Australia—The Hidden Jewel

2018 ◽  
Author(s):  
Mahesh K. Joshi ◽  
J.R. Klein
Keyword(s):  
Natural Resources ◽  
Value Chain ◽  
Global Economy ◽  
Good Governance ◽  
Developing Economies ◽  
Raw Materials ◽  
Manufacturing Sector ◽  
Developed Countries ◽  
The United States ◽  
Dutch Disease

The twenty-first century is being touted as the Asian century. With its stable economy, good governance, education system, and above all the abundant natural resources, will Australia to take its place in the global economy by becoming more entrepreneurial and accelerating its rate of growth, or will it get infected with the so-called Dutch disease? It has been successful in managing trade ties with fast-developing economies like China and India as well as developed countries like the United States. It has participated in the growth of China by providing iron ore and coal. Because it is a low-risk country, it has enabled inflow of large foreign capital investments. A lot will depend on its capability and willingness to invest the capital available in entrepreneurial ventures, its ability to capture the full value chain of natural resources, and to export the finished products instead of raw materials, while building a robust manufacturing sector.

scholarly journals How Can National Competitiveness of Less Developed Countries be Enhanced? : A Case Study of Laos

2021 ◽  
Author(s):  
◽  
Phoxai Inthaboualy
Keyword(s):  
Natural Resources ◽  
Global Economy ◽  
Developing Economies ◽  
Critical Role ◽  
Developed Countries ◽  
Less Developed Countries ◽  
Global Integration ◽  
Factor Endowments ◽  
National Competitiveness ◽  
The Government

<p>The current literature focuses primarily on the national competitiveness of developed or developing economies. However, minimal research exists on understanding the national competitiveness of less developed countries (LDCs) whose strengths in factor endowments, government institutions and the extent of global integration are not the same as those of developed or developing countries. This study aims to fill this research gap by exploring factors contributing to the competitiveness of Laos. Laos is a small, poor and land-locked country in Southeast Asia with rich natural resources. To achieve the study objectives, 20 semi-structured interviews were conducted with senior government officials, industrial representatives, professors and NGOs in Laos. The findings suggest three key factors are critical for enhancing Lao competitiveness: factor endowments, the role of government, and global integration. Laos‘ factor endowments include hydropower, mining, agriculture, garment and textile industries, and services. Laos is interacting more with the global economy as it gets set to embrace membership of the World Trade Organisation after approximately 15 years of membership of ASEAN. The government is playing a critical role by developing Lao factor endowments and developing policies required for global integration. However, the country faces challenges of value addition to the existing natural resources, developing and leveraging human capital, and further improvement in rules and regulations.</p>

scholarly journals How Can National Competitiveness of Less Developed Countries be Enhanced? : A Case Study of Laos

2021 ◽  
Author(s):  
◽  
Phoxai Inthaboualy
Keyword(s):  
Natural Resources ◽  
Global Economy ◽  
Developing Economies ◽  
Critical Role ◽  
Developed Countries ◽  
Less Developed Countries ◽  
Global Integration ◽  
Factor Endowments ◽  
National Competitiveness ◽  
The Government

<p>The current literature focuses primarily on the national competitiveness of developed or developing economies. However, minimal research exists on understanding the national competitiveness of less developed countries (LDCs) whose strengths in factor endowments, government institutions and the extent of global integration are not the same as those of developed or developing countries. This study aims to fill this research gap by exploring factors contributing to the competitiveness of Laos. Laos is a small, poor and land-locked country in Southeast Asia with rich natural resources. To achieve the study objectives, 20 semi-structured interviews were conducted with senior government officials, industrial representatives, professors and NGOs in Laos. The findings suggest three key factors are critical for enhancing Lao competitiveness: factor endowments, the role of government, and global integration. Laos‘ factor endowments include hydropower, mining, agriculture, garment and textile industries, and services. Laos is interacting more with the global economy as it gets set to embrace membership of the World Trade Organisation after approximately 15 years of membership of ASEAN. The government is playing a critical role by developing Lao factor endowments and developing policies required for global integration. However, the country faces challenges of value addition to the existing natural resources, developing and leveraging human capital, and further improvement in rules and regulations.</p>

scholarly journals Is the Resource Curse Thesis Affect Only Least Developed Countries? Examples from Resource-Rich Developed Countries

2021 ◽  
Author(s):  
Harun Bal ◽  
Berk Palandökenlier
Keyword(s):  
Natural Resources ◽  
Resource Curse ◽  
Economic Recession ◽  
Developed Countries ◽  
The United States ◽  
Dutch Disease ◽  
Least Developed Countries ◽  
Negative Effects ◽  
Developed Country ◽  
Indirect Transmission

