S4010 cussion Questions Module 3 ints 20 odule 3 Chs 45 Desc

S4010 cussion Questions Module 3 ints: 20 odule 3 (Ch\'s. 4/5) Describe the main criteria used to classify economies. Select two countries on Figure 4.1 identifying GDP per perso Are your findings consistent with what you would expect based on the country rankings? What is the human development ranking for each country? In your opinion, are these rankings consistent with the GDP rankings? Describe the main characteristics of emerging-market economies. Select one emerging-market country. Utilize a combination of the World Factbook at https://www.cia.gov/library/publications/the-world-factbook/geos/xx.html and the human development index (HDI) at http://hdr.undp.org/en/statistics/, and formulate an opinion of why you think the country is an emerging country. Identify its per capita GDP and HDI ranking to assess its level of development. Define WTO. In what ways do you think the WTO is still essential to global trade? Discuss how a private-sector firm would use the WTO to protect its business interests. What are two ways that regional economic integration can help global companies? GE makes both military equipment and consumer products. Research GE and its product range 1. 2. n and research the local economy 3. 4. 5. on its website (http://www.ge.com/products_services/directory/by_product.html). Do you think pany like GE prefers conflict zones or peaceful countries? What issues do you think senior a com management has to consider when reviewing the company\'s operations in Angola? Use you learned in the Ethics in Action sidebar on Angola and research the country\'s civil war. Visit GE\'s Angola website at http://www.ge.com/ao/ to obtain more information on the company\'s in-country operations what

Solution

1.

The main criterion employed by the World Bank for classifying economies is the gross national income (GNI) per capita while dividing countries as low income, middle income (subdivided into lower, middle, and upper middle), or high income.

               Countries with the per capita income of US $12,476 per annum and above are labelled as Rich or High income countries where as countries with the per capita income of US $1,025 or less are labelled as Poor or Low income countries (Lower middle income: $1,026 to $4,035 & Upper middle income: $4,036 to $12,475). But on the other hand UNDP has taken education, health and the per capita income as the base for classifying economies while as IMF takes into account i) per capita income level ii) export diversification iii) degree of integration into the global financial system in order to classify economies.