Economy: Asia.

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Presentation transcript:

Economy: Asia

China 1. Calls itself a socialist market economy 2. Was a command economy 3. Transitioning to a mixed market economy A. China’s economy has grown in the last 25 years

North Korea 1. Command Economy 2. Economy is not growing A. Government controls all the resources and decides what is to be produced Farmers work on cooperatives - up to 300 families share the work 2. Economy is not growing A. Government is making reforms B. Massive food aid from other countries has been needed to avoid starvation

Japan 1. Mixed Market Economy 2. Government owns few businesses A. One of the strongest in the world B. Has built their economy around manufacturing A. Manufactures ships, cars, and electronics. 2. Government owns few businesses A. DOES own TV network B. Does oversee banking and trade

India 1. 1947 - Set up a command economy A. Government controlled industries and production 2. 1991 - becoming more of a mixed economy A. Reforms have been good for economy, but millions still live in extreme poverty