ECO. 361 Online Quiz/Discussion-20/1/2023 (Developing Country Issues)

ECO. 361 Online Quiz/Discussion-20/1/2023 (Developing Country Issues)

1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.

2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.

3. Clearly discuss and analyse the Common Characteristics of Developing Nations.

4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?

Related Posts

Comments 282

  1. Gabriel Eucharia , 2020/242679(2/3) economic/education says:

    The common characteristics of developing nations are;
    (1) low level of living; a Nation that is developing have a low level of living, because the resources are not available there to meet their need due to low capital income.
    (2) there will be high rate of population; a developing nations have a high rate of population growth due to lack of job and opportunities, leading to high rate of crime in the society.
    (3) high and increase in the level of unemployment; this lead to increase in unemployment as a result of no labour forces in the nation and low standard of economy .
    (4) low level of productive; developing nation have a problem of low productivity due to lack of man power to manage the resources, and corrupt leaders that will embezzled the resources all to their self’s.
    (5) traditional and rural social structure; this lead to the people depending solely on agriculture, and other primary product, leaving other areas of the economy.
    It also lead to poverty in this traditional and rural areas, Becca they only focuses on developing local and agricultural product.

  2. Ugwu Oluchi Jacintha says:

    NAME:UGWU OLUCHI JACINTHA
    MATRIC NO: 2020/250319(2/3)
    DEPARTMENT: SOCIAL SCIENCE EDUCATION
    UNIT: EDUCATION/ECONOMICS
    EMAIL: Oluchiugwu194@gmail.com

    Common characteristics of developing nations are;
    (1) Low level of living; A nation that is developing have a low level of living, because the resources are not available there to meet their need due to low capital income.
    (2) There will be high rate of population; A developing nations have a high rate of population growth due to lack of job and opportunities, leading to high rate of crime in the society.
    (3) High and increase in the level of unemployment;This lead to increase in unemployment as a result of no labour forces in the nation and low standard of economy.
    (4) Low level of Productivity; Developing nations have a problem of low productivity due to lack of man power to manage the resources and corrupt leaders that will embezzled the resources all to their self’s.
    (5) Traditional and rural social structure; This lead to the people depending solely on agriculture, and other primary product, leaving other areas of the economy. It also lead to poverty in this traditional and rural areas, Becca they only focuses on developing local and agricultural product.

  3. Egbe Blessing Ngozika says:

    NAME: EGBE BLESSING NGOZIKA
    REG. NO: 2019/241024
    COURSE: ECONOMICS

    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
    THE “third world” of the developing and, for the most part, newly independent nations is, for Communists of all brands and allegiances, both a crucial arena of political competition against the “imperialists” and the center of their hopes for new victories.* Yet there are important differences in the way Moscow and Peking view these opportunities. The Soviet leadership be- lieves that the many poor and ambitious countries will, later if not sooner, decide that Communism offers them the best prospects for raising their status in the world. Chinese Communist propaganda, on the other hand, calls for an ever more militant struggle of “na tional liberation” to expel the “imperialists” from Asia, Africa, and Latin America and to unite the developing countries under Peking’s leadership. Thus, in addition to being a principal focus of Communist hopes and efforts, the question of the “correct” policy toward the third world has unleashed deep-set rivalries and antagonisms between and within ruling and nonruling Communist parties alike.
    In just over a decade the Communist regimes have accumulated a wide range of practical experience in cultivating the favor and seeking the potential allegiance of former colonial countries andother less developed areas. As a result of that experience, some Soviet analysts and spokesmen are now beginning to dilute the massive certainties of dogma with somewhat larger doses of empiri cal confusion and guesswork. Because the Soviet Union is the longest established, most powerful, and most widely active of the
    Communist regimes, in this brief review special attention will befocussed on Soviet perceptions and policies, with only summary reference to the differing or opposing policies pursued by Com munist China, Yugoslavia, and Cuba.

    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
    1. Quality of Life Index

    The Quality of Life Index (IKH) or Physical Qualty of life Index (PQLI) is used to measure people’s welfare and prosperity. Macroeconomic indexes cannot provide a picture of people’s welfare in measuring economic success. For example, the national income of a nation can continue to grow, but without increasing social welfare.

    The quality of life index is calculated based on:

    (1) the average life expectancy at the age of one year,

    (2) infant mortality rate, and

    (3) numerical literacy.

    In the quality of life index, the average life expectancy and infant mortality rate can simultaneously describe the nutritional status of children and mothers, health status, and family environment which is directly related to family welfare. Education is measured by literacy rate, which can describe the number of people who have access to education as a result of development. This variable describes the welfare of the community, because the high economic status of the family will affect the educational status of its members. By the makers, this index is considered as the best way to measure the quality of human beings as a result of development, in addition to per capita income as a measure of human quantity.

    2. Human Development Index ( Human Development Index )

    The United Nations Development Program (UNDP) has developed other development indicators, in addition to several existing indicators. The basic idea underlying this index is the importance of paying attention to the quality of human resources. According to UNDP, development should be aimed at developing human resources. In this understanding, development can be defined as a process that aims to develop options that can be made by humans. This is based on the assumption that improving the quality of human resources will be followed by the opening of various options and opportunities to determine the path of human life freely.

    Economic growth is considered an important factor in human life, but it will not automatically affect the improvement of human dignity and dignity. In this connection, there are three components that are considered most decisive in development, long and healthy life, the acquisition and development of knowledge, and the improvement of access to a better life. This index is created by combining three components. The three components are:

    (1). average life expectancy at birth,

    (2). average educational attainment at the elementary, junior high and high school levels,

    (3). per capita income calculated based on Purchasing Power Parity .

    Human development is closely related to increasing human capabilities which can be summarized in increasing knowledge, attitude and skills , in addition to the health status of all family members and their environment.
    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
    Low Per Capita Real Income

    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    Mass Poverty

    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    Rapid Population Growth

    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

    The Problem of Unemployment and Underemployment

    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

    Excessive Dependence on Agriculture

    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    Technological Backwardness

    The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

    Dualistic Economy

    Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
    Lack of Infrastructures

    Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

    Lower Productivity

    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

    High Consumption and Low Saving

    In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

  4. OZONWU CHUKWUEBUKA SILAS says:

    NAME: OZONWU CHUKWUEBUKA SILAS
    REG NO:2019/244686
    DEPT: ECONOMICS
    EMAIL: ozonwuchukwuebuka@gmail.com

    1. The rise of China and India as major world powers promises to test the established global order in the coming decades. As the two powers grow, they are bound to change the current international system—with profound implications for themselves, the United States, and the world. And whether they agree on the changes to be made, especially when it comes to their relationship with the West,will influence the system’s future character. A close examination of Chinese and Indian perspectives on the fundamentals of the emerging international order reveals that Sino- Indian differences on many issues of both bilateral and global significance are stark.
    China and India tend to agree on the importance of state sovereignty and the need to reform global governance institutions to reflect the new balance of power. They also share a strong commitment to the open economic order that has allowed both powers to flourish in the global marketplace. But the two diverge on many details of the international system, such as the future viability of the Non-Proliferation Treaty and the role of state-owned enterprises in by fostering globalization.
    Both China and India want a stable Asia-Pacific that will allow them to sustain their economic prosperity, but they perceive threats very differently and have divergent priorities. Importantly, India seeks a resolute American presence in the region to hedge against possible Chinese excesses, while China sees the United States as significantly complicating its pursuit of its regional goals and worries about American containment attempts.
    Beijing and New Delhi rely heavily on open sea lines of communication, and as a result, they both support the current maritime security regime. However, their interpretations as to its provisions have occasionally diverged. In space, China enjoys significant advantages over India and has emphasized the military dimensions of its program, while New Delhi has only recently begun developing space-based military technology. Both countries are just beginning to wrestle with the difficult task of forming cybersecurity policies, but they have already acted to limit objectionable or illegal activities online. In striking the balance between online freedom and social stability, India has encountered a higher degree of opprobrium in the public sphere than its counterpart.
    Chinese and Indian approaches to both energy and the environment broadly converge. Because India and China face a rising domestic demand for energy, they heavily rely on foreign suppliers of energy resources. This has prompted both governments to seek more efficient power sources and to secure their presence in overseas energy markets. On environmental policy, the two countries focus on primarily local and short-term concerns that must be balanced with the need for economic growth.
    The concurrent rise of China and India represents a geopolitical event of historic proportions. Rarely has the global system witnessed the reemergence of two major powers simultaneously—states that possess large populations, have ancient and storied histories, abut each other spatially and politically, and dominate the geographic environs within which they are located. Their return to center stage after several centuries of imperial domination thus presages the reincarnation of an earlier era in Asian geopolitics when China and India were among the most important concentrations of political power in the international system since the fall of Rome. The parallel revival of these two nations also dramatically exemplifies Asia’s resurgence in the global system. Although there has been a steady shift in the concentration of capabilities from West to East ever since the end of World War II, this transformation took a decisive turn when the smaller, early-industrializing nations of Asia—Japan, South Korea, Taiwan, and Singapore—were joined by the large, continental-sized states of China and India. The recent renaissance of China and India is owed in large measure to their productive integration into the liberal economic order built and sustained by American hegemony in the postwar period. As a result of that integration, both of these giants have experienced dramatic levels of economic growth in recent decades. China’s economic performance, for example, has been simply meteoric, exceeding even the impressive record set by the first generation of Asian tigers between 1960 and 1990. During the last thirty or so years, China has demonstrated average real growth in excess of 9 percent annually, with growth rates touching 13– 14 percent in peak years.
    As a result, China’s per capita income rose by more than 6 percent every year from 1978 to 2003—much faster than that ofany other Asian country, significantly better than the 1.8 percent per year in Western Europe and the United States, and four times as fast as the world average. This feat has made the Chinese economy—in purchasing-power-parity terms—the second largest in the world with a 2010 gross domestic product (GDP) of roughly $10 trillion. Many scholars believe that China will likely overtake the United States in GDP size at some point during the first half of this century. India’s economic performance has not yet matched China’s in either intensity or longevity. New Delhi’s economic reforms, which have produced India’s recent spurt in growth, began only in the early 1990s, over a decade after China’s. To date, these reforms have been neither comprehensive nor complete, and they have been hampered by the contestation inherent in India’s democratic politics, the complexity of the Indian federal system, the lack of elite consensus on critical policy issues, and the persistence of important rent- bseeking entities within the national polity.
    2. Many of the new goals address conditions where current trends are negative, such as climate change, global arms expenditures, deforestation, desertification, waste production, or road trafficdeaths.
    We reproduce below the list of SDGs as presented by the UN Statistical Commission in their 2019 Progress Report together with a limited number of
    statistical indicators that provide an overview of global and regional trends.
    SDG 1: End poverty in all its forms everywhere, eradicate extreme poverty for all people everywhere, achieve substantial social protectioncoverage.
    SDG 2: End hunger, achieve food security and improved nutrition, and promote sustainable agriculture, end hunger, end stunting in children under five years
    of age, increase government investment in agriculture.
    SDG 3: Ensure healthy lives and promote well- being for all at all ages, increase the coverage of births attended by skilled health personnel, end preventable deaths of children under five years of age, end the epidemic of HIV infections, end the epidemic of malaria, increase vaccine coverage of targetpopulation.
    SDG 4: Ensure inclusive and equitable quality education and promote lifelong opportunities for all, ensure that all children achieve proficiency in reading at the end of primary education, ensure that all children achieve proficiency in mathematics at the end of primary education, reduce the out-of-school rate for primary school children.
    SDG 5: Achieve gender equality and empower all women and girls, eliminate child marriage, ensure women’s full participation and equal opportunities in the labor force.
    SDG 6: Ensure availability and sustainable management of water and sanitation for all, achieve universal and equitable access to safely managed drinking water services, achieve universal and equitable access to safely managed sanitation services, ensure the sustainability of water use by decreasing the level of freshwater withdrawal.
    SDG 7: Ensure access to affordable, reliable, sustainable and modern energy for all, achieve universal access to electricity, increase the share of renewable energy in the final energy consumption, double the global rate of improvement in energy efficiency.
    SDG 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all, sustain per capita economic growth, achieve full and productive employment for all, substantially reduce the proportion of youth not in employment, education, or training.
    SDG 9: Build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation, significantly raise industry’s share of GDP, reduce CO emissions per unit of GDP, substantially increase the expenditure for scientific research and development.
    SDG 10: Reduce inequality within and among countries, reduce inequality within countries.
    SDG 11: Make cities and human settlements inclusive, safe, resilient, and sustainable, reduce the proportion of urban population living in slums.
    SDG 12: Ensure sustainable consumption and production patterns, reduce the domestic material consumption per unit of GDP ratio.
    SDG 13: Take urgent action to combat climate change and its impacts, reduce global greenhouse gas emission.
    SDG 14: Conserve and sustainably use the oceans, seas, and marine resources for sustainable development, restore the proportion of fish stocks within biologically sustainable levels, increase coverage of marine protected areas.
    SDG 15: Protect, restore, and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reserve land degradation and halt biodiversity loss, ensure the conservation, restoration, and sustainable use of forest areas, protect and prevent the extinction of threatened species.
    SDG 16: Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels, significantly reduce all forms of violence, including homicides, reduce the proportion of unsentenced detainees, increase the proportion of countries with independent national human rights institutions.
    SDG 17: Strengthen the means of implementation and revitalize the global partnership for sustainable development, ensure implementation of the net official development assistance commitments by donor countries, enhance access to technology by increasing fixed internet broadband subscriptions, increase proportion of countries with a
    national statistical plan. Notice that the indicators do in no instance exhaust the possible coverage of the goal. Many more indicators could easily be mentioned (actually, the Statistical Commission defines no less than 169 “targets” characterizing the SDGs). In its annual progress report, however, the Commission limits itself to a few ordinal measures of each SDG such as “high progress,” “moderate progress or “low progress.”
    3. The countries in which the process of development has started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Here we will discuss thebdifferent characteristics of developing countries of the world.
    Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio- political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
    Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
    i. Low Per Capita Real Income
    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
    ii. Mass Poverty
    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
    iii. Rapid Population Growth
    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
    iv. The Problem of Unemployment and Underemployment
    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non- availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
    V. Excessive Dependence on Agriculture
    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
    Vi. Technological Backwardness
    The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
    Vii. Dualistic Economy
    Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
    Viii. Lack of Infrastructures
    Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructurebis also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
    Ix. Lower Productivity
    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
    X. High Consumption and Low Saving
    In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and
    remittance earnings that have limited utility to expand the economy.
    The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore. In a summary, the major characteristics of developing countries are presented in the following table.

  5. Ugoh Jessica Chioma. 2019/245722 says:

    1. The general definition of the Third World can be traced back to the history that nations positioned as neutral and independent during the Cold War were considered as Third World Countries, and normally these countries are defined by high poverty rates, lack of resources, and unstable financial standing.
    The global economy is undergoing a profound and momentous shift. The first half of the 21st century will undoubtedly be dominated by the consequences of a new Asian dynamism. China is likely to become the second biggest economy in the world by 2016, and India the third largest by 2035. A cluster of other countries in the Asian region, such as Thailand and Vietnam, are also growing rapidly. These newly dynamic Asian economies can collectively be characterised as the “Asian Drivers of Global Change”. The economic processes they engender are likely to radically transform regional and global economic, political and social interactions and to have a major impact on the environment. This is critical “disruption” to the global economic and political order that has held sway for the past five decades. It is reshaping the world as we know it, heralding a new “Global-Asian” era. The two key Asian Driver economies are China and India. But they reflect very different growth paths. China is integrated into an outward-oriented regional economy, involving fine divisions of labour in many sectors. By contrast (at least until now) India represents much more of a “standalone” economic system.
    China and India are influential for one key reason; these markets are so colossal that engagement with them is essential for any global business wishing to survive in the new world economy. They are, to some extent, the battleground where major global businesses have their key encounter with competitors. China and India are two of the major regional powers in Asia, and are the two most populous countries and among the fastest growing major economies in the world. Growth in diplomatic and economic influence has increased the significance of their bilateral relationship.
    Both countries have put feeding their millions ahead of border disputes, and they can’t turn the clock back on liberalization. They have too much to lose by not working together. This doesn’t suggest that a lovefest will ensue; it only implies less hostility and suspicion between two fast-maturing nations.
    China and India have taken different routes to enter the world economy, and that has resulted in their gaining complementary strengths. Some business leaders have learned to make use of both countries’ resources and capabilities, as I shall show in the following pages. In the process, they have become globally competitive. Multinational companies will only lose if they don’t take advantage of the complementarities between the two economies. If they embrace both countries, however, they can tap into diverse strengths almost as easily as Chinese and Indian companies will.
    China and India are both regarded as economic and political drivers of the international economy, particularly in the trade arena and in regards to global governance. Their economic engagement with developing countries and regions entails interactions in the areas of labour, human rights, international relations, security and environmental sustainability. The potential threats are mostly associated with trade and financial flows and with the social and political implications of China’s financial outflows.
    Nevertheless, in the midst of the recent global economic crises, China and India’s demand for developing country goods proved to be a cushion to the declining flows of resources from advanced nations. China and India influence global economic and political dynamics and can provide alternative sources of development assistance for developing countries. They can also provide a number of potential lessons for other developing countries.
    Labour market peculiarities are key in understanding how economic growth has led to absorption of surplus labour in these economies — particularly in China. Here surplus labour from the traditional agricultural sector has shifted to the progressive industrial sector, thus promoting industrialization.
    Characteristics of China’s labour market include an extensive rural-urban inequity, rapid rural-urban migration (despite various restrictions) and high and rising real wages in the formal sectors. In this respect, it has much in common with other emerging economies, such as South Africa. It is instructive however, to draw out the differences between China and South Africa, as this may hold some general lessons for the role of labour market dynamics in economic growth.

    2. The Human Development Index (HDI):
    The HDI is a composite statistic calculated from the:
    Life expectancy index
    Education index
    Mean years of schooling index
    Expected years of schooling index
    Income index
    Countries are ranked based on their score and split into categories that suggest how well developed they are.

    Infant mortality rate:
    Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.

    Literacy rate:
    The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
    High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.

    Purchasing Power Parity (PPP):
    Comparing countries is difficult because of exchange rates and differences in cost of living. Calculating GDP per capita at PPP is important as it gives a more accurate idea of standard of living in countries with very different prices due to their different economic statuses.

    Multidimensional Poverty Index:
    Replacing the Human Poverty Index in 2010, the MPI seeks to measure levels of deprivation amongst the poorest countries. As mentioned above, HDI does not give the full picture of a country and there are different areas to focus on in rich and poor countries. The MPI adds to HDI information for the poorest countries.
    The MPI looks at the same three dimensions as the HDI; health, education and living standards.

    Gender Empowerment Index:
    A measure of gender equality in countries, it looks at whether women are able to actively participate in economic and political life and be involved in decision-making. There are three basic indicators: proportion of seats held by women in national parliaments, percentage of women in economic decision making positions, and female share of income.

    3. Low Per Capita Real Income:
    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    Mass Poverty:
    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    Rapid Population Growth:
    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

    The Problem of Unemployment and Underemployment:
    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

    Excessive Dependence on Agriculture:
    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    Technological Backwardness:
    The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

    Dualistic Economy:
    Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

    Lack of Infrastructures:
    Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

    Lower Productivity:
    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

    High Consumption and Low Saving:
    In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

  6. Ugoh Jessica Chioma. 2019/245722 says:

    4. Women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.
    Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
    In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.
    Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income-earning opportunities.
    Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty.

  7. Onyechukwu Blossom Chinyere says:

    Onyechukwu Blossom Chinyere
    2019/242141
    blossomchinyere29@gmail.com

    (1)
    The term “Third World” arose during the Cold War to define countries that remained non-aligned with either NATO or the Communist Bloc. The United States, Western European nations, and their allies represented the First World, while the Soviet Union, China, Cuba, and their allies represented the Second World. This terminology provided a way of broadly categorizing the nations of the Earth into three groups based on social, political, cultural, and economic divisions. The Third World was normally seen to include many countries with colonial pasts in Africa, Latin America, Oceania, and Asia. It was also sometimes taken as synonymous with countries in the Non-Aligned Movement. In the so-called dependency theory of thinkers like Raul Prebisch, Walter Rodney, Theotonio dos Santos, and Andre Gunder Frank, the Third World has also been connected to the world economic division as “periphery” countries in the world system that is dominated by the “core” countries.
    The Third World, or developing nations of Asia, Africa, and Latin America, are generally characterized as poor, with economies distorted by their reliance on the export of primary products to developed countries in exchange for finished products.These nations also tend to have high rates of illiteracy, disease, population growth, and unstable governments. The term “third world” was originally intended to distinguish the nonaligned nations that gained independence from colonial rule beginning after World War II from the Western nations and from those that formed the former Eastern Bloc, and sometimes more specifically from the United States and from the former Soviet Union (the first and second worlds, respectively). For the most part, the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerging industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.
    Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. [1] Some countries in the Communist Bloc, such as Cuba, were often regarded as “third world.” Because many Third World countries were extremely poor and non-industrialized, it became a stereotype to refer to poor countries as “Third World countries,” yet the “Third World” term is also often taken to include newly industrialized countries like Brazil or China. Historically, some European countries were part of the non-aligned movement, and a few were and are very prosperous, including Austria, Ireland, and Switzerland.
    Many third-world countries believed they could successfully court both the communist and capitalist nations of the world and develop key economic partnerships without necessarily falling under their direct influence. In practice, this plan did not work out quite so well; many third-world nations were exploited or undermined by the two superpowers, which feared these supposedly neutral nations were in danger of falling into alignment with the enemy. After World War II, the First and Second Worlds struggled to expand their respective spheres of influence into the Third World. The militaries and intelligence services of the United States and the Soviet Union worked both secretly and overtly to influence governments in the Third World, with mixed success.

    (2)
    The most widely used measure of the comparative status of socioeconomic development is presented by the United Nations Development Program (UNDP) in its annual series of Human Development Reports. The centerpiece of these reports, which were initiated in 1990, is the construction and refinement of their informative Human Development Index (HDI). The HDI attempts to rank all countries on a scale of 0 (lowest human development) to 1 (highest human development) based on three goals or end products of development: longevity as measured by life expectancy at birth; knowledge as measured by a weighted average of adult literacy (two-thirds) and gross school enrollment ratio (one-third); and standard of living as measured by real per capita gross domestic product adjusted for the differing purchasing power parity of each country’s currency to reflect cost of living and for the assumption of diminishing marginal utility of income; Using these three measures of development and applying a formula to data for 177 countries, the HDI ranks countries into four groups: low human development (0.0 to 0.499), medium human development (0.50 to 0.799), high human development (0.80 to 0.90), and very high human development (0.90 to 1.0).

    (3)
    1. Low Per Capita Real Income
    Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
    It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
    2. High Population Growth Rate
    Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.

    3. High Rates of Unemployment
    In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
    4. Dependence on Primary Sector
    Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
    5. Dependence on Exports of Primary Commodities
    Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector.

  8. Oliaku Israel Okeoma says:

    Oliaku Israel Okeoma
    2015/203653
    israelwest24@gmail.com
    (1)
    The Third World, or developing nations of Asia, Africa, and Latin America, are generally characterized as poor, with economies distorted by their reliance on the export of primary products to developed countries in exchange for finished products.These nations also tend to have high rates of illiteracy, disease, population growth, and unstable governments. The term “third world” was originally intended to distinguish the nonaligned nations that gained independence from colonial rule beginning after World War II from the Western nations and from those that formed the former Eastern Bloc, and sometimes more specifically from the United States and from the former Soviet Union (the first and second worlds, respectively). For the most part, the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerging industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. Some countries in the Communist Bloc, such as Cuba, were often regarded as “third world.” Because many Third World countries were extremely poor and non-industrialized, it became a stereotype to refer to poor countries as “Third World countries,” yet the “Third World” term is also often taken to include newly industrialized countries like Brazil or China. Historically, some European countries were part of the non-aligned movement, and a few were and are very prosperous, including Austria, Ireland, and Switzerland.
    (2)
    The United Nations Development Program (UNDP) provides the most popular indicator of the comparative condition of socioeconomic development in its annual series of Human Development Reports. The creation and improvement of their educational Human Development Index serves as the focal point of these studies, which were started in 1990. (HDI).The HDI attempts to rank all countries on a scale of 0 (lowest human development) to 1 (highest human development) based on three goals or end products of development: longevity as measured by life expectancy at birth; knowledge as measured by a weighted average of adult literacy (two-thirds) and gross school enrollment ratio (one-third); and standard of living as measured by real per capita gross domestic product adjusted for the differing purchasing power parity of each country’s currency to reflect cost of living and for the assumption of diminishing marginal utility of income; Using these three measures of development and applying a formula to data for 177 countries, the HDI ranks countries into four groups: low human development (0.0 to 0.499), medium human development (0.50 to 0.799), high human development (0.80 to 0.90), and very

    (3)

    A. Low Per Capita Income:
    The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan. According to these estimates for the year 1995, per capita income was $340 in India, $ 620 in China, $240 in Bangladesh, $ 700 in Sri Lanka. As against these, for the year 1995 per capita income was $ 26,980 in USA, $ 23,750 in Sweden, $ 39,640 in Japan and 40,630 in Switzerland.
    It may however be noted that the extent of poverty prevailing in the developing countries is not fully reflected in the per capita income which is only an average income and also includes the incomes of the rich also. Large inequalities in income distribution prevailing in these economies have made the lives of the people more miserable. A large bulk of population of these countries lives below the poverty line.
    For example, the recent estimates reveal that about 28 per cent of India’s population (i.e. about 260 million people) lives below the poverty line, that is, they are unable to get even sufficient calories of food needed for minimum subsistence, not to speak of minimum clothing and housing facilities. The situation in other developing countries is no better.
    The low levels of per capita income and poverty in developing countries is due to low levels of productivity in various fields of production. The low levels of productivity in the developing economies has been caused by dominance of low-productivity agriculture and informal sectors in their economies, low levels of capital formation – both physical and human (education, health), lack of technological progress, rapid population growth which are in fact the very characteristics of the underdeveloped nature of the developing economies. By utilising their natural resources accelerating rate of capital formation and making progress in technology they can increase their levels of productivity and income and break the vicious circle of poverty operating in them.
    It may however be noted that after the Second World War and with getting political freedom from colonial rule, in a good number of the underdeveloped countries the process of growth has been started and their gross domestic product (GDP) and per capita income are increasing.

    B. Excessive Dependence on Agriculture:
    A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
    In the present-day developed countries, the modern industrial growth brought about structural transformation with the proportion of working population engaged in agriculture falling drastically and that employed in the modern industrial and services sectors rising enormously. This occurred due to the rapid growth of the modern sector on the one hand and tremendous rise in productivity in agriculture on the other.
    The dominance of agriculture in developing countries can be known from the distribution of their workforce by sectors. According to estimates made by ILO given in Table 4.1 on an average 61 per cent of workforce of low-income developing countries was employed in agriculture whereas only 19 per cent in industry and 20 per cent in services. On the contrary, in high income, that is, developed countries only 4 per cent of their workforce is employed in agriculture, while 26 per cent of their workforce is employed in industry and 70 per cent in services.

    C. Low Level of Capital Formation:
    The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
    Since then there has been substantial increase in the rate of saving and investment in the developing countries. However, the quantity of capital per head is still very low in them and therefore productivity remains low. For example, in India rate of investment has now (2012-13) risen to about 35 per cent but it still remains a poor country with low level of productivity. This is because as a result of rapid population growth, capital per head is still very low.
    The low level of capital formation in a developing country is due both to the weakness of the inducement to invest and to the low propensity and capacity to save. The rate of saving in developing countries is low primarily because of the low level of national income. In such an economy, the low level of per capita income limits the size of the market demand for manufacturing output which weakens the inducement to invest. The low level of investment also arises as a result of the lack of dynamic entrepreneurship which was regarded by Schumpeter as the focal point in the process of economic development.
    At the root of capital deficiency is the shortage of savings. The level of per capita income being quite low, most of it is spent on satisfying the bare necessities of life, leaving a very little margin of income for capital accumulation. Even with an increase in the level of individual incomes in a developing economy, there does not usually follow a higher rate of accumulation because of the tendency to copy the higher levels of consumption prevailing in the advanced countries. Nurkse has called this as “demonstration effect”. It is usually caused through media like films, television or through foreign visits.
    Generally, there exist large inequalities in the distribution of incomes in developing countries. This should have resulted in a greater volume of savings available for capital formation. But most often the sector in which the greatest concentration of incomes lies is the one which derives its income primarily from non-entrepreneurial sources such as unearned incomes of rents, interests and monopoly profits.
    The attitudes and social values of this sector are often such that it is prone to use its income for ‘conspicuous consumption’, investment in land and real estate, speculative transactions, inventory accumulation and hoarding of gold and jewellery. If these surpluses are channelled into productive investment, they would tend to increase substantially the level of capital formation.

  9. Orji Emeka Joseph says:

    Orji Emeka Joseph
    2015/200587
    orjiemeka1997@gmail.com

    (1)
    The Third World, or developing countries in Asia, Africa, and Latin America, are typically seen as being impoverished and having economies that are distorted due to their reliance on exporting raw materials to wealthier nations in exchange for completed goods. Along with having unstable administrations, these countries frequently have high rates of sickness, illiteracy, and population growth. When nonaligned countries gained independence from colonial domination following World War II, the term “third world” was initially used to set them apart from Western countries and former Eastern Bloc members, and sometimes more particularly from the United States and the former Soviet Union (the first and second worlds, respectively).For the most part, the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerging industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. Some countries in the Communist Bloc, such as Cuba, were often regarded as “third world.” Because many Third World countries were extremely poor and non-industrialized, it became a stereotype to refer to poor countries as “Third World countries,” yet the “Third World” term is also often taken to include newly industrialized countries like Brazil or China. Historically, some European countries were part of the non-aligned movement, and a few were and are very prosperous, including Austria, Ireland, and Switzerland.

    (2)
    The United Nations Development Program (UNDP) provides the most popular indicator of the comparative condition of socioeconomic development in its annual series of Human Development Reports. The creation and improvement of their educational Human Development Index serves as the focal point of these studies, which were started in 1990. (HDI).The HDI attempts to rank all countries on a scale of 0 (lowest human development) to 1 (highest human development) based on three goals or end products of development: longevity as measured by life expectancy at birth; knowledge as measured by a weighted average of adult literacy (two-thirds) and gross school enrollment ratio (one-third); and standard of living as measured by real per capita gross domestic product adjusted for the differing purchasing power parity of each country’s currency to reflect cost of living and for the assumption of diminishing marginal utility of income; Using these three measures of development and applying a formula to data for 177 countries, the HDI ranks countries into four groups: low human development (0.0 to 0.499), medium human development (0.50 to 0.799), high human development (0.80 to 0.90), and very high human development (0.90 to 1.0).
    (3)

    A. Low Level of Capital Formation:
    The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
    Since then there has been substantial increase in the rate of saving and investment in the developing countries. However, the quantity of capital per head is still very low in them and therefore productivity remains low. For example, in India rate of investment has now (2012-13) risen to about 35 per cent but it still remains a poor country with low level of productivity. This is because as a result of rapid population growth, capital per head is still very low.
    The low level of capital formation in a developing country is due both to the weakness of the inducement to invest and to the low propensity and capacity to save. The rate of saving in developing countries is low primarily because of the low level of national income. In such an economy, the low level of per capita income limits the size of the market demand for manufacturing output which weakens the inducement to invest. The low level of investment also arises as a result of the lack of dynamic entrepreneurship which was regarded by Schumpeter as the focal point in the process of economic development.
    At the root of capital deficiency is the shortage of savings. The level of per capita income being quite low, most of it is spent on satisfying the bare necessities of life, leaving a very little margin of income for capital accumulation. Even with an increase in the level of individual incomes in a developing economy, there does not usually follow a higher rate of accumulation because of the tendency to copy the higher levels of consumption prevailing in the advanced countries. Nurkse has called this as “demonstration effect”. It is usually caused through media like films, television or through foreign visits.
    Generally, there exist large inequalities in the distribution of incomes in developing countries. This should have resulted in a greater volume of savings available for capital formation. But most often the sector in which the greatest concentration of incomes lies is the one which derives its income primarily from non-entrepreneurial sources such as unearned incomes of rents, interests and monopoly profits.
    The attitudes and social values of this sector are often such that it is prone to use its income for ‘conspicuous consumption’, investment in land and real estate, speculative transactions, inventory accumulation and hoarding of gold and jewellery. If these surpluses are channelled into productive investment, they would tend to increase substantially the level of capital formation.
    B. Rapid Population Growth and Disguised Unemployment:
    The diversity among developing economies is perhaps nowhere to be seen so much in evidence as in respect of the facts of their population in respect of its size, density and growth. While we have examples of India, Pakistan and Bangladesh with their teeming millions and galloping rates of population growth, there are the Latin American countries which are very sparsely populated and whose total population in some cases numbers less than a single metropolitan city in India and China. In several newly emerging countries of Africa too and in some of the Middle Eastern countries the size of their population cannot be regarded as excessive, considering their large expanse. The South- East and Eastern Asia, on the other hand, have large populations.
    However, there appears to be a common feature, namely, a rapid rate of population growth. This rate has been rising still more in recent years, thanks to the advances in medical sciences which have greatly reduced the death rate due to epidemics and diseases. While the death rate has fallen sharply, but there has been no commensurate decline in birth rate so that the natural survival rate has become much larger. The great threat of this rapid population growth rate is that it sets at nought all attempts at development in as much as much of the increased output is swallowed up by the increased population.
    One important consequence of this rapid rate of population growth is that it throws more and more people on land and into informal sector to eke out their living from agriculture, since alternative occupations do not simultaneously develop and thus are not there to absorb the increasing numbers seeking gainful employment. The resultant pressure of population on land and in informal sector thus gives rise to what has been called “disguised unemployment”.
    Disguised unemployment means that there are more persons engaged in agriculture than are actually needed so that the addition of such persons does not add to agricultural output, or putting it alternatively, given the technology and organisation even if some of the persons are withdrawn from land, no fall in production will follow from such withdrawal. As a result, marginal productivity of a wide range of labourers employed in agriculture is zero.
    C. Lower Levels of Human Capital:
    Human capital – education, health and skills – are of crucial importance for economic development. In our analysis of human development index (HDI) we noted that there is great disparity in human capital among the developing and developed countries. The developing countries lack in human capital that is responsible for low productivity of labour and capital in them.
    Lack of education manifests itself in lower enrolment rate in primary, secondary and tertiary educational institutions which impact knowledge and skills of the people. Lower levels of education and skills are not conducive for the development of new industries and for absorbing new technologies to achieve higher levels of production. Besides, lack of education and skills makes people less adaptable to change and lowers the ability to organise and manage industrial enterprises. Further, in countries like India, advantage of demographic dividend can be taken only if the younger persons can be educated, healthy and equipped with appropriate skills so that they can be employed in productive activities.
    The data of various education indicators is given in Table 4.3. It will be seen from this table that as compared to high income countries enrolment in secondary and tertiary educational institutions was 38% and 63% of person of relevant age group in 2009 as compared to 100 per cent in high-income developed countries.
    Similarly, enrolment rate in tertiary educational institutions which impart higher liberal, managerial and technical education in developing countries of low income and lower middle income is 6 per cent and 19 per cent respectively of the relevant age group as compared to 67 per cent in high-income developed countries. It will be seen from Table 4.3 that in India enrolment for secondary education is 60 per cent and in China 78 per cent of relevant age group.
    Similarly, Table 4.3 reveals that adult literacy rate (percentage of population of ages 15 and older that can read and write a short simple statement in their everyday life) is much lower (62% in low income and 80% in lower middle income developing countries) in 2009 as compared to 98% in high income developed countries. In India adult literacy rate is only 63 per cent in 2009 whereas it is much higher in China (94 %) and Brazil (90 %) as compared to 98% in high-income developed countries.

  10. Henry Victor Ifeanyichukwu says:

    Name : Henry Victor Ifeanyichukwu
    Reg no : 2029/250111
    Email : victorhenry274@gmail.com
    1, The co-operation between China and India brought about liberation from colonial influence. Although they did have different social- economics system this difference changed the way capitalist economy and communist sociality relate. This co-operation brought about the decolonisation. This make United nation which is predominantly by European countries, started depreciation into a 3rd world state . this made major policy debate on underdevelopment and creation of more theories mainly from the platform of international conference.
    2, traditional speaking GNI per capita has been the measurement for under development. But using a GNI as measurement is narrow concept but development is broader concept. So the United nation, world bank and bretton woods institutions such index involved economic growth, inflation, exchange rate and population growth. All this index can be used a broader concept to measure a country development, for development to occur they must be a change in infrastructure, distribution of wealth and allocation of owners of factors of production ,and all this index is better measurement than that of GNI per-capita
    3, a) low levels of living: All developing nations share a very low standard of living. A large number of the population in developing nation can hardly provide there basic needs like food , shelter and cloth.
    They have to find a way to survive without the availability of all this important living necessity, so they suffer poor standard of living.
    b) low level of productivity: In most developing nation are suffering from depression/recession. In which there is no maximum usage of resources present for production. This leads to low productivity of developing nations and also low output, the input is usually greater than the output.
    c) High rate of population growth and dependency burdens: developing nations suffers from high rate of growth in there population, because of lack of childbearing controlling drugs or even the lack of knowledge of availability of those medications. These would result to high level of population growth and if resources aren’t present to take care of the growing population. The population growth would Lead to high dependency ratio, a large numbers of the population would depend on the few numbers of the population to survive and sustain life.
    d) High and rising level of unemployment and underemployment : Developing nations suffers from unemployment and underemployment, this is because the job opportunities present is developing nations is less than the able to work population ( labour market ). This make a large members of the population unable able to find employment and some unsatisfied with the present unemployment and few members of the population employed. Creating unemployment and underemployment leading to Insecurity in sociality.
    e) traditional, rural social structure: Developing nations has a large level of poor infrastructure present in there rural areas. Rural areas has little or no modern infrastructure and social structure present in the community of underdevelop nation.
    f) widespread of poverty : Developing nations doesn’t have the resources to take of there growing population.And because of that large members of population suffers from poverty and they enable to provide for there basic needs because of lacking or inadequate resources.
    g) substantial dependency on agriculture production : Develop of nation are involved in substantial agriculture. Due to lack of modern equipment and technology that would improve the agriculture sector. This technology would take the agriculture sector for substantial to commercial where they can provide adequately to feed the nation, import and also provide raw material for industries.
    h) primary – product export : most Developing nations export primary product for production to develop nation at a cheap rate. And purchase the manufactured products from the developed nation at a higher rate. this would result in deficit deficit in balance of payment of those developing nations.
    i) dependence and vulnerability : Developing nations suffers from a high rate of dependency because a large number of the population is not working and the unemployed population depends on the few employed population. This can lead to extortion by the employed population on the unemployed population, the unemployed population are vulnerable and unable to protect themselves.

    4, I agree with the statement “ poverty has the face of a woman ” in a developing nations they hardly invest into the population of women, like a low rate of women attend school and acquire the skill they need to be productive in society cause a large number of population women to be in poverty and have high dependency on there male counterparts.

  11. Paul Emmanuel Okwuchukwu says:

    Paul Emmanuel Okwuchukwu
    2015/197559
    paulemmanuelok7@gmail.com

    (1)
    The Third World was normally seen to include many countries with colonial pasts in Africa, Latin America, Oceania, and Asia. It was also sometimes taken as synonymous with countries in the Non-Aligned Movement. In the so-called dependency theory of thinkers like Raul Prebisch, Walter Rodney, Theotonio dos Santos, and Andre Gunder Frank, the Third World has also been connected to the world economic division as “periphery” countries in the world system that is dominated by the “core” countries. The Third World, or developing countries in Asia, Africa, and Latin America, are typically seen as being impoverished and having economies that are distorted due to their reliance on exporting raw materials to wealthier nations in exchange for completed goods. Along with having unstable administrations, these countries frequently have high rates of sickness, illiteracy, and population growth. When nonaligned countries gained independence from colonial domination following World War II, the term “third world” was initially used to set them apart from Western countries and former Eastern Bloc members, and sometimes more particularly from the United States and the former Soviet Union (the first and second worlds, respectively).For the most part, the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerging industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. Some countries in the Communist Bloc, such as Cuba, were often regarded as “third world.” Because many Third World countries were extremely poor and non-industrialized, it became a stereotype to refer to poor countries as “Third World countries,” yet the “Third World” term is also often taken to include newly industrialized countries like Brazil or China. Historically, some European countries were part of the non-aligned movement, and a few were and are very prosperous, including Austria, Ireland, and Switzerland.
    Many third-world countries believed they could successfully court both the communist and capitalist nations of the world and develop key economic partnerships without necessarily falling under their direct influence. In practice, this plan did not work out quite so well; many third-world nations were exploited or undermined by the two superpowers, which feared these supposedly neutral nations were in danger of falling into alignment with the enemy.

    (2)
    The HDI attempts to rank all countries on a scale of 0 (lowest human development) to 1 (highest human development) based on three goals or end products of development: longevity as measured by life expectancy at birth; knowledge as measured by a weighted average of adult literacy (two-thirds) and gross school enrollment ratio (one-third); and standard of living as measured by real per capita gross domestic product adjusted for the differing purchasing power parity of each country’s currency to reflect cost of living and for the assumption of diminishing marginal utility of income; Using these three measures of development and applying a formula to data for 177 countries, the HDI ranks countries into four groups: low human development (0.0 to 0.499), medium human development (0.50 to 0.799), high human development (0.80 to 0.90), and very high human development (0.90 to 1.0).

    (3)
    (3)
    A. Low Per Capita Real Income
    Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
    It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
    B. High Population Growth Rate
    Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.

    C. High Rates of Unemployment
    In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
    D. Dependence on Primary Sector
    Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
    E. Dependence on Exports of Primary Commodities
    Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector.

  12. EZEH PATRICK EZENWA says:

    NAME; EZEH PATRICK EZENWA
    DEPT; ECO MAJOR
    REG NO; 2019/244053
    EMAIL; Saintpatrickforchrist@gmail.com

    Q1. As a result of decolonization, the UN at first numerically dominated by Europe communities and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, through the essentially academic debate. Despite that debate, the unity of the third world remain hypotheticallybpressed mainly from the platforms of international conference.

    Q2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.

    The criteria by UN takes into consideration of development indicators like literacy level, life expectancy, besides per capita income. Countries with these criteria according to the UN are developing and those without are underdeveloped.

    Q3. Low level of living: this simply means that a segment of the population of a country does not have adequate access to much wealth and basic services and amenities necessary for living, lack of food, shelter, clothing etc.

    Low levels of productivity: this means that resources are not being used to their highest and fulest capacity, that is they are not utilizing their skills and competences to their maximum potential which in turn increases a company’s resources costs.

    High rate of population growth: this occurs when the population of an economy or country exceeds the available resources to sustain and neet the basic need of the citizens in that economy.

    Traditional and rural social structure: traditional structures can hinder development due to lack of urbanization and acceptance of new innovations and ideas for the improvement of that particular region or economy.

    Wide spread poverty: this occurs when most regions in an economy are extremely poor occuring in most individuals. This state of poverty reduces the level of living making life extremely hard and un sustainable for individuals in those regions of the economy.

    Substancial dependence on agriculture: this implies to over dependence on agriculture mainly for consumption and not for commercial purposes. Even exporting of only agricultural products can limit a country’s development.

    Feeding the government: when the government extorts its citizens and uses the money for their own personal gain it leads to under development. Not meeting the need of the people by providing good roads, jobs, Infrastructure etc, leading to low level of living in the lives of the individuals in the economy.

    Increase in unemployment: this occurs when the number of youths in the economy are without jobs, this may lead to increase in crime thus hinders Development in that economy.

  13. MOETEKE EBELE LOUISA says:

    NAME: MOETEKE EBELE LOUISA
    REG NO: 2019/244608
    COURSE: ECO 361
    EMAIL: moetekeebele@gmail.com
    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
    ANSWER
     In the early 1970s, Chairman Mao Zedong and Premier Zhou Enlai made timely and farsighted major decisions in view of changes in international developments, thus opening new horizons for China’s diplomacy and ushering in a third wave of establishing diplomatic relations with other countries.
     During this period, the two superpowers, the United States and the Soviet Union, were locked in rivalry for global hegemony, with the Soviet Union on the offensive and the United States on the defensive. To reverse its unfavorable position and lift itself from the predicament in Viet Nam, the United States sought rapprochement with China. Seeing that the United States had the desire to improve its relations with China, Chairman Mao Zedong and Premier Zhou Enlai seized the opportunity. They accepted the proposal made by the United States for improving relations with China and invited Kissinger and Nixon to visit China. During Nixon’s visit to China, the two countries issued a joint communiqué which became known as the Shanghai Communiqué. The thawing of China-US relations exerted far reaching impact on the international developments. In 1971, the United Nations passed with overwhelming majority of votes a resolution on restoring China’s lawful seat in the United Nations. China’s international status was vastly enhanced.
     China’s relations with other third world countries saw extensive growth both politically and economically. China fully supported the people of Asia, Africa and Latin America in their just struggle against imperialism, colonialism and hegemony. It did not attach any political conditions in providing economic assistance. China supported the third world countries in developing their economy and their call for the establishment of a new international economic order, winning their trust and support. As a result, many third world countries entered into diplomatic relations with China. Twenty-six African countries forged diplomatic ties with China. There was also a breakthrough in China’s relations with the Latin American countries as China established diplomatic relations with 13 Latin American countries including Chile, Mexico, Argentina, Venezuela and Brazil. China entered into diplomatic relations with Malaysia, Thailand, the Philippines, Bangladesh and Maldives in Southeast Asia and South Asia, seven countries including Iran, Turkey and Kuwait in West Asia and the Middle East and five countries in South Pacific such as Fiji and Papua New Guinea. The establishment of diplomatic relations between China and a large number of developing countries was accompanied by frequent exchange of visits between the Chinese leaders and the leaders of these countries, which greatly boosted the steady growth of relations between China and other third world countries.
     In September, 1972, the Chinese and Japanese governments issued a joint statement on establishing diplomatic relations after negotiation. In August, 1978, China and Japan signed the Sino-Japanese Treaty of Peace and Friendship which further promoted their relations. The 1970s also witnessed a surge of establishing diplomatic relations between China and the West European countries. From 1970 onwards, China successively entered into diplomatic relations with Italy, Austria, Belgium, Greece, the Federal Republic of Germany, Iceland, Luxembourg, Spain, Portugal and Ireland. China’s relations with Britain and the Netherlands were respectively upgraded to the ambassadorial level. China entered into formal relations with the European Community in 1975. During this period, relations between China on the one hand and Canada, Australia and New Zealand on the other were also normalized.
     By the end of 1979, China had entered into diplomatic relations with 120 countries. China had friends across the five continents and its international standing saw unprecedented growth.

