limited participation in decision-making: Women living in poverty are often marginalized in their communities and lack the power to make decisions about their own lives and the lives of their families.
Cultural biases: in some societies women are treated as lower class people, they are not allowed to attain a level of education, they are viewed as baby making machines for the men, they are not involved in decision making process or even allowed to carry out any innovative activities, by so doing some talents possessed by the female child is killed and this automatically creates a population of dependent women.
All these factors contribute to the fact that women are more likely to live in poverty, and poverty disproportionately affects women and girls.
Name: Asogwa Ijeoma Agatha
Reg no: 2019/251105
Department: Economics
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
Answer
China and India have played a significant role in promoting the political emergence of Third World countries through their participation in various international organizations and movements. China has been a leader in the Non-Aligned Movement, which promotes the political and economic independence of Third World countries. India has also been active in the Non-Aligned Movement, and has also played a key role in the formation of the Group of 77, a coalition of developing countries that works to promote their collective economic interests. Both countries have also provided economic and military assistance to Third World countries or global north and have used their own experiences of development to serve as models for other nations.
Both countries have also played a significant role in altering the relationship between countries of the global south and their counterparts in the global north, as well as between communist and capitalist blocs.
China’s emergence as a major economic power and its strong emphasis on self-reliance and economic development have encouraged other Third World countries to pursue similar paths. China’s success in lifting hundreds of millions of people out of poverty and its ability to maintain high economic growth rates despite being a communist country have challenged the idea that capitalism is the only path to prosperity.
India’s own democratic and capitalist system provided an alternative model to the Soviet-style socialism that was promoted by many Third World countries.
Both countries have also changed the relationship between Third World countries and industrial countries by challenging the idea that developed countries should dictate the economic and political policies of developing countries. They have advocated for greater representation and decision-making power for Third World countries in international organizations and have called for more equitable economic relationships between developed and developing nations.
Overall, China and India have played a significant role in challenging traditional power dynamics and promoting greater autonomy and representation for Third World countries in international affairs.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and Indicators for measuring development and under development.
Answer
The United Nations uses several criteria and indicators to measure development and underdevelopment. These include:
Gross Domestic Product (GDP): GDP is the most widely used indicator of economic development. It measures the value of all goods and services produced within a country in a given period of time.
Human Development Index (HDI): HDI measures a country’s overall development by taking into account three key components: life expectancy, education, and per capita income.
Gender Development Index (GDI): GDI measures gender-based inequalities in the same three key components of HDI: life expectancy, education, and per capita income.
Multidimensional Poverty Index (MPI): MPI is a measure of poverty that takes into account multiple dimensions of poverty, including health, education, and living standards.
Gini coefficient: The Gini coefficient measures income inequality within a country. A Gini coefficient of 0 indicates perfect equality, while a coefficient of 1 indicates perfect inequality.
Education Index: Education Index is an indicator of the level of education in a country, based on the adult literacy rate and the combined primary, secondary and tertiary gross enrollment ratio.
Life expectancy at birth: Life expectancy at birth measures the average number of years a person can expect to live in a given country.
Employment rate: Employment rate measures the percentage of the population that is employed.
Poverty rate: Poverty rate measures the percentage of the population living below the poverty line.
The World Bank uses several criteria and indicators to measure development and underdevelopment. These include:
Gross National Income (GNI) per capita: GNI per capita is a measure of a country’s economic development, calculated by dividing the country’s total GNI by its population.
Poverty rate: Poverty rate measures the percentage of the population living below the poverty line.
Access to basic services: The World Bank measures access to basic services, such as education, healthcare, and clean water, as an indicator of development.
Gender Development Index (GDI): GDI measures gender-based inequalities in the same three key components of HDI: life expectancy, education, and per capita income.
Human Capital Index (HCI): HCI measures the productivity of a country’s population by taking into account factors such as education, health, and labor force participation.
Ease of Doing Business Index (EODB): EODB measures the ease of doing business in a country by taking into account factors such as the time and cost of starting a business, access to credit, and the ease of paying taxes.
Investment Climate Assessment (ICA): ICA measures the investment climate of a country by assessing the ease of doing business, the quality of infrastructure, and the effectiveness of governance.
Logistics Performance Index (LPI): LPI measures the efficiency of a country’s logistics network by taking into account factors such as customs clearance times, the quality of transport infrastructure, and the reliability of logistics services.
Business Environment and Enterprise Performance Survey (BEEPS): BEEPS is a survey that measures the business environment and enterprise performance in a country by assessing the perceptions of firms on various business environment variables such as access to finance, corruption, and labor regulations.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Answer
Developing countries often have lower levels of economic development and infrastructure, lower per capita income, and higher poverty rates compared to developed countries. They also tend to have less developed industrial bases, less access to technology, and less educated populations. Additionally, many developing countries have higher rates of disease and lower life expectancies. Political instability and corruption may also be more prevalent in developing countries.
Developing countries, also known as less developed countries or emerging economies, typically have lower levels of economic development and standard of living compared to developed countries. Some common characteristics of developing countries include:
High poverty rates: this is caused by high rate of unemployment, all the factors of production are idle and production is low causing a manufacturer to produce less there by rendering some production factors idle.
Dependence on agriculture and natural resources: developing nations relies on subsistence agriculture production, whereby they produce for their personal consumption and any left over from their produce is been sold to the members of their village or neighboring villages.
Limited access to education, healthcare, and basic infrastructure: most developing countries live in rural areas where there is limited access to basic amenities and the structures available in such areas are depleted.
High population growth and urbanization: developing countries are experiencing increasing population growth without an increasing in production in rural areas making people to live the rural areas in search of green pastures.
Limited industrialization and technological development
Political and economic instability: developing countries are facing on stable governance and economic instability, because they population is growing at a geometric rate while the food supply is growing at an arithmetic rate, and with this many people are not working prices of goods are constantly rising leading to inflation or sometimes the countries experience recession.
High external debt: the government of developing nations tends to borrow too much from international organization or from developed countries by so doing the external debts increases.
Greater vulnerability to natural disasters and climate change: developing nations are at greater risks of experiencing natural disasters because we lack technologies and technical know how on how to manage our environment. Using oil mining in Nigeria as a case study, areas around bayelsa were oil is gotten from are at great risks of experiencing disasters and are currently facing some environment hazard.
Low per capital income
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
Answer
I agree to the above statement that says “poverty has the face of a woman. Over the years poverty disproportionately affects women and girl child in many ways, due to some cultural biases on the female child, Educational level and societal opinion about what a female should and should not do. To back my claims here are some examples of how poverty has the face of a woman:
Lack of education: Women and girls in poverty-stricken areas often lack access to education and are more likely to be illiterate. This limits their economic opportunities and perpetuates the cycle of poverty.
Income inequality: Women are often paid less than men for the same work, and they are more likely to be in low-paying, informal jobs with little job security or social protections.
Health disparities: Women living in poverty are at a greater risk of poor health due to lack of access to healthcare, nutritious food, and adequate sanitation.
Increased burden of care: Women in poverty are often responsible for caring for children and other dependents, which can make it harder for them to find and keep jobs, and limits their ability to earn income.
Greater vulnerability to violence: Women living in poverty are more likely to experience gender-based violence and have less access to legal and social support services.
Limited participation in decision-making: Women living in poverty are often marginalized in their communities and lack the power to make decisions about their own lives and the lives of their families.
Cultural biases: in some societies women are treated as lower class people, they are not allowed to attain a level of education, they are viewd as baby making machines for the men, they are not involved in decision making process or even allowed to carry out any innovative activities, by so doing some talents possessed by the female child is killed and this automatically creates a population of dependent women.
All these factors contribute to the fact that women are more likely to live in poverty, and poverty disproportionately affects women and girls.
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. The Bandung conference in 1955 was the beginning of the political emergency of the third world.
Forty years later, under communist structure, China has surged to being one of the largest economies in the world, second only to the United States. The gap between the U.S. and China is still substantial, with China’s gross domestic product at only 70 percent of the United States.The fact is that the status of China, by any measure, has bred a wealth equal to the best in the world, and a poverty equal to the worst. Since China began to open up and reform its economy in 1978, GDP growth has averaged over 9 percent a year, and there have been significant improvements in access to health, education, and other services over the same period.( From the report of world Bank in China)China is now an upper and middle income country.
The economy of India has transitioned from a mixed planned economy to a mixed middle income developing social market economy with the state participating in strategic sectors.It is the world’s fifth largest economy by nominal GDP and the third largest by purchasing power parity (PPP). According to the International Monetary Fund (IMF), on a per capita income basis, India ranked 142nd by GDP (nominal) and 125th by GDP (PPP). From being colonized by the British, India now rule the United Kingdom as the new British prime minister, Rishi Sunak, is the first British prime minister of Asian origin. Sunak is the son of Indian immigrants who came to the UK from pre-colonial Kenya and Tanzania. ( News from Africnews.com)
2. Other criteria and indicators for measuring development and underdevelopment by world Bank other institutions.
i. The level of Agricultural and rural development.
ii. Education
iii. Economic policy and External Debt
iv. Infrastructure
v. Human development
3. Characteristics of developing countries.
i.Vulnerability to both external and internal attack. Developing countries are vulnerable to attacks either physically or emotionally. They usually lack security expertise in tackling the insecurities.
ii. Highly dependent: They depend so much on importation of goods and export primary products as they are not well industrialised.
iii. Low levels of living. Their standard of living is very poor compare to the developed countries. Most of them live below the minimum wage of their country with nothing to show off.
iv. Low levels of productivity. They don’t produce in large scale as they still practice subsistence production. Most citizens are farmers and they only farm on a small piece of land while they consume much out of the little they cultivated, they sell the little remaining to get other things essential for living and as such the rate of productivity is low.
V. High and rising levels of unemployment and underemployment. In developing countries like Nigeria for example, the citizens who have academic qualifications tends to be underemployed. They work in sectors which is not their areas of specialization while most of them are not employed as they are waiting for the government of their country to provide job for them as they can not create or have no capital to create jobs.
4. Poverty has a face of a woman. Women in the society are usually not trained or educated to contribute to the economy of the country. They are usually seen as those whose place are in the kitchen of her husband and taking care of the children. They are not seen as those capable of contributing to the growth of the economy and as such they live in poverty when the bread winner of the home dies. They contribute to the 80% of environmental pollution and are most vulnerable to it as they lack the basic information of preventing such.
1)China and India, as two of the largest developing countries in the world, have played a significant role in promoting the political emergence of other developing nations, also known as the “Third World.” Their differing social and economic systems, with China being a communist country and India being a democratic country with a mixed economy, have influenced the way they have interacted with and impacted other developing nations.
China, as a communist country, has provided economic and military aid to other developing nations, often with the goal of spreading its ideology and building alliances. It has also been involved in infrastructure projects and economic development in many African and Latin American countries.
India, on the other hand, has focused more on providing technical assistance and promoting economic cooperation with other developing nations. It has also played a major role in the Non-Aligned Movement, which sought to promote the political and economic independence of developing nations.
Both China and India have also been involved in efforts to change the relationship between developing nations and industrial nations. They have been vocal in calling for a more equitable distribution of power and resources in the global system and have worked to build alternative institutions and forums for developing nations to come together and assert their interests.
In summary, China and India have played important roles in promoting the political emergence of other developing nations, and in changing the relationship between these nations and the more industrialized countries through their different ideologies and approach to diplomacy and economic development.
2) Traditionally, developing countries have been defined according to their Gross National Income (GNI) per capita per year. However, as the understanding of development and underdevelopment has evolved, other criteria and indicators have been developed by the United Nations, the World Bank, and other Bretton Woods institutions.
The United Nations Development Programme (UNDP) has developed the Human Development Index (HDI), which measures a country’s development based on three dimensions: health, education, and standard of living. The HDI takes into account not only a country’s economic performance, but also the well-being of its citizens.
The World Bank has developed the Multidimensional Poverty Index (MPI), which measures poverty based on multiple dimensions, including health, education, living standards, and access to basic services.
The World Economic Forum (WEF) uses the Global Competitiveness Index (GCI) which is a comprehensive measure of a country’s economic performance and ability to attract and retain business.
Additionally, the International Monetary Fund (IMF) uses the Balance of Payment (BOP) as a way to measure a country’s economic performance.
In conclusion, the GNI per capita is still widely used as a criterion for determining a country’s level of development, but other criteria and indicators have been developed in order to take into account other dimensions of development and well-being, such as health, education, standard of living and economic performance. These other criteria and indicators provide a more nuanced and comprehensive understanding of a country’s development status.
3)Developing nations, also known as less developed countries (LDCs), share a number of common characteristics. Some of the most notable include:
(i)Low per capita income: Developing nations tend to have lower average incomes compared to developed nations. This can result in high levels of poverty and a lack of access to basic necessities such as food, shelter, and healthcare.
(ii)High population growth: Developing nations often have high population growth rates, which can strain resources and make it difficult to improve living standards.
(iii)Dependence on agriculture: Many developing nations rely heavily on agriculture as a primary source of income and employment. This can lead to issues such as land degradation and overuse of resources.
(iv)Limited industrialization: Developing nations tend to have less developed industrial sectors compared to developed nations. This can make it difficult for these countries to diversify their economies and create well-paying jobs.
(v)Low levels of education: Developing nations often have lower levels of education compared to developed nations. This can make it difficult for individuals to access good jobs and make it difficult for the country to develop a skilled workforce.
(vi)Poor infrastructure: Developing nations often have poor infrastructure, such as inadequate transportation systems and limited access to clean water and sanitation.
(vii)High levels of inequality: Developing nations tend to have higher levels of income and wealth inequality compared to developed nations.
(viii)Political instability: Developing nations often struggle with political instability, which can make it difficult for the government to implement policies that promote economic growth and improve living standards.
(4)Yes
The reasons are as follows:
Women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty.
Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income-earning opportunities.
Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty.
Nwankwo Faith Obiageli
2029/244721
Economics
ANSWERS
1. The First World has been anticipating with a great enthusiasm to see geopolitical tensions between China and India. On the one hand, the United States has been wittingly trying to control the Indian Ocean. On the other, the diplomatic and trade ties between China and India are lopsided. Boycotting Chinese goods by India certainly enlarged the tensions not only between these Asian powers but also among the Third World states and most importantly in South Asia region. The People’s Republic of China, which is being considered as superpower of Asia must stop diplomatic rivalry with its neighbor and decades long diplomatic partner, India. The Republic of India, which is also being considered as one of the largest economies outside the west, has to stop its rivalry with China to safeguard non- western economic interests. As world observing, there has been frontier dispute going on between these two non- western largest political and economic powers for a last couple of years. According to customary International law, as far as any territorial dispute is concerned, every state has the right to protect its national borders without any external legal oppression. In this regard, as far as China is concerned, it has its primary responsibility to protect its national borders. On the other, India has also unequivocal responsibility to protect its national borders under the Law of Nations. Since the end of the Second World War, these two former British colonies have strived tremendously for becoming economically self- dependent nations. But in those attempts, China has accelerated its industrialization in the period of Den Xiaoping and turned as a manufacturing hub of the world, while India has only become as largest importer of goods, however it got reached to the peak stage of International economic order that could slightly influence International legal order. The main contention of this piece lies in examining why India and China should stand together as a common force. Let me now turn towards the main argument of this writing. The leader of the Third World China has to strive to become success in three essential goals with the collaboration of India. The first essential goal is to mobilize non- western nations to fight for decolonization of west made International law. The second essential goal is to fight for new global economic order, which can make Third World rich. And the third one that what China must do is to promote industrial growth in Third World nations.As I have mentioned above, economic needs of a country decide the way of a country where to go in International arena. To say in simple terms, economics dictates politics while politics dictates law. So, to achieve new International legal order, should develop economic capability of the Third World. As I have said before, the leader of the Third World China and one of the largest economies of the world India both must put an end to frontier disputes and initiate a campaign for three essential goals that I have already mentioned. The first and primary essential goal is to mobilize non- western nations to fight for decolonization of west made International law. China and India both alone would never achieve this great achievement. All non- western nations are required to be mobilized to work for decolonization through reformation of the Security Council. The second primary agenda is to fight for new Global Economic Order, which protects the natural rights of states like sovereignty over all their natural resources. The final and concluding agenda is to encourage industrial growth in Third World states, which would decrease the dependency of states with each other.
2. The most common metric used to determine if an economy is developed or developing is per capita gross domestic product (GDP), although no strict level exists for an economy to be considered either developing or developed.
-For countries that are difficult to categorize, economists turn to other factors to determine development status. Standard of living measures, such as the infant mortality rate and life expectancy, are useful although there are no set boundaries for these measures either. However, most developed economies suffer fewer than 10 infant deaths per 1,000 live births, and their citizens live to be 75 or older on average.
-The Human Development Index :The UN’s Human Development Index (HDI) looks at three standards of living criteria—literacy rates, access to education, and access to health care—and quantifies this data into a standardized figure between zero and one. Most developed countries have HDI figures above 0.8.
– The Human Poverty index(HPI) : it measures deprivations using percentage f people expected to die before age 40, percentage of underweight children under age 5, percentage of people without access to health services and safe water.
.3. Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio- political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
– Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
– Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio- economic participation and access apart from low per capita income.
– Rapid Population Growth :Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children.
4. It’s true that poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibility to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and fierce figure who you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elderly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equally footing. There is more women population in the world than man so when doing research is easier to sample women . As much as it’s known that a man is a provider , a woman has to be the one that provides for the kids in the interim while the man goes to “hunt”.The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
September 1999, No.45
Select the year published
1999
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MThe “Three Reforms” in China: Progress and Outlook
Sakura Institute of Research, Inc.
Shigeo Kobayashi, Jia Baobo and Junya Sano
Introduction
1. The Chinese Economy since the Start of the Reform and Open-door Policy
The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.
