GDP per Capita: Highest
1900 2005
• #1 United Kingdom • #1 Luxembourg
• #2 Norway
• #2 New Zealand
• #3 Iceland
• #3 Australia • #4 Qatar
• #4 United States • #5 Switzerland
• #5 Belgium • #6 Ireland
• #7 Denmark
• #6 Netherlands
• #8 United States
• #7 Switzerland • #9 Sweden
• #8 Germany • #10 Netherlands
• #9 Denmark • # 13 UK
• # 16 Japan
• #10 Austria • # 18 France
• #11 France From Angus Maddison, The World Economy,
OECD, 2001; Nation Master.com
• #23 Japan
GDP per Capita: Lowest (2005)
1. Burundi
2. Ethiopia
3. Congo
4. Liberia
5. Malawi
6. Guinea-Bissau
7. Sierra Leone
8. Eritrea
9. Rwanda
10. Afghanistan
Source: The Economist, Pocket World in Figures, 2006, p. 28.
Developing World
• South
• LDCs
• Third World
–Latin America
–Asia
–Africa
Western Hemisphere Colonized
(current borders included)
Colonized Africa
Colonized Asia 1910
Middle East Colonized (roughly WWI)
http://www.npr.org/news/specials/mideast/the_west/colonies_map.html
Independence
• Latin America (by 1823)
• Middle East (after WW I)
• Africa and Asia (post-WW II)
Group Efforts
• NIEO
• UNCTAD
• Group of 77
• OPEC
East Asian Strategy
1. Japan as the Model
2. Business-Government Partnership
3. Open up the Economy to Foreign Investment
4. Exports!
5. Export Processing Zones
6. Building Home Companies
Four Tigers
• Hong Kong Singapore
• South Korea Taiwan
Tokyo 1945
Tokyo 50-60 Years later
Seoul, ROK
Singapore
Taipei, Taiwan
Hong Kong, China
Integrating into the World Economy
Parts
Unfinished imports Export exports
products Processing Finished
Zone
Components products
The Biggest of the
Big Emerging Markets
• China 1978
• Deng Xiaoping
Shanghai, China
Guangzhou, China
Indian Reform 1991
P. V. N. Rao Manmohan Singh
PM 1991-1996 Min of Finance 91-96
PM 2004-present
China and India and Asian Growth
• China 1.3 billion
• India 1.0 billion
• 2.6 billion of 7 billion humans; statistically the
largest economic reform program in world history
• Add Southeast Asia:
• 3.5 billion entering the modern world economy
• Tallest Buildings in the world today
• The Future
A Long Way to Go
Poverty in India
Fastest Growing Economies
1983-1993 1997-2007
1. China 1. Equatorial Guinea
2. Thailand
3. Botswana
2. Turkmenistan
4. Taiwan 3. Azerbaijan
5. South Korea 4. Myanmar
6. Macau
5. Armenia
7. Chile
8. Singapore 6. Qatar
9. Indonesia 7. China
10. Malaysia 8. Angola
Source: The Economist, Pocket World
in Figures, 2006 and 2010, p. 32- 9. Cambodia
33.
10. Bhutan