Development and Under development factory
Development and Under development factory Description Development of East Asia and the underdevelopment of Sub-Saharan Africa. I want this article with an introduction and conclusion and the writer should put the question as a (subtitle) and then answer it .. More importantly, the number of pages are 4 without cover page write an essay that explains how some or all of these factors (as many as you can) contribute to the development of East Asia and the underdevelopment ofSub-Saharan Africa. This involves knowing what the different factors mean and then explaining how they contribute to development or underdevelopment. This “knowing” comes from reading the articles and the “explainin comes from listening in class How many factors should you cover? It’s better to cover the few that you know real well, that you know for sure, rather than cover a larger number of those that you do not understand or do not understand well Here are some factors that help explain. the rise of the East Asian NICS Finance, Capital, Banking Capital controls & transfers Technology & Technology Transfer Market Access Protectionism Sub-contracting Government subsidies, incentives, price directives Bureaucratic authoritarianism Competition Labor, Labor unions syndicates Corporate organization (conglomerate, corporation, or family business) Private ownership (as opposed to government ownership) I found these in the articles assigned: (1) Gereffi, (2) Amsden, (3) Bardhan the underdevelopment of Africa: Corruption Misrule, predatory governance Colonial legacy Western depredations/destructions Slave trade Cold War manipulation by U.S. & U.S.S.R. No Marshall Plan for rebuilding U Lack of sufficient foreign assistance Lack of sufficient investment Lack of financial resources; banks Debt obligation Education & literacy Shortage of technical & managerial skills. Geography (1) no ports & sea-based trade (2) no navigable rivers No transportation; market access Dispersed settlements (no infrastructure? Isolated from markets (poor market access) Disease: AIDS, Malaria Environmental problems; droughts Depleted soils Low life expectancy Market & financial reforms Low urbanization rates I found these in the Sachs article assigned for our class. Several of these repeat themselves and/or overlap. i attached files , please do not use any outside sources.
Development and Underdevelopment: The Case of East Asia and Sub-Saharan Africa
The economic growth and development of East Asia, specifically the emergence of newly industrialized countries (NICs), and the persistent underdevelopment of Sub-Saharan Africa (SSA) have been topics of interest and debate among scholars and policymakers for decades. The economic success of East Asian countries, including Japan, South Korea, Taiwan, and Singapore, has been largely attributed to a combination of favorable policies and conditions, such as strategic government intervention, export-oriented industrialization, and investment in education and technology. On the other hand, SSA countries continue to face significant challenges, including poverty, political instability, and economic stagnation, despite decades of foreign aid and development assistance. This essay aims to explore the factors that contribute to the development of East Asia and the underdevelopment of SSA.
Factors Contributing to the Development of East Asia
Finance, Capital, and Banking: The availability of finance and capital is essential for economic development. East Asian countries have been successful in mobilizing domestic savings and foreign investment to finance their growth. The government played an active role in channeling funds to priority sectors, such as infrastructure, technology, and education. Moreover, the establishment of efficient banking systems and financial markets facilitated the allocation of resources and provided credit for businesses and individuals.
Technology and Technology Transfer: The adoption and creation of technology have been crucial for the success of East Asian countries. They invested in education and research to develop technological capabilities and created policies that promoted the transfer of technology from foreign firms. Additionally, the establishment of technology parks and industrial clusters facilitated knowledge sharing and collaboration among businesses.
Market Access: East Asian countries pursued export-oriented industrialization policies that allowed them to access global markets and benefit from economies of scale. They also benefited from preferential trade agreements and the removal of trade barriers, which facilitated their integration into the global economy.
Protectionism: While East Asian countries pursued export-oriented policies, they also adopted protectionist measures to shield their domestic industries from foreign competition. For instance, they used tariff barriers and import substitution policies to promote the growth of domestic industries and protect them from foreign competition.
Government Intervention: The role of government intervention in promoting economic development is significant in East Asia. Governments pursued strategic policies, such as industrial policies and investment in education and technology, that facilitated economic growth. Moreover, governments provided subsidies, incentives, and price directives to promote priority sectors and businesses.
Corporate Organization: East Asian countries have adopted various forms of corporate organization, including conglomerates, corporations, and family businesses, which have contributed to their economic success. These forms of organization facilitated economies of scale, provided access to capital, and enabled collaboration and cooperation among businesses.
Factors Contributing to the Underdevelopment of Sub-Saharan Africa
Colonial Legacy: The legacy of colonialism has had a lasting impact on the economic development of SSA countries. Colonizers exploited resources and created extractive institutions that perpetuated poverty and underdevelopment.
Lack of Investment and Financial Resources: SSA countries have struggled to attract investment and access financial resources to finance their development. High levels of debt, corruption, and political instability have discouraged foreign investors and hindered domestic investment.
Education and Skills: The lack of education and skills is a significant barrier to economic development in SSA countries. The education system is underfunded, and there is a shortage of qualified teachers and technical and managerial skills.
Geography and Infrastructure: The geography of SSA countries, including the lack of ports, navigable rivers, and transportation infrastructure, has hindered their integration into global markets. Additionally, the dispersed settlements and isolation from markets have limited their access to markets and economic opportunities.
Disease and Environmental Problems: SSA countries have been plagued by diseases, including HIV/AIDS and malaria, which have had a devastating impact on their populations and economies. Additionally, environmental