The obvious aim of this policy shift was to rebuild its economy and society that were devastated by the Cultural Revolution. The policy shift also appears to have been prompted by recognition that the incomes of ordinary Chinese were so low, in comparison with incomes in other Asian economies, that the future of the Chinese state and the communist regime would be in jeopardy unless something was done to raise living standards of its people through economic growth.
The government subsequently established a number of areas for foreign investment, including the special economic zones, open coastal cities, the economic and technology development zones, the delta open zones, the peninsula open zones, the open border citiees, and the high-tech industry development zones. The establishment of these zones provided the trigger for massive inflows of foreign investment, primarily from companies in Hong Kong and Taiwan. At the same time, China promoted its socialist market economy concept. The changes brought an entrepreneurial boom that resulted in the emergence of huge numbers of entrepreneurs and venture businesses within China.
Inflows of foreign capital, technology, and management knowhow enabled China to turn its vast labor resources and space to rapid economic growth. The shift to an open-door economic policy ushered in a period of high economic growth in the first half of the 1980s. The economy stagnated around the time of the Tiananmen Square Incident in 1989, but in the first half of the 1990s, China was again boasting high growth rates. Rapid economic growth was accompanied by a rise in per capita GDP (Fig. 1). In 1998, per capita income, though still only about US$770, was 14 times higher than in 1980. Therefore, it seems reasonable to conclude that Deng Xiaoping’s first goal, which was to improve the economic status of the people, has been accomplished.
2. Emerging Conficts
The positive consequences of the reform and open-door policy have been economic development and rising national incomes. Naturally, there have also been negative effects, and these have become increasingly obvious over the years. The problems outlined below are closely linked to the living standards of people in China.
First, there is now regional disparities in income levels, and the gap between rich and poor is now extremely wide. Under the socialist controlled economy, living standards were relatively low, but there was no big gap between rich and poor. The idea, taken from the writings of Mencius, that inequality is more lamentable than poverty, has applied throughout society. With the shift to the open-door policy, however, Deng Xiaoping indicated that it was acceptable for some regions to become wealthy before others. The result was a huge wealth disparity between coastal and inland regions, and between the cities and rural areas. Fig. 2 shows the per capita annual incomes of urban households in municipalities and provinces where incomes are relatively high, and those of peasant households in relatively poor provinces. Incomes in Guangdong Province are about eight times higher than incomes in Gansu Province.
(2)The IMF and the World Bank have
responsibility respectively for exchange rate and currency stability,
and reconstruction and development. The post-war agenda of exchange rate stability and reconstruction
has been broadened to assist members with their efforts to achieve monetary and financial stability,
create sustainable economic growth to reduce poverty, and enhance development; focusing on their
capacity to improve the domestic infrastructure that is necessary in most cases to deal with the prescribed
assistance the institutions provide.
The responsibilities of the two are distinguishable by the period over which they assist their members.
The IMF’s assistance has tended to be on a short-term basis, focusing on macro-economic matters;
whereas the World Bank has concentrated on long-term development projects that focus on the micro-
economic side. In the pursuit of these interdependent goals a considerable level of cooperation between
the two institutions has evolved, notwithstanding an inevitable degree of tension on occasion when their
policies seem to conflict with one another; this occurred especially during the 1990s and the financial
crises experienced by a number of countries.
This has resulted in more formal coordination over the years to deal with such matters, although both still
concentrate on their ‘core asks’. Gilbert et al propose the core foci as ‘the Fund on macro-economic and
crisis resolution and macro-policy advice; and the Bank on longer-term development—including micro-
economics and trade and industry issues—and poverty reduction’. This move from the traditional remits of
responsibility is evidence of a growing influence of the two in the arena of a country’s domestic policy; this
is achieved through the conditions attached to their financial and technical assistance when domestic
policies and legal and regulatory infrastructure are not sufficient to prevent or manage a crisis.
The evolving role of the IMF and World Bank
The responsibilities and functions of the IMF centre on its key purpose: to deal with ‘international
monetary problems’ by acting as the forum for its members to ‘consult’ and ‘collaborate’ with it so as to
‘facilitate’ and ‘promote’ ‘international monetary co-operation’, ‘growth of international trade’ and
‘exchange rate stability’ to achieve financial and economic stability. The IMF seeks to achieve these broad
purposes through its core functions: surveillance, financial assistance and technical assistance to ensure
its members continuously adhere to its underlying purposes.
The traditional objective of surveillance is ensuring orderly exchange arrangements’ among members.
The IMF, in ‘consultation’ with its members by both bilateral and multilateral means, assesses individual
members’ economic and monetary policies against its purposes to ascertain whether they pose a risk to
the stability of the international monetary system. It seeks to provide financial assistance to members
experiencing balance of payment problems, on the basis that the individual member complies with the
conditions set for such assistance so the IMF can be assured the money will be repaid.
This invariably requires the member country to adjust its economic and monetary policies, giving rise to a
considerable level of coercive and unfettered leverage by the IMF to ensure changes are indeed made.
The final function of the IMF is to provide technical assistance to its members, but without the same
degree of compulsion as is attached to the other activities. Conditionality which generally refers to the
designated policy and procedures attached to the assistance the IMF provides ensures to a certain extent
the objectives of the assistance is achieved. It has, in many respects, generated a considerable level of
controversy in light of the expansion of its policy remit to include matters at a micro level such as
infrastructural reform. As Lastra notes the rationale for this expansion was the fact that the crisis stricken
countries discussed above exposed considerable problems in this area thus exacerbating the financial.
3) The common Characteristics of Developing countries.
1,The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan. According to these estimates for the year 1995, per capita income was $340 in India, $ 620 in China, $240 in Bangladesh, $ 700 in Sri Lanka. As against these, for the year 1995 per capita income was $ 26,980 in USA, $ 23,750 in Sweden, $ 39,640 in Japan and 40,630 in Switzerland.
2) Characteristic # 2. Excessive Dependence on Agriculture:
A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
In the present-day developed countries, the modern industrial
3) Characteristic # 3. Low Level of Capital Formation:
The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
Since then there has been substantial increase in the rate of saving and investment in the developing.
4. The statemenrt,Poverty has the face of a Woman,is wrong it’s not true.thoe there are some reasons why people say or believe that “Poverty has the face of a Woman”.
reasons like gender inequality,Women being a house wife,women taking burdens the to an extent women are not permitted to go to school.
Poverty could be caused by other factors but not oviouslying by Women.
and I strongly disagree with the statement, that poverty has the face of a woman.
thank you Mr President..
NAME: DIKE JOHN CHUKWUDOZIE
REG NO: 2018/241837
DEPARTMENT: ECONOMICS
(1) The term third world countries was used in the 1955 Afro-Asian conference,held in Bandung, Indonesia. This conference marked the biginning of the political emergence of the third world countries. Two countries( China and India) with different social and economic systems played a major role in actualising this.
As a result of decolonization,most colonized countries became a sovereign state. European and North American domination,underdevelopment,rapid demographic growth etc. and they were called as the ‘Third World‘.The term ‘ThirdWorld’ referred to the one-third of the superpowers i.e.the United States and the Soviet Union.Third World,not a homogenous group,has different political system and level of economic development.TheThird World countries are also called developing countries because they are facing the economic,social and political problems like poverty,starvation,illiteracy and ethnic conflicts. This countries have opposed imperialism, colonialism, foreign intervention and have supported peaceful co-existence. Since they all have similar challenges and aspirations formed and called themselves a non- alignment countries. Non- alignment here means not belonging to any of the two world powers or Bloc(America and Russia)
(2)The set of indices developed by UN and other global agencies on how to measure development includes:
(i) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:
(a) Life expectancy
(b) Educational attainment and
(c) Adjusted real income
The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of many African countries for example. Countries like USA,France,South Korea etc are examples of countries with high HDI.
(ii) UN’s Human Poverty Index (HPI): This index measures deprivation using % of people expected to die before age 40, % of of illiterate adults, % of people without access to health services and safe water and the % of underweight children under five.
Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due yto lack of education etc.
Norway formally was regarded as country with low HPI,but currently, Switzerland which was formerly second in the ranking is now dominating as the country with the lowest HPI.
Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered undeveloped.
According to World Bank, countries with a GNI of 11,905 US dollar and less are developing (specified by the World Bank,2015) and 12,275 US dollar (World Bank,2019)
(3) The following are the common charecteristics of Developing Nation:
(i) Low level of living: in almost all the developing countries, the populace of the country is faced with low level of living, as they are poor and unable to adequately provide there basic necessities of life.
(ii) Low Level of Productivity: One common feature that most developed countries posses, that developing countries does not posses is Economic growth which is measured based on a countries productive ability. In developing countries,resources are under utilized and this gives rise to low level of productivity. Even though developing countries Economy is Agrarian, the output from agricultural activities is still low due to employing local methods of agriculture.
(iii) High rate of Population growth and dependency burdens: Developing countries are mostly characterised by an incessant increase in their population. Not just that,the rate of the dependent population also rises due to increase in population without a corresponding increase in employment, production level etc.
(iv) High and rising level of Unemployment and Under employment: Due to low level of productivity, there is inadequate employment for the working population,hence this gives rise to high and rising level of Unemployment. The unavailability of jobs also renders most skilled labours in the country to venture into any job that comes there way,even though the job underscores his potential,in the bid to survive.
(v) Traditional,Rural social Structures: Developing nations are also characterised by Traditional,Rural Social Structures. Rural institutions and traditional settings are common found in the society.
(vi) Widespread of poverty: Poverty as a term is the inability of people to provide there daily necessity of food,shelter and clothing. The majority of people any developing countries are poor,just few are rich which gives rise to inequality.
(vii) Prevalence of Imperfect market: Due to low level of production,there are little or no producers of goods and services needed by the consumers in the developing countries. The little producers available hence increase the price outrageously in order to make excessive profit at the expense of the consumer. The producers are able to do this because there is no adequate competition in the market for the goods they are producing. This is a clear example of an imperfect market.
(viii) Substantial dependence on agricultural products and primary products export: Like earlier explained, developing nations are Agrarian in nature. They produce agricultural produce(primary products) such as cocoa, Kolanut, timber,cotton, palm kernel etc and export to foreign countries. The export of agricultural products for example amounted greatly in the GDP of Nigeria prior to the discovery and exploration of crude oil.
(ix) Dependence and Vulnerability: The societies of developing countries are faced with exposure to insecurity which limits the freedom of man. This is common in developing countries.
(x) Distorted Economics devoted to producing primary products for the developed world and to provide Market for their finished goods: Developing countries mostly produce primary products which they export to developed world as raw materials for there companies. The developed countries also exports the finished goods produced back to the developing countries for consumption. By so doing,the developing countries provides market for the developed countries finished goods.
(4) I agree with the argument ‘ Poverty has the face of a woman’. My reasons for agreeing to the argument are:
Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
NAME: EKE EJIEKE KALU
REG NO:2019/244150
DEPARTMENT: ECONOMICS
The term third world countries was used in the 1955 Afro-Asian conference,held in Bandung, Indonesia. This conference marked the biginning of the political emergence of the third world countries. Two countries( China and India) with different social and economic systems played a major role in actualising this.
As a result of decolonization,most colonized countries became a sovereign state. These countries had the same historical background through European and North American domination,underdevelopment,rapid demographic growth etc. and they were called as the ‘Third World‘.The term ‘Third World’ referred to the one-third of the superpowers i.e.the United States and the Soviet Union.Third World,not a homogenous or similar group,has different political system and level of economic development. The Third World countries are also called developing countries because they are facing the economic,social and political problems like poverty,starvation,illiteracy and ethnic conflicts. This countries have opposed imperialism, colonialism, foreign intervention and have supported peaceful coexistence. Since they all have similar challenges and aspirations formed and called themselves a non- alignment countries. Non- alignment here means not belonging to any of the two world powers or Bloc(America and Russia)
(2)The set of indices developed by UN and other global agencies on how to measure development includes:
(i) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:
(a) Life expectancy
(b) Educational attainment and
(c) Adjusted real income
The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of many African countries for example. Countries like USA,France,South Korea etc are examples of countries with high HDI.
(ii) UN’s Human Poverty Index (HPI): This index measures deprivation using % of people expected to die before age 40, % of of illiterate adults, % of people without access to health services and safe water and the % of underweight children under five.
Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due to lack of education etc.
Norway formally was regarded as country with low HPI,but currently, Switzerland which was formerly second in the ranking is now dominating as the country with the lowest HPI.
Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered under developed.
According to World Bank, countries with a GNI of 11,905 US dollar and less are developing (specified by the World Bank,2015) and 12,275 US dollar (World Bank,2019)
(3) The following are the common characteristics of Developing Nation:
(i) Low level of living: in almost all the developing countries, the majority of the population of the country is faced with low level of living, as they are poor and unable to adequately provide there basic necessities of life.
(ii) Low Level of Productivity: One common feature that most developed countries posses, that developing countries does not posses is Economic growth which is measured based on a countries productive ability. In developing countries,resources are under utilized and this gives rise to low level of productivity.
(iii) High rate of Population growth and dependency burdens: Developing countries are mostly characterised by a continuous increase in their population. Not just that,the rate of the dependent population also rises due to increase in population without a corresponding increase in employment, production level etc.
(iv) High and rising level of Unemployment and Under employment: Due to low level of productivity, there is inadequate employment for the working population,hence this gives rise to high and rising level of Unemployment. The unavailability of jobs also renders most skilled labours in the country useless,hence leaving them with no choice but to venture into any job that comes there way,even though the job underscores his potential,in the bid to survive.
(v) Traditional,Rural social Structures: Developing nations are also characterised by Traditional,Rural Social Structures. Rural institutions and traditional settings are commonly found in the developing countries society.
(vi) Widespread of poverty: Poverty as a term is the inability of people to provide there daily necessity of food,shelter and clothing. The majority of people in any developing countries are poor,just few are rich which gives rise to inequality.
(vii) Prevalence of Imperfect market: Due to low level of production,there are little or no producers of goods and services needed by the consumers in the developing countries. The little producers available hence increase the price of their goods outrageously in order to make excessive profit at the expense of the consumer. This is a clear example of an imperfect market.
(viii) Substantial dependence on agricultural products and primary products export:
Developing nations are Agrarian in nature. They produce agricultural produce(primary products) such as cocoa, Kolanut, timber,cotton, palm kernel etc and export to foreign countries. The export of agricultural products for example amounted greatly in the GDP of Nigeria prior to the discovery and exploration of crude oil in Nigeria
(ix) Dependence and Vulnerability: The societies of developing countries are faced with exposure to insecurity which limits the freedom of man. This is common in developing countries.
(x) Distorted Economics devoted to producing primary products for the developed world and to provide Market for their finished goods: Developing countries mostly produce primary products which they export to developed world as raw materials for there companies. The developed countries also exports the finished goods produced back to the developing countries for consumption. By so doing,the developing countries provides market for the developed countries finished goods.
(4) I agree with the argument ‘ Poverty has the face of a woman’. My reasons for agreeing to the argument are:
Women face the triple burden of child bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender based violence is a daily reality for many.
, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they are not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
Name: Oleh chimamanda orieoma
Reg No:2019/244935
Department: Eco/phil
DEVELOPING COUNTRIES ISSUES
Two nations whose social and economic systems were sharply opposed; China and India. They played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
The term “Third World” arose during the Cold War to define countries that remained non-aligned with either NATO or the Warsaw Pact. The United States, Canada, Japan, South Korea, Western European nations and their allies represented the “First World”, while the Soviet Union, China, Cuba, North Korea, Vietnam and their allies represented the “Second World”. This terminology provided a way of broadly categorizing the nations of the Earth into three groups based on political divisions. Strictly speaking, “Third World” was a political, rather than an economic, grouping. Since the dissolution of the Soviet Union and the end of the Cold War, the term Third World has decreased in use.
Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and underdevelopment.
Founded at the Bretton Woods conference in 1944, the two institutions have complementary missions. The World Bank Group works with developing countries to reduce poverty and increase shared prosperity, while the International Monetary Fund serves to stabilize the international monetary system and acts as a monitor of the world’s currencies. The World Bank Group provides financing, policy advice, and technical assistance to governments, and also focuses on strengthening the private sector in developing countries. The IMF keeps track of the economy globally and in member countries, lends to countries with balance of payments difficulties, and gives practical help to members. Countries must first join the IMF to be eligible to join the World Bank Group; today, each institution has 189 member countries.
The World Bank:
The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development.
Together, IBRD and IDA form the World Bank, which provides financing, policy advice, and technical assistance to governments of developing countries. IDA focuses on the world’s poorest countries, while IBRD assists middle income and creditworthy poorer countries. IFC, MIGA, and ICSID focus on strengthening the private sector in developing countries. Through these institutions, the World Bank Group provides financing, technical assistance, political risk insurance, and settlement of disputes to private enterprises, including financial institutions.
The International Monetary Fund:
The IMF works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
The IMF’s primary purpose is to ensure the stability of the international monetary system, the system of exchange rates and international payments that enables countries and their citizens to transact with each other. It does so by keeping track of the global economy and the economies of member countries, lending to countries with balance of payments difficulties, and giving practical help to members.
CHARACTERISTICS OF A DEVELOPING NATION
Low Per Capita Real Income:
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty:
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth:
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment:
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture:
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness:
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy:
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures:
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity:
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving:
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
It has been argued that poverty has the face of a woman. I don’t think that one should put a face to the world’s disease called poverty. Some people may argue about this due to fact that women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men. Women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.
1. The Chinese Economy since the Start of the Reform and Open-door Policy;
The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.
The obvious aim of this policy shift was to rebuild its economy and society that were devastated by the Cultural Revolution. The policy shift also appears to have been prompted by recognition that the incomes of ordinary Chinese were so low, in comparison with incomes in other Asian economies, that the future of the Chinese state and the communist regime would be in jeopardy unless something was done to raise living standards of its people through economic growth.
