Question

Ch 7 Please back up your point of view with credible sources.

3. What are some of the growth strategies that have been employed by the developing nations? How successful are these strategies? Provide examples by associating the strategies applied with developing countries

4. Describe the flying-geese pattern of economic growth? What is the rationale behind such idiomatic expression? Which countries have pursued this strategy? Evaluate their success rate

Answer 1

3)A developing country is one which has low per  capita income, large population, poor health facilities,low literacy rate etc.Growth depends on four factors-human resources, capital formation natural resources,technology.In developing countries GDP grows and population also grows. The first strategy is to curb population. The second strategy is to develop human resources by controlling diseases and improving health, reducing illiteracy, and giving training to people.Thirdly using the natural resources to the fullest like using land , will increase nation's output.Farmers should use modern farming techniques. It is not possible for a nation to provide white collar jobs to everyone and so providing land to youth's help the nation.Fourthly, technological development and innovations should be made. Developing nations face challenges like political opposition, needfor technology,capital intensive market etc.For development it is necessary to have foreign direct investment.

China has been successful in eradicating poverty but South Asia and Sub saharan Africa has been less successful in eradicating poverty.Despite progress in other fields , in these countries the level of poverty reduction is very slow.Due to large population ,unemployment still exist.For eg, Asian countries with huge population like India and China invest human capital for productive purposes.

4)The flying geese pattern is a theory of industrial development.This has become quite important throughout the world as a way of describing fast economic growth in east Asia.It was launched in Japan in1930 by Kaname Akamatsu.It says how a country can become developed in a short span of time.The underdeveloped countries use labor intensive technique of production in home market and then export goods to foreign countries.This leads to economic development.

The rationale is that underdeveloped nations of the world will move successfully behind the advanced industrial nations in a wild geese flying pattern. The lead goose is Japan. South korea, Hongkong,Thailand , Malaysia,Indonesia, Singapore, Taiwan , China , Vietnam , Phillipines are the countries which followed.Success rate of this countries in economic growth is good.