Factors of Production in Asia

Human Capital India Over half the population works in agriculture. The Green Revolution began in the 1960s and was aimed at helping farmers use more modern methods and technology. Many Indians, especially in the cities, are highly educated. Because so many people speak English, India is the leader in technology support. The Indian middle class is quickly growing. The GDP is growing at about 8.5% a year. India is one of the top 10 most industrialized countries .

Human Capital China The Four Modernizations began in the 1970s as an effort to improve Chinese production in farming, military defense, industry, and scientific and technical research. New methods of production required training, which meant investment in human capital. China’s GDP grows about 8% a year. Millions of workers have left farms and moved to cities, trying to find better work there, but those jobs are scarce because the workers do not have the skills they need. The Chinese government is looking for ways to bring industrial development to the western part of the country. As the Chinese economy moves toward industrial and service industries, the investment in human capital is going to become even more important to keep the GDP growing.

Human Capital Japan The Japanese are among the most highly educated people in the world. Their investment in human capital through education is among the highest in the world. Japanese workers are known to work longer hours than many workers in the rest of the world, as a result of their work ethic. Japanese companies provide benefits for their workers, like health insurance, recreational programs, and financial planning help. This corporate investment in human capital pays off in dedicated workers who give their best efforts to their employers.

Capital Goods India India invests heavily in factories, modern machinery, and advanced technology. Modern farming techniques have become more widely used in India since the Green Revolution. India’s cities are home to some of the most advanced communications and computer technology in that part of the world. Enormous amounts of money have been poured into Indian industry in recent years.

Capital Goods China China’s Four Modernizations is a clear example of the government’s decision to increase the country’s investment in capital goods. More modern equipment and technology was brought into nearly every area of Chinese production, including agriculture, industry, and military. One big change has been that new technology and planning have allowed China to increase production of smaller consumer goods that have sold well in the world market.

Capital Goods Japan Japan is a country with few natural resources; therefore nearly all of Japan’s GDP comes from industry and services. Technology and up-to-date training in the uses of technology are essential for the Japanese economy to continue to grow. Japanese leads the world in the use of robotics, assembling goods using mechanical techniques, like robots. Continuing investment in capital goods makes Japan a world leader in industrial output and in providing a wide range of services.

Natural Resources India India has a large supply of coal. India has large, rich areas of farmland, which is important to their rapidly growing population.

Natural Resources China China has a large deposit of coal. China has a large amount of rich farmland that benefits their quickly growing population.

Natural Resources Japan Japan has very little natural resources. Japan must rely on industry and trade to supply its population with what it needs.

Entrepreneurs India Some of the world’s most successful and largest companies were founded by Indian entrepreneurs. India is also the land of smaller entrepreneurs in what is known as the micro-credit industry. Thousands of Indian men and women have been able to borrow small amounts of money to start a local business.

Entrepreneurs China Entrepreneurship in China is relatively new, since the Chinese government has only allowed individual business ventures since the late 1970s. China now has as many as 100 billionaires. China decided to let the entrepreneurs lead the way to being more competitive in the world market.

Entrepreneurs Japan Japan is the land of entrepreneurs. The need for business development, the availability of good education, and the Japanese work ethnic have combined to make Japan an ideal place for someone who has a good idea and the energy to see if it can work.