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Economics (1,590)
ECO100Y1 (438)
Jack Carr (32)

7 X-factors to improve the economy

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Jack Carr

April 1, 2009 Shifting R&D and computing in IT sector-in the world about a trillion is spent on R&D. In US, have 13 of a trillion. Now China is spending more on R&D than Japan, China had 0 R&D 10 years ago. Taiwan has more high-tech researchers than Britain, spends more on R&D than Canada or Britain. -chips and circuitry-in US and other industrial countries -semi-conductors-Asian countries -Samsung spent more than R&D 2007 than IBM China and India and other emerging countries are challenging japan, Taiwan and US in innovation and R&D Economic power will shift east to China and India, more share of world economic growth. @ Z:ZL} }}Z]2Z2}Z]L[Z7L}]Z } Anne Krueger-economic strategies of 50-[7]LZ]o]]}L]ZL]K}-substitution. First stage of economic development.- 2}[]L}oKL7]Lustrialization first nd 2 stage-market reform, agricultural sector is modernized and trade replaces import-substitution and protectionism Mandelson-how does Europe stand on trade -state of Africa is a scar on the conscience of the world, make 2005 a breakZ}2Z}Z}o[Z poor -supports development triad- trade, aid and debt relief, with emphasis on trade -pro-growth in Europe, want poverty reduction, wants free trade - L[K2] L72}Z]oo}LoZo]Z]ZL ZZry capacity to trade, international trade will only succeed if there is necessary capacities in developing countries such as: good government, sufficient overhead capital, basic education and health for the labor force, investment by domestic and foreign companies -if the features are there, then trade will lead to economic growth and poverty reduction 2 trade models -strategic trade-infant industry trade model of import substitution (Japan) -basic trade-market force trade through comparative advantage (Singapore) Mandelson supports free trade through market forces-In India, international trade has improved through market forces, has lifted 300 million people out of poverty in the last 15 years -south south (developing and developing)trade has some of the greatest trade barriers -China leads the way in strategic trade -agriculture and textiles (labor intensive) industries, Industrial countries have the greatest trade barriers to trade -Multi-fiber agreement Jquotas have been removed, China is likely going to be the lead exporter of ]oZL o}Z]L2}Z}o7}o}]L2 }L]Z[Z}]oo }K}K Z]L -other developing countries will lose their markets(Sri Lanka, Bangladesh)-switch in export levels
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