ECONOMICS

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TheAmerican economy is on a decline. This has been portrayed by fewillustrations that the article talks about. American child povertylevels are in the worst ever. This is far worse than Greece that hasbeen doing badly due to the Euro crisis that has dents its image. TheObamacare has brought about more dangers for insurance firm thannever before. Most have been claiming that they will have to pull outof this service to ensure their company thrives (Jones, 2009).

Theunemployment rate has been growing steadily with a lot of jobs goingeast where manufacturing has been cheap and this makes their productaffordable and also creates employment. Since recession The Americangovernment has been at the forefront in enacting laws that are goodand also the checks and regulation have improved. In Education andskills, America ranks 16th of the 23 developed country. This has beena tough call for the government that are claiming that they arepreparing the young adults for the future while different countrieslike China are competitively trying to edge out America as the superpower. This article isrelevant in guiding the American statistics in where they are headingwhat they want and what they should do to be competitive in this dayand age. There are certain suggestions that can work wonders for thiscountry. One is always to strive and revive the manufacturingindustry. The second one is changing the tax system as this worksmore to bring inequality than entrepreneurship in the long run. It isthrough these suggestions that can make the economy stronger thanbefore.[ CITATION Har09 l 1033 ]

REFERENCES

Jones, H. (2009). The Dynamics in The World Today. NewYork: Pearson.

Economics

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Discriminationof women is still a real problem in our societies in the world today.Many efforts have been put forward to ensure women are empoweredeconomically in our societies today. In fact, many countries have putup measures that will help women grow themselves economically. Themillennium development goals have gone a long way in ensuring womenare economically comically through many ways such as girl attainmentof education and seminars specifically organized for women to trainthem on investment. For example, some countries have introduced womenbanking to advance financial assistance to our women. Also, in somecountries, women have introduced credit banks and microfinance banksso that they can have the ability to access loan facilities. Theloans go a long way in helping them to invest in long-terminvestments.

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However,this has not helped much as women are still being discriminated. Intruth, the discrimination of women still goes on because of the majorobstacle placed on women in our societies. The major obstacle isculture. The discrimination is particularly what the society perceiveof women for a long time. There are many cultural practices thatwomen have to undergo which goes a long way in discriminating them.In Africa for example, female genital mutilation is still inpractice. It is something the culture has placed on the women thatare inherited from generation to generation. Many communities inAfrica still circumcise women terming it as a way of graduating intoadulthood. Another good example is the Middle East where they”honor killings.” In fact, girls are killed when they engage insexual activities before sex, homosexual practices and wearingprovocatively. That derails the economic growth of women in thesociety because their population is greatly decreased through thosehonored killings that is an unfair treatment of women in our society.Also, the girl child education has not been given the main attentionmajorly in the Saharan countries. Only the boy-child education isemphasized. Hence, many girls end up lacking education that will havegone a long way to empower them economically. In Saud I Arabia forexample, women are not allowed to drive. That is too critical becausediscriminating women on doing some job opportunities willautomatically not help women grow economically.

Discriminationof women is not only in other parts of the country but also in theUnited States of America. There are many cases where some women aremore educated than their male counterparts, more skilled than theirmale counterparts again and do a much better work than their malecounterparts but are paid less money in comparison to their malecounterparts. That is due to the cultural belief of the supremacy ofmen in the society. Hence, this derails the economic empowerment ofthe women in our society as well as their economic growth.

Manymeasures have been put forward to ensure women attain the sameeconomic empowerment. Many countries have adopted quotas in responseto the continuing underrepresentation of women in many sectors, frompolitics and science to the corporate boardroom and more specificallyin the economic sector. Close to one hundred countries have adoptedgender quotas in the economic sector, political sector and sciencesector with the hope that quotas will have long- term impact onwomen’s labor market outcomes over and above the prompt effect onleaders’ gender balance. That is because the first women who becameleaders shaped their both children’s beliefs and parent`s beliefsabout what women can achieve economically through their policies andor through a direct role model impact. In turn, this may increasetheir aspirations and shape educational and career choices.

Secondly,the UN Millennium Project Task Force on Education and Gender Equalityhas identified key strategic priorities that are significant inempowering women and alter the historical legacy of femaledisadvantages arising from cultural matters that for a long timeremain in most societies in the world. First, the governments orbodies responsible should strengthen opportunities for post-primaryeducation for girls. Secondly, they should guarantee girls propertyand inheritance rights. Thirdly is to invest in infrastructure tominimize women’s and girl’s time burden rights. The fourthpriority is to guarantee women’s and girls’ property andinheritance rights. The fifth priority is to eliminate genderinequality completely in employment. In eliminating inequality, thebodies responsible should decrease the women’s’ overreliance oninformal employment and appreciate formal employment. The womencommunity would be able to grow economically through embracing formalemployment. There should also close the in earnings so that women andmen in the same profession get the same earnings. The bodiesresponsible should reduce occupational segregation so as to empowereconomically women in the societies and the world as a whole. Thesixth priority in empowering women economically is through theincrease in the women’ share of seats in national assembly’s nodgovernment bodies. That would go a greater way in ensuring women groweconomically. Lastly, the various countries should combat violenceagainst women and girls. For example by enacting laws that prohibitany abuse to a woman.

