Compare the growth rates in Hong Kong, Korea, Singapore, Taiwan, China, and the United States. In terms of real GDP per person, how far is China behind these others?
What will be an ideal response?
Since 1960, income per person in the nations of Hong Kong, Singapore, Korea, Taiwan, and China have grown very rapidly and are rapidly catching up to the United States. Income per person in Hong Kong is virtually the same as that in the United States and income per person in Singapore slightly exceeds that in the United States. Income in Korea also is relatively close. Income in China is the lowest, though recently China has been growing the most rapidly. China's level of income in 2010 is similar to that of Hong Kong in 1976.
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Open market sale of government securities by the Fed decreases the federal funds rate
Indicate whether the statement is true or false
If monetary policy is used to control real GDP then fiscal policy is a major determinant of
A) interest rates and economic growth. B) interest rates and the foreign trade deficit. C) unemployment and the foreign exchange rate. D) None of the above.