4820ch9 - Market transitions and development...

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02/12/11 Market transitions and development. G.D.P., Per capita income, Industries and  Industrial production, Infrastructure,  Technological development and applications,  Health and Health care. Stages of development -- Traditional society;  Preindustrial;  Take-off; Drive to maturity; Age of  high mass consumption.
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02/12/11 03/09/98 Stages of Development The traditional society  - Mainly agricultural production, very little industry;  Poor infrastructure, low standard of living; No applications of technology;  Low per capita income and G.D.P.  (e.g.  Ghana, Bangladesh.) The preindustrial Society  - Technological applications in both agriculture  and industry increasing; Infrastructure developing; Standard of living rising;  Becoming more self-sufficient and heading towards excess.  (e.g.  Madagascar and Uganda) The takeoff Society  - Infrastructure and technology have been installed that  generate rapid expansion in production; Looking for international markets  and trade  (e.g.,  Thailand, and Malaysia). The industrializing Society  - Can produce any industrial or consumer  product; High level of international involvement; Modern technology  (although not new technology) applied to ind. and agri. Production  (e.g.  Mexico, China, India, and Brazil) . Fully industrialized Society  - High standard of living and discretionary  income; Rapid product innovation; Mass production and distribution  (e.g.,  U.S., Canada, Germany, Japan). 7
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02/12/11 Market transitions and development. Difficult to classify. Progression of N.I.C. Unbalanced growth or dual economies. Political instability and mismanagement.
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02/12/11 Big Emerging Markets Asia - ASEAN, CEA, India, South  Korea. Latin America - Mexico, Argentina,  Brazil. Africa - South Africa. Europe - Poland, Turkey
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02/12/11 Big Emerging Markets Physically large with significant populations. Strong growth rates. Undertaken significant programs of economic  reform. Big import markets. Bigger than Japan and the E.C. combined by  the year 2010 Growth potential for U.S. businesses.
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02/12/11 China
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02/12/11 China. Beginning in late 1978, a move towards market driven economy, but still  under communist control. High Growth Rate 10-11% per year (compounded) through most of 1990’s.  Currently ~ 9.0%. Second largest recipient of FDI (U.S. 1 st ) - Largest potential market in the  world Total ecomony of about $6.5 trillion, versus $11 trillion USA, though its  GDP per capita is around $5000, or what the US had 80 years ago or so.  Its economy will double in the next 8-10 years. It has generated $400 billion  in balance of payments surplus cash.
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