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Asian Government and Economics

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by

Trey Coggins

on 26 March 2015

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Transcript of Asian Government and Economics

Governments and Economic Systems of Asia
India
Federal Republic
even though the central gov shares power with states, the central gov has a much tighter control over states than we have here in the USA
They have a president, but Prime Minister is the leader. PM chosen by the winning party in Parliament.
(1) What to produce?
Since 1991, India has slowly allowed the markets to open up to private sector domestic and foreign businesses.

The majority of the population relies on subsistence agriculture as a means of survival.

There is a lot of bureaucracy and corruption involved in setting up and operating business.
How to produce?
India is increasing its oversight of intellectual and private property rights, but legal challenges are fraught with bureaucracy.

India has an increasingly educated workforce particularly in areas of engineering and computer science.

A complex, corrupt, and hefty tax system can sometimes make operating a business in India difficult.
For whom to produce?
Food production is largely for domestic consumers with many citizens producing food mainly for their own family consumption.

The software and business process outsourcing industries are rapidly expanding export markets for private Indian companies.
Where would you place India on the economic continuum?
The People's Republic of China
Republic, but true power lies with Communist Party
President and Premier
CCP is only party. Chinese Communist Party
No real personal freedoms
Citizens cannot criticize government
What to produce?
40 %
of the Chinese economy is still based in
state-run industries
60%
of the economy is based on the
private sector
in where producers and consumers make production decisions
How to produce?
The
many inefficiencies
found
in
the
state-run

industries
, particularly in the area of
agriculture
, limit China’s growth.

In the
private

market
, the speed of economic growth has caused Chinese officials to have increasing
difficulty
monitoring consumer
safety

and
environmental
pollution
.
For whom to produce?
China requires food production
to meet self-sufficiency level
for the nation
and
only the surplus
may be
exported
.

In reality, there is
not enough
proper
storage of food
to meet the self-sufficiency requirement.

China exports
a large amount of
manufactured goods
. However, the
expanding middle class
in China is seen as a
growth market
for both Chinese and foreign companies.
Place China on the Economic Continuum
Japan
Constitutional Monarchy
Democracy
Emperor is a symbol of state
True power is with Prime Minister
Universal voting at 20
Emphasis on personal freedom
What to produce?
Japan’s economy is
primarily

market
driven with supply and demand determining what will be produced.

The few industries that are highly
government
-
controlled
, such as
agriculture
,
have
much
lower

productivity
rates than those industries controlled by market forces.
How to produce?
Private businesses determine their own production processes in most of the economy.
For whom to produce?
Japan’s population enjoys a
high

standard

of

living
and creates a
strong
domestic
market
for goods and services.

The efficiency of Japan’s production and its
reputation

for

quality
products/services has made it a
major

exporter
.
Where would you place Japan on the market continuum?
North Korea
What to produce?
Although there have been some small market reforms recently, the majority of legal economic
activities
are centrally
controlled

by
the
government
.

Due to natural disaster and inefficient government-run industries, North Korea is a
major

recipient
of food and basic service
aid
from Non-Governmental Organizations (NGO) and foreign nations.

The U.S. provides the people of North Korea with a large amount of aid. Like in many highly centralized economies, there is a
large

underground
economy that runs on a more
market
based
system
.
How to produce?

Production decisions and methods are primarily determined by the government.
For whom to produce?

Approximately
one

fourth
of all domestic
output
is devoted to maintaining the
military
.

This severely
limits
the
amount
of
goods
and services that make it
to

the

rest

of

the

people
of North Korea.

North Korea produces natural resources and manufactured goods for export.
North Korea is a Communist State. Where would you place them on the economic continuum?
Full transcript