Economic Development

Answer

Economic Development

Malaysia and Mexico Economic Development

Over the years, Mexico has implemented reforms, such as privatization of state-owned enterprises and opening foreign trade investments. Nevertheless, despite the country’s efforts to enhance its economies, its economic growth is still lagging behind, as compared to other comparable nations. This analysis will give a clear comparison of Mexico and Malaysia is such aspects as social indicators, Human Development Index, political and civil liberties as well as societal safety and security.

The Human Development Index, in its comparable aspects of life expectancy, income per capita and education have been lower in Mexico as compared to Malaysia. On a 2015 Human Development Index report by the United Nations Development Program, Malaysia was ranked 59, in the globe, with an HDI of 0.789 (United Nations Development Program, 2017). Mexico, on the other side, was ranked 77 globally with an HDI of 0.762. While the life expectancy and mean education years in Malaysia were 74.9 and 10.1, those of Mexico were 77.0 and 8.6 respectively. Although life expectancy was higher in Mexico as compared to Malaysia, Malaysia depicted a higher Gross National Income per capita, of $24, 620 compared to16,383 in Mexico (United Nations Development Program, 2017). Poor economic performance, foster regime instabilities. Although Mexico and Malaysia experienced an economic crisis between 1980 and 2000, Malaysia still maintains a higher rating of political rights and civil liberties of 4/7 as compared to 2/7 in Mexico (Freedom House, 2017).

Romania Economic Growth, Human, and Millenium Development

Romania, as a fast developing country, maintained a steady annual GDP growth. On July 2014, the country recorded  a GDP growth rate of 1.6. Although the rate declined in January 2015, to 0.8, it adamantly increased to 1.9 by July 2015. A growth rate of 1.6 was recorded in January 2017, which hence increased to 1.7 in July 2017. Source: Trading Economics. (2017). Romania GDP Growth Rate | 1995-2017 | Data | Chart | Calendar | Forecast. Tradingeconomics.com. Retrieved 12 October 2017, from https://tradingeconomics.com/romania/gdp-growth

The country depicts a high Human Development Index, with global millennium development goals of eradicating extreme poverty, promoting gender equality, improving maternal health as well as ensuring environmental stability. As per 2015, Romania had achieved 0.802 HDI values, which put the country position 88 out of 188. Life expectancy at birth had increased by 5.3 years as mean years of education increased by 1.8 years (United Nations Development Program, 2017). The country was ranked among the best in human development, in 2016, with a Human Development Index of 0.802 (United Nations Development Program, 2017).

Underdevelopment in Chile

Low level of income, poverty, lower GDP growth rate, and unemployment are among the many attributes of an underdeveloped country. Chile is a true definition of an underdeveloped country due to its increasing unemployment rates, high poverty rates as well as low level of income. Although the employment rates of the country remained low between 2012 and 2013 the rates adamantly increased in 2014, and are expected to maintain a steady increase by end 2017. Chile records high unemployment rates, due to the lower average of education performance. Source: Organization for Economic Co-operation and Development, 2017

Although the poverty rates in the country are decreasing, Chile still records high poverty rates due to the unemployment prevalence in the country. Moreover, has been experiencing a decrease in its real GDP growth rate. However, the low GDP is as a result of political instability in the country.

Source: Organization for Economic Co-operation and Development, 2017

Finally, although the income rates have increased in OECD countries, Chile still records low incomes as analyzed by well-being indicators.For instance, personal security and income and wealth in the country are almost 0/10. Source: Organization for Economic Co-operation and Development, 2017