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South and East Asia Economic Systems

South and East Asia Economic Systems. China. Type of Economy Mixed, some market What to produce? c onsumer products, agriculture 60% Private owned, 40% state owned How to produce? Four Modernizations-increase in investment of capital goods-industrial and agricultural equipment

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South and East Asia Economic Systems

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  1. South and East Asia Economic Systems

  2. China Type of Economy • Mixed, some market What to produce? • consumer products, agriculture • 60% Private owned, 40% state owned How to produce? • Four Modernizations-increase in investment of capital goods-industrial and agricultural equipment • Problems-pollution For whom to produce? • Exports manufactured goods to other countries • Food production for Chinese citizens • Problems-overpopulation

  3. India Type of Economy • Mixed, more market What to produce? • Agriculture, technology, service industry • Problems-corruption in starting a business How to produce? • Increasing educated workforce in computer science • Modernizing farming techniques and industry • Problems-pollution For whom to produce? • Technology and service industry for other countries • Food production for Indian citizens • Problems-overpopulation, poverty, low literacy rate

  4. Japan Type of Economy • Mixed, mostly market What to produce? • Does not have many natural resources, so specializes in technology and industry to be profitable • Must import food How to produce? • Companies invest in capital goods • Investment in human capital-high literacy rate, strong work ethic For whom to produce? • Major exporter due to high quality goods • Population has high standard of living • Competition from China and South Korea

  5. North Korea Type of Economy • Mostly Command What to produce? • Government decides • Low food production because of government run farms -receives aid from other countries • Some heavy industry How to produce? • Government decides For whom to produce? • Exports natural resources • Problems -Spends a large amount on military(limiting goods to North Korean people) • UN sanctions due to nuclear weapon production

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