International trade plunged by half to two-thirds, as did personal income, tax revenue, prices and profits. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by roughly 60 percent. Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as farming, mining and logging suffered the most.
Such consequences for the rural-urban migration are over population of public space and an increased level of corruption. According to the analysis by the Federal office of statistics in Nigeria report indicates that poverty has been in existence since the evolution of Nigeria as a country, the poverty level was at 27% in 1980 and rose up to 46 percent by 1985. After a moderate drop in 1992 to 43%, poverty escalated to 66% in 1996 (Osagie, 2007). Some factors were responsible for the increment in the poverty level in Nigeria such as deserting agriculture for petroleum economy, the mismanagement of the country’s resources by corrupt government officials and prolonged military dictatorship in the country (Igbuzor, 2006). Poverty is pervading throughout the country, while poverty
The Great Depression was caused by an overproduction of agricultural goods which led to an increase on imports and falling prices in the Chinese market. It also included widespread fighting among warlords. A quote that represents how hard the Great Depression was for industrial business owners is, “but it was the time of widespread fighting among warlords, who all levied heavy taxes. This, combined with the effects of the Great Depression, made it an extremely difficult time to run a textile factory” (Chang 104). Also, prior to the establishment of the Renminbi becoming the national currency in 1935, there were many different forms of payment.
The Bing-Bang was a trigger for the agricultural revolution. Indeed, the Black Death of 1348 was one of the greatest pandemics in human history. It killed 75 to 200 million people in mid-14th century. Population in England and the Low Countries recovered slowly from the plague. Smaller population needed less grain to survive, and wages had increased according to the Domar thesis.
Among the water allocated to agriculture sector, 90% is used for irrigation. At the same time, the rapidly growing industrial sector and the increasingly wealthy urban population started to compete with the agricultural sector for water (Deng et al, 2008). There is a conflict between China’s thirsty farms and cities, and now it has turned to be a water crisis since China has 20% of the world’s population but only 5–7% of the global freshwater resources. As a result, surface supplies became increasingly stressed, and more groundwater are exploited which led to a decline of water table in
Mao ruled for over twenty-seven years and during that time, “he had doomed China’s people to become some of the poorest on the planet”. In 1976 Mao died and Deng Xiaoping took over as China’s leader. Like Mao, Deng focused first on the countryside and gave out land to farmers and paid the farmers how much they grew a year this lead to farmers being able to pick which crops they wanted to farm and Deng have the farmers to pay taxes instead of handing over a third of their crops. Since the majority of China’s population was farmers this gave a boost to their economic standing and an opportunity for a better
Drought, followed by crop shortages and starvation, resulted in twenty great famines between 1675 and 1837. Peasant unrest grew, and by the late eighteenth century, mass protests over taxes and food shortages had become commonplace. Newly landless families became tenant farmers, while the displaced rural poor moved into the cities. As the fortunes of previously well-to-do families declined, others moved in to accumulate land, and a new, wealthy farming class emerged. Those people who benefited were able to diversify production and to hire laborers, while others were left discontented.
Now with booming economies both made a dramatic change. China opened up its economy and took the steps necessary before India. This has caused China to be a step ahead of India by thirteen years in the development as a nation and this is still seen today. China was destroyed as a nation by communism in a thirty-year period with his “Great Leap Forward” program. Mao caused a thirty-year famine because of the decrease in agriculture when farmers were forced to give up land.
A recent study of the Brazilian Amazon predicts that up to 90% of extinctions will occur in the next 40 years (WWF). One of the most dangerous and unsettling effects of deforestation is the loss of animal and plant species due to their loss of habitat. It was estimated in 2003, 70% of Earth’s land animals and plants live in forests, and many cannot survive the
When most of the poor people were exploited and harassed by the British officials, treating them as good as slaves. Addition to that, famines and diseases caused widespread destruction. This led to the birth of poverty at a large scale in India. And now India’s poverty has only increased. According to an Oxford study, one third of the world’s poor people live in India.