The government subsequently established a number of areas for foreign investment, including the special economic zones, open coastal cities, the economic and technology development zones, the delta open zones, the peninsula open zones, the open border cities, and the high-tech industry development zones. The establishment of these zones provided the trigger for massive inflows of foreign investment, primarily from companies in Hong Kong and Taiwan. At the same time, China promoted its socialist market economy concept. The changes brought an entrepreneurial boom that resulted in the emergence of huge numbers of entrepreneurs and venture businesses within China.
Inflows of foreign capital, technology, and management knowhow enabled China to turn its vast labor resources and space to rapid economic growth. The shift to an open-door economic policy ushered in a period of high economic growth in the first half of the 1980s. The economy stagnated around the time of the Tiananmen Square Incident in 1989, but in the first half of the 1990s, China was again boasting high growth rates. Rapid economic growth was accompanied by a rise in per capita GDP In 1998, per capita income, though still only about US$770, was 14 times higher than in 1980. Therefore, it seems reasonable to conclude that Deng Xiaoping’s first goal, which was to improve the economic status of the people, has been accomplished.
The idea of the Third World, which is usually traced to the late 1940s or early 1950s, was increasingly used to try and generate unity and support among an emergent group of nation-states whose governments were reluctant to take sides in the Cold War. These leaders and governments sought to displace the ‘East-West’ conflict with the ‘North-South’ conflict. The rise of Third Worldism in the 1950s and 1960s was closely connected to a range of national liberation projects and specific forms of regionalism in the erstwhile colonies of Asia and Africa, as well as the former mandates and new nation-states of the Middle East, and the ‘older’ nation-states of Latin America. Exponents of Third Worldism in this period linked it to national liberation and various forms of Pan-Asianism, Pan-Arabism, Pan-Africanism and Pan-Americanism. The weakening or demise of the first generation of Third Worldist regimes in the 1960s and 1970s coincided with or was followed by the emergence of a second generation of Third Worldist regimes that articulated a more radical, explicitly socialist, vision. A moderate form of Third Worldism also became significant at the United Nations in the 1970s: it was centred on the call for a New International Economic Order (NIEO). By the 1980s, however, Third Worldism had entered into a period of dramatic decline. With the end of the Cold War, some movements, governments and commentators have sought to reorient and revitalize the idea of a Third World, while others have argued that it has lost its relevance. This introductory article provides a critical overview of the history of Third Worldism, while clarifying both its constraints and its appeal. As a world-historical movement, Third Worldism (in both its first and second generation modalities) emerged out of the activities and ideas of anti-colonial nationalists and their efforts to mesh highly romanticized interpretations of pre-colonial traditions and cultures with the utopianism embodied by Marxism and socialism specifically, and ‘Western’ visions of modernisation and development more generally. Apart from the problems associated with combining these different strands, Third Worldism also went into decline because of the contradictions inherent in the process of decolonization and in the new international politico-economic order, in the context of the changing character, and eventual end, of the global political economy of the Cold War.
2. Gross National Income (GNI) is the total amount of money earned by a nation’s people and businesses. It is used to measure and track a nation’s wealth from year to year. The number includes the nation’s gross domestic product (GDP) plus the income it receives from overseas sources.
The more widely known term GDP is an estimate of the total value of all goods and services produced within a nation for a set period, usually a year. GNI is an alternative to gross domestic product (GDP) as a means of measuring and tracking a nation’s wealth and is considered a more accurate indicator for some nations. The U.S. Bureau of Economic Affairs (BEA) tracks the GDP to measure the health of the U.S. economy from year to year. The two numbers are not significantly different. Finally, there’s gross national product (GNP), which is a broad measure of all economic activity.
The idea of establishing international financial organizations to regulate global economic development came as a response to growing problems in the years between the two world wars of the twentieth century. At first, bankers were the main actors rather than governments who, following a liberal ethos, initially tried to avoid direct intervention in explicitly financial international affairs. Far more aware of the effects of national interest rates, for example, in attracting or repelling capital, bankers advocated some kind of international cooperation. For example, the German reparation payments, made under the Dawes Plan of 1924, were negotiated by the chairmen of the boards of the New York Federal Reserve Bank and the Bank of England. There was an international organization in place – the League of Nations – but it remained primarily a ‘political’ organization. However, it maintained an Economic and Financial Organization, and it sponsored a series of international conferences in various European cities between 1920 and 1933. In these initial moves we can see the beginnings of the idea that international financial organizations should regulate global development.
In the mid-1920s, the League of Nations helped arrange loans to stabilize the economies of several European countries. An international economic conference, convened by the League at Geneva in 1927, and attended by several nonmember countries, such as the US and the Soviet Union, came up with a series of resolutions dealing with trade, cartels, and other issues that were thought to constitute an international code of behavior in policy matters. Discussion of a Bank for International Settlements (BIS) took place in 1930. And since then, regular meetings have been held in Basel, Switzerland, among central bank governors and experts from other financial agencies. The BIS conducts its own research in financial and monetary economics and collects, compiles, and disseminates economic and financial statistics, supports the IMF and World Bank, performs traditional banking functions for national central banks (e.g., gold and foreign exchange transactions), as well as trustee and agency functions. The main international financial institutions, however, were formed by governments through the 1944 Bretton Woods Agreement. This established permanent international organizations to promote international monetary cooperation and provide the machinery through which countries could consult and collaborate – the IMF, the International Bank for Reconstruction and Development (IBRD) (later World Bank), and an International Trade Organization (ITO) that never got off the ground. The boards of governors and executive boards of these institutions would be controlled by the countries with the largest investments (quotas).
There was one issue, later to become highly controversial, that divided the Americans and the Europeans. The European view of the lending operations of the IMF was that resources would be provided to member countries more or less on request, as they were needed. In particular, the British delegates to Bretton Woods thought that members should be free to pursue whatever domestic policies they desired, even if these affected exchange rates, a central international concern of the conference. By contrast, the Americans thought that borrowing foreign currency (dollars as it turned out) from the IMF was not an unqualified right. At a pre-conference, the US delegation proposed that language of the proposed Articles of Agreement (Article V) be changed from a “member shall be entitled to buy another member’s currency from the Fund” to a “member may buy the currency of another member from the Fund” (emphasis added). The United Kingdom had the support of virtually all other countries in successfully opposing this change. However, later the US director on the IMF executive board insisted that use of IMF resources should be subject to close scrutiny to assure a country’s adherence to its principles and purposes. Indeed, the US executive director challenged several requests to draw on IMF funds in the late 1940s on these grounds and, as a result, in 1950 the managing director specified that countries would have to lay out the specific steps they would take in overcoming balance of payments difficulties. Britain and France abstained in the subsequent vote on this issue, while other countries agreed to the American notion of ‘conditionality’ only because the US was their main source of credit. This conditionality laid on IMF and World Bank loans has subsequently become the main issue of controversy in global economic governance. Nation states resent having their economic policies scrutinized and controlled by economists at the international governance institutions directly, and by the US Treasury Department indirectly.
The Bretton Woods Institutions were supposed to govern agreed-upon principles for the conducting of economic affairs decided at the conference.
3. The countries in which the process of development has started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Here we will discuss the different characteristics of developing countries of the world.
Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
4. Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men. Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income earning opportunities.
Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty. A focus on poor women as distinct from men in efforts to reduce poverty is justified because women’s paid and unpaid work is crucial for the survival of poor households.
Women are economic actors: They produce and process food for the family; they are the primary caretakers of children, the elderly and the sick; and their income and labor are directed toward children’s education, health and well-being. In fact, there is incontrovertible evidence from a number of studies conducted during the 1980s that mothers typically spend their income on food and health care for children, which is in sharp contrast to men, who spend a higher proportion of their income for personal needs. A study conducted in Brazil, for example, found that the positive effect on the probability that a child will survive in urban Brazil is almost 20 times greater when the household income is controlled by a woman rather than by a man (Quisumbing et al., 1995).
Yet women face significant constraints in maximizing their productivity. They often do not have equal access to productive inputs or to markets for their goods. They own only 15 percent of the land worldwide, work longer hours than men and earn lower wages. They are overrepresented among workers in the informal labor market, in jobs that are seasonal, more precarious and not protected by labor standards.
Despite this, policies and programs that are based on notions of a typical household as consisting of a male bread-winner and dependent women and children often target men for the provision of productive resources and services. Such an approach widens the gender-based productivity gap, negatively affects women’s economic status, and does little to reduce poverty. Addressing these gender biases and inequalities by intentionally investing in women as economic agents, and doing so within a framework of rights that ensures that women’s access to and control over productive resources is a part of their entitlement as citizens, is an effective and efficient poverty reduction strategy.
Name: Ogbuagu Chiamaka Rosita
Reg no: 2019/241915
Department: Economics department
Course code: Eco 361
Course title: Development Economics
1. The Bandung conference of 1955 led to the emergence of the third world. India played a major role in raising the voice of newly independent countries. As a result of independence movement, the United Nations, was gradually transformed into a third world forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and Sri Lanka discussed peace, role of the Third World, economic development, and decolonization process. They tried to chart out a diplomatic course as neutrals or ‘nonaligned‘ to either Russia or America in the Cold War. The Bandung Conference was based on the principles of political self-determination, mutual respect for sovereignty, nonaggression, non-interference in internal affairs, and equality. Conference paved way for the emergence of third world free from evils of capitalism and communism. Thus, the concept of the ‘Third World‘ was born. Communist China was one of the countries participating as the Third World Country rather than the Russian Soviet orbit. The 1955 Bandung Conference was the first attempt at the creation and establishment of a third force in global politics. The term Third World was adopted to refer to a self-defining group of non-aligned states. The Bandung Conference played an important role in mobilizing the counter-hegemonic forces to be known as the Third World. There were other priority areas as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via the United Nation .The conference also emphasis on the issues of increased cultural and technical cooperation between African and Asian governments along with the establishment for an economic development fund .It also raised its voice for the required support for human rights and the self-determinations of peoples and nations by the world community and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind of perspective the international politics marked the emergence of a non-aligned bloc from the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the Bandung spirit is not ‘detachment‘ from the powerful Western countries, but non-aligned self-helped ‘organization against‘ the powerful countries.
2. The Bretton Woods Institutions—the IMF and World Bank have an important role to play in making globalization work better. They were created in 1944 to help restore and sustain the benefits of global integration, by promoting international economic cooperation. Today, they pursue, within their respective mandates, the common objective of broadly-shared prosperity. The World Bank concentrates on long-term investment projects, institution-building, and on social, environmental, and poverty issues. The IMF focuses on the functioning of the international monetary system, and on promoting sound macroeconomic policies as a precondition for sustained economic growth. The greatest asset that the Bretton Woods Institutions have in fulfilling these objectives is their culture of consensus-building, which is based on trust and mutual respect among the more than 180 countries—and their governments—that make up their membership. The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development.
Together, International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA) form the World Bank, which provides financing, policy advice, and technical assistance to governments of developing countries. IDA focuses on the world’s poorest countries, while IBRD assists middle-income and creditworthy poorer countries.
International Finance Corporation (IFC), Multilateral Investment Guarantee Agency(MIGA), and International Centre for Settlement of Investment Disputes(ICSID) focus on strengthening the private sector in developing countries. Through these institutions, the World Bank Group provides financing, technical assistance, political risk insurance, and settlement of disputes to private enterprises, including financial institutions.
The International Monetary Fund works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. The IMF’s primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries and their citizens to transact with each other. It does so by keeping track of the global economy and the economies of member countries, lending to countries with balance of payments difficulties, and giving practical help to members.
However, both institutions also recognize the need for change and internal reform. The IMF has implemented many reforms in recent years, designed to strengthen its cooperative nature and improve its ability to serve its membership. To mention a few: The IMF has increasingly become an open and transparent organization, as demonstrated by the overwhelming amount of information now available on its internet website. It is also encouraging transparency among its membership.
It is taking action to strengthen economic governance. For instance, it is promoting the use of standards and codes as vehicles for sound economic and financial management and corporate governance.
It is working to safeguard the stability and integrity of the international financial system as a global public good. In particular, the joint IMF-World Bank Financial Sector Assessment Program (FSAP) is at the core of efforts
to strengthen financial sectors and combat money laundering in member countries. It is encouraging true national ownership of reforms by streamlining the conditions attached to IMF-supported programs. While conditionality remains essential, countries must themselves take responsibility for implementing the necessary reforms. Lastly, the IMF is an institution ready to listen and learn, and not just from its member governments. It recognizes and values the role of civil society organizations in articulating the moral foundations for collective action and building grass roots support.
3. Low level of living: The standard of living is a measure of the material aspects of a national or regional economy. It counts the amount of goods and services that are produced and available for purchase by a person, family, group, or nation. The generally accepted measure of the standard of living is GDP per capita. This is a nation’s gross domestic product divided by its population. The GDP is the total output of goods and services produced in a year by everyone within the country’s borders. Real GDP per capita removes the effects of inflation or price increases. Real GDP is a better measure of the standard of living than nominal GDP. A country that produces a lot will be able to pay higher wages. That means its residents can afford to buy more of its plentiful production. This low level of living affect a nation is so many ways: i, Soaring debt, that is, constant increase in their debt. Their debts have not only grown but also may become costlier and riskier. ii, Export marginalization. iii. Energy poverty. iv. Climate vulnerability.
Widespread proverty: Poverty is about not having enough money to meet basic needs including food, clothing and shelter. However, poverty is more, much more than just not having enough money.
The World Bank Organization describes poverty in this way: “Poverty is hunger. Poverty is lack of shelter. Poverty is being sick and not being able to see a doctor. Poverty is not having access to school and not knowing how to read. Poverty is not having a job, is fear for the future, living one day at a time. Poverty has many faces, changing from place to place and across time, and has been described in many ways. Most often, poverty is a situation people want to escape. So poverty is a call to action — for the poor and the wealthy alike — a call to change the world so that many more may have enough to eat, adequate shelter, access to education and health, protection from violence, and a voice in what happens in their communities.” The impact of poverty is majorly witnessed in the health of individuals due to a lack of sufficient food, proper clothing, medical services, and sanitary living conditions. Malnutrition is a problem for these people and their families. Poverty is linked to unfavourable situations such as inferior housing, homelessness, inadequate food and nutrition insecurity, inadequate care for children, lack of access to health care, hazardous neighbourhoods, and underfunded schools, all of which have a detrimental influence on our country’s children.
High and rising levels of unemployment and underemployment: unemployment, the condition of one who is capable of working, actively seeking work, but unable to find any work. Underemployment is the term used to designate the situation of those who are able to find employment only for shorter than normal periods—part-time workers, seasonal workers, or day or casual workers. The term may also describe the condition of workers whose education or training make them overqualified for their jobs. If the population grows faster than the stock of capital of a country, the entire addition to the labour force cannot be absorbed in productive employment because not enough instruments of production would be there to employ them. Since in less developed countries, the stock of capital has not been growing at a rate fast enough to keep pace with the growth of population, the ability to offer productive employment is very limited. This has resulted in surplus labour which is manifested in the existence of huge magnitude of under-employment or disguised unemployment and open unemployment in both the rural and urban areas. The effects of underemployment are similar to those of unemployment. Both cause higher poverty levels. Without adequate income, families don’t buy as much. That reduces consumer demand, slowing business growth. As a result, the nation’s gross domestic product is lower, as is job growth. It’s a vicious, downward spiral. If underemployment continues, workers lose the ability to update their skills with on-the-job training. They may not be able to return to their former field without training. Some retrain for different fields. Others downscale their lifestyle and accept long-term underemployment. That creates structural unemployment. Younger people may find they never get a good start to their career. Forced to take jobs that are beneath their skills, they don’t get on the right track. They miss the mentoring needed to get increased responsibility that would update their skills. By the time the recession ends, they are competing with a new batch of graduates for entry-level positions in their fields.
4. Yes. It’s true that poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure hwo you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
1.Prior to the initiation of economic reforms and trade liberalization nearly 40 years ago, China maintained policies that kept the economy very poor, stagnant, centrally controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free-market reforms in 1979, China has been among the world’s fastest-growing economies, with real annual gross domestic product (GDP) growth averaging 9.5% through 2018, a pace described by the World Bank as “the fastest sustained expansion by a major economy in history.” Such growth has enabled China, on average, to double its GDP every eight years and helped raise an estimated 800 million people out of poverty. China has become the world’s largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves. This in turn has made China a major commercial partner of the United States. China is the largest U.S. merchandise trading partner, biggest source of imports, and third-largest U.S. export market. China is also the largest foreign holder of U.S. Treasury securities, which help fund the federal debt and keep U.S. interest rates low.
As China’s economy has matured, its real GDP growth has slowed significantly, from 14.2% in 2007 to 6.6% in 2018, and that growth is projected by the International Monetary Fund (IMF) to fall to 5.5% by 2024. The Chinese government has embraced slower economic growth, referring to it as the “new normal” and acknowledging the need for China to embrace a new growth model that relies less on fixed investment and exporting, and more on private consumption, services, and innovation to drive economic growth. Such reforms are needed in order for China to avoid hitting the “middle-income trap,” when countries achieve a certain economic level but begin to experience sharply diminishing economic growth rates because they are unable to adopt new sources of economic growth, such as innovation.
The Chinese government has made innovation a top priority in its economic planning through a number of high-profile initiatives, such as “Made in China 2025,” a plan announced in 2015 to upgrade and modernize China’s manufacturing in 10 key sectors through extensive government assistance in order to make China a major global player in these sectors. However, such measures have increasingly raised concerns that China intends to use industrial policies to decrease the country’s reliance on foreign technology (including by locking out foreign firms in China) and eventually dominate global markets.
In 2017, the Trump Administration launched a Section 301 investigation of China’s innovation and intellectual property policies deemed harmful to U.S. economic interests. It subsequently raised tariffs by 25% on $250 billion worth of imports from China, while China increased tariffs (ranging from 5% to 25%) on $110 billion worth of imports from the United States. Such measures have sharply decreased bilateral trade in 2019. On May 10, 2019, President Trump announced he was considering raising tariffs on nearly all remaining products from China. A protracted and escalating trade conflict between the United States and China could have negative consequences for the Chinese economy.
