economic growth in southern and eastern asia ss7e10: the student will describe factors that...
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Economic Growth in Southern and Eastern Asia
SS7E10: The student will describe factors that influence economic
growth and examine their presence or absence in India,
China, and Japan
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Quick Quiz: Factors that influence economic growth
• Human Capital• Natural Resources• Capital• Entrepreneurship
a.Raw materials that come from the land
b.Factories, technology, machinery
c.People who perform labor
d.Taking a risk to start a business
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Investments Pay Off
Investments in Human Capital and Capital lead to a higher GDP!!!!!!!!!!!!!
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India’s Human Capital
• Number of schools has grown in the past 20 years
• Overall literacy rate is 60%, but 95% for children 10-14 years old
• English is taught in all schools• Many are skilled in information
technology – “outsourcing” has become a major practice in India
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India’s Capital Investment
• Neglected to invest in country’s infrastructure
• Terrible road construction• Frequent power outages• Airports, railways, and power plants
have suffered
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India’s Natural Resources
• Has very fertile land • Good water supply• Important crops – rice and wheat• Forests• Coal Reserves
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India’s Entrepreneurs
• Entrepreneurship is increasing!!• India’s government supports new
business owners• Government provides training and
facilities
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China’s Human Capital
• Has improved educational system• Number of college students has grown• Many students are getting engineering
degrees (More engineering degrees)• Studies show engineering degrees = a
growing economy• China has also invested in technical
schools to train workers
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China’s Capital
• Money has been used to help with manufacturing
• Manufacturing is half of China’s GDP• Country also has dependable water
services, electricity, and transportation
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China’s Natural Resources
• Coal• Iron Ore• Petroleum• Natural Gas• Land for industry• Rivers for industry• Not much farmland
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China’s Entrepreneurship
• Entrepreneurship has grown dramatically
• Private business is the fastest growing segment of the economy
• Government helps fund small business • Welcomes investment from foreign
countries
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Japan’s Human Capital
• Has a high emphasis on education• Students take entrance exams to get
into high schools and universities• Labor force is very highly educated and
a major reason for economic success
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Japan’s Capital
• Country has a history of investing in new technology
• Tax breaks are given to individuals and corporations who have had high rates of savings
• Savings have been used for new factories and machinery
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Japan’s Natural Resources
• Very little farmland and natural resources
• Imports raw materials needed for industry
• Fishing industry is large in Japan• Country uses its educated workforce and
capital investment to overcome it lack of natural resources
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Japan’s Entrepreneurship
• Low rate of entrepreneurship• Japanese companies offer a “job for life”
to its employees• Workers take pride in their position in a
company• Entrepreneurship is seen as “risky” and
discouraged in Japan