TEST 1&2.docx - TEST 1 lecture 1(Overview of Asia and lecture 2(Middle income trap and in tutorial 2(Topic 1 Economic growth in Asia urbanization

TEST 1&2.docx - TEST 1 lecture 1(Overview of Asia and...

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TEST 1 lecture 1(Overview of Asia) and lecture 2 (Middle income trap) and in tutorial 2 (Topic 1 Economic growth in Asia, urbanization and the emergence of a large middle class; Topic 2 Middle Income Trap) 1. What are the factors that are contributing to the growth of the middle class in Asia? Discuss how the rapid expansion of middle class is likely to aid not only the growth of the Asian economy but also the global economy? middle class in Asia general salaried jobs, greater propensity to migration, propensity to seek more expensive medical care, fewer children, invest more in health, nutrition and schooling Broad-based economic growth, drawing in large numbers of young people with higher education levels and secure jobs, many policies that are good for growth-fiscal discipline, sound monetary policies, improved infrastructure, reduced trade volatility may foster middle class, reducing income inequality deepening Asian economic integration, while all Asian economies are also closely linked to wider global economy, because of increase in intra-Asian trade, production networks and multinationals, labour migration across Asian and financial market integration.
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