China’s growing global economic influence and the economic and trade policies it maintains have significant implications for the United States and hence are of major interest to Congress. While China is a large and growing market for U.S. firms, its incomplete transition to a free-market economy has resulted in economic policies deemed harmful to U.S. economic interests, such as industrial policies and theft of U.S. intellectual property. This report provides background on China’s economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China’s economic rise for the United States.
2.1. National Income as an Index of Development:
There is a group of certain economists which maintains the growth of national income should be considered most suitable index of economic development. They are Simon Kuznets, Meier and Baldwin, Hicks D. Samuelson, Pigon and Kuznets who favored this method as a basis for measuring economic development. For this purpose, net national product (NNP) is preferred to gross national product (GNP) as it gives a better idea about the progress of a nation.According to Prof. Meier and Baldwin, “If an increase in per capita income is taken as the measure of economic development, we would be in the awkward position of having to say that a country had not developed if its real national income, had risen but population had also risen at the same rate.”
Similarly, Prof. Me de maintains that, “Total income is a more appropriate concept to measure welfare than income per capita.” Therefore, in measurable economic development, the most appropriate measure will be to include final goods and services produced but we must allow for the wastage of machinery and other capital goods during the process of production.
2.. Per Capita Real Income:
Some economists believe that economic growth is meaningless if it does not improve the standard of living of the common masses. Thus, they say that the meaning of economic development is to increase aggregate output. Such a view holds that economic development be defined as a process by which the real per capita income increases over a long period time. Harvey Leibenstein, Rostow, Baran, Buchanan and many others favour the use of per capita output as an index of economic development.The UNO experts in their report on ‘Measures of Economic Development of Under-developed Countries’ have also accepted this measurement of development. Charles P. Kindleberger also suggested the same method with proper precautions in computing the national income data.
3.. Economic Welfare as an Index of Economic Development:
Keeping in view the drawbacks of real national income and real per capita measures of economic development, some economists like Coline Clark, Kindleberger, D. Bright Singh, Hersick etc. suggested economic welfare as the measure of economic development
3.1. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
2. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
3. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
4. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
5. Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
4.Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship, say MEPs in a non binding resolution adopted on Tuesday. Two other resolutions look at measures to combat gender stereotyping in the EU and to protect women’s rights in North Africa.
“Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment,” said rapporteur Elisabeth Morin-Chartier (EPP, FR) in Monday’s debate marking International Women’s Day.
Parliament points out that cuts in education, childcare and care services have pushed women to work shorter hours or part-time, thereby reducing not only their income but their pensions as well.
Okoro Henry Chukwuebuka
2019/249001
Economics department
(1). Scientific research is a research that involves the processes of observation, hypothesis testing before drawing conclusions. It is a research that goes through critical evaluation.
Non-scientific research is a research that doesn’t involve the scientific processes. It is a research in which the conclusions are drawn based on guess works or opinions.
The difference between these two types of research is that scientific research goes through critical evaluation processes to ensure that information found is valid while non-scientific research just concludes without critical findings. This is the main difference between the two researches.
(2). The characteristics of scientific research are Validity, Criticality, Rigorousness, Generalizability, Objectivity and Logicality and Systemsticism.
NAME: Aneke Chinaecherem Emmanuella
REGNOM: 2019/242940
EMAIL: chinecheremaneke21@gmail.com
1. After the independence of India in 1947 it established relations with the Republic of China.
The modern Indo-China diplomatic relationship began in 1950 when India was among the first non-Communist countries to end formal relations with the Republic of China and recognize the People’s Republic of China (PRC) as the legitimate government of both mainland China and Taiwan.
India and China’s relationship is known to be contemporary and conflicting; there have been 3 military conflicts between India and China, The Sino-Indian War of 1962, the border clashes in Nathu La and Cho La in 1967, and the Sundorong Chu Standoff in 1987.
In late 1980 the country successfully rebuilt its diplomatic and economic relations.
In recent years the two Armies have standoffs at the Doklam plateau along with the disputed Bhutan-China border and in 2020 there have been earned stand and skimmers at multiple locations along the entire Indo-China border.
The clash between Indo-China in the Galwan valley is marked as a serious issue that resulted in 20 deaths of Indian soldiers and an undisclosed number of Chinese soldiers.
India’s Foreign Policy
According to the majority of political experts, the global political architecture is changing as power gradually shifts from the West to the East. China and India, the two most populous countries, are losing their hesitation to express their worldwide profiles and are on their path to becoming economic powerhouses. The relationship between China and India, the two regional powerhouses, will be crucial to the direction of this Asian century. Despite favorable changes in the recent few years, the trajectory of the India-China relationship is still very convoluted and challenging to understand.
The political elite in India frequently claims that Indian foreign policy has a clear continuity.
There is obvious consistency in India’s official position about its China policy. All political parties in India agree that bilateral relations with China should be strengthened and that dialogue should be used to resolve disputes between the two countries.
2a. Low Per Capita Real Income: the real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
2b. Mass Poverty: most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
2c. Rapid Population Growth: developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options,l lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
2d. The Problem of Unemployment and Underemployment: unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
2e. Excessive Dependence on Agriculture: the majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
2f. Technological Backwardness: the development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
2g. Dualistic Economy: duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
2h. Lack of Infrastructures: infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
2i. Lower Productivity:in developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
2j. High Consumption and Low Saving: in developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
3. According to the united nations, countries with less than $1,035 GNI per Capita are classified as low income countries. Those with between $1,036 and $4,085 as lower middle income countries, those with between $4,086 and $12,615 as upper middle countries and those with incomes of more than $12, 615 as high income countries.
The united nation development program uses HDI as the main criterion for measuring development. This criterion takes into consideration other development indicators like literacy level, life expectancy index, per Capita income, education index, mean years of schooling index, expected years of schooling index etc.
According to the world bank, they used per Capita income as the main criterion in classifying different countries~ this per Capita income is the total income of a country divided by the number of people in that country.
They equally uses GDP. It refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price.
4.The feminization of poverty was coined by a social worker named Dr. Diana Pearce in 1978.
To me, I feel it’s gender biased.
Why me?
Why women?
Why not men?
It’s gender biased.
Poverty is suppose to have the face everyone for it to be balanced but due to inequality and the mistreatment of women by the society, they concluded it should have a woman’s face.
Women are made to suffer more in the society. They bear children, do the domestic works and chores and as well take of the husband still, they’re not paid anything.
In our society, even when a woman is qualified to do same job with a man, a woman is paid less because they feel that’s how it should be.
In conclusion, I feel the phrase isn’t necessary and it’s very wrong to think in this manner. We’re one country and, if one thing should affect one, it should affect all so, poverty should have both the face of a man and a woman.
OSSAI MARY AMARACHI
2019/243684
ECONOMICS DEPARTMENT
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
In 1955 the Bandung conference was held with participants from countries of Asia and Africa. Before this major conference was held, countries of the participating continents were under the imperial rule of the western and European countries. The conference, with China and India at the fore front sought to establish self-sufficiency, mutual respect for sovereignty and generally equality for member states. Countries referred to as the third world were countries who were neither members of the west (the capitalist) and the east (communist) and as such were keen on being neutral about the cold war between the first and second worlds. The conference was a platform the third world used to discuss matters that would enable them to forge ahead in areas of their political, economic and social situation following the de-colonization of the countries involved, the issues of over reliance on western and European governments were tabled and the solutions which would include cooperation amongst themselves and the protection of human rights were also discussed. With the success of the conference and doing so without forming allies or enemies, the countries of the third world could now squarely focus on the issues of underdevelopment that riddled them.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Different institutions have different approaches to the measurement of development. Some of them include:
The World Bank delegates the world’s economies and their scale of development in four income groups. The classifications are updated every 1st July and are based on the GNI of the previous year, also the GNI is expressed in US dollars. The groups are as follows
a. Low income countries
b. Lower-middle income countries
c. Upper –middle income countries
d. High income countries
Low income countries have a GNI per capita of less than 1,085 us dollars, countries with 1,086-4,225 are in the lower-middle income group, those with 4,256-13,205 are regarded as upper-middle income countries and finally those with more than 13,205 GNI per capita are classified as high income countries.
The United Nations use the Human development index to measure development and under development. Countries with higher HDI are said to be developed, while countries with relatively lower HDI are said to be underdeveloped. The HDI of a country is composed of the life expectancy, the level of education, and per capita income of a nation. Countries with very high human development index include, Norway and Switzerland. Norway’s HDI is 0.961 which according to the UN is very high and therefore it is a developed country. Whereas Nigeria has a HDI of 0.471 which is very low and is therefore an underdeveloped nation
3. Clearly discuss and analyses the Common Characteristics of Developing Nations.
a. Developing nations have low levels of living; the standards of living for people in developing nations are low, they are not able to afford basic necessities needed to sustain their life and enhance their wellbeing, shelter is deprived as well as food and good clothing. Most people in developing nations merely survive living in these terrible conditions.
b. Low level of productivity; developing nations are often faced with the struggle of efficient productivity. Poor working conditions, lack of incentives (very low minimum wages), insecurity, bad policies, corruption and most importantly unemployment and underemployment of the factors of production cause developing countries to lag behind in their levels of productivity.
c. High rates of population growth and dependency burden: most developing countries face the problem of overpopulation which could result to an increase in the number of dependent citizens, over population could be as a result of urbanization of restrictions to birth control methods due to religious beliefs or illiteracy. Dependent individual are not able to fend for themselves they may include children, elderly people or people living with disabilities
d. High and rising rates of unemployment and underemployment; developing nations are characterized by having people who are willing and able to work but have no jobs and therefore cannot contribute productively on the other hand underemployment refers to a situation where peoples job descriptions do not match their skills causing them to contribute and earn lesser than they should. The issue of underemployment is prevalent in developing countries. Nigeria a developing country has an unemployment rate of 33%.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyses this statement. Do you agree or disagree? If yes, why? If you know?
According to the World Bank, 1.29 billion people live in absolute poverty and 70% are women. Poverty is multi-faceted, it tells of restrictions, inequality, deprivations and seclusions and limitations of access all of which are not alien to women folk. To say that poverty has the face of a woman is sad but true. Women are burdened with the expectations of being household care takers especially in developing nations, causing the brunt of lack and want in households to be on their shoulders, women are denied education that can enable them to earn higher incomes and pressurized into undertaking unpaid labors due to religious and cultural biases. These gender discriminations impoverish them, making them unequal to their male counterparts. Also the complications of child bearing and child rearing are inalienable for most women in developing worlds, they undergo various health challenges and suffer malnutrition in a bid to raise their children. Women are vulnerable when it comes to discriminations and are not free socially and financially to lift themselves out of poverty because of patriarchal structures. If a society must alleviate poverty it must seek to free all and not just some, women should not be denied their rights to make choices whether they be financial, religious, educational or social, they should be paid for their labor and not exploited and then these freedoms can extend to their children and make the society better off.
1. The concurrent rise of China and India represents a geopolitical event of historic propor- tions. Rarely has the global system witnessed the reemergence of two major powers simulta- neously—states that possess large populations, have ancient and storied histories, abut each other spatially and politically, and dominate the geographic environs within which they are located. Their return to center stage after several centuries of imperial domination thus presages the reincarnation of an earlier era in Asian geopolitics when China and India were among the most important concentrations of political power in the international system since the fall of Rome. The parallel revival of these two nations also dramatically exemplifies Asia’s resurgence in the global system. Although there has been a steady shift in the concentration of capabilities from West to East ever since the end of World War II, this transformation took a decisive turn when the smaller, early-industrializing nations of Asia—Japan, South Korea, Taiwan, and Singapore—were joined by the large, continental-sized states of China and India. The recent renaissance of China and India is owed in large measure to their productive integration into the liberal economic order built and sustained by American hegemony in the postwar period. As a result of that integration, both of these giants have experienced dramatic levels of economic growth in recent decades. China’s economic performance, for example, has been simply meteoric, exceeding even the impressive record set by the first generation of Asian tigers between 1960 and 1990. During the last thirty or so years, China has demonstrated average real growth in excess of 9 percent annually, with growth rates touching 13–14 percent in peak years.
The two countries also share a common interest in ensuring that the international environment is peaceful to guarantee their continued economic consolidation and domestic political stability. But if the history of previous rising powers is any indication, as China and India contin- ue to grow they will want to progressively reshape the international system to advance their own interests—interests that may differ from those of the United States, the established he- gemon that sustains the current global order. This does not imply, however, that Beijing and New Delhi invariably share common objectives in opposition to Washington. To be sure, the two countries are united by certain acknowledged aims: recovering the preeminence they once enjoyed as international entities of consequence; establishing a multipolar world with themselves as constituent poles; avoiding the costs of contributing to global public goods on the grounds that their vast developmental challenges are not yet overcome; and protecting their hard-won sovereignty in the face of new principles justifying foreign intervention in the internal affairs of states.
Despite these convergent objectives, China and India are also divided by deep differ- ences in the conduct of their political affairs. Beijing’s and New Delhi’s divergent behaviors are shaped by the unique histories governing their formation as modern states, the stark contrasts in their respective political regimes, and their ongoing territorial disputes and geopolitical rivalries, which are exacerbated by their growing prominence in international politics. As one analysis concluded, “The relation[ship] between Asia’s two great powers can best be characterized as one of global cooperation on transnational issues especially vis-à- vis the ‘West,’ geostrategic rivalry at the regional level in the form of growing commercial exchange and in some cases bilateral competition.”1 This statement captures, in many ways, the conventional wisdom about the dichotomy in Sino-Indian ties: a broad convergence on transnational issues complemented by a deep bilateral rivalry that persists despite the two countries’ mutual and growing economic interdependence. Whether the agreement on issues of global order, especially vis-à-vis the West, is real or whether it merely obscures important differences between the two rising powers is a critical question because it bears on the character and the extent of change that might be desired of the international system as it evolves. Accordingly, there is a pressing need to understand how these two emerging powers conceive of various issues relating to the global order. Such an understanding would reveal the extent of their comfort with the existing system while simultaneously providing clues about how they might seek to reshape it if they acquire the ability to do so in the future.
This volume is an attempt to understand how China and India think about various dimensions of the emerging global order. It brings together a series of paired papers by distinguished Chinese and Indian scholars who address a common set of questions (listed at the beginning of each chapter) relating to four broad areas of concern: the evolving global order, the challenges of regional security, key problems of the global commons, and emerg- ing nontraditional security concerns.
2. In general, a country can be economically categorized on a spectrum as underdeveloped (lowest income), developing, or developed (highest income). A developing country has a lower-income economy (with a per capita Gross National Income of less than $11,095) when compared to that of a developed country. In comparison to an underdeveloped country, a developing country has a higher-income economy. Therefore, the economy of a developing country sits in the middle of the economic spectrum of per capita income provided by the World Bank.
Human Development Index (HDI)
While GDP and GNI are both economic measures to compare overall development, the Human Development Index (HDI) was created to account for not only economic growth of a nation, but also to lend credit to the human potential of the people living within a country. The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and having a decent standard of living. The HDI is the geometric mean of normalized indices for each of the three dimensions.” – United Nations Human Development Program While GDP and GNI are both numerical values provided by the World Bank, the HDI of a country will be calculated and correlated to a numerical scale of 0 (least developed) to 1 (most developed).
Gross National Income (GNI) is the total amount of money earned by a nation’s people and businesses. It is used to measure and track a nation’s wealth from year to year. The number includes the nation’s gross domestic product (GDP) plus the income it receives from overseas sources. The more widely known term GDP is an estimate of the total value of all goods and services produced within a nation for a set period, usually a year. GNI is an alternative to gross domestic product (GDP) as a means of measuring and tracking a nation’s wealth and is considered a more accurate indicator for some nations. The U.S. Bureau of Economic Affairs (BEA) tracks the GDP to measure the health of the U.S. economy from year to year. The two numbers are not significantly different. Finally, there’s gross national product (GNP), which is a broad measure of all economic activity.
3. Major Characteristics of Developing Countries
*Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
*Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
*Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
*The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
4. Firstly I do not agree that poverty has the face of a woman. I do not think that one should put a face to the world’s disease, called poverty. Some people may argue about its sources, and on this point I would agree with the comment that “women are often on the forefront of poverty” where men are presented to be the main income creator, but still this does not mean that one can connect this phenomenon with gender. From the moment that we start to theorize about poverty’s gender, we are trapped because it does not help us in any case, in fact provokes many questions and in some way destroys the concept of gender equality. It is true that the mass media expresses poverty by using the picture of women and children, but I think is created with an aim, to show us how important it is for this world to help the mothers in need, but it does not serve to show that poverty has a women’s face.
1. The concurrent rise of China and India represents a geopolitical event of historic proportions. Rarely has the global system witnessed the reemergence of two major powers simultaneously—states that possess large populations, have ancient and storied histories, abut each other spatially and politically, and dominate the geographic environs within which they are located. Their return to center stage after several centuries of imperial domination thus presages the reincarnation of an earlier era in Asian geopolitics when China and India were among the most important concentrations of political power in the international system since the fall of Rome. The parallel revival of these two nations also dramatically exemplifies Asia’s resurgence in the global system. Although there has been a steady shift in the concentration of capabilities from West to East ever since the end of World War II, this transformation took a decisive turn when the smaller, early-industrializing nations of Asia—Japan, South Korea, Taiwan, and Singapore—were joined by the large, continental-sized states of China and India.
The recent renaissance of China and India is owed in large measure to their productive integration into the liberal economic order built and sustained by American hegemony in the postwar period. As a result of that integration, both of these giants have experienced dramatic levels of economic growth in recent decades. China’s economic performance, for example, has been simply meteoric, exceeding even the impressive record set by the first generation of Asian tigers between 1960 and 1990. During the last thirty or so years, China has demonstrated average real growth in excess of 9 percent annually, with growth rates touching 13–14 percent in peak years.
