Differences in economic development
| English | Chinese | Pinyin |
|---|---|---|
| development | 发展 | fā zhǎn |
| developed | 发达的 | fā dá de |
| income per head | 人均收入 | rén jūn shōu rù |
| developing | 发展中的 | fā zhǎn zhōng de |
| infrastructure | 基础设施 | jī chǔ shè shī |
| productivity | 生产率 | shēng chǎn lǜ |
| foreign investment | 外国投资 | wài guó tóu zī |
| aid | 援助 | yuán zhù |
Why some countries are richer
- A child born in one country may expect a long, prosperous life; one born elsewhere faces poverty and short life expectancy.
- Economics asks why development 发展 differs so much.
Development chain lab
Follow how policy and resources can change living standards.
Compared with developing countries, developed countries typically have:
Developed economies have higher income, health and education.
Developing countries tend to have faster population growth than developed ones.
Higher birth rates are typical of developing economies.
Measuring development
- Developed 发达的 countries: high income per head 人均收入, good health and education, advanced industry.
- Developing 发展中的 countries: lower income per head, faster population growth, more farming.
A developed economy: high incomes support a modern city of offices, finance and services
Which help explain why a country is more developed? (Select all that apply.)
Capital, human capital and stability drive development.
A skilled and healthy workforce is more ______, raising development.
Productivity is the key link between human capital and development.
Why countries differ
- Resources and capital: natural resources, machines, infrastructure 基础设施.
- Education and health: a skilled, healthy workforce is more productive.
- Stability and trade: peace, good government and access to world markets all help.
The Human Development Index combines three things — income (GNI per head), education (years of schooling) and health (life expectancy) — into one number
Which is most likely to raise a country's development over time?
Investment in capital and human capital raises productivity.
How development can improve
- Investment in capital, education and health raises productivity 生产率.
- Trade, foreign investment 外国投资 and aid 援助 can speed growth — if used well.
Worked example. Several Asian economies grew rapidly by investing heavily in education and manufacturing for export — turning a low-income farming economy into a high-income industrial one within a generation.
Developed vs developing countries
You've got it
- developed = high income/health/education; developing = lower income, more farming
- differences come from capital, education, health, stability and trade
- development improves through investment, trade and well-used aid