1 / 19

Chapter 7 Section 5:

Chapter 7 Section 5: . Economic & Social Development: Lands of Wealth & Poverty (Review of GRQ’s 1 & 2). Question #1 - The largest concentrations of petroleum…. 2 Areas of concentration: Iranian/Arabian sedimentary basin (Saudi Arabia,Iraq , Iran, Oman, PG states)

orpah
Download Presentation

Chapter 7 Section 5:

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Chapter 7 Section 5: Economic & Social Development: Lands of Wealth & Poverty (Review of GRQ’s 1 & 2)

  2. Question #1 - The largest concentrations of petroleum… • 2 Areas of concentration: • Iranian/Arabian sedimentary basin (Saudi Arabia,Iraq, Iran, Oman, PG states) • North African fields (Algeria, Libya, Egypt)

  3. Question #2… • With only 7% of the world’s population this region holds 68% of the world’s proven oil reserves. Saudi Arabia has 21,000,000 residents who live atop 26% of the planet’s known oil supplies!

  4. Question #3… • Nations lacking in petroleum… • Morocco • Sudan • Israel • Jordan • Lebanon • Turkey

  5. Question #4… • In addition to their large oil reserves, the wealth of many of these nations is compounded by their relatively small populations. • Bahrain’s population: 701,000 • Qatar’s population:596,000 • Kuwait’s population:2,275,000 • UAE’s population: 3,108,000

  6. Question #5: Petrodollar distribution in oil-rich nations… • Much of the oil wealth remains concentrated in the hands of a small “elite” • However, petrodollars (revenue from the sale of petroleum) provide a higher standard of living and other benefits for the rest of the population as well (schools, medical facilities, low-cost housing, modernized agriculture)

  7. Question 5 continued… • Bahrain’s per capita GDP:($17,640) • Qatar’s per capita GDP($11,600) • Kuwait’s per capita GDP:($20,910) • UAE’s per capita GDP:($17,965)

  8. The region’s wealthy elite… • The King of Saudi Arabia made the list of the world’s wealthiest people (3rd richest head of state) with a net worth of over $20 billion • 4th richest head of state-Sheikh Zayed UAE • 7th = Emir of Kuwait • (#1 = King of Thailand; #2 = Sultan of Brunei – both in SE Asia)

  9. Question #6…Israel’s high standard of living… • Israel’s per capita GDP: $19,730 • They’ve invested large amounts of capital in a highly productive ag. And ind. Base; • Global center for high-tech computer & telecommunications products; • Many US & European industrial development & production centers; • Entrepreneurial business culture

  10. Question #7: Turkey’s diverse economy… • Produces varied agricultural & industrial goods for export (cotton, tobacco, wheat, fruit, textiles, tobacco) • Most important tourism destination in the region • Maintains close ties with the West (like Israel)

  11. Effects of regional poverty… • Poorer countries in the region have low literacy rates, lack access to modern services & infrastructure) • “Brain Drain” the brightest young people in the poverty stricken nations leave those countries for better jobs in other parts of the world • Yemen is the poorest country in the region (per capita GDP = $ 360) Many work outside their country.

  12. OPEC…Question 8 • Organization of • Petroleum • Exporting • Countries • (www.opec.org) • OPEC ensures this region will play a role in affecting world oil supply and therefore prices…however…it doesn’t have as much clout as it used to. Many oil rich Arab nations are now allowing foreign investment and/or establishing partnerships with foreign corporations increasing the regions integration into the global economy.

  13. GRQ #2 Q1 – factors contributing to poverty • SUDAN: civil war resulted in the emergence of S. Sudan as a separate nation; both Sudanese nations have serious, ongoing political instability problems that have created serious poverty for their citizens. There is significant oil near the border & China is an interested customer, but the 2 nations can’t agree on how to split/share the oil.

  14. GRQ #2 Q1 – factors contributing to poverty • MOROCCO: still undeveloped & poor in Atlas Mt. Region, but in urban areas economic reform & privatization have led to economic growth. Unfortunately, “BRAIN DRAIN” has hurt their chances for future growth (happens when smart, young people leave the country for better opportunities elsewhere); • EGYPT: had significant economic growth under Pres. Mubarak in the 90’s, however, the gap between rich & poor was huge & a big contributing factor to Mubarak’s overthrow & the Arab Spring revolt of 2011. Egypt is currently under military control & it looks less and less like the democratic reforms that were the basis of their revolution will actually occur.

  15. Q#2: Discrepancies among social indicators…

  16. Q#3: status of women

  17. Q#4: GLOBALIZATION – positives & negatives

  18. Q# 5 – Tourism • Tourism links the region to the global economy; • Tourism magnets include ancient historical sites & globally significant religious localities. Also, beaches & climate draw tourists as well. • Resort hotels, which once were lacking, are now growing in response to tourism demand.

  19. Question 5 continued • Tourism brings in big dollars to the region & is expected to grow as a % of the overall regional economy throughout the 21st century. It is threatened, however, by regional political unrest & instability. • Also – Tourism has produced a local underclass of poorly paid service workers & is widening the gap between the wealthy & the poor.

More Related