Question

In: Economics

Identify the vast demand for natural resources in the East Asian realm, the types of resources...

Identify the vast demand for natural resources in the East Asian realm, the types of resources that are utilized, and how the high demand has impacted the economies and histories of East Asian countries.

Solutions

Expert Solution

China is a formidable country. In land area only the United States, Canada and Russia are larger. So, it's probably not shocking it has some amazing natural resources as well. And what's more, it has the world's largest population, ready to exploit those resources. China's own land is a natural resource, but maybe not as much as you might think. There's not that much land per human, after all, and a lot of the land is mountainous and not as useful. Considering how big the country is, the amount of farmland is relatively small.

Yet China does have plenty of other resources: it has 175 million hectares of land, plenty of water with more rivers and lakes than other countries in the world, stunning natural scenery and wildlife that can be used to encourage tourism, as well as a lot of oil, natural gas, coal, uranium, and other metals. Coal is potentially China's most valuable natural resource, and has been used to its fullest by the nation in recent years. China also has the greatest hydroelectric capacity in the world.

When it comes to natural resources, Japan is much like the polar opposite of China: they barely have any. This is particularly true of fossil fuels such as oil, coal, and natural gas. However, one thing Japan does have is the hydroelectric capacity. Japan doesn't even have a lot of metals-only what copper, iron, and lead it once had been using up.

Where Japan has resources, such as forests and fish, demand is high in the region, and powerful exports are not sufficient to move. Japan also owns very fertile land and produces huge amounts of agricultural products per acre. Japan is more concerned with non-natural capital, however: telecommunications, highly skilled labor and technical service

Out of China there are major product revolutions, due mainly to their natural resources and the products that they make with them. China is the world's leading exporter of dollar value goods. The whole of the new European Union does not even beat them. This is a big product transfer. And the income from those exports allow them to import more advanced and high-tech goods from elsewhere. China is a booming economy powered by natural resource exports and their goods, and that makes people want to invest and start businesses there. That capital transfer is enormous and important.

And wherever businesses are founded, and people move from place to place. People are moving to start those companies, seeing great opportunities for money making. And people are going to work for those businesses. Japan does not have natural resources to sell, but natural resources can have a huge impact on product flow-even if they don't have the resources themselves, they have to import those resources. Japan is a highly developed nation and so its people are demanding all sorts of things to bring into the world. The same holds true for South Korea.


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