2. Emerging markets - is used to describe a nation's social or business activity in the process of rapid growth and industrialization. Currently, there are approximately 28 emerging markets in the world, with the economies of China and India considered to be by far the two largest.
3.
4. Economic development presents a two double sided challenge.A study of the general aspect of economic development is necessary to gain empathy regarding the economic climate within developing countries. The state of economic development must be studied with respect to market potential including the present economic level and economy’s growth potential.
5. Economic Development – is generally understood to mean an increase in national production that results in an increase in the average per capital gross domestic product or GDP. Stages of Economic Development by Walt Rostow Stage 1: The traditional society Stage 2: The precondition for take off Stage 3: The take off Stage 4: The drive to maturity Stage 5: The age of high consumption
7. MDCs – More Developed Countries – industrialized countries with high per capital incomes, such as: Canada, England, France, Germany, Japan and the United States. LDCs – Less Developed Countries – industrially developing countries just entering world trade, many of which are in Asia and Latin America, with relatively low per capital incomes. LLDCs – Least Developed Countries – industrially underdeveloped, agrarian, subsistence societies with rural populations, extremely low per capital income levels, the little world trade involved. LLDCs are found in central Africa and parts of Asia. NICs – Newly Industrialized Countries – countries have rapid industrialization of targeted industries and have per capital incomes that exceeded other developing countries. These countries are Chile, Brazil, Mexico, South Korea, Singapore and Taiwan.
15. Incentives of force a high domestic rate of savings and to direct capital to update the infrastructure, transportation, housing, education and training.
46. Worlds 12 th largest economy at market exchange rates.
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48. Since 1991: India has gradually opened up its markets through economic reforms and reduced government controls on foreign trade and investment.
49. Privatization of publicly owned companies and the opening of certain sectors to private and foreign participation has continued amid political debate.