    2. Traditionally, developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
    ANSWER
    International institutions use economic indicators, including per capita income (GNP or GDP), economic structure, urbanization, and the amount of savings. Besides that, there are also two other indicators that show the progress of a nations or a region’s socio-economic development, namely the Quality-of-Life Index (IKH or PQLI) and the Human Development Index (HDI). In the following, a summary of Deddy T. Tikson (2005) will be presented on these five indicators:
     Income per capita: Per capita income, both in terms of GNP and GDP, is one of the macroeconomic indicators that has long been used to measure economic growth. From a macroeconomic perspective, this indicator is a measurable part of human well-being, so that it can describe the welfare and prosperity of society. It seems that per capita income has become an indispensable macroeconomic indicator, although it has several drawbacks. So that the growth of national income, so far, has been used as a development goal in third world countries. It is as if there is an assumption that the welfare and prosperity of society is automatically indicated by an increase in national income (economic growth). Even though, some experts consider the use of this indicator to ignore the distribution pattern of national income. This indicator does not measure the distribution of income and equal distribution of welfare, including equal access to economic resources.
     Economic structure: It has been assumed that an increase in per capita income will reflect a structural transformation in the economy and social classes. With economic development and per capita increase, the contribution of the manufacturing / industrial and service sectors to national income will continue to increase. The development of the industrial sector and the improvement in the level of wages will increase the demand for industrial goods, which will be followed by development of investment and expansion of the workforce. On the other hand, the contribution of the agricultural sector to national income will continue to decline.
     Urbanization: Urbanization can be interpreted as the increasing proportion of the population living in urban areas compared to rural areas. Urbanization is said to not occur if population growth in urban areas is equal to zero. In accordance with the industrialization experience in Western European countries and North America, the proportion of the population in urban areas is directly proportional to the proportion of industrialization. This means that the speed of urbanization will increase in line with the fast pace of the industrialization process. In industrialized countries, the majority of the population lives in urban areas, while in developing countries the largest proportion lives in rural areas. Based on this phenomenon, urbanization is used as an indicator of development.
     Savings Figures: The development of the manufacturing / industrial sector during the industrialization stage requires investment and capital. Financial capital is a major factor in the industrialization process in a society, as happened in England in general Europe at the beginning of the growth of capitalism which was followed by the industrial revolution. In a society with high productivity, this venture capital can be collected through savings, both private and government.
     Quality of Life Index: The Quality-of-Life Index (IKH) or Physical Quality of life Index (PQLI) is used to measure people’s welfare and prosperity. Macroeconomic indexes cannot provide a picture of people’s welfare in measuring economic success. For example, the national income of a nation continues to grow, but without increasing social welfare. The quality-of-life index is calculated based on: the average life expectancy at the age of one, infant mortality rate, and numerical literacy. In the quality-of-life index, the average life expectancy and infant mortality rate can simultaneously describe the nutritional status of children and mothers, health status, and family environment which is directly related to family welfare. Education is measured by literacy rate, which can describe the number of people who have access to education as a result of development. This variable describes the welfare of the community, because the high economic status of the family will affect the educational status of its members. By the makers, this index is considered as the best way to measure the quality of human beings as a result of development, in addition to per capita income as a measure of human quantity.
     Human Development Index: The United Nations Development Program (UNDP) has developed other development indicators, in addition to several existing indicators. The basic idea underlying this index is the importance of paying attention to the quality of human resources. According to UNDP, development should be aimed at developing human resources. In this understanding, development can be defined as a process that aims to develop options that can be made by humans. This is based on the assumption that improving the quality of human resources will be followed by the opening of various options and opportunities to determine the path of human life freely. Economic growth is considered an important factor in human life, but it will not automatically affect the improvement of human dignity and dignity. In this connection, there are three components that are considered most decisive in development, long and healthy life, the acquisition and development of knowledge, and the improvement of access to a better life. This index is created by combining three components. The three components are: average life expectancy at birth, average educational attainment at the elementary, junior high and high school levels and per capita income calculated based on Purchasing Power Parity. Human development is closely related to increasing human capabilities which can be summarized in increasing knowledge, attitude and skills, in addition to the health status of all family members and their environment.
    The original meaning of the term underdevelopment indicated that existing resources had not been exploited. The word is now close in meaning to ‘poverty’, although some oil-rich underdeveloped countries have high incomes which are enjoyed by the few. Indicators of underdevelopment include: high birth rates, high infant mortality, undernourishment, a large agricultural and small industrial sector, low per capita GDP, high levels of illiteracy, and low life expectancy.

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
    ANSWER
    Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
    Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
    The common characteristics of developing nations are briefly explained below.
     Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
     Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
     Rapid Population Growth: Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
     The Problem of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
     Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
     Technological Backwardness: The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
     Dualistic Economy: Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
     Lack of Infrastructures: Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
     Lower Productivity: In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
     High Consumption and Low Saving: In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?.
    ANSWER
     Poverty has the face of a woman; women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.
     Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience; addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
     In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.
     Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income-earning opportunities.
     Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty.

  14. Samuel Francess Kenile says:

    Samuel Francess Kenile
    2019/250034
    obogwusamuelfrances@gmail.com

    Question 3:
    Characteristics of developing nations

    Major Characteristics of Developing Countries

    Low Per Capita Real Income

    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    Mass Poverty

    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    Rapid Population Growth

    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

    The Problem of Unemployment and Underemployment

    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries. 

    Excessive Dependence on Agriculture

    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    Technological Backwardness

    The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

    Dualistic Economy

    Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

    Lack of Infrastructures

    Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

    Lower Productivity

    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

    High Consumption and Low Saving

    In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.   

    The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore.

    Question 4:

    Firstly I do not agree that poverty has the face of a woman it is a No for me….

    I do not think that one should put a face to the world’s disease, called poverty. Some people may argue about its sources, and on this point I would agree with the comment that “women are often on the forefront of poverty” where men are presented to be the main income creator, but still this does not mean that one can connect this phenomenon with gender. From the moment that we start to theorize about poverty’s gender, we are trapped because it does not help us in any case, in fact provokes many questions and in some way destroys the concept of gender equality. It is true that the mass media expresses poverty by using the picture of  women and children, but I think is created with an aim, to show us how important it is for this world to help the mothers in need, but it does not serve to show that poverty has a women’s face. Anyways, I am so glad you raised this question because there are various aspects that should be considered and analyzed.

  15. Agu Chiedozie Christian 2019/243418 Economics says:

    Answers:
    1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.

    2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates.

    3.
    1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
    2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
    3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
    4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
    5.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
    6.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
    7.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.

    These are some of the common characteristics of developing nations.

    4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment.
    Additionally, women are also more likely to live in poverty in older age due to the lack of social security and pension schemes that cover for women.

  16. Chisalum Emmanuel Chinecherem 2019/249408 ECONOMICS says:

    Answers:
    1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.

    2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.

    3.
    1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
    2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
    3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
    4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
    5.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
    6.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
    7.Lack of access to education and healthcare: Developing nations often have lower levels of access to education and healthcare, which can limit the potential for economic development and improvement in the quality of life.

    4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.

  17. Nwodo Michael Chidera 2019/243281 ECONOMICS says:

    Answers:
    1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.

    2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.

    3.
    1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
    2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
    3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
    4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
    5.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
    6.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.
    7.High population growth: Developing nations tend to have higher population growth rates, which can put a strain on resources and limit economic growth.
    8.Lack of access to education and healthcare: Developing nations often have lower levels of access to education and healthcare, which can limit the potential for economic development and improvement in the quality of life.

    These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.

    4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.

  18. Benedict Jennifer Chinagorom says:

    Benedict Jennifer chinagorom
    2019/244229

    1.The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.

    2. The main criteria used by the International Monetary Fund in country classification are
    i) per capita income level: Per Capita Income is a metric used to determine the amount of money earned per individual in a nation or geographical area. You’ll get PCI of a specific geographical location by dividing a population’s total income by that area’s population.
    ii) export diversification: Developing countries should diversify their exports since this can, for example, help them to overcome export instability or the negative impact of terms of trade in primary products.
    iii) degree of integration into the global financial system: The extent to which financial integration is measured includes gross capital flows, stocks of foreign assets and liabilities, degree of co-movement of stock returns, degree of dispersion of worldwide real interest rates, and financial openness.
    The International Monetary Fund uses either sums or weighted averages of data for individual countries.

    3. Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, low per capital income etc

    4. Poverty is identified as a woman because of educational status, gender inequality, and discrimination over access to resource, lack of capital, early marriage, religion, lack of collateral to access to credit, poverty, and lack of adequate income. The feminization of poverty is not only a consequence of lack of income, but is also the result of the deprivation of opportunities and gender biases present in both societies and governments. Women’s increasing share of poverty is related to the rising incidence of lone mother households.

  19. Benedict Jennifer Chinagorom says:

    Benedict Jennifer chinagorom
    2019/244229

    1.The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.

    2. The main criteria used by the International Monetary Fund in country classification are
    i) per capita income level: Per Capita Income is a metric used to determine the amount of money earned per individual in a nation or geographical area. You’ll get PCI of a specific geographical location by dividing a population’s total income by that area’s population.
    ii) export diversification: Developing countries should diversify their exports since this can, for example, help them to overcome export instability or the negative impact of terms of trade in primary products.
    iii) degree of integration into the global financial system: The extent to which financial integration is measured includes gross capital flows, stocks of foreign assets and liabilities, degree of co-movement of stock returns, degree of dispersion of worldwide real interest rates, and financial openness.
    The International Monetary Fund uses either sums or weighted averages of data for individual countries.

    3. Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, low per capital income etc

    4. Poverty is identified as a woman because of educational status, gender inequality, and discrimination over access to resource, lack of capital, early marriage, religion, lack of collateral to access to credit, poverty, and lack of adequate income. The feminization of poverty is not only a consequence of lack of income, but is also the result of the deprivation of opportunities and gender biases present in both societies and governments. Women’s increasing share of poverty is related to the rising incidence of lone mother households.
    I agree with the motion poverty has the face of a woman.Because women don’t have certain opportunities that men have to fight poverty.

  20. Clement Ann Amaka says:

    1) In socialist economies, governments are charged with redistributing wealth and narrowing the gap between the poor and the rich. While no modern-day countries are considered to have a “pure” socialist system, Cuba, China, and North Korea have strong elements of socialist market economies.
    The idea of the Third World, which is usually traced to the late 1940s or early 1950s, was increasingly used to try and generate unity and support among an emergent group of nation-states whose governments were reluctant to take sides in the Cold War. These leaders and governments sought to displace the ‘East-West’ conflict with the ‘North-South’ conflict. The rise of Third Worldism in the 1950s and 1960s was closely connected to a range of national liberation projects and specific forms of regionalism in the erstwhile colonies of Asia and Africa, as well as the former mandates and new nation-states of the Middle East, and the ‘older’ nation-states of Latin America. Exponents of Third Worldism in this period linked it to national liberation and various forms of Pan-Asianism, Pan-Arabism, Pan-Africanism and Pan-Americanism. The weakening or demise of the first generation of Third Worldist regimes in the 1960s and 1970s coincided with or was followed by the emergence of a second generation of Third Worldist regimes that articulated a more radical, explicitly socialist, vision. A moderate form of Third Worldism also became significant at the United Nations in the 1970s: it was centred on the call for a New International Economic Order (NIEO). By the 1980s, however, Third Worldism had entered into a period of dramatic decline. With the end of the Cold War, some movements, governments and commentators have sought to reorient and revitalise the idea of a Third World, while others have argued that it has lost its relevance. This introductory article provides a critical overview of the history of Third Worldism, while clarifying both its constraints and its appeal. As a world-historical movement, Third Worldism (in both its first and second generation modalities) emerged out of the activities and ideas of anti-colonial nationalists and their efforts to mesh highly romanticised interpretations of pre-colonial traditions and cultures with the utopianism embodied by Marxism and socialism specifically, and ‘Western’ visions of modernisation and development more generally. Apart from the problems associated with combining these different strands, Third Worldism also went into decline because of the contradictions inherent in the process of decolinisation and in the new international politico-economic order, in the context of the changing character, and eventual end, of the global political economy of the Cold War.
    2)Gross National Income (GNI) per capita is the dollar value of a country’s final income in a year divided by its population using Atlas methodology.GNI per capita can raise a country’s standard of living. That’s because many citizens live in other countries to get better jobs. They also remit part of their wages back to their families at home. The United Nations uses the Human Development Index.
    Gross National Income (GNI) is the total amount of money earned by a nation’s people and businesses. It is used to measure and track a nation’s wealth from year to year. The number includes the nation’s gross domestic product (GDP) plus the income it receives from overseas sources.
    The more widely known term GDP is an estimate of the total value of all goods and services produced within a nation for a set period, usually a year. GNI is an alternative to gross domestic product (GDP) as a means of measuring and tracking a nation’s wealth and is considered a more accurate indicator for some nations. The U.S. Bureau of Economic Affairs (BEA) tracks the GDP to measure the health of the U.S. economy from year to year. The two numbers are not significantly different. Finally, there’s gross national product (GNP), which is a broad measure of all economic activity.
    3) Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance.
    1. Low Per Capita Income:
    The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan. According to these estimates for the year 1995, per capita income was $340 in India, $ 620 in China, $240 in Bangladesh, $ 700 in Sri Lanka. As against these, for the year 1995 per capita income was $ 26,980 in USA, $ 23,750 in Sweden, $ 39,640 in Japan and 40,630 in Switzerland.
    2. Excessive Dependence on Agriculture:
    A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
    4) YES
    Poverty has the face of a woman
    Reasons been that the female gender are mostly affected by poverty
    Our analysis shows that discrimination increases hunger and poverty for women,” said Asma Lateef, director of Bread for the World Institute. “Women earn less than men for doing the same job. They bear the burden of unpaid responsibilities such as housework and cooking and are the primary caregivers in their families.
    true that poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure hwo you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.

  21. Chukwugozie Samuel Chukwuemerie2019/248472.Economics& Political Science (Combined) says:

    1: China and India’s diplomacy with different developing countries and the heart of their foreign policy is based on alleged Virtuous Circle.It is opined that trade, investment and lending provide economic development opportunities for the duo countries and their developing counterparts.
    They are rhetoric about adopting the win-win models of development.

    2:United Nations indicators of Development include;
    *Income Per Capita
    *Economic Structure
    *Urbanization
    *Savings Figures
    *Quality of Life index
    *Human Development index

    Indicators of Underdevelopment include;
    *High Birth Rates
    *High Infant Mortality
    *Undernourishment
    *A large agricultural and Small industrial Sector
    *Low Percapita GDP.
    *High Level Of Illiteracy
    *Low life expectancy

    3* Low Level Of Living- People doesn’t live up to their full potentials
    Due to widespread level of Poverty
    The standards of living are low
    *Low Level Of Productivity – Productive activities are not fully enhanced in the developing Nations
    *High Rate of Population Growth and Dependency Ratio: Due to lack of education and also poverty
    The population scales up so high without a corresponding resource increase,thus making people depend on other people and the nation on other nations
    *High Level Of Unemployment and Underemployment
    Due to low economic downturn and poor productivity
    Unemployment scales up to a high rate and people are not fully employed in their potentials

    4:. Yes,I stand for the opinion that poverty has the face of a woman with the following points

    Poverty has a woman’s face because they face the triple burden of childbearing,child rearing and domestic unpaid labour.They have been denied opportunity to grow,are without access to health care, education or income and simultaneously forced to live in the tight bind of culture and traditions.
    Their poverty is multidimensional not only lack of income,but also of nutrition and health,they are denied education and ability to earn an adequate income.They don’t explore their innate capabilities.

  22. Nnabuike Chisom Favour 2019/245685 Economics department says:

    1. Two countries,China and India played a role in the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalists and communist. In April,1955, the Bandung conference was held. UN denominated numerically by European countries,was gradually transformed into something of a third world forum. The conference was a trigger for some governments including those of China, Egypt and Ghana, to begin to seek both domestic and international legitimacy by protraying themselves as exemplars of a committee to third world solidarity. The goals of the conference included the promotion of economic and cultural cooperation, protection of human rights and principle of self determination,a call to end racial discrimination on wherever it occurred, and a reiteration of the importance of peaceful coexistence. The conference also contained some hindrances for the evolution of the international human rights project.
    2. Developing countries are defined according to their GNI per capita per year,if it is less than US $11,905(World bank,2015) and recently it is less than US $12,275(World bank,2019). The activities of International Monetary Fund(IMF) and World bank ( together comprising the Bretton Woods Institution) in Africa have continued to generate questions about the impact of economic reforms on democratization and economic growth. They strongly believe that economic growth contributes significantly to poverty alleviation efforts and hence generates improvements in living standards, particularly in developing countries, including those in Africa.UN indicators of development include urbanization, saving figures, quality of life index, Human Development Index,etc while it’s indicators of under development include: high birth rates,high level of illiteracy,low life expectancy,etc.
    3. Some of the characteristics of developing countries are:
    a. Primary products exports: The primary products produced in the countries are being exported out of the country. This results to the hike in prices of the little remaining in the producing country.
    b. Dependency and vulnerability: When citizens of a country are easily exposed to dangers and wars, and still depends on the government for safety,it indicates a sign of under development.
    c. Substantial dependence on agricultural production: Agricultural production in these countries are still on a substantial level. Farmers produce to just take care of themselves and family.
    d. Widespread poverty: Poverty rate in these are very alarming. A greater percentage of people in these countries can barely feed themselves three times a day.
    4. Yes, indeed poverty has a woman’s face and this is seen in many of our communities. Women face the triple burden of child bearing,child rearing and domestic unpaid labour. They have been denied opportunities for growth, are without access to adequate healthcare, education or income. Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis, unemployment, precarious work,part time work,low salaries and slow career paths already affect women more than men.. Opportunities must be created to innovate and invest in women, to introduce better social programs, finding ways of integrating women into the labor force or reducing discrimination in financial markets.

  23. Udekwu Sharon 2019/249132 ECONOMICS says:

    Answer:
    1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.

    2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.

    3.
    1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
    2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
    3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
    4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
    5.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
    6.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.

    These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.

    4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.
    Additionally, women are also more likely to live in poverty in older age due to the lack of social security and pension schemes that cover for women.

  24. Alumona Godwin Okwudili 2019/242164 says:

    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist
    China and India are the two emerging economies of the world. As of 2019, China and India is 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute mort
    Capitalism is based on the Principle of Individual Rights, whereas Communism is based on the Principle of Community Rights

    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
    * Birth and death rates
    Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.

    * The Human Development Index (HDI)
    The HDI is a composite statistic calculated from the:

    Life expectancy index
    Education index
    Mean years of schooling index
    Expected years of schooling index
    Income index
    Countries are ranked based on their score and split into categories that suggest how well developed they are.

    * Infant mortality rate
    Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.

    * Literacy rate
    The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.

    High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.

    * Life expectancy
    This simple statistic can be used as an indicator of the:

    healthcare quality in a country or province
    level of sanitation
    provision of care for the elderly
    It should not, of course, be used on its own to describe these things.

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.

    *The common characteristics of developing nations are briefly explained below.

    Major Characteristics of Developing Countries
    Low Per Capita Real Income

    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    * Mass Poverty

    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    * Rapid Population Growth

    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

    * The Problem of Unemployment and Underemployment

    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

    * Excessive Dependence on Agriculture

    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    * Technological Backwardness

    The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

    * Dualistic Economy

    Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

    * Lack of Infrastructures

    Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

    * Lower Productivity

    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

    * High Consumption and Low Saving

    In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
    * its true that poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure hwo you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.

  25. 1. The rise of China and India as major world powers promises to test the established global order in the coming decades. As the two powers grow, they are bound to change the current international system—with profound implications for themselves, the United States, and the world. And whether they agree on the changes to be made, especially when it comes to their relationship with the West, will influence the system’s future character. A close examination of Chinese and Indian perspectives on the fundamentals of the emerging international order reveals that Sino-Indian differences on many issues of both bilateral and global significance are stark.

    KEY POINTS
    China and India’s sustained economic growth fuels their increasing geopolitical and military influence.

    Despite their developmental similarities, China and India’s bilateral strategic rivalry means that they have competing priorities on most major global issues.

    Sino-Indian differences are considerable on issues relating to the nonproliferation system, Asian security, regional stability in Southern Asia, and security in the maritime commons, space, and cyberspace. The two rising powers broadly agree on matters relating to the international economic system, energy security, and the environment.

    Because of its ongoing shift to the Asia-Pacific and status as the only global superpower, the United States must manage a complex set of relationships with China and India, which are at times working at cross-purposes.
    CHINESE AND INDIAN POSITIONS ON INTERNATIONAL ISSUES
    Global Order: China and India tend to agree on the importance of state sovereignty and the need to reform global governance institutions to reflect the new balance of power. They also share a strong commitment to the open economic order that has allowed both powers to flourish in the global marketplace. But the two diverge on many details of the international system, such as the future viability of the Non-Proliferation Treaty and the role of state-owned enterprises in fostering globalization.

    Regional Security: Both China and India want a stable Asia-Pacific that will allow them to sustain their economic prosperity, but they perceive threats very differently and have divergent priorities. Importantly, India seeks a resolute American presence in the region to hedge against possible Chinese excesses, while China sees the United States as significantly complicating its pursuit of its regional goals and worries about American containment attempts.

    Security in the Global Commons: Beijing and New Delhi rely heavily on open sea lines of communication, and as a result, they both support the current maritime security regime. However, their interpretations as to its provisions have occasionally diverged. In space, China enjoys significant advantages over India and has emphasized the military dimensions of its program, while New Delhi has only recently begun developing space-based military technology. Both countries are just beginning to wrestle with the difficult task of forming cybersecurity policies, but they have already acted to limit objectionable or illegal activities online. In striking the balance between online freedom and social stability, India has encountered a higher degree of opprobrium in the public sphere than its counterpart.

    Nontraditional Security: Chinese and Indian approaches to both energy and the environment broadly converge. Because India and China face a rising domestic demand for energy, they heavily rely on foreign suppliers of energy resources. This has prompted both governments to seek more efficient power sources and to secure their presence in overseas energy markets. On environmental policy, the two countries focus on primarily local and short-term concerns that must be balanced with the need for economic growth.

    2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.

    Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.

    Measuring economic activity in a country or region provides insights into the economic well-being of its residents.

    Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.

    Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.

    3. Low Per Capita Real Income

    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    Mass Poverty

    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    Rapid Population Growth

    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

    The Problem of Unemployment and Underemployment

    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

    Excessive Dependence on Agriculture

    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    Technological Backwardness

    The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

    4. To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.

    Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.

    Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.

  26. OMEBE SAMUEL OFORBUIKE says:

    NAME: OMEBE SAMUEL OFORBUIKE
    REG NO: 2019/246454
    DEPARTMENT: ECONOMICS

    (1) It is important to remember and know that the term third world countries was used at the 1955 conference of Afro- Asian, held in Bandung, Indonesia. This marked the beginning of the political emergence of the third world. Two nations(China and India) whose social and Economic system where sharply opposed(Socialism and Communism) had the most vital influence in promoting the conference. As a result of decolonization,most colonized countries became a sovereign state. These countries shared various features, including common history as had been subjected to European and North American domination,underdevelopment,rapid demographic growth etc. and they were called as the ‘Third World‘.The term ‘ThirdWorld’ referred to the one-third of the super powers i.e. the United States and the Soviet Union. Third World,not a homogenous group,has different political system and level of economic development. The Third World countries are also called developing countries because they are facing the economic,social and political problems like poverty,starvation,illiteracy and ethnic conflicts. This countries have opposed imperialism, colonialism, foreign intervention and have supported peaceful co-existence. Since they all have similar challenges and aspirations formed and called themselves a non- alignment countries. Non- alignment here means not belonging to any of the two world powers or Bloc(America and Russia).
    (2)The set of indices developed by UN and other global agencies on how to measure development includes:
    (i) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:
    (a) Life expectancy
    (b) Educational attainment and
    (c) Adjusted real income
    The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of many African countries for example. Countries like USA,France,South Korea etc are examples of countries with high HDI.
    (ii) UN’s Human Poverty Index (HPI): This index measures deprivation using % of people expected to die before age 40, % of of illiterate adults, % of people without access to health services and safe water and the % of underweight children under five.
    Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due yto lack of education etc.
    Norway formally was regarded as country with low HPI,but currently, Switzerland which was formerly second in the ranking is now dominating as the country with the lowest HPI.
    Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered undeveloped.
    According to World Bank, countries with a GNI of 11,905 US dollar and less are developing (specified by the World Bank,2015) and 12,275 US dollar (World Bank,2019)

    (3) The following are the common charecteristics of Developing Nation:
    (i) Low level of living: in almost all the developing countries, the populace of the country is faced with low level of living, as they are poor and unable to adequately provide there basic necessities of life.
    (ii) Low Level of Productivity: One common feature that most developed countries posses, that developing countries does not posses is Economic growth which is measured based on a countries productive ability. In developing countries,resources are under utilized and this gives rise to low level of productivity. Even though developing countries Economy is Agrarian, the output from agricultural activities is still low due to employing local methods of agriculture.
    (iii) High rate of Population growth and dependency burdens: Developing countries are mostly characterised by an incessant increase in their population. Not just that,the rate of the dependent population also rises due to increase in population without a corresponding increase in employment, production level etc.

  27. 1. The concurrent rise of China and India represents a geopolitical event of historic proportions. Rarely has the global system witnessed the reemergence of two major powers simultaneously—states that possess large populations, have ancient and storied histories, abut each other spatially and politically, and dominate the geographic environs within which they are located. Their return to center stage after several centuries of imperial domination thus presages the reincarnation of an earlier era in Asian geopolitics when China and India were among the most important concentrations of political power in the international system since the fall of Rome. The parallel revival of these two nations also dramatically exemplifies Asia’s resurgence in the global system. Although there has been a steady shift in the concentration of capabilities from West to East ever since the end of World War II, this transformation took a decisive turn when the smaller, early-industrializing nations of Asia—Japan, South Korea, Taiwan, and Singapore—were joined by the large, continental-sized states of China and India.

    The recent renaissance of China and India is owed in large measure to their productive integration into the liberal economic order built and sustained by American hegemony in the postwar period. As a result of that integration, both of these giants have experienced dramatic levels of economic growth in recent decades. China’s economic performance, for example, has been simply meteoric, exceeding even the impressive record set by the first generation of Asian tigers between 1960 and 1990. During the last thirty or so years, China has demonstrated average real growth in excess of 9 percent annually, with growth rates touching 13–14 percent in peak years.

    As a result, China’s per capita income rose by more than 6 percent every year from 1978 to 2003—much faster than that of any other Asian country, significantly better than the 1.8 percent per year in Western Europe and the United States, and four times as fast as the world average. This feat has made the Chinese economy—in purchasing-power-parity terms—the second largest in the world with a 2010 gross domestic product (GDP) of roughly $10 trillion. Many scholars believe that China will likely overtake the United States in GDP size at some point during the first half of this century.

    India’s economic performance has not yet matched China’s in either intensity or longevity. New Delhi’s economic reforms, which have produced India’s recent spurt in growth, began only in the early 1990s, over a decade after China’s. To date, these reforms have been neither comprehensive nor complete, and they have been hampered by the contestation inherent in India’s democratic politics, the complexity of the Indian federal system, the lack of elite consensus on critical policy issues, and the persistence of important rent-seeking entities within the national polity.

    Beijing’s and New Delhi’s divergent behaviors are shaped by the unique histories governing their formation as modern states, the stark contrasts in their respective political regimes, and their ongoing territorial disputes and geopolitical rivalries.
    Yet despite these disadvantages, the Indian economy has grown at a rate of about 7.5 percent during the first decade of this century. The country thus eclipsed its own historic underperformance and enabled a doubling of per capita income about every decade, placing the Indian economy, when measured by purchasing-power-parity methods, in fourth place globally with a 2010 GDP of approximately $4 trillion. More interestingly, India’s growth—unlike China’s, which relies extensively on foreign capital and export markets—has derived largely from internal sources. Accordingly, many analysts have concluded that continuing economic reforms will enable the country not only to reach its targeted objective of sustained double-digit growth but also to catch up with China in coming decades as Beijing’s own growth slows because of its incipient demographic transitions.

    Even if these exact expectations are not met, China and India are likely to sustain their relatively high levels of GDP growth for some time to come. This continual accretion of economic power will position them among the top three economies internationally by the year 2030, if not earlier, thus confirming their status as global giants. Propelled by the rapid economic growth achieved thus far, China and India are already extending their political influence as well as strengthening their military capabilities and reach. China is quickly closing in on its goal of becoming a major global power, if it is not one already, and India is likely to achieve global-power status in the next two decades. Chinese and Indian contributions to the expansion of the international economic system are generally welcomed, with growth in both nations promising to function as the motor of the international economy for several decades to come. The two countries also share a common interest in ensuring that the international environment is peaceful to guarantee their continued economic consolidation and domestic political stability.

    But if the history of previous rising powers is any indication, as China and India continue to grow they will want to progressively reshape the international system to advance their own interests—interests that may differ from those of the United States, the established hegemon that sustains the current global order. This does not imply, however, that Beijing and New Delhi invariably share common objectives in opposition to Washington. To be sure, the two countries are united by certain acknowledged aims: recovering the preeminence they once enjoyed as international entities of consequence; establishing a multipolar world with themselves as constituent poles; avoiding the costs of contributing to global public goods on the grounds that their vast developmental challenges are not yet overcome; and protecting their hard-won sovereignty in the face of new principles justifying foreign intervention in the internal affairs of states.

    Despite these convergent objectives, China and India are also divided by deep differences in the conduct of their political affairs. Beijing’s and New Delhi’s divergent behaviors are shaped by the unique histories governing their formation as modern states, the stark contrasts in their respective political regimes, and their ongoing territorial disputes and geopolitical rivalries, which are exacerbated by their growing prominence in international politics. As one analysis concluded, “the relation[ship] between Asia’s two great powers can best be characterized as one of global cooperation on transnational issues especially vis-à-vis the ‘West,’ geostrategic rivalry at the regional level in the form of growing commercial exchange and in some cases bilateral competition.”1 This statement captures, in many ways, the conventional wisdom about the dichotomy in Sino-Indian ties: a broad convergence on transnational issues complemented by a deep bilateral rivalry that persists despite the two countries’ mutual and growing economic interdependence.

    Whether the agreement on issues of global order, especially vis-à-vis the West, is real or whether it merely obscures important differences between the two rising powers is a critical question because it bears on the character and the extent of change that might be desired of the international system as it evolves. Accordingly, there is a pressing need to understand how these two emerging powers conceive of various issues relating to the global order. Such an understanding would reveal the extent of their comfort with the existing system while simultaneously providing clues about how they might seek to reshape it if they acquire the ability to do so in the future.

    This volume is an attempt to understand how China and India think about various dimensions of the emerging global order. It brings together a series of paired papers by distinguished Chinese and Indian scholars who address a common set of questions (listed at the beginning of each chapter) relating to four broad areas of concern: the evolving global order, the challenges of regional security, key problems of the global commons, and emerging nontraditional security concerns.

    2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.

    Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.

    Measuring economic activity in a country or region provides insights into the economic well-being of its residents.

    Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.

    Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.

    3. Dualistic Economy

    Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

    Lack of Infrastructures

    Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

    Lower Productivity

    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

    High Consumption and Low Saving

    In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

    The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020.

    4. To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.

    Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.

    Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.

  28. NDUUL MICHAEL TERUNGWA says:

    1. The concurrent rise of China and India represents a geopolitical event of historic propor- tions. Rarely has the global system witnessed the reemergence of two major powers simulta- neously—states that possess large populations, have ancient and storied histories, abut each other spatially and politically, and dominate the geographic environs within which they are located. Their return to center stage after several centuries of imperial domination thus presages the reincarnation of an earlier era in Asian geopolitics when China and India were among the most important concentrations of political power in the international system since the fall of Rome. The parallel revival of these two nations also dramatically exemplifies Asia’s resurgence in the global system. Although there has been a steady shift in the concentration of capabilities from West to East ever since the end of World War II, this transformation took a decisive turn when the smaller, early-industrializing nations of Asia—Japan, South Korea, Taiwan, and Singapore—were joined by the large, continental-sized states of China and India. The recent renaissance of China and India is owed in large measure to their productive integration into the liberal economic order built and sustained by American hegemony in the postwar period. As a result of that integration, both of these giants have experienced dramatic levels of economic growth in recent decades. China’s economic performance, for example, has been simply meteoric, exceeding even the impressive record set by the first generation of Asian tigers between 1960 and 1990. During the last thirty or so years, China has demonstrated average real growth in excess of 9 percent annually, with growth rates touching 13–14 percent in peak years.
    The two countries also share a common interest in ensuring that the international environment is peaceful to guarantee their continued economic consolidation and domestic political stability. But if the history of previous rising powers is any indication, as China and India contin- ue to grow they will want to progressively reshape the international system to advance their own interests—interests that may differ from those of the United States, the established he- gemon that sustains the current global order. This does not imply, however, that Beijing and New Delhi invariably share common objectives in opposition to Washington. To be sure, the two countries are united by certain acknowledged aims: recovering the preeminence they once enjoyed as international entities of consequence; establishing a multipolar world with themselves as constituent poles; avoiding the costs of contributing to global public goods on the grounds that their vast developmental challenges are not yet overcome; and protecting their hard-won sovereignty in the face of new principles justifying foreign intervention in the internal affairs of states.
    Despite these convergent objectives, China and India are also divided by deep differ- ences in the conduct of their political affairs. Beijing’s and New Delhi’s divergent behaviors are shaped by the unique histories governing their formation as modern states, the stark contrasts in their respective political regimes, and their ongoing territorial disputes and geopolitical rivalries, which are exacerbated by their growing prominence in international politics. As one analysis concluded, “The relation[ship] between Asia’s two great powers can best be characterized as one of global cooperation on transnational issues especially vis-à- vis the ‘West,’ geostrategic rivalry at the regional level in the form of growing commercial exchange and in some cases bilateral competition.”1 This statement captures, in many ways, the conventional wisdom about the dichotomy in Sino-Indian ties: a broad convergence on transnational issues complemented by a deep bilateral rivalry that persists despite the two countries’ mutual and growing economic interdependence. Whether the agreement on issues of global order, especially vis-à-vis the West, is real or whether it merely obscures important differences between the two rising powers is a critical question because it bears on the character and the extent of change that might be desired of the international system as it evolves. Accordingly, there is a pressing need to understand how these two emerging powers conceive of various issues relating to the global order. Such an understanding would reveal the extent of their comfort with the existing system while simultaneously providing clues about how they might seek to reshape it if they acquire the ability to do so in the future.
    This volume is an attempt to understand how China and India think about various dimensions of the emerging global order. It brings together a series of paired papers by distinguished Chinese and Indian scholars who address a common set of questions (listed at the beginning of each chapter) relating to four broad areas of concern: the evolving global order, the challenges of regional security, key problems of the global commons, and emerg- ing nontraditional security concerns.

    2. In general, a country can be economically categorized on a spectrum as underdeveloped (lowest income), developing, or developed (highest income). A developing country has a lower-income economy (with a per capita Gross National Income of less than $11,095) when compared to that of a developed country. In comparison to an underdeveloped country, a developing country has a higher-income economy. Therefore, the economy of a developing country sits in the middle of the economic spectrum of per capita income provided by the World Bank.
    Human Development Index (HDI)
    While GDP and GNI are both economic measures to compare overall development, the Human Development Index (HDI) was created to account for not only economic growth of a nation, but also to lend credit to the human potential of the people living within a country. The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and having a decent standard of living. The HDI is the geometric mean of normalized indices for each of the three dimensions.” – United Nations Human Development Program While GDP and GNI are both numerical values provided by the World Bank, the HDI of a country will be calculated and correlated to a numerical scale of 0 (least developed) to 1 (most developed).
    Gross National Income (GNI) is the total amount of money earned by a nation’s people and businesses. It is used to measure and track a nation’s wealth from year to year. The number includes the nation’s gross domestic product (GDP) plus the income it receives from overseas sources. The more widely known term GDP is an estimate of the total value of all goods and services produced within a nation for a set period, usually a year. GNI is an alternative to gross domestic product (GDP) as a means of measuring and tracking a nation’s wealth and is considered a more accurate indicator for some nations. The U.S. Bureau of Economic Affairs (BEA) tracks the GDP to measure the health of the U.S. economy from year to year. The two numbers are not significantly different. Finally, there’s gross national product (GNP), which is a broad measure of all economic activity.

    3. Major Characteristics of Developing Countries

    *Low Per Capita Real Income
    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    *Mass Poverty
    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    *Rapid Population Growth
    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

    *The Problem of Unemployment and Underemployment
    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries. 

    4. Firstly I do not agree that poverty has the face of a woman. I do not think that one should put a face to the world’s disease, called poverty. Some people may argue about its sources, and on this point I would agree with the comment that “women are often on the forefront of poverty” where men are presented to be the main income creator, but still this does not mean that one can connect this phenomenon with gender. From the moment that we start to theorize about poverty’s gender, we are trapped because it does not help us in any case, in fact provokes many questions and in some way destroys the concept of gender equality. It is true that the mass media expresses poverty by using the picture of  women and children, but I think is created with an aim, to show us how important it is for this world to help the mothers in need, but it does not serve to show that poverty has a women’s face. 

  29. Ossai Mary Amarachi 2019/243684 says:

    OSSAI MARY AMARACHI
    2019/243684
    ECONOMICS DEPARTMENT
    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
    In 1955 the Bandung conference was held with participants from countries of Asia and Africa. Before this major conference was held, countries of the participating continents were under the imperial rule of the western and European countries. The conference, with China and India at the fore front sought to establish self-sufficiency, mutual respect for sovereignty and generally equality for member states. Countries referred to as the third world were countries who were neither members of the west (the capitalist) and the east (communist) and as such were keen on being neutral about the cold war between the first and second worlds. The conference was a platform the third world used to discuss matters that would enable them to forge ahead in areas of their political, economic and social situation following the de-colonization of the countries involved, the issues of over reliance on western and European governments were tabled and the solutions which would include cooperation amongst themselves and the protection of human rights were also discussed. With the success of the conference and doing so without forming allies or enemies, the countries of the third world could now squarely focus on the issues of underdevelopment that riddled them.

    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
    Different institutions have different approaches to the measurement of development. Some of them include:
    The World Bank delegates the world’s economies and their scale of development in four income groups. The classifications are updated every 1st July and are based on the GNI of the previous year, also the GNI is expressed in US dollars. The groups are as follows
    a. Low income countries
    b. Lower-middle income countries
    c. Upper –middle income countries
    d. High income countries
    Low income countries have a GNI per capita of less than 1,085 us dollars, countries with 1,086-4,225 are in the lower-middle income group, those with 4,256-13,205 are regarded as upper-middle income countries and finally those with more than 13,205 GNI per capita are classified as high income countries.
    The United Nations use the Human development index to measure development and under development. Countries with higher HDI are said to be developed, while countries with relatively lower HDI are said to be underdeveloped. The HDI of a country is composed of the life expectancy, the level of education, and per capita income of a nation. Countries with very high human development index include, Norway and Switzerland. Norway’s HDI is 0.961 which according to the UN is very high and therefore it is a developed country. Whereas Nigeria has a HDI of 0.471 which is very low and is therefore an underdeveloped nation

    3. Clearly discuss and analyses the Common Characteristics of Developing Nations.
    a. Developing nations have low levels of living; the standards of living for people in developing nations are low, they are not able to afford basic necessities needed to sustain their life and enhance their wellbeing, shelter is deprived as well as food and good clothing. Most people in developing nations merely survive living in these terrible conditions.
    b. Low level of productivity; developing nations are often faced with the struggle of efficient productivity. Poor working conditions, lack of incentives (very low minimum wages), insecurity, bad policies, corruption and most importantly unemployment and underemployment of the factors of production cause developing countries to lag behind in their levels of productivity.
    c. High rates of population growth and dependency burden: most developing countries face the problem of overpopulation which could result to an increase in the number of dependent citizens, over population could be as a result of urbanization of restrictions to birth control methods due to religious beliefs or illiteracy. Dependent individual are not able to fend for themselves they may include children, elderly people or people living with disabilities
    d. High and rising rates of unemployment and underemployment; developing nations are characterized by having people who are willing and able to work but have no jobs and therefore cannot contribute productively on the other hand underemployment refers to a situation where peoples job descriptions do not match their skills causing them to contribute and earn lesser than they should. The issue of underemployment is prevalent in developing countries. Nigeria a developing country has an unemployment rate of 33%.

    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyses this statement. Do you agree or disagree? If yes, why? If you know?
    According to the World Bank, 1.29 billion people live in absolute poverty and 70% are women. Poverty is multi-faceted, it tells of restrictions, inequality, deprivations and seclusions and limitations of access all of which are not alien to women folk. To say that poverty has the face of a woman is sad but true. Women are burdened with the expectations of being household care takers especially in developing nations, causing the brunt of lack and want in households to be on their shoulders, women are denied education that can enable them to earn higher incomes and pressurized into undertaking unpaid labors due to religious and cultural biases. These gender discriminations impoverish them, making them unequal to their male counterparts. Also the complications of child bearing and child rearing are inalienable for most women in developing worlds, they undergo various health challenges and suffer malnutrition in a bid to raise their children. Women are vulnerable when it comes to discriminations and are not free socially and financially to lift themselves out of poverty because of patriarchal structures. If a society must alleviate poverty it must seek to free all and not just some, women should not be denied their rights to make choices whether they be financial, religious, educational or social, they should be paid for their labor and not exploited and then these freedoms can extend to their children and make the society better off.

  30. Aneke Chinaecherem Emmanuella says:

    NAME: Aneke Chinaecherem Emmanuella

    REGNOM: 2019/242940

    EMAIL: chinecheremaneke21@gmail.com

    1. After the independence of India in 1947 it established relations with the Republic of China.
    The modern Indo-China diplomatic relationship began in 1950 when India was among the first non-Communist countries to end formal relations with the Republic of China and recognize the People’s Republic of China (PRC) as the legitimate government of both mainland China and Taiwan.

    India and China’s relationship is known to be contemporary and conflicting; there have been 3 military conflicts between India and China, The Sino-Indian War of 1962, the border clashes in Nathu La and Cho La in 1967, and the Sundorong Chu Standoff in 1987.

    In late 1980 the country successfully rebuilt its diplomatic and economic relations.

    In recent years the two Armies have standoffs at the Doklam plateau along with the disputed Bhutan-China border and in 2020 there have been earned stand and skimmers at multiple locations along the entire Indo-China border.

    The clash between Indo-China in the Galwan valley is marked as a serious issue that resulted in 20 deaths of Indian soldiers and an undisclosed number of Chinese soldiers.

    India’s Foreign Policy
    According to the majority of political experts, the global political architecture is changing as power gradually shifts from the West to the East. China and India, the two most populous countries, are losing their hesitation to express their worldwide profiles and are on their path to becoming economic powerhouses. The relationship between China and India, the two regional powerhouses, will be crucial to the direction of this Asian century. Despite favorable changes in the recent few years, the trajectory of the India-China relationship is still very convoluted and challenging to understand.

    The political elite in India frequently claims that Indian foreign policy has a clear continuity.

    There is obvious consistency in India’s official position about its China policy. All political parties in India agree that bilateral relations with China should be strengthened and that dialogue should be used to resolve disputes between the two countries.

    2a. Low Per Capita Real Income: the real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    2b. Mass Poverty: most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    2c. Rapid Population Growth: developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options,l lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

    2d. The Problem of Unemployment and Underemployment: unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

    2e. Excessive Dependence on Agriculture: the majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    2f. Technological Backwardness: the development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

    2g. Dualistic Economy: duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

    2h. Lack of Infrastructures: infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

    2i. Lower Productivity:in developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

    2j. High Consumption and Low Saving: in developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

    3. According to the united nations, countries with less than $1,035 GNI per Capita are classified as low income countries. Those with between $1,036 and $4,085 as lower middle income countries, those with between $4,086 and $12,615 as upper middle countries and those with incomes of more than $12, 615 as high income countries.

    The united nation development program uses HDI as the main criterion for measuring development. This criterion takes into consideration other development indicators like literacy level, life expectancy index, per Capita income, education index, mean years of schooling index, expected years of schooling index etc.

    According to the world bank, they used per Capita income as the main criterion in classifying different countries~ this per Capita income is the total income of a country divided by the number of people in that country.

    They equally uses GDP. It refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price.

    4.The feminization of poverty was coined by a social worker named Dr. Diana Pearce in 1978.

    To me, I feel it’s gender biased.

    Why me?

    Why women?

    Why not men?

    It’s gender biased.

    Poverty is suppose to have the face everyone for it to be balanced but due to inequality and the mistreatment of women by the society, they concluded it should have a woman’s face.

    Women are made to suffer more in the society. They bear children, do the domestic works and chores and as well take of the husband still, they’re not paid anything.

    In our society, even when a woman is qualified to do same job with a man, a woman is paid less because they feel that’s how it should be.

    In conclusion, I feel the phrase isn’t necessary and it’s very wrong to think in this manner. We’re one country and, if one thing should affect one, it should affect all so, poverty should have both the face of a man and a woman.

  31. Omitoogun Matteen Omidayo 2019/244704 says:

    (1). Scientific research is a research that involves the processes of observation, hypothesis testing before drawing conclusions. It is a research that goes through critical evaluation.
    Non-scientific research is a research that doesn’t involve the scientific processes. It is a research in which the conclusions are drawn based on guess works or opinions.
    The difference between these two types of research is that scientific research goes through critical evaluation processes to ensure that information found is valid while non-scientific research just concludes without critical findings. This is the main difference between the two researches.

    (2). The characteristics of scientific research are Validity, Criticality, Rigorousness, Generalizability, Objectivity and Logicality and Systemsticism.

  32. Okoro Henry Chukwuebuka 2019/249001 says:

    1.Prior to the initiation of economic reforms and trade liberalization nearly 40 years ago, China maintained policies that kept the economy very poor, stagnant, centrally controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free-market reforms in 1979, China has been among the world’s fastest-growing economies, with real annual gross domestic product (GDP) growth averaging 9.5% through 2018, a pace described by the World Bank as “the fastest sustained expansion by a major economy in history.” Such growth has enabled China, on average, to double its GDP every eight years and helped raise an estimated 800 million people out of poverty. China has become the world’s largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves. This in turn has made China a major commercial partner of the United States. China is the largest U.S. merchandise trading partner, biggest source of imports, and third-largest U.S. export market. China is also the largest foreign holder of U.S. Treasury securities, which help fund the federal debt and keep U.S. interest rates low.

    As China’s economy has matured, its real GDP growth has slowed significantly, from 14.2% in 2007 to 6.6% in 2018, and that growth is projected by the International Monetary Fund (IMF) to fall to 5.5% by 2024. The Chinese government has embraced slower economic growth, referring to it as the “new normal” and acknowledging the need for China to embrace a new growth model that relies less on fixed investment and exporting, and more on private consumption, services, and innovation to drive economic growth. Such reforms are needed in order for China to avoid hitting the “middle-income trap,” when countries achieve a certain economic level but begin to experience sharply diminishing economic growth rates because they are unable to adopt new sources of economic growth, such as innovation.

    The Chinese government has made innovation a top priority in its economic planning through a number of high-profile initiatives, such as “Made in China 2025,” a plan announced in 2015 to upgrade and modernize China’s manufacturing in 10 key sectors through extensive government assistance in order to make China a major global player in these sectors. However, such measures have increasingly raised concerns that China intends to use industrial policies to decrease the country’s reliance on foreign technology (including by locking out foreign firms in China) and eventually dominate global markets.

    In 2017, the Trump Administration launched a Section 301 investigation of China’s innovation and intellectual property policies deemed harmful to U.S. economic interests. It subsequently raised tariffs by 25% on $250 billion worth of imports from China, while China increased tariffs (ranging from 5% to 25%) on $110 billion worth of imports from the United States. Such measures have sharply decreased bilateral trade in 2019. On May 10, 2019, President Trump announced he was considering raising tariffs on nearly all remaining products from China. A protracted and escalating trade conflict between the United States and China could have negative consequences for the Chinese economy.