As a result, China’s per capita income rose by more than 6 percent every year from 1978 to 2003—much faster than that of any other Asian country, significantly better than the 1.8 percent per year in Western Europe and the United States, and four times as fast as the world average. This feat has made the Chinese economy—in purchasing-power-parity terms—the second largest in the world with a 2010 gross domestic product (GDP) of roughly $10 trillion. Many scholars believe that China will likely overtake the United States in GDP size at some point during the first half of this century.
India’s economic performance has not yet matched China’s in either intensity or longevity. New Delhi’s economic reforms, which have produced India’s recent spurt in growth, began only in the early 1990s, over a decade after China’s. To date, these reforms have been neither comprehensive nor complete, and they have been hampered by the contestation inherent in India’s democratic politics, the complexity of the Indian federal system, the lack of elite consensus on critical policy issues, and the persistence of important rent-seeking entities within the national polity.
Beijing’s and New Delhi’s divergent behaviors are shaped by the unique histories governing their formation as modern states, the stark contrasts in their respective political regimes, and their ongoing territorial disputes and geopolitical rivalries.
Yet despite these disadvantages, the Indian economy has grown at a rate of about 7.5 percent during the first decade of this century. The country thus eclipsed its own historic underperformance and enabled a doubling of per capita income about every decade, placing the Indian economy, when measured by purchasing-power-parity methods, in fourth place globally with a 2010 GDP of approximately $4 trillion. More interestingly, India’s growth—unlike China’s, which relies extensively on foreign capital and export markets—has derived largely from internal sources. Accordingly, many analysts have concluded that continuing economic reforms will enable the country not only to reach its targeted objective of sustained double-digit growth but also to catch up with China in coming decades as Beijing’s own growth slows because of its incipient demographic transitions.
Even if these exact expectations are not met, China and India are likely to sustain their relatively high levels of GDP growth for some time to come. This continual accretion of economic power will position them among the top three economies internationally by the year 2030, if not earlier, thus confirming their status as global giants. Propelled by the rapid economic growth achieved thus far, China and India are already extending their political influence as well as strengthening their military capabilities and reach. China is quickly closing in on its goal of becoming a major global power, if it is not one already, and India is likely to achieve global-power status in the next two decades. Chinese and Indian contributions to the expansion of the international economic system are generally welcomed, with growth in both nations promising to function as the motor of the international economy for several decades to come. The two countries also share a common interest in ensuring that the international environment is peaceful to guarantee their continued economic consolidation and domestic political stability.
But if the history of previous rising powers is any indication, as China and India continue to grow they will want to progressively reshape the international system to advance their own interests—interests that may differ from those of the United States, the established hegemon that sustains the current global order. This does not imply, however, that Beijing and New Delhi invariably share common objectives in opposition to Washington. To be sure, the two countries are united by certain acknowledged aims: recovering the preeminence they once enjoyed as international entities of consequence; establishing a multipolar world with themselves as constituent poles; avoiding the costs of contributing to global public goods on the grounds that their vast developmental challenges are not yet overcome; and protecting their hard-won sovereignty in the face of new principles justifying foreign intervention in the internal affairs of states.
Despite these convergent objectives, China and India are also divided by deep differences in the conduct of their political affairs. Beijing’s and New Delhi’s divergent behaviors are shaped by the unique histories governing their formation as modern states, the stark contrasts in their respective political regimes, and their ongoing territorial disputes and geopolitical rivalries, which are exacerbated by their growing prominence in international politics. As one analysis concluded, “the relation[ship] between Asia’s two great powers can best be characterized as one of global cooperation on transnational issues especially vis-à-vis the ‘West,’ geostrategic rivalry at the regional level in the form of growing commercial exchange and in some cases bilateral competition.”1 This statement captures, in many ways, the conventional wisdom about the dichotomy in Sino-Indian ties: a broad convergence on transnational issues complemented by a deep bilateral rivalry that persists despite the two countries’ mutual and growing economic interdependence.
Whether the agreement on issues of global order, especially vis-à-vis the West, is real or whether it merely obscures important differences between the two rising powers is a critical question because it bears on the character and the extent of change that might be desired of the international system as it evolves. Accordingly, there is a pressing need to understand how these two emerging powers conceive of various issues relating to the global order. Such an understanding would reveal the extent of their comfort with the existing system while simultaneously providing clues about how they might seek to reshape it if they acquire the ability to do so in the future.
This volume is an attempt to understand how China and India think about various dimensions of the emerging global order. It brings together a series of paired papers by distinguished Chinese and Indian scholars who address a common set of questions (listed at the beginning of each chapter) relating to four broad areas of concern: the evolving global order, the challenges of regional security, key problems of the global commons, and emerging nontraditional security concerns.
2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.
Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.
Measuring economic activity in a country or region provides insights into the economic well-being of its residents.
Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.
Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.
3. Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020.
4. To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
NAME: OMEBE SAMUEL OFORBUIKE
REG NO: 2019/246454
DEPARTMENT: ECONOMICS
(1) It is important to remember and know that the term third world countries was used at the 1955 conference of Afro- Asian, held in Bandung, Indonesia. This marked the beginning of the political emergence of the third world. Two nations(China and India) whose social and Economic system where sharply opposed(Socialism and Communism) had the most vital influence in promoting the conference. As a result of decolonization,most colonized countries became a sovereign state. These countries shared various features, including common history as had been subjected to European and North American domination,underdevelopment,rapid demographic growth etc. and they were called as the ‘Third World‘.The term ‘ThirdWorld’ referred to the one-third of the super powers i.e. the United States and the Soviet Union. Third World,not a homogenous group,has different political system and level of economic development. The Third World countries are also called developing countries because they are facing the economic,social and political problems like poverty,starvation,illiteracy and ethnic conflicts. This countries have opposed imperialism, colonialism, foreign intervention and have supported peaceful co-existence. Since they all have similar challenges and aspirations formed and called themselves a non- alignment countries. Non- alignment here means not belonging to any of the two world powers or Bloc(America and Russia).
(2)The set of indices developed by UN and other global agencies on how to measure development includes:
(i) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:
(a) Life expectancy
(b) Educational attainment and
(c) Adjusted real income
The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of many African countries for example. Countries like USA,France,South Korea etc are examples of countries with high HDI.
(ii) UN’s Human Poverty Index (HPI): This index measures deprivation using % of people expected to die before age 40, % of of illiterate adults, % of people without access to health services and safe water and the % of underweight children under five.
Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due yto lack of education etc.
Norway formally was regarded as country with low HPI,but currently, Switzerland which was formerly second in the ranking is now dominating as the country with the lowest HPI.
Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered undeveloped.
According to World Bank, countries with a GNI of 11,905 US dollar and less are developing (specified by the World Bank,2015) and 12,275 US dollar (World Bank,2019)
(3) The following are the common charecteristics of Developing Nation:
(i) Low level of living: in almost all the developing countries, the populace of the country is faced with low level of living, as they are poor and unable to adequately provide there basic necessities of life.
(ii) Low Level of Productivity: One common feature that most developed countries posses, that developing countries does not posses is Economic growth which is measured based on a countries productive ability. In developing countries,resources are under utilized and this gives rise to low level of productivity. Even though developing countries Economy is Agrarian, the output from agricultural activities is still low due to employing local methods of agriculture.
(iii) High rate of Population growth and dependency burdens: Developing countries are mostly characterised by an incessant increase in their population. Not just that,the rate of the dependent population also rises due to increase in population without a corresponding increase in employment, production level etc.
1. The rise of China and India as major world powers promises to test the established global order in the coming decades. As the two powers grow, they are bound to change the current international system—with profound implications for themselves, the United States, and the world. And whether they agree on the changes to be made, especially when it comes to their relationship with the West, will influence the system’s future character. A close examination of Chinese and Indian perspectives on the fundamentals of the emerging international order reveals that Sino-Indian differences on many issues of both bilateral and global significance are stark.
KEY POINTS
China and India’s sustained economic growth fuels their increasing geopolitical and military influence.
Despite their developmental similarities, China and India’s bilateral strategic rivalry means that they have competing priorities on most major global issues.
Sino-Indian differences are considerable on issues relating to the nonproliferation system, Asian security, regional stability in Southern Asia, and security in the maritime commons, space, and cyberspace. The two rising powers broadly agree on matters relating to the international economic system, energy security, and the environment.
Because of its ongoing shift to the Asia-Pacific and status as the only global superpower, the United States must manage a complex set of relationships with China and India, which are at times working at cross-purposes.
CHINESE AND INDIAN POSITIONS ON INTERNATIONAL ISSUES
Global Order: China and India tend to agree on the importance of state sovereignty and the need to reform global governance institutions to reflect the new balance of power. They also share a strong commitment to the open economic order that has allowed both powers to flourish in the global marketplace. But the two diverge on many details of the international system, such as the future viability of the Non-Proliferation Treaty and the role of state-owned enterprises in fostering globalization.
Regional Security: Both China and India want a stable Asia-Pacific that will allow them to sustain their economic prosperity, but they perceive threats very differently and have divergent priorities. Importantly, India seeks a resolute American presence in the region to hedge against possible Chinese excesses, while China sees the United States as significantly complicating its pursuit of its regional goals and worries about American containment attempts.
Security in the Global Commons: Beijing and New Delhi rely heavily on open sea lines of communication, and as a result, they both support the current maritime security regime. However, their interpretations as to its provisions have occasionally diverged. In space, China enjoys significant advantages over India and has emphasized the military dimensions of its program, while New Delhi has only recently begun developing space-based military technology. Both countries are just beginning to wrestle with the difficult task of forming cybersecurity policies, but they have already acted to limit objectionable or illegal activities online. In striking the balance between online freedom and social stability, India has encountered a higher degree of opprobrium in the public sphere than its counterpart.
Nontraditional Security: Chinese and Indian approaches to both energy and the environment broadly converge. Because India and China face a rising domestic demand for energy, they heavily rely on foreign suppliers of energy resources. This has prompted both governments to seek more efficient power sources and to secure their presence in overseas energy markets. On environmental policy, the two countries focus on primarily local and short-term concerns that must be balanced with the need for economic growth.
2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.
Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.
Measuring economic activity in a country or region provides insights into the economic well-being of its residents.
Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.
Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.
3. Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
4. To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist
China and India are the two emerging economies of the world. As of 2019, China and India is 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute mort
Capitalism is based on the Principle of Individual Rights, whereas Communism is based on the Principle of Community Rights
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
* Birth and death rates
Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.
* The Human Development Index (HDI)
The HDI is a composite statistic calculated from the:
Life expectancy index
Education index
Mean years of schooling index
Expected years of schooling index
Income index
Countries are ranked based on their score and split into categories that suggest how well developed they are.
* Infant mortality rate
Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.
* Literacy rate
The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.
* Life expectancy
This simple statistic can be used as an indicator of the:
healthcare quality in a country or province
level of sanitation
provision of care for the elderly
It should not, of course, be used on its own to describe these things.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
*The common characteristics of developing nations are briefly explained below.
Major Characteristics of Developing Countries
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
* Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
* Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
* The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
* Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
* Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
* Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
* Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
* Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
* High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
* its true that poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure hwo you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
Answer:
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.
2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.
3.
1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
5.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
6.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.
4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.
Additionally, women are also more likely to live in poverty in older age due to the lack of social security and pension schemes that cover for women.
1. Two countries,China and India played a role in the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalists and communist. In April,1955, the Bandung conference was held. UN denominated numerically by European countries,was gradually transformed into something of a third world forum. The conference was a trigger for some governments including those of China, Egypt and Ghana, to begin to seek both domestic and international legitimacy by protraying themselves as exemplars of a committee to third world solidarity. The goals of the conference included the promotion of economic and cultural cooperation, protection of human rights and principle of self determination,a call to end racial discrimination on wherever it occurred, and a reiteration of the importance of peaceful coexistence. The conference also contained some hindrances for the evolution of the international human rights project.
2. Developing countries are defined according to their GNI per capita per year,if it is less than US $11,905(World bank,2015) and recently it is less than US $12,275(World bank,2019). The activities of International Monetary Fund(IMF) and World bank ( together comprising the Bretton Woods Institution) in Africa have continued to generate questions about the impact of economic reforms on democratization and economic growth. They strongly believe that economic growth contributes significantly to poverty alleviation efforts and hence generates improvements in living standards, particularly in developing countries, including those in Africa.UN indicators of development include urbanization, saving figures, quality of life index, Human Development Index,etc while it’s indicators of under development include: high birth rates,high level of illiteracy,low life expectancy,etc.
3. Some of the characteristics of developing countries are:
a. Primary products exports: The primary products produced in the countries are being exported out of the country. This results to the hike in prices of the little remaining in the producing country.
b. Dependency and vulnerability: When citizens of a country are easily exposed to dangers and wars, and still depends on the government for safety,it indicates a sign of under development.
c. Substantial dependence on agricultural production: Agricultural production in these countries are still on a substantial level. Farmers produce to just take care of themselves and family.
d. Widespread poverty: Poverty rate in these are very alarming. A greater percentage of people in these countries can barely feed themselves three times a day.
4. Yes, indeed poverty has a woman’s face and this is seen in many of our communities. Women face the triple burden of child bearing,child rearing and domestic unpaid labour. They have been denied opportunities for growth, are without access to adequate healthcare, education or income. Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis, unemployment, precarious work,part time work,low salaries and slow career paths already affect women more than men.. Opportunities must be created to innovate and invest in women, to introduce better social programs, finding ways of integrating women into the labor force or reducing discrimination in financial markets.
1: China and India’s diplomacy with different developing countries and the heart of their foreign policy is based on alleged Virtuous Circle.It is opined that trade, investment and lending provide economic development opportunities for the duo countries and their developing counterparts.
They are rhetoric about adopting the win-win models of development.
2:United Nations indicators of Development include;
*Income Per Capita
*Economic Structure
*Urbanization
*Savings Figures
*Quality of Life index
*Human Development index
Indicators of Underdevelopment include;
*High Birth Rates
*High Infant Mortality
*Undernourishment
*A large agricultural and Small industrial Sector
*Low Percapita GDP.
*High Level Of Illiteracy
*Low life expectancy
3* Low Level Of Living- People doesn’t live up to their full potentials
Due to widespread level of Poverty
The standards of living are low
*Low Level Of Productivity – Productive activities are not fully enhanced in the developing Nations
*High Rate of Population Growth and Dependency Ratio: Due to lack of education and also poverty
The population scales up so high without a corresponding resource increase,thus making people depend on other people and the nation on other nations
*High Level Of Unemployment and Underemployment
Due to low economic downturn and poor productivity
Unemployment scales up to a high rate and people are not fully employed in their potentials
4:. Yes,I stand for the opinion that poverty has the face of a woman with the following points
Poverty has a woman’s face because they face the triple burden of childbearing,child rearing and domestic unpaid labour.They have been denied opportunity to grow,are without access to health care, education or income and simultaneously forced to live in the tight bind of culture and traditions.
Their poverty is multidimensional not only lack of income,but also of nutrition and health,they are denied education and ability to earn an adequate income.They don’t explore their innate capabilities.
1) In socialist economies, governments are charged with redistributing wealth and narrowing the gap between the poor and the rich. While no modern-day countries are considered to have a “pure” socialist system, Cuba, China, and North Korea have strong elements of socialist market economies.
The idea of the Third World, which is usually traced to the late 1940s or early 1950s, was increasingly used to try and generate unity and support among an emergent group of nation-states whose governments were reluctant to take sides in the Cold War. These leaders and governments sought to displace the ‘East-West’ conflict with the ‘North-South’ conflict. The rise of Third Worldism in the 1950s and 1960s was closely connected to a range of national liberation projects and specific forms of regionalism in the erstwhile colonies of Asia and Africa, as well as the former mandates and new nation-states of the Middle East, and the ‘older’ nation-states of Latin America. Exponents of Third Worldism in this period linked it to national liberation and various forms of Pan-Asianism, Pan-Arabism, Pan-Africanism and Pan-Americanism. The weakening or demise of the first generation of Third Worldist regimes in the 1960s and 1970s coincided with or was followed by the emergence of a second generation of Third Worldist regimes that articulated a more radical, explicitly socialist, vision. A moderate form of Third Worldism also became significant at the United Nations in the 1970s: it was centred on the call for a New International Economic Order (NIEO). By the 1980s, however, Third Worldism had entered into a period of dramatic decline. With the end of the Cold War, some movements, governments and commentators have sought to reorient and revitalise the idea of a Third World, while others have argued that it has lost its relevance. This introductory article provides a critical overview of the history of Third Worldism, while clarifying both its constraints and its appeal. As a world-historical movement, Third Worldism (in both its first and second generation modalities) emerged out of the activities and ideas of anti-colonial nationalists and their efforts to mesh highly romanticised interpretations of pre-colonial traditions and cultures with the utopianism embodied by Marxism and socialism specifically, and ‘Western’ visions of modernisation and development more generally. Apart from the problems associated with combining these different strands, Third Worldism also went into decline because of the contradictions inherent in the process of decolinisation and in the new international politico-economic order, in the context of the changing character, and eventual end, of the global political economy of the Cold War.
2)Gross National Income (GNI) per capita is the dollar value of a country’s final income in a year divided by its population using Atlas methodology.GNI per capita can raise a country’s standard of living. That’s because many citizens live in other countries to get better jobs. They also remit part of their wages back to their families at home. The United Nations uses the Human Development Index.
Gross National Income (GNI) is the total amount of money earned by a nation’s people and businesses. It is used to measure and track a nation’s wealth from year to year. The number includes the nation’s gross domestic product (GDP) plus the income it receives from overseas sources.
The more widely known term GDP is an estimate of the total value of all goods and services produced within a nation for a set period, usually a year. GNI is an alternative to gross domestic product (GDP) as a means of measuring and tracking a nation’s wealth and is considered a more accurate indicator for some nations. The U.S. Bureau of Economic Affairs (BEA) tracks the GDP to measure the health of the U.S. economy from year to year. The two numbers are not significantly different. Finally, there’s gross national product (GNP), which is a broad measure of all economic activity.
3) Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance.
