l4 ap economic groupings

Name that country!

Name the country – BLANKTY BLANK

2

3

1

4

5

8

96

7

10

Global Economic Groupings

How useful?

• How useful is the Brandt line?• Why do we still look at it and use it?• What are the problems with it

Limitations with the Brandt Line

• Limited MEDC / LEDC view of world. • Only focuses on the economic. What about all

the subsistence farmers in African nations? • Many emerging economies ‘in the middle’.

These have been poor in the past and are now relatively wealthy. E.g. Brazil

Limitations with the Core, Semi Periphery and periphery model

• Better but still quite simplistic. • Based in economic involvement. • The development of rich elite in some cities is

still not recognised e.g. Super rich in cities like Beijing.

Is there a better measure of development?

• The Human development index (HDI) is based on 3 main criteria (a composite);– GNP per person– Life expectancy– Educational

attainment (adult literacy & average number leaving school)

• World rankings here

Mix and Match Key Terms The difference in levels of economic and social well-being between the richest and poorest nations.

A measure of the financial value of all the goods and services produced in a territory (can be per person as well as well) A composite of three development factors; income per capita (person), life expectancy and adult literacy rate

A lack of wealth.

Poverty

Human development Index

Gross domestic produce

Development Gap

Global Wealth 2002 Global Wealth 2015

Global Wealth Growth Global Wealth Decline

Worldmapper Maps

1. Economic Groupings (p99)

1. Least Developed Countries2. Newly Industrialised Countries 3. Ex-Soviet states4. Organisation of petroleum exporting countries 5. Organisation for economic cooperation and development.

1. Least Developed Countries

2. Newly Industrialised Countries

3. Ex-Soviet States

4. OPEC

5. OECD

– In the world’s 50 poorest countries, average income is around $0.80 per day.

– About 60% of the poorest countries experienced civil conflict between 1990 and 2001.

– The gap between the richest and the poorest nations has grown.

– Initiatives such as fair trade are designed to ensure that people in the least developed countries gain a better share of global wealth.

– Animation here

Global Wealth

1. Economic GroupingsIn the past it was simple…

Economic development was the basis for dividing the world’s 193 countries GDP (gross domestic product ) and the Human Development Index (HDI). The World Bank uses per capita Gross National Income (GNI) as the basis of its classification. Using the World Bank classification, the world was broadly divided intotwo categories — ‘developed’ and ‘developing’. However, such an approach no longer works well.

2. Political Groupings

Countries, usually at similar development levels and in the same part of the world, agree to form trade blocs by signing international agreements.

These allow for tariff- and quota-free trade.

The World Trade Organization works to increase free trade between blocs.