    China’s growing global economic influence and the economic and trade policies it maintains have significant implications for the United States and hence are of major interest to Congress. While China is a large and growing market for U.S. firms, its incomplete transition to a free-market economy has resulted in economic policies deemed harmful to U.S. economic interests, such as industrial policies and theft of U.S. intellectual property. This report provides background on China’s economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China’s economic rise for the United States.
    2.1. National Income as an Index of Development:

    There is a group of certain economists which maintains the growth of national income should be considered most suitable index of economic development. They are Simon Kuznets, Meier and Baldwin, Hicks D. Samuelson, Pigon and Kuznets who favored this method as a basis for measuring economic development. For this purpose, net national product (NNP) is preferred to gross national product (GNP) as it gives a better idea about the progress of a nation.According to Prof. Meier and Baldwin, “If an increase in per capita income is taken as the measure of economic development, we would be in the awkward position of having to say that a country had not developed if its real national income, had risen but population had also risen at the same rate.”

    Similarly, Prof. Me de maintains that, “Total income is a more appropriate concept to measure welfare than income per capita.” Therefore, in measurable economic development, the most appropriate measure will be to include final goods and services produced but we must allow for the wastage of machinery and other capital goods during the process of production.
    2.. Per Capita Real Income:

    Some economists believe that economic growth is meaningless if it does not improve the standard of living of the common masses. Thus, they say that the meaning of economic development is to increase aggregate output. Such a view holds that economic development be defined as a process by which the real per capita income increases over a long period time. Harvey Leibenstein, Rostow, Baran, Buchanan and many others favour the use of per capita output as an index of economic development.The UNO experts in their report on ‘Measures of Economic Development of Under-developed Countries’ have also accepted this measurement of development. Charles P. Kindleberger also suggested the same method with proper precautions in computing the national income data.
    3.. Economic Welfare as an Index of Economic Development:

    Keeping in view the drawbacks of real national income and real per capita measures of economic development, some economists like Coline Clark, Kindleberger, D. Bright Singh, Hersick etc. suggested economic welfare as the measure of economic development

    3.1. Low Per Capita Real Income
    Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.

    It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.

    2. High Population Growth Rate
    Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.

    3. High Rates of Unemployment
    In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.

    4. Dependence on Primary Sector
    Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.

    5. Dependence on Exports of Primary Commodities
    Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
    4.Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship, say MEPs in a non binding resolution adopted on Tuesday. Two other resolutions look at measures to combat gender stereotyping in the EU and to protect women’s rights in North Africa.

    “Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment,” said rapporteur Elisabeth Morin-Chartier (EPP, FR) in Monday’s debate marking International Women’s Day.

    Parliament points out that cuts in education, childcare and care services have pushed women to work shorter hours or part-time, thereby reducing not only their income but their pensions as well.

    Okoro Henry Chukwuebuka
    2019/249001
    Economics department

  33. Ogbuagu Chiamaka Rosita says:

    Name: Ogbuagu Chiamaka Rosita
    Reg no: 2019/241915
    Department: Economics department
    Course code: Eco 361
    Course title: Development Economics

    1. The Bandung conference of 1955 led to the emergence of the third world. India played a major role in raising the voice of newly independent countries. As a result of independence movement, the United Nations, was gradually transformed into a third world forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and Sri Lanka discussed peace, role of the Third World, economic development, and decolonization process. They tried to chart out a diplomatic course as neutrals or ‘nonaligned‘ to either Russia or America in the Cold War. The Bandung Conference was based on the principles of political self-determination, mutual respect for sovereignty, nonaggression, non-interference in internal affairs, and equality. Conference paved way for the emergence of third world free from evils of capitalism and communism. Thus, the concept of the ‘Third World‘ was born. Communist China was one of the countries participating as the Third World Country rather than the Russian Soviet orbit. The 1955 Bandung Conference was the first attempt at the creation and establishment of a third force in global politics. The term Third World was adopted to refer to a self-defining group of non-aligned states. The Bandung Conference played an important role in mobilizing the counter-hegemonic forces to be known as the Third World. There were other priority areas as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via the United Nation .The conference also emphasis on the issues of increased cultural and technical cooperation between African and Asian governments along with the establishment for an economic development fund .It also raised its voice for the required support for human rights and the self-determinations of peoples and nations by the world community and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind of perspective the international politics marked the emergence of a non-aligned bloc from the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the Bandung spirit is not ‘detachment‘ from the powerful Western countries, but non-aligned self-helped ‘organization against‘ the powerful countries.
    2. The Bretton Woods Institutions—the IMF and World Bank have an important role to play in making globalization work better. They were created in 1944 to help restore and sustain the benefits of global integration, by promoting international economic cooperation. Today, they pursue, within their respective mandates, the common objective of broadly-shared prosperity. The World Bank concentrates on long-term investment projects, institution-building, and on social, environmental, and poverty issues. The IMF focuses on the functioning of the international monetary system, and on promoting sound macroeconomic policies as a precondition for sustained economic growth. The greatest asset that the Bretton Woods Institutions have in fulfilling these objectives is their culture of consensus-building, which is based on trust and mutual respect among the more than 180 countries—and their governments—that make up their membership. The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development.
    Together, International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA) form the World Bank, which provides financing, policy advice, and technical assistance to governments of developing countries. IDA focuses on the world’s poorest countries, while IBRD assists middle-income and creditworthy poorer countries.
    International Finance Corporation (IFC), Multilateral Investment Guarantee Agency(MIGA), and International Centre for Settlement of Investment Disputes(ICSID) focus on strengthening the private sector in developing countries. Through these institutions, the World Bank Group provides financing, technical assistance, political risk insurance, and settlement of disputes to private enterprises, including financial institutions.
    The International Monetary Fund works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. The IMF’s primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries and their citizens to transact with each other. It does so by keeping track of the global economy and the economies of member countries, lending to countries with balance of payments difficulties, and giving practical help to members.
    However, both institutions also recognize the need for change and internal reform. The IMF has implemented many reforms in recent years, designed to strengthen its cooperative nature and improve its ability to serve its membership. To mention a few: The IMF has increasingly become an open and transparent organization, as demonstrated by the overwhelming amount of information now available on its internet website. It is also encouraging transparency among its membership.
    It is taking action to strengthen economic governance. For instance, it is promoting the use of standards and codes as vehicles for sound economic and financial management and corporate governance.
    It is working to safeguard the stability and integrity of the international financial system as a global public good. In particular, the joint IMF-World Bank Financial Sector Assessment Program (FSAP) is at the core of efforts
    to strengthen financial sectors and combat money laundering in member countries. It is encouraging true national ownership of reforms by streamlining the conditions attached to IMF-supported programs. While conditionality remains essential, countries must themselves take responsibility for implementing the necessary reforms. Lastly, the IMF is an institution ready to listen and learn, and not just from its member governments. It recognizes and values the role of civil society organizations in articulating the moral foundations for collective action and building grass roots support.
    3. Low level of living: The standard of living is a measure of the material aspects of a national or regional economy. It counts the amount of goods and services that are produced and available for purchase by a person, family, group, or nation. The generally accepted measure of the standard of living is GDP per capita. This is a nation’s gross domestic product divided by its population. The GDP is the total output of goods and services produced in a year by everyone within the country’s borders. Real GDP per capita removes the effects of inflation or price increases. Real GDP is a better measure of the standard of living than nominal GDP. A country that produces a lot will be able to pay higher wages. That means its residents can afford to buy more of its plentiful production. This low level of living affect a nation is so many ways: i, Soaring debt, that is, constant increase in their debt. Their debts have not only grown but also may become costlier and riskier. ii, Export marginalization. iii. Energy poverty. iv. Climate vulnerability.
    Widespread proverty: Poverty is about not having enough money to meet basic needs including food, clothing and shelter. However, poverty is more, much more than just not having enough money.
    The World Bank Organization describes poverty in this way: “Poverty is hunger. Poverty is lack of shelter. Poverty is being sick and not being able to see a doctor. Poverty is not having access to school and not knowing how to read. Poverty is not having a job, is fear for the future, living one day at a time. Poverty has many faces, changing from place to place and across time, and has been described in many ways. Most often, poverty is a situation people want to escape. So poverty is a call to action — for the poor and the wealthy alike — a call to change the world so that many more may have enough to eat, adequate shelter, access to education and health, protection from violence, and a voice in what happens in their communities.” The impact of poverty is majorly witnessed in the health of individuals due to a lack of sufficient food, proper clothing, medical services, and sanitary living conditions. Malnutrition is a problem for these people and their families. Poverty is linked to unfavourable situations such as inferior housing, homelessness, inadequate food and nutrition insecurity, inadequate care for children, lack of access to health care, hazardous neighbourhoods, and underfunded schools, all of which have a detrimental influence on our country’s children.
    High and rising levels of unemployment and underemployment: unemployment, the condition of one who is capable of working, actively seeking work, but unable to find any work. Underemployment is the term used to designate the situation of those who are able to find employment only for shorter than normal periods—part-time workers, seasonal workers, or day or casual workers. The term may also describe the condition of workers whose education or training make them overqualified for their jobs. If the population grows faster than the stock of capital of a country, the entire addition to the labour force cannot be absorbed in productive employment because not enough instruments of production would be there to employ them. Since in less developed countries, the stock of capital has not been growing at a rate fast enough to keep pace with the growth of population, the ability to offer productive employment is very limited. This has resulted in surplus labour which is manifested in the existence of huge magnitude of under-employment or disguised unemployment and open unemployment in both the rural and urban areas. The effects of underemployment are similar to those of unemployment. Both cause higher poverty levels. Without adequate income, families don’t buy as much. That reduces consumer demand, slowing business growth. As a result, the nation’s gross domestic product is lower, as is job growth. It’s a vicious, downward spiral. If underemployment continues, workers lose the ability to update their skills with on-the-job training. They may not be able to return to their former field without training. Some retrain for different fields. Others downscale their lifestyle and accept long-term underemployment. That creates structural unemployment. Younger people may find they never get a good start to their career. Forced to take jobs that are beneath their skills, they don’t get on the right track. They miss the mentoring needed to get increased responsibility that would update their skills. By the time the recession ends, they are competing with a new batch of graduates for entry-level positions in their fields.
    4. Yes. It’s true that poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure hwo you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.

  34. Dike Nwachukwu Onyedikachukwu 2019/241349 says:

    1. The Chinese Economy since the Start of the Reform and Open-door Policy;
    The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.
    The obvious aim of this policy shift was to rebuild its economy and society that were devastated by the Cultural Revolution. The policy shift also appears to have been prompted by recognition that the incomes of ordinary Chinese were so low, in comparison with incomes in other Asian economies, that the future of the Chinese state and the communist regime would be in jeopardy unless something was done to raise living standards of its people through economic growth.
    The government subsequently established a number of areas for foreign investment, including the special economic zones, open coastal cities, the economic and technology development zones, the delta open zones, the peninsula open zones, the open border cities, and the high-tech industry development zones. The establishment of these zones provided the trigger for massive inflows of foreign investment, primarily from companies in Hong Kong and Taiwan. At the same time, China promoted its socialist market economy concept. The changes brought an entrepreneurial boom that resulted in the emergence of huge numbers of entrepreneurs and venture businesses within China.
    Inflows of foreign capital, technology, and management knowhow enabled China to turn its vast labor resources and space to rapid economic growth. The shift to an open-door economic policy ushered in a period of high economic growth in the first half of the 1980s. The economy stagnated around the time of the Tiananmen Square Incident in 1989, but in the first half of the 1990s, China was again boasting high growth rates. Rapid economic growth was accompanied by a rise in per capita GDP In 1998, per capita income, though still only about US$770, was 14 times higher than in 1980. Therefore, it seems reasonable to conclude that Deng Xiaoping’s first goal, which was to improve the economic status of the people, has been accomplished.
    The idea of the Third World, which is usually traced to the late 1940s or early 1950s, was increasingly used to try and generate unity and support among an emergent group of nation-states whose governments were reluctant to take sides in the Cold War. These leaders and governments sought to displace the ‘East-West’ conflict with the ‘North-South’ conflict. The rise of Third Worldism in the 1950s and 1960s was closely connected to a range of national liberation projects and specific forms of regionalism in the erstwhile colonies of Asia and Africa, as well as the former mandates and new nation-states of the Middle East, and the ‘older’ nation-states of Latin America. Exponents of Third Worldism in this period linked it to national liberation and various forms of Pan-Asianism, Pan-Arabism, Pan-Africanism and Pan-Americanism. The weakening or demise of the first generation of Third Worldist regimes in the 1960s and 1970s coincided with or was followed by the emergence of a second generation of Third Worldist regimes that articulated a more radical, explicitly socialist, vision. A moderate form of Third Worldism also became significant at the United Nations in the 1970s: it was centred on the call for a New International Economic Order (NIEO). By the 1980s, however, Third Worldism had entered into a period of dramatic decline. With the end of the Cold War, some movements, governments and commentators have sought to reorient and revitalize the idea of a Third World, while others have argued that it has lost its relevance. This introductory article provides a critical overview of the history of Third Worldism, while clarifying both its constraints and its appeal. As a world-historical movement, Third Worldism (in both its first and second generation modalities) emerged out of the activities and ideas of anti-colonial nationalists and their efforts to mesh highly romanticized interpretations of pre-colonial traditions and cultures with the utopianism embodied by Marxism and socialism specifically, and ‘Western’ visions of modernisation and development more generally. Apart from the problems associated with combining these different strands, Third Worldism also went into decline because of the contradictions inherent in the process of decolonization and in the new international politico-economic order, in the context of the changing character, and eventual end, of the global political economy of the Cold War.

    2. Gross National Income (GNI) is the total amount of money earned by a nation’s people and businesses. It is used to measure and track a nation’s wealth from year to year. The number includes the nation’s gross domestic product (GDP) plus the income it receives from overseas sources.
    The more widely known term GDP is an estimate of the total value of all goods and services produced within a nation for a set period, usually a year. GNI is an alternative to gross domestic product (GDP) as a means of measuring and tracking a nation’s wealth and is considered a more accurate indicator for some nations. The U.S. Bureau of Economic Affairs (BEA) tracks the GDP to measure the health of the U.S. economy from year to year. The two numbers are not significantly different. Finally, there’s gross national product (GNP), which is a broad measure of all economic activity.
    The idea of establishing international financial organizations to regulate global economic development came as a response to growing problems in the years between the two world wars of the twentieth century. At first, bankers were the main actors rather than governments who, following a liberal ethos, initially tried to avoid direct intervention in explicitly financial international affairs. Far more aware of the effects of national interest rates, for example, in attracting or repelling capital, bankers advocated some kind of international cooperation. For example, the German reparation payments, made under the Dawes Plan of 1924, were negotiated by the chairmen of the boards of the New York Federal Reserve Bank and the Bank of England. There was an international organization in place – the League of Nations – but it remained primarily a ‘political’ organization. However, it maintained an Economic and Financial Organization, and it sponsored a series of international conferences in various European cities between 1920 and 1933. In these initial moves we can see the beginnings of the idea that international financial organizations should regulate global development.
    In the mid-1920s, the League of Nations helped arrange loans to stabilize the economies of several European countries. An international economic conference, convened by the League at Geneva in 1927, and attended by several nonmember countries, such as the US and the Soviet Union, came up with a series of resolutions dealing with trade, cartels, and other issues that were thought to constitute an international code of behavior in policy matters. Discussion of a Bank for International Settlements (BIS) took place in 1930. And since then, regular meetings have been held in Basel, Switzerland, among central bank governors and experts from other financial agencies. The BIS conducts its own research in financial and monetary economics and collects, compiles, and disseminates economic and financial statistics, supports the IMF and World Bank, performs traditional banking functions for national central banks (e.g., gold and foreign exchange transactions), as well as trustee and agency functions. The main international financial institutions, however, were formed by governments through the 1944 Bretton Woods Agreement. This established permanent international organizations to promote international monetary cooperation and provide the machinery through which countries could consult and collaborate – the IMF, the International Bank for Reconstruction and Development (IBRD) (later World Bank), and an International Trade Organization (ITO) that never got off the ground. The boards of governors and executive boards of these institutions would be controlled by the countries with the largest investments (quotas).
    There was one issue, later to become highly controversial, that divided the Americans and the Europeans. The European view of the lending operations of the IMF was that resources would be provided to member countries more or less on request, as they were needed. In particular, the British delegates to Bretton Woods thought that members should be free to pursue whatever domestic policies they desired, even if these affected exchange rates, a central international concern of the conference. By contrast, the Americans thought that borrowing foreign currency (dollars as it turned out) from the IMF was not an unqualified right. At a pre-conference, the US delegation proposed that language of the proposed Articles of Agreement (Article V) be changed from a “member shall be entitled to buy another member’s currency from the Fund” to a “member may buy the currency of another member from the Fund” (emphasis added). The United Kingdom had the support of virtually all other countries in successfully opposing this change. However, later the US director on the IMF executive board insisted that use of IMF resources should be subject to close scrutiny to assure a country’s adherence to its principles and purposes. Indeed, the US executive director challenged several requests to draw on IMF funds in the late 1940s on these grounds and, as a result, in 1950 the managing director specified that countries would have to lay out the specific steps they would take in overcoming balance of payments difficulties. Britain and France abstained in the subsequent vote on this issue, while other countries agreed to the American notion of ‘conditionality’ only because the US was their main source of credit. This conditionality laid on IMF and World Bank loans has subsequently become the main issue of controversy in global economic governance. Nation states resent having their economic policies scrutinized and controlled by economists at the international governance institutions directly, and by the US Treasury Department indirectly.
    The Bretton Woods Institutions were supposed to govern agreed-upon principles for the conducting of economic affairs decided at the conference.

    3. The countries in which the process of development has started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Here we will discuss the different characteristics of developing countries of the world.
    Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
    Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.

    Low Per Capita Real Income
    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    Mass Poverty
    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    Rapid Population Growth
    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

    The Problem of Unemployment and Underemployment
    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

    Excessive Dependence on Agriculture
    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    Technological Backwardness
    The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

    Dualistic Economy
    Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

    4. Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
    In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men. Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income earning opportunities.
    Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty. A focus on poor women as distinct from men in efforts to reduce poverty is justified because women’s paid and unpaid work is crucial for the survival of poor households.
    Women are economic actors: They produce and process food for the family; they are the primary caretakers of children, the elderly and the sick; and their income and labor are directed toward children’s education, health and well-being. In fact, there is incontrovertible evidence from a number of studies conducted during the 1980s that mothers typically spend their income on food and health care for children, which is in sharp contrast to men, who spend a higher proportion of their income for personal needs. A study conducted in Brazil, for example, found that the positive effect on the probability that a child will survive in urban Brazil is almost 20 times greater when the household income is controlled by a woman rather than by a man (Quisumbing et al., 1995).
    Yet women face significant constraints in maximizing their productivity. They often do not have equal access to productive inputs or to markets for their goods. They own only 15 percent of the land worldwide, work longer hours than men and earn lower wages. They are overrepresented among workers in the informal labor market, in jobs that are seasonal, more precarious and not protected by labor standards.
    Despite this, policies and programs that are based on notions of a typical household as consisting of a male bread-winner and dependent women and children often target men for the provision of productive resources and services. Such an approach widens the gender-based productivity gap, negatively affects women’s economic status, and does little to reduce poverty. Addressing these gender biases and inequalities by intentionally investing in women as economic agents, and doing so within a framework of rights that ensures that women’s access to and control over productive resources is a part of their entitlement as citizens, is an effective and efficient poverty reduction strategy.

  35. Oleh chimamanda orieoma says:

    Name: Oleh chimamanda orieoma
    Reg No:2019/244935
    Department: Eco/phil

    DEVELOPING COUNTRIES ISSUES
    Two nations whose social and economic systems were sharply opposed; China and India. They played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
    The term “Third World” arose during the Cold War to define countries that remained non-aligned with either NATO or the Warsaw Pact. The United States, Canada, Japan, South Korea, Western European nations and their allies represented the “First World”, while the Soviet Union, China, Cuba, North Korea, Vietnam and their allies represented the “Second World”. This terminology provided a way of broadly categorizing the nations of the Earth into three groups based on political divisions. Strictly speaking, “Third World” was a political, rather than an economic, grouping. Since the dissolution of the Soviet Union and the end of the Cold War, the term Third World has decreased in use.

    Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and underdevelopment.
    Founded at the Bretton Woods conference in 1944, the two institutions have complementary missions. The World Bank Group works with developing countries to reduce poverty and increase shared prosperity, while the International Monetary Fund serves to stabilize the international monetary system and acts as a monitor of the world’s currencies. The World Bank Group provides financing, policy advice, and technical assistance to governments, and also focuses on strengthening the private sector in developing countries. The IMF keeps track of the economy globally and in member countries, lends to countries with balance of payments difficulties, and gives practical help to members. Countries must first join the IMF to be eligible to join the World Bank Group; today, each institution has 189 member countries.

    The World Bank:
    The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development.
    Together, IBRD and IDA form the World Bank, which provides financing, policy advice, and technical assistance to governments of developing countries. IDA focuses on the world’s poorest countries, while IBRD assists middle income and creditworthy poorer countries. IFC, MIGA, and ICSID focus on strengthening the private sector in developing countries. Through these institutions, the World Bank Group provides financing, technical assistance, political risk insurance, and settlement of disputes to private enterprises, including financial institutions.

    The International Monetary Fund:
    The IMF works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
    The IMF’s primary purpose is to ensure the stability of the international monetary system, the system of exchange rates and international payments that enables countries and their citizens to transact with each other. It does so by keeping track of the global economy and the economies of member countries, lending to countries with balance of payments difficulties, and giving practical help to members.

    CHARACTERISTICS OF A DEVELOPING NATION
    Low Per Capita Real Income:
    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    Mass Poverty:
    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    Rapid Population Growth:
    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

    The Problem of Unemployment and Underemployment:
    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

    Excessive Dependence on Agriculture:
    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    Technological Backwardness:
    The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

    Dualistic Economy:
    Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

    Lack of Infrastructures:
    Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

    Lower Productivity:
    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

    High Consumption and Low Saving:
    In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

    It has been argued that poverty has the face of a woman. I don’t think that one should put a face to the world’s disease called poverty. Some people may argue about this due to fact that women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
    In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men. Women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.

  36. DIKE JOHN CHUKWUDOZIE says:

    NAME: DIKE JOHN CHUKWUDOZIE
    REG NO: 2018/241837
    DEPARTMENT: ECONOMICS

    (1) The term third world countries was used in the 1955 Afro-Asian conference,held in Bandung, Indonesia. This conference marked the biginning of the political emergence of the third world countries. Two countries( China and India) with different social and economic systems played a major role in actualising this.
    As a result of decolonization,most colonized countries became a sovereign state. European and North American domination,underdevelopment,rapid demographic growth etc. and they were called as the ‘Third World‘.The term ‘ThirdWorld’ referred to the one-third of the superpowers i.e.the United States and the Soviet Union.Third World,not a homogenous group,has different political system and level of economic development.TheThird World countries are also called developing countries because they are facing the economic,social and political problems like poverty,starvation,illiteracy and ethnic conflicts. This countries have opposed imperialism, colonialism, foreign intervention and have supported peaceful co-existence. Since they all have similar challenges and aspirations formed and called themselves a non- alignment countries. Non- alignment here means not belonging to any of the two world powers or Bloc(America and Russia)
    (2)The set of indices developed by UN and other global agencies on how to measure development includes:
    (i) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:
    (a) Life expectancy
    (b) Educational attainment and
    (c) Adjusted real income
    The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of many African countries for example. Countries like USA,France,South Korea etc are examples of countries with high HDI.
    (ii) UN’s Human Poverty Index (HPI): This index measures deprivation using % of people expected to die before age 40, % of of illiterate adults, % of people without access to health services and safe water and the % of underweight children under five.
    Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due yto lack of education etc.
    Norway formally was regarded as country with low HPI,but currently, Switzerland which was formerly second in the ranking is now dominating as the country with the lowest HPI.
    Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered undeveloped.
    According to World Bank, countries with a GNI of 11,905 US dollar and less are developing (specified by the World Bank,2015) and 12,275 US dollar (World Bank,2019)

    (3) The following are the common charecteristics of Developing Nation:
    (i) Low level of living: in almost all the developing countries, the populace of the country is faced with low level of living, as they are poor and unable to adequately provide there basic necessities of life.
    (ii) Low Level of Productivity: One common feature that most developed countries posses, that developing countries does not posses is Economic growth which is measured based on a countries productive ability. In developing countries,resources are under utilized and this gives rise to low level of productivity. Even though developing countries Economy is Agrarian, the output from agricultural activities is still low due to employing local methods of agriculture.
    (iii) High rate of Population growth and dependency burdens: Developing countries are mostly characterised by an incessant increase in their population. Not just that,the rate of the dependent population also rises due to increase in population without a corresponding increase in employment, production level etc.
    (iv) High and rising level of Unemployment and Under employment: Due to low level of productivity, there is inadequate employment for the working population,hence this gives rise to high and rising level of Unemployment. The unavailability of jobs also renders most skilled labours in the country to venture into any job that comes there way,even though the job underscores his potential,in the bid to survive.
    (v) Traditional,Rural social Structures: Developing nations are also characterised by Traditional,Rural Social Structures. Rural institutions and traditional settings are common found in the society.
    (vi) Widespread of poverty: Poverty as a term is the inability of people to provide there daily necessity of food,shelter and clothing. The majority of people any developing countries are poor,just few are rich which gives rise to inequality.
    (vii) Prevalence of Imperfect market: Due to low level of production,there are little or no producers of goods and services needed by the consumers in the developing countries. The little producers available hence increase the price outrageously in order to make excessive profit at the expense of the consumer. The producers are able to do this because there is no adequate competition in the market for the goods they are producing. This is a clear example of an imperfect market.
    (viii) Substantial dependence on agricultural products and primary products export: Like earlier explained, developing nations are Agrarian in nature. They produce agricultural produce(primary products) such as cocoa, Kolanut, timber,cotton, palm kernel etc and export to foreign countries. The export of agricultural products for example amounted greatly in the GDP of Nigeria prior to the discovery and exploration of crude oil.
    (ix) Dependence and Vulnerability: The societies of developing countries are faced with exposure to insecurity which limits the freedom of man. This is common in developing countries.
    (x) Distorted Economics devoted to producing primary products for the developed world and to provide Market for their finished goods: Developing countries mostly produce primary products which they export to developed world as raw materials for there companies. The developed countries also exports the finished goods produced back to the developing countries for consumption. By so doing,the developing countries provides market for the developed countries finished goods.
    (4) I agree with the argument ‘ Poverty has the face of a woman’. My reasons for agreeing to the argument are:
    Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
    Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
    , the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
    The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
    Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.

    • EKE EJIEKE KALU says:

      NAME: EKE EJIEKE KALU
      REG NO:2019/244150
      DEPARTMENT: ECONOMICS

      The term third world countries was used in the 1955 Afro-Asian conference,held in Bandung, Indonesia. This conference marked the biginning of the political emergence of the third world countries. Two countries( China and India) with different social and economic systems played a major role in actualising this.
      As a result of decolonization,most colonized countries became a sovereign state. These countries had the same historical background through European and North American domination,underdevelopment,rapid demographic growth etc. and they were called as the ‘Third World‘.The term ‘Third World’ referred to the one-third of the superpowers i.e.the United States and the Soviet Union.Third World,not a homogenous or similar group,has different political system and level of economic development. The Third World countries are also called developing countries because they are facing the economic,social and political problems like poverty,starvation,illiteracy and ethnic conflicts. This countries have opposed imperialism, colonialism, foreign intervention and have supported peaceful coexistence. Since they all have similar challenges and aspirations formed and called themselves a non- alignment countries. Non- alignment here means not belonging to any of the two world powers or Bloc(America and Russia)
      (2)The set of indices developed by UN and other global agencies on how to measure development includes:
      (i) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:
      (a) Life expectancy
      (b) Educational attainment and
      (c) Adjusted real income
      The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of many African countries for example. Countries like USA,France,South Korea etc are examples of countries with high HDI.
      (ii) UN’s Human Poverty Index (HPI): This index measures deprivation using % of people expected to die before age 40, % of of illiterate adults, % of people without access to health services and safe water and the % of underweight children under five.
      Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due to lack of education etc.
      Norway formally was regarded as country with low HPI,but currently, Switzerland which was formerly second in the ranking is now dominating as the country with the lowest HPI.
      Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered under developed.
      According to World Bank, countries with a GNI of 11,905 US dollar and less are developing (specified by the World Bank,2015) and 12,275 US dollar (World Bank,2019)

      (3) The following are the common characteristics of Developing Nation:
      (i) Low level of living: in almost all the developing countries, the majority of the population of the country is faced with low level of living, as they are poor and unable to adequately provide there basic necessities of life.
      (ii) Low Level of Productivity: One common feature that most developed countries posses, that developing countries does not posses is Economic growth which is measured based on a countries productive ability. In developing countries,resources are under utilized and this gives rise to low level of productivity.
      (iii) High rate of Population growth and dependency burdens: Developing countries are mostly characterised by a continuous increase in their population. Not just that,the rate of the dependent population also rises due to increase in population without a corresponding increase in employment, production level etc.
      (iv) High and rising level of Unemployment and Under employment: Due to low level of productivity, there is inadequate employment for the working population,hence this gives rise to high and rising level of Unemployment. The unavailability of jobs also renders most skilled labours in the country useless,hence leaving them with no choice but to venture into any job that comes there way,even though the job underscores his potential,in the bid to survive.
      (v) Traditional,Rural social Structures: Developing nations are also characterised by Traditional,Rural Social Structures. Rural institutions and traditional settings are commonly found in the developing countries society.
      (vi) Widespread of poverty: Poverty as a term is the inability of people to provide there daily necessity of food,shelter and clothing. The majority of people in any developing countries are poor,just few are rich which gives rise to inequality.
      (vii) Prevalence of Imperfect market: Due to low level of production,there are little or no producers of goods and services needed by the consumers in the developing countries. The little producers available hence increase the price of their goods outrageously in order to make excessive profit at the expense of the consumer. This is a clear example of an imperfect market.
      (viii) Substantial dependence on agricultural products and primary products export:
      Developing nations are Agrarian in nature. They produce agricultural produce(primary products) such as cocoa, Kolanut, timber,cotton, palm kernel etc and export to foreign countries. The export of agricultural products for example amounted greatly in the GDP of Nigeria prior to the discovery and exploration of crude oil in Nigeria
      (ix) Dependence and Vulnerability: The societies of developing countries are faced with exposure to insecurity which limits the freedom of man. This is common in developing countries.
      (x) Distorted Economics devoted to producing primary products for the developed world and to provide Market for their finished goods: Developing countries mostly produce primary products which they export to developed world as raw materials for there companies. The developed countries also exports the finished goods produced back to the developing countries for consumption. By so doing,the developing countries provides market for the developed countries finished goods.
      (4) I agree with the argument ‘ Poverty has the face of a woman’. My reasons for agreeing to the argument are:
      Women face the triple burden of child bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
      Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender based violence is a daily reality for many.
      , the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they are not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
      The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
      Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.

  37. September 1999, No.45
    Select the year published
    1999
    View
    MThe “Three Reforms” in China: Progress and Outlook
    Sakura Institute of Research, Inc.
    Shigeo Kobayashi, Jia Baobo and Junya Sano
    Introduction

    1. The Chinese Economy since the Start of the Reform and Open-door Policy

    The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.

    The obvious aim of this policy shift was to rebuild its economy and society that were devastated by the Cultural Revolution. The policy shift also appears to have been prompted by recognition that the incomes of ordinary Chinese were so low, in comparison with incomes in other Asian economies, that the future of the Chinese state and the communist regime would be in jeopardy unless something was done to raise living standards of its people through economic growth.

    The government subsequently established a number of areas for foreign investment, including the special economic zones, open coastal cities, the economic and technology development zones, the delta open zones, the peninsula open zones, the open border citiees, and the high-tech industry development zones. The establishment of these zones provided the trigger for massive inflows of foreign investment, primarily from companies in Hong Kong and Taiwan. At the same time, China promoted its socialist market economy concept. The changes brought an entrepreneurial boom that resulted in the emergence of huge numbers of entrepreneurs and venture businesses within China.

    Inflows of foreign capital, technology, and management knowhow enabled China to turn its vast labor resources and space to rapid economic growth. The shift to an open-door economic policy ushered in a period of high economic growth in the first half of the 1980s. The economy stagnated around the time of the Tiananmen Square Incident in 1989, but in the first half of the 1990s, China was again boasting high growth rates. Rapid economic growth was accompanied by a rise in per capita GDP (Fig. 1). In 1998, per capita income, though still only about US$770, was 14 times higher than in 1980. Therefore, it seems reasonable to conclude that Deng Xiaoping’s first goal, which was to improve the economic status of the people, has been accomplished.

    2. Emerging Conficts

    The positive consequences of the reform and open-door policy have been economic development and rising national incomes. Naturally, there have also been negative effects, and these have become increasingly obvious over the years. The problems outlined below are closely linked to the living standards of people in China.

    First, there is now regional disparities in income levels, and the gap between rich and poor is now extremely wide. Under the socialist controlled economy, living standards were relatively low, but there was no big gap between rich and poor. The idea, taken from the writings of Mencius, that inequality is more lamentable than poverty, has applied throughout society. With the shift to the open-door policy, however, Deng Xiaoping indicated that it was acceptable for some regions to become wealthy before others. The result was a huge wealth disparity between coastal and inland regions, and between the cities and rural areas. Fig. 2 shows the per capita annual incomes of urban households in municipalities and provinces where incomes are relatively high, and those of peasant households in relatively poor provinces. Incomes in Guangdong Province are about eight times higher than incomes in Gansu Province.

    (2)The IMF and the World Bank have
    responsibility respectively for exchange rate and currency stability,
    and reconstruction and development. The post-war agenda of exchange rate stability and reconstruction
    has been broadened to assist members with their efforts to achieve monetary and financial stability,
    create sustainable economic growth to reduce poverty, and enhance development; focusing on their
    capacity to improve the domestic infrastructure that is necessary in most cases to deal with the prescribed
    assistance the institutions provide.
    The responsibilities of the two are distinguishable by the period over which they assist their members.
    The IMF’s assistance has tended to be on a short-term basis, focusing on macro-economic matters;
    whereas the World Bank has concentrated on long-term development projects that focus on the micro-
    economic side. In the pursuit of these interdependent goals a considerable level of cooperation between
    the two institutions has evolved, notwithstanding an inevitable degree of tension on occasion when their
    policies seem to conflict with one another; this occurred especially during the 1990s and the financial
    crises experienced by a number of countries.
    This has resulted in more formal coordination over the years to deal with such matters, although both still
    concentrate on their ‘core asks’. Gilbert et al propose the core foci as ‘the Fund on macro-economic and
    crisis resolution and macro-policy advice; and the Bank on longer-term development—including micro-
    economics and trade and industry issues—and poverty reduction’. This move from the traditional remits of
    responsibility is evidence of a growing influence of the two in the arena of a country’s domestic policy; this
    is achieved through the conditions attached to their financial and technical assistance when domestic
    policies and legal and regulatory infrastructure are not sufficient to prevent or manage a crisis.
    The evolving role of the IMF and World Bank
    The responsibilities and functions of the IMF centre on its key purpose: to deal with ‘international
    monetary problems’ by acting as the forum for its members to ‘consult’ and ‘collaborate’ with it so as to
    ‘facilitate’ and ‘promote’ ‘international monetary co-operation’, ‘growth of international trade’ and
    ‘exchange rate stability’ to achieve financial and economic stability. The IMF seeks to achieve these broad
    purposes through its core functions: surveillance, financial assistance and technical assistance to ensure
    its members continuously adhere to its underlying purposes.
    The traditional objective of surveillance is ensuring orderly exchange arrangements’ among members.
    The IMF, in ‘consultation’ with its members by both bilateral and multilateral means, assesses individual
    members’ economic and monetary policies against its purposes to ascertain whether they pose a risk to
    the stability of the international monetary system. It seeks to provide financial assistance to members
    experiencing balance of payment problems, on the basis that the individual member complies with the
    conditions set for such assistance so the IMF can be assured the money will be repaid.
    This invariably requires the member country to adjust its economic and monetary policies, giving rise to a
    considerable level of coercive and unfettered leverage by the IMF to ensure changes are indeed made.
    The final function of the IMF is to provide technical assistance to its members, but without the same
    degree of compulsion as is attached to the other activities. Conditionality which generally refers to the
    designated policy and procedures attached to the assistance the IMF provides ensures to a certain extent
    the objectives of the assistance is achieved. It has, in many respects, generated a considerable level of
    controversy in light of the expansion of its policy remit to include matters at a micro level such as
    infrastructural reform. As Lastra notes the rationale for this expansion was the fact that the crisis stricken
    countries discussed above exposed considerable problems in this area thus exacerbating the financial.
    3) The common Characteristics of Developing countries.
    1,The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan. According to these estimates for the year 1995, per capita income was $340 in India, $ 620 in China, $240 in Bangladesh, $ 700 in Sri Lanka. As against these, for the year 1995 per capita income was $ 26,980 in USA, $ 23,750 in Sweden, $ 39,640 in Japan and 40,630 in Switzerland.

    2) Characteristic # 2. Excessive Dependence on Agriculture:
    A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.

    In the present-day developed countries, the modern industrial
    3) Characteristic # 3. Low Level of Capital Formation:
    The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.

    Since then there has been substantial increase in the rate of saving and investment in the developing.

    4. The statemenrt,Poverty has the face of a Woman,is wrong it’s not true.thoe there are some reasons why people say or believe that “Poverty has the face of a Woman”.
    reasons like gender inequality,Women being a house wife,women taking burdens the to an extent women are not permitted to go to school.
    Poverty could be caused by other factors but not oviouslying by Women.
    and I strongly disagree with the statement, that poverty has the face of a woman.
    thank you Mr President..

  38. Nwankwo+Faith+Obiageli.....2019/244721 says:

    Nwankwo Faith Obiageli
    2029/244721
    Economics
    ANSWERS
    1. The First World has been anticipating with a great enthusiasm to see geopolitical tensions between China and India. On the one hand, the United States has been wittingly trying to control the Indian Ocean. On the other, the diplomatic and trade ties between China and India are lopsided. Boycotting Chinese goods by India certainly enlarged the tensions not only between these Asian powers but also among the Third World states and most importantly in South Asia region. The People’s Republic of China, which is being considered as superpower of Asia must stop diplomatic rivalry with its neighbor and decades long diplomatic partner, India. The Republic of India, which is also being considered as one of the largest economies outside the west, has to stop its rivalry with China to safeguard non- western economic interests. As world observing, there has been frontier dispute going on between these two non- western largest political and economic powers for a last couple of years. According to customary International law, as far as any territorial dispute is concerned, every state has the right to protect its national borders without any external legal oppression. In this regard, as far as China is concerned, it has its primary responsibility to protect its national borders. On the other, India has also unequivocal responsibility to protect its national borders under the Law of Nations. Since the end of the Second World War, these two former British colonies have strived tremendously for becoming economically self- dependent nations. But in those attempts, China has accelerated its industrialization in the period of Den Xiaoping and turned as a manufacturing hub of the world, while India has only become as largest importer of goods, however it got reached to the peak stage of International economic order that could slightly influence International legal order. The main contention of this piece lies in examining why India and China should stand together as a common force. Let me now turn towards the main argument of this writing. The leader of the Third World China has to strive to become success in three essential goals with the collaboration of India. The first essential goal is to mobilize non- western nations to fight for decolonization of west made International law. The second essential goal is to fight for new global economic order, which can make Third World rich. And the third one that what China must do is to promote industrial growth in Third World nations.As I have mentioned above, economic needs of a country decide the way of a country where to go in International arena. To say in simple terms, economics dictates politics while politics dictates law. So, to achieve new International legal order, should develop economic capability of the Third World. As I have said before, the leader of the Third World China and one of the largest economies of the world India both must put an end to frontier disputes and initiate a campaign for three essential goals that I have already mentioned. The first and primary essential goal is to mobilize non- western nations to fight for decolonization of west made International law. China and India both alone would never achieve this great achievement. All non- western nations are required to be mobilized to work for decolonization through reformation of the Security Council. The second primary agenda is to fight for new Global Economic Order, which protects the natural rights of states like sovereignty over all their natural resources. The final and concluding agenda is to encourage industrial growth in Third World states, which would decrease the dependency of states with each other.

    2. The most common metric used to determine if an economy is developed or developing is per capita gross domestic product (GDP), although no strict level exists for an economy to be considered either developing or developed.
    -For countries that are difficult to categorize, economists turn to other factors to determine development status. Standard of living measures, such as the infant mortality rate and life expectancy, are useful although there are no set boundaries for these measures either. However, most developed economies suffer fewer than 10 infant deaths per 1,000 live births, and their citizens live to be 75 or older on average.
    -The Human Development Index :The UN’s Human Development Index (HDI) looks at three standards of living criteria—literacy rates, access to education, and access to health care—and quantifies this data into a standardized figure between zero and one. Most developed countries have HDI figures above 0.8.
    – The Human Poverty index(HPI) : it measures deprivations using percentage f people expected to die before age 40, percentage of underweight children under age 5, percentage of people without access to health services and safe water.
    .3. Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio- political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
    – Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
    – Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio- economic participation and access apart from low per capita income.
    – Rapid Population Growth :Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children.

    4. It’s true that poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibility to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and fierce figure who you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elderly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equally footing. There is more women population in the world than man so when doing research is easier to sample women . As much as it’s known that a man is a provider , a woman has to be the one that provides for the kids in the interim while the man goes to “hunt”.The burden needs to fall on both men and women and until then poverty will always have a woman’s face.

  39. Nwadike Ruth Chidimma, 2019/246677, ( Edu/Economics) says:

    1)China and India, as two of the largest developing countries in the world, have played a significant role in promoting the political emergence of other developing nations, also known as the “Third World.” Their differing social and economic systems, with China being a communist country and India being a democratic country with a mixed economy, have influenced the way they have interacted with and impacted other developing nations.
    China, as a communist country, has provided economic and military aid to other developing nations, often with the goal of spreading its ideology and building alliances. It has also been involved in infrastructure projects and economic development in many African and Latin American countries.
    India, on the other hand, has focused more on providing technical assistance and promoting economic cooperation with other developing nations. It has also played a major role in the Non-Aligned Movement, which sought to promote the political and economic independence of developing nations.
    Both China and India have also been involved in efforts to change the relationship between developing nations and industrial nations. They have been vocal in calling for a more equitable distribution of power and resources in the global system and have worked to build alternative institutions and forums for developing nations to come together and assert their interests.
    In summary, China and India have played important roles in promoting the political emergence of other developing nations, and in changing the relationship between these nations and the more industrialized countries through their different ideologies and approach to diplomacy and economic development.
    2) Traditionally, developing countries have been defined according to their Gross National Income (GNI) per capita per year. However, as the understanding of development and underdevelopment has evolved, other criteria and indicators have been developed by the United Nations, the World Bank, and other Bretton Woods institutions.
    The United Nations Development Programme (UNDP) has developed the Human Development Index (HDI), which measures a country’s development based on three dimensions: health, education, and standard of living. The HDI takes into account not only a country’s economic performance, but also the well-being of its citizens.
    The World Bank has developed the Multidimensional Poverty Index (MPI), which measures poverty based on multiple dimensions, including health, education, living standards, and access to basic services.
    The World Economic Forum (WEF) uses the Global Competitiveness Index (GCI) which is a comprehensive measure of a country’s economic performance and ability to attract and retain business.
    Additionally, the International Monetary Fund (IMF) uses the Balance of Payment (BOP) as a way to measure a country’s economic performance.
    In conclusion, the GNI per capita is still widely used as a criterion for determining a country’s level of development, but other criteria and indicators have been developed in order to take into account other dimensions of development and well-being, such as health, education, standard of living and economic performance. These other criteria and indicators provide a more nuanced and comprehensive understanding of a country’s development status.
    3)Developing nations, also known as less developed countries (LDCs), share a number of common characteristics. Some of the most notable include:
    (i)Low per capita income: Developing nations tend to have lower average incomes compared to developed nations. This can result in high levels of poverty and a lack of access to basic necessities such as food, shelter, and healthcare.
    (ii)High population growth: Developing nations often have high population growth rates, which can strain resources and make it difficult to improve living standards.
    (iii)Dependence on agriculture: Many developing nations rely heavily on agriculture as a primary source of income and employment. This can lead to issues such as land degradation and overuse of resources.
    (iv)Limited industrialization: Developing nations tend to have less developed industrial sectors compared to developed nations. This can make it difficult for these countries to diversify their economies and create well-paying jobs.
    (v)Low levels of education: Developing nations often have lower levels of education compared to developed nations. This can make it difficult for individuals to access good jobs and make it difficult for the country to develop a skilled workforce.
    (vi)Poor infrastructure: Developing nations often have poor infrastructure, such as inadequate transportation systems and limited access to clean water and sanitation.
    (vii)High levels of inequality: Developing nations tend to have higher levels of income and wealth inequality compared to developed nations.
    (viii)Political instability: Developing nations often struggle with political instability, which can make it difficult for the government to implement policies that promote economic growth and improve living standards.
    (4)Yes
    The reasons are as follows:
    Women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.
    Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
    In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty.
    Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income-earning opportunities.
    Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty.

  40. Innocent Love Ihunanya. 2019/251037 . Department of Economics says:

    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. The Bandung conference in 1955 was the beginning of the political emergency of the third world.
    Forty years later, under communist structure, China has surged to being one of the largest economies in the world, second only to the United States. The gap between the U.S. and China is still substantial, with China’s gross domestic product at only 70 percent of the United States.The fact is that the status of China, by any measure, has bred a wealth equal to the best in the world, and a poverty equal to the worst. Since China began to open up and reform its economy in 1978, GDP growth has averaged over 9 percent a year, and there have been significant improvements in access to health, education, and other services over the same period.( From the report of world Bank in China)China is now an upper and middle income country.
    The economy of India has transitioned from a mixed planned economy to a mixed middle income developing social market economy with the state participating in strategic sectors.It is the world’s fifth largest economy by nominal GDP and the third largest by purchasing power parity (PPP). According to the International Monetary Fund (IMF), on a per capita income basis, India ranked 142nd by GDP (nominal) and 125th by GDP (PPP). From being colonized by the British, India now rule the United Kingdom as the new British prime minister, Rishi Sunak, is the first British prime minister of Asian origin. Sunak is the son of Indian immigrants who came to the UK from pre-colonial Kenya and Tanzania. ( News from Africnews.com)
    2. Other criteria and indicators for measuring development and underdevelopment by world Bank other institutions.
    i. The level of Agricultural and rural development.
    ii. Education
    iii. Economic policy and External Debt
    iv. Infrastructure
    v. Human development
    3. Characteristics of developing countries.
    i.Vulnerability to both external and internal attack. Developing countries are vulnerable to attacks either physically or emotionally. They usually lack security expertise in tackling the insecurities.
    ii. Highly dependent: They depend so much on importation of goods and export primary products as they are not well industrialised.
    iii. Low levels of living. Their standard of living is very poor compare to the developed countries. Most of them live below the minimum wage of their country with nothing to show off.
    iv. Low levels of productivity. They don’t produce in large scale as they still practice subsistence production. Most citizens are farmers and they only farm on a small piece of land while they consume much out of the little they cultivated, they sell the little remaining to get other things essential for living and as such the rate of productivity is low.
    V. High and rising levels of unemployment and underemployment. In developing countries like Nigeria for example, the citizens who have academic qualifications tends to be underemployed. They work in sectors which is not their areas of specialization while most of them are not employed as they are waiting for the government of their country to provide job for them as they can not create or have no capital to create jobs.
    4. Poverty has a face of a woman. Women in the society are usually not trained or educated to contribute to the economy of the country. They are usually seen as those whose place are in the kitchen of her husband and taking care of the children. They are not seen as those capable of contributing to the growth of the economy and as such they live in poverty when the bread winner of the home dies. They contribute to the 80% of environmental pollution and are most vulnerable to it as they lack the basic information of preventing such.

