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EconNews Online is South-Western College Publishing's service to provide summaries of the latest economics news stories. Review the brief summaries and, for stories of interest, select the full summary. |
| DEVELOPING AND TRANSITIONAL ECONOMIES | |
| Title | Brief Summary |
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The Chinese economy continues to grow at neck break speed. In the last 30 years, no major country in the world has experienced economic growth like China and no other country has been able to sustain such growth year after year. (Updated February, 2007) |
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The World Trade Organization (WTO) is negotiating a deal that would eliminate almost all trade barriers that rich nations impose on the exports of the world's 50 poorest nations. Currently, tariffs on these poor nations' exports keep their goods from being competitive on the world market. (Updated March, 2006) |
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Since outsourcing has become the prevailing strategy for lowering manufacturing and service costs, some firms have discovered Vietnam. The country is pushing to provide a boost to its economy by attracting foreign firms. The Vietnamese government is providing computer training to people across the nation to improve its ability to attract new business. (Updated November, 2004) |
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Economists all over the world worry and warn about continuous deflation and how such sustained across-the-board price decreases can affect their economies. The Hong Kong economy provides a case in point of the disastrous consequences that years of falling prices can create. The good news is that Hong Kong appears to have returned to a period of rising prices because of the Hong Kong economy's link to mainland China. (Updated October 2004) |
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Chinese economic growth has moved at a torrid pace since the Chinese government began moving its economy towards market capitalism. The Chinese economy grew at a 9.6 percent pace from April through June, somewhat slower than many expected, indicting that the economy may finally be cooling down. (Updated September 2004) |
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Six months after the
Bush Administration ended major military actions in Iraq, the economy has
stagnated, and Iraq's economy may have shrunk. The regime of Saddam Hussein
built a huge military infrastructure while basically neglecting civilian
investment. Today's Iraq lacks the prerequisites to private investment that
would greatly aid in the development of a sound economy. (Updated January 4, 2004) |
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In spite of staunch
political backing by the richer nations of the world, a vast amount of resources
both in terms of intellect and dollars, the IMF and the World Bank have
come under increasing criticism. Responding to their critics, both institutions
have been undertaking reforms. (Updated May 1, 2002) |
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China's entry into
the World Trade Organization is providing additional motivation for that
country to develop a modern banking system. Unless China modernizes its
banking system, domestic production and banking services could substantially
diminish, reducing China's economic grow. (Updated February 13, 2002) |
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China's leaders have
made economic development in the western provinces a priority and they are
trying to convince the Hong Kong business barons to invest there. (Updated July 1, 2001) |
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Are debt repayments one
of the major impediments to economic growth for the world's poorest countries?
Many believe this to be the case and have been protesting outside the offices
of the World Bank. (Updated June 1, 2001) |
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The Czech Republic's
transition from a communist to a capitalist system has not been without
problems. After about $8.6 billion in bad bank loans, Czech banks were purchased
by foreign banks or dissolved and the Czech Republic was forced to create
Konsolidacni Banka to handle the bad debts accumulated in those first years
of capitalism. (Updated February 1, 2001) |
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After 10 years of ethnic
fighting, war, mismanagement and political chaos, Yugoslavia's economy is
in shambles and poverty and misery have replaced what was once a comfortable
living for many of the country's inhabitants. (Updated December 1, 2000) |
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When the Asian financial
crisis spread, many economists speculated that China would be on the list,
especially considering the state of the Chinese banking system. But the
growth rate in China increased, suggesting that China's chief economic planner
has managed to avoid the malady that plagued the rest of Southeast Asia. (Updated May 1, 2000) |
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Many Third World countries
have borrowed so heavily in the past that repayment consumes most of their
budgets. Proponents of debt relief for these countries argue that if funds
now directed toward repayments were used for improving schools, health care
or basic sanitation, then the countries would have a chance at economic
development. (Updated May 1, 2000) |
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Developing countries
have had difficulty attracting foreign investment, but that may change.
Venture capitalist firms, which typically look for opportunities in places
like Silicon Valley, have started searching Latin America for investment
opportunities. (Updated February 1, 2000) |
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