Kidnappingwomen are some evils of gender chauvinism. Initially, China did nothave a one child policy that purely impaired it`s already male bias.The movie &quotThe missing girls&quot did a good work ofhighlighting the imbalance that results from the oppression throughan abandonment of newborn girl’s abductions, prostitution of olderwomen and specifically kidnapping girls. All this girls have resultedin a gender imbalance in China’s population. The phenomenon ofmissing girls has transformed China into a giant market for humantraffickers. The trafficker’s lure children or kidnap women andsell them into commercial sex and forced marriages. In ending this,the government should change or end the deeply rooted son preferenceideology

Indiaand China are enjoying a period of exceptional growth. The twocountries China and India have seen falling poverty in their reformperiods though to varying degrees and for different reasons.Historically China had original favorable conditions for quickpoverty decrease through market-led economic growth. Also, the outsetof the reform process where many distortions have been in removal anda relatively low inequality of efficient access to the opportunitiesso created though inequality has risen markedly since the 1900s. Allthe two countries have boarded on programs of market-orientedeconomic reforms. China was the first to embrace this, where 25 yearsof a controlled economy left large capability gains from reform bythe time that process started in the late 1970s. On the other hand,India followed in earnest in the early to mid-1990s, though there hadbeen tentative earlier struggles at reform. India has embraced aninward looking and public sector driven industrialization strategythat has led to the growth of the economy at a first increasing ratethan any other country in the world. Conversely, the povertyreduction rates have been very high. In fact higher than any othercountry in the world. The economy of India has responded so well tothe reforms in the industrialization sector, and the government ofIndia has made it a clear goal to accelerate the country’s humanresources. The reforms have gone a long way in reducing the country’high continuous fiscal deficits, overcame its incredibleinfrastructure problems and improved the efficiency of its financialsystem and liberalized portions of the economy that remain hugelyregulated. The liberalized sectors of the economy are agriculture,small scale industry, and urban land markets. That has gone a longway in reducing poverty as people earn more income as compared to theprevious years. Also, the government of India has redirected largeresources to major sectors like infrastructure and education.Redirecting a lot of resources to education has been more of a longterm battle in reducing poverty in India. In fact, these reforms havemade India progress regarding growth and a high reduction in povertyreduction rates.

China,on the other hand, has witnessed a reduction in poverty as a resultof rapid growth in the economy and increased urbanization. The rapidgrowth of the economy is a result of increased industrialization inthe country. A lot of resources have been directed to developindustries in the country. On the other hand, just like India, Chinahas directed a lot of resources to education .education progress isin view as a long-term tool for reducing poverty in the country.Also, China has adopted investing in long term projects as opposed tosingle year projects that were incapable of overcoming poverty in theworst poverty stricken areas.China had the highest growth rate, aswell as the highest rate of poverty in the 1993 period because of theincreased reduction as a result of the stronger participatory projectas well as targeting projects more directly to the poor, particularlyin those remote areas, ethnic minority communities and the disabled.Also, the higher growth rates have been witnessed as a result ofChina’s partnership with the International Bank for Reconstructionand development (IBRD). The long history of the international bankhas made it easier for China to reduce poverty rates. TheInternational Bank for Reconstruction and Development incollaboration with China has explored new poverty reduction rates,including improving ways of targeting the poor in the society. Thebank has also enhanced the comprehension of the changingdistribution, nature and causes of rural poverty in China andincreased poverty monitoring capacity. In fact, China has a solidpoverty evaluation and mapping capability. Also, the bank hassucceeded in contributing to informed public policy making that hasmade it possible for the country to adopt a multi-sector approach inits poverty reduction program. These reform programs have made itpossible for China to reduce its poverty rates as compared to othercountries.

Thetwo countries China and India have reduced their poverty ratesdrastically. However, inequality has increased, and remaining povertyhas been in concentration in the rural areas China, for example,focused more on urbanization in the reduction measures leaving outthe rural areas, the smaller ethnic groups and the disabled in thesociety. As much as India’s poverty rates have dropped drastically,but still it has some of the poorest people in the world. That meansthere are a lot of inequalities when targeting groups of people inthe society. While positively impressive in the aggregate, China’sprogress against poverty has been uneven over time and space.Progress was far greater in some periods of the early 1980s andmid-1990s) than others (the late 980s). And far more progress wasmade in coastal than inland areas. This difference contains somelessons for China and other countries hoping to rival China’ssuccess against poverty.Also, a significant role was played by thegeographic and sectoral pattern of growth. Like most developingcountries like India, living standards tend to be lower in ruralareas of China, but the country’s inequalities between rural andurban areas are particularly large. Around 1980, the chance of beingpoor in China was about nine times higher in rural areas than urbanareas. Thus, it was very crucial that the reforms were in place inthe rural economy.