  41. Asogwa Ijeoma Agatha says:

    Name: Asogwa Ijeoma Agatha
    Reg no: 2019/251105
    Department: Economics

    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.

    Answer
    China and India have played a significant role in promoting the political emergence of Third World countries through their participation in various international organizations and movements. China has been a leader in the Non-Aligned Movement, which promotes the political and economic independence of Third World countries. India has also been active in the Non-Aligned Movement, and has also played a key role in the formation of the Group of 77, a coalition of developing countries that works to promote their collective economic interests. Both countries have also provided economic and military assistance to Third World countries or global north and have used their own experiences of development to serve as models for other nations.
    Both countries have also played a significant role in altering the relationship between countries of the global south and their counterparts in the global north, as well as between communist and capitalist blocs.
    China’s emergence as a major economic power and its strong emphasis on self-reliance and economic development have encouraged other Third World countries to pursue similar paths. China’s success in lifting hundreds of millions of people out of poverty and its ability to maintain high economic growth rates despite being a communist country have challenged the idea that capitalism is the only path to prosperity.
    India’s own democratic and capitalist system provided an alternative model to the Soviet-style socialism that was promoted by many Third World countries.
    Both countries have also changed the relationship between Third World countries and industrial countries by challenging the idea that developed countries should dictate the economic and political policies of developing countries. They have advocated for greater representation and decision-making power for Third World countries in international organizations and have called for more equitable economic relationships between developed and developing nations.
    Overall, China and India have played a significant role in challenging traditional power dynamics and promoting greater autonomy and representation for Third World countries in international affairs.

    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and Indicators for measuring development and under development.

    Answer
    The United Nations uses several criteria and indicators to measure development and underdevelopment. These include:
    Gross Domestic Product (GDP): GDP is the most widely used indicator of economic development. It measures the value of all goods and services produced within a country in a given period of time.
    Human Development Index (HDI): HDI measures a country’s overall development by taking into account three key components: life expectancy, education, and per capita income.
    Gender Development Index (GDI): GDI measures gender-based inequalities in the same three key components of HDI: life expectancy, education, and per capita income.
    Multidimensional Poverty Index (MPI): MPI is a measure of poverty that takes into account multiple dimensions of poverty, including health, education, and living standards.
    Gini coefficient: The Gini coefficient measures income inequality within a country. A Gini coefficient of 0 indicates perfect equality, while a coefficient of 1 indicates perfect inequality.
    Education Index: Education Index is an indicator of the level of education in a country, based on the adult literacy rate and the combined primary, secondary and tertiary gross enrollment ratio.
    Life expectancy at birth: Life expectancy at birth measures the average number of years a person can expect to live in a given country.
    Employment rate: Employment rate measures the percentage of the population that is employed.
    Poverty rate: Poverty rate measures the percentage of the population living below the poverty line.

    The World Bank uses several criteria and indicators to measure development and underdevelopment. These include:
    Gross National Income (GNI) per capita: GNI per capita is a measure of a country’s economic development, calculated by dividing the country’s total GNI by its population.
    Poverty rate: Poverty rate measures the percentage of the population living below the poverty line.
    Access to basic services: The World Bank measures access to basic services, such as education, healthcare, and clean water, as an indicator of development.
    Gender Development Index (GDI): GDI measures gender-based inequalities in the same three key components of HDI: life expectancy, education, and per capita income.
    Human Capital Index (HCI): HCI measures the productivity of a country’s population by taking into account factors such as education, health, and labor force participation.
    Ease of Doing Business Index (EODB): EODB measures the ease of doing business in a country by taking into account factors such as the time and cost of starting a business, access to credit, and the ease of paying taxes.
    Investment Climate Assessment (ICA): ICA measures the investment climate of a country by assessing the ease of doing business, the quality of infrastructure, and the effectiveness of governance.
    Logistics Performance Index (LPI): LPI measures the efficiency of a country’s logistics network by taking into account factors such as customs clearance times, the quality of transport infrastructure, and the reliability of logistics services.
    Business Environment and Enterprise Performance Survey (BEEPS): BEEPS is a survey that measures the business environment and enterprise performance in a country by assessing the perceptions of firms on various business environment variables such as access to finance, corruption, and labor regulations.

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
    Answer
    Developing countries often have lower levels of economic development and infrastructure, lower per capita income, and higher poverty rates compared to developed countries. They also tend to have less developed industrial bases, less access to technology, and less educated populations. Additionally, many developing countries have higher rates of disease and lower life expectancies. Political instability and corruption may also be more prevalent in developing countries.
    Developing countries, also known as less developed countries or emerging economies, typically have lower levels of economic development and standard of living compared to developed countries. Some common characteristics of developing countries include:
    High poverty rates: this is caused by high rate of unemployment, all the factors of production are idle and production is low causing a manufacturer to produce less there by rendering some production factors idle.
    Dependence on agriculture and natural resources: developing nations relies on subsistence agriculture production, whereby they produce for their personal consumption and any left over from their produce is been sold to the members of their village or neighboring villages.
    Limited access to education, healthcare, and basic infrastructure: most developing countries live in rural areas where there is limited access to basic amenities and the structures available in such areas are depleted.
    High population growth and urbanization: developing countries are experiencing increasing population growth without an increasing in production in rural areas making people to live the rural areas in search of green pastures.
    Limited industrialization and technological development
    Political and economic instability: developing countries are facing on stable governance and economic instability, because they population is growing at a geometric rate while the food supply is growing at an arithmetic rate, and with this many people are not working prices of goods are constantly rising leading to inflation or sometimes the countries experience recession.
    High external debt: the government of developing nations tends to borrow too much from international organization or from developed countries by so doing the external debts increases.
    Greater vulnerability to natural disasters and climate change: developing nations are at greater risks of experiencing natural disasters because we lack technologies and technical know how on how to manage our environment. Using oil mining in Nigeria as a case study, areas around bayelsa were oil is gotten from are at great risks of experiencing disasters and are currently facing some environment hazard.
    Low per capital income

    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?

    Answer
    I agree to the above statement that says “poverty has the face of a woman. Over the years poverty disproportionately affects women and girl child in many ways, due to some cultural biases on the female child, Educational level and societal opinion about what a female should and should not do. To back my claims here are some examples of how poverty has the face of a woman:
    Lack of education: Women and girls in poverty-stricken areas often lack access to education and are more likely to be illiterate. This limits their economic opportunities and perpetuates the cycle of poverty.
    Income inequality: Women are often paid less than men for the same work, and they are more likely to be in low-paying, informal jobs with little job security or social protections.
    Health disparities: Women living in poverty are at a greater risk of poor health due to lack of access to healthcare, nutritious food, and adequate sanitation.
    Increased burden of care: Women in poverty are often responsible for caring for children and other dependents, which can make it harder for them to find and keep jobs, and limits their ability to earn income.
    Greater vulnerability to violence: Women living in poverty are more likely to experience gender-based violence and have less access to legal and social support services.
    Limited participation in decision-making: Women living in poverty are often marginalized in their communities and lack the power to make decisions about their own lives and the lives of their families.
    Cultural biases: in some societies women are treated as lower class people, they are not allowed to attain a level of education, they are viewd as baby making machines for the men, they are not involved in decision making process or even allowed to carry out any innovative activities, by so doing some talents possessed by the female child is killed and this automatically creates a population of dependent women.
    All these factors contribute to the fact that women are more likely to live in poverty, and poverty disproportionately affects women and girls.

  42. Asogwa Ijeoma Agatha 2019/ 251105 says:

    Name: Asogwa Ijeoma Agatha
    Reg no: 2019/251105
    Department: Economics

    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.

    Answer
    China and India have played a significant role in promoting the political emergence of Third World countries through their participation in various international organizations and movements. China has been a leader in the Non-Aligned Movement, which promotes the political and economic independence of Third World countries. India has also been active in the Non-Aligned Movement, and has also played a key role in the formation of the Group of 77, a coalition of developing countries that works to promote their collective economic interests. Both countries have also provided economic and military assistance to Third World countries or global north and have used their own experiences of development to serve as models for other nations.
    Both countries have also played a significant role in altering the relationship between countries of the global south and their counterparts in the global north, as well as between communist and capitalist blocs.
    China’s emergence as a major economic power and its strong emphasis on self-reliance and economic development have encouraged other Third World countries to pursue similar paths. China’s success in lifting hundreds of millions of people out of poverty and its ability to maintain high economic growth rates despite being a communist country have challenged the idea that capitalism is the only path to prosperity.
    India’s own democratic and capitalist system provided an alternative model to the Soviet-style socialism that was promoted by many Third World countries.
    Both countries have also changed the relationship between Third World countries and industrial countries by challenging the idea that developed countries should dictate the economic and political policies of developing countries. They have advocated for greater representation and decision-making power for Third World countries in international organizations and have called for more equitable economic relationships between developed and developing nations.
    Overall, China and India have played a significant role in challenging traditional power dynamics and promoting greater autonomy and representation for Third World countries in international affairs.

    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and Indicators for measuring development and under development.

    Answer
    The United Nations uses several criteria and indicators to measure development and underdevelopment. These include:
    Gross Domestic Product (GDP): GDP is the most widely used indicator of economic development. It measures the value of all goods and services produced within a country in a given period of time.
    Human Development Index (HDI): HDI measures a country’s overall development by taking into account three key components: life expectancy, education, and per capita income.
    Gender Development Index (GDI): GDI measures gender-based inequalities in the same three key components of HDI: life expectancy, education, and per capita income.
    Multidimensional Poverty Index (MPI): MPI is a measure of poverty that takes into account multiple dimensions of poverty, including health, education, and living standards.
    Gini coefficient: The Gini coefficient measures income inequality within a country. A Gini coefficient of 0 indicates perfect equality, while a coefficient of 1 indicates perfect inequality.
    Education Index: Education Index is an indicator of the level of education in a country, based on the adult literacy rate and the combined primary, secondary and tertiary gross enrollment ratio.
    Life expectancy at birth: Life expectancy at birth measures the average number of years a person can expect to live in a given country.
    Employment rate: Employment rate measures the percentage of the population that is employed.
    Poverty rate: Poverty rate measures the percentage of the population living below the poverty line.

    The World Bank uses several criteria and indicators to measure development and underdevelopment. These include:
    Gross National Income (GNI) per capita: GNI per capita is a measure of a country’s economic development, calculated by dividing the country’s total GNI by its population.
    Poverty rate: Poverty rate measures the percentage of the population living below the poverty line.
    Access to basic services: The World Bank measures access to basic services, such as education, healthcare, and clean water, as an indicator of development.
    Gender Development Index (GDI): GDI measures gender-based inequalities in the same three key components of HDI: life expectancy, education, and per capita income.
    Human Capital Index (HCI): HCI measures the productivity of a country’s population by taking into account factors such as education, health, and labor force participation.
    Ease of Doing Business Index (EODB): EODB measures the ease of doing business in a country by taking into account factors such as the time and cost of starting a business, access to credit, and the ease of paying taxes.
    Investment Climate Assessment (ICA): ICA measures the investment climate of a country by assessing the ease of doing business, the quality of infrastructure, and the effectiveness of governance.
    Logistics Performance Index (LPI): LPI measures the efficiency of a country’s logistics network by taking into account factors such as customs clearance times, the quality of transport infrastructure, and the reliability of logistics services.
    Business Environment and Enterprise Performance Survey (BEEPS): BEEPS is a survey that measures the business environment and enterprise performance in a country by assessing the perceptions of firms on various business environment variables such as access to finance, corruption, and labor regulations.

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.

    Answer
    Developing countries often have lower levels of economic development and infrastructure, lower per capita income, and higher poverty rates compared to developed countries. They also tend to have less developed industrial bases, less access to technology, and less educated populations. Additionally, many developing countries have higher rates of disease and lower life expectancies. Political instability and corruption may also be more prevalent in developing countries.

    Developing countries, also known as less developed countries or emerging economies, typically have lower levels of economic development and standard of living compared to developed countries. Some common characteristics of developing countries include:
    High poverty rates: this is caused by high rate of unemployment, all the factors of production are idle and production is low causing a manufacturer to produce less there by rendering some production factors idle.
    Dependence on agriculture and natural resources: developing nations relies on subsistence agriculture production, whereby they produce for their personal consumption and any left over from their produce is been sold to the members of their village or neighboring villages.
    Limited access to education, healthcare, and basic infrastructure: most developing countries live in rural areas where there is limited access to basic amenities and the structures available in such areas are depleted.
    High population growth and urbanization: developing countries are experiencing increasing population growth without an increasing in production in rural areas making people to live the rural areas in search of green pastures.
    Limited industrialization and technological development
    Political and economic instability: developing countries are facing on stable governance and economic instability, because they population is growing at a geometric rate while the food supply is growing at an arithmetic rate, and with this many people are not working prices of goods are constantly rising leading to inflation or sometimes the countries experience recession.
    High external debt: the government of developing nations tends to borrow too much from international organization or from developed countries by so doing the external debts increases.
    Greater vulnerability to natural disasters and climate change: developing nations are at greater risks of experiencing natural disasters because we lack technologies and technical know how on how to manage our environment. Using oil mining in Nigeria as a case study, areas around bayelsa were oil is gotten from are at great risks of experiencing disasters and are currently facing some environment hazard.
    Low per capital income

    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
    Answer
    I agree to the above statement that says “poverty has the face of a woman. Over the years poverty disproportionately affects women and girl child in many ways, due to some cultural biases on the female child, Educational level and societal opinion about what a female should and should not do. To back my claims here are some examples of how poverty has the face of a woman:
    Lack of education: Women and girls in poverty-stricken areas often lack access to education and are more likely to be illiterate. This limits their economic opportunities and perpetuates the cycle of poverty.
    Income inequality: Women are often paid less than men for the same work, and they are more likely to be in low-paying, informal jobs with little job security or social protections.
    Health disparities: Women living in poverty are at a greater risk of poor health due to lack of access to healthcare, nutritious food, and adequate sanitation.
    Increased burden of care: Women in poverty are often responsible for caring for children and other dependents, which can make it harder for them to find and keep jobs, and limits their ability to earn income.
    Greater vulnerability to violence: Women living in poverty are more likely to experience gender-based violence and have less access to legal and social support services.
    Limited participation in decision-making: Women living in poverty are often marginalized in their communities and lack the power to make decisions about their own lives and the lives of their families.
    Cultural biases: in some societies women are treated as lower class people, they are not allowed to attain a level of education, they are viewed as baby making machines for the men, they are not involved in decision making process or even allowed to carry out any innovative activities, by so doing some talents possessed by the female child is killed and this automatically creates a population of dependent women.
    All these factors contribute to the fact that women are more likely to live in poverty, and poverty disproportionately affects women and girls.

  43. Asogwa Ijeoma Agatha 2019/ 251105 says:

    Name: Asogwa Ijeoma Agatha
    Reg no: 2019/251105
    Department: Economics

    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.

    Answer
    China and India have played a significant role in promoting the political emergence of Third World countries through their participation in various international organizations and movements. China has been a leader in the Non-Aligned Movement, which promotes the political and economic independence of Third World countries. India has also been active in the Non-Aligned Movement, and has also played a key role in the formation of the Group of 77, a coalition of developing countries that works to promote their collective economic interests. Both countries have also provided economic and military assistance to Third World countries or global north and have used their own experiences of development to serve as models for other nations.
    Both countries have also played a significant role in altering the relationship between countries of the global south and their counterparts in the global north, as well as between communist and capitalist blocs.
    China’s emergence as a major economic power and its strong emphasis on self-reliance and economic development have encouraged other Third World countries to pursue similar paths. China’s success in lifting hundreds of millions of people out of poverty and its ability to maintain high economic growth rates despite being a communist country have challenged the idea that capitalism is the only path to prosperity.
    India’s own democratic and capitalist system provided an alternative model to the Soviet-style socialism that was promoted by many Third World countries.
    Both countries have also changed the relationship between Third World countries and industrial countries by challenging the idea that developed countries should dictate the economic and political policies of developing countries. They have advocated for greater representation and decision-making power for Third World countries in international organizations and have called for more equitable economic relationships between developed and developing nations.
    Overall, China and India have played a significant role in challenging traditional power dynamics and promoting greater autonomy and representation for Third World countries in international affairs.

    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and Indicators for measuring development and under development.

    Answer
    The United Nations uses several criteria and indicators to measure development and underdevelopment. These include:
    Gross Domestic Product (GDP): GDP is the most widely used indicator of economic development. It measures the value of all goods and services produced within a country in a given period of time.
    Human Development Index (HDI): HDI measures a country’s overall development by taking into account three key components: life expectancy, education, and per capita income.
    Gender Development Index (GDI): GDI measures gender-based inequalities in the same three key components of HDI: life expectancy, education, and per capita income.
    Multidimensional Poverty Index (MPI): MPI is a measure of poverty that takes into account multiple dimensions of poverty, including health, education, and living standards.
    Gini coefficient: The Gini coefficient measures income inequality within a country. A Gini coefficient of 0 indicates perfect equality, while a coefficient of 1 indicates perfect inequality.
    Education Index: Education Index is an indicator of the level of education in a country, based on the adult literacy rate and the combined primary, secondary and tertiary gross enrollment ratio.
    Life expectancy at birth: Life expectancy at birth measures the average number of years a person can expect to live in a given country.
    Employment rate: Employment rate measures the percentage of the population that is employed.
    Poverty rate: Poverty rate measures the percentage of the population living below the poverty line.

    The World Bank uses several criteria and indicators to measure development and underdevelopment. These include:
    Gross National Income (GNI) per capita: GNI per capita is a measure of a country’s economic development, calculated by dividing the country’s total GNI by its population.
    Poverty rate: Poverty rate measures the percentage of the population living below the poverty line.
    Access to basic services: The World Bank measures access to basic services, such as education, healthcare, and clean water, as an indicator of development.
    Gender Development Index (GDI): GDI measures gender-based inequalities in the same three key components of HDI: life expectancy, education, and per capita income.
    Human Capital Index (HCI): HCI measures the productivity of a country’s population by taking into account factors such as education, health, and labor force participation.
    Ease of Doing Business Index (EODB): EODB measures the ease of doing business in a country by taking into account factors such as the time and cost of starting a business, access to credit, and the ease of paying taxes.
    Investment Climate Assessment (ICA): ICA measures the investment climate of a country by assessing the ease of doing business, the quality of infrastructure, and the effectiveness of governance.
    Logistics Performance Index (LPI): LPI measures the efficiency of a country’s logistics network by taking into account factors such as customs clearance times, the quality of transport infrastructure, and the reliability of logistics services.
    Business Environment and Enterprise Performance Survey (BEEPS): BEEPS is a survey that measures the business environment and enterprise performance in a country by assessing the perceptions of firms on various business environment variables such as access to finance, corruption, and labor regulations.

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.

    Answer
    Developing countries often have lower levels of economic development and infrastructure, lower per capita income, and higher poverty rates compared to developed countries. They also tend to have less developed industrial bases, less access to technology, and less educated populations. Additionally, many developing countries have higher rates of disease and lower life expectancies. Political instability and corruption may also be more prevalent in developing countries.
    Developing countries, also known as less developed countries or emerging economies, typically have lower levels of economic development and standard of living compared to developed countries. Some common characteristics of developing countries include:
    High poverty rates: this is caused by high rate of unemployment, all the factors of production are idle and production is low causing a manufacturer to produce less there by rendering some production factors idle.
    Dependence on agriculture and natural resources: developing nations relies on subsistence agriculture production, whereby they produce for their personal consumption and any left over from their produce is been sold to the members of their village or neighboring villages.
    Limited access to education, healthcare, and basic infrastructure: most developing countries live in rural areas where there is limited access to basic amenities and the structures available in such areas are depleted.
    High population growth and urbanization: developing countries are experiencing increasing population growth without an increasing in production in rural areas making people to live the rural areas in search of green pastures.
    Limited industrialization and technological development
    Political and economic instability: developing countries are facing on stable governance and economic instability, because they population is growing at a geometric rate while the food supply is growing at an arithmetic rate, and with this many people are not working prices of goods are constantly rising leading to inflation or sometimes the countries experience recession.
    High external debt: the government of developing nations tends to borrow too much from international organization or from developed countries by so doing the external debts increases.
    Greater vulnerability to natural disasters and climate change: developing nations are at greater risks of experiencing natural disasters because we lack technologies and technical know how on how to manage our environment. Using oil mining in Nigeria as a case study, areas around bayelsa were oil is gotten from are at great risks of experiencing disasters and are currently facing some environment hazard.
    Low per capital income

    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?

    Answer
    I agree to the above statement that says “poverty has the face of a woman. Over the years poverty disproportionately affects women and girl child in many ways, due to some cultural biases on the female child, Educational level and societal opinion about what a female should and should not do. To back my claims here are some examples of how poverty has the face of a woman:
    Lack of education: Women and girls in poverty-stricken areas often lack access to education and are more likely to be illiterate. This limits their economic opportunities and perpetuates the cycle of poverty.
    Income inequality: Women are often paid less than men for the same work, and they are more likely to be in low-paying, informal jobs with little job security or social protections.
    Health disparities: Women living in poverty are at a greater risk of poor health due to lack of access to healthcare, nutritious food, and adequate sanitation.
    Increased burden of care: Women in poverty are often responsible for caring for children and other dependents, which can make it harder for them to find and keep jobs, and limits their ability to earn income.
    Greater vulnerability to violence: Women living in poverty are more likely to experience gender-based violence and have less access to legal and social support services.
    Limited participation in decision-making: Women living in poverty are often marginalized in their communities and lack the power to make decisions about their own lives and the lives of their families.
    Cultural biases: in some societies women are treated as lower class people, they are not allowed to attain a level of education, they are viewed as baby making machines for the men, they are not involved in decision making process or even allowed to carry out any innovative activities, by so doing some talents possessed by the female child is killed and this automatically creates a population of dependent women.
    All these factors contribute to the fact that women are more likely to live in poverty, and poverty disproportionately affects women and girls.

  44. Onwukwe Joseph Nwachukwu says:

    Name:- ONWUKWE JOSEPH NWACHUKWU.
    Reg Number:- 2019/243773.
    Department:- ECONOMICS.
    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.

    ANSWER:- As a result of de-colonization, The United Nations, at first numerically dominated by European countries and countries of European origin was gradually transformed into something of third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, although essentially academic debate. Despite that debate, the unity of the third world remains hypothetical, expressed mainly from the platform of international conference.

    2.  Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.

    ANSWER:- Countries with a (GNI) of $11,905 and less are defined as developing (Specified by the world Bank in the year 2015) and $12,275( World Bank in the year 2019).
    The United Nations’ Human Development Index (HDI) seeks to quantify a country’s level of prosperity based on both economic and non-economic factors. Non-economic factors include life expectancy, and educational attainment. Economic factors are measured by gross national income (GNI) per-capita.

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.

    ANSWER:- (a). Excessive Dependence on Agriculture:- A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
    (b). Low Level of Capital Formation:- The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
    (c). Rapid population growth and Unemployment:-. The diversity among developing economies is perhaps nowhere to be seen so much in evidence as in respect of the facts of their population in respect of its size, density and growth. While we have examples of India, Pakistan and Bangladesh with their teeming millions and galloping rates of population growth, there are the Latin American countries which are very sparsely populated and whose total population in some cases numbers less than a single metropolitan city in India and China. In several newly emerging countries of Africa too and in some of the Middle Eastern countries the size of their population cannot be regarded as excessive, considering their large expanse. The South- East and Eastern Asia, on the other hand, have large populations.

    4.  It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?

    ANSWER:- I support the motion which says that Poverty has the face of a woman…Nigeria in particular has proven this to me; Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment.

  45. NNAJI KELECHI Reg no: 2019/245744 Economics dept says:

    Name :Nnaji kelechi
    Reg no :2019/245744
    Department: Economics dept

    Eco 361 assignment
    No 1
    The bandung conference in 1955, was the beginning of political emergence of the third world.
    As a result of decolonization, the united nations at first numerically dominated by European countries and countries of European origin, was gradually transformed in something of a third world forum.
    No 2
    However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
    There are
    1. Change to atlas GNI per capital
    In each country, factors such as economic growth, inflation, exchange rate, and population growth influences the level of atlas GNI per capital.
    The world Bank’s official estimates of the size of economics are based on the GNI converted to current U.S dollars using the world bank atlas method.
    The atlas method smoothes exchange rate fluctuations by using a three year moving average, price adjusted convertion factor.
    2. To keep income classification thresholds fixed in real terms they are adjusted annually for inflation using the special drawing right (SDR) deflator.
    ***The special drawing right (SDR) isan international reserve asset created by the IMF to supplement the official reserves of it’s member countries.
    SDR is a potential claim on the freelyusable currencies of IMF members. As such SDR can provide a country with liquidity.
    ** The SDR deflator is used as a measure of world inflation for annual adjustments to operational and analytical income thresholds and world Bank’s atlas method estimates of GNI per capital.

    No 3
    The characteristics of a developing nations are
    I. High rate of population growth and dependency rate burdens
    Most developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children.

    Ii. Low levels of productivity
    The majority of the population are involved in subsistence agriculture that is the production of food for themselves and there familiea rather than for commercial purposes.
    In developing nations, the productivity of factors of production is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently.
    Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
    iii. High and raising levels of unemployment and underemployment
    Unemployment and underemployment are other major problems and common features of developing. The problem of unemployment and underemployment in developing countries is as a result of excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. An example is a PhD holder teaching in primary school.
    iv. widespread poverty
    Most individuals in developing nations are suffering from the problem of poverty. They are not able to provide their basic needs. So, poverty in developing countries can be seen in terms of inability to provide basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access
    V. Substantial dependency on agricultural production and primary product exports.
    The majority of the population in developing nations is engaged in the agriculture sector and the majority of the population are involved in subsistence agriculture that is the production of food for themselves and there familiea rather than for commercial purposes and export.Agriculture is one of the main source of income and employment in such nations because they export more of primary products such as crude oil, coacoa .This sector has also a higher share of the gross domestic product in poor countries.

    No 4
    Yes I agree that poverty have a woman’s face.
    The reason is because women are the most people that suffers poverty unlike the men in terms of their responsibility. Just like in some society the women are seen as inferior to men. The men are trained in school or sent out to learn hand work and are given free hand to do what everything they like but it is not so with the women for they are seen as liability because they will be married by another man and will answer the name of the man. Woman are only seen as the people that give birth to children take care of the children, wash the clothes of her husband and keep the house clean and will have will have little or no room or opportunity to make money maybe sell stuff or be employed because their hands are tied up with toomuch responsibility while the men are seen as the people that provides the basic needs of the family and makes the decision in the family. And this beings about women depending on their husbands for money or for provisions making them to have the face of poverty

  46. UZOCHUKWU CHIDINMA VIVIAN says:

    NAME: UZOCHUKWU CHIDINMA VIVIAN
    REG NO: 2017/250786
    DEPARTMENT: ECONOMICS.

    1) Political self-determination, reciprocal respect for sovereign rights, non-aggression, non-interference in domestic matters, and equality were the fundamental tenets of the Bandung Conference.
    The conference’s stated objectives were to support economic and cultural cooperation between Afro-Asians and Asians and to reject colonialism and neocolonialism by any country.
    These objectives included advancing economic and cultural co-operation, safeguarding human rights and the idea of self-determination, urging an end to all forms of racial discrimination, and reiterating the significance of peaceful coexistence.

    2) The United Nations world bank and other Bretton woods institutions, indicators for measuring development are:
    1.Low
    2.Lower-middle
    3.Upper-middle
    4.High-income countries.

    3) The characteristics of Developing nations are:
    1.Low level of living: Most Developing nations of the world are characterized with low level of living. This is a situation whereby the people are unable to adequately feed, cloth and shelter themselves. They lack these three basic factors for sustenance.
    2.Low level of productivity: This is a situation where whereby people occupying government offices and positions and even civil servants produce less of what is expected of them. They exhibit nonchalant attitude to work and laziness while carrying out their functions. This could be as a result of the absence of a superior body to checkmate and oversee their activities.
    3. High rates of population growth and dependency burdens: In most developing countries, there is a very high increase in population growth and as such leads to dependency burden. This is as a result of no control in the increase in birth rate. As children are brought into the world with little or nothing to carter for them and as such it will result to them stealing or begging on the streets and neighborhoods.
    4. High and rising levels of unemployment and underemployment: Because of the high population found in most developing countries, there are little or no job opportunities in the workforce. And even some of them that are employed, are underemployed as they would just want to earn a living to survive.
    5. Traditional,rural and social structures: Most developing countries of the world lack basic structures like hospitals, schools and other facilities that could help facilitate human life.
    6. Widespread poverty: Widespread poverty is the commonest factor in developing nations. People who control economic power in government and in businesses are so little in ratio compared to those who do not. As such, poverty eats deep down in such countries.
    7. Prevalence of imperfect markets: An imperfect market is an environment in which all parties do not have complete information, and in which participants can influence prices. In such developing countries of the world, imperfect markets are so rampant, where a few control and determine prices in the market. This is an absence of a pure competitive market.
    8. Substantial dependence on agricultural production and primary-product exports: Most developing countries depend on subsistence agriculture where farmers plant and cultivate just for immediate consumption and not for commercialization where they can sell such farm products to yield income.
    9. Dependence and Vulnerability: Because most people in developed countries are not well cartered for especially women and children, they are exposed to the possibility of being attacked or harmed either physically or emotionally.

    4) It has been argued that poverty has the face of a woman. Do you agree or disagree? I AGREE.

    Poverty has the face of a woman in the sense that in most developing and underdeveloped countries of the world where poverty is pre-dominant, where traditional and social cultures are still existing, women are seen and taken as “second class citizens” because often a times they are denied basic education and skills so as to enable them to fend for themselves. They are made to fully rely on their husbands to fend for them and the children . And also recognizing the fact that women are child bearers that bring forth children to the world and so in cases where the husband is no more, then woman is left to fend for the family with little or nothing.
    And also, on average, in the gender wage gap, women earn less than men. Women struggle more than men to cover everyday expenses due to the gender wage gap, but the gap compounds over a lifetime, meaning women end up with fewer resources and savings than men.
    With these few extractions, I can say that poverty has the face of a woman.

  47. Sibeudu Chukwuebuka Raluchukwu says:

    Name: Sibeudu Chukwuebuka Raluchukwu
    Registration Number: 2019/244735
    Department: Economics

    1) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. Both India and China were a highly urban civilization by the 18th century, though of course the bulk of the population lived in rural areas.. China was much advanced in science and technology, with gunpowder, printing, paper and paper currency as its inventions. China’s scientific and technological achievements are known to us thanks to the monumental efforts of Joseph Needham. India was known for its mathematics and its philosophy. The Chinese gave the world the wheelbarrow and bureaucracy; India gave the world the zero, decimals and Buddhism. Both were major exporters of fine textiles, silks; their ships sailed around the world and indeed dominated the seas till 1500. After that the Chinese withdrew from the seas and while the Indians continued, the powers that be in Delhi or Agra had no need for a navy. It was the kingdoms in South India which were maritime adventurers. As they declined in power under the Mughals, Indian shipping began to be conducted increasingly on a private basis rather than a state sponsored one. The control of the seas passed to a series of Western European countries. Yet the two countries remained economically vibrant till the late 18th century. China had a higher productivity in its agriculture, the iron tipped plough having been in use at least half a millennium before it made its appearance in India. Thus Needham attributes the animal drawn plough to the period of the Warring states, while Habib says that the iron plough came to India in the first century AD.
    2) Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. UN’s Human Development Index (HDI) – measures a country’s average achievements in three basic dimensions of human development: life expectancy, educational attainment and adjusted real income ($PPP per person). UN’s Human Poverty Index (HPI) – measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under age 5.
    3) Clearly discuss and analyse the Common Characteristics of Developing Nations. a) High rates of population growth and dependency burdens – Developing nations either experience rapid population increase or have greater populations. Different factors contribute to the faster population increase in emerging nations. People feel more secure and have more children in these nations because of the higher newborn and child mortality rates. People in underdeveloped nations are also influenced to have more children by a lack of family planning information and alternatives, a lack of sex education, and beliefs that having more children will increase the workforce, which will increase income and riches. The idea of conservatism existing in such countries is another argument in favor of this. b) Widespread poverty – The majority of people in developing countries have been affected by the issue of poverty. Even the most fundamental demands cannot be met by them. The issue of poverty is also reflected in the low per capita in emerging countries. So, in addition to low per capita income, poverty in undeveloped nations is also defined as the inability to meet basic requirements, illiteracy, unemployment, and a lack of other socioeconomic engagement and access. c) High levels of rising unemployment and underemployment – A Problem: Other significant issues and prevalent traits of emerging or undeveloped countries include unemployment and underemployment. The issue of underemployment and unemployment in emerging nations is brought on by factors such as an overreliance on agriculture, a lack of industrialization, an improper use of natural resources, a lack of workforce planning, and others. Underemployment is a more significant issue than unemployment in developing countries. Because there are no alternatives to these types of professions, people are forced to work at subpar jobs. The problem of underemployment is widespread in several nations, particularly in their rural and underdeveloped regions.
    4) It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you don’t? Yes I agree. Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households. In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.

  48. Oke Amarachukwu Nnenna says:

    Name: Oke Amarachukwu Nnenna
    Registration Number: 2019/241949
    Department: Economics
    Eco 361

    Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. Both India and China were a highly urban civilization by the 18th century, though of course the bulk of the population lived in rural areas.. China was much advanced in science and technology, with gunpowder, printing, paper and paper currency as its inventions. China’s scientific and technological achievements are known to us thanks to the monumental efforts of Joseph Needham. India was known for its mathematics and its philosophy. The Chinese gave the world the wheelbarrow and bureaucracy; India gave the world the zero, decimals and Buddhism. Both were major exporters of fine textiles, silks; their ships sailed around the world and indeed dominated the seas till 1500. After that the Chinese withdrew from the seas and while the Indians continued, the powers that be in Delhi or Agra had no need for a navy. It was the kingdoms in South India which were maritime adventurers. As they declined in power under the Mughals, Indian shipping began to be conducted increasingly on a private basis rather than a state sponsored one. The control of the seas passed to a series of Western European countries. Yet the two countries remained economically vibrant till the late 18th century. China had a higher productivity in its agriculture, the iron tipped plough having been in use at least half a millennium before it made its appearance in India. Thus Needham attributes the animal drawn plough to the period of the Warring states, while Habib says that the iron plough came to India in the first century AD.
    Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. UN’s Human Poverty Index (HPI) – measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under age 5. UN’s Human Development Index (HDI) – measures a country’s average achievements in three basic dimensions of human development: life expectancy, educational attainment and adjusted real income ($PPP per person).
    Clearly discuss and analyse the Common Characteristics of Developing Nations. a) Inadequate infrastructure: In developing countries, infrastructure is not properly developed, including the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Additionally, constructed infrastructure is poorly managed and not allocated in an effective and equitable manner. This has put these countries’ ability to develop at risk. b) Consumption is high and saving is low: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help. c) Too much reliance on agriculture: In developing countries, especially in rural regions, the bulk of the population works in agriculture. In some countries, agriculture is the only industry that provides work and revenue.Additionally, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly.
    It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you don’t? Yes I agree. The effects of sexism and racism on institutional structures and across society limit the employment opportunities available to women, availability of caregiving supports, access to public social assistance programs, and more, leading to higher rates of poverty among women, particularly women of color, compared with men. Unmarried mothers have higher rates of poverty than married women, with or without children, and unmarried women without children. Almost one-quarter of unmarried mothers live below the poverty line. Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship. Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more than men. In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty.

  49. BENJAMIN IZUAGBA C. says:

    NAME: BENJAMIN IZUAGBA C.
    REG NO: 2018/245945
    DEPARTMENT: ECONOMICS

    (1) The term third world countries was used in the 1955 Afro-Asian conference,held in Bandung, Indonesia. This conference marked the biginning of the political emergence of the third world countries. Two countries( China and India) with different social and economic systems played a major role in actualising this.
    As a result of decolonization,most colonized countries became an independent state. These countries had a common historical background through European and North American domination,underdevelopment,rapid demographic growth etc. and they were called as the ‘Third World‘.The term ‘Third World’ referred to the one-third of the superpowers i.e. the United States and the Soviet Union. Third World,not a homogenous or similar group,has different political system and level of economic development. The Third World countries are also called developing countries because they are facing the economic,social and political problems like poverty,starvation,illiteracy and ethnic conflicts. This countries have opposed imperialism, colonialism, foreign intervention and have supported peaceful coexistence. Since they all have similar challenges and aspirations formed and called themselves a non- alignment countries. Non- alignment here means not belonging to any of the two world powers or Bloc(America and Russia)
    (2)The set of indices developed by UN and other global agencies on how to measure development includes:
    (i) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:
    (a) Life expectancy
    (b) Educational attainment and
    (c) Adjusted real income
    The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of most African countries for example. Countries like USA,France,South Korea etc are examples of countries with high HDI.
    (ii) UN’s Human Poverty Index (HPI): This index measures deprivation using % of people expected to die before age 40, % of of illiterate adults, % of people without access to health services and safe water and the % of underweight children under five.
    Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due to lack of education etc.
    Norway formally was regarded as country with low HPI,but currently, Switzerland which was formerly second in the ranking is now dominating as the country with the lowest HPI.
    Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered undeveloped.
    According to World Bank, countries with a GNI of 11,905 US dollar and less are developing (specified by the World Bank,2015) and 12,275 US dollar (World Bank,2019)

    (3) The following are the common characteristics of Developing Nation:
    (i) Low level of living: in almost all the developing countries, the majority of the population of the country is faced with low level of living, as they are poor and unable to adequately provide there basic necessities of life.
    (ii) Low Level of Productivity: One common feature that most developed countries posses, that developing countries does not posses is Economic growth which is measured based on a countries productive ability. In developing countries,resources are under utilized and this gives rise to low level of productivity.
    (iii) High rate of Population growth and dependency burdens: Developing countries are mostly characterised by a continuous increase in their population. Not just that,the rate of the dependent population also rises due to increase in population without a corresponding increase in employment, production level etc.
    (iv) High and rising level of Unemployment and Under employment: Due to low level of productivity, there is inadequate employment for the working population,hence this gives rise to high and rising level of Unemployment. The unavailability of jobs also renders most skilled labours in the country useless,hence leaving them with no choice but to venture into any job that comes there way,even though the job underscores his potential,in the bid to survive.
    (v) Traditional,Rural social Structures: Developing nations are also characterised by Traditional,Rural Social Structures. Rural institutions and traditional settings are commonly found in the developing countries society.
    (vi) Widespread of poverty: Poverty as a term is the inability of people to provide there daily necessity of food,shelter and clothing. The majority of people in any developing countries are poor,just few are rich which gives rise to inequality.
    (vii) Prevalence of Imperfect market: Due to low level of production,there are little or no producers of goods and services needed by the consumers in the developing countries. The little producers available hence increase the price of their goods outrageously in order to make excessive profit at the expense of the consumer. This is a clear example of an imperfect market.
    (viii) Substantial dependence on agricultural products and primary products export:
    Developing nations are Agrarian in nature. They produce agricultural produce(primary products) such as cocoa, Kolanut, timber,cotton, palm kernel etc and export to foreign countries. The export of agricultural products for example amounted greatly in the GDP of Nigeria prior to the discovery and exploration of crude oil in Nigeria
    (ix) Dependence and Vulnerability: The societies of developing countries are faced with exposure to insecurity which limits the freedom of man. This is common in developing countries.
    (x) Distorted Economics devoted to producing primary products for the developed world and to provide Market for their finished goods: Developing countries mostly produce primary products which they export to developed world as raw materials for there companies. The developed countries also exports the finished goods produced back to the developing countries for consumption. By so doing,the developing countries provides market for the developed countries finished goods.
    (4) I agree with the argument ‘ Poverty has the face of a woman’. My reasons for agreeing to the argument are:
    Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
    Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender based violence is a daily reality for many.
    , the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
    The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
    Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.

  50. Nwakanma Chisom Blessing says:

    Name: Nwakanma Chisom Blessing
    Registration Number: 2019/241255
    Department: Economics
    Eco 361

    Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. China and India are the giants of the emerging world. With more than a third of the world’s population between them, these two countries would have an immense effect on global trends even if they were not growing rapidly. But over the past 10 years, China and India have also been among the fastest growing economies in the world. Since 1995, average income in China has increased almost tenfold, while in India it has nearly quadrupled. Despite very different political and economic systems, both countries have lifted millions from poverty, while income inequality and environmental degradation have worsened. Given the scale of these changes, the emergence of India and China has had profound implications for the rest of the world. But China and India have pursued very different development paths. China’s economic model has focused on gearing its manufacturing industries toward exports for the rest of the world. India has also become increasingly integrated with the rest of the world, though under its model, domestic demand and services have played a more important role. As this process has played out, China has become the workshop of the world. India’s growth has been less spectacular, but in many industries, from petrochemicals to software, India has achieved success on the global stage. Chinese goods—from T-shirts and air conditioners to iPod components and furniture—are for sale in almost every country on the planet. By contrast, Indian engineers automate office processes, call centers troubleshoot software glitches, and pharmaceutical companies produce generic drugs for clients around the world.
    Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. UN’s Human Poverty Index (HPI) – measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under age 5. UN’s Human Development Index (HDI) – measures a country’s average achievements in three basic dimensions of human development: life expectancy, educational attainment and adjusted real income ($PPP per person).
    Clearly discuss and analyse the Common Characteristics of Developing Nations. a) Low real per capita income: When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty. One of the biggest issues that undeveloped nations deal with is this. b) Consumption is high and saving is low: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help. c) Unemployment and underemployment: A Problem: Other significant issues and prevalent traits of emerging or undeveloped countries include unemployment and underemployment. The issue of underemployment and unemployment in emerging nations is brought on by factors such as an overreliance on agriculture, a lack of industrialization, an improper use of natural resources, a lack of workforce planning, and others. Underemployment is a more significant issue than unemployment in developing countries.
    It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you don’t? Yes I agree. The effects of sexism and racism on institutional structures and across society limit the employment opportunities available to women, availability of caregiving supports, access to public social assistance programs, and more, leading to higher rates of poverty among women, particularly women of color, compared with men. Unmarried mothers have higher rates of poverty than married women, with or without children, and unmarried women without children. Almost one-quarter of unmarried mothers live below the poverty line. Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship. Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more than men. In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty.

  51. Name: Alozie-Uwa Chidinma Elizabeth
    Department: Economics
    Reg no: 2019/246255
    1) China and India have taken different routes to enter the world economy, and that has resulted in their gaining complementary strengths. Some business leaders have learned to make use of both countries’ resources and capabilities, as I shall show in the following pages. In the process, they have become globally competitive. Multinational companies will only lose if they don’t take advantage of the complementarities between the two economies. If they embrace both countries, however, they can tap into diverse strengths almost as easily as Chinese and Indian companies will.
    Fathoming the Depth of Their Relationship
    The tensions between China and India are real, but they will eventually prove to be aberrant. There are three good reasons for believing that: one historic, one economic, and one strategic.

    First, China and India sealed their borders in modern times, but in the 2,000 years preceding the conflict of 1962, the two countries enjoyed strong economic, religious, and cultural ties. By the second century bc, the southern branch of the Silk Road—an interconnected series of ancient trade routes on land and sea—linked the cities of Xi’an in China and Pataliputra in India. Trade on the Tea and Horse Road, as the Chinese called it, was a significant factor in the growth of the Chinese and Indian civilizations. Seen in that light, the closing of the Sino–Indian border—not the border’s reopening—is the anomaly.

    Second, economists tell us that neighbors tend to trade more than other nations do. An official committee set up to encourage commerce between China and India recently suggested that bilateral trade could touch $50 billion by 2010. Even the official numbers understate the potential, according to economists who use gravity models to estimate what the trade between two countries should be. Such models calculate potential bilateral trade as a function of the size of the nations, the physical distance between them, and other factors such as whether they share a language, a colonial past, a border, membership of a free-trade zone, and so on. Sino–Indian trade today is up to 40% less than it could be, according to those models. Moreover, Sino–Indian trade is more balanced than China’s trade with the United States and Europe; the latter countries’ large deficits cause political friction.

    Third, China and India, after they cut themselves off from each other, evolved in complementary ways that reduced the competitiveness between them. What China is good at, India is not—and vice versa. China instituted sweeping economic reforms in 1978 and has steadily opened up thereafter. A balance-of-payments crisis forced India’s reforms in 1991, but because of political factors, liberalization has been slow and piecemeal there ever since. China uses top-down authority to channel entrepreneurship; in fact, the government is the entrepreneur in many cases. India revels in a private sector–led frenzy, and its government is incapable of efficiency. China struggles to control fixed asset investment, while India is constrained by scarce capital. China welcomes foreigners, shunning only those who are not part of its power structure. India shuns foreigners and mollycoddles its own. China’s capital markets are nonexistent; India’s are among the best in the emerging markets. And so on. There are no two countries more yin and yang than China and India.
    The coming together of China and India puts at a disadvantage many companies, especially from the West, that refuse to react to this trend. They will not be able to generate the synergies that their Chinese and Indian rivals can. If they lose share in those two markets, they are—given China’s and India’s size—unlikely to remain market leaders for very long. Thus, Sino–Indian emerging giants pose a stiffer threat to multinational incumbents than the latter have so far .

    2)There are many different measures used to assess the development gap, each one offering an alternate way of dividing up the world with regards to how developed it is. Here, we shall look at some of the most common indicators of development used in geography.

    A. Gross Domestic Product (GDP)
    GDP is s how much money a country makes from its products over the course of a year, usually converted to US Dollars: the sum of gross value added by all resident producers in the economy + product taxes – any subsidies not included in the value of the products.Gross National Product (GNP), GNP is the GDP of a nation together with any money that has been earned by investment abroad minus the income earned by non-nationals within the nation.

    B. GNP per capita
    GNP per capita is calculated as GNP divided by population; it is usually expressed in US Dollars. It’s a common indicator used for measuring development, but is imperfect as the calculation doesn’t take into account certain forms of production, such as subsistence production.

    C. Birth and death rates
    Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.

    D. The Human Development Index (HDI)
    Countries are ranked based on their score and split into categories that suggest how well developed they are.

    E. Infant mortality rate
    Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.

    F.Literacy rate
    The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
    High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.

    G. Life expectancy
    This simple statistic can be used as an indicator of the healthcare quality in a country or provincelevel of sanitationprovision of care for the elderly.
    3) Characteristics of developing :
    A. Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
    B. Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
    C. Rapid Population Growth: Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
    D. The Problem of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
    E. Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
    F. Technological Backwardness: The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
    G. Dualistic Economy: Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
    H. Lack of Infrastructures: Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
    I. Lower Productivity: In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

    4) It is true that poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure hwo you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. l have had the priviledge of living in Sweden and lam realising that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.

  52. Name: Onyia Ugochukwu
    Reg no: 2019/249490
    Department: Economics

    1) Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.

    China and India have played important roles in Third World countries’ political and economic development. Both countries have distinct social and economic systems that have influenced the development and direction of other nations. In the international arena, China, as a communist country, has actively promoted anti-colonialism and non-alignment. India, on the other hand, has been a leading voice in the non-aligned movement and has worked to promote economic development in Third World countries. The global impact of these two countries cannot be overstated, and they continue to shape the political and economic landscape to this day.