1. Low Per Capita Income:
The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan. According to these estimates for the year 1995, per capita income was $340 in India, $ 620 in China, $240 in Bangladesh, $ 700 in Sri Lanka. As against these, for the year 1995 per capita income was $ 26,980 in USA, $ 23,750 in Sweden, $ 39,640 in Japan and 40,630 in Switzerland.
2. Excessive Dependence on Agriculture:
A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
4) YES
Poverty has the face of a woman
Reasons been that the female gender are mostly affected by poverty
Our analysis shows that discrimination increases hunger and poverty for women,” said Asma Lateef, director of Bread for the World Institute. “Women earn less than men for doing the same job. They bear the burden of unpaid responsibilities such as housework and cooking and are the primary caregivers in their families.
true that poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure hwo you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
Benedict Jennifer chinagorom
2019/244229
1.The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.
2. The main criteria used by the International Monetary Fund in country classification are
i) per capita income level: Per Capita Income is a metric used to determine the amount of money earned per individual in a nation or geographical area. You’ll get PCI of a specific geographical location by dividing a population’s total income by that area’s population.
ii) export diversification: Developing countries should diversify their exports since this can, for example, help them to overcome export instability or the negative impact of terms of trade in primary products.
iii) degree of integration into the global financial system: The extent to which financial integration is measured includes gross capital flows, stocks of foreign assets and liabilities, degree of co-movement of stock returns, degree of dispersion of worldwide real interest rates, and financial openness.
The International Monetary Fund uses either sums or weighted averages of data for individual countries.
3. Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, low per capital income etc
4. Poverty is identified as a woman because of educational status, gender inequality, and discrimination over access to resource, lack of capital, early marriage, religion, lack of collateral to access to credit, poverty, and lack of adequate income. The feminization of poverty is not only a consequence of lack of income, but is also the result of the deprivation of opportunities and gender biases present in both societies and governments. Women’s increasing share of poverty is related to the rising incidence of lone mother households.
I agree with the motion poverty has the face of a woman.Because women don’t have certain opportunities that men have to fight poverty.
Benedict Jennifer chinagorom
2019/244229
1.The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.
2. The main criteria used by the International Monetary Fund in country classification are
i) per capita income level: Per Capita Income is a metric used to determine the amount of money earned per individual in a nation or geographical area. You’ll get PCI of a specific geographical location by dividing a population’s total income by that area’s population.
ii) export diversification: Developing countries should diversify their exports since this can, for example, help them to overcome export instability or the negative impact of terms of trade in primary products.
iii) degree of integration into the global financial system: The extent to which financial integration is measured includes gross capital flows, stocks of foreign assets and liabilities, degree of co-movement of stock returns, degree of dispersion of worldwide real interest rates, and financial openness.
The International Monetary Fund uses either sums or weighted averages of data for individual countries.
3. Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, low per capital income etc
4. Poverty is identified as a woman because of educational status, gender inequality, and discrimination over access to resource, lack of capital, early marriage, religion, lack of collateral to access to credit, poverty, and lack of adequate income. The feminization of poverty is not only a consequence of lack of income, but is also the result of the deprivation of opportunities and gender biases present in both societies and governments. Women’s increasing share of poverty is related to the rising incidence of lone mother households.
Answers:
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.
2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.
3.
1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
5.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
6.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.
7.High population growth: Developing nations tend to have higher population growth rates, which can put a strain on resources and limit economic growth.
8.Lack of access to education and healthcare: Developing nations often have lower levels of access to education and healthcare, which can limit the potential for economic development and improvement in the quality of life.
These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.
4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.
Answers:
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.
2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.
3.
1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
5.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
6.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
7.Lack of access to education and healthcare: Developing nations often have lower levels of access to education and healthcare, which can limit the potential for economic development and improvement in the quality of life.
4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.
Answers:
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.
2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates.
3.
1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
5.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
6.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
7.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.
These are some of the common characteristics of developing nations.
4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment.
Additionally, women are also more likely to live in poverty in older age due to the lack of social security and pension schemes that cover for women.
Samuel Francess Kenile
2019/250034
obogwusamuelfrances@gmail.com
Question 3:
Characteristics of developing nations
Major Characteristics of Developing Countries
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore.
Question 4:
Firstly I do not agree that poverty has the face of a woman it is a No for me….
I do not think that one should put a face to the world’s disease, called poverty. Some people may argue about its sources, and on this point I would agree with the comment that “women are often on the forefront of poverty” where men are presented to be the main income creator, but still this does not mean that one can connect this phenomenon with gender. From the moment that we start to theorize about poverty’s gender, we are trapped because it does not help us in any case, in fact provokes many questions and in some way destroys the concept of gender equality. It is true that the mass media expresses poverty by using the picture of women and children, but I think is created with an aim, to show us how important it is for this world to help the mothers in need, but it does not serve to show that poverty has a women’s face. Anyways, I am so glad you raised this question because there are various aspects that should be considered and analyzed.
NAME: MOETEKE EBELE LOUISA
REG NO: 2019/244608
COURSE: ECO 361
EMAIL: moetekeebele@gmail.com
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
ANSWER
In the early 1970s, Chairman Mao Zedong and Premier Zhou Enlai made timely and farsighted major decisions in view of changes in international developments, thus opening new horizons for China’s diplomacy and ushering in a third wave of establishing diplomatic relations with other countries.
During this period, the two superpowers, the United States and the Soviet Union, were locked in rivalry for global hegemony, with the Soviet Union on the offensive and the United States on the defensive. To reverse its unfavorable position and lift itself from the predicament in Viet Nam, the United States sought rapprochement with China. Seeing that the United States had the desire to improve its relations with China, Chairman Mao Zedong and Premier Zhou Enlai seized the opportunity. They accepted the proposal made by the United States for improving relations with China and invited Kissinger and Nixon to visit China. During Nixon’s visit to China, the two countries issued a joint communiqué which became known as the Shanghai Communiqué. The thawing of China-US relations exerted far reaching impact on the international developments. In 1971, the United Nations passed with overwhelming majority of votes a resolution on restoring China’s lawful seat in the United Nations. China’s international status was vastly enhanced.
China’s relations with other third world countries saw extensive growth both politically and economically. China fully supported the people of Asia, Africa and Latin America in their just struggle against imperialism, colonialism and hegemony. It did not attach any political conditions in providing economic assistance. China supported the third world countries in developing their economy and their call for the establishment of a new international economic order, winning their trust and support. As a result, many third world countries entered into diplomatic relations with China. Twenty-six African countries forged diplomatic ties with China. There was also a breakthrough in China’s relations with the Latin American countries as China established diplomatic relations with 13 Latin American countries including Chile, Mexico, Argentina, Venezuela and Brazil. China entered into diplomatic relations with Malaysia, Thailand, the Philippines, Bangladesh and Maldives in Southeast Asia and South Asia, seven countries including Iran, Turkey and Kuwait in West Asia and the Middle East and five countries in South Pacific such as Fiji and Papua New Guinea. The establishment of diplomatic relations between China and a large number of developing countries was accompanied by frequent exchange of visits between the Chinese leaders and the leaders of these countries, which greatly boosted the steady growth of relations between China and other third world countries.
In September, 1972, the Chinese and Japanese governments issued a joint statement on establishing diplomatic relations after negotiation. In August, 1978, China and Japan signed the Sino-Japanese Treaty of Peace and Friendship which further promoted their relations. The 1970s also witnessed a surge of establishing diplomatic relations between China and the West European countries. From 1970 onwards, China successively entered into diplomatic relations with Italy, Austria, Belgium, Greece, the Federal Republic of Germany, Iceland, Luxembourg, Spain, Portugal and Ireland. China’s relations with Britain and the Netherlands were respectively upgraded to the ambassadorial level. China entered into formal relations with the European Community in 1975. During this period, relations between China on the one hand and Canada, Australia and New Zealand on the other were also normalized.
By the end of 1979, China had entered into diplomatic relations with 120 countries. China had friends across the five continents and its international standing saw unprecedented growth.
2. Traditionally, developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
ANSWER
International institutions use economic indicators, including per capita income (GNP or GDP), economic structure, urbanization, and the amount of savings. Besides that, there are also two other indicators that show the progress of a nations or a region’s socio-economic development, namely the Quality-of-Life Index (IKH or PQLI) and the Human Development Index (HDI). In the following, a summary of Deddy T. Tikson (2005) will be presented on these five indicators:
Income per capita: Per capita income, both in terms of GNP and GDP, is one of the macroeconomic indicators that has long been used to measure economic growth. From a macroeconomic perspective, this indicator is a measurable part of human well-being, so that it can describe the welfare and prosperity of society. It seems that per capita income has become an indispensable macroeconomic indicator, although it has several drawbacks. So that the growth of national income, so far, has been used as a development goal in third world countries. It is as if there is an assumption that the welfare and prosperity of society is automatically indicated by an increase in national income (economic growth). Even though, some experts consider the use of this indicator to ignore the distribution pattern of national income. This indicator does not measure the distribution of income and equal distribution of welfare, including equal access to economic resources.
Economic structure: It has been assumed that an increase in per capita income will reflect a structural transformation in the economy and social classes. With economic development and per capita increase, the contribution of the manufacturing / industrial and service sectors to national income will continue to increase. The development of the industrial sector and the improvement in the level of wages will increase the demand for industrial goods, which will be followed by development of investment and expansion of the workforce. On the other hand, the contribution of the agricultural sector to national income will continue to decline.
Urbanization: Urbanization can be interpreted as the increasing proportion of the population living in urban areas compared to rural areas. Urbanization is said to not occur if population growth in urban areas is equal to zero. In accordance with the industrialization experience in Western European countries and North America, the proportion of the population in urban areas is directly proportional to the proportion of industrialization. This means that the speed of urbanization will increase in line with the fast pace of the industrialization process. In industrialized countries, the majority of the population lives in urban areas, while in developing countries the largest proportion lives in rural areas. Based on this phenomenon, urbanization is used as an indicator of development.
Savings Figures: The development of the manufacturing / industrial sector during the industrialization stage requires investment and capital. Financial capital is a major factor in the industrialization process in a society, as happened in England in general Europe at the beginning of the growth of capitalism which was followed by the industrial revolution. In a society with high productivity, this venture capital can be collected through savings, both private and government.
Quality of Life Index: The Quality-of-Life Index (IKH) or Physical Quality of life Index (PQLI) is used to measure people’s welfare and prosperity. Macroeconomic indexes cannot provide a picture of people’s welfare in measuring economic success. For example, the national income of a nation continues to grow, but without increasing social welfare. The quality-of-life index is calculated based on: the average life expectancy at the age of one, infant mortality rate, and numerical literacy. In the quality-of-life index, the average life expectancy and infant mortality rate can simultaneously describe the nutritional status of children and mothers, health status, and family environment which is directly related to family welfare. Education is measured by literacy rate, which can describe the number of people who have access to education as a result of development. This variable describes the welfare of the community, because the high economic status of the family will affect the educational status of its members. By the makers, this index is considered as the best way to measure the quality of human beings as a result of development, in addition to per capita income as a measure of human quantity.
Human Development Index: The United Nations Development Program (UNDP) has developed other development indicators, in addition to several existing indicators. The basic idea underlying this index is the importance of paying attention to the quality of human resources. According to UNDP, development should be aimed at developing human resources. In this understanding, development can be defined as a process that aims to develop options that can be made by humans. This is based on the assumption that improving the quality of human resources will be followed by the opening of various options and opportunities to determine the path of human life freely. Economic growth is considered an important factor in human life, but it will not automatically affect the improvement of human dignity and dignity. In this connection, there are three components that are considered most decisive in development, long and healthy life, the acquisition and development of knowledge, and the improvement of access to a better life. This index is created by combining three components. The three components are: average life expectancy at birth, average educational attainment at the elementary, junior high and high school levels and per capita income calculated based on Purchasing Power Parity. Human development is closely related to increasing human capabilities which can be summarized in increasing knowledge, attitude and skills, in addition to the health status of all family members and their environment.
The original meaning of the term underdevelopment indicated that existing resources had not been exploited. The word is now close in meaning to ‘poverty’, although some oil-rich underdeveloped countries have high incomes which are enjoyed by the few. Indicators of underdevelopment include: high birth rates, high infant mortality, undernourishment, a large agricultural and small industrial sector, low per capita GDP, high levels of illiteracy, and low life expectancy.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
ANSWER
Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
The common characteristics of developing nations are briefly explained below.
Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth: Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness: The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy: Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures: Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity: In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving: In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?.
ANSWER
Poverty has the face of a woman; women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience; addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.
Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income-earning opportunities.
Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty.
NAME; EZEH PATRICK EZENWA
DEPT; ECO MAJOR
REG NO; 2019/244053
EMAIL; Saintpatrickforchrist@gmail.com
Q1. As a result of decolonization, the UN at first numerically dominated by Europe communities and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, through the essentially academic debate. Despite that debate, the unity of the third world remain hypotheticallybpressed mainly from the platforms of international conference.
Q2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.
The criteria by UN takes into consideration of development indicators like literacy level, life expectancy, besides per capita income. Countries with these criteria according to the UN are developing and those without are underdeveloped.
Q3. Low level of living: this simply means that a segment of the population of a country does not have adequate access to much wealth and basic services and amenities necessary for living, lack of food, shelter, clothing etc.
Low levels of productivity: this means that resources are not being used to their highest and fulest capacity, that is they are not utilizing their skills and competences to their maximum potential which in turn increases a company’s resources costs.
High rate of population growth: this occurs when the population of an economy or country exceeds the available resources to sustain and neet the basic need of the citizens in that economy.
Traditional and rural social structure: traditional structures can hinder development due to lack of urbanization and acceptance of new innovations and ideas for the improvement of that particular region or economy.
Wide spread poverty: this occurs when most regions in an economy are extremely poor occuring in most individuals. This state of poverty reduces the level of living making life extremely hard and un sustainable for individuals in those regions of the economy.
Substancial dependence on agriculture: this implies to over dependence on agriculture mainly for consumption and not for commercial purposes. Even exporting of only agricultural products can limit a country’s development.
Feeding the government: when the government extorts its citizens and uses the money for their own personal gain it leads to under development. Not meeting the need of the people by providing good roads, jobs, Infrastructure etc, leading to low level of living in the lives of the individuals in the economy.
Increase in unemployment: this occurs when the number of youths in the economy are without jobs, this may lead to increase in crime thus hinders Development in that economy.
Paul Emmanuel Okwuchukwu
2015/197559
paulemmanuelok7@gmail.com
(1)
The Third World was normally seen to include many countries with colonial pasts in Africa, Latin America, Oceania, and Asia. It was also sometimes taken as synonymous with countries in the Non-Aligned Movement. In the so-called dependency theory of thinkers like Raul Prebisch, Walter Rodney, Theotonio dos Santos, and Andre Gunder Frank, the Third World has also been connected to the world economic division as “periphery” countries in the world system that is dominated by the “core” countries. The Third World, or developing countries in Asia, Africa, and Latin America, are typically seen as being impoverished and having economies that are distorted due to their reliance on exporting raw materials to wealthier nations in exchange for completed goods. Along with having unstable administrations, these countries frequently have high rates of sickness, illiteracy, and population growth. When nonaligned countries gained independence from colonial domination following World War II, the term “third world” was initially used to set them apart from Western countries and former Eastern Bloc members, and sometimes more particularly from the United States and the former Soviet Union (the first and second worlds, respectively).For the most part, the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerging industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. Some countries in the Communist Bloc, such as Cuba, were often regarded as “third world.” Because many Third World countries were extremely poor and non-industrialized, it became a stereotype to refer to poor countries as “Third World countries,” yet the “Third World” term is also often taken to include newly industrialized countries like Brazil or China. Historically, some European countries were part of the non-aligned movement, and a few were and are very prosperous, including Austria, Ireland, and Switzerland.
Many third-world countries believed they could successfully court both the communist and capitalist nations of the world and develop key economic partnerships without necessarily falling under their direct influence. In practice, this plan did not work out quite so well; many third-world nations were exploited or undermined by the two superpowers, which feared these supposedly neutral nations were in danger of falling into alignment with the enemy.
(2)
The HDI attempts to rank all countries on a scale of 0 (lowest human development) to 1 (highest human development) based on three goals or end products of development: longevity as measured by life expectancy at birth; knowledge as measured by a weighted average of adult literacy (two-thirds) and gross school enrollment ratio (one-third); and standard of living as measured by real per capita gross domestic product adjusted for the differing purchasing power parity of each country’s currency to reflect cost of living and for the assumption of diminishing marginal utility of income; Using these three measures of development and applying a formula to data for 177 countries, the HDI ranks countries into four groups: low human development (0.0 to 0.499), medium human development (0.50 to 0.799), high human development (0.80 to 0.90), and very high human development (0.90 to 1.0).
(3)
(3)
A. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
B. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
C. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
D. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
E. Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector.
Name : Henry Victor Ifeanyichukwu
Reg no : 2029/250111
Email : victorhenry274@gmail.com
1, The co-operation between China and India brought about liberation from colonial influence. Although they did have different social- economics system this difference changed the way capitalist economy and communist sociality relate. This co-operation brought about the decolonisation. This make United nation which is predominantly by European countries, started depreciation into a 3rd world state . this made major policy debate on underdevelopment and creation of more theories mainly from the platform of international conference.
2, traditional speaking GNI per capita has been the measurement for under development. But using a GNI as measurement is narrow concept but development is broader concept. So the United nation, world bank and bretton woods institutions such index involved economic growth, inflation, exchange rate and population growth. All this index can be used a broader concept to measure a country development, for development to occur they must be a change in infrastructure, distribution of wealth and allocation of owners of factors of production ,and all this index is better measurement than that of GNI per-capita
3, a) low levels of living: All developing nations share a very low standard of living. A large number of the population in developing nation can hardly provide there basic needs like food , shelter and cloth.