Nationalhousehold surveys are the tool for measuring poverty andinequalities. Poverty is measured using the headcount index, namelythe percentage of the population living in households with income perperson below the poverty lines.

Toreduce inequality the government of China and India have implementedthe sequences of programs to identify and access those who have notgotten the full benefits of China’s rapid growth particularly thosein the rural areas, those from small ethnic tribes and the disabledin the society. Before 1990, China’s poverty reduction programdepended basically on a single sector and single year projects thathad no ability to overcome poverty in the worst-affected areas. Also,the statistical system used to assess where the poor were in locationwas limited.

Thereare many government policies that impact on inequality. The firstpolicy is the focus of the government on single year projects insteadof focusing on long term projects. Secondly the governments mainlyfocus on urbanization and industrialization in urban areas. Peopleliving in rural areas are thus neglected. . China, for example,focused more on urbanization in the reduction measures leaving outthe rural areas, the smaller ethnic groups and the disabled in thesociety. As much as India’s poverty rates have dropped drastically,but still it has some of the poorest people in the world. That meansthere are a lot of inequalities when targeting groups of people inthe society. While positively impressive in the aggregate, China’sprogress against poverty has been uneven over time and space.Progress was far greater in some periods of the early 1980s andmid-1990s) than others (the late 980s). And far more progress wasmade in coastal than inland areas. This difference contains somelessons for China and other countries hoping to rival China’ssuccess against poverty.

References

References

A.S.Bhalla. (2012). Poverty and Exclusion of Minorities in China andIndia. Palgrave Macmillan.

Asimakopoulos,J. (2014). Social Structures of Direct Democracy: On the PoliticalEconomy of Equality. BRILL.

Das,D. K. (2007). China and India: A Tale of Two Economies. Routledge.

Gregory,R. F. (2003). Women and Workplace Discrimination: Overcoming Barriersto Gender Equalit. Rutgers University Press.

Howard-Byrd,S. T. (2008). Gender and age discrimination among women in thebroadcast news industry. Edwin Mellen Press.

India,T. P. (2007). The Power of TV: Cable Television and Women`s Status inIndia. National Bureau of Economic Research.

Malik,B. B. (2009). Poverty in India: Fundamental Issues : a Social SciencePerspective. Mittal Publications, .

Societies,T. D. (2005). The Domestication of Women: Discrimination inDeveloping Societies. Routledge.

Economics

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1

Theconcept of convergence explains how countries that have much lowerGDP per capita will grow faster than richer countries. Theillustration below compares real GDP for Mexico and Guatemala againstthat of United States. The USA’s real GDP will be considered torepresent the global or regional standard of living. The convergenceconcept was initially discussed in the neoclassical growth theory.The summary below shows the average real GDP for the three countriesunder consideration [ CITATION Jam02 l 1033 ].

United States

Mexico

Guatemala

9,936.54

689.54

24.75

Thecomparison takes into consideration real GDP from 1969 to 2014. Thereal GDP of a country is equivalent to the total expenditures of allthe final goods and services produced in a country within astipulated period. Mexico’s GDP has been increasing steadily. Thecountry’s economy was not affected by the 1994 crisis and the 2002South America Crisis. However, the 2008 recession had a significantimpact on the growth of Mexico’s DGP. The real GDP dropped by morethan 6%.

Onthe other hand, Guatemala’s real GDP has been affected by thepolitical unrest resulting to prolonged civil wars. A CentralAmerican Free Trade Agreement (CAFTA) signed on 1stJuly 2006 spurred the economic growth in Guatemala. However,Guatemala has a very poor income distribution. At least 12% of thepopulation is living below the international poverty line [ CITATION Jam02 l 1033 ].

Thetable below shows the convergence between Mexico and USA andGuatemala and USA. On average, the ratio between Mexico’s GDP andthat of USA is approximately 7%. The ratio indicates that USA has aGDP that is 90 times more than that of Mexico. The Mexican economicpolicy institutions aim at minimizing the huge gap through focusingon international trade theories and addressing critical contemporarypolicy issues. Guatemala’s real GDP is very low compared to that ofUSA.

Reference

Adkisson, J. T. (2002). United States – Mexico Income Convergence? Journal of Economic Issues Vol XXXVI No. 2 June, 423-430.

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