Whether the Dutch Disease thesis, which is one of the best-known economic explanations on this subject, which puts forward the thesis that countries rich in natural resources can have negative effects on long-term economic growth, directly or indirectly, depending on the way they are used, is valid or not. tried to be demonstrated. The Dutch disease thesis is one of the main explanations for resource misfortune, emphasizing the negative effects of resource abundance on the national economy in countries with rich resource endowments and pointing to a paradox that economic conditions will be better in countries that do not have relatively little (or scarce) natural resources. is happening. Therefore, in our study, it is aimed to investigate whether resource richness causes an economic recession or not, especially for developed countries by considering indirect transmission channels. In this context, 11 developed countries such as Netherlands, Norway, Ireland, Germany, New Zealand, the United States of America, Canada, Australia, Poland, the United Kingdom, and Denmark, between 1990 and 2019, are based on the experiences of developed countries, which are especially rich in different sources of Dutch Disease syndrome. The country has been researched with static and dynamic panel analysis methods. As a result of the estimation, findings were found that the Dutch Disease was partially valid in terms of developed country samples throughout the sample period considered.

United States and Its Challenge to Multilateralism in the Global Economy

2018 ◽  
Vol 74 (4) ◽  
pp. 402-419
Author(s):  
Krishnakumar S.
Keyword(s):  
United States ◽  
Global Economy ◽  
World Economy ◽  
Foreign Exchange Market ◽  
Bilateral Trade ◽  
Developing Economies ◽  
The United States ◽  
The Us ◽  
The World ◽  
Merchandise Trade

With Donald Trump as President of United States, multilateralism in the world economy is facing an unprecedented challenge. The international economic institutions that have evolved since the fifties are increasingly under the risk of being undermined. With the growing assertion of the emerging and developing economies in the international fora, United States is increasingly sceptical of its ability to maneuvre such institutions to suit its own purpose. This is particularly true with respect to WTO, based on “one country one vote” system. The tariff rate hikes initiated by the leader country in the recent past pose a serious challenge to the multilateral trading system. The paper tries to undertake a critical overview of the US pre-occupation of targeting economies on the basis of the bilateral merchandise trade surpluses of countries, through the trade legislations like Omnibus Act and Trade Facilitation Act. These legislations not only ignore the growing share of the United States in the growing invisibles trade in the world economy, but also read too much into the bilateral trade surpluses of economies with United States and the intervention done by them in the foreign exchange market.

Status of the Development and Application of Oil Sand

2012 ◽  
Vol 562-564 ◽  
pp. 367-370
Author(s):  
Jia He Chen
Keyword(s):  
Oil Sands ◽  
Former Soviet Union ◽  
Global Economy ◽  
Raw Materials ◽  
Rapid Development ◽  
The United States ◽  
Oil Sand ◽  
Unconventional Oil ◽  
Oil Resources ◽  
Conventional Oil

Oil and natural gas are important energy and chemical raw materials, its resources are gradually reduced. With the rapid development of the global economy, the conventional oil resources can’t meet the rapid growth of oil demand, people began turning to unconventional oil resources, one of which is the oil sands. Oil sands is unconventional oil resources, if its proven reserves are converted into oil, it will be much larger than the world's proven oil reserves. Canadian oil sands reserves stand ahead in the world, followed by the former Soviet Union, Venezuela, the United States and China. However, due to its special properties, different mining and processing technology, and higher mining costs compared with conventional oil, the research of oil sands makes slow progress. At present, due to the rising of world oil price, oil sands mining technology have attracted more and more attention, and have developed a lot.

Sustainable Manufacturing in the Era of Industry 4.0

2021 ◽  
pp. 1807-1815
Author(s):  
Ravinder Kumar
Keyword(s):  
Information Technology ◽  
Natural Resources ◽  
Industry 4.0 ◽  
Developing Economies ◽  
Manufacturing Sector ◽  
Sustainable Manufacturing ◽  
International Level ◽  
Cause And Effect ◽  
Manufacturing Organizations ◽  
Effective Analysis

This is an era of information technology and Industry 4.0 in the manufacturing sector. Globalization and spread of technology have leveled the field of competition among all economies. With aforementioned development, there is a need for sustainable manufacturing practices to justify the use of natural resources all over the globe. Both developed and developing economies should adopt the sustainable practices of manufacturing. On other hand, managing challenges of sustainable manufacturing is an uphill task for manufacturing organizations for several reasons. In this chapter, the author has analyzed the challenges of sustainable manufacturing by using DEMATEL technique to differentiate them in cause and effect challenges. This differentiation can further help in effective analysis of these challenges. From practical and managerial viewpoints, this study can help the policymakers and strategy planners of manufacturing organizations in better understanding of sustainability and its aspects. Further, it can help in developing policies on sustainable manufacturing on national and international level both in developed and developing economies.