They have to find a way to survive without the availability of all this important living necessity, so they suffer poor standard of living.
b) low level of productivity: In most developing nation are suffering from depression/recession. In which there is no maximum usage of resources present for production. This leads to low productivity of developing nations and also low output, the input is usually greater than the output.
c) High rate of population growth and dependency burdens: developing nations suffers from high rate of growth in there population, because of lack of childbearing controlling drugs or even the lack of knowledge of availability of those medications. These would result to high level of population growth and if resources aren’t present to take care of the growing population. The population growth would Lead to high dependency ratio, a large numbers of the population would depend on the few numbers of the population to survive and sustain life.
d) High and rising level of unemployment and underemployment : Developing nations suffers from unemployment and underemployment, this is because the job opportunities present is developing nations is less than the able to work population ( labour market ). This make a large members of the population unable able to find employment and some unsatisfied with the present unemployment and few members of the population employed. Creating unemployment and underemployment leading to Insecurity in sociality.
e) traditional, rural social structure: Developing nations has a large level of poor infrastructure present in there rural areas. Rural areas has little or no modern infrastructure and social structure present in the community of underdevelop nation.
f) widespread of poverty : Developing nations doesn’t have the resources to take of there growing population.And because of that large members of population suffers from poverty and they enable to provide for there basic needs because of lacking or inadequate resources.
g) substantial dependency on agriculture production : Develop of nation are involved in substantial agriculture. Due to lack of modern equipment and technology that would improve the agriculture sector. This technology would take the agriculture sector for substantial to commercial where they can provide adequately to feed the nation, import and also provide raw material for industries.
h) primary – product export : most Developing nations export primary product for production to develop nation at a cheap rate. And purchase the manufactured products from the developed nation at a higher rate. this would result in deficit deficit in balance of payment of those developing nations.
i) dependence and vulnerability : Developing nations suffers from a high rate of dependency because a large number of the population is not working and the unemployed population depends on the few employed population. This can lead to extortion by the employed population on the unemployed population, the unemployed population are vulnerable and unable to protect themselves.
4, I agree with the statement “ poverty has the face of a woman ” in a developing nations they hardly invest into the population of women, like a low rate of women attend school and acquire the skill they need to be productive in society cause a large number of population women to be in poverty and have high dependency on there male counterparts.
Orji Emeka Joseph
2015/200587
orjiemeka1997@gmail.com
(1)
The Third World, or developing countries in Asia, Africa, and Latin America, are typically seen as being impoverished and having economies that are distorted due to their reliance on exporting raw materials to wealthier nations in exchange for completed goods. Along with having unstable administrations, these countries frequently have high rates of sickness, illiteracy, and population growth. When nonaligned countries gained independence from colonial domination following World War II, the term “third world” was initially used to set them apart from Western countries and former Eastern Bloc members, and sometimes more particularly from the United States and the former Soviet Union (the first and second worlds, respectively).For the most part, the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerging industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. Some countries in the Communist Bloc, such as Cuba, were often regarded as “third world.” Because many Third World countries were extremely poor and non-industrialized, it became a stereotype to refer to poor countries as “Third World countries,” yet the “Third World” term is also often taken to include newly industrialized countries like Brazil or China. Historically, some European countries were part of the non-aligned movement, and a few were and are very prosperous, including Austria, Ireland, and Switzerland.
(2)
The United Nations Development Program (UNDP) provides the most popular indicator of the comparative condition of socioeconomic development in its annual series of Human Development Reports. The creation and improvement of their educational Human Development Index serves as the focal point of these studies, which were started in 1990. (HDI).The HDI attempts to rank all countries on a scale of 0 (lowest human development) to 1 (highest human development) based on three goals or end products of development: longevity as measured by life expectancy at birth; knowledge as measured by a weighted average of adult literacy (two-thirds) and gross school enrollment ratio (one-third); and standard of living as measured by real per capita gross domestic product adjusted for the differing purchasing power parity of each country’s currency to reflect cost of living and for the assumption of diminishing marginal utility of income; Using these three measures of development and applying a formula to data for 177 countries, the HDI ranks countries into four groups: low human development (0.0 to 0.499), medium human development (0.50 to 0.799), high human development (0.80 to 0.90), and very high human development (0.90 to 1.0).
(3)
A. Low Level of Capital Formation:
The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
Since then there has been substantial increase in the rate of saving and investment in the developing countries. However, the quantity of capital per head is still very low in them and therefore productivity remains low. For example, in India rate of investment has now (2012-13) risen to about 35 per cent but it still remains a poor country with low level of productivity. This is because as a result of rapid population growth, capital per head is still very low.
The low level of capital formation in a developing country is due both to the weakness of the inducement to invest and to the low propensity and capacity to save. The rate of saving in developing countries is low primarily because of the low level of national income. In such an economy, the low level of per capita income limits the size of the market demand for manufacturing output which weakens the inducement to invest. The low level of investment also arises as a result of the lack of dynamic entrepreneurship which was regarded by Schumpeter as the focal point in the process of economic development.
At the root of capital deficiency is the shortage of savings. The level of per capita income being quite low, most of it is spent on satisfying the bare necessities of life, leaving a very little margin of income for capital accumulation. Even with an increase in the level of individual incomes in a developing economy, there does not usually follow a higher rate of accumulation because of the tendency to copy the higher levels of consumption prevailing in the advanced countries. Nurkse has called this as “demonstration effect”. It is usually caused through media like films, television or through foreign visits.
Generally, there exist large inequalities in the distribution of incomes in developing countries. This should have resulted in a greater volume of savings available for capital formation. But most often the sector in which the greatest concentration of incomes lies is the one which derives its income primarily from non-entrepreneurial sources such as unearned incomes of rents, interests and monopoly profits.
The attitudes and social values of this sector are often such that it is prone to use its income for ‘conspicuous consumption’, investment in land and real estate, speculative transactions, inventory accumulation and hoarding of gold and jewellery. If these surpluses are channelled into productive investment, they would tend to increase substantially the level of capital formation.
B. Rapid Population Growth and Disguised Unemployment:
The diversity among developing economies is perhaps nowhere to be seen so much in evidence as in respect of the facts of their population in respect of its size, density and growth. While we have examples of India, Pakistan and Bangladesh with their teeming millions and galloping rates of population growth, there are the Latin American countries which are very sparsely populated and whose total population in some cases numbers less than a single metropolitan city in India and China. In several newly emerging countries of Africa too and in some of the Middle Eastern countries the size of their population cannot be regarded as excessive, considering their large expanse. The South- East and Eastern Asia, on the other hand, have large populations.
However, there appears to be a common feature, namely, a rapid rate of population growth. This rate has been rising still more in recent years, thanks to the advances in medical sciences which have greatly reduced the death rate due to epidemics and diseases. While the death rate has fallen sharply, but there has been no commensurate decline in birth rate so that the natural survival rate has become much larger. The great threat of this rapid population growth rate is that it sets at nought all attempts at development in as much as much of the increased output is swallowed up by the increased population.
One important consequence of this rapid rate of population growth is that it throws more and more people on land and into informal sector to eke out their living from agriculture, since alternative occupations do not simultaneously develop and thus are not there to absorb the increasing numbers seeking gainful employment. The resultant pressure of population on land and in informal sector thus gives rise to what has been called “disguised unemployment”.
Disguised unemployment means that there are more persons engaged in agriculture than are actually needed so that the addition of such persons does not add to agricultural output, or putting it alternatively, given the technology and organisation even if some of the persons are withdrawn from land, no fall in production will follow from such withdrawal. As a result, marginal productivity of a wide range of labourers employed in agriculture is zero.
C. Lower Levels of Human Capital:
Human capital – education, health and skills – are of crucial importance for economic development. In our analysis of human development index (HDI) we noted that there is great disparity in human capital among the developing and developed countries. The developing countries lack in human capital that is responsible for low productivity of labour and capital in them.
Lack of education manifests itself in lower enrolment rate in primary, secondary and tertiary educational institutions which impact knowledge and skills of the people. Lower levels of education and skills are not conducive for the development of new industries and for absorbing new technologies to achieve higher levels of production. Besides, lack of education and skills makes people less adaptable to change and lowers the ability to organise and manage industrial enterprises. Further, in countries like India, advantage of demographic dividend can be taken only if the younger persons can be educated, healthy and equipped with appropriate skills so that they can be employed in productive activities.
The data of various education indicators is given in Table 4.3. It will be seen from this table that as compared to high income countries enrolment in secondary and tertiary educational institutions was 38% and 63% of person of relevant age group in 2009 as compared to 100 per cent in high-income developed countries.
Similarly, enrolment rate in tertiary educational institutions which impart higher liberal, managerial and technical education in developing countries of low income and lower middle income is 6 per cent and 19 per cent respectively of the relevant age group as compared to 67 per cent in high-income developed countries. It will be seen from Table 4.3 that in India enrolment for secondary education is 60 per cent and in China 78 per cent of relevant age group.
Similarly, Table 4.3 reveals that adult literacy rate (percentage of population of ages 15 and older that can read and write a short simple statement in their everyday life) is much lower (62% in low income and 80% in lower middle income developing countries) in 2009 as compared to 98% in high income developed countries. In India adult literacy rate is only 63 per cent in 2009 whereas it is much higher in China (94 %) and Brazil (90 %) as compared to 98% in high-income developed countries.
Oliaku Israel Okeoma
2015/203653
israelwest24@gmail.com
(1)
The Third World, or developing nations of Asia, Africa, and Latin America, are generally characterized as poor, with economies distorted by their reliance on the export of primary products to developed countries in exchange for finished products.These nations also tend to have high rates of illiteracy, disease, population growth, and unstable governments. The term “third world” was originally intended to distinguish the nonaligned nations that gained independence from colonial rule beginning after World War II from the Western nations and from those that formed the former Eastern Bloc, and sometimes more specifically from the United States and from the former Soviet Union (the first and second worlds, respectively). For the most part, the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerging industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. Some countries in the Communist Bloc, such as Cuba, were often regarded as “third world.” Because many Third World countries were extremely poor and non-industrialized, it became a stereotype to refer to poor countries as “Third World countries,” yet the “Third World” term is also often taken to include newly industrialized countries like Brazil or China. Historically, some European countries were part of the non-aligned movement, and a few were and are very prosperous, including Austria, Ireland, and Switzerland.
(2)
The United Nations Development Program (UNDP) provides the most popular indicator of the comparative condition of socioeconomic development in its annual series of Human Development Reports. The creation and improvement of their educational Human Development Index serves as the focal point of these studies, which were started in 1990. (HDI).The HDI attempts to rank all countries on a scale of 0 (lowest human development) to 1 (highest human development) based on three goals or end products of development: longevity as measured by life expectancy at birth; knowledge as measured by a weighted average of adult literacy (two-thirds) and gross school enrollment ratio (one-third); and standard of living as measured by real per capita gross domestic product adjusted for the differing purchasing power parity of each country’s currency to reflect cost of living and for the assumption of diminishing marginal utility of income; Using these three measures of development and applying a formula to data for 177 countries, the HDI ranks countries into four groups: low human development (0.0 to 0.499), medium human development (0.50 to 0.799), high human development (0.80 to 0.90), and very
(3)
A. Low Per Capita Income:
The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan. According to these estimates for the year 1995, per capita income was $340 in India, $ 620 in China, $240 in Bangladesh, $ 700 in Sri Lanka. As against these, for the year 1995 per capita income was $ 26,980 in USA, $ 23,750 in Sweden, $ 39,640 in Japan and 40,630 in Switzerland.
It may however be noted that the extent of poverty prevailing in the developing countries is not fully reflected in the per capita income which is only an average income and also includes the incomes of the rich also. Large inequalities in income distribution prevailing in these economies have made the lives of the people more miserable. A large bulk of population of these countries lives below the poverty line.
For example, the recent estimates reveal that about 28 per cent of India’s population (i.e. about 260 million people) lives below the poverty line, that is, they are unable to get even sufficient calories of food needed for minimum subsistence, not to speak of minimum clothing and housing facilities. The situation in other developing countries is no better.
The low levels of per capita income and poverty in developing countries is due to low levels of productivity in various fields of production. The low levels of productivity in the developing economies has been caused by dominance of low-productivity agriculture and informal sectors in their economies, low levels of capital formation – both physical and human (education, health), lack of technological progress, rapid population growth which are in fact the very characteristics of the underdeveloped nature of the developing economies. By utilising their natural resources accelerating rate of capital formation and making progress in technology they can increase their levels of productivity and income and break the vicious circle of poverty operating in them.
It may however be noted that after the Second World War and with getting political freedom from colonial rule, in a good number of the underdeveloped countries the process of growth has been started and their gross domestic product (GDP) and per capita income are increasing.
B. Excessive Dependence on Agriculture:
A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
In the present-day developed countries, the modern industrial growth brought about structural transformation with the proportion of working population engaged in agriculture falling drastically and that employed in the modern industrial and services sectors rising enormously. This occurred due to the rapid growth of the modern sector on the one hand and tremendous rise in productivity in agriculture on the other.
The dominance of agriculture in developing countries can be known from the distribution of their workforce by sectors. According to estimates made by ILO given in Table 4.1 on an average 61 per cent of workforce of low-income developing countries was employed in agriculture whereas only 19 per cent in industry and 20 per cent in services. On the contrary, in high income, that is, developed countries only 4 per cent of their workforce is employed in agriculture, while 26 per cent of their workforce is employed in industry and 70 per cent in services.
C. Low Level of Capital Formation:
The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
Since then there has been substantial increase in the rate of saving and investment in the developing countries. However, the quantity of capital per head is still very low in them and therefore productivity remains low. For example, in India rate of investment has now (2012-13) risen to about 35 per cent but it still remains a poor country with low level of productivity. This is because as a result of rapid population growth, capital per head is still very low.
The low level of capital formation in a developing country is due both to the weakness of the inducement to invest and to the low propensity and capacity to save. The rate of saving in developing countries is low primarily because of the low level of national income. In such an economy, the low level of per capita income limits the size of the market demand for manufacturing output which weakens the inducement to invest. The low level of investment also arises as a result of the lack of dynamic entrepreneurship which was regarded by Schumpeter as the focal point in the process of economic development.
At the root of capital deficiency is the shortage of savings. The level of per capita income being quite low, most of it is spent on satisfying the bare necessities of life, leaving a very little margin of income for capital accumulation. Even with an increase in the level of individual incomes in a developing economy, there does not usually follow a higher rate of accumulation because of the tendency to copy the higher levels of consumption prevailing in the advanced countries. Nurkse has called this as “demonstration effect”. It is usually caused through media like films, television or through foreign visits.
Generally, there exist large inequalities in the distribution of incomes in developing countries. This should have resulted in a greater volume of savings available for capital formation. But most often the sector in which the greatest concentration of incomes lies is the one which derives its income primarily from non-entrepreneurial sources such as unearned incomes of rents, interests and monopoly profits.
The attitudes and social values of this sector are often such that it is prone to use its income for ‘conspicuous consumption’, investment in land and real estate, speculative transactions, inventory accumulation and hoarding of gold and jewellery. If these surpluses are channelled into productive investment, they would tend to increase substantially the level of capital formation.
Onyechukwu Blossom Chinyere
2019/242141
blossomchinyere29@gmail.com
(1)
The term “Third World” arose during the Cold War to define countries that remained non-aligned with either NATO or the Communist Bloc. The United States, Western European nations, and their allies represented the First World, while the Soviet Union, China, Cuba, and their allies represented the Second World. This terminology provided a way of broadly categorizing the nations of the Earth into three groups based on social, political, cultural, and economic divisions. The Third World was normally seen to include many countries with colonial pasts in Africa, Latin America, Oceania, and Asia. It was also sometimes taken as synonymous with countries in the Non-Aligned Movement. In the so-called dependency theory of thinkers like Raul Prebisch, Walter Rodney, Theotonio dos Santos, and Andre Gunder Frank, the Third World has also been connected to the world economic division as “periphery” countries in the world system that is dominated by the “core” countries.
The Third World, or developing nations of Asia, Africa, and Latin America, are generally characterized as poor, with economies distorted by their reliance on the export of primary products to developed countries in exchange for finished products.These nations also tend to have high rates of illiteracy, disease, population growth, and unstable governments. The term “third world” was originally intended to distinguish the nonaligned nations that gained independence from colonial rule beginning after World War II from the Western nations and from those that formed the former Eastern Bloc, and sometimes more specifically from the United States and from the former Soviet Union (the first and second worlds, respectively). For the most part, the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerging industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.
Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. [1] Some countries in the Communist Bloc, such as Cuba, were often regarded as “third world.” Because many Third World countries were extremely poor and non-industrialized, it became a stereotype to refer to poor countries as “Third World countries,” yet the “Third World” term is also often taken to include newly industrialized countries like Brazil or China. Historically, some European countries were part of the non-aligned movement, and a few were and are very prosperous, including Austria, Ireland, and Switzerland.
Many third-world countries believed they could successfully court both the communist and capitalist nations of the world and develop key economic partnerships without necessarily falling under their direct influence. In practice, this plan did not work out quite so well; many third-world nations were exploited or undermined by the two superpowers, which feared these supposedly neutral nations were in danger of falling into alignment with the enemy. After World War II, the First and Second Worlds struggled to expand their respective spheres of influence into the Third World. The militaries and intelligence services of the United States and the Soviet Union worked both secretly and overtly to influence governments in the Third World, with mixed success.
(2)
The most widely used measure of the comparative status of socioeconomic development is presented by the United Nations Development Program (UNDP) in its annual series of Human Development Reports. The centerpiece of these reports, which were initiated in 1990, is the construction and refinement of their informative Human Development Index (HDI). The HDI attempts to rank all countries on a scale of 0 (lowest human development) to 1 (highest human development) based on three goals or end products of development: longevity as measured by life expectancy at birth; knowledge as measured by a weighted average of adult literacy (two-thirds) and gross school enrollment ratio (one-third); and standard of living as measured by real per capita gross domestic product adjusted for the differing purchasing power parity of each country’s currency to reflect cost of living and for the assumption of diminishing marginal utility of income; Using these three measures of development and applying a formula to data for 177 countries, the HDI ranks countries into four groups: low human development (0.0 to 0.499), medium human development (0.50 to 0.799), high human development (0.80 to 0.90), and very high human development (0.90 to 1.0).
