HIST 122: Section 6 (Overview; Development: Asian Tigers; Underdevelopment: Congo-Zaire)

-Measuring Poverty (Gross Domestic Product--GDP; Human Development Index--HDI)-Theories on the Origins of Poverty (Resources? Oil Curse; Environmental Degradation; landlocked / Colonial Legacy; Dependency Theory; Terms of Trade / Bad Governance; Corruption; War; Brain Drain)-Solutions (Debt Forgiveness; Foreign Aid [.7% GDP]; Fair Trade / Free Markets; Export-based takeoff / Also: Micro-Lending; Remittances).

-the broadest quantitative measure of a nation's total economic activity; represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time (per Capita).-measures how rich/poor a country is [U.S.: $50,000; Poor country (Chad): $500].

-Rich: U.S., Canada, Taiwan, Japan, South Korea, Australia, Britain (Western Europe), Saudi Arabi [oil].-Poor: Central Africa (Niger, Chad, Congo, etc.), Pakistan, India (South/Southeast Asia), Haiti.

The "Iron Curtain"

-a composite statistic (composite index) of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development. -broad based than GDP (how well average person lives--access to clean water, how many woman die to child birth, what the life expectancy of a person is, etc.).

An economic theory that states that the exchange rate between two countries is equal to the ratio of the currencies' respective purchasing power.

The misuse of public power for private benefit; the CPI currently ranks 176 countries "on a scale from 100 (very clean) to 0 (highly corrupt)."

-losing best people due to immigration-a slang term for a significant emigration of educated or talented individuals; can result from turmoil within a nation, from there being better professional opportunities in other countries or from people seeking a better standard of living.

Synonym of colonialism; referred to as a process in which a strong country takes over the control (legal, social and political) of a weaker country at their will.

Occurs when a government creditor entity in one economy formally agrees with a debtor entity in another to forgive (extinguish) all, or part, of the obligation of the debtor entity to the creditor, the amount forgiven is treated as a capital transfer from the creditor

-(Seattle, Washington, etc.) pay more than prevailing prices to farmers.-trade in which fair prices are paid to producers in developing countries.

-better job opportunities-government/leaders (freedom)--democratic

-from Sudan; anti-corruption-set up the Mo Ibrahim Foundation to encourage better governance in Africa, as well as creating the Mo Ibrahim Index, to evaluate nations' performance.

-from Bangladesh (next to India); micro-lending ("small bits"); won Nobel Peace Prize-A professor of economics that won a Nobel Peace Prize in 2006 for his efforts in developing social and economic improvements through microcredit operations.

-Japan (WWII: Defeat and Bombing)-South Korea: (WWII: Japanese Annexation and Comfort Women; Korean War--1950-1953)-China (WWII: Japanese Invasion; Great Leap Forward) Seoul 1953; Tokyo 1945; Mao's Great Leap Forward.