econ 101 writing 3

econ 101 writing 3 - encounter many problems such as...

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Justin Foster Professor Balaban-604 720098689 1 November 2011 An article that relates to the government sector of the economy that I found was, Catching up is so very hard to do. This article talks about how successful developing economies have been in the last decade, such as China and India doubling their wealth in the past 10 years. This growth has made these nations much wealthier and has taken millions of people out of poverty. But even with many of the emerging markets growing faster than even America’s economy, this rapid growth is soon to slow down. As these developing economies grow richer and stronger, their expansion will slow down because they won’t be able to rely on capital spending and cheap labor as much as they used to. These economies will start to require more and more skilled workers as opposed to the cheap, unskilled labor they could use in the past. Emerging economies are likely to soon
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Unformatted text preview: encounter many problems such as excessive credit, inflation, and government spending, which are some of the effects of the development of a nation. The GDP of these nations will start to increase at a lower rate than the rapid growth they had in the past, due to these problems. This article relates to our Econ 101 class because it talks about the government sector of economics. In class we have talked about developing nations and reasons for their success, as well as reasons they could fail. GDP was also a big topic that we covered in class, and is also mentioned in this article when it talks about how the rates at which GDP are increasing will start to slow down. I found this article helpful because it clearly explained why developing countries have been successful, but also why their success won’t continue at the rate it is now. I pledge to uphold the Honor Code: ______________________...
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