As discussed in class, what major region of the world has one country that went
ID: 294438 • Letter: A
Question
As discussed in class, what major region of the world has one country that went from having one of the strongest economies in the world to a 20 year recession (e.g. the lost score) and another country that has emerged as the strongest economy in the world and rivals the U relations? North America Europe Russia & its neighboring countries Middle East / Southwest Asia Continent of Africa South Asia/ Indian Subcontinent East Asia ? (1) Southeast Asia Pacific Realm Mexico & Central America South AmericaExplanation / Answer
Countries lies in East Asia.
•Japan's economy succumbed to one of the longest running economic crises in history after in the 1970s it produced the world's second-largest gross national product (GNP) after the United States and in 1980s it ranked first in GNP per capita worldwide. At the end in early 1990s it was sent into its now infamous lost decade, where economic expansion halted for more than 10 years. It experienced low growth and deflation during this time anf its stock markets recorded lowest.
•China has a centrally-planned closed economy from 1970s and manufacted and it went to export hub over the years. In the process it lifted half of its population out of poverty and become the second-largest economy on Earth. The Chinese economy has overtaken the U.S. economy in terms of GDP many a times. The Chinese economy has long been known for its strong growth. Other than economy China go hand in hand in any competition whether it be sports,education or business.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.