(3)
1. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
2. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
3. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
4. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
5. Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector.
4. Women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.
Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income-earning opportunities.
Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty.
1. The general definition of the Third World can be traced back to the history that nations positioned as neutral and independent during the Cold War were considered as Third World Countries, and normally these countries are defined by high poverty rates, lack of resources, and unstable financial standing.
The global economy is undergoing a profound and momentous shift. The first half of the 21st century will undoubtedly be dominated by the consequences of a new Asian dynamism. China is likely to become the second biggest economy in the world by 2016, and India the third largest by 2035. A cluster of other countries in the Asian region, such as Thailand and Vietnam, are also growing rapidly. These newly dynamic Asian economies can collectively be characterised as the “Asian Drivers of Global Change”. The economic processes they engender are likely to radically transform regional and global economic, political and social interactions and to have a major impact on the environment. This is critical “disruption” to the global economic and political order that has held sway for the past five decades. It is reshaping the world as we know it, heralding a new “Global-Asian” era. The two key Asian Driver economies are China and India. But they reflect very different growth paths. China is integrated into an outward-oriented regional economy, involving fine divisions of labour in many sectors. By contrast (at least until now) India represents much more of a “standalone” economic system.
China and India are influential for one key reason; these markets are so colossal that engagement with them is essential for any global business wishing to survive in the new world economy. They are, to some extent, the battleground where major global businesses have their key encounter with competitors. China and India are two of the major regional powers in Asia, and are the two most populous countries and among the fastest growing major economies in the world. Growth in diplomatic and economic influence has increased the significance of their bilateral relationship.
Both countries have put feeding their millions ahead of border disputes, and they can’t turn the clock back on liberalization. They have too much to lose by not working together. This doesn’t suggest that a lovefest will ensue; it only implies less hostility and suspicion between two fast-maturing nations.
China and India have taken different routes to enter the world economy, and that has resulted in their gaining complementary strengths. Some business leaders have learned to make use of both countries’ resources and capabilities, as I shall show in the following pages. In the process, they have become globally competitive. Multinational companies will only lose if they don’t take advantage of the complementarities between the two economies. If they embrace both countries, however, they can tap into diverse strengths almost as easily as Chinese and Indian companies will.
China and India are both regarded as economic and political drivers of the international economy, particularly in the trade arena and in regards to global governance. Their economic engagement with developing countries and regions entails interactions in the areas of labour, human rights, international relations, security and environmental sustainability. The potential threats are mostly associated with trade and financial flows and with the social and political implications of China’s financial outflows.
Nevertheless, in the midst of the recent global economic crises, China and India’s demand for developing country goods proved to be a cushion to the declining flows of resources from advanced nations. China and India influence global economic and political dynamics and can provide alternative sources of development assistance for developing countries. They can also provide a number of potential lessons for other developing countries.
Labour market peculiarities are key in understanding how economic growth has led to absorption of surplus labour in these economies — particularly in China. Here surplus labour from the traditional agricultural sector has shifted to the progressive industrial sector, thus promoting industrialization.
Characteristics of China’s labour market include an extensive rural-urban inequity, rapid rural-urban migration (despite various restrictions) and high and rising real wages in the formal sectors. In this respect, it has much in common with other emerging economies, such as South Africa. It is instructive however, to draw out the differences between China and South Africa, as this may hold some general lessons for the role of labour market dynamics in economic growth.
2. The Human Development Index (HDI):
The HDI is a composite statistic calculated from the:
Life expectancy index
Education index
Mean years of schooling index
Expected years of schooling index
Income index
Countries are ranked based on their score and split into categories that suggest how well developed they are.
Infant mortality rate:
Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.
Literacy rate:
The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.
Purchasing Power Parity (PPP):
Comparing countries is difficult because of exchange rates and differences in cost of living. Calculating GDP per capita at PPP is important as it gives a more accurate idea of standard of living in countries with very different prices due to their different economic statuses.
Multidimensional Poverty Index:
Replacing the Human Poverty Index in 2010, the MPI seeks to measure levels of deprivation amongst the poorest countries. As mentioned above, HDI does not give the full picture of a country and there are different areas to focus on in rich and poor countries. The MPI adds to HDI information for the poorest countries.
The MPI looks at the same three dimensions as the HDI; health, education and living standards.
Gender Empowerment Index:
A measure of gender equality in countries, it looks at whether women are able to actively participate in economic and political life and be involved in decision-making. There are three basic indicators: proportion of seats held by women in national parliaments, percentage of women in economic decision making positions, and female share of income.
3. Low Per Capita Real Income:
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty:
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth:
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment:
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture:
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness:
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy:
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures:
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity:
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving:
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
NAME: OZONWU CHUKWUEBUKA SILAS
REG NO:2019/244686
DEPT: ECONOMICS
EMAIL: ozonwuchukwuebuka@gmail.com
1. The rise of China and India as major world powers promises to test the established global order in the coming decades. As the two powers grow, they are bound to change the current international system—with profound implications for themselves, the United States, and the world. And whether they agree on the changes to be made, especially when it comes to their relationship with the West,will influence the system’s future character. A close examination of Chinese and Indian perspectives on the fundamentals of the emerging international order reveals that Sino- Indian differences on many issues of both bilateral and global significance are stark.
China and India tend to agree on the importance of state sovereignty and the need to reform global governance institutions to reflect the new balance of power. They also share a strong commitment to the open economic order that has allowed both powers to flourish in the global marketplace. But the two diverge on many details of the international system, such as the future viability of the Non-Proliferation Treaty and the role of state-owned enterprises in by fostering globalization.
Both China and India want a stable Asia-Pacific that will allow them to sustain their economic prosperity, but they perceive threats very differently and have divergent priorities. Importantly, India seeks a resolute American presence in the region to hedge against possible Chinese excesses, while China sees the United States as significantly complicating its pursuit of its regional goals and worries about American containment attempts.
Beijing and New Delhi rely heavily on open sea lines of communication, and as a result, they both support the current maritime security regime. However, their interpretations as to its provisions have occasionally diverged. In space, China enjoys significant advantages over India and has emphasized the military dimensions of its program, while New Delhi has only recently begun developing space-based military technology. Both countries are just beginning to wrestle with the difficult task of forming cybersecurity policies, but they have already acted to limit objectionable or illegal activities online. In striking the balance between online freedom and social stability, India has encountered a higher degree of opprobrium in the public sphere than its counterpart.
Chinese and Indian approaches to both energy and the environment broadly converge. Because India and China face a rising domestic demand for energy, they heavily rely on foreign suppliers of energy resources. This has prompted both governments to seek more efficient power sources and to secure their presence in overseas energy markets. On environmental policy, the two countries focus on primarily local and short-term concerns that must be balanced with the need for economic growth.
The concurrent rise of China and India represents a geopolitical event of historic proportions. Rarely has the global system witnessed the reemergence of two major powers simultaneously—states that possess large populations, have ancient and storied histories, abut each other spatially and politically, and dominate the geographic environs within which they are located. Their return to center stage after several centuries of imperial domination thus presages the reincarnation of an earlier era in Asian geopolitics when China and India were among the most important concentrations of political power in the international system since the fall of Rome. The parallel revival of these two nations also dramatically exemplifies Asia’s resurgence in the global system. Although there has been a steady shift in the concentration of capabilities from West to East ever since the end of World War II, this transformation took a decisive turn when the smaller, early-industrializing nations of Asia—Japan, South Korea, Taiwan, and Singapore—were joined by the large, continental-sized states of China and India. The recent renaissance of China and India is owed in large measure to their productive integration into the liberal economic order built and sustained by American hegemony in the postwar period. As a result of that integration, both of these giants have experienced dramatic levels of economic growth in recent decades. China’s economic performance, for example, has been simply meteoric, exceeding even the impressive record set by the first generation of Asian tigers between 1960 and 1990. During the last thirty or so years, China has demonstrated average real growth in excess of 9 percent annually, with growth rates touching 13– 14 percent in peak years.
As a result, China’s per capita income rose by more than 6 percent every year from 1978 to 2003—much faster than that ofany other Asian country, significantly better than the 1.8 percent per year in Western Europe and the United States, and four times as fast as the world average. This feat has made the Chinese economy—in purchasing-power-parity terms—the second largest in the world with a 2010 gross domestic product (GDP) of roughly $10 trillion. Many scholars believe that China will likely overtake the United States in GDP size at some point during the first half of this century. India’s economic performance has not yet matched China’s in either intensity or longevity. New Delhi’s economic reforms, which have produced India’s recent spurt in growth, began only in the early 1990s, over a decade after China’s. To date, these reforms have been neither comprehensive nor complete, and they have been hampered by the contestation inherent in India’s democratic politics, the complexity of the Indian federal system, the lack of elite consensus on critical policy issues, and the persistence of important rent- bseeking entities within the national polity.
2. Many of the new goals address conditions where current trends are negative, such as climate change, global arms expenditures, deforestation, desertification, waste production, or road trafficdeaths.
We reproduce below the list of SDGs as presented by the UN Statistical Commission in their 2019 Progress Report together with a limited number of
statistical indicators that provide an overview of global and regional trends.
SDG 1: End poverty in all its forms everywhere, eradicate extreme poverty for all people everywhere, achieve substantial social protectioncoverage.
SDG 2: End hunger, achieve food security and improved nutrition, and promote sustainable agriculture, end hunger, end stunting in children under five years
of age, increase government investment in agriculture.
SDG 3: Ensure healthy lives and promote well- being for all at all ages, increase the coverage of births attended by skilled health personnel, end preventable deaths of children under five years of age, end the epidemic of HIV infections, end the epidemic of malaria, increase vaccine coverage of targetpopulation.
SDG 4: Ensure inclusive and equitable quality education and promote lifelong opportunities for all, ensure that all children achieve proficiency in reading at the end of primary education, ensure that all children achieve proficiency in mathematics at the end of primary education, reduce the out-of-school rate for primary school children.
SDG 5: Achieve gender equality and empower all women and girls, eliminate child marriage, ensure women’s full participation and equal opportunities in the labor force.
SDG 6: Ensure availability and sustainable management of water and sanitation for all, achieve universal and equitable access to safely managed drinking water services, achieve universal and equitable access to safely managed sanitation services, ensure the sustainability of water use by decreasing the level of freshwater withdrawal.
SDG 7: Ensure access to affordable, reliable, sustainable and modern energy for all, achieve universal access to electricity, increase the share of renewable energy in the final energy consumption, double the global rate of improvement in energy efficiency.
SDG 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all, sustain per capita economic growth, achieve full and productive employment for all, substantially reduce the proportion of youth not in employment, education, or training.
SDG 9: Build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation, significantly raise industry’s share of GDP, reduce CO emissions per unit of GDP, substantially increase the expenditure for scientific research and development.
SDG 10: Reduce inequality within and among countries, reduce inequality within countries.
SDG 11: Make cities and human settlements inclusive, safe, resilient, and sustainable, reduce the proportion of urban population living in slums.
SDG 12: Ensure sustainable consumption and production patterns, reduce the domestic material consumption per unit of GDP ratio.
SDG 13: Take urgent action to combat climate change and its impacts, reduce global greenhouse gas emission.
SDG 14: Conserve and sustainably use the oceans, seas, and marine resources for sustainable development, restore the proportion of fish stocks within biologically sustainable levels, increase coverage of marine protected areas.
SDG 15: Protect, restore, and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reserve land degradation and halt biodiversity loss, ensure the conservation, restoration, and sustainable use of forest areas, protect and prevent the extinction of threatened species.
SDG 16: Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels, significantly reduce all forms of violence, including homicides, reduce the proportion of unsentenced detainees, increase the proportion of countries with independent national human rights institutions.
SDG 17: Strengthen the means of implementation and revitalize the global partnership for sustainable development, ensure implementation of the net official development assistance commitments by donor countries, enhance access to technology by increasing fixed internet broadband subscriptions, increase proportion of countries with a
national statistical plan. Notice that the indicators do in no instance exhaust the possible coverage of the goal. Many more indicators could easily be mentioned (actually, the Statistical Commission defines no less than 169 “targets” characterizing the SDGs). In its annual progress report, however, the Commission limits itself to a few ordinal measures of each SDG such as “high progress,” “moderate progress or “low progress.”
3. The countries in which the process of development has started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Here we will discuss thebdifferent characteristics of developing countries of the world.
Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio- political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
i. Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
ii. Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
iii. Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
iv. The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non- availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
V. Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Vi. Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Vii. Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Viii. Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructurebis also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Ix. Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
X. High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and
remittance earnings that have limited utility to expand the economy.
The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore. In a summary, the major characteristics of developing countries are presented in the following table.
NAME: EGBE BLESSING NGOZIKA
REG. NO: 2019/241024
COURSE: ECONOMICS
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
THE “third world” of the developing and, for the most part, newly independent nations is, for Communists of all brands and allegiances, both a crucial arena of political competition against the “imperialists” and the center of their hopes for new victories.* Yet there are important differences in the way Moscow and Peking view these opportunities. The Soviet leadership be- lieves that the many poor and ambitious countries will, later if not sooner, decide that Communism offers them the best prospects for raising their status in the world. Chinese Communist propaganda, on the other hand, calls for an ever more militant struggle of “na tional liberation” to expel the “imperialists” from Asia, Africa, and Latin America and to unite the developing countries under Peking’s leadership. Thus, in addition to being a principal focus of Communist hopes and efforts, the question of the “correct” policy toward the third world has unleashed deep-set rivalries and antagonisms between and within ruling and nonruling Communist parties alike.
In just over a decade the Communist regimes have accumulated a wide range of practical experience in cultivating the favor and seeking the potential allegiance of former colonial countries andother less developed areas. As a result of that experience, some Soviet analysts and spokesmen are now beginning to dilute the massive certainties of dogma with somewhat larger doses of empiri cal confusion and guesswork. Because the Soviet Union is the longest established, most powerful, and most widely active of the
Communist regimes, in this brief review special attention will befocussed on Soviet perceptions and policies, with only summary reference to the differing or opposing policies pursued by Com munist China, Yugoslavia, and Cuba.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
1. Quality of Life Index
The Quality of Life Index (IKH) or Physical Qualty of life Index (PQLI) is used to measure people’s welfare and prosperity. Macroeconomic indexes cannot provide a picture of people’s welfare in measuring economic success. For example, the national income of a nation can continue to grow, but without increasing social welfare.
The quality of life index is calculated based on:
(1) the average life expectancy at the age of one year,
(2) infant mortality rate, and
(3) numerical literacy.
In the quality of life index, the average life expectancy and infant mortality rate can simultaneously describe the nutritional status of children and mothers, health status, and family environment which is directly related to family welfare. Education is measured by literacy rate, which can describe the number of people who have access to education as a result of development. This variable describes the welfare of the community, because the high economic status of the family will affect the educational status of its members. By the makers, this index is considered as the best way to measure the quality of human beings as a result of development, in addition to per capita income as a measure of human quantity.
2. Human Development Index ( Human Development Index )
The United Nations Development Program (UNDP) has developed other development indicators, in addition to several existing indicators. The basic idea underlying this index is the importance of paying attention to the quality of human resources. According to UNDP, development should be aimed at developing human resources. In this understanding, development can be defined as a process that aims to develop options that can be made by humans. This is based on the assumption that improving the quality of human resources will be followed by the opening of various options and opportunities to determine the path of human life freely.
Economic growth is considered an important factor in human life, but it will not automatically affect the improvement of human dignity and dignity. In this connection, there are three components that are considered most decisive in development, long and healthy life, the acquisition and development of knowledge, and the improvement of access to a better life. This index is created by combining three components. The three components are:
(1). average life expectancy at birth,
(2). average educational attainment at the elementary, junior high and high school levels,
(3). per capita income calculated based on Purchasing Power Parity .
Human development is closely related to increasing human capabilities which can be summarized in increasing knowledge, attitude and skills , in addition to the health status of all family members and their environment.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
NAME:UGWU OLUCHI JACINTHA
MATRIC NO: 2020/250319(2/3)
DEPARTMENT: SOCIAL SCIENCE EDUCATION
UNIT: EDUCATION/ECONOMICS
EMAIL: Oluchiugwu194@gmail.com
Common characteristics of developing nations are;
(1) Low level of living; A nation that is developing have a low level of living, because the resources are not available there to meet their need due to low capital income.
(2) There will be high rate of population; A developing nations have a high rate of population growth due to lack of job and opportunities, leading to high rate of crime in the society.
(3) High and increase in the level of unemployment;This lead to increase in unemployment as a result of no labour forces in the nation and low standard of economy.
(4) Low level of Productivity; Developing nations have a problem of low productivity due to lack of man power to manage the resources and corrupt leaders that will embezzled the resources all to their self’s.
(5) Traditional and rural social structure; This lead to the people depending solely on agriculture, and other primary product, leaving other areas of the economy. It also lead to poverty in this traditional and rural areas, Becca they only focuses on developing local and agricultural product.
The common characteristics of developing nations are;
(1) low level of living; a Nation that is developing have a low level of living, because the resources are not available there to meet their need due to low capital income.
(2) there will be high rate of population; a developing nations have a high rate of population growth due to lack of job and opportunities, leading to high rate of crime in the society.
(3) high and increase in the level of unemployment; this lead to increase in unemployment as a result of no labour forces in the nation and low standard of economy .
(4) low level of productive; developing nation have a problem of low productivity due to lack of man power to manage the resources, and corrupt leaders that will embezzled the resources all to their self’s.
(5) traditional and rural social structure; this lead to the people depending solely on agriculture, and other primary product, leaving other areas of the economy.
It also lead to poverty in this traditional and rural areas, Becca they only focuses on developing local and agricultural product.