    2) Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.

    Traditionally, a developing country is one that is not as wealthy as other countries. This is usually measured by looking at how much money the average person in the country earns each year, which is called Gross National Income (GNI) per capita. However, just looking at the money people earn doesn’t give a complete picture of how well a country is doing. So, other organizations like the United Nations and the World Bank, also look at other things like how many people are living in poverty, how good the education and healthcare system is, how long people live, and how stable the country’s economy and politics are. By looking at all these things together, they can get a better idea of how developed or underdeveloped a country is.

    3) Clearly discuss and analyse the Common Characteristics of Developing Nations.

    Low Gross Domestic Product (GDP) per capita: Developing nations generally have a lower GDP per capita compared to developed nations, which means that the average income of people in these countries is lower.

    High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be a result of low GDP per capita and a lack of job opportunities.

    Limited access to education and healthcare: Developing nations often have limited access to education and healthcare, which can result in lower literacy rates and poor health outcomes.

    Dependence on agriculture and natural resources: Developing nations are often heavily dependent on agriculture and natural resources for their economy, which can make them vulnerable to fluctuations in commodity prices.

    Infrastructure and technology gaps: Developing nations often have inadequate infrastructure and technology compared to developed nations, which can make it difficult for them to compete in the global economy.

    Political instability: Developing nations often face political instability, which can be a result of weak governance, corruption, and a lack of democratic institutions.

    4) It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?

    The statement “poverty has the face of a woman” means that women are disproportionately affected by poverty compared to men. This is often the case in many societies around the world. Women may face unique challenges that make them more vulnerable to poverty, such as discrimination in the workplace, lack of access to education and job training, and lack of control over their own finances.

    I agree with this statement to some extent. For example, in many countries, women earn less than men for doing the same work. This means that they have less money to support themselves and their families. Additionally, women are often responsible for taking care of children and elderly family members, which can make it harder for them to find and keep a job.

    However, I would also add that poverty is a complex issue and it affects both men and women. It is not only related to gender but also with other factors like race, education, and location. Therefore, it is important to have a comprehensive approach when addressing poverty, one that takes into account the unique challenges faced by different groups of people.

    In conclusion, I agree that women are disproportionately affected by poverty, but it is important to recognize that poverty is a multifaceted problem that affects individuals and communities in various ways.

  53. Nwokolo David Okechukwu says:

    Name: Nwokolo David Okechukwu
    Registration Number: 2018/244291
    Department: Economics
    Eco 361

    Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. The Chinese gave the world the wheelbarrow and bureaucracy; India gave the world the zero, decimals and Buddhism. Both were major exporters of fine textiles, silks; their ships sailed around the world and indeed dominated the seas till 1500. After that the Chinese withdrew from the seas and while the Indians continued, the powers that be in Delhi or Agra had no need for a navy. It was the kingdoms in South India which were maritime adventurers. As they declined in power under the Mughals, Indian shipping began to be conducted increasingly on a private basis rather than a state sponsored one. The control of the seas passed to a series of Western European countries. Yet the two countries remained economically vibrant till the late 18th century.
    Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. UN’s Human Poverty Index (HPI) – measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under age 5. UN’s Human Development Index (HDI) – measures a country’s average achievements in three basic dimensions of human development: life expectancy, educational attainment and adjusted real income ($PPP per person).
    Clearly discuss and analyse the Common Characteristics of Developing Nations. a) Too much reliance on agriculture: In developing countries, especially in rural regions, the bulk of the population works in agriculture. In some countries, agriculture is the only industry that provides work and revenue.Additionally, this sector accounts for a larger portion of the GDP in developing nations. More than 70% of the people in the economies of South Asia work in agriculture, either directly or indirectly. b) Consumption is high and saving is low: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help. c) Inadequate infrastructure: In developing countries, infrastructure is not properly developed, including the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. Additionally, constructed infrastructure is poorly managed and not allocated in an effective and equitable manner. This has put these countries’ ability to develop at risk.
    It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you don’t? Yes I agree. Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship. Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more than men. In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources.

  54. Ugwuala Faith Oluchi (2019/251298) says:

    Name: Ugwuala Faith Oluchi
    Department: Economics
    Reg no: 2019/251298
    1) China and India have taken different routes to enter the world economy, and that has resulted in their gaining complementary strengths. Some business leaders have learned to make use of both countries’ resources and capabilities, as I shall show in the following pages. In the process, they have become globally competitive. Multinational companies will only lose if they don’t take advantage of the complementarities between the two economies. If they embrace both countries, however, they can tap into diverse strengths almost as easily as Chinese and Indian companies will.
    Fathoming the Depth of Their Relationship
    The tensions between China and India are real, but they will eventually prove to be aberrant. There are three good reasons for believing that: one historic, one economic, and one strategic.

    First, China and India sealed their borders in modern times, but in the 2,000 years preceding the conflict of 1962, the two countries enjoyed strong economic, religious, and cultural ties. By the second century bc, the southern branch of the Silk Road—an interconnected series of ancient trade routes on land and sea—linked the cities of Xi’an in China and Pataliputra in India. Trade on the Tea and Horse Road, as the Chinese called it, was a significant factor in the growth of the Chinese and Indian civilizations. Seen in that light, the closing of the Sino–Indian border—not the border’s reopening—is the anomaly.

    Second, economists tell us that neighbors tend to trade more than other nations do. An official committee set up to encourage commerce between China and India recently suggested that bilateral trade could touch $50 billion by 2010. Even the official numbers understate the potential, according to economists who use gravity models to estimate what the trade between two countries should be. Such models calculate potential bilateral trade as a function of the size of the nations, the physical distance between them, and other factors such as whether they share a language, a colonial past, a border, membership of a free-trade zone, and so on. Sino–Indian trade today is up to 40% less than it could be, according to those models.

    Third, China and India, after they cut themselves off from each other, evolved in complementary ways that reduced the competitiveness between them. What China is good at, India is not—and vice versa. China instituted sweeping economic reforms in 1978 and has steadily opened up thereafter. A balance-of-payments crisis forced India’s reforms in 1991, but because of political factors, liberalization has been slow and piecemeal there ever since. China uses top-down authority to channel entrepreneurship; in fact, the government is the entrepreneur in many cases. India revels in a private sector–led frenzy, and its government is incapable of efficiency. China struggles to control fixed asset investment, while India is constrained by scarce capital. China’s capital markets are nonexistent; India’s are among the best in the emerging markets. And so on. There are no two countries more yin and yang than China and India.
    The coming together of China and India puts at a disadvantage many companies, especially from the West, that refuse to react to this trend. They will not be able to generate the synergies that their Chinese and Indian rivals can. If they lose share in those two markets, they are—given China’s and India’s size—unlikely to remain market leaders for very long. Thus, Sino–Indian emerging giants pose a stiffer threat to multinational incumbents than the latter have so far .
    2)There are many different measures used to assess the development gap, each one offering an alternate way of dividing up the world with regards to how developed it is. Here, we shall look at some of the most common indicators of development used in geography.

    A. Gross Domestic Product (GDP)
    GDP is s how much money a country makes from its products over the course of a year, usually converted to US Dollars: the sum of gross value added by all resident producers in the economy + product taxes – any subsidies not included in the value of the products.Gross National Product (GNP), GNP is the GDP of a nation together with any money that has been earned by investment abroad minus the income earned by non-nationals within the nation.

    B. GNP per capita
    GNP per capita is calculated as GNP divided by population; it is usually expressed in US Dollars. It’s a common indicator used for measuring development, but is imperfect as the calculation doesn’t take into account certain forms of production, such as subsistence production.

    C. Birth and death rates
    Crude Birth and Death rates (per 1000) can be used as an overall measure of the state of healthcare and education in a country, though these numbers do not give a full picture of a nation’s situation.

    D. The Human Development Index (HDI)
    Countries are ranked based on their score and split into categories that suggest how well developed they are.

    E. Infant mortality rate
    Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.

    F.Literacy rate
    The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
    High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.

    G. Life expectancy
    This simple statistic can be used as an indicator of the healthcare quality in a country or provincelevel of sanitationprovision of care for the elderly.
    3) Characteristics of developing :
    A. Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
    B. Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
    C. Rapid Population Growth: Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
    D. The Problem of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
    E. Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
    F. Technological Backwardness: The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
    G. Dualistic Economy: Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
    H. Lack of Infrastructures: Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

    I.Lower Productivity: In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
    4. I do not think that one should put a face to the world’s disease, called poverty. Some people may argue about its sources, and on this point I would agree with Ruwadzano comment that “women are often on the forefront of poverty” where men are presented to be the main income creator, but still this does not mean that one can connect this phenomenon with gender. From the moment that we start to theorize about poverty’s gender, we are trapped because it does not help us in any case, in fact provokes many questions and in some way destroys the concept of gender equality. It is true that tha mass media expresses poverty by using the picture of  women and children, but I think is created with an aim, to show us how important it is for this world to help the mothers in need, but it does not serve to show that poverty has a women’s face. Anyways, I am so glad you raised this question because there are various aspects that should be considered and analyzed.

  55. Eze Daniel Uchenna says:

    Name: Eze Daniel Uchenna
    Registration Number: 2018/244280
    Department: Economics
    Eco 361

    Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. China and India have been among the fastest growing economies in the world. Since 1995, average income in China has increased almost tenfold, while in India it has nearly quadrupled. Despite very different political and economic systems, both countries have lifted millions from poverty, while income inequality and environmental degradation have worsened. Given the scale of these changes, the emergence of India and China has had profound implications for the rest of the world. But China and India have pursued very different development paths. China’s economic model has focused on gearing its manufacturing industries toward exports for the rest of the world. India has also become increasingly integrated with the rest of the world, though under its model, domestic demand and services have played a more important role. As this process has played out, China has become the workshop of the world. India’s growth has been less spectacular, but in many industries, from petrochemicals to software, India has achieved success on the global stage. Chinese goods—from T-shirts and air conditioners to iPod components and furniture—are for sale in almost every country on the planet. By contrast, Indian engineers automate office processes, call centers troubleshoot software glitches, and pharmaceutical companies produce generic drugs for clients around the world.
    Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development. UN’s Human Poverty Index (HPI) – measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under age 5. UN’s Human Development Index (HDI) – measures a country’s average achievements in three basic dimensions of human development: life expectancy, educational attainment and adjusted real income ($PPP per person).
    Clearly discuss and analyse the Common Characteristics of Developing Nations. a) Low real per capita income: When compared to rich countries, the actual per capita income of emerging nations is quite low. This indicates that the average income or income per person in emerging countries is low and insufficient for saving or investing. As a result, low per capita income in emerging nations causes poor investment and savings, which leads to a vicious cycle of poverty. One of the biggest issues that undeveloped nations deal with is this. b) Unemployment and underemployment: A Problem: Other significant issues and prevalent traits of emerging or undeveloped countries include unemployment and underemployment. The issue of underemployment and unemployment in emerging nations is brought on by factors such as an overreliance on agriculture, a lack of industrialization, an improper use of natural resources, a lack of workforce planning, and others. Underemployment is a more significant issue than unemployment in developing countries. c) Consumption is high and saving is low: Low income leads to a strong inclination to consume, a poor propensity to save, and low capital development in developing nations. People in these countries struggle with poverty and are unable to meet the majority of their basic necessities. They will be forced to spend a larger percentage of their income on consumption as a result. Less saving occurs as a result of the increased spending as a percentage of earned income, which lowers capital accumulation. These nations will ultimately rely on restricted economic growth tools including loans, remittances, and foreign help.
    It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you don’t? Yes I agree. Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship. Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more than men. The effects of sexism and racism on institutional structures and across society limit the employment opportunities available to women, availability of caregiving supports, access to public social assistance programs, and more, leading to higher rates of poverty among women, particularly women of color, compared with men. Unmarried mothers have higher rates of poverty than married women, with or without children, and unmarried women without children. Almost one-quarter of unmarried mothers live below the poverty line. In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty.

  56. UGWU FAITH CHINONSO / 2019/250098 /Economics says:

    (1) These two countries china and India played a major role in promoting the political emergence because with the intervention of government with the operations going on in an economy, it would be easy to separate the developing countries and developed countries because china and india are already developed countries and they wanted a law that will make them to be more powerful than any other countries but with the conference being introduced they were able to achieve that and these two are majorly a capitalist economy in which every of there citizens are given equal chance of contributing to the growth of the economy and they also wanted to differenciate between an economy that there means of production are collectively owned but with the political emergence they will able to differenciate between these sectors.
    (2) Other criteria or indicators for measuring developed and under developed countries include employment rate because before an economy can be qualified to be termed developed it must have greater percentage of it’s population employed and less population unemployed because in under developed countries greater percentage of it’s population are unemployed and that affect the growth of the economy and another criteria is education because in most of the advanced and developed countries they always provide free education for it’s citizens from primary level to tertiary level for those people that cannot afford education but in an under developed countries they can’t provide free education for it’s citizens and that will affect the growth of the economy because many of it’s citizens will be illeterate and they won’t be able to contribute to the growth of the economy.
    (3i) Low level of living : i.e is not living up with the standard of living.
    (3ii) Low level of productivity: Not producing enough for it’s consumption.
    (3iii) Substantial dependence on agriculture: They operate mainly on subsistence farming instead of commercialized farming.
    (3iv) High rates of population growth and dependency burdens: The population growth are high and they depend mainly on government to provide for all their basic needs.
    (3v) Dependence and vulnerability: i.e ability of people being exposed to attacked or harmed either physically or emotionally.
    (4) is true that poverty has a woman face because women are likely to suffer most in any society because women are not always given equal chance with men in society and they suffer more to make name for themselves in any condition they see themselves.

  57. Odum precious naomi says:

    Odum precious
    2019/241331
    Economics
    1. The idea of the Third World, which is usually traced to the late 1940s or early 1950s, was increasingly used to try and generate unity and support among an emergent group of nation-states whose governments were reluctant to take sides in the Cold War. These leaders and governments sought to displace the ‘East-West’ conflict with the ‘North-South’ conflict. The rise of Third Worldism in the 1950s and 1960s was closely connected to a range of national liberation projects and specific forms of regionalism in the erstwhile colonies of Asia and Africa, as well as the former mandates and new nation-states of the Middle East, and the ‘older’ nation-states of Latin America. Exponents of Third Worldism in this period linked it to national liberation and various forms of Pan-Asianism, Pan-Arabism, Pan-Africanism and Pan-Americanism. The weakening or demise of the first generation of Third Worldist regimes in the 1960s and 1970s coincided with or was followed by the emergence of a second generation of Third Worldist regimes that articulated a more radical, explicitly socialist, vision. A moderate form of Third Worldism also became significant at the United Nations in the 1970s: it was centred on the call for a New International Economic Order (NIEO). By the 1980s, however, Third Worldism had entered into a period of dramatic decline. With the end of the Cold War, some movements, governments and commentators have sought to reorient and revitalise the idea of a Third World, while others have argued that it has lost its relevance. This introductory article provides a critical overview of the history of Third Worldism, while clarifying both its constraints and its appeal. As a world-historical movement, Third Worldism (in both its first and second generation modalities) emerged out of the activities and ideas of anti-colonial nationalists and their efforts to mesh highly romanticised interpretations of pre-colonial traditions and cultures with the utopianism embodied by Marxism and socialism specifically, and ‘Western’ visions of modernisation and development more generally. Apart from the problems associated with combining these different strands, Third Worldism also went into decline because of the contradictions inherent in the process of decolinisation and in the new international politico-economic order, in the context of the changing character, and eventual end, of the global political economy of the Cold War.

    2. Other criteria and indicators for measuring development and underdevelopment are;
    *The index of sustainable economic welfare
    *Quality of life index
    *where to be born index
    *Human Development Index
    *Human poverty index
    * consumer price index etc.

    3. Low per capita income-The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
    Ii. Poverty-Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
    Iii. Technology backwardness-Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
    Iv. Lack of infrastructure-Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations. This is very obvious in Nigeria, there is hogh level of infrastructure missing management.
    4.yes, I think poverty has a face of a woman because like an old saying goes train a woman and you train a society. In most developing countries we’re poverty is evident, consistent increase in population is one of the feature and this is because most women are not educated and don’t have basic knowledge of family planning , in this process they birth children they can’t train and the cycle continues. This children grow in poverty and also grow up training their kids in poverty and form a non ending cycle only 3% of vhildren that grew up in a poor home beats the cycle and become rich.

  58. Udeze Kelechi Blessing 2019/241719 says:

    NAME: UDEZE KELECHI BLESSING
    REG NO: 2019/241719
    EMAIL: blessingkelechi74@yahoo.com
    DEPT: ECONOMICS EDUCATION
    COURSE NO: ECO 361
    ASSIGNMENT ON DEVELOPMENT ECONOMICS
    ANSWER
    Question 1
    The government subsequently established a number of areas for foreign investment, including the special economic zones, open coastal cities, the economic and technology development zones, the delta open zones, the peninsula open zones, the open border citiees, and the high-tech industry development zones. The establishment of these zones provided the trigger for massive inflows of foreign investment, primarily from companies in Hong Kong and Taiwan. At the same time, China promoted its socialist market economy concept. The changes brought an entrepreneurial boom that resulted in the emergence of huge numbers of entrepreneurs and venture businesses within China.

Inflows of foreign capital, technology, and management knowhow enabled China to turn its vast labor resources and space to rapid economic growth. The shift to an open-door economic policy ushered in a period of high economic growth in the first half of the 1980s. The economy stagnated around the time of the Tiananmen Square Incident in 1989, but in the first half of the 1990s, China was again boasting high growth rates. Rapid economic growth was accompanied by a rise in per capita GDP. In 1998, per capita income, though still only about US$770, was 14 times higher than in 1980. Therefore, it seems reasonable to conclude that Deng Xiaoping’s first goal, which was to improve the economic status of the people, has been accomplished.
    Question 2
    Alternate measures
    i. The Human Development Index
    One expanded indicator, which attempts to measure the multi-dimensional aspect of development, is the Human Development Index (HDI), conceived by the United Nations Development Programme (UNDP). Mahbud ul Haq and Amartya Sen developed the index, which is better suited to track the progress, not only of rich, but also of poor nations.
    The first report on HDI was conducted in 1990. It incorporates the traditional approach to measuring economic growth, as well as education and health, which are crucial variables in determining how developed a society is. This is calculated through a geometric mean of GDP per capita, life expectancy at birth, and the average between mean years of schooling and expected years of schooling.
    ii. The Human Capital Index
    On 11th October 2018, The World Bank launched the Human Capital Index (HCI). This newly created index ranks 157 countries’ performances on a set of four health and Commission on the Measurement of Economic Performance and Social Progress education indicators according to an estimate of the economic productivity lost due to poor social outcomes. The main benefit is that it focuses on outcomes, rather on inputs, analogously to the Social Progress Index (SPI) and unlike GDP. For example, educational quality as measured by actual adjusted learning is weighted more appropriately against years of schooling. The main criticism to the HCI is that it might end up overvaluing the material benefits of education and health, thus commoditising people, instead of their societal contributions and their inherent aspect of being basic human rights. Notwithstanding, it is expected that mainly developing countries will make use of the HCI in order to quantify the results of social sector investments, thus increasing spending on human development (health, education, social security, etc.), which the World Bank argues have been forgotten at the expense of infrastructure and institutional development.
    iii The Social Progress index
    There is arguably a better way of measuring societal development: the SPI. The SPI was developed by the non-profit, Social Progress Imperative. It is one of the outcomes of the – or simply, Stiglitz-Sen-Fitoussi, after its leaders. The main objective of the Commission was to investigate how the wealth and social development of countries could be measured beyond the uni-dimensional GDP measure. It is still a relatively new indicator, with data only for four years, however it covers a wide span of more than 130 countries.
    The SPI is a refinement of the HDI because it expands the number of composite indicators from only four to fifty-four in a wide array of areas, including basic human needs, foundations of well-being, and opportunities to progress. Therefore, this index is capable of synthesising the most relevant aspects that determine development. For example, access to water and sanitation, educational and health outcomes, public criminality, housing, access to information, and communication. Naturally, the main drawback of the SPI is its comparatively large complexity and lack of practicality when used to inform policy making.
    Question 3
    Major Characteristics of Developing Countries
    Low Per Capita Real Income
    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
    Mass Poverty
    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
    Rapid Population Growth
    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
    The Problem of Unemployment and Underemployment
    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries. 
    Excessive Dependence on Agriculture
    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
    Technological Backwardness
    The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
    Dualistic Economy
    Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
    Lack of Infrastructures
    Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
    Lower Productivity
    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
    High Consumption and Low Saving
    In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.    The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore. In a summary, the major characteristics of developing countries are presented in the following table.
    1 Low Per Capita Real Income
    2 Mass Poverty
    3 Rapid Population Growth
    4 The problem of Unemployment and Underemployment
    5 Excessive Dependence on Agriculture
    6 Technological Backwardness
    7 Dualistic Economy
    8 Lack of Infrastructures
    9 Lower Productivity
    10 High Consumption and Low Savin
    Question 4
    I agree that It has been argued that poverty has the face of a woman because:
    Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
    In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.

  59. Chidozie Chinaemerem Trust. 2019/241722. Education Economics says:

    ChidozieChinaemeremTrust. 2019/241722. Education Economics
    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.

    Because of the decolonization, the United Natioms at first numerically dominated by European countries and countries of European Origin was gradually transformed into something of a third World forum. With increasing urgency, the problem of underdevelopment then became the focus if a permanent, although essentially academic debate. Despite that debate, the unity of the third world remains hypothetical expressed mainly from the platforms of international Conferences.

    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.

    Developing countries are defined according to their Gross National Income ( GNI) per capital per year. Countries with a GNI of US  $11,905 and less are defined as developing ( specified by the World Bank, 2015) and $12,275 ( World Bank, 2019)

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.

    I. Low per capital real income
    ii. High Poverty Rate: There is a high poverty rate in developing countries. Poverty is so high that it has been said that poverty has the face of a woman.
    iii. High rate of unemployment and underemployment: This is no news that a developing country does not have enough work for its citizens. 
    iv. Rapid population growth: Despite the hardship in the country, their is high rate of Nuptiality and women keep giving birth which least to a rapid poplultaion growth and this is bad because it will lead to a high dependency rate On the incapable government
    v. Excessive dependence on Agriculture: Subsisitence agriculture is mostly what people engage in for survival and the agricultural products available are not enough for sale.
    Vi. Technological Backwardness: Developjng Countries lack technology. They do not try to improve their technological know how
    Vii. Lack of Infrastructures: There are no infrastructures and social amenities. Even when they are present, they are not properly taken care of or maintained
    Viii. Poor Working Conditions: Working conditions are not favourable at all. There are no safety measures for workers and any bad thing can happen during work which the management does not try to prevent
    Ix. Dependency and Vulnerability: Here, most house wives depends on their husbands to provide and not only that, the women are vulnerable to molestations and sexual abuse
    X. Low income: In developing countries, there is low income for the labourers. People toil from morning till night and gets low income or wages for their hardwork

    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?

    Yes, Poverty has a woman’s face. This is so because women are the greatest sufferers of poverty. If there are 50 poor men in the world, women are up to 127 . They are the greatest sufferers of Poverty as they care for their children, Work to provide for the family, Do the chores and still have to satisfy their husbands. They suffer more more than men. And in as much as they are the ones suffering more, they are still victims of molestations.Aso imagine where a family is poor, ofcourse the husband will be struggling to make ends meet but the weight of the family falls heavily on the woman. To think that they will also have to keep on reproducing with many children that they can fully take care of. Really the prolounders of that statement were not wrong when they said that Poverty has the face of a woman.

  60. EZEH PATRICK EZENWA says:

    NAME: EZEH PATRICK EZENWA
    DEPT: ECONOMICS MAJOR
    REG NO: 2019/244053
    EMAIL: Saintpatrickforchrist@gmail.com

    Q4. I Concur to the statement that ‘poverty has the face of a woman’. This is because back in the society,it is Well known that men are born mainly to provide for their family and protect them, while the women are meant to support the husband. In the course of providing for the family The father or male Individual does it better since it is more like a natural responsibility of all men. The woman in the other hand might find it hard in performing this function especially when she is acting as single mother. This is evident in the society. Most women after losing there husband finds life hard while being the bread winner of the family. They get affected mentally, physically and even emotionally,in some cases they end up losing their life due to the pressure and pain they go through.
    Likewise, the society in most cases is unfair and harsh to the women. They are not given access to many Social activities such as Education, Leadership role etc that will bring out there inner ability. This prevents them from being able to function adequately in the course of fending for themselves. They are been made to depend solely on men which in most cases are there husband, for there survival.
    This is why most people argue that poverty bears a Woman’s face.

  61. Samuel Favour says:

    NAME: SAMUEL FAVOUR
    REG NO: 2019/246079
    DEPARTMENT: EDUCATION/ECONOMICS

    1: Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
    The economies of underdeveloped countries have been geared to the needs of industrialized countries, they often comprise only a few modern economic activities, such as mining or the cultivation of plantation crops. Control over these activities has often remained in the hands of large foreign firms. The prices of third world products are usually determined by large buyers in the economically dominant countries of the West.
    Third World, the technologically less advanced, or developing, nations of China and india generally characterized as poor, having economies distorted by their dependence on the export of primary products to the developed countries in return for finished products. These nations also tend to have high rates of illiteracy, disease, and population growth and unstable governments.

    2:Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
    The World Bank categorizes countries based on various characteristics, such as geography, lending eligibility, fragility, and average level of income. When it comes to income , the World Bank divides the world’s economies into four income groups: high, upper-middle, lower-middle, and low.many countries’ incomes have transcended the income group thresholds over time. Because most parts of the world have experienced considerable economic growth in recent decades, and the classification thresholds are held stable in real terms, there are now fewer low-income countries and more countries have gained middle or high-income status.

    3:Clearly discuss and analyse the Common Characteristics of Developing Nations.
    1:. General poverty:
    There is widespread poverty in developing countries. The general living standard of people is very low due to their low income. That is why; they are not able to fulfill their basic necessities like food, shelter, cloth, etc. Majority of people are both in poverty and die in poverty. They live below the poverty line.
    2: Rapid population growth:
    There is rapid population growth in developing countries as compared to developed countries. The average annual growth rate of population in developing countries is about 1.5 % to 3 % whereas, in developing countries, it is about 0.7 % or about 1 %.
    3: High dependence on agriculture:
    Agriculture is the main occupation in developing countries. Majority of the population from 70 % to 80 % are engaged in developing countries whereas in developed countries 15 % or less depends on agriculture. The high dependency on agriculture is due to the low development of the non-agricultural sector.
    4:Underutilization of natural resources:
    Most developing countries are rich in natural resources. The natural resources in developing countries are either utilized or underutilized due to the various difficulties such as shortage of capital, the small size of the market, primitive technology. Nepal is rich in water resource but it is not being properly utilized due to the lack of capital.
    5:Existence of unemployment:
    The rapid population growth has created the problem of unemployment. Due to the lack of developing agricultural sectors like trade & industries and other services. Most of the increased population has to depend on agriculture provided employment for a few day and other days, they have to remain unemployed.

    4: It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
    Yes
    Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition. The risks of increasing poverty grow in parallel with the number of women-headed households. Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.

  62. Okeke Justice Nnamdi. (2019/242943) says:

    1.)The Bandung conference of 1955 led to the emergence of the third world. India
    played a major role in raising the voice of newly independent countries. As a result of
    independence movement, the United Nations, was gradually transformed into a third world
    forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
    Sri Lanka discussed peace, role of the Third World, economic development, and
    decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
    on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
    emergence of third world free from evils of capitalism and communism.
    Thus, the concept of the Third World was born. Communist China was one of the
    countries participating as the Third World Country rather than the Russian Soviet orbit. The
    1955 Bandung Conference was the first attempt at the creation and establishment of a third
    force in global politics. The term Third World was adopted to refer to a self-defining group
    of non-aligned states. The Bandung Conference played an important role in mobilizing the
    counter-hegemonic forces to be known as the Third World. There were other priority areas
    as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
    the United Nation .The conference also emphasis on the issues of increased cultural and
    technical cooperation between African and Asian governments along with the establishment
    for an economic development fund .It also raised its voice for the required support for
    human rights and the self-determinations of peoples and nations by the world community
    and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
    of perspective the international politics marked the emergence of a non-aligned bloc from
    the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
    bandung spirit is not detachment from the powerful Western countries, but non-aligned
    self helped organization against the powerful countries
    .The early 1960s were years of optimism in the Third World. Ghanaian prime minister
    Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
    place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
    democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
    its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
    politics and state planning to promote India‘s quest for political independence and economic
    autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
    and 1980s expanded and contracted as time progressed . The
    1961 Belgrade Non-Aligned Summit conference established an alternative platform for
    negotiating the diplomatic solidarity of countries which saw an advantage in
    advertising their autonomy from the rival superpower blocs. During the early 1960s,
    primary focus was directed towards mitigating the effects of the Cold War, ―as represented
    by the British and French invasion of the Suez, and the Russian invasion of Hungary in
    1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
    the next, the principle issues centered on problems of economic development, emerging
    due to intense uncertainty in the global economy
    . The 1960s and 70s, marked the great age of Third World rhetoric of common
    cause and common action.A significant event was the 1966 Tri-continental Conference
    of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
    across Asia, the Middle East, Africa and Latin America. This conference called for an
    increasingly radical anti-imperial agenda. During the 1970s, the
    collective identity of the majority of Latin American, Asian and African countries in
    international relations became expressed through demands for reform in the institutional
    structure of the international economy.The main thrust came from
    the Group of 77 (G77), which had been created at the first United Nations Conference on
    Trade and Development (UNCTAD) meeting held in 1964.

    2.)
    Some examples of social indicators of development include:

    Education levels – for example how many years of schooling children have.

    Health – often measured by life expectancy.

    Employment Rates

    Gender equality

    Peacefulness

    Democracy

    Corruption

    Media freedoms

    Civil Rights

    Crime/ social unrest

    Suicide Rates

    Composite indicators of all of the above

    3.
    Even though developing nations have very different backgrounds in terms of resources, history, demography, religion and politics, they still share a few common characteristics.
    i. Low Per Capita Real Income
    Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
    It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
    ii. High Population Growth Rate
    Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
    iii. High Rates of Unemployment
    In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
    iv. Dependence on Primary Sector
    Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
    v.Dependence on Exports of Primary Commodities
    Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.

    4.
    Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
    In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities . are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality

  63. ILOH+CHIOMA+SANDRA.+2019/244155 says:

    ILOH CHIOMA SANDRA
    ECONOMICS
    2019/244155
    1.
    As a result of decolonization the UN at first numerically Dominated by European countries and countries of European origin was gradually transformed into something of a third word forum.
    With increasing urgency, the problem of underdevelopment then became the focus of a permanent, although essentially academic debate.
    Despite the debate, the utility of the third world remain hypothetical expressed mainly from the platforms of international conference.

    2.
    World Bank describe the indices for measuring developed and under developmed countries as countries with GNI of $11905 and less are defined as developing (specified by the World Bank 2005) and $12275 (World Bank 2019).
    The united nations indices for measuring developed and underdeveloped countries are:
    HEALTH.
    The health component is assessed by life expectancy at birth. Along and healthy life, as measured by life expectancy at birth.
    KNOWLEDGE
    Education is measured by the average number of years of school completed by adults as well as the number of years of school expected to be completed by children. knowledge, as measured by mean years of schooling and expected years of schooling.
    STANADARD OF LIVING
    Standard of living is assessed by the GNI per capita, which provides a rough measure of the annual national income per person in a country
    a decent standard of living, as measured by GNI per capita in PPP terms in US$.

    3.
    *Low Per Capita Real Income
    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    *Mass Poverty
    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation.

    *Excessive Dependence on Agriculture
    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    *Excessive Dependence on Agriculture
    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    *Lack of Infrastructures
    Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

    *Lower Productivity
    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

    4. Yes, poverty has the face of a woman.
    To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
    Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.

  64. 1, In socialist economies, governments are charged with redistributing wealth and narrowing the gap between the poor and the rich. While no modern-day countries are considered to have a “pure” socialist system, Cuba, China, and North Korea have strong elements of socialist market economies.
    2, Gross National Income (GNI) is the total amount of money earned by a nation’s people and businesses. It is used to measure and track a nation’s wealth from year to year. The number includes the nation’s gross domestic product (GDP) plus the income it receives from overseas sources.

    The more widely known term GDP is an estimate of the total value of all goods and services produced within a nation for a set period, usually a year. GNI is an alternative to gross domestic product (GDP) as a means of measuring and tracking a nation’s wealth and is considered a more accurate indicator for some nations. The U.S. Bureau of Economic Affairs (BEA) tracks the GDP to measure the health of the U.S. economy from year to year. The two numbers are not significantly different. Finally, there’s gross national product (GNP), which is a broad measure of all economic activity. KEY TAKEAWAYS
    Gross national income (GNI) is an alternative to gross domestic product (GDP) as a measure of wealth. It calculates income instead of output.
    GNI can be calculated by adding income from foreign sources to gross domestic product.
    Nations that have substantial foreign direct investment, foreign corporate presence, or foreign aid will show a significant difference between GNI and GDP.
    3, Some developing countries have weak institutional structure such as lack of property rights, absence of the rule of law and political instability which affect incentives to invest. Besides, there are lot of differences with regard to levels of education, health, food production and availability of natural resources. However, despite this great diversity there are many common features of the developing economies. It is because of common characteristics that their developmental problems are studied within a common analytical framework of development economics.

    Characteristic # 1. Low Per Capita Income:

    The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan. According to these estimates for the year 1995, per capita income was $340 in India, $ 620 in China, $240 in Bangladesh, $ 700 in Sri Lanka. As against these, for the year 1995 per capita income was $ 26,980 in USA, $ 23,750 in Sweden, $ 39,640 in Japan and 40,630 in Switzerland.

    It may however be noted that the extent of poverty prevailing in the developing countries is not fully reflected in the per capita income which is only an average income and also includes the incomes of the rich also. Large inequalities in income distribution prevailing in these economies have made the lives of the people more miserable. A large bulk of population of these countries lives below the poverty line.

    For example, the recent estimates reveal that about 28 per cent of India’s population (i.e. about 260 million people) lives below the poverty line, that is, they are unable to get even sufficient calories of food needed for minimum subsistence, not to speak of minimum clothing and housing facilities. The situation in other developing countries is no better.
    Characteristic # 2. Excessive Dependence on Agriculture:

    A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.

    In the present-day developed countries, the modern industrial growth brought about structural transformation with the proportion of working population engaged in agriculture falling drastically and that employed in the modern industrial and services sectors rising enormously. This occurred due to the rapid growth of the modern sector on the one hand and tremendous rise in productivity in agriculture on the other.
    Characteristic # 3. Low Level of Capital Formation:

    The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.

    Since then there has been substantial increase in the rate of saving and investment in the developing countries. However, the quantity of capital per head is still very low in them and therefore productivity remains low. For example, in India rate of investment has now (2012-13) risen to about 35 per cent but it still remains a poor country with low level of productivity. This is because as a result of rapid population growth, capital per head is still very low.
    4, Chapter 1 discusses the link between gender and poverty. Women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.

    The chapter positions poverty as the root cause of gender inequality and discusses social entrepreneurship as a path toward women’s economic and social empowerment. The author introduces two approaches to addressing poverty among women: microcredit and small business cooperatives. The microfinance approach is exemplified by the Kashf Microfinance bank, founded by Roshaneh Zafar in Pakistan in 1996. By 2009, Kashf included 14,192 active borrowers, deposits of 3.8 million, and 42,073 depositors. COMUCAP, an organization based in the region of La Paz, Honduras, is representative of the cooperative approach. The program trained women to grow and sell coffee beans as a means to gain economic independence and escape domestic violence. Both case studies emphasize that helping women increase their economic agency gives them footing to combat poverty and achieve independence.
    Yes I agree that poverty has the face of a woman because women are major causes and reasons why most poverty cases occur today

  65. Nwadike Vivian Mmesoma says:

    Name: Nwadike Vivian Mmesoma
    Reg no: 2019/244657
    Dept: Economics

    Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.

    Two nation whose social and economic system were sharply opposed- china and India – played a major role in promoting that conference and in changing the relation between the third world and industrial countries, capitalist and communist.

    As a result of decolonization the united nations at first numerals dominated by European countries and countries of European origins were gradually transformed into a third world forum.

    With increasing urgency, the problem of underdevelopment, then became the focus of a permanent, although essentially academic debate. Despite that debate, the unity of the third world remains hypothetical expressed mainly from the platforms of the International Conference.

    Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.

    Poverty and Inequality: Indicators that measure the incidence and depth of poverty according to national and international definitions, as well the economic inequalities in income and wealth that exist both within and across countries and regions.

    People: Indicators on a range of topics that together build a portrait of societal progress across the world. They cover education, health, nutrition, mortality, and, jobs and unemployment, social protection, demographics, migration, and gender.

    Environment: Indicators on the use of natural resources, such as water and energy, and various measures of environmental degradation, including pollution, deforestation, and loss of habitat. Together these indicators help assess the extent of climate change and the human impact on the planet.

    Economy: Indicators for national accounts, including GDP, GNI, value added, and capital formation, as well as balance of payments, finance, consumption, and adjusted net savings among others, help us to measure the structure and growth of the world’s economies.

    States and Markets: Indicators on private investment, the public sector, financial systems, communication and transport infrastructure, science and technology, provide a picture of different business climates around the world, the functioning of governments, and the spread of new technologies.

    Global Links: Indicators on the size and direction of economic flows and linkages, such as trade, remittances, equity, and debt, as well as tourism and migration, provide an overview of the processes, structures, and partnerships that allow economies to flourish.

    Clearly discuss and analyse the Common Characteristics of Developing Nations.

    Low Per Capita Real Income

    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    Mass Poverty

    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    Rapid Population Growth

    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

    The Problem of Unemployment and Underemployment

    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

    Excessive Dependence on Agriculture

    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    Technological Backwardness

    The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

    . It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?

    “Poverty has the face of a woman”.

    Back in the days where Women were married off, regardless of age, kept in a man’s house for procreation only, her job as a woman is clean, wash and cook. Women were housewvies and are not allowed to work.
    Now, the old days are gone and a New era emerged, with the help of colonization which broke the shackles and opened eyes of the world to New things and ideas which had triggered the sudden urge to embrace civilisation.
    Women are no longer seen as baby making factories, but are seen as species with ambitions and aspirations.
    Women attain all levels of education and obtain certificates which gets them employed to work for notch companies, some or a great number of women head large companies, own multiple businesses and acquire Assests.

    Women go out of their homes and come back to the family just like men.
    In a contemporary society, women are the meanic and wealth controllers.
    In all these, they still birth children and take care of the home. These shows how much the world has evolved.

    So this statement ” Poverty has the face of woman” is practically obsolete.

  66. Ezeh somtochukwu Christian 2019/251470 says:

    1.)The Bandung conference of 1955 led to the emergence of the third world. India
    played a major role in raising the voice of newly independent countries. As a result of
    independence movement, the United Nations, was gradually transformed into a third world
    forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
    Sri Lanka discussed peace, role of the Third World, economic development, and
    decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
    on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
    emergence of third world free from evils of capitalism and communism.
    Thus, the concept of the Third World was born. Communist China was one of the
    countries participating as the Third World Country rather than the Russian Soviet orbit. The
    1955 Bandung Conference was the first attempt at the creation and establishment of a third
    force in global politics. The term Third World was adopted to refer to a self-defining group
    of non-aligned states. The Bandung Conference played an important role in mobilizing the
    counter-hegemonic forces to be known as the Third World. There were other priority areas
    as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
    the United Nation .The conference also emphasis on the issues of increased cultural and
    technical cooperation between African and Asian governments along with the establishment
    for an economic development fund .It also raised its voice for the required support for
    human rights and the self-determinations of peoples and nations by the world community
    and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
    of perspective the international politics marked the emergence of a non-aligned bloc from
    the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
    bandung spirit is not detachment from the powerful Western countries, but non-aligned
    self helped organization against the powerful countries
    .The early 1960s were years of optimism in the Third World. Ghanaian prime minister
    Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
    place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
    democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
    its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
    politics and state planning to promote India‘s quest for political independence and economic
    autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
    and 1980s expanded and contracted as time progressed . The
    1961 Belgrade Non-Aligned Summit conference established an alternative platform for
    negotiating the diplomatic solidarity of countries which saw an advantage in
    advertising their autonomy from the rival superpower blocs. During the early 1960s,
    primary focus was directed towards mitigating the effects of the Cold War, ―as represented
    by the British and French invasion of the Suez, and the Russian invasion of Hungary in
    1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
    the next, the principle issues centered on problems of economic development, emerging
    due to intense uncertainty in the global economy
    . The 1960s and 70s, marked the great age of Third World rhetoric of common
    cause and common action.A significant event was the 1966 Tri-continental Conference
    of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
    across Asia, the Middle East, Africa and Latin America. This conference called for an
    increasingly radical anti-imperial agenda. During the 1970s, the
    collective identity of the majority of Latin American, Asian and African countries in
    international relations became expressed through demands for reform in the institutional
    structure of the international economy.The main thrust came from
    the Group of 77 (G77), which had been created at the first United Nations Conference on
    Trade and Development (UNCTAD) meeting held in 1964.
    2.
    Some examples of social indicators of development include:

    Education levels – for example how many years of schooling children have.

    Health – often measured by life expectancy.

    Employment Rates

    Gender equality

    Peacefulness

    Democracy

    Corruption

    Media freedoms

    Civil Rights

    Crime/ social unrest

    Suicide Rates

    Composite indicators of all of the above

    3.
    Even though developing nations have very different backgrounds in terms of resources, history, demography, religion and politics, they still share a few common characteristics.
    i. Low Per Capita Real Income
    Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
    It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
    ii. High Population Growth Rate
    Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
    iii. High Rates of Unemployment
    In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
    iv. Dependence on Primary Sector
    Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
    v.Dependence on Exports of Primary Commodities
    Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.

    4.
    Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
    In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities . are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality

  67. Ezeh somtochukwu Christian 2019/251470 says:

    1.
    The Bandung conference of 1955 led to the emergence of the third world. India
    played a major role in raising the voice of newly independent countries. As a result of
    independence movement, the United Nations, was gradually transformed into a third world
    forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
    Sri Lanka discussed peace, role of the Third World, economic development, and
    decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
    on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
    emergence of third world free from evils of capitalism and communism.
    Thus, the concept of the Third World was born. Communist China was one of the
    countries participating as the Third World Country rather than the Russian Soviet orbit. The
    1955 Bandung Conference was the first attempt at the creation and establishment of a third
    force in global politics. The term Third World was adopted to refer to a self-defining group
    of non-aligned states. The Bandung Conference played an important role in mobilizing the
    counter-hegemonic forces to be known as the Third World. There were other priority areas
    as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
    the United Nation .The conference also emphasis on the issues of increased cultural and
    technical cooperation between African and Asian governments along with the establishment
    for an economic development fund .It also raised its voice for the required support for
    human rights and the self-determinations of peoples and nations by the world community
    and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
    of perspective the international politics marked the emergence of a non-aligned bloc from
    the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
    bandung spirit is not detachment from the powerful Western countries, but non-aligned
    self helped organization against the powerful countries
    .The early 1960s were years of optimism in the Third World. Ghanaian prime minister
    Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
    place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
    democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
    its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
    politics and state planning to promote India‘s quest for political independence and economic
    autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
    and 1980s expanded and contracted as time progressed . The
    1961 Belgrade Non-Aligned Summit conference established an alternative platform for
    negotiating the diplomatic solidarity of countries which saw an advantage in
    advertising their autonomy from the rival superpower blocs. During the early 1960s,
    primary focus was directed towards mitigating the effects of the Cold War, ―as represented
    by the British and French invasion of the Suez, and the Russian invasion of Hungary in
    1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
    the next, the principle issues centered on problems of economic development, emerging
    due to intense uncertainty in the global economy
    . The 1960s and 70s, marked the great age of Third World rhetoric of common
    cause and common action.A significant event was the 1966 Tri-continental Conference
    of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
    across Asia, the Middle East, Africa and Latin America. This conference called for an
    increasingly radical anti-imperial agenda. During the 1970s, the
    collective identity of the majority of Latin American, Asian and African countries in
    international relations became expressed through demands for reform in the institutional
    structure of the international economy.The main thrust came from
    the Group of 77 (G77), which had been created at the first United Nations Conference on
    Trade and Development (UNCTAD) meeting held in 1964.

    2.
    Some examples of social indicators of development include:

    Education levels – for example how many years of schooling children have.

    Health – often measured by life expectancy.

    Employment Rates

    Gender equality

    Peacefulness

    Democracy

    Corruption

    Media freedoms

    Civil Rights

    Crime/ social unrest

    Suicide Rates

    Composite indicators of all of the above

    3.
    Even though developing nations have very different backgrounds in terms of resources, history, demography, religion and politics, they still share a few common characteristics.
    i. Low Per Capita Real Income
    Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
    It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
    ii. High Population Growth Rate
    Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
    iii. High Rates of Unemployment
    In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.

    iv. Dependence on Primary Sector
    Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
    v.Dependence on Exports of Primary Commodities
    Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.

    4.
    Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
    In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities . are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality

  68. Ugwu kaosisochukwu immaculeta says:

    UGWU KAOSISOCHUKWU IMMACULETA
    2019/241226
    ECONOMICS DEPARTMENT

    1) In 1952, the term “third world” was originally used as a political designation to describe those states not part of the capitalist and economically developed state led by the U.S. (first world) or the communist states led by the Soviet Union (second world), this was during the cold war (1945-1991). In 1955, the Bandung conference led to the emergence of the third world countries politically. lt was the first Afro-Asian Conference held on 17 April, 1955 by third world countries in Indonesia to strengthen their position. At the end of World War II, the world was divided into two blocs, one led by America (also known as the capitalists) and the other by Soviet Union (also known as the socialist or totalitarian bloc). Both Asia and Africa saw the need to preserve their political independence and so did not like the idea of joining any of these blocs, this unity was further solidified with the bandung conference.
    In February 1947, the British decided to leave their colony, India, but not without violent clashes between Hindu and muslim communities and on 15th August 1947, the clash led to the separation of two subcontinent, Hindustan and Pakistan. In China, from 1946 till 1949, civil war broke out between the nationalists and communists after which China emerged as the world most populous communist state, the people’s Republic of China. The message these two countries carried was resounding to the other colonies since under oppression and for them it was like a source of motivation that completely eradicated their fear and hopelessness that they would never be free and this subsequently brought about their call for independence. Gradually with the independence of the third World Countries, the United Nations was transformed into something like a third world forum, though these countries were not united and had varying political affinity.

    2.The World bank and other Bretton woods institutions recently use two methods to compare and classify the economies of countries into low, lower middle, upper middle and high-income groups. This grouping help to serve as an indicator for development and underdevelopment across nations. The two methods postulated by these institutions are;
    a. Atlas method: This is a method used by the world bank since 1993 to estimate the size of other countries economies in terms GNI in U.S. dollars, using various factors which affects the changes in the development in each country. To use this method, a country’s GNI using their local currency is first converted into dollars using the Atlas conversion factor, which uses a 3-year average of exchange rates to smoothen the effects of transitory exchange rate flunctuations, adjusted for the difference between the rate of inflation in the home country and that in a number of developed countries, the resulting GNI in dollars will then be divided by the home country’s mid year population to get the GNI per capita.
    b. Another method is changing Income classification threshold by using special drawing rights deflator. This Special Drawing Right (SDR) is an interest bearing international reserve asset created by the IMF in 1969 to supplement other reserve assets of member countries. Therefore, SDR is not a currency rather it is based on a basket of International currencies that are adjusted annually for inflation so as to supplement the member country’s claim on the freely usable currencies, held only by IMF member countries, thereby providing liquidity for countries.