Global Value Chains, Industrial Hubs, and Economic Development in the Twenty-first Century

2020 ◽  
pp. 1048-1068
Author(s):  
Gary Gereffi ◽  
Xinyi Wu
Keyword(s):  
Value Chain ◽  
Raw Materials ◽  
The United States ◽  
First Century ◽  
Value Chains ◽  
Supply Side ◽  
Global Value Chain ◽  
Demand Side ◽  
Trade War ◽  
Athletic Footwear

This chapter uses the global value chain (GVC) framework to analyse the shifting strategies of key lead firms and first-tier suppliers in the athletic footwear and electronics industries. Growing cost pressures for labour and raw materials, as well as the potential political disruption from the escalating ‘trade war’ between the United States and China and the accelerating technological disruption sparked by the digital economy on both the demand side (e.g. e-commerce) and the supply side (e.g. automation) of GVCs, are encouraging brand leaders and major suppliers in both GVCs (such as Adidas and Nike in footwear, and Apple and Foxconn in electronics) to pursue automation in select factories in their supply chains. However, the industrial hubs where athletic footwear and electronics production is concentrated remain overwhelmingly labour-intensive, both in China and elsewhere in Asia (such as Vietnam and Indonesia) where big suppliers are moving to diversify their options.

BUSINESS SERVICE, INTERNATIONAL OUTSOURCING, AND WAGE INEQUALITY

2018 ◽  
Vol 63 (05) ◽  
pp. 1175-1182
Author(s):  
CHU-PING LO
Keyword(s):  
Wage Inequality ◽  
Service Sector ◽  
Developing Economies ◽  
Manufacturing Sector ◽  
Developed Countries ◽  
Business Service ◽  
International Outsourcing ◽  
Business Services ◽  
Production Externalities ◽  
The Impact

This paper adds business services to Feenstra and Hanson’s (1996) model to show that if a country is more prosperous in business services, tending to carry out less international outsourcing activities than it would otherwise. In this model, the more varieties of specialized business services a country endows, the more welfare gains arise in the presence of positive production externalities to the manufacturing sector. Since developed countries are more prosperous in business service sector, this model helps to explain why the impact of opening trade on the dispersion of both wages and unemployment is stronger in developing economies.

scholarly journals CENTRAL ASIAN REGION AT THE FOCUS OF GEOPOLITICAL INTERESTS

2020 ◽  
Vol 1 (383) ◽  
pp. 192-198
Author(s):  
Z. K. Ayupova ◽  
D. U. Kussainov ◽  
M. T. Beisenbayeva ◽  
Winston Nagan
Keyword(s):  
Central Asia ◽  
Developing Economies ◽  
Raw Materials ◽  
The United States ◽  
Raw Material ◽  
Alternative Source ◽  
Central Asian ◽  
Natural Energy ◽  
The World ◽  
Sphere Of Influence

In the XXI century the role of Central Asia in international politics is increasing. This region, possessing rich natural, energy, mineral and raw material resources, has an important geostrategic position, in which we see the geopolitical confrontation of global actors. The confrontation is explained by the fact that, for example, for Russia this region, being a “vulnerable underbelly”, is included in the traditional sphere of influence, from the perspective of China, the region seems to be an alternative source of energy and a vital partner for stabilizing and developing the troubled Xinjiang province. As for the United States and their allies, this region appears to be an important transportation hub, for example, for military supplies to unstable Afghanistan. Central Asia is not only a key region on the world map, the establishment of control over which allows you to manage the regional transit of hydrocarbons and other types of strategic raw materials for the largest developing economies, primarily China, and, as a result, affect their economic growth and aggregate power. Central Asia is a crossroad of civilizations, control over which, as was believed over the centuries, allows you to rule the world. The region retains its exceptional geopolitical significance today.

scholarly journals Regional Economic Outlook, October 2019, Western Hemisphere Department

2019 ◽  
Author(s):  
Keyword(s):  
United States ◽  
Global Economy ◽  
Developing Economies ◽  
Negative Impact ◽  
Regional Growth ◽  
Commodity Prices ◽  
The United States ◽  
Western Hemisphere ◽  
Trading Partners ◽  
Global Growth

The global economy has slowed, with important consequences for growth prospects in Latin America and the Caribbean. The slowdown in economic activity has been broad-based among advanced economies and more pronounced in emerging markets and developing economies, partly reflecting trade and geopolitical tensions. Global growth is projected to decline to the lowest level since the global financial crises, before recovering in 2020. More importantly, growth is projected to decline in 2019–20 in the United States and China, which are LAC’s two main trading partners. The ongoing sluggishness of global growth and trade is affecting export growth in LAC, posing significant headwinds to the outlook. External demand for the region remains subdued, with trading partner growth (including China, Europe, other LAC countries, and the United States) projected to decline in 2019, before recovering modestly over the medium term. Moreover, commodity prices (notably energy and metals), key drivers of growth in LAC in the past, are projected to decline with a likely modest negative impact on regional growth going forward.

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