29 Jun THE COMPARATIVE CASE STUDY OF DEVELOPED (G-8 & G-20 COUNTRIES)
The world population is 7+ billion. Its alarming that 1.4 billion people are living in poverty. Development
agency studies exhibit the economic lives of the poor (those living on less than $2 dollar per day per
capita at purchasing power parity) and ultra poor (those living on less than $1 dollar per day).
The most striking feature of the global economy is its extreme contrasts. Output per worker in the USA is
about 10 times higher than it is in India, and more than 50 times higher than in Democratic Republic of
Congo (DRC). Real income per capita is $42,950 in the USA, $3,460 in India and $720 in the DRC. There are
also enormous gaps in measures of welfare. Life expectancy is 78 in the USA, 64 in India, and 44 in DRC. The
prevalence of undernourishment is less than 2.5% in the USA but 20% in India and 54% in DRC. How did such
wide disparities come about?
On the other hand despite growing global crisis, the middle income class has increased in India and China!
But the percentage of people living below the poverty line is also increasing.
Economists generally believe that there is net effect of globalization on poverty; that the drivers of wage
differentials are based on technology rather than trade. The underlying factors include lower level of human
capital, high population growth rates, lower level of productivity, larger rural population, lower level of
industrialization and manufactured exports, underdeveloped financial and other markets, political and
environmental factors that account for wider gaps between these countries.
Term Paper is based on the comparative case study of Developed (G-8 countries). Less Developed and Emerging
Economies with reference to macroeconomic indicators exhibit the level of income disparity and poverty.
The paper will evaluate macroeconomic indicators of growth and development of the respective country.
Write a comparative case study of a Developed Country (G-8 country) for example any developed country from
G-8 nations. Compare the macroeconomic indicators of any developed country with the same macroeconomic
indicators of any Developing / emerging economy (G-20) countries, for example, Brazil, Russia, India, China
(BRIC) or (MIST) Mexico, Indonesia, Singapore, Turkey any country from Middle East which is on the path of
development.
OR
You could also compare the macroeconomic indicators of developed country listed above(G-8) with any Less
Developed Country (poor country) for example a country with poor economic indicators with people living in
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