    3a. Low levels of living : This is Synonymous to having a low per capita real income which means that such household is living below the standard and thus have low savings and investments as a result.
    b) Low levels of productivity: The productivity of industries, and Individuals in developing countries are usually low due to poor management, workplace stress owing to more work less pay, poor organizational structure, low technological advancement and many others all these serve to reduce motivation and subsequently lower productivity.
    c. High rates of population growth and dependency burdens: Due to lack of family planning options cases of rising population can be seen in developing countries. Another factor responsible is high fertility leading to large families which were viewed to be assets whereas they were burdens.
    d. High and rising levels of unemployment and underemployment: There are various causes of this problem, majority being low industrial development, lack of workforce planning as well as lack of proper utilization of existing natural resources e.t.c. and till all or some of these problems are solved the country will have to continue developing.
    e. Traditional, rural social structures: Most developing countries are rural based in their structure, relying mostly on traditional agricultural production, with strong dependence on their natural resources. Even with production ongoing, areas like these are usually not developed unlike the urban areas even the equipments and tools used are still archaic.
    f. Widespread poverty: There is evidence of poverty in such countries which can be seen in the low GDP per capita as well as the poor management of the available resources which causes the inability to fully utilize those resources.
    g. Prevalence of Imperfect markets: Due to lack of resources, the market for goods and services can have the presence of unhealthy monopoly, oligopoly, duopoly e.t.c all of who try to collude so as to control the little available resources leading to inefficient allocation of resources.
    h. Substantial dependence on agricultural production and primary product exports: Developing nations mostly concentrate their exports on a small number of exports that lacks the ability to stabilise or even boost the economy but they still remain dependent on it, those exports are usually agricultural products that even lack growth or expansion in the industry for mass production.
    i. Dependence and Vulnerability: Developing nations depend highly on borrowed finances that they become more unstable in the international markets. Even internally there are usually dominant cases of insecurities which affect the physical and mental health of the people thus greatly diminishing their productivity.
    j. Distorted and highly dependent economies devoted to producing primary products for the developed world and to provide markets for their finished goods: Developing countries have the notion that the best market for their primary products are the developed nations and so become highly dependent on this market to the extent that any small flunctuations in these developed countries bring a large distortion in their economy. Also, they are very much eager to promote the developed nations finished goods in their markets disregarding their own products as lacking in quality or not foreign which further destroys local and infant industries along with their goods.

    4. As a budding economist, I strongly disagree with the notion that poverty has the face of a woman, Although this statement was due to the assumption that a woman contribute to poverty due to her ability in child bearing which raises the population levels and subsequently when the resources are unable to satisfy the rising population, poverty sets in. However, one should not be so ignorant as to not see the benefits child bearing brings if controlled properly. In this regard, imagine a country low on population, it would inardently affect their work force which will bring a decline in economic growth due to the resources not being efficiently utilized so it is a matter of over consumption and under consumption.
    Additionally, In the aspect of economic development women contribute greatly to it by ensuring long term stability and progress as caretakers and teachers at the most basic unit which is the family as the saying goes “Charity begins at home”, this means all values are gotten at home and this values or morals serve as a stable foundation for a country as well as reduce the crime rate. Recently, the population of women have grown larger compared that of men so it can be seen that their contribution to the labour market cannot be overemphasized.
    There are also notable women down great things economically, socially, politically, and even intellectually. Dating back to when Mary Slessor stopped the killing of twins, to Queen Amina of Zarra, the Warrior queen who waged military campaigns to expand her territory, down to Magaret Ekpo, who was a renowned activist and also stopped the killing at Enugu coal mine, she also established an International airport in Calabar in 2001, further down we also have Sarah Jibril, the very first female Nigerian presidential candidate in 1972, however she lost to Olusegun Obasanjo. Even till the present Ngozi Okonjo Iweala, who is the first female African director-general of the World Trade Organization(WTO) in 2021 , notwithstanding, the list goes on which only add to prove the fact that women are industrious, flowing with ability and can do more than their opposing gender if the gap of gender inequality is eradicated, so the question of whose face poverty has is definitely not one a woman should answer to. This prompts me to ask the question, “are there not women in all the developed nations of the world?” and “are those nations not thriving?”, so when is it the men’s turn to put the blame on women and by so doing cover up their failures or issues. Poverty is an issue created by many factors and one gender is not enough for such a burden so no, poverty does not have the face of a woman.

  69. AMATU JENNIFER CHIKAODI says:

    NAME: AMATU JENNIFER CHIKAODI
    REG NO:2019/249035
    DEPARTMENT: ECONOMICS

    Q1. As a result of decolonization, the UN at first numerically dominated by Europe communities and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, through the essentially academic debate. Despite that debate, the unity of the third world remain hypotheticallybpressed mainly from the platforms of international conference.
    Q2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.
    The criteria by UN takes into consideration of development indicators like Human development Index(HDI),and Human poverty Index (HPI). According to UN,Countries with high HDI are developed while countries with low HDI are less developed. Also,countries with low HPI are developed,while countries with high HPI are less developed.
    Q3. Low level of living: this simply means that a segment of the population of a country does not have adequate access to much wealth and basic services and amenities necessary for living, lack of food, shelter, clothing etc.
    Low levels of productivity: this means that resources are not being used to their highest and fulest capacity, that is they are not utilizing their skills and competences to their maximum potential which in turn increases a company’s resources costs.
    High rate of population growth: this occurs when the population of an economy or country exceeds the available resources to sustain and neet the basic need of the citizens in that economy.
    Traditional and rural social structure: traditional structures can hinder development due to lack of urbanization and acceptance of new innovations and ideas for the improvement of that particular region or economy.
    Wide spread poverty: this occurs when most regions in an economy are extremely poor occuring in most individuals. This state of poverty reduces the level of living making life extremely hard and un sustainable for individuals in those regions of the economy.
    Substancial dependence on agriculture: this implies to over dependence on agriculture mainly for consumption and not for commercial purposes. Even exporting of only agricultural products can limit a country’s development.
    Feeding the government: when the government extorts its citizens and uses the money for their own personal gain it leads to under development. Not meeting the need of the people by providing good roads, jobs, Infrastructure etc, leading to low level of living in the lives of the individuals in the economy.
    Increase in unemployment: this occurs when the number of youths in the economy are without jobs, this may lead to increase in crime thus hinders Development in that economy.

  70. Omeje Philomena oluchukwu says:

    NAME: OMEJE PHILOMENA OLUCHUKWU
    DEPT: SOCIAL SCIENCE EDUCATION ( ECONOMICS)
    REG NO: 2019/243750
    ASSIGNMENT ON ECO 361
    Answers
    1. During the Cold War, unaligned countries of the Third World were seen as potential allies by both the First and Second World. Therefore, the United States and the Soviet Union went to great lengths to establish connections in these countries by offering economic and military support to gain strategically located alliances (e.g., the United States in Vietnam or the Soviet Union in Cuba).
    By the end of the Cold War, many Third World countries had adopted capitalist or communist economic models and continued to receive support from the side they had chosen.
    Throughout the Cold War and beyond, the countries of the Third World have been the priority recipients of Western foreign aid and the focus of economic development through mainstream theories such as modernization theory and dependency theory. By the end of the 1960s, the idea of the Third World came to represent countries in Africa, Asia, and Latin America that were considered underdeveloped by the West based on a variety of characteristics (low economic development, low life expectancy, high rates of poverty and disease, etc.).
    These countries became the targets for aid and support from governments, NGOs and individuals from wealthier nations. One popular model, known as Rostow’s stages of growth, argued that development took place in 5 stages (Traditional Society; Pre- conditions for Take- off; Take-off; Drive to Maturity; Age of High Mass Consumption).
    W. W. Rostow argued that Take-off was the critical stage that the Third World was missing or struggling with. Thus, foreign aid was needed to help kick star industrialization and economic growth in these countries.

    2. An increasing GDP is often seen as a measure of welfare and economic success. However, it fails to account for the multi-dimensional nature of development or the inherent short-comings of capitalism, which tends to concentrate income and, thus, power make a case for using alternate measures of development such as the Social Progress Index.
    “Development can be seen as a process of expanding the real freedoms that people enjoy.” Amartya Sen Economic growth assesses the expansion of a country’s economy. Today, it is most popularly measured by policymaker and academics alike by increasing gross domestic product, or GDP.
    This indicator estimates the value added in a country which is the total value of all goods and services produced in a country minus the value of the goods and services needed to produce them. It is common to divide this indicator by a country’s population to better gauge how productive and developed an economy is – the GDP per capita.
    Today, the predominance of GDP as a measure of economic growth is partly because it is easier to quantify the production of goods and services than a multi-dimensional index can measure other welfare achievements. Precisely because of this, GDP is not, on its own, an adequate gauge of a country’s development.
    Development is a multi-dimensional concept, which includes not only an economic dimension, but also involves social, environmental, and emotional dimensions.Towards inclusive and sustainable growth One of the limitations of GDP is that it only addresses average income, failing to reflect how most people actually live or who benefits from economic growth.
    Thomas Piketty (2014) presents a two-fold theory on how the wealth of a society becomes more concentrated and why this is counterproductive to development.
    Alternate measures:
    The Human Development Index
    One expanded indicator, which attempts to measure the multi-dimensional aspect of development, is the Human Development Index(HDI), conceived by the United Nations Development Programme (UNDP). which is better suited to track the progress, not only of rich, but also of poor nations.
    It incorporates the traditional approach to measuring economic growth, as well as education and health, which are crucial variables in determining how developed a society is. This is calculated through a geometric mean of
    The Human Capital Index
    The World Bank launched the Human Capital Index (HCI). This newly created index ranks 157 countries’ performances on a set of four health and education indicators according to an estimate of the economic productivity lost due to poor social outcomes.
    The main benefit is that it focuses on outcomes, rather on inputs,. For example, educational quality as measured by actual adjusted learning is weighted more appropriately against years of schooling. The main development (health, education, social security, etc.), which the World Bank argues have been forgotten at the expense of infrastructure and institutional development.
    The Social Progress Index:
    There is arguably a better way of measuring societal development: the SPI. The SPI was developed by the non-profit, Social Progress Imperative. It is one of the outcomes of the Commission on the Measurement of Economic Performance and Social Progress. The main objective of the Commission was to investigate how the wealth and social development of countries could be measured beyond the uni-dimensional GDP measure.
    It is still a relatively new indicator, with data only for four years, however it covers a wide span of more than 130 countries.The SPI is a refinement of the HDI because it expands the number of composite indicators from only four to fifty-four in a wide array of areas, including basic human needs, foundations of well-being, and opportunities to progress.
    Therefore, this index is capable of synthesising the most relevant aspects that determine development. For example, access to water and sanitation, educational and health outcomes, public criminality, housing, access to information, and communication.
    3. .A developing economy also called a less developed economy or underdeveloped country is a nation with an underdeveloped industrial base, and a low Human Development Index (HDI) relative to other countries. According to the UN, a developing country is a country with a relatively low standard of living, undeveloped industrial base, and moderate to low Human Development Index (HDI). This index is a comparative measure of poverty, literacy, education, life expectancy, and other factors for countries worldwide. Developing countries have the following characteristics:
    i.Mass Poverty
    Most individuals in developing nations have been suffering from the problem of poverty. They hardly boost of three square meal a day. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    ii.The Problem of Unemployment and Underemployment
    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

    iii. Excessive Dependence on Agriculture
    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    iv. Lower Productivity
    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lowerproductivity in developing nations.
    V. High Consumption and Low Saving: In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

    Vi. Income per year which tends to be low. Annual income in developing countries is not as high as in developed countries due to the high unemployment rate.
    Vii.Security Not Guaranteed. Unlike in developed countries, security in developing countries is still very minimal and inappropriate. Therefore, crime rates in developed countries are still relatively high.
    Viii. Minimal Health Facilities. Health facilities in developing countries are also relatively minimal. The lack of proper health facilities makes the population in developing countries more vulnerable to disease. Therefore, the mortality rate in developing countries is also greater than the mortality rate in developed countries, which then results in a low life expectancy.
    The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion.. These countries are affected more severely by the economic crisis .

    4. Yes, it is true that poverty has the face of a woman.Globally, poverty remains a challenge: the World Bank estimates that 1.29 billion people live in absolute poverty; the sad fact is that about 70 per cent of them are women., it isn’t even possible to gauge the correct picture. Poverty is difficult to quantify: the methodology used by the government has been challenged by the World Bank and the UNDP. It is no surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.
    It is no surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.
    The current political situation prevailing in the country presents a mixed picture for women’s progress and development. On the one hand, there are several forward- looking laws and amendments, widespread provision of safety nets like the Benazir Income Support Programme and increased school enrolment for girls. On the other hand is the snail’s pace at which the bureaucracy moves to implement those laws. Then again, there’s society’s stubbornly ‘eyes shut’ attitude to women’s rights and progress, the lack of recognition that women’s progress requires an acceptance of their constitutionally guaranteed equal status as citizens of this country.
    If women are to progress and participate effectively in the economy, they must receive equal education, equal training, in rural and urban sectors and equal dignity and income. A country cannot achieve progress on the efforts of less than half its population.

  71. OFFOR UGOCHUKWU IKENNA says:

    Name: OFFOR UGOCHUKWU IKENNA
    Reg no: 2019/245050
    Email: ugosagacious@gmail.com
    1).Low level of capital formation: The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
    Low per Capita income: The low levels of per capita income and poverty in developing countries is due to low levels of productivity in various fields of production. The low levels of productivity in the developing economies has been caused by dominance of low-productivity agriculture and informal sectors in their economies, low levels of capital formation – both physical and human (education, health), lack of technological progress, rapid population growth which are in fact the very characteristics of the underdeveloped nature of the developing economies.
    Overdependence on Agriculture: A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone. This excessive dependence on agriculture is the result of low productivity and backwardness of their agriculture and lack of modern industrial growth.
    2). Yes, Poverty has a woman’s face.Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.

  72. UGWUANYI NKEONYE LAUREL says:

    UGWUANYI NKEONYE LAUREL
    2019/243315
    ECONOMICS MAJOR

    1) Two nations whose social and economic systems were sharply opposed-china and india-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and industrial countries, capitalist and communist.
    ANSWER
    As a result of independence movement, the United Nations, was gradually transformed into a third world forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and Sri Lanka discussed peace, role of the Third World, economic development, and decolonization process. They tried to chart out a diplomatic course as neutrals or ‗non-aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based on the principles of political self-determination, mutual respect for sovereignty, non-aggression, non-interference in internal affairs, and equality. Conference paved way for the emergence of third world free from evils of capitalism and communism.
    Thus, the concept of the ‗Third World‘ was born. Communist China was one of the countries participating as the Third World Country rather than the Russian Soviet orbit. The 1955 Bandung Conference was the first attempt at the creation and establishment of a third force in global politics. The term Third World was adopted to refer to a self-defining group of non-aligned states. The Bandung Conference played an important role in mobilizing the counter-hegemonic forces to be known as the Third World. There were other priority areas as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via the United Nation .The conference also emphasis on the issues of increased cultural and technical cooperation between African and Asian governments along with the establishment for an economic development fund .It also raised its voice for the required support for human rights and the self-determinations of peoples and nations by the world community and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind of perspective the international politics marked the emergence of a non-aligned bloc from the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the ―Bandung spirit is not ‗detachment‘ from the powerful Western countries, but non-aligned self-helped ‗organization against‘ the powerful countries

    2) Traditionally, Developing countries are defined according to their gross national income (GNI) per capita per year. However, the united nations, world bank and other bretton woods institutions have developed many other criteria and indicators for measuring development and under development.
    ANSWER
    The World Bank promotes long-term economic development and poverty reduction by providing technical and financial support to help countries implement reforms or projects, such as building schools, providing water and electricity, fighting disease, and protecting the environment. World Bank assistance is generally long-term and is funded by member country contributions and by issuing bonds. World Bank staff are often specialists on specific issues, such as climate, or sectors, such as education. The IMF promotes global macroeconomic and financial stability and provides policy advice and capacity development support to help countries build and maintain strong economies. The IMF provides short- and medium-term loans to help countries that are experiencing balance of payments problems and difficulty meeting international payment obligations. IMF loans are funded mainly by quota contributions from its members. IMF staff are primarily economists with wide experience in macroeconomic and financial policies. During the Annual Meetings of the Boards of Governors of the IMF and the World Bank, Governors present their countries views on current issues in international economics and finance and decide how to respond to them. A group of IMF and World Bank Governors also sit on the Development Committee that advises the two institutions on promoting economic development in low-income countries. The Managing Director of the IMF and the President of the World Bank meet regularly to consult on major issues. They issue joint statements, occasionally write joint articles, and may visit regions and countries together. The First Deputy Managing Director of the IMF and the World Bank Managing Director of Operations also hold regular meetings to discuss country and policy issues. IMF and Bank staffs collaborate closely on country assistance and policy issues that are relevant for both institutions. IMF assessments of a country’s general economic situation and policies inform the World Bank’s assessments of potential development projects or reforms. Similarly, World Bank advice on structural and sectoral reforms informs IMF policy advice. The staffs of the two institutions also cooperate in specifying the policy components in their respective lending programs.

    3) Clearly discuss and analysis the common characteristic of developing nations.
    ANSWER
    I) Low Per Capita Real Income
    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    II) Mass Poverty
    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    III) Rapid Population Growth
    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

    IV) The Problem of Unemployment and Underemployment
    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

    V) Excessive Dependence on Agriculture
    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    VI) Technological Backwardness
    The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

    VII) Dualistic Economy
    Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

    VIII) Lack of Infrastructures
    Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

    IX) Lower Productivity
    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

    X) High Consumption and Low Saving
    In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
    The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore.

    4) it has been argued that poverty has the face of a woman. As a budding economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
    ANSWER
    YES
    Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship, say MEPs in a non binding resolution adopted on Tuesday. Two other resolutions look at measures to combat gender stereotyping in the EU and to protect women’s rights in North Africa.
    “Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. Today, with the effects of austerity policies, they are suffering a double punishment.
    Parliament points out that cuts in education, childcare and care services have pushed women to work shorter hours or part-time, thereby reducing not only their income but their pensions as well. Invest in women MEPs say that to restore growth and to reverse the effects of the crisis, member states must invest in lifelong training, re-skilling policies, teleworking and new jobs, promote female entrepreneurship and develop child-care facilities. They must also include women in decision-making and promote gender balance on company boards.
    The resolution on the impact of the crisis on gender equality and women’s rights was passed by 495 votes to 96, with 69 abstentions. Fighting gender stereotypes Gender stereotypes also contribute to the feminisation of poverty, say MEPs. They persist in the labour market in sectors such as engineering and childcare, leading to occupational segregation and the gender pay gap. The lower pay increase the risk for women to fall into poverty, particularly for older women, also due to low pensions.
    The EP calls on the Commission and the member states to use EU programmes, such as the European Social Fund, to get more women into professions where they are under-represented and to guarantee equal pay for equal work.
    “This is a strong and unequivocal signal of solidarity and support to women who are fighting in North Africa for freedom, democracy and universal human rights of men and women against all forms of discrimination and violence. As they explained, for them it is the same battle. We need to support and accompany this difficult transition and ensure their rights are recognised and protected in the constitution and in the legislation.

  73. OKORO OLUCHI RUTH (2019/241597) says:

    OKORO OLUCHI RUTH (2019/241597)
    ECONOMICS DEPARTMENT

    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.

    Answer:
    China and India are two of the largest and most populous countries in the world, and their political and economic systems have been quite different. China is a communist country, with a government-controlled economy, while India is a democratic country with a mixed economy. Despite these differences, both China and India have played significant roles in the political emergence of third world countries and in changing the relationship between the third world and the industrialized countries.
    One of the ways in which China and India have promoted the political emergence of third world countries is through their participation in international organizations such as the Non-Aligned Movement and the G-77. These organizations have provided a platform for third world countries to assert their political and economic independence and to challenge the dominance of industrialized countries.
    Both China and India have also played key roles in economic development in the third world through their trade and investment. China has become one of the largest trading partners of many third world countries, while India has been a major provider of technical assistance and investment. These economic ties have helped to boost economic growth and development in the third world.
    Additionally, the two countries have different foreign policy approach, China has been more assertive in terms of its relations with other countries and has sought to expand its influence and power through economic, military, and diplomatic means, whereas India has traditionally followed a non-aligned foreign policy and has sought to maintain good relations with all countries. This difference in foreign policy has also had an impact on the relations between the third world and the industrialized countries.
    Overall, while China and India have different economic and political systems, they have both played important roles in promoting the political emergence of third world countries and in changing the relationship between the third world and the industrialized countries.

    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.

    Answer:
    Traditionally, developing countries are defined according to their Gross National Income (GNI) per capita per year. Countries with a low GNI per capita are considered to be developing or underdeveloped. However, as the concept of development has become more complex and multifaceted, the United Nations, World Bank, and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and underdevelopment.
    One of the main alternative indicators used to measure development is the Human Development Index (HDI). The HDI is a composite measure that takes into account three key dimensions of human development: health, education, and standard of living. It provides a more comprehensive picture of a country’s level of development than just income alone.
    Another important indicator is the Multidimensional Poverty Index (MPI). It captures the acute deprivations that people experience across multiple dimensions of their lives, such as health, education, living standards and standard of living.
    The Gender Development Index (GDI) and Gender Empowerment Measure (GEM) are indicators that specifically focus on gender inequality and how it relates to development. GDI measures differences in achievements in three basic dimensions of human development between females and males, while GEM measures the relative empowerment of women in a society based on economic, political and social indicators.
    The Sustainable Development Goals (SDGs) adopted by United Nations in 2015, also provide a comprehensive set of indicators to measure progress towards sustainable development. The SDGs include 17 goals and 169 targets that cover a range of economic, social, and environmental issues, such as poverty, hunger, health, education, and climate change, and provides a holistic view of development.
    In conclusion, while Gross National Income (GNI) per capita is still an important indicator of a country’s level of development, it is not the only one. Other indicators such as HDI, MPI, GDI, GEM and SDGs provide a more comprehensive view of a country’s development and underdevelopment and are increasingly being used by the United Nations, World Bank, and other Bretton Woods Institutions to measure and understand the complex phenomenon of development.

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.

    Answer:
    Developing nations, also known as less developed countries (LDCs), are characterized by a range of economic, social, and political factors that distinguish them from developed nations. Some of the common characteristics of developing nations include:
    Low levels of economic development: Developing nations generally have lower levels of gross domestic product (GDP) per capita, lower levels of industrialization, and a higher dependence on agriculture and primary industries. They also tend to have weaker and less diversified economies, and are more vulnerable to external economic shocks.
    High levels of poverty and inequality: Developing nations tend to have higher poverty rates, and a larger proportion of their population living below the poverty line. Income and wealth inequality is also typically higher in developing nations, with a small proportion of the population controlling a large share of the country’s wealth.
    Low levels of human development: Developing nations tend to have lower levels of human development, as measured by indicators such as life expectancy, literacy rates, and access to healthcare and education.
    High levels of population growth: Developing nations tend to have higher population growth rates, which can put pressure on resources and infrastructure, and limit economic growth.
    Political instability and weak governance: Developing nations tend to have weaker and less stable political systems, with higher levels of corruption and a lack of accountable institutions. This can lead to a lack of effective governance, which can impede economic and social development.
    Environmental degradation: Developing nations are more vulnerable to environmental degradation and natural disasters due to factors such as poverty, weak governance, and a lack of resources for environmental protection.
    Dependence on foreign aid: Developing nations tend to be more dependent on foreign aid for economic and social development, which can make them more vulnerable to the changing priorities of donor countries.
    Lack of access to technology and innovation: Developing nations tend to have less access to technology and innovation, which can limit their ability to compete in the global economy and improve their standard of living.:

    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If no, why?

    Answer:
    Yes.
    According to Tahira Abdullah, “Poverty has a woman’s face.”
    Women tend to have lower income and higher poverty rates than men. This is due to a number of factors such as the gender pay gap, lack of access to secure and well-paying jobs, and the disproportionate burden of caregiving responsibilities.
    Research and data have consistently shown that women are more likely to live in poverty than men. For example, a report by the World Bank found that in developing countries, women are more likely than men to be living in extreme poverty, with 70% of the world’s poorest people being women.
    Women are also more likely to be affected by poverty in different ways, such as experiencing food insecurity, lack of access to healthcare, and being at risk of domestic violence and other forms of gender-based violence.

  74. Ojomah Favour Onyekachukwu says:

    NAME: OJOMAH FAVOUR ONYEKACHUKWU
    REG NUMBER: 2019/244245
    DEPARTMENT: ECONOMICS
    COURSE CODE: 361
    COURSE TITTLE: DEVELOPMENT ECONOMICS 1
    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
    China and India are two of the largest and most populous countries in the world, and their political and economic systems have been sharply opposed throughout much of the 20th century. China adopted a communist system of government and state-controlled economy following the Chinese Revolution in 1949, while India adopted a democratic system of government and mixed economy after gaining independence from British colonial rule in 1947.
    Both countries played a major role in promoting the political emergence of third-world countries in the post-World War II period. China and India were among the founders of the Non-Aligned Movement, which was established in 1955 and brought together newly independent countries from Africa, Asia, and Latin America. This movement sought to promote political and economic independence from the major world powers and to build a more equitable and just international order.
    China and India also played a role in changing the relations between the third world and the industrial countries, capitalist and Communist. China’s communist revolution and its subsequent economic growth, which was based on state-owned enterprises, provided an alternative development model for many third-world countries, particularly in Africa and Asia. India, on the other hand, with a mixed economy and its democratic system, provided an alternative model of development based on a mixed economy, which relied on private and public sectors and decentralized planning.
    The emergence of China and India as major economic powers in the 21st century has also had a significant impact on the global economy and the relations between developed and developing countries. Their growing economic influence has challenged the traditional dominance of the industrialized countries and has led to a shift in the balance of power in the international system.
    In conclusion, China and India, with their different political and economic systems, played a major role in promoting the political emergence of the tthird-worldcountries and in changing the relation between the third world and the industrial countries, capitalist and Communist. They provided different models of development for the third world countries and challenged the traditional dominance of the industrialized countries, which led to a shift in the balance of power in the international system
    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank, and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and underdevelopment.
    Yes, that is correct. Gross National Income (GNI) per capita is one of the traditional ways of defining and measuring the level of development of a country. However, it is not the only indicator used by organizations such as the United Nations and World Bank to measure development and underdevelopment.
    Other indicators and criteria commonly used include:
    1. Human Development Index (HDI): This index, developed by the United Nations Development Programme, measures a country’s development based on three factors: life expectancy, education, and standard of living.
    2. Multidimensional Poverty Index (MPI): This index, developed by the Oxford Poverty and Human Development Initiative, measures poverty based on 10 indicators of education, health, and living standards.
    3. Gender Development Index (GDI): This index, also developed by UNDP, measures gender inequality in terms of access to education and healthcare, as well as economic activity and political representation.
    4. Gini coefficient: This measure of income inequality, ranges from 0 to 1, with 0 indicating perfect equality and 1 indicating perfect inequality.
    5. Poverty headcount ratio: This measure of poverty calculates the percentage of the population living below a certain poverty line.
    6. Access to basic services: This measure looks at access to services such as education, healthcare, clean water, and sanitation.
    7. Economic growth: This measure looks at the rate of economic growth in a country, which can indicate whether a country is developing or not.
    8. Infant Mortality rate: This measures the number of deaths of infants under one year of age per 1,000 live births in a given year.
    9. Life expectancy: This measure looks at the average number of years a person can expect to live.
    10. Access to finance and credit: This measure looks at the availability of financial services such as banking and credit, which can help individuals and businesses invest in their own development.
    These indicators and criteria are not mutually exclusive and are often used in combination to provide a more comprehensive understanding of a country’s development status.
    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
    1. Low-income levels: Developing nations typically have lower per capita income levels than developed countries. This means that individuals in these countries have less money to spend on necessities such as food, housing, and healthcare.
    2. High poverty rates: Due to low-income levels, many people in developing nations live in poverty. This can be defined as not having enough resources to meet basic needs, such as food, shelter, and healthcare.
    3. High unemployment or underemployment: Developing nations often have high rates of unemployment or underemployment, which means that many people are not able to find work or have jobs that do not fully utilize their skills or pay enough to meet their needs.
    4. Limited access to education and healthcare: Developing nations often have limited access to education and healthcare, which can make it difficult for people to improve their living standards or access the services they need to stay healthy.
    5. Dependence on primary goods exports: Developing nations often depend heavily on exporting primary goods such as raw materials and agricultural products, which can be subject to price volatility and can limit economic growth potential.
    6. Political instability: Developing nations often experience political instability, which can make it difficult for governments to provide basic services and create an environment conducive to economic growth.
    7. High population growth: Developing nations often have high population growth rates, which can make it difficult to provide enough jobs, housing, and other resources to meet the needs of a growing population.
    8. Environmental degradation: Developing nations often have fewer resources to invest in environmental protection and may experience high levels of environmental degradation as a result of economic activities.
    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
    The statement “poverty has the face of a woman” suggests that women are disproportionately affected by poverty. This is supported by data and research, which show that women are more likely to live in poverty than men and that poverty has a greater impact on women than on men.
    One reason for this is that women often have less access to education and job opportunities than men, which can limit their earning potential and make it more difficult for them to escape poverty. Additionally, women are often responsible for caring for children and other dependents, which can make it difficult for them to work or seek education.
    Another reason is that women are more likely to be in informal sector, where they are not protected by labor laws and have less access to benefits such as healthcare and paid leave.
    Additionally, gender discrimination and bias can prevent women from fully participating in the economy and accessing the same opportunities as men. This is particularly true for women from marginalized communities, who may face multiple forms of discrimination based on factors such as race, ethnicity, and class.
    In conclusion, I agree that poverty has the face of a woman. Women are disproportionately affected by poverty, and there are several factors that contribute to this, including lack of access to education and job opportunities, caregiving responsibilities, and discrimination and bias

  75. Onu Chinecherem Excellence says:

    Name: Onu Chinecherem Excellence
    Reg. No. 2019/241446
    Dept. Economics

    Assignment on Eco 361
    1. Two Nations whose social and economic system were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
    Answer: China operated the socialist market economy, which acts as the model for it’s economic development. It is majorly public owned or state owned enterprises. One of the ways through which China played a great role is the adoption of working fiscal policy or revenue distribution which goes top-down along the administrative hierachy in China : the central, provincial, prefectual country and township government are the last to enjoy the defacto power to make development blueprint.
    China Fiscal system has experienced three large rounds of development of which all of the concentrated on the revenue sharing arrangement. It adopted an open-door policy which created a stance to achieve economic growth through active introduction of foriegn capital and technology while maintaining it’s commitment to socialism. They also established a number of areas for Foreign Investment
    Also, inflow of foreign capital, technology, and management knowhow enabled China to turn its vast labor resources and space to rapid economic growth. The shift to an open-door economic policy ushered in a period of high economic growth in the first half of the 1980s. The economy stagnated around the time of the Tiananmen Square Incident in 1989, but in the first half of the 1990s, China was again boasting high growth rates. Rapid economic growth was accompanied by a rise in per capita GDP. The economy of India has transitioned from a mixed planned economy to a mixed middle-income developing social market economy with notable state participation in strategic sectors. It is the world’s fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP).
    Using China and India as a case study, the state has a great role to play in the production, management and efficient allocation of resourses which has to start firstly with efficient utilization of naturally endowed resources which attracts foreign investors and leads to economic boom.
    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
    Answer:The indicators and crietria for measuring development and underdevelopment as mapped out by the United Nations, World Bank and Other Bretton World Institution are as follows: UNDP’s country classification system is calculated from the Human Development Index (HDI),which aims to take into account the multifaceted nature of development. HDI is a composite index of three indices measuring countries achievement in longetivity, education and income. It also recognizes other aspects of development such as political freedom and personal security. The 2013 report which follows on from the 2010 report used the Gross National Income per capita (GNI/n) with local currency estimates converted into equivalent US dollars. It also uses equal country weights to construct the HDI distribution. In the classification system, developed countries are countries in the top quartile of the HDI distribution. Developing countries consists of countries in the high group (HDI percentiles 51-75), medium group (HDI percentiles 26-50), and the low group with bottom quartile HDI. Currently, 47 countries out of 186 compared.
    To identify high HDI achievers and consequently developed countries, the UNDP used a number of factors. One way is is to look at countries with positive income growth and good performance on measures of health and education relative to other countries at comparable levels of development. Another way is to look for countries that have been more successful in closing the “human development gap,” as measured by the reduction in their HDI shortfall (the distance from the maximum HDI.
    The World Bank’s Country Classification Systems
    The classification tables include all World Bank members, plus all other economies with populations of more than 30,000. The World Bank’s classification of the world’s economies is based on estimates of gross national income (GNI) per capita. Previous World Bank publications might have referred to this as gross national product, or GNP. The GNI is gross national income converted to international dollars using purchasing power parity rates. The GNI per capital is also used as input to the Bank’s operational classification of economies, which determines their lending eligibility. The most current World Bank Income classifications by GNI per capita (updated July 1 of every year) are as follows:
    Low income: $1,025 or less
    Lower middle income: $1,026 to $4,035
    Upper middle income: $4,036 to $12,475
    High income: $12,476 or more
    Low- and middle-income economies are usually referred to as developing economies, and the Upper Middle Income and the High Income are referred to as Developed Countries.
    The World Bank adds that the term is used for convenience; ‘it is not intended to imply that all economies in the developing group are experiencing similar development or that other economies in the developed group have reached a preferred or final stage of development’.
    The IMF’s Country Classification Systems
    The main criteria used by the IMF in country classification are i) per capita income level ii) export diversification iii) degree of integration into the global financial system. The IMF uses either sums or weighted averages of data for individual countries.
    3. Clearly discuss and analyze the common characteristics of developing Nations.
    Answer:
    Low productivity:the level of outcomes or productivity in a developing is usually very low as a result of inadequate implements, low level of manpower, lake of incentives to work and also laziness.
    High rate of unemployment and underemplyment: Unemployment is global problem, but the rate at which poeple who are willing and able to work can’t find a well paying job is alrming in developing countries or those who are working are just working anywhere so as to put food on the table is on the increase in developing countries.
    High rate of poverty: the standard of living in developing countries are very low, making it’s citizens to live in abject povery such that meeting the basic requirements for living such as clothing, housing and shelther becomes a problem.
    Dependency and vulnerability: In most developing countries, the rate of dependency is high and citizens stands the risk of being open to risk or harm either physically or emotionally.
    Overdependence on Agriculture: It is in developing countries that subsistent farming is the major mode of production which does not provide for half of the teaming population.
    High rate of population increase and dependency burden: Increase in population is supposed this be a thing of great impact to any country but on the contrary when the resources need the to care for such population is not available it becomes a treat to the development of such Nation. So high rate of population increases dependency and it’s mostly a problem to developing nations.
    Underutilization of natural resources: Every Nation of the world is endowed with it’s own perculialities of which when harnessed properly will attract a higher development. But when this natural endowments are not properly harnessed and utilized development is hampared.
    Low level of human capital development: Human capital such as education health and skill is vital for evonomic development. Inhuman development index, we noted that there is a very big gap in human capital between developed and developing nations. The developing country lacks human capital which is responsible for low productivity. Less education and skill makes people to be less adptive to change and lowers their ability to organize and manage industries.
    Ttaditional, rural and social structures: most developing countries still have old structured buildings, bad roads, tatched houses everywhere and most of this rural areas will hold tenaciously to thier customs and tradition and tell the government that this is how this place has been since the days of our forefathers, roads can’t go through here because it is a shirine and many more of such. Things like this hinders development and keeps some countries very far from development.
    Overdependence on importation: Developing countries depend majorly on importation of almost everything needed for essential survival. Inport is always higher than export in the Balance Of Payment.
    4. It has been argued that poverty has the face of a woman. As a Budding Economist, clearly discuss and analyze the statement. Do you agree or disagree. If yes why? Or no why?
    Answer: poverty is basically the condition or state whereby someone does not have enough money to meet the basic needs such as food,clothing and shelter. Poverty can be both individual or societal problem.
    I AGREE TO THE STATEMENT. REASON: women are the ones that are affected by poverty most, this means that women are always at the receiving end of many danger. Economic crisis tends to hit women mostly because they are the ones that carry most prevalent family problem like caring for children, ensuring their safety so women can give up anything to see that the household is safe. Women are mostly discriminated and exposed to violence. Just as inequality creates a huge gap between the rich and the poor, same way women are been discriminated today with the notion that men are supposed to be at the top of affairs.
    Just as poor nations, women are mostly depressed, angry, hungry, frustrated, lonely and isolated, always trying to find something to eat. Women as the face of poverty results in children who are poor.

  76. Abasilim Chisom Judith says:

    Name: Abasilim Chisom Judith
    Reg no: 2019/249128
    Dept: Economics

    1 . As China’s growing global role and increasingly hardline policies at home and abroad gain attention, the United States and other Western governments are also taking notice of China’s expanding influence in developing countries. The implications of China’s growing investments linked to the Belt and Road Initiative (BRI), its ambitious global infrastructure and connectivity program, are increasingly debated. So, too, are the nature of Chinese Communist Party (CCP) efforts to popularize its authoritarian model and undermine developing democracies around the world, whether intentionally or indirectly.1 In November, Vice President Pence noted that the administration, through its Indo-Pacific strategy, intends to bolster the rule of law and human rights in regional countries facing growing influence from China.
    Such attention is welcome, and it has spurred numerous analyses on the drivers of China’s growing influence efforts, with most focused on external factors in benjing’s calculus China seeks influence due to many geostratrgic considerations such as the protection of sea lanes critical for the transport of energy and the establishment of military facilities to protect China’s growing global interests. However,  much of the foundation for China’s growing influence in developing countries is found inside China, where the CCP faces a mounting set of challenges to its rule that dominate its attention. As Washington considers how best to address China’s push for influence across the developing world, it is critical to have a clear understanding of the domestic imperatives at play.

    2 . Per capita income
    UN’s human development index
    UN’S human poverty index

    3. Low per capita real income

    The real per capita income of developing countries is very low as compared to developed countries. This implies that the average income or per person income of individuals in developing nations is little and not even sufficient to invest or save. Low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    High rate of poverty
    Most individuals in developing countries suffer from a vicious cycle of mass poverty. They are unable to cater for basic needs such as food, clothing and shelter. This is as a result of low per capita income, unemployment, illiteracy, mismanagement of public funds and so on.

    Unemployment and underemployment

    Unemployment and underemployment are common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries come up due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs.

    Excessive dependence on subsistence agriculture

    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. They depend on Agriculture as the only sole source of income and employment in such nations. Most of this countries don’t have efficient equipment to expand agriculture and even export agricultural produce to other countries.

    Low level of literacy
    In developing countries, there is low level of literacy. Which is one of the causes of unemployment. Even students are not properly taught in school due to lack of a conducive environment for learning and the required equipment to enhance education.

    Lack of infrastructure
    Developing countries lack proper infrastructure like good roads, transport system, good schools, proper sewage disposal and so on.

    Rapid population growth

    Developing countries have either a high population growth rate or a larger size of population.

    The higher child and infant mortality rates in such countries push people to give birth to more children. Lack of family planning education, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children.

    4 . Poverty has the face of a woman
    Globally, women are faced with the invisible burdens of gender inequality which are entrenched deeply within institutional structures and communities as a whole. These prejudices may limit a woman’s access to higher employment and assistance programs, ultimately leading to higher rates of poverty.

    In many developing countries, women are more likely to be denied an education, as nearly 25% of all girls have not completed primary school education and two-thirds of women make up the world’s illiteracy rate. In Somalia, for example, only 7% of girls are enrolled in primary school. The lack of education among women may result in higher pregnancy and poverty rates. According to the United Nations Girls’ Education Initiative, a girl’s education is a driving force in their economic well-being. Somalia suffers from one of the world’s worst educational systems and is one of the poorest countries as well, having a poverty rate of 73%. With education, females can increase their access to higher-paying jobs, and thus, benefit the family’s income., which results in a positive cycle for generations, bettering the economy overall.
    Women Are Paid Less
    Despite having the same qualifications and working the same hours, women are more likely to get paid less than men. Worldwide, women earn nearly 20% less than men. These variances within wages affect women in low-paying jobs and poorer countries dramatically. Closing the gender wage gap can result in overall equal income distribution. In the United States alone, closing the wage gap would mean that half the poverty rate working women and their families would be cut.

    Women and girls are disproportionately affected by poverty and many have little or no say in the decisions which affect their lives. They often get less food, receive less education, and are disproportionately affected by poor sanitation. Many have little or no money of their own which makes them dependent on others.
    This power imbalance also means they are often subject to sexual and physical violence, impacting on both their physical and mental health, and their overall wellbeing. This once again impacts on other areas of their lives, such as their ability to make a living.

  77. Ezurueme Ogechi says:

    Name: Ezurueme Ogechi
    Dept: Economics
    Reg No : 2019/251620

    QUESTION 1
    Research conducted for the purpose of contributing towards science by the systematic collection, interpretation and evaluation of data and is carried out in a planned manner is called scientific research. Scientific research is designed to meet the lack of knowledge, to compile and link things and concepts spread or mixed in understanding or application, or to achieve new scientific knowledge derived from the procedures and results of scientific research. Meanwhile, non scientific research is research conducted without any systematic methods and scientific basis. In non-scientific research, intuition, personal experience, and personal beliefs are used as techniques to reach a conclusion. Thus, conclusions in non-scientific research are basically based on personal thinking and presumption. The difference between scientific research and non-scientific research are:

    A. The key difference between scientific and non-scientific research is that scientific research can be repeated several times using the same methods and data, whereas non-scientific research cannot be repeated since it uses intuition, personal experience, and personal beliefs.

    B. Both scientific and non-scientific research studies vary from one another in their methods. Basically, scientific research uses a logical process in conducting the research, whereas non-scientific research uses techniques and strategies that do not contain a scientific base in acquiring knowledge.

    C. In scientific research, data is collected using different techniques such as observation, formulation, and testing hypotheses. On the other hand, in non-scientific research, data collection only uses observation.

    D. Scientific research is objective, while non-scientific research is subjective.

    E. Scientific research follows a logical and systematic process in arriving at a conclusion but, in non-scientific research, only the beliefs and expectations of people are considered in arriving at a conclusion.

    QUESTION 2
    The characteristics of scientific research includes:
    1. Empirical: A cardinal feature of a scientific research work is that it is empirical. Simply put, this means that it can be verifiable. Thus for a work to qualify as a scientific work, persons should be able to verify the truth or otherwise of the said research work. Thus with a knowledge of the materials and tools used by the original research and an understanding of the research procedure, any third party with the requisite knowledge should be able to verify the said research work.
    2. Objectivity: All scientific knowledge are objective as opposed to being subjective. This simply means that they are considered from the general perspective as opposed to being considered from the personal perspective. The purpose of a research work is usually to solve a problem or give explanation to a problem. This makes it very important for such work to be conducted from an objective point of view. Also, a work will get easily verified and serve the general public more easily when it is conducted objectively. A research work bearing and carrying the personal positions, feelings, untested ideas and idiosyncrasies of a researcher cannot thus qualify as a scientific research.
    3. Ethical: Science does not exist on an island of it’s own, but exists within the framework of the human environment. Thus true and acceptable science must in some ways, put into consideration the values, morals, and ethical considerations of the society. Any research work that gravely objects to key and fundamental tenets and beliefs of the society is greatly objected to and as such loses general acceptance. For instance, the sacred nature of life is a core value in the society, thus a research work that threatens this core principle will be stiffly objected to and would ordinarily lose its scientific flavour.
    4. Systematic Exploration: Scientific research require verification and the only way a scientific research can be verified is where there is a systematic exploration which can be repeated. This means that a key feature of a scientific research is that it follows some particular steps and procedures and if these steps and procedures are repeated by any other person within a specific condition, the same result can be attained. This is why scientific research normally involves well laid out steps and detailed introductory explanation on the conditions within which the research has been carried out. This systematic exploration mechanisms laid down allows for a detailed and accurate repetition of the research work and the materialization of a similar result.
    5. Reliable: It is a key feature of a research work qualified as scientific to be reliable. Reliable in this sense means that any other person may replicate similar results by following the systematic procedures laid down. If a research work cannot be relied upon by others and a similar result replicated, then it cannot be qualified as a scientific research. This is why there is a need for a systematic exploration in scientific research works so that these laid down steps can be easily followed and a similar result attained. It is only when this is present that such research work my be considered as being reliable by the majority of the public and also readily accepted.
    6. Accuracy: All scientific research works must have this all-important feature of being accurate. A research work usually lays down the goals at the beginning stage and the results aimed to achieve at the end. This end result must be attained a 100 percent. The precise nature of science increases the reliability of scientific research works. Science does not leave room for speculations and doubts as these may prove to be really costly in the long run. Any research work that does not show precision and exactitude cannot does qualify to be considered a scientific research work.
    7. Predictability: A good scientific research work should be predictable. This simply means that at the very early stages of the research work, a researcher should be able to predict the outcome. Due to the precise nature of science and scientific works, they are very easily predictable. Science does not allow for huge uncertainties and unknown variables. All unknown variables and uncertainties must therefore be eliminated so as to allow for a more predictable and reliable result.
    8. Replicated: A scientific work will be of little to no relevance of it cannot be replicated following a systematic exploration/ procedure laid down by the originator. The possibility of replicating a particular research work and attaining a result which is exact with the original research is what makes for the general acceptability of scientific works. The fact that a research conducted in a lab in Europe can be replicated in Africa and a similar result attained qualifies such research as being scientific. If after the due procedures and steps are followed, a similar result cannot be attained, then the research work cannot be termed scientific.
    9. Controlled: All scientific research works are usually examined under a controlled environment. This allows for specific variables to be known as the knowledge of these variables allow for ease of repeating the said research work. All of the controlled variables must be made known so that a person who wishes to carry on the research can do so and attain a very similar result.
    10. Objective/ Goal: Lastly, all scientific research works have a specific objective or goal as the end result in the mind of the researcher. Research are not just carried out without any objective or goal in mind. A research work is usually carried out with the aim of solving some world problems or making some new innovations. Thus, all scientific research must have a goal as the end product. This goal serves as the driving force for such research work.

    • Ezurueme Ogechi says:

      Name: Ezurueme Ogechi
      Dept: Economics
      Reg No. : 2019/251620
      Level: 300L

      QUESTION 1

      As a result of decolonization the United Nations at first dominated by the European countries and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency the problem of under-development then became the focus permanent although essentially academic, debate. Despite that debate the unity of the third word remains hypothetical expressed mainly from the platforms of international conferences.

      QUESTION 2

      1. HUMAN DEVELOPMENT INDEX: This measures a country’s average achievements in three basic dimensions of human development and they are life expectancy, educational attainment and adjusted real income ($PPP)

      2. UN’S HUMAN POVERTY INDEX (HPI): This measures the deprivation using percentage of people expected to die before 40, percentage of illiterate adults, percentage of people without access to health services and safe water and percentage of underweight children under 5.

