Developing, emerging and developed economies (Theme 3)

3.1.1, 3.1.5

measures of development

gdp per head, hdi (expected v average years of schooling, gdp per head and life expectancy), inequality, sustainability etc

what are the disadvantages of using gdp?

IQ SPEED: Inequality, quality of life, shadow economy, purchasing power parity, exchange rates, externalities, data collection issues

what do emerging markets mean for firms?

this refers to goods and services, employment and capital

what does the potential of an emerging market depend on?

political state, trade agreements, culture and language, skill level, infrastructure, target market, competition

what are some statistics about china?

1.4 billion, most gdp at ppp, gini = 0.385, hdi = 0.788, low inflation rates (below 1%)

what sort of policies do china have?

looser monetary policy, incentives to buy property, technology spending

other additional points on china:

different language and culture, poor human rights record, increasing urbanisation, strengthening trade relations with Africa (AfCFTA)

what are some statistics on india?

1.4 billion population, GDP growth rate near 7%, Gini coefficient of 0.35, HDI of 0.645, increases in digital technology usage. 15% under-nourished. 30% of under five children are underweight.

India's economy is characterized by a growing middle class, strong agricultural sector, and major IT industry.

what are some statistics on brazil?

211 million population, GDP growth rate around 5%, Gini coefficient of 0.53, HDI of 0.765, significant agricultural and mining sectors, major coffee producer. 22% of the population is obese. Literacy rate of about 95% (people over 15 can read and write). 24% corporate tax rate

what are some statistics on russia?

GDP growth rate around 3% (suffered briefly from recession), Gini coefficient of 0.37, HDI of 0.824, strong energy sector with major oil and gas reserves, significant urbanization in cities like Moscow and St. Petersburg. Inflation rate up to 10%, 2.5% unemployment rate

what are some other facts and points to consider regarding russia?

vulnerable to shocks, lots of natural resources, large wheat exports

trades with china and asia

sanctions have led to outdated technology and less fdi (many mncs have withdrawn from russia)

what are some pros and cons of using the euro?

Transaction costs fall, making trade easier. this should lead to gdp increasing in member countries.

However, it may also lead to a loss of national monetary policy autonomy and could exacerbate economic disparities between regions - this will depend on competition

therefore, it is best to use a shared currency and monetary policy in similar economic zones