The Economy of India Half of India’s population still works in agriculture Major products wheat and rice Green Revolution - Introduced new seeds, grains, fertilizers and pesticides

India now leads many of the countries in technology and service industries Service industries-technology, airline reservations, retail sales Bollywood films are as popular in Southern and Eastern Asia

Economy of Japan Technologically advanced Japanese government spends very little on military, leaving more money for their economy

Have very little farmland and few natural resources Well-educated work force Imports all of its oil Another energy source is nuclear power About 1/3 of Japan’s energy is by nuclear power plants Largest industry is the fishing

little arable land, terraces - crops carved out of hillsides The government buys the farm goods to keep prices high so farmers can make a profit foreign countries cannot sell certain farm products in Japan if those products will compete with Japanese farm goods

Well educated population employees work long hours Ministry of International Trade and Industry (MITI)- helps companies decide what products will sell best internationally Tariffs- taxes on imported goods that might compete

Economy of North Korea Command Economy Communist Party and Premier Kim Jong-il controls the government and the economy

North Korea does not produce enough food to feed the population. cooperatives farms organized and owned by the government farmers are told what to grow Rich mineral resources-coal and iron steel and machinery are leading industries

government spends millions on the military rather than investing in the economy

The Economy of China Originally a command economy Chinese Revolution –led by Chairman Mao Zedong –the country would remain in farming and some would switch to industrial production Collective farms- where people worked together and shared whatever they produced

Great Leap Forward –government tried to reorganize the economy in the late 1950s Cultural Revolution –reorganized farms, businesses, and most of society

Four Modernizations organized by Deng Xiaoping –Farmers were given more control –Decided what to produce and can keep profits –Special Economic Zones encouraged foreign companies to do business with China

1.The economy of China can best be described as________________. 2.The Great Leap Forward and the Cultural Revolution were examples of China’s attempt to 3. One of the problems resulting from the Green Revolution was______________. 4. The economy of Japan can best be described as_______________. 5. Most major economic decisions in North Korea are made by a.The Korean People b. Premier Kim Jong-il c. The North Korean Parliament d. the Korean industrial leaders