      QUESTION 3

      A. Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

      B. Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

      C. Rapid Population Growth: Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

      D. The Problem of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

      E. Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

      F. Technological Backwardness: The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

      G. Lack of Infrastructures: Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

      H. Lower Productivity: In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

      I. High Consumption and Low Saving: In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

      QUESTION 4
      In my personal opinion the statement in itself “Poverty has the face of a woman” is vague as it does not clarify if women are causes of poverty in the society, if women face higher rate of poverty than men in the society, etc. Assuming the statement to mean that women are the causes of poverty, I do not think that one should put a face to the world’s disease, called poverty. Although at a very minimal rate, poverty is found even in the most developed countries of the world and as such should not be attributed to a woman. Moreover, this statement has not been scientifically proven to be true this I disagree with the statement.

  78. Anyanwu favour ebubechukwu 2019/245648 says:

    NAME: ANYANWU FAVOUR EBUBECHUKWU
    REG.NO:2019/245648
    COURSE: DEVELOPMENT ECONOMICS (ECO 361)
    ASSIGNMENT
    1.

    2i.Infant Mortality Rate
    ii.Life Expectancy
    iii.The Human Development Index (HDI)
    iv.Literacy Rate
    v.GNP per Capita
    vi.Birth and Death Rate
    3i. Wide Spread Poverty:Poverty is one characteristic of developing countries because most of the population struggle to meet up with their standard of living.And the population lives in abject poverty.
    Ii.Low level of productivity:Productivity rate in developing countries is very low due to fact that there’s a wide range of poverty and the population relies on their basic income and needs.
    iii. Reliance on agriculture and primary product exports:The majority of population in the developing countries are engaged in agriculture.Their only and main source of income relies solely on agriculture.
    iv.Rising population growth: Developing countries are characterized with high rate of population growth or by large population size.
    4.Yes i agree that “poverty has a face of a woman”.My reason is that women face the triple burden of child bearing,child rearing and domestic unpaid labour.They have been denied opportunities for growth are without access to adequate healthcare, education or income and simultaneously forced to live in the tight bind of culture.

  79. Amatu Jennifer chikaodi 2019/249035 says:

    NAME: AMATU JENNIFER CHIKAODI

    REG NO:2019/249035

    DEPARTMENT: ECONOMICS

    Q1. As a result of decolonization, the UN at first numerically dominated by Europe communities and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, through the essentially academic debate. Despite that debate, the unity of the third world remain hypotheticallybpressed mainly from the platforms of international conference.

    Q2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.

    The criteria by UN takes into consideration of development indicators like Human development Index(HDI),and Human poverty Index (HPI). According to UN,Countries with high HDI are developed while countries with low HDI are less developed. Also,countries with low HPI are developed,while countries with high HPI are less developed.

    Q3. Low level of living: this simply means that a segment of the population of a country does not have adequate access to much wealth and basic services and amenities necessary for living, lack of food, shelter, clothing etc.

    Low levels of productivity: this means that resources are not being used to their highest and fulest capacity, that is they are not utilizing their skills and competences to their maximum potential which in turn increases a company’s resources costs.

    High rate of population growth: this occurs when the population of an economy or country exceeds the available resources to sustain and neet the basic need of the citizens in that economy.

    Traditional and rural social structure: traditional structures can hinder development due to lack of urbanization and acceptance of new innovations and ideas for the improvement of that particular region or economy.

    Wide spread poverty: this occurs when most regions in an economy are extremely poor occuring in most individuals. This state of poverty reduces the level of living making life extremely hard and un sustainable for individuals in those regions of the economy.

    Substancial dependence on agriculture: this implies to over dependence on agriculture mainly for consumption and not for commercial purposes. Even exporting of only agricultural products can limit a country’s development.

    Feeding the government: when the government extorts its citizens and uses the money for their own personal gain it leads to under development. Not meeting the need of the people by providing good roads, jobs, Infrastructure etc, leading to low level of living in the lives of the individuals in the economy.

    Increase in unemployment: this occurs when the number of youths in the economy are without jobs, this may lead to increase in crime thus hinders Development in that economy.

    Q4. I agree with the argument ‘ Poverty has the face of a woman’. My reasons for agreeing to the argument are:

    Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.

    Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.

    , the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.

    The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.

    Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.

  80. ONYELEONU PRECIOUS OLUOMACHI says:

    ONYELEONU PRECIOUS OLUOMACHI
    REG NO: 2019/248162 DPTM: ECONOMICS
    ECO 361

    1.The Bandung conference in 1955 was the beginning of the political emergence of the third world. As a result of decolonization, the United Nations at first, numerically dominated by European countries and countries of European origin,was gradually transformed into something of the third world forum.. With increasing urgency,the problem of underdevelopment then became the focus of permanence, although essentially academic debate.Despite that debate,the unity of the third world remains hypothetical, expressed mainly from platforms of International conferences.

    .2. Although development can be measured through various forms,,the United Nation’s Human Development Index (HDI) measures development through the following dimensions.

    a) Life expectancy
    b) Educational Attainment
    c) Adjusted Real Income

    While that of Un’s Human Poverty Index (HPI) is measured by
    a) Percentage of people expected to die before age 40
    b). Percentage of illiterate adults
    c) Percentage of people without access to health services and safe water
    d) Percentage of underweight children under 5

    3. Some characteristics of a developing nation include:

    LOW PER CAPITA REAL INCOME
    Low per capita income is one of the most defining characteristics of developing economies. They suffer from low per capita income level, which results in low savings and low investments. It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty. ( the minimum income level) is high in developing countries.)

    HIGH POPULATION GROWTH RATE
    Another common characteristics of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in higher labor force for family to earn income. This increases in recent decades could be because of higher birth rates and reduced death rates through improved health care.

    HIGH RATES OF UNEMPLOYMENT
    In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.

    DEPENDENCE ON PRIMARY SECTOR
    Almost 75% of the population of low income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.

    GENERAL POVERTY LEVEL AND LOW LIVING STANDARD
    Poverty cannot be described, it can only be felt. The most of the less developed countries (LDC) are facing the major problem of general as well as absolute poverty and low standard of living. Most of the people in developing nations are ill-fed, ill-housed, ill-clothed and ill-literate.

    4. I’ll gladly oppose the motion that says,” Poverty has the face of a woman”
    This is because,,gone are the days when women are financially dependent.. Women of this generation are ever ready to legitly venture into a well-paying hustle,just to make money,,create wealth,,lessen the financial burdens on their makes counterparts and in general making a society a better place for all to live in..
    Education of women has helped in this aspect, because it helps create ideas and enlightenment women on the positive needs of being financially independent. With this,,there will be an eradication of labour-market discrimination and which will in turn increase their salaries..
    Finally,,women are proactive, persistent and creative and these are the sole features of wealth creators,and since they have these features plus their distinct ideas,, making money would be something so significant for them…

  81. Ogbonna Sandra Chinenye says:

    Name: Ogbonna Sandra Chinenye
    Reg No: 2019/245659
    Department: Economics

    1:The political landscape of other developing countries and the interaction between the third world and industrialized countries were significantly shaped by China and India, two big third world countries with radically different social and economic systems. The political and economic landscape of the world has been significantly impacted by both China and India, which are capitalist and communist countries, respectively. Due to their initiatives, a more aggressive third world has emerged, challenging the industrialized world’s hegemony and promoting greater economic and political independence for developing countries.

    2:This simply entails that developing nations have been classified based on their annual Gross National Income (GNI) per capita. To measure development and underdevelopment, the UN, World Bank, and other Bretton Woods Institutions have created a wide range of additional standards and metrics such as Gross domestic product (GDP),Human Development Index (HDI),Gender Development Index (GDI),Multidimensional Poverty Index (MPI),Poverty headcount ratio etc

    3:a:Low income: In comparison to industrialized countries, developing countries have lower per capita earnings. This indicates that the typical worker in a developing country makes less money than the typical worker in a developed country.

    b: High levels of poverty: Many people in emerging countries are impoverished as a result of poor incomes. Lack of access to basic requirements like food, clean water, and shelter is one way this can appear.

    c:High population growth: Developing nations often have high population growth rates, which can put strain on resources and infrastructure.

    d:High unemployment or underemployment: Developing nations often have high levels of unemployment or underemployment, which can contribute to poverty.

    e:Dependence on agriculture: Many developing nations are heavily dependent on agriculture for their livelihoods, which can make them vulnerable to fluctuations in commodity prices and weather patterns.

    4:Yes, I agree to the statement “poverty has the face of a woman” because this actually refers to the idea that women are disproportionately affected by poverty. This is true due to a variety of factors like discrimination and gender-based violence, lack of access to education and economic opportunities, unpaid care work, etc

  82. UBAZORO CHUKWUEMEKA GEORGE says:

    Name: Ubazoro Chukwuemeka George
    Reg no: 2019/251195
    Department: Economics
    China and India were countries which few decades ago were classified in the third world countries have emerged to become world powers. This rapid state of economic growth has increased their political might and increased their influence in the world. This growth has rendered positive benefits to third world countries in the form of loans, grants and aids.
    2) Some of the major indicators by the UN for measuring development and under development are:
    By using the Human Development Index (HDI) :
    Longetivity – measured by life expectancy
    Knowledge- measured by enrolment at primary, secondary and tertiary levels of education to give mean years of education.
    Standard of living – measured by the GDP per capita adjusted for PPP.
    3) Common characteristics of developing nations are:
    Mass poverty: Most individuals in developing nations suffer from the problem of poverty. They are unable to fulfill their basic needs.
    Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developing countries. The average income of developing nations is very little and is not sufficient to invest or save.
    Rapid Population growth: Developing nations have a high population growth rate or a larger size of population.
    The problem of unemployment and under-employment: The problem of unemployment and underemployment is emerged due to excessive dependency on agriculture, lack of workforce planning , lack of proper utilization of resources etc.
    Excessive dependence on agriculture: The majority of the population in developing nations are highly engaged in the agriculture sector, especially in rural areas.

    4) I disagree and I do not think that one should put a face to the world’s disease, called poverty. While it might be true that women are often are often on the forefront of poverty where men are presented to be the main income creator, it still doesen’t mean that one can connect this phenomenon with gender. Poverty is a dangerous phenomenon that doesn’t take into cognizance the gender that is being affected by it. It’s a universal phenomenon that affects everyone though gender inequality can be said to have put more women on the forefront of poverty. It still doesn’t mean that poverty has a woman’s face.

  83. Ikwuagwu Lucy Ogechi says:

    Development Economics
    Name: Ikwuagwu Lucy Ogechi
    Reg. No: 2019/245407
    Dep: Economics
    Email: lucyikwuagwu@gmail.com
    2. A. Human development index: this shows the level of human development a country has and it’s measured in very high human development, high human development, medium human development, low human development.
    B. GDP: this measures the total amount of goods and services produced in a country in a given year.
    3. A. Low levels of living: developing countries can be classified by the level of the citizens life. In developing countries the level of living can be terrible, with a large gap between the rich and the poor.
    B. Low levels of production: due to poor management of resources and resources and sometimes corruption, developing countries tend to have low levels of production.
    C. Traditional, rural social structure: the rural areas of developing countries and their urban areas are like night and day. Low to little signs of development, backward thinking, low medical facilities, lack of technology and innovation.
    4. I disagree, poverty doesn’t have the face of a woman. Men can look poor and desolate. In my own opinion, women have been associated with the image of poverty due to their meek nature or at least they are viewed to be meek and gentle, easily swept away by the destitutes of life, so the miserable image of poverty can be tagged to their face. Imagine a woman struggling to care for five or more children with no means of feeding them, managing the same clothes, carrying her market ware on her head, cooking on a firewood stove, etc. This miserable image is what they associate poverty with.

  84. Amushi Arinze Emmanuel says:

    Amushi Arinze Emmanuel
    2019/245697
    combined social science (economics/psychology)

    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
    answer
    Third World Countries
    The French demographer Alfred Sauvy brought into existence the statement “tiers monde” in french in the year 1952 by the analogy with the third estate.
    Sauvy stated that the third world is nothing and it wants to be something. the term means that the third world is exploited much as the third estate was exploited and like the third estate its destiny is a revolutionary one . it conveys as well as second idea also discussed by Sauvy that of non alignment for the third world belongs neither to the industrialized capitalists world nor the industrialized communist bloc.
    in 1956 a group of social scientists associated with sauvy’s national institute of demographic studies in Paris published a book called “tiers de monde”
    by the end of the 1950 the term was frequently employed in the french media to refer to the under developed countries of Asia, Africa, Oceania and Latin America.

    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
    answer
    The world bank now assigns the world’s economies into four different groups
    *Low
    *Lower-Middle
    *Upper-Middle
    *High income countries
    SDR(Special Drawing Rights)
    the SDR deflator is used to measure world inflation for annual adjustment to operational and analytical income threshold

    HDI( Human Development Interest)
    this shows the appreciable level of development of a country.

    GDP (Gross Domestic Product)
    the rate of goods produced locally In the country and also exported to other country states the stage of development of that country .

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
    answer
    criteria for measuring developing and under developed countries are below
    1. size and income level
    2. physical and Human resources
    3. High and rising levels of unemployment and under employment
    4. widespread Poverty
    5. High rate of population growth and dependency burden
    6. prevalence of imperfect markets
    7. substantial dependency on agricultural production and primary product export .

    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
    answer
    yes
    Women are facing a silent crisis which worsens and weakens their condition. Before the economic crisis unemployment, precarious work, part-time work, low salaries and slow career paths already affected women more then men. If women are to progress and participate effectively in the economy, they must receive equal education, equal training, in rural and urban sectors and equal dignity and income.Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.

  85. Abonyi Kosiso Sunday says:

    Name: Abonyi Kosiso Sunday
    Reg No: 2019/244009
    Department : Economics
    India and China are currently world powers, but they were a few decades third world countries. The rapid state of economic growth they experienced few decades ago has increased their political might and increased their influence in the world. This growth has rendered positive benefits to third world countries in the form of loans, grants and aids.
    2) Some of the major indicators by the UN for measuring development and under development are:
    By using the Human Development Index (HDI) :
    Longetivity – measured by life expectancy
    Knowledge- measured by enrolment at primary, secondary and tertiary levels of education to give mean years of education.
    Standard of living – measured by the GDP per capita adjusted for PPP.
    3) Common characteristics of developing nations are:
    Technological Backwardness:. Technological use in developing countries is very low and used technology is also outdated.
    Dualistic Economy: Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities .
    Rapid Population growth: Developing nations have a high population growth rate or a larger size of population.
    Lower Productivity: In developing nations, the productivity of factors of production is very low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently.
    Excessive dependence on agriculture: The majority of the population in developing nations are highly engaged in the agriculture sector, especially in rural areas.
    4) I do not agree. Reason, is that is, While it might be true that women are often are often on the forefront of poverty where men are presented to be the main income creator, it still doesn’t mean that one can connect this phenomenon with gender. Poverty is a dangerous phenomenon that doesn’t take into cognizance the gender that is being affected by it. It’s a universal phenomenon that affects everyone though gender inequality can be said to have put more women on the forefront of poverty. It still doesn’t mean that poverty has a woman’s face.

  86. Ifechukwu Munachiso Victor (2019/242147,Economics department) says:

    1. The Afro-African conference of 1955 in Bandung, Indonesia signaled the beginning of the influence of the third world (or non-aligned states) in international political matters – a meeting so pivotal that the west specifically the United States tried to thwart. In attendance were 29 countries asides from the Indonesian president representing nearly one quarter of the earth surface and a total population of 1.5 billion people. However among these countries, two (China and India) have been most instrumental to the emergence of the third world and the improvement of relations between them and the rest of the world.
    As to the international political rank of a country two major factors come to mind, the economic and the military might – some authors have even gone as far as comparing them to left and right arms respectively.
    With respect to the above we look at China. Economically we see a country that has arisen from the ashes with GDP growth rate according to the World Bank averaging 9% from 1978 till date with the country being known as the manufacturing hub of the world. A country that has risen so much that it became a threat to the west especially the United States as we can see from the trump trade bans. Militarily we see a permanent member of the United Nations Security Council, ranking 3rd in military might behind only the US and Russia according to the global fire power’s power index.
    Following closely behind in all this is India. According to the economic times India’s GDP growth rate from 2000 till 2019 averaged 6 to7% annually. Militarily India ranked fourth behind china, with lots of talks circulating on its addition as a permanent member of the United Nations Security Council. In fact Ukrainian president Volodymr zelenskyy specifically called for India’s participation in the war in Ukraine – a sign that India is becoming influential in the international sphere. Also it recently took charge of the G-20.
    These countries have particularly helped to show that the third world will not be relegated to the backseat of international politics, yes they only just began getting treated as equals among nations(many of these countries are young relative to their developed counterparts), but they have a voice and they will be heard.
    As these countries are yet developing countries they have boosted the voice of the global south. I guess Alfred sauvy’s “they are nothing and they want to be something” should be extended, “… they will be something” as china and India have shown us.

    2. Some of the criteria used presently by the United Nations, the world bank and other Bretton woods institutions (the world bank and the international monetary fund) are :
    Percentage of the population with access to electricity
    Financial inclusion
    Life expectancy rate (Expected life span)
    Ease of doing business( 0 = lowest 100 = highest)
    Percentage employment in services agriculture and industry for male and females respectively
    Fertility rate (total births per woman)
    Child welfare rate
    Literacy rate (Educational attainment)
    Mortality rate (Amount of deaths)
    Sanitation
    Amount (usually in percentage) of People living with sexually transmitted diseases(Like HIV and AIDs)

    3. Some of the common characteristics of developing nations are:

    High level of poverty

    In developing nations we see a higher level of poverty than in developed countries (a good example is Nigeria – the poverty capital of the world). Poverty is simply the lack of access to basic human needs in the 21st century and having a high level of poverty means majority of the people lack access to those things which the developed world regard as normal. To more exemplify this we can look at the case of electricity in Nigeria and lack of access to basic sanitation in Ethiopia, Uganda, Kenya and Tanzania.

    Over dependency on Agriculture or primary production

    The majority of the labor force in developing nations are engaged in agriculture of which majority is basically subsistence agriculture. For example in the case of the south Asian economies agriculture engages more than 70% of the population (according to enotesworld.com)

    Lack of infrastructure

    Infrastructural developments like the development of roads, hospitals, schools and the likes are lagging behind. The ones that have been built have not being maintained properly this makes life difficult for people and businesses in the nation creating a disincentive to invest and further hampering the growth of such nations

    High level of unemployment and unemployment

    As a result of the lack of utilization of natural resources, lack of workforce planning, low industrial developments and so on the developing nations find themselves with high levels of unemployment usually in double digits. The case of underemployment is even more serious than unemployment, for example in Nigeria we can see cases of a graduate of Engineering teaching in a primary school with a 20,000 naira wage, due to the unavailability of jobs.

    High population growth rate
    The developing countries usually either have high population growth rates or large populations. This is usually due to lack of family planning, illiteracy especially among the female populace and the advances in health care which has greatly reduced the death rates.

    4. I will agree that poverty has the face of a woman. From a statistical point of view according to a World Bank report 1.29 billion people live in abject poverty and women make up 70% of them and with such high proportions we can say that the perfect picture of poverty is women.
    Women have to take care of the children and themselves and even in some cases their husbands even though they are disadvantaged economically with low opportunities for growth and inadequate access to education. With patriarchal mindsets permeating every area of their lives.
    In fact in times of economic breakdowns such as wars women and children take the brunt of it, with lower education levels due to lack of access to education how can they be productive even when they are migrated to other countries even as their husbands and sons die in the conflict. Removing the extremities of war, it is easier for a man to get a job and produce optimally not just because he had better opportunities at education but also because of the patriarchal system making the employees to give him more respect and support to work effectively and making the woman less productive except with great difficulties For this reason women are usually denied such high ranking positions and reduced to workers in factories who (the management of the factories) usually take advantage of them (women).
    The fact that many women want to simply marry rich and enjoy “the baby girl life ” , is a display of the fact that even the women themselves are getting frustrated at the helplessness and seeing the only option as depending on a rich man.
    If poverty is lack of basic necessities can we not say that women are ready to strip themselves to the bare of this so that their children can thrive, is this the case for most men, No? In many cases we can see that men abandon their wives especially if they have no male child or whatever other reason they can give. With women told to simply watch and pray.
    I have come across some who seem to think that the notion that poverty has a woman’s face is in and of itself misogynistic and that we should not separate such a global disease by genders however the fact remains women are at the forefront of poverty(a fact no one can disclaim) and hence poverty has a woman’s face.

  87. EZEH SOMTOCHUKWU CHRISTIAN (2019/251470) says:

    1.)The Bandung conference of 1955 led to the emergence of the third world. India
    played a major role in raising the voice of newly independent countries. As a result of
    independence movement, the United Nations, was gradually transformed into a third world
    forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
    Sri Lanka discussed peace, role of the Third World, economic development, and
    decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
    on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
    emergence of third world free from evils of capitalism and communism.
    Thus, the concept of the Third World was born. Communist China was one of the
    countries participating as the Third World Country rather than the Russian Soviet orbit. The
    1955 Bandung Conference was the first attempt at the creation and establishment of a third
    force in global politics. The term Third World was adopted to refer to a self-defining group
    of non-aligned states. The Bandung Conference played an important role in mobilizing the
    counter-hegemonic forces to be known as the Third World. There were other priority areas
    as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
    the United Nation .The conference also emphasis on the issues of increased cultural and
    technical cooperation between African and Asian governments along with the establishment
    for an economic development fund .It also raised its voice for the required support for
    human rights and the self-determinations of peoples and nations by the world community
    and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
    of perspective the international politics marked the emergence of a non-aligned bloc from
    the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
    bandung spirit is not detachment from the powerful Western countries, but non-aligned
    self helped organization against the powerful countries
    .The early 1960s were years of optimism in the Third World. Ghanaian prime minister
    Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
    place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
    democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
    its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
    politics and state planning to promote India‘s quest for political independence and economic
    autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
    and 1980s expanded and contracted as time progressed . The
    1961 Belgrade Non-Aligned Summit conference established an alternative platform for
    negotiating the diplomatic solidarity of countries which saw an advantage in
    advertising their autonomy from the rival superpower blocs. During the early 1960s,
    primary focus was directed towards mitigating the effects of the Cold War, ―as represented
    by the British and French invasion of the Suez, and the Russian invasion of Hungary in
    1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
    the next, the principle issues centered on problems of economic development, emerging
    due to intense uncertainty in the global economy
    . The 1960s and 70s, marked the great age of Third World rhetoric of common
    cause and common action.A significant event was the 1966 Tri-continental Conference
    of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
    across Asia, the Middle East, Africa and Latin America. This conference called for an
    increasingly radical anti-imperial agenda. During the 1970s, the
    collective identity of the majority of Latin American, Asian and African countries in
    international relations became expressed through demands for reform in the institutional
    structure of the international economy.The main thrust came from
    the Group of 77 (G77), which had been created at the first United Nations Conference on
    Trade and Development (UNCTAD) meeting held in 1964.

    2.
    Some examples of social indicators of development include:

    Education levels – for example how many years of schooling children have.

    Health – often measured by life expectancy.

    Employment Rates

    Gender equality

    Peacefulness

    Democracy

    Corruption

    Media freedoms

    Civil Rights

    Crime/ social unrest

    Suicide Rates

    Composite indicators of all of the above

    3.
    Even though developing nations have very different backgrounds in terms of resources, history, demography, religion and politics, they still share a few common characteristics.
    i. Low Per Capita Real Income
    Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
    It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
    ii. High Population Growth Rate
    Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
    iii. High Rates of Unemployment
    In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
    iv. Dependence on Primary Sector
    Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
    v.Dependence on Exports of Primary Commodities
    Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.

    4.
    Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
    In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities . are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality

  88. Ezeugwu Chidera Paul reg no: 2019/241560 economics says:

    Answers:
    1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.

    2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.

    3.
    1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
    2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
    3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
    4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
    5.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
    6.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
    7.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.

    These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.

    4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.

    Overall, I agree that poverty has the face of a woman, as the data and research clearly indicate that women are disproportionately affected by poverty and face unique challenges in breaking out of it

  89. SIMON PATIENCE PRECIOUS/ 2019/244760 says:

    NAME: SIMON PATIENCE PRECIOUS
    REG NO:2019/244760
    DEPARTMENT: ECONOMICS
    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
    Answer
    The strongest theme in China’s current third world policy is “to change the old international economic order and build a new one.” India’s peculiarity as a development assistance provider is that India itself was the major recipient of development assistance from the developed countries and multilateral organizations. Despite its own challenges, India set aside some of its scarce resources to assist other developing countries who had undergone similar exploitation and subjugation under the colonial rule.As a result of decolonization, the United Nations,at first numerically dominated by European countries and countries of European origin,was gradually transformed into something of a third world forum.The problem of underdevelopment then became the focus of a permanent, although essentially academic debate.Despite the debate,the unity of the third world remains hypothetical,expressed mainly from the platform of international conferences.

    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year.However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
    Answer
    Other criteria and indicators developed by the United Nations, World Bank and other Breton Woods institutions to measure development and underdevelopment are:
    According to world bank, Countries with Gross National Income(GNI) of USD11,905 and less are defined as developing , this was stated by the world bank in the year 2015 and USD 12,275 in the year 2019.
    According to United Nations , some of the indicators are:
    1.UN’s Human Development Index(HDI) which measures a country’s average achievements in three basic dimensions of human development which are life expectancy, educational attainment and adjusted real incom
    2.UN’s Human Poverty Index (HPI) which measures deprivation using percentage of people expected to die before the age 40, percentage of illiterate adults,percentage of people without access to health services and safe water and the percentage of underweight children under five.

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
    Answer
    1.Widespread poverty: using Nigeria as a case study, it has been recorded that 63% of persons living within Nigeria with amounts to 133billion people are multinationally poor. This portrays a good example of a developing country.
    2.Substantial dependence on agricultural production: this means over dependence on agricultural production and not looking out for other sources of income and if the economy focuses more on subsistence agriculture instead of commercial agriculture, they are likely not to generate income in that aspect to the economy
    3.Low levels of productivity: a developing country is more of a consumer than a producer, they consume what they need to keep the economy running instead of trying to produce and when a country consumes more than it produces they tend to have deficit budget.
    4.High and rising level of unemployment and underemployment: a developing country most times experiences unemployment because there is no enough resources to cater for every citizen in the nation, some people choice to be underemployed instead of not getting employed at all following the popular say “half bread is better than none”.In Nigeria about 33% of people who are willing to work are not employed,it shows that Nigeria is a developing country.
    5.Low level of living:people The standard of living of people in terms of health,comfort,security,material goods etc are being tampered with because of lack of resources, the citizen have no other choice but to live in discomfort while the rich flee out of the country.

    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree?If yes, why? If no, why?
    Answer
    Yes, poverty has a face of woman. Women are most affected by poverty, women of nearly all races are face higher rates of poverty than men. “Poverty has a female face and the global economic downturn will have a significant impact on women as more of them lose jobs and are forced to manage shrinking household incomes”as stated by Ezekwesili. For instance, In the United States, more women than men live in poverty. According to U.S. Census Bureau data, of the 38.1 million people living in poverty in 2018, 56 percent—or 21.4 million—were women,women suffers the most in the society in terms of being abused sexually, being forced to becoming a full time housewife also the traditional stereotypes of women remain embedded in many cultures restricting income opportunities and community involvement for many women. Government and also the public should find a way to invest more in women and also help build them.

  90. Anya-Awa Oma Ucheoma. 2019/246475 says:

    1. Shigeo Kobayashi, Jia Baobo and Junya Sano
    Introduction

    The Chinese Economy since the Start of the Reform and Open-door Policy

    The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.

    The obvious aim of this policy shift was to rebuild its economy and society that were devastated by the Cultural Revolution. The policy shift also appears to have been prompted by recognition that the incomes of ordinary Chinese were so low, in comparison with incomes in other Asian economies, that the future of the Chinese state and the communist regime would be in jeopardy unless something was done to raise living standards of its people through economic growth.

    The government subsequently established a number of areas for foreign investment, including the special economic zones, open coastal cities, the economic and technology development zones, the delta open zones, the peninsula open zones, the open border citiees, and the high-tech industry development zones. The establishment of these zones provided the trigger for massive inflows of foreign investment, primarily from companies in Hong Kong and Taiwan. At the same time, China promoted its socialist market economy concept. The changes brought an entrepreneurial boom that resulted in the emergence of huge numbers of entrepreneurs and venture businesses within China.

    Inflows of foreign capital, technology, and management knowhow enabled China to turn its vast labor resources and space to rapid economic growth. The shift to an open-door economic policy ushered in a period of high economic growth in the first half of the 1980s. The economy stagnated around the time of the Tiananmen Square Incident in 1989, but in the first half of the 1990s, China was again boasting high growth rates. Rapid economic growth was accompanied by a rise in per capita GDP (Fig. 1). In 1998, per capita income, though still only about US$770, was 14 times higher than in 1980. Therefore, it seems reasonable to conclude that Deng Xiaoping’s first goal, which was to improve the economic status of the people, has been accomplished.

    2. Three criteria are used to decide whether or not a country is a Low Developing Country(LDC): A measure for per capita income, a human assets index and an economic and environmental vulnerability index. Countries with less than $1,035 GNI per capita are classified as low income countries, those with between $1,036 and $4,085 as lower middle income countries, those with between $4,086 and $12,615 as upper middle income countries, and those with incomes of more than $12,615 as high income countries. At the end of 2021, there were 46 countries on the UN list.

    3a.) Low Per Capita Real Income
    Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.

    It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.

    b.) High Population Growth Rate
    Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.

    c.) High Rates of Unemployment
    In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.

    d.) Dependence on Primary Sector
    Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.

    e.) Dependence on Exports of Primary Commodities
    Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.

    4. I AGREE;

    Women suffer more than men from crisis-driven budget and social spending cuts, which must be offset by investing in job training and female entrepreneurship, say MEPs in a non binding resolution adopted on Tuesday. Two other resolutions look at measures to combat gender stereotyping in the EU and to protect women’s rights in North Africa.

    The global economic crisis will have a major impact on women.

    Girls, more than boys, will suffer in areas such as education and infant mortality

    – The plight of women must be incorporated in any economic development strategy

    WASHINGTON, May 15, 2009 – The global economic crisis will drastically reduce African women’s individual incomes as well as the budgets they manage on behalf of their households, with particularly damaging consequences for girls, said Obiageli Ezekwesili, World Bank Vice President for the Africa Region, at a recent conference on the impact of the global economic crisis on women in Africa.

  91. NAME: UGWU SARAH CHINECHEREM
    DEPARTMENT: ECONOMICS EDUCATION
    REG NUMBER: 2019/241843
    COURSE: DEVELOPMENT ECONOMICS ECO.361

    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
    The Bandung conference, in 1955, was the beginning of the political emergence of the third world. Two nations whose social’ and economic systems were sharply opposed-China and India-played a major role in promoting that conference and in changing the relation between the third world and the industrial countries, capitalist and Communist. As a result of de-colonialization, the United Nations, at first numerically dominated by European countries and countries of European origin, was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, although essentially academic.
    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
    This Institutions are powerful institutions that have been involved in economic development in African countries before independence. However, there are controversies regarding whether they facilitate or hinder the economic prospects of Africa. This institution interrogate their roles in the economic development of Africa and explain the justification for their untiring involvement. It argues that all institutions are instruments in the hands of great industrial powers of the world to subjugate African countries in favour of their economic prosperity. It is recommended that the leaders of African countries should have a revolutionary attitude towards these institutions and their economic policies
    Bretton Woods led to the establishment of three global institutions; The World Bank, International Monetary Fund, and the World Trade Organization.
    International Monetary Fund.
    International Monetary Fund is an institution that oversees international monetary systems, global payments, and exchange rates to enable countries and their citizens to purchase goods and services from each other. Functions of IMF are:
    1. To promote orderly exchange arrangements and encourage stable exchange among its members.
    2. Provide technical assistance to member countries in creating and implementing economic policies.
    3. To facilitate expansion and balanced growth of the international market.
    4. To promote international monetary cooperation through the formulation of an institution that provides solutions to all global monetary problems.

    World Bank:
    The world bank is a financial institution whose primary purpose is to promote economic and social growth of developing countries through the provision of funds to support the productivity of developing countries. Its functions are:
    1. Enabling sustainable growth through poverty reduction in poor developing countries.
    2. Offering post-conflict solutions to war-torn countries.
    3. Addressing regional and global issues that have crossed national boundaries such as climate change.
    4. Financing for development projects in middle-class countries.

    World Trade Organisation (Formerly referred to as General Agreement on Tariffs and Trade (GATT))
    World Trade Organization is a global organisation that promotes and maintains free trade among its members. Duties include:
    1. To encourage a multilateral trade system within all member states.
    2. To control or eliminate harmful trade practices.
    3. To mediate trade disputes among member states.
    4. To suggest and undertake measures for smooth flow of free trade.

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.Low Per Capita Real Income
    1 Low Per Capita Real Income
    2 Mass Poverty
    3 Rapid Population Growth
    4 The problem of Unemployment and Underemployment
    5 Excessive Dependence on Agriculture
    6 Technological Backwardness
    7 Dualistic Economy
    8 Lack of Infrastructures
    9 Lower Productivity
    10 High Consumption and Low Saving

    Low Per Capita Real Income
    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    Mass Poverty
    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    Rapid Population Growth
    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

    The Problem of Unemployment and Underemployment
    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

    Excessive Dependence on Agriculture
    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    Technological Backwardness
    The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

    Dualistic Economy
    Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

    Lack of Infrastructures
    Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

    Lower Productivity
    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

    High Consumption and Low Saving
    In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

    The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore. In a summary, the major characteristics of developing countries are presented in the following table.

    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
    YES I AGREE But large gender gaps remain. Women and girls are more likely to die, relative to men and boys, in many low- and middle-income countries than their counterparts in rich countries. Women earn less and are less economically productive than men almost everywhere across the world. And women have less opportunity to shape their lives and make decisions than do men.
    Gender inequality is one of the oldest and most pervasive forms of inequality in the world. It denies women their voices, devalues their work and make women’s position unequal to men’s, from the household to the national and global levels. Despite some important progress to change this in recent years, in no country have women achieved economic equality with men, and women are still more likely than men to live in poverty.

  92. 1.As both inflationary and recessive effects of oil price rises since the beginning of 1979 permeated every aspect of the economy, the world economy in 1980 suffered a general setback in the face of the sharp rise in prices. At the same time, the balance of payments disequilibrium between oil producers and consumers was further expanded. As the employment situation worsened, protectionist pressure rose.

    It may thus be said that 1980 was a year in which the world economy strove to absorb and adjust the various ills caused by the second oil crisis.
    2.Ways of Measuring development depends
    Ideology at the roof top of policies and programmes for example the neo-liberal ideology that is at the root of all mainstream development policy currently
    Analytical and normative aspect of belief policies and programmes.
    Beliefs about the relationship between agency and structure
    Beliefs about the importance of economic belief and social aspect of development.
    3.Low Per Capita Income:
    The first important feature of the developing countries is their low per capita income. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan.

    Excessive Dependence on Agriculture:
    A developing country is generally predominantly agricultural. About 60 to 75 per cent of its population depends on agriculture and its allied activities for its livelihood. Further, about 30 to 50 per cent of national income of these countries is obtained from agriculture alone.

    Low Level of Capital Formation:
    The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population.

    4. Yes poverty has a women’s face, why is because we have seen this in many of our communities. Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and fierce figure how you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elderly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equally footing. l have had the privilege of living in Sweden and lam realizing that fathers are so involved in the family, and are so much involved in caring for the children too. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.
     

  93. Nwaigbo Nzubechukwu Victory says:

    NAME: NWAIGBO NZUBECHUKWU VICTORY
    REG NO: 2019/247274
    DEPARTMENT: ECONOMICS
    COURSE TITLE: DEVELOPMENT ECONOMICS 1
    COURSE CODE: ECO 361
    AN ASSIGNMENT
    QUESTION 1
    Two nations whose social and economic systems were sharply opposed- China and India- played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the Industrial Countries, Capitalist and Communist.
    China and india played major roles in the political emergence of the third world. With the emergence of China and India in world economy ever more manifest in Africa economy and any other third world economy as the interactions between the Asian giant and the third world economy including Africa are bound to intensify even if the recent period of supercharged growth in the former countries, we can think of the Asian giants as growth models, key global price settlers, including for interest rates.
    With the integration of China and India- The Asia Drivers in the world economy gaining momentum, it is ever more manifest that economy gaining momentum their presence is likely to transform past relationships ina number of key respects , providing both competition and opportunities for the major trading partner in OECD countries but in also to developing countries.
    The 1960s and 1970s were a crucial time for the promotion of the third world countries. China and India were two of the most important countries in terms of promoting the third world countries. China provided economic assistance to the third world countries by providing assistance in the construction of rural public facilities, sharing experience in agriculture governance and offering technology transfer. Whereas, India provided political assistance. This helped to promote the development of these countries and help them gain independence.
    QUESTION 2
    Traditionally, Developing Countries are defined according to their Gross National Income (GNI)per capital per year. However, the United Nations, World Bank and other Bretton woods institutions have developed many other Criteria and indicators for measuring development and underdevelopment.
    1, The Genuine Progress Indicator
    The Genuine Progress Indicator builds off GDP as an economic indicator by including measures of the impact of economic growth on the environment as well as various social factors. The GPI takes GDP into consideration while also measuring the negative impacts of growth. For Example, In this measurement, resource depletion and degradation are subtracted from the positive impacts of growth to determine the level of development. The GPI tries to get a bigger picture of the average quality of life by measuring information such as housework, parenting, the costs of crimes, and the value of volunteering work.
    2, The Multidimensional Poverty Index
    The MPI replaced the HPI in 2010. It differs from the HPI as it assesses poverty at the individual level. If one person is deprived of a third or more of ten (weighted) indicators, the global index identifies them as ‘MPI poor’. The extent of poverty is measured by the percentage of deprivation a person is experiencing.
    3,The Human Poverty Index (HPI)
    The Human Poverty Index complements the HDI as it is an indication of the standard of living in an economy. It considers the level of poverty and deprivation of a community in a country. The HPI uses two indices: The HPI-1 is used to measure developing countries.
    The HPI-2 is used for developed countries that are part of the Organization for Economic Co-operation and Development (OECD).
    4, Quality of Life Index
    The Quality of Life Index (IKH) or Physical Qualty of life Index (PQLI) is used to measure people’s welfare and prosperity. Macroeconomic indexes cannot provide a picture of people’s welfare in measuring economic success. For example, the national income of a nation can continue to grow, but without increasing social welfare.

    QUESTION 3
    Clearly discuss and analyse the common Characteristics of Developing Nations.
    1, Widespread poverty
    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
    The rate at which poverty is spread in developing countries is very high with this level of poverty countries are considered as a third world or a developing country.
    2, Rapid Population Growth
    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
    3, Substantial dependence on agricultural production and primary product export
    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries.
    Substantial dependence on agricultural produce and export is very high as developing country depends on primitive agricultural produce which is mainly carried out using primitive agriculture agricultural tools. With the high level of primitive Agriculture, farmers can bearly produce for export which reduces exports and eventually reduce economic income.
    4, Lower Productivity
    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
    5, Lower Levels of Human Capital
    Human capital – education, health and skills – are of crucial importance for economic development. In our analysis of human development index (HDI) we noted that there is great disparity in human capital among the developing and developed countries. The developing countries lack in human capital that is responsible for low productivity of labour and capital in them. Lack of education manifests itself in lower enrolment rate in primary, secondary and tertiary educational institutions which impact knowledge and skills of the people. Lower levels of education and skills are not conducive for the development of new industries and for absorbing new technologies to achieve higher levels of production.
    6, The Problem of Unemployment and Underemployment is very high in a developing country
    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs.
    7, Dualistic Economy
    Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
    8, Dependence and Vulnerability
    Dependence and Vulnerability in developing countries are high as individuals or citizens of a country is exposed to the possibility of being attacked or harmed either physically or emotionally. And this exposure to different social vices make majority of people dependent on the wrong set of persons.
    9, High Consumption and Low Saving
    In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
    10, Low Per Capita Real Income
    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    QUESTION 4
    It has been argued that poverty has the face of a woman. As a budding Economist, Clearly discuss and analyse this Statement. Do you agree or disagree? If yes, why? If No.
    I agree that poverty has a woman face why because women are often on the forefront were there is poverty. Globally, poverty remains a challenge: the World Bank estimates that 1.29 billion people live in absolute poverty; the sad fact is that about 70 per cent of them are women. However, according to the Human Development Index, 2009, 60.3pc of Pakistan’s population lives on $2 per day. According to Unesco, 71pc of eligible girls did not attend secondary school in 2009. Gender discriminatory practices shape poverty: as expected, more women are at the suffering end. They suffer poverty of opportunities far more than men. Poverty gives rise to social powerlessness and political disenfranchisement, and these add to the vulnerability of the poor.
    The reasons for such high poverty levels are several: corruption, illicit capital flight, debt and loan conditionalities, high defence expenditures, and now, extremism. Those are the general ones. To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
    Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
    Poverty has a woman face according to my research does not describe the face of a young woman or women of a country but the consequences of poverty such as lack of adequate resources, powerlessness and political disenfranchisement, vulnerability, force labour, exposure to violence ate mostly experience by women of a country or even the girl child.

  94. Eligwedire Victor Ozioma 2019/249216 ECONOMICS says:

    Answers:
    1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.

    2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.

    3.
    1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
    2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
    3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
    4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
    5.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
    6.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
    7.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.

    These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.

    4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment.

    Overall, I agree that poverty has the face of a woman, as the data and research clearly indicate that women are disproportionately affected by poverty and face unique challenges in breaking out of it

  95. Gabriels sharon says:

    GABRIELS SHARON
    2019/241572
    ECONOMICS

    1- The two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. It began in the Bandung conference in 1955, where these nation states brought the focus out of the European dominated organization of United Nations. If was in this conference they the focus shifted to third world states. With urgency, the development of these underdeveloped states became the focus of the permanent although essentially academic debate.

    2- In each country, factors such as economic growth, inflation, exchange rates, and population growth influence the level of Atlas GNI per capita.The World Bank’s official estimates of the size economies are based on GNI converted to current U.S. dollars using the World Bank Atlas method. The Atlas method smoothes exchange rate fluctuations by using a three year moving average, price-adjusted.

    3- the characteristics of developing countries are as follows
    a) widespread poverty- in most developing countries, there’s an outrageous number of people who live in abject poverty and can’t provide basic human-needs for themselves or their families. They live in unfavorable conditions and eat poorly prepared meals.

    b) High rates of population growth and dependency burdens – the population growth of developing nations grows in a rapid manner, one which is without check or control. The population of developing nations are increasingly progressive as against the resource available to provide and cater for the population.

    c) low levels of productivity- most of the population aren’t productive or proactive in their businesses or daily jobs due to lack of incentives from the governments of these developing countries. The citizens aren’t moved to do much more for themselves because of the poor remuneration in the economies labour force.

    4- I agree with the statement that says “Poverty has the face of a women” for these reasons. In the society we live in, women face societal disadvantage and inequalities especially economically. A woman doesn’t have the freedom of financial liberation due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.

  96. Eco 361
    Name: Okafor Charles chidozie
    Department: Eco/pol

    Assignment
    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.

    2 Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.

    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
    Answer
    1. China and India have become world economic powers; they are attempting to harness the forces of globalisation so as to strengthen their international standing in multilateral institutions like the WTO. Theirs is not a surrender to imperialism, but an attempt to build a bulwark against it, from which they can implement their own national strategies for development — strategies that are qualitatively different from those followed by the non-aligned movement after Bandung. While each country is pursuing a somewhat different path, their collective might within the G-20 is already forcing concessions on trade, agriculture and subsidies from the US and EU. But do such growing South-South economic linkages have the potential to transform the global balance of power?

    The ideological background of the relationship between communist and developing countries reflects the pluralism in the international com- munist movement.
    Soviet-oriented communists consider the dispute between the “socialist” and “capitalist” world systems as main feature of our present epoque. In this dispute the “socialist” system – according to their version – draws support from three sources:
    [ ] the communist states,
    [] the communist parties in Western industrial
    movement can, however, only survive in its con- frontation with “imperialism” and “neocolonial- ism” under the protective cover of the “socialist” system. Or putting it bluntly, the “Conference of the Non-aligned” should be replaced by an “anti- capitalist” alliance of “socialist” and developing countries.
    According to Chinese theories – which ap- proached the views of the “Group of 77” – the main conflict of our present age is the one be- tween the “rich” North and the “poor” South. The Soviet Union strongly rejected any such attempts to place developed communist states on one level with Western industrial countries. Soviet communists would only go as far as to accept a historically justified conflict between Western in- dustrial countries (“imperialism” and “neocolo- nialism”) and developing countries (“revolution- ary national liberation movements”) which they consider, however, a constituent part of – and overshadowed by – the East-West conflict. The “revolutionary national liberation movement”, i.e. the developing countries’ efforts to reduce their political and economic dependence on Western industrial countries, is — as long as it undermines the political, military and economic strength of the Western industrial countries – in Soviet eyes one of the main features of the overall struggle against the “capitalist” world system to be car- ried on under the leadership of the Soviet Union. Soviet-oriented communists consider the mere existence of the “socialist” world system, which according to their opinion determines the tenor and trend of the “world revolutionary process”, as a guarantee for the success of the developing countries’ efforts towards political, economic and
    social independence.

    2. In the World Development Indicators database (and most other time series datasets), all 189 World Bank member countries, plus 28 other economies with populations of more than 30,000, are classified so that data users can aggregate, group, and compare statistical data of interest, and for the presentation of key statistics. The main classifications provided are by geographic region, by income group, and by the operational lending categories of the World Bank Group. These groupings change from time to time: these tables provide those currently in use.
    The term country, used interchangeably with economy, does not imply political independence but refers to any territory for which authorities report separate social or economic statistics.

    * Geographic regions

    Groupings are primarily based on the regions used for administrative purposes by the World Bank. There are two main variants: one which includes all economies, and one which excludes high-income economies (see income groups below for the definition of low-, lower middle-, upper middle-, and high-income categories).

    Income groups

    Economies are currently divided into four income groupings: low, lower-middle, upper-middle, and high. Income is measured using gross national income (GNI) per capita, in U.S. dollars, converted from local currency using the World Bank Atlas method. Estimates of GNI are obtained from economists in World Bank country units; and the size of the population is estimated by World Bank demographers from a variety of sources, including the UN’s biennial World Population Prospects.
    Countries are immediately reassigned on July 1 each year, based on the estimate of their GNI per capita for the previous calendar year. Income groupings remain fixed for the entire fiscal year (i.e., until July 1 of the following year), even if GNI per capita estimates are revised in the meantime.
    See “How are the income group thresholds determined?”
    See “Why use GNI per capita to classify economies into income groupings?”
    Download an Excel file of historical classifications by income.

    Operational lending categories

    Economies are divided into IDA, IBRD, and Blend countries based on the operational policies of the World Bank. International Development Association (IDA) countries are those with low per capita incomes that lack the financial ability to borrow from the International Bank for Reconstruction and Development (IBRD). Blend countries are eligible for IDA loans but are also eligible for IBRD loans because they are financially creditworthy.
    Classification reassignments of operational lending categories may occur at any time, but will only be reflected in World Development Indicators or other databases when those databases are updated.

    3. Low Per Capita Real Income

    The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

    Mass Poverty

    Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

    Rapid Population Growth

    Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

    The Problem of Unemployment and Underemployment

    Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries. 

    Excessive Dependence on Agriculture

    The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

    Technological Backwardness

    The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

    Dualistic Economy

    Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

    Lack of Infrastructures

    Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

    Lower Productivity

    In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
    High Consumption and Low Saving
    In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption.

    4.Yes ,poverty has the face of a woman .

