POL343 WEEK 2 Chapter 2.docx

7 Pages
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Department
Political Science
Course Code
POL343Y5
Professor
Justin Bumgardner

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POL343 WEEK 2 Chapter 2 Our Crowded Planet Six Earth Changing Trends1process process of sustained economic growth reached most of the world humanity on average is getting richer in terms of income per person gap in average per person between rich world and much of the developing world is narrowing2 Population rising amplifies the overall growth of the economy not only are we producing more output on average many more of us by midcentury the scale of the worlds economic production is therefore likely to be several times that today3 Rise in income greatest in Asia half of worlds population lives there economic center of gravity in Asia4 people live is changing from rural to global urban civilizations crossed the midway path between urban and rural in 2008 5 overall human activity of physical envivornment is producing crisis 6 gap gap between the richest and the poorest is widening to proportions simply unimaginable bottom billion people stuck in poverty trap which has prevented them from experiencing economic growth center of crisis is SubSaharan Africa also has fastest population growth Six Trends that will Shape this CenturyAge of ConvergenceWorlds pop 1950 25 bil to 66 bil western asia 1950s 51mil to 220 mil in 2007 more economic growth to come because of income per person will rise though sustained economic growth is rising This is fueled by globalization networks of trade finance production technology and migration Convergence to describe processes by which poorer countries catch up with richer countries when the per capita income in poorer regions ries more rapidly in percentage terms than the per capita income of the richer regions so that the ratio of per capita incomes of the poor regions to the rich regions rise towards one the same standard of living Brazil China India achieve market based economic growth based on globalization they are not only to raise living standards but to narrow the per capita income gap with the rich countriesFuture economic convergence rule of thumb as the preconditions for convergence are met countries not stuck in poverty trap Todays leader US sustains average annual growth in per capita income of 17 percent with income level around 40000 The growth of followers depends
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