Mercantilists contended that nations compete for business opportunities. Additionally, they emphasized that a government prospered only at the expense of other countries and concluded that a trade surplus provides the wealth necessary to support international standing and power of the state. Even though mercantilism had no recognized policies, the mercantilists possessed a sound belief in nationalism and most of all a balance or trade. With the end of the Dark Ages and the beginning of the Age of Exploration, the feudal system developed into nations that possessed significant areas of land and the population governed by a centralized state. Now, the people of the country did not have to depend on what it could produce, but, now it could take advantage of
Today, South Korean economy is exemplified by moderate inflation, low unemployment, and export surplus, and fairly equal distribution of income. a. Poverty and Employment Trends Approximately three decades ago, South Korean economy was among the ranks of the poorest countries in Africa and Asia. The 1997 crisis brought about massive lay-offs. Today, it has a per capita GDP seven times that of India’s and thirteen times that of North Korea’s.
Countries like Hong-Kong, Korea, Singapore and Taiwan went from being 3rd world countries to developed countries in less than 4 decades (GDP speaking). Botswana for instance was a success story in Africa with unprecedented growth rate in per capita income and GDP. According to Easterly, the main factor behind this is the participation, in the economy, of decentralized agents who were held accountable, without having western agents taking a significant share of their profits. The Democratic Republic of Congo has more natural resources than Botswana, but a miserable economy. Botswana, in contrast, has stability and above all,
Laos Poverty Rate Statistics and Facts Lao People's Democratic Republic is one of the fastest growing economies in the East Asia and Pacific region. The high growth rate is contributed to the introduction of economic reforms in the 1980s, when the government began decentralizing control and encouraging private enterprise. The proportion of poor individuals was 39% in the 1990s; the country successfully brought it down to 27.6% by 2010. Laos now has a booming tourism industry, more foreign investments in its natural resources, and exposure to global markets. But despite the progress its economy has been making, the nation remains to be one of the least developed and poorest in the world.
The Republic of Congo possesses the lowest GDP per capita in the world- therefore making it the poorest country in the world (Kaswala). According to the ‘Borgen Project’- Congo’s GDP per capita in 2012 was a mere $370 comparing to the richest country at the time (Quatar) with a GDP per capita of $100,000 (Kaswala). Now in 2015, Congo’s GDP has increased, but only by little. It now has a GDP per capita of $435 (Finance).
The higher the rating the better the financial position of the company. If we have taken the following four parameters to check the position of the company. a) Profit after tax- The net profit is the prime profitability ratio of any firm. The PAT of IndusInd has been stable for past many years, and hence been averagely rated. b) Gross NPAs- In these times of financial distress, IndusInd bank stands strong.
East Asian value of Enyo (a conscious use of silence) and Han (suppression of individual attributes), for instance, differ greatly from the tradition of India, where elaborate argumentations are common and celebrated (Sen, 1997). Cultural relativism and ‘Asian Values’ also undermine the rights of citizen and is often used by authoritarian governments to infringe the rights of their citizens in the name of said values, not for the
Ethiopia is one of sub-Saharan less developed countries, its economy heavily dependent on agriculture, which shares 43 % (UNDP, 2014) of the GDP. Accordingly, more than 80% of the population gains its livelihood directly or indirectly from agricultural production. In spite of the fact that the history of growth performance was poor, the country has experienced strong economic growth in the past decades.
Income inequality is the extent to which income is unevenly distributed among a given population. (Formson, 2011) argues that income inequalities remain high in Botswana, with 20% of the wealthiest earning 67% of the total national income, while 40% of the poorest earn only 2.8% of the national income. Income inequality is measured by the Gini coefficient-an economic tool that measures the extent to which income distribution among households and individuals differ. Botswana, which has been regarded as an “economic miracle”, is, according to latest figures from the World Bank, the third most unequal country in the world with a Gini index of 60.5. (Letsididi, 2015) Botswana has average income earnings of P4000 per month while those on Ipelegeng