Economia internacional

Oriana Romero
Chapter 9
1. Define key terms

a) Economic Development: Is the increase of the average gross domestic product (GDP) or the gross national income (GNI).
b) NewlyIndustrialized countries (NICs): These are the countries that experience rapid economic expansion and industrialization of targeted industries and have per capita incomes that exceed other developing countries.c) Infrastructure:  technical structures that support a society, such as roads, water supply, sewers, electrical grids, telecommunications, and so forth, and can be defined as "the physicalcomponents of interrelated systems providing commodities and services essential to enable, sustain, or enhance societal living conditions
d) Big emerging markets (BEMs):  are nations with social orbusiness activity in the process of rapid growth and industrialization.

Is it possible for an economy to experience economic growth as measured by total GNP without a commensurate rise in the standardof living? Discuss fully.

The growth in wealth of a nation, as measured by an increase in gross national product, or in national income is considered as the economic growth of a country. It isabsolutely possible that an economy grows without benefiting everyone in it; in the 1970s Brazil's economy grew at rates of around 10%, but at the end of that era, the gap between rich and poor hadwidened. For this reason, many geographers are reluctant to equate economic growth with development, arguing that true development should contain an element of social justice.

Discuss the strategicimplications of NAFTA.

The impending North American Free Trade Agreement with Canada and Mexico will bring changes in the trade patterns of the US. Although the impact will be greatest on the economy,the agreement will also provide a broadened base of resources and expanded political ties that could have important strategic implications. The importance of NAFTA needs to be highlighted with...