Choose an article related to Economics in S.E./Central Asia. Comment on how it relates to Economics and its significance to our study of Econ this year. DUE FRIDAY 24 AUGUST 2012.
I chose this article because this article has a very weird aspect to it. The article says that the economy of Thailand has improved but they say that the Thai Economists are very resilient which confused me a lot. I chose this article because, first of all, we live in Thailand. Second of all, people should know about the economy of the country they reside in. I also thought this article was significant to our class because we are going learn how the stock market works and we will get to know why a stock market crashes. I thought this article might be a good one to start at.
Summary: Workers in Asia are benefiting less than they might have expected due to 'rapid, labor-saving technological progress'. Tremendous growth in technology has taken the jobs many. Due to these advancements, Asia has fewer jobs left to offer.
Comment on how it relates to Economics and its significance to our study of Economics this year. Unemployment effects the economy in ways that most people do not visually see. If more people are unemployed, less people pay taxes or have money for spending. Spending money boosts the economy through taxes which is why everything is taxed. The taxed money adds up when everyone shops. If one is unemployed, they live on what is saved or what unemployment departments give them. Therefore, they do not have money to be frivolous, they only buy necessities. This article is especially significant to our study of Economics this year because we are all members of Southeast Asia. This article direct affects us. This article also holds a lot of the topics we will be studying throughout the year, such as unemployment rates.
Article: http://edition.cnn.com/2012/08/17/business/world-rich-list-singapore/index.html Looking at the economics growth of the countries, it is predicted that Asia will have the richest residents by 2050 with Singapore leading the list, followed by Hong Kong, Taiwan and South Korea. In the next 40 years, European economies are expected to grow the least. This article relates to economics because the predictions in this article are made by looking at the fastest growing economies. Economic growth is important because it increases the standard of living and lowers unemployment. This article is also significant to our study of economics because we will be learning and looking at the factors of economics growth such as demand of the people, wages, and technology improvements. Furthermore, we are living in Asia where seven of the top 10 fastest growing economies will be.
http://www.bbc.co.uk/news/business-19314739
ReplyDeleteI chose this article because this article has a very weird aspect to it. The article says that the economy of Thailand has improved but they say that the Thai Economists are very resilient which confused me a lot. I chose this article because, first of all, we live in Thailand. Second of all, people should know about the economy of the country they reside in. I also thought this article was significant to our class because we are going learn how the stock market works and we will get to know why a stock market crashes. I thought this article might be a good one to start at.
Satyajit (Jit) Patil
ReplyDeleteArticle: http://www.economist.com/node/21552610
Summary:
Workers in Asia are benefiting less than they might have expected due to 'rapid, labor-saving technological progress'. Tremendous growth in technology has taken the jobs many. Due to these advancements, Asia has fewer jobs left to offer.
Comment on how it relates to Economics and its significance to our study of Economics this year.
Unemployment effects the economy in ways that most people do not visually see. If more people are unemployed, less people pay taxes or have money for spending. Spending money boosts the economy through taxes which is why everything is taxed. The taxed money adds up when everyone shops. If one is unemployed, they live on what is saved or what unemployment departments give them. Therefore, they do not have money to be frivolous, they only buy necessities.
This article is especially significant to our study of Economics this year because we are all members of Southeast Asia. This article direct affects us. This article also holds a lot of the topics we will be studying throughout the year, such as unemployment rates.
Article: http://edition.cnn.com/2012/08/17/business/world-rich-list-singapore/index.html
ReplyDeleteLooking at the economics growth of the countries, it is predicted that Asia will have the richest residents by 2050 with Singapore leading the list, followed by Hong Kong, Taiwan and South Korea. In the next 40 years, European economies are expected to grow the least.
This article relates to economics because the predictions in this article are made by looking at the fastest growing economies. Economic growth is important because it increases the standard of living and lowers unemployment. This article is also significant to our study of economics because we will be learning and looking at the factors of economics growth such as demand of the people, wages, and technology improvements. Furthermore, we are living in Asia where seven of the top 10 fastest growing economies will be.
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