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Economies of Asia

China, India, Japan, & North Korea. Economies of Asia. China—Overview . World’s largest exporter GDP per capita = $9,800 Primary exports: electrical and other machinery, clothing, textiles Top export partners: Hong Kong, U.S., Japan

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Economies of Asia

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  1. China, India, Japan, & North Korea Economies of Asia

  2. China—Overview • World’s largest exporter • GDP per capita = $9,800 • Primary exports: electrical and other machinery, clothing, textiles • Top export partners: Hong Kong, U.S., Japan • Primary imports: electrical and other machinery, oil/fuel, medical equipment, cars • Top import partners: South Korea, Japan, Taiwan, U.S.

  3. China—How do they decide…

  4. India—Overview • Diverse economy • English-speaking population major exporter in various technology-based fields • GDP per capita = $4,000 (rising gradually) • GDP breakdown—services (66%), industry (17%), agriculture (~17%) • Primary exports: petroleum products, precious stones, machinery, iron & steel • Top export partners: UAE, US, China • Primary imports: oil, precious stones, machinery • Top import partners: China, UAE, Saudi Arabia

  5. India—How do they decide…

  6. Japan—Overview • Economy top priority of Shinzo Abe & the Diet after several economic recessions • GDP per capita: $37,100 • Primary exports: vehicles (& parts), plastic materials, power generating/conducting materials • Top export partners: China, U.S., South Korea • Primary imports: petroleum, natural gas, clothing, semiconductors, coal, audio/visual equip. • Top import partners: China (21.3%), U.S. (8.8 %), Australia

  7. Japan—How do they decide…

  8. North Korea—Overview • Military spending reduces availability of resources for civilians • GDP per capita: $1,800 • Primary exports: minerals, metal products, manufactured goods (weapons), textiles, agriculture & fish products • Top export partners: China & South Korea • Primary imports: petroleum, coal, machinery & equipment, textiles, grain • Top import partners: China & South Korea

  9. North Korea—How do they decide…

  10. Where are they on the continuum? Command Economy Market Economy 55.75—India 1—North Korea 52.5—China 72.4—Japan

  11. Asian Economies—Quick Quiz • Market • Command • China • Japan • India • North Korea • Economic system w/ almost full government control • Economic system driven by supply and demand • Country that is closest to full market • Country with the most government control • Country that is considered the world’s leading exporter • Country with a diverse economy, becoming more market-based

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