    Globally, poverty remains a challenge: the World Bank estimates that 1.29 billion people live in absolute poverty; the sad fact is that about 70 per cent of them are women. In Pakistan, it is no different, but without a national census, it isn’t even possible to gauge the correct picture. Poverty is difficult to quantify: the methodology used by the government has been challenged by the World Bank and the UNDP, while independent organisations consider poverty to be above 28.3pc.
    However, according to the Human Development Index, 2009, 60.3pc of Pakistan’s population lives on $2 per day. According to Unesco, 71pc of eligible girls did not attend secondary school in 2009. Gender discriminatory practices shape poverty: as expected, more women are at the suffering end. They suffer poverty of opportunities far more than men. Poverty gives rise to social powerlessness and political disenfranchisement, and these add to the vulnerability of the poor.
    The reasons for such high poverty levels are several: corruption, illicit capital flight, debt and loan conditionalities, high defence expenditures, and now, extremism. Those are the general ones.
    To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
    Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
    Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.
    The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.
    The risks of increasing poverty grow in parallel with the number of women-headed households. Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.
    It is no surprise that women are over-represented among the country’s poor; discrimination against them exists at all levels, within the family, with its unequal gendered division of responsibilities and labour, inequality in access to healthcare, to schooling, to social protection. Tradition ordains that their mobility be restricted.
    Unsurprisingly, few poor women have hope of escaping this poverty as there are so many odds stacked against them. Despite laws that favour them, even richer women are regularly denied land inheritance by emotional coercion, forced marriage and even by ‘marriage’ to the Quran.
    The current political situation prevailing in the country presents a mixed picture for women’s progress and development. On the one hand, there are several forward-looking laws and amendments, widespread provision of safety nets like the Benazir Income Support Programme and increased school enrolment for girls. On the other hand is the snail’s pace at which the bureaucracy moves to implement those laws. Then again, there’s society’s stubbornly ‘eyes shut’ attitude to women’s rights and progress, the lack of recognition that women’s progress requires an acceptance of their constitutionally guaranteed equal status as citizens of this country.
    If women are to progress and participate effectively in the economy, they must receive equal education, equal training, in rural and urban sectors and equal dignity and income. Pakistan cannot achieve progress on the efforts of less than half its population.

  97. Nkeonye Oluchi says:

    Name: Nkeonye Oluchi
    Reg No: 2019/250120
    DEPARTMENT: Economics

    1.Yes. This occurred at the Bandung Conference in 1955. China and India played a role in changing the relationship between the third world and the individual countries, capitalist and communist. As a result of decolonization, the United Nations at first numerically demonstrated by European Countries and countries of European origin was gradually transformed into something of a third-world forum. With increasing urgency, the problem of under-development then became the focus of permanent, although, essentially academic debate.

    2. The Works Bank’s official estimates of the size of economies are based on GNI converted to the Atlas method. The Atlas method smoothens exchange rate fluctuations by using a three-year moving average, price-adjusted conversion factor. This is to reduce the impact of the exchange rate fluctuations in the cross-country comparisons of national incomes.

    3.a. Low levels of living: it is common for citizens in an underdeveloped country to have a very low standard of living. A low level of living means that these citizens have inadequate food to eat, poor housing, lack of governmental basic amenities (like electricity), bad economic conditions, etc.
    b. High rate of population growth and dependency burdens: when the population outgrows the available resources that are been put to use, then the citizens, on average, would not have enough to survive on. This creates scarcity in the economy. Also, when the dependent population (very young and old people) is more than the working-class population, the development will not occur in that nation.
    c. Widespread poverty: If a majority of the people in a country are poor, then the country is underdeveloped. Poverty is one of the major indicators of underdevelopment. Poverty does not mean a lack of money. If it was just that, then you can say that the country is not growing. But Poverty (in a country) means the lack of money, good governance, good infrastructures, management of scarce resources, etc.
    d. Subsistence dependence on agricultural production and primary product exports: Citizens of poor countries depend on the produce of subsistence farming for survival. This is a result of a lack of capital equipment and technical knowledge to farm on a very large scale.
    e. High level of unemployment and underemployment: In an underdeveloped country, the citizens are either not engaged in productive activities, or are doing things below their capacity.

    3. Yes. Poverty has the face of a woman. To properly understand this situation, we’d have to make a comparison between the man and the woman. The burden of poverty falls on the woman who has kids to care for and is concerned about the welfare of these kids. The poor concerned woman would have to look for a way out of their situation, most times, she resorts to begging. But a man most times relinquishes his responsibilities over his children because of poverty. Poverty makes a man feel powerless. This feeling ultimately makes the man reduce the amount of responsibility he had for him. Somehow, he doesn’t reflect his state of poverty as much as a struggling woman would.

  98. Eco 391
    Name: Okafor Charles Chidozie
    Department : Eco /pol

    Assignment
    1. The scientific method is the process of objectively establishing facts through testing and experimentation. The basic process involves making an observation, forming a hypothesis, making a prediction, conducting an experiment and finally analyzing the results. In view of this, clearly discuss non-scientific and scientific research and their differences.
    2. Discuss and deeply explain the characteristics of scientific research.

    Answer

    1..Scientific research refers to research that collects data using systemic methods and strategies. There is a scientific and systemic basis in the collection of data, interpretation, and evaluation of data. When conducting scientific research, the researcher should plan the research and specify the methodology. According to the techniques used in data collection, scientific research can be classified into different categories as observational and experimental.
    Scientific research operates at two levels. One level is the theoretical level, and the other is the empirical level. At the theoretical level, concepts are developed, especially concepts related to social and natural phenomena. At the empirical level, theoretical concepts and relationships are tested. There are two forms of scientific research: inductive and deductive. This depends on the researcher’s training and interest. In inductive research, the researcher gathers theoretical concepts from observed data, while in deductive research, the researcher tests concepts and patterns of the theory using new empirical data.
    While Non-scientific research is research conducted without any systematic methods and scientific basis. In non-scientific research, intuition, personal experience, and personal beliefs are used as techniques to reach a conclusion. Thus, conclusions in non-scientific research are basically based on personal thinking and presumption.
    In non-scientific research, logical and systematics methods are not used in analyzing data. Non-scientific research simply gives a solution for a certain problem. It does not focus on other activities or recommendations for that particular problem. Moreover, it does not use a logical or organized procedure to form the conclusion.

    What is the Difference Between Scientific and Non-Scientific Research?
    Although both scientific and non-scientific research are used in collecting data, they follow different methods and procedures. The key difference between scientific and non-scientific research is that scientific research can be repeated several times using the same methods and data, whereas non-scientific research cannot be repeated since it uses intuition, personal experience, and personal beliefs.
    Moreover, in scientific research, data is collected using different techniques such as observation, formulation, and testing hypotheses. On the other hand, in non-scientific research, data collection only uses observation. Besides, scientific research follows a logical and systematic process in arriving at a conclusion but, in non-scientific research, only the beliefs and expectations of people are considered in arriving at a conclusion. Furthermore, non-scientific research does not follow any logical, scientific, or systematic method. Thus, this is another major difference between scientific and non-scientific research. In addition, scientific research is objective, while non-scientific research is subjective.
    Below is a summary of the difference between scientific and non-scientific research in tabular form for side by side comparison.

    2 1. Objectivity
    Scientific knowledge is objective. Simple objectivity means the ability to see and accept facts as they are, not as one might wish they were. To be objective, one has to protect oneself against one’s own prejudices, beliefs, desires, values and preferences. Objectivity requires that one should set aside all kinds of subjective considerations and prejudices. If you are afraid that your work will not be objective enough, then you can ask us to “write my paper” or order proofreading.
    2. Verifiable
    Science rests on sensory data, that is, data collected through our senses: eye, ear, nose, tongue and touch. Scientific knowledge is based on verifiable evidence (concrete objective observations) so that other observers can observe, weigh or measure the same phenomena and verify the observation to verify its accuracy.
    Is there a god? Is the Varna system ethical or the questions related to the existence of the soul, heaven or hell are not scientific questions because they can not be treated objectively? The evidence regarding its existence can not be gathered through our senses. Science has no answers for everything. Deal only with those questions about which verifiable evidence can be found.

    3. Ethical neutrality
    Science is ethically neutral. It only seeks knowledge. How this knowledge will be used, is determined by the values of society. Knowledge can be used for different uses. Knowledge about atomic energy can be used to cure diseases or to wage an atomic war.
    Ethical neutrality does not mean that the scientist does not have values. Here it only means that you should not allow your values to distort the design and conduct of your research proposal. Therefore, scientific knowledge is value-neutral or value-free.
    4. Systematic exploration
    A scientific investigation adopts a certain sequential procedure, an organized plan or a research design to collect and analyze data about the problem under study. In general, this plan includes some scientific steps: formulation of hypotheses, compilation of facts, analysis of facts (classification, coding and tabulation) and generalization and scientific prediction.
    5. Reliable or reliable
    Scientific knowledge must occur under the prescribed circumstances not once but repeatedly. It is replicable in the indicated circumstances in any place and at any time. The conclusions based on casual memories are not very reliable.

    6. Accuracy
    Scientific knowledge is precise. It is not vague as some literary writings. Tennyson wrote: “Every moment a man dies; Every moment that one is born, it is good literature but not science. To be a good science, it should be written as: “In India, according to the 2001 census, every tenth, on average, a man dies; every fourth second, on average, a baby is born «. Accuracy requires giving the exact number or measure. Instead of saying “most people are against marriages for love,” says a scientific researcher, “ninety percent of people are against marriages for love.”
    7. Accuracy
    Scientific knowledge is precise. A doctor, like a common man, will not say that the patient has a mild temperature or that he has a very high temperature, but after measuring with the help of the thermometer, he will declare that the patient has a temperature of 101.2 F.
    Precision simply means truth or correction of a statement or description of things with exact words as they are without jumping to unjustified conclusions. Every essay helper on our team always works by this rule.
    8. Abstraction
    Science proceeds on a plane of abstraction. A general scientific principle is highly abstract. He is not interested in giving a realistic image.

    9. Predictability
    Scientists not only describe the phenomena that are studied, but also try to explain and predict. It is typical of the social sciences that have a much lower predictability compared to the natural sciences. The most obvious reasons are the complexity of the subject and the insufficiency in the control, etc.

  99. Okegbe udoka Jane 2018/249316 says:

    NAME: OKEGBE UDOKA JANE

    REG NO:2018/249316

    DEPARTMENT: ECONOMICS

    (1) The term third world countries was used in the 1955 Afro-Asian conference,held in Bandung, Indonesia. This conference marked the biginning of the political emergence of the third world countries. Two countries( China and India) with different social and economic systems played a major role in actualising this.

    As a result of decolonization,most colonized countries became an independent state. European and North American domination,underdevelopment,rapid demographic growth etc. and they were called as the ‘Third World‘.The term ‘Third World’ referred to the one-third of the superpowers i.e.the United States and the Soviet Union.Third World,not a homogenous group,has different political system and level of economic development.TheThird World countries are also called developing countries because they are facing the economic,social and political problems like poverty,starvation,illiteracy and ethnic conflicts. This countries have opposed imperialism, colonialism, foreign intervention and have supported peaceful co-existence. Since they all have similar challenges and aspirations formed and called themselves a non- alignment countries. Non- alignment here means not belonging to any of the two world powers or Bloc(America and Russia)

    (2) The set of indices developed by UN and other global agencies on how to measure development includes:

    (i) UN’s Human Poverty Index (HPI): This index measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under five.

    Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due to lack of education etc. Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered under developed.

    (ii) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:

    (a) Life expectancy

    (b) Educational attainment and

    (c) Adjusted real income

    The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of many African Countries like USA,France,South Korea etc are examples of countries with high HDI.

    According to World Bank, countries with a GNI of 11,905 US dollar and less are developing (specified by the World Bank,2015) and 12,275 US dollar (World Bank,2019)

    (3) The following are the common charecteristics of Developing Nation:

    (i) Low level of living: in almost all the developing countries, the populace of the country is faced with low level of living, as they are poor and unable to adequately provide there basic necessities of life.

    (ii) Low Level of Productivity: One common feature that most developed countries posses, that developing countries does not posses is Economic growth which is measured based on a countries productive ability. In developing countries,resources are under utilized and this gives rise to low level of productivity. Even though developing countries Economy is Agrarian, the output from agricultural activities is still low due to employing local methods of agriculture.

    (iii) High rate of Population growth and dependency burdens: Developing countries are mostly characterised by an incessant increase in their population. Not just that,the rate of the dependent population also rises due to increase in population without a corresponding increase in employment, production level etc.

    (iv) High and rising level of Unemployment and Under employment: Due to low level of productivity, there is inadequate employment for the working population,hence this gives rise to high and rising level of Unemployment. The unavailability of jobs also renders most skilled labours in the country to venture into any job that comes there way,even though the job underscores his potential,in the bid to survive.

    (v) Traditional,Rural social Structures: Developing nations are also characterised by Traditional,Rural Social Structures. Rural institutions and traditional settings are common found in the society.

    (vi) Widespread of poverty: Poverty as a term is the inability of people to provide there daily necessity of food,shelter and clothing. The majority of people any developing countries are poor,just few are rich which gives rise to inequality.

    (vii) Prevalence of Imperfect market: Due to low level of production,there are little or no producers of goods and services needed by the consumers in the developing countries. The little producers available hence increase the price outrageously in order to make excessive profit at the expense of the consumer. The producers are able to do this because there is no adequate competition in the market for the goods they are producing. This is a clear example of an imperfect market.

    (viii) Substantial dependence on agricultural products and primary products export: Like earlier explained, developing nations are Agrarian in nature. They produce agricultural produce(primary products) such as cocoa, Kolanut, timber,cotton, palm kernel etc and export to foreign countries. The export of agricultural products for example amounted greatly in the GDP of Nigeria prior to the discovery and exploration of crude oil.

    (ix) Dependence and Vulnerability: The societies of developing countries are faced with exposure to insecurity which limits the freedom of man. This is common in developing countries.

    (x) Distorted Economics devoted to producing primary products for the developed world and to provide Market for their finished goods: Developing countries mostly produce primary products which they export to developed world as raw materials for there companies. The developed countries also exports the finished goods produced back to the developing countries for consumption. By so doing,the developing countries provides market for the developed countries finished goods.

    (4) I agree with the argument that ‘poverty has the face of a woman’. This is because in the society,it is known that men are born to provide for and protect there family, while the women are meant to support the husband. In the course of providing for a family or an individual need,the father or male does it better since it is more like a natural responsibility of all men. The woman in the other hand might find it hard in performing this function especially when she is acting as single mother. This is evident in the society. Most women after losing there husband finds life hard while being the bread winner of the family. They get affected mentally, physically and even emotionally,in some cases they end up losing their life due to the pressure and pain they go through.

    Another point is that, the society in most cases is unfair to the women. They are not given access to many Social activities such as Education, leadership etc that will bring out there innate ability. This impedes them from being able to function adequately in the course of fending for themselves. They are been made to depend solely on men which in most cases are there husband, for there survival.

    Though it is not right to use the face of a woman to liken poverty,but it is also important to know that women are affected by poverty the most in the society than their male counterparts.

  100. Aniemeka Chijindu Dennis 2019/250915 says:

    Aniemeka Chijindu Dennis 2019/250915
    Economics department
    1. The rise of China and India as major world powers promises to test the established global order in the coming decades. As the two powers grow, they are bound to change the current international system—with profound implications for themselves, the United States, and the world. And whether they agree on the changes to be made, especially when it comes to their relationship with the West, will influence the system’s future character. A close examination of Chinese and Indian perspectives on the fundamentals of the emerging international order reveals that Sino-Indian differences on many issues of both bilateral and global significance are stark.
    KEY POINTS
    China and India’s sustained economic growth fuels their increasing geopolitical and military influence.
    Despite their developmental similarities, China and India’s bilateral strategic rivalry means that they have competing priorities on most major global issues.
    Sino-Indian differences are considerable on issues relating to the nonproliferation system, Asian security, regional stability in Southern Asia, and security in the maritime commons, space, and cyberspace. The two rising powers broadly agree on matters relating to the international economic system, energy security, and the environment.
    Because of its ongoing shift to the Asia-Pacific and status as the only global superpower, the United States must manage a complex set of relationships with China and India, which are at times working at cross-purposes.
    CHINESE AND INDIAN POSITIONS ON INTERNATIONAL ISSUES
    Global Order: China and India tend to agree on the importance of state sovereignty and the need to reform global governance institutions to reflect the new balance of power. They also share a strong commitment to the open economic order that has allowed both powers to flourish in the global marketplace. But the two diverge on many details of the international system, such as the future viability of the Non-Proliferation Treaty and the role of state-owned enterprises in fostering globalization.
    Regional Security: Both China and India want a stable Asia-Pacific that will allow them to sustain their economic prosperity, but they perceive threats very differently and have divergent priorities. Importantly, India seeks a resolute American presence in the region to hedge against possible Chinese excesses, while China sees the United States as significantly complicating its pursuit of its regional goals and worries about American containment attempts.
    Security in the Global Commons: Beijing and New Delhi rely heavily on open sea lines of communication, and as a result, they both support the current maritime security regime. However, their interpretations as to its provisions have occasionally diverged. In space, China enjoys significant advantages over India and has emphasized the military dimensions of its program, while New Delhi has only recently begun developing space-based military technology. Both countries are just beginning to wrestle with the difficult task of forming cybersecurity policies, but they have already acted to limit objectionable or illegal activities online. In striking the balance between online freedom and social stability, India has encountered a higher degree of opprobrium in the public sphere than its counterpart.
    Nontraditional Security: Chinese and Indian approaches to both energy and the environment broadly converge. Because India and China face a rising domestic demand for energy, they heavily rely on foreign suppliers of energy resources. This has prompted both governments to seek more efficient power sources and to secure their presence in overseas energy markets. On environmental policy, the two countries focus on primarily local and short-term concerns that must be balanced with the need for economic growth.
    2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.
    Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.
    Measuring economic activity in a country or region provides insights into the economic well-being of its residents.

    Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.
    Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.
    3 . LOW LEVELS OF LIVING : Low productivity coupled with high rate of population growth and unemployment ruduces the standard of living of living in developing countries.
    LOW LEVEL OF PRODUCTIVITY : Developing countries usually engage in subsistence production which is characterized by the use of crude implements which result in low productivity. They largely depend on single export product for their foreign exchange earning.
    HIGH AND RAPID POPULATION GROWTH : There is high rate of population growth in developing countries while food production is not growing at the same rate. People suffer from malnutrition and diseases resulting in increase in death rate.
    HIGH RATE OF UNEMPLOYMENT : Factors of production are not fully utilized in developing countries. Many factors are lying idle or are underemployed. This accounts for low productivity.
    HIGH DEPENDENCY RATIO : Due to high level of unemployment, the large percentages of the population who are unemployed depend on the few working population for their living,thus reducing the standard of living.
    LOW PER CAPITA INCOME : Low productivity results in low national income which leads to low per capita income. This will result in low standard of living.
    LOW LEVEL OF TECHNOLOGICAL DEVELOPMENT : Modern techniques of production are not yet adopted in developing countries. Most production especially in agriculture is carried out with the use of crude implements. This also accounts for low productivity.
    4 . No doubt poverty remains a global challenge; the world bank estimates that 1.29 billion people live in absolute poverty and the sad fact is that 70% of them are women.
    This is as a result of many factors like the triple burden of child bearing, child rearing, domestic unpaid labour, lack of proper education, denial of growth opportunities, inadequate health care and simultaneously forced to live in the tight bind of culture and tradition.
    These characteristics and more points out that women constitute a majority of the poor and are often the poorest of the poor. These and more brought about the phrase ‘ poverty has the face of a woman”.
    YES I AGREE
    I agree to the motion that poverty has the face of a woman with these following reason;
    Their poverty is multidimensional; not only of lack of income but also of nutrition and health, they are denied education (The end product of a woman is in the kitchen) and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindset permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many. The risk of poverty grow in parallel with the number of women headed households. It’s no surprise that women are over represented among the poorest; discrimination against them occur in many level: health care, education. Unsurprisingly few poor women have hope escaping this poverty as they’re so many odds stacked against them. Despite laws that favor them, even richer women are regularly denied inheritances and more.

  101. Uche Miracle Chiamaka says:

    Name: Uche Miracle Chiamaka
    Reg No.: 2019/241948
    Department:Economics
    1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist.

    China and India are both major developing countries that have played a significant role in promoting the political emergence of other developing countries, also known as the “Third World.” Both countries have unique economic and political systems that have influenced the relationship between the Third World and the industrialized countries, capitalist and socialist.

    China has a socialist planned economy and a one-party political system. The Chinese Communist Party (CCP) has been in power since 1949, and during this time, the country has undergone rapid industrialization and economic development. China has been an important leader in the Third World, providing aid and investment to other developing countries and advocating for a more equitable global economic system.

    India, on the other hand, has a mixed economy and a multiparty democratic system. Since gaining independence from Britain in 1947, India has made significant strides in economic development and has become one of the fastest-growing major economies in the world. India has also played a major role in promoting the political emergence of other developing countries, particularly in the areas of democracy and human rights.

    Both China and India have also been active in international organizations such as the United Nations and the G20, using their influence to promote the interests of developing countries and push for a more fair and equitable global economic system.

    Overall, both nations have played a major role in promoting the political emergence of the Third World countries and in changing the relationship between the Third World and the industrialized countries, capitalist and socialist. They have different approach but both have been influential in shaping the global political and economic landscape.

    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.

    Traditionally, developing countries have been defined by their low Gross National Income (GNI) per capita. However, as the concept of development has evolved, so too have the criteria and indicators used to measure it.

    The United Nations, World Bank, and other Bretton Woods institutions have developed a range of indicators to measure development, including the Human Development Index (HDI), which takes into account factors such as life expectancy, education, and standard of living. The Multidimensional Poverty Index (MPI) also looks at multiple dimensions of poverty, including health, education, and living standards.

    Other indicators include the Gender Development Index (GDI) which measures gender inequalities in key development areas such as health, education, and economic participation, and the Gender Equality Index (GEI) which measures gender equality in specific areas such as work, politics, and power.

    Additionally, The United Nations also uses the Sustainable Development Goals (SDGs) as a measure of development, which is based on 17 goals that are interrelated and aim to achieve sustainable development in areas such as poverty, inequality, and environmental sustainability.

    Overall, while GNI per capita is still an important measure of economic development, it no longer serves as the sole indicator of a country’s overall level of development. Instead, a range of indicators is used to give a more comprehensive picture of a country’s progress and challenges.

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.

    Developing nations, also known as less developed countries (LDCs), share several common characteristics. Some of the most notable include:

    Low per capita income: Developing nations tend to have low levels of income per person, often as a result of low levels of economic development and industrialization.

    High levels of poverty and inequality: Many developing nations have high levels of poverty and inequality, with a large percentage of the population living in poverty and a small elite controlling a disproportionate amount of wealth.

    Dependence on agriculture and natural resources: Developing nations often have economies that are heavily dependent on agriculture and the extraction of natural resources, such as minerals and oil.

    High population growth: Developing nations often have high population growth rates, which can put a strain on resources and impede economic development.

    Low levels of human development: Developing nations tend to have lower levels of human development, as measured by indicators such as health, education, and living standards.

    Political instability: Developing nations often have a history of political instability, including frequent coups, civil war, and ethnic conflicts.

    High level of corruption: Developing nations often have high levels of corruption, which undermines the rule of law and can make it difficult for businesses to operate and for people to access basic services.

    Lack of infrastructure: Developing nations often have inadequate infrastructure, including poor transportation, limited access to electricity and clean water, and inadequate sanitation.

    Lack of access to technology: Developing nations tend to have lower levels of access to technology, which can limit economic growth and make it difficult for people to access information and communicate with the rest of the world.

    High debt: Developing nations often have high levels of debt, which can make it difficult for them to invest in economic development and improve the living standards of their people.

    4.It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?

    The statement that “poverty has the face of a woman” refers to the idea that women are disproportionately affected by poverty and inequality. This is often supported by data showing that women have lower rates of education, employment, and income compared to men, and are more likely to live in poverty.

    I, as a language model do not have the capability to agree or disagree but I can provide you with some of the reasons that support this statement.

    There are several factors that contribute to this phenomenon. One is the gender pay gap, which means that women are paid less than men for the same work. This puts women at a disadvantage when it comes to earning a living wage and supporting themselves and their families.

    Another factor is the lack of affordable childcare and other support services that make it difficult for women to balance work and family responsibilities. This can lead to women dropping out of the workforce or being unable to work as many hours as men, which can impact their earning potential.

    Additionally, women are often disproportionately represented in the informal economy, which tends to be low-paying and unstable. This can make it difficult for women to secure stable, well-paying jobs, and to build savings and assets.

    Overall, it is clear that poverty and inequality disproportionately affect women. However, it is important to note that poverty is not limited to women, as men and children can also be affected by poverty.

    It would be important to also address the underlying causes of poverty and inequality, such as discrimination, lack of access to education and healthcare, and inadequate social protections, in order to effectively address the issue.

  102. Tracy Emeto says:

    EMETO TRACY TOBECHUKWU
    2019/241571
    ECONOMICS MAJOR

    1. China and India are two nations that have played a major role in shaping the political and economic landscape of the Third World countries. Both countries have unique social and economic systems that have been sharply opposed to each other, and both have had a significant impact on the political emergence of Third World countries and on the relationship between the Third World and the industrialized countries.

    China, with its Communist system, has been a major proponent of socialist and anti-colonial movements in the Third World. The Chinese Communist Party has provided support and aid to Third World countries that were struggling against capitalist and colonial powers. This support has helped to promote the political emergence of Third World countries and has helped to change the relationship between the Third World and the industrialized countries.

    On the other hand, India, with its mixed economy and democracy, has been a major proponent of non-aligned and anti-colonial movements in the Third World. India’s non-aligned foreign policy has helped to promote the political emergence of Third World countries and has helped to change the relationship between the Third World and the industrialized countries.

    Both China and India have also had a significant impact on the economic relations between the Third World and the industrialized countries. China has been a major exporter of manufactured goods to the Third World, while India has been a major exporter of services to the Third World. Both countries have also been major recipients of foreign investment and aid from the industrialized countries.

    Overall, China and India have played a major role in promoting the political emergence of the Third World countries and in changing the relationship between the Third World and the industrialized countries. Their sharply opposed social and economic systems have provided different perspectives and approaches in addressing the challenges faced by the Third World countries.

    2. Yes, that is correct. The traditional measure of development, Gross National Income (GNI) per capita per year, is often used to classify countries as “developed” or “developing.” However, this measure has several limitations and does not fully capture the complexity of a country’s development status.

    As a result, other criteria and indicators have been developed to measure development and underdevelopment. These include measures of economic growth, poverty, inequality, health, education, and more.

    For instance, The United Nations Development Programme (UNDP) uses the Human Development Index (HDI) to measure development. The HDI is a composite measure that takes into account three dimensions of human development: health (measured by life expectancy), education (measured by years of schooling), and standard of living (measured by gross national income per capita).

    The World Bank uses the Multidimensional Poverty Index (MPI), which measures poverty by taking into account not only income, but also other factors such as health, education, and living standards.

    The Gini coefficient, another measure of inequality, is used to measure the distribution of income or wealth within a country, and it is widely used by international organizations and governments to evaluate the level of inequality.

    In addition to these measures, other indicators such as the Gender Development Index (GDI) and the Gender Empowerment Measure (GEM) are used to measure gender-specific development.

    Overall, while GNI per capita per year is still widely used as an indicator of development, it is important to consider multiple dimensions and indicators when evaluating a country’s development status.

    3. Developing nations, also known as less developed or low-income countries, share several common characteristics that distinguish them from developed nations. These characteristics include:

    Low income: Developing nations generally have lower levels of economic development and a lower standard of living compared to developed nations. This is often reflected in lower per capita income levels, as well as higher levels of poverty and inequality.
    High population growth: Developing nations typically have higher population growth rates than developed nations. This can put pressure on resources and infrastructure, as well as contribute to poverty and unemployment.
    Low levels of human development: Developing nations often have lower levels of human development, as measured by indicators such as life expectancy, literacy rates, and access to basic services such as healthcare and education.
    Dependence on primary commodities: Many developing nations are heavily dependent on the export of primary commodities such as oil, minerals, or agricultural products. This can make their economies vulnerable to fluctuations in commodity prices and create challenges for diversifying their economies.
    Weak institutions: Developing nations often have weak institutions, such as a weak judiciary, lack of rule of law, political instability, and corruption. This can make it difficult to attract investment and create a conducive environment for economic development.
    High level of external debt: Developing nations often have a high level of external debt, which can make it challenging for them to finance development projects and provide services to their citizens.
    Environmental degradation: Developing nations often face environmental degradation, including deforestation, desertification, and pollution, which can have negative impacts on health, economic development, and biodiversity.

    4. Poverty disproportionately affects women and girls in many parts of the world. This is due to a variety of factors, including discrimination based on gender, lack of access to education and job opportunities, and cultural norms that limit women’s ability to participate in the workforce.
    One of the key reasons why poverty has the face of a woman is the gender pay gap. Women tend to earn less than men for doing the same work, and this has a significant impact on their economic well-being. Additionally, women are more likely to be in low-paying jobs and to work in the informal sector, which often lacks benefits and job security.
    Another reason why poverty disproportionately affects women is that they often have primary responsibility for caring for children and other family members. This can limit their ability to participate in the workforce, as they may need to take time off to care for their loved ones. Additionally, women are often expected to provide for their families, which can put a strain on their finances.
    Finally, cultural norms and discrimination can also play a role in perpetuating poverty among women. In some cultures, women are not expected to work outside the home, and may not be educated or trained for certain jobs. Additionally, women may face discrimination in the workplace, which can limit their job opportunities and advancement.
    Overall, it is clear that poverty does disproportionately affect women and girls. It is important to take steps to address the underlying causes of this inequality, such as the gender pay gap and cultural norms that limit women’s participation in the workforce, in order to reduce poverty among women and improve their economic well-being.

  103. AUDU JACINTHA OCHANYA REG NO: 2019/246511 Department: Economics/ Philosophy says:

    Q1. As a result of decolonization, the UN at first numerically dominated by Europe communities and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, through the essentially academic debate. Despite that debate, the unity of the third world remain hypotheticallybpressed mainly from the platforms of international conference.
    Q2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.
    The criteria by UN takes into consideration of development indicators like Human development Index(HDI),and Human poverty Index (HPI). According to UN,Countries with high HDI are developed while countries with low HDI are less developed. Also,countries with low HPI are developed,while countries with high HPI are less developed.
    Q3. Low level of living: this simply means that a segment of the population of a country does not have adequate access to much wealth and basic services and amenities necessary for living, lack of food, shelter, clothing etc.
    Low levels of productivity: this means that resources are not being used to their highest and fulest capacity, that is they are not utilizing their skills and competences to their maximum potential which in turn increases a company’s resources costs.
    High rate of population growth: this occurs when the population of an economy or country exceeds the available resources to sustain and neet the basic need of the citizens in that economy.
    Traditional and rural social structure: traditional structures can hinder development due to lack of urbanization and acceptance of new innovations and ideas for the improvement of that particular region or economy.
    Wide spread poverty: this occurs when most regions in an economy are extremely poor occuring in most individuals. This state of poverty reduces the level of living making life extremely hard and un sustainable for individuals in those regions of the economy.
    Substancial dependence on agriculture: this implies to over dependence on agriculture mainly for consumption and not for commercial purposes. Even exporting of only agricultural products can limit a country’s development.
    Feeding the government: when the government extorts its citizens and uses the money for their own personal gain it leads to under development. Not meeting the need of the people by providing good roads, jobs, Infrastructure etc, leading to low level of living in the lives of the individuals in the economy.
    Increase in unemployment: this occurs when the number of youths in the economy are without jobs, this may lead to increase in crime thus hinders Development in that economy.
    Q4. I agree with the argument that ‘poverty has the face of a woman’. This is because in the society,it is known that men are born to provide for and protect there family, while the women are meant to support the husband. In the course of providing for a family or an individual need,the father or male does it better since it is more like a natural responsibility of all men. The woman in the other hand might find it hard in performing this function especially when she is acting as single mother. This is evident in the society. Most women after losing there husband finds life hard while being the bread winner of the family. They get affected mentally, physically and even emotionally,in some cases they end up losing their life due to the pressure and pain they go through.
    Another point is that, the society in most cases is unfair to the women. They are not given access to many Social activities such as Education, leadership etc that will bring out there innate ability. This impedes them from being able to function adequately in the course of fending for themselves. They are been made to depend solely on men which in most cases are there husband, for there survival.

  104. UCHEOMA DANIELLA CHIMDINDU says:

    UCHEOMA DANIELLA CHIMDINDU
    2019/241763
    ECONOMICS DEPARTMENT
    Danympompo123@gmail.com
    Answer 1
    The Bandung also known as the Afro-Asian conference in Indonesia 1955 is said to be one of the most important conferences held in the twentieth century. One important achievement of this conference is the beginning of the political emergence of the third world countries. On the 18th of April 1955 through the 24th, twenty-nine countries from Asia and Africa came together in Bandung Indonesia with India and China – two countries with opposing social and economic system at the forefront during the time of a cold war between the United State and The Soviet Union and a movement for decolonization to discuss the promotion of African and Asian economy as well as the opposition of colonialism and neocolonialism. The countries in attendance were the ones who had just gotten their independence from colonial rule and pledged their support for other countries yet to be independent of which are majorly African nations. It was a French writer Alfred Suavy who coined the term “Third World” to refer to these countries.
    The countries ensured that the decision they were going to arrive at was transparent and without bias for either of the countries involved in the war despite being enticed by the United State. The meeting was concluded on the 24th with the presentation of a document containing the declaration of world peace and cooperation. The communiqué entitled ten primary conclusions which also aided in the promotion of the third world political emergence.
    The declaration made at this conference had a major impact in the United Nations operations which was formerly dominated by European countries with England and France at the top. There was transformation which would then involve these countries to participate in the UN activities. Furthermore, the articulation of the political ideal of the third world was an alternative to the capitalist economic development of the United states and the Communist economic development of the Soviet Union.
    Answer 2
    The Gross National Income GNI is the sum of a country’s Gross Domestic Product GDP and net income from abroad. It shows the value produced by a country either domesticated or abroad and has been used to classify countries. Developing countries are defined according to their GNI per capita per year. According to the World Bank in 2015, these countries (developing countries) have GNI of $11,905 and less and in 2019 it was $12,275 and less. This has long been the way of classifying countries according to their economic performance however, it is exclusive of the general standard of living of the people living in these countries. The Bretton Woods institutions(involving The Unite Nations, World Bank, IMF, and so on) introduced criteria that should be involved while using an economic development indicator; it must give light to the living condition of the people in different dimensions of their lives.
    Indicators used by the Bretton Woods institutions include;
    I. The Human Development Index: Among the indicators used for measuring economic development of nations, this is the most common and is used majorly by the United Nations to measure the average achievements in three key dimensions of human development. They are the life expectancy index, Education index and income index. Nigeria has a low Human Development Index. It ranks 153rd with a HDI value of 0.471
    II. Consumer Price Index: This is supposed to show the cost of living for the citizens in the country and how it reflects on their standard of living. Developing countries always have very high CPI index showing how costly it is to live decently in the country. It measures the rate of inflation by determining price changes.
    III. Quality of Life Index: It is also known as the best place in the world to live.
    Answer 3:
    The general characteristics of developing countries reflect at the various dimensions of the country which is involved in and effects economic development. They include income distribution, political framework, family system, size of agriculture and industry, technology and capital and many more. Developing nations are characterized by poor performance in these areas and a slow paced improvement to attain the necessary development level. The general characteristics in these areas are;
    i. Income inequality: There is always a huge gap between the rich and the poor in developing nations with little or no planned schemes to curb this. This is because of the uneven distribution of income. This causes an uneven distribution of wealth leading to wealth inequality. Income Inequality is as a result of lack of employment and shortage in he national budget. It is accompanied by severe consequences such as social vices and even brain drain.
    ii. Low level of living: Most of the citizens do not have access to basic services and amenities as there is a high cost of living and sometimes no availability of these needs.
    iii. High rate of population: Developing countries are usually characterized with high rate of population growth because there is no planning. This in turn leads to an increase in poverty as there will be more growth in dependency and burden.
    iv. Rising unemployment: The unemployment rate in Nigeria is increasing yearly because of the poor management of the economy and the misuse of the country’s resources. This applies to every other developing country.
    v. Widespread of poverty: This is the effect of unemployment and uneven distribution of wealth

    Answer 4:

  105. Francis+chinedu+Michael says:

    2019/244161

    1.)The Bandung conference of 1955 led to the emergence of the third world. India
    played a major role in raising the voice of newly independent countries. As a result of
    independence movement, the United Nations, was gradually transformed into a third world
    forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
    Sri Lanka discussed peace, role of the Third World, economic development, and
    decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
    on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
    emergence of third world free from evils of capitalism and communism.
    Thus, the concept of the Third World was born. Communist China was one of the
    countries participating as the Third World Country rather than the Russian Soviet orbit. The
    1955 Bandung Conference was the first attempt at the creation and establishment of a third
    force in global politics. The term Third World was adopted to refer to a self-defining group
    of non-aligned states. The Bandung Conference played an important role in mobilizing the
    counter-hegemonic forces to be known as the Third World. There were other priority areas
    as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
    the United Nation .The conference also emphasis on the issues of increased cultural and
    technical cooperation between African and Asian governments along with the establishment
    for an economic development fund .It also raised its voice for the required support for
    human rights and the self-determinations of peoples and nations by the world community
    and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
    of perspective the international politics marked the emergence of a non-aligned bloc from
    the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
    bandung spirit is not detachment from the powerful Western countries, but non-aligned
    self helped organization against the powerful countries
    .The early 1960s were years of optimism in the Third World. Ghanaian prime minister
    Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
    place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
    democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
    its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
    politics and state planning to promote India‘s quest for political independence and economic
    autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
    and 1980s expanded and contracted as time progressed . The
    1961 Belgrade Non-Aligned Summit conference established an alternative platform for
    negotiating the diplomatic solidarity of countries which saw an advantage in
    advertising their autonomy from the rival superpower blocs. During the early 1960s,
    primary focus was directed towards mitigating the effects of the Cold War, ―as represented
    by the British and French invasion of the Suez, and the Russian invasion of Hungary in
    1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
    the next, the principle issues centered on problems of economic development, emerging
    due to intense uncertainty in the global economy
    . The 1960s and 70s, marked the great age of Third World rhetoric of common
    cause and common action.A significant event was the 1966 Tri-continental Conference
    of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
    across Asia, the Middle East, Africa and Latin America. This conference called for an
    increasingly radical anti-imperial agenda. During the 1970s, the
    collective identity of the majority of Latin American, Asian and African countries in
    international relations became expressed through demands for reform in the institutional
    structure of the international economy.The main thrust came from
    the Group of 77 (G77), which had been created at the first United Nations Conference on
    Trade and Development (UNCTAD) meeting held in 1964.
    2.
    Some examples of social indicators of development include:

    Education levels – for example how many years of schooling children have.

    Health – often measured by life expectancy.

    Employment Rates

    Gender equality

    Peacefulness

    Democracy

    Corruption

    Media freedoms

    Civil Rights

    Crime/ social unrest

    Suicide Rates

    Composite indicators of all of the above

    3.
    Even though developing nations have very different backgrounds in terms of resources, history, demography, religion and politics, they still share a few common characteristics.
    i. Low Per Capita Real Income
    Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
    It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
    ii. High Population Growth Rate
    Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
    iii. High Rates of Unemployment
    In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.

    iv. Dependence on Primary Sector
    Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
    v.Dependence on Exports of Primary Commodities
    Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.

    4.
    Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
    In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities . are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality.

  106. Ekwealor precious chiamaka says:

    Assignment
    1.By drawing a parallel with the third estate, the French demographer Alfred Sauvy created the phrase “tiers monde” in 1952.The third world, according to Sauvy, is nothing and aspires to be something. According to the phrase, the third world is exploited similarly to how the third estate was exploited, and just like the third estate, it is headed toward revolt. It also conveys Sauvy’s second thesis, which is that the third world is not aligned with either the industrialized capitalist world or the industrialized communist bloc.By the end of the 1950s, the phrase was frequently used in the french media to refer to the underdeveloped countries of Asia, Africa, Oceania, and Latin America. A group of social scientists affiliated with Sauvy’s National Institute of Demographic Studies in Paris published a book titled “tiers de monde” in 1956.

    2.A country’s discernible degree of progress is indicated by its HDI (Human Development Interest).Gross Domestic Product (GDP), which measures both domestically produced items and those exported to other nations, indicates a country’s level of development.The special drawing right(SDR) deflator is used as a measure of world inflation for annual adjustments to operational and analytical income threshold and world Bank Atlas method estimates of GNI per capita.

    3i.Low level of living:Individual couldn’t afford the basic necessities of life.They was high rate of malnutrition and sickness.
    ii.Low level of productivity:Resource and skills are not managed and utilize well.The wrong people are given jobs which makes them nonchalant they by causing low level of productivity.
    iii.High rate of population growth and dependency burden:Women tends to give birth to more children because they are jobless and end up being housewives.Individual depend on the Government for all their needs.
    iv.High and rising level of unemployment and under employment:Lack of good companies and industries tend to increase unemployment.Government should encourage individual to indulge in skill acquisition by providing seminars and skill acquisition centers.
    v.Widespread of poverty:A country that’s is underdeveloped tend to experience high rate of poverty because there’s is no job,population increases,cost of living is high and poor government.

    4..To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.

  107. 1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
    As a result of decolonization, the united nations at first numerically dominated by European countries and countries of European origin ,was gradually transformed into something if a third world forum
    With increasing urgency, the problem of underdevelopment then became the focus of a permanent, although essentially academic debate. Despite the debate, the unity of the third world remains hypothetical, expressed mainly from the platforms of international conferences.

    2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
    Rise in Real per Capita Income: One of the factors that measure the economic development of a nation is the rise in real per capita income.There’s a perception that whenever the income of individual increases than it’s real income increases.And when this happens the person is happy and prosperous. But there are some limitations to this.These limitations through per capita income do not determine whether the rise is due to equal distribution or unequal distribution.Same is the case with the quality of goods and services being provided and consumed. Further, the quality of public goods also affects economic welfare.
    Quality of Life and Expectancy: When the basic facilities like water, electricity, and housing are available to anyone that the quality of life is considered as good in that nation.Here the measuring factor is the needs of the people. These needs are basic needs like access to health, sanitation, education, nutrition, etc. For this, the main factor is the infant mortality rate. This is the death rate of a child who is less than a year old. While life expectancy is the average life of the population that lives.Real Gross National Product: As mentioned above, GNP, as well as GDP, are the measuring factors for economic development of a nation. Increase in both of these ensures that the larger availability of the good and services in that country. If this supports the standard of living of the people than it increases the economic conditions of the nation.But there are some limitations to this as well. Like the increase in the size of GDP does not directly means the more availability of services and goods. Whenever the GDP is calculated for the current prices, there may be an increase due to price rise. This does not mean the availability of goods and services have increased.
    Human Development Index: It includes several factors like long and healthy living, the welfare of the people, etc. This index also includes the standard of living of people, literacy rate, and purchasing power parity in terms of real income.
    Gender-related development index: This is popularly known as GDI. This is used to measure gender inequalities by measuring three basic dimensions of human development. They are education, health, and economic resources. They measure education by calculating expectancy years for schooling for males and females. While health measures the male and female life expectancy during the time of birth.
    Poverty Index: The poverty index which is otherwise called multidimensional poverty index aka MPI helps in identifying various factors. These various factors are health, the standard of living, and education

    3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
    1. Low Per Capita Real Income: Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments. It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
    2. High Population Growth Rate: Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
    3. High Rates of Unemployment: In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
    4. Dependence on Primary Sector: Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
    5. Dependence on Exports of Primary Commodities: Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.

    4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
    In my own opinion,I would agree with the fact that poverty has the face of a woman. This is because the female gender looks weaker than their male counterparts. Women face the responsibilities of child bearing and taking care of their children and making sacrifices for them to get quality education, living comfortably and providing basic needs for her children at her own expense therefore looking tattered and stressed.
    Men are always not bothered babysitting their children, they go out leaving the woman alone the sole responsibility of taking care of children. This is why in most cases, you would always see pictures of women and their malnourished children looking for aid.
    In some parts of Africa, women are being the right to education because they see it as a waste of resources since she would still end up in her husband’s house and therefore become a complete housewife. In areas of education, the girls has always been suffering more than boys because we get to see situations whereby parents drop out their female daughters from school and allow the males to continue due to lack of funds/finances.
    Poverty wears the face of a woman because women don’t have say and are alway forced into early marriages with little or no knowledge about marriage and end up giving birth to 10 children after 10 years of marriage.
    In conclusion, poverty has a female face and the global economic downturn will have a significant impact on women as more of them lose jobs, and are forced to manage shrinking households.

  108. Agbo Annastecia onyedikachi says:

    [1/26, 22:15] Annie Stacy ✨: NAME: AGBO ANNASTECIA ONYEDIKACHI
    REG NO: 2019/246655
    DEPARTMENT: SOCIAL SCIENCE EDUCATION
    UNIT: ECONOMIC EDUCATION
    COURSE TITLE DEVELOPMENT ECONOMICS
    COURSE CODE:ECO 361
    TOPIC: DEVELOPING COUNTRIES
    ANSWERS
    1. CHINA AND INDIA MAJOR ROLE IN THIRD WORLD:
    The global economy is undergoing a profound and momentous shift. The first half of the 21st century will undoubtedly be dominated by the con- sequences of a new Asian dynamism China is likely 10 become the second biggest economy in the world by 2016, and India the third largest by 2035, A cluster of other countries in the Asian region, such as Thailand and Vietnam, are also growing rapidly These newly dynamic Asian economies can collectively be characterised as the “Asian Drivers of Global Change”. The economic processes they engender are likely to radically transform regional and global economic, political and social interactions and to have a major impact on the environment. This is a critical “disruption” to the global economic and political order that has held sway for the past five decades. It is reshaping the world as we know it, beralding a new “Global-Asian” era.
    ROLE OF CHINA AND INDIA FOR GLOBAL CHANGE
    As mentioned above, the two key Asian Driver economies are China and India. But they reflect very different growth paths. China is integrated into an outward-oriented regional economy, involving fine divisions of labour in many sectors. By contrast (at least until now) India represents much more of a “standalone” economic system. Yet, not with standing these differences in structure, they pose major and distinct challenges for the global and developing economies,
    As China and India are currently integrating more than one billion people into the from the higher purchasing power of their incomes thanks to lower prices for labour-rich products from China and India may indeed be damaging for some local producers, goods. To be sure, such analysis ignores opportunities for diversification away from especially labour-intensive local industries such as garment, thus impairing thetraditional exports, i.e. potential rather than actual competition. Imports of specific less prominent in Africa than in other developing regions; and urban consumers benefit
    prices of which are dropping. However, labour-intensive manufacturing industries are global labour pool, competition is intensifying in tradable labour-rich goods, the relative development of nascent non traditional industries and putting diversification prospects in jeopardy.
    2. DEVELOPING COUNTRIES
    The countries in which the process of development has started but is not completed, have a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards, fulfillment of basic needs, and so on. The UN identifies developing countries as a country with a relatively low standard of living, underdeveloped industrial bases, and moderate to low human development index. Therefore, developing nations are those nations of the world, which have lower per capita income as compared to developed nations like the USA, Germany, China, Japan, etc. Here we will discuss the different characteristics of developing countries of the world. Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
    Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
    The main social indicators of development include education, health,employment rates and gender equality. Some examples of social indicators of devel