Growth Across Different Countries Economics Growth Average world GDP was only 250 dollar per capita per year as per the estimates of DeLong during the 1800s. Even now‚ the GDP per capita is less than five hundred dollar per year in many developing countries of Africa. Conversely‚ the countries which are under OECD or the Organization for Economic Cooperation and Development‚ comprising of Japan‚ U.S.‚ Canada and various other states of Western Europe‚ have more than twenty thousand dollar average
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Lending financial aid to poor countries has become a trend of rich countries since the second half of the 20th century. In my opinion‚ it doesn’t matter whether rich countries should lend poor ones financial aid or not but the way poor countries utilize this capital source because financial aid has both pros and cons. For the first reason‚ financial aid is a helpful source to poor countries. It provides huge capital for these nations to develop infrastructure‚ improve education as well as health
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of travel in its earliest days. However‚ over the years‚ with the growing number of people travelling around the world (for different purposes)‚ the word ‘travel’ has acquired a new meaning. It no longer refers to the traditional purpose of holidaying but has emerged as one of the major industries of the world and contributes to a large extent to the economic development of the country‚ Mauritius being one of them. On the international level‚ it is believed that tourism originated since the 12th
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there’s no guarantee as to what number of year we might inhabit this earth. Those of us fortunate enough to be born in a rich country such as Australia are expected to outlive those who are born and live in a 3rd world country. Unfortunately those who live in 3rd world countries don’t have access to the medical facilities‚ public services and general hygiene that we are privileged to have in our own country. While our life expectancies may vary depending on what country we live out our lives one thing
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Rich and Poor Countries.:. Introduction: Who are considered the rich and poor countries of the world? Most of the wealthy countries are in the northern hemisphere plus Australia and Japan‚ which is found in the Southern hemisphere. The following countries are mostly considered the wealthiest and most educated with a high standard of living; Canada‚ USA‚ Britain‚ and Germany‚ are just a few of the most developed and wealthy countries in the world. Examples of the poorest countries are; Bangladesh
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Globalisation has benefited the richest countries at the expense of the poorest. Globalisation is the transportation of trades‚ ideas‚ technology and capital from national economies to international economy. It promotes free trade‚ free market‚ capital flow‚ communication and allows more competition. The process is possible through recent advances in telecommunication‚ for example most of US and British service sector relocate its call centre facilities to low wage countries such as India‚ where they earn
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and India Introduction Developing country means the countries compared with the developed countries have lower degree of development of the economic and social aspects. Developing countries have a vast territory‚ large population‚ vast market and rich natural resources. There are many strategic places‚ in terms of economic‚ trade‚ or from the military‚ occupied an important strategic position. China is the largest developing country. Developed country Refers to a higher level of economic development
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Poverty is an increasing problem in our world today. A report by the National Welfare found that 17.2 percent of Canadians live below the poverty line in 1998. It is however‚ measured differently in developing and developed countries. People who struggle financially in countries like Canada or even the United States‚ when compared to people living in third world countries are considered above the poverty line. Income at developing countries falls at less than one dollar per person a day‚ which led
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Assess the view that poor countries will always stay poor [33 marks] The view that poor countries will always stay poor is one that is highly debated in the world today‚ many activists such as fair trade‚ say that due to exploitation of poor countries by the western world‚ the poor countries will stay poor‚ as they are not getting fair prices for the good that they export and sell to the western world. One way in which the view that poor countries will stay poor is supported is through dependency
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the country to develop is greatly undermined by debt crisis because the country is always involved in the repayment of the principle loans of the interests. This is a significant outflow of capital to finance debts. Excessive debt‚ burdens the poor nations since they are forced to drain away all the resources meant for development in order to finance their debts. Underdevelopment is worse when the money borrowed is embezzled hence ending up in private pockets which leads to the whole country repaying
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