Why the Rapid Development?

Economics
Tutor: None Selected Time limit: 1 Day

What do you feel has accounted for the rapid development of countries like South Korea, China, Brazil, and India? Explain your reasoning.

Dec 14th, 2014

The rapid development of countries like South Korea, China, Brazil and India is due to two major factors.  One is the improved higher level education I these countries and two, the low labor cost in these countries.  Due to these two factors, major large multinational companies moved their production to these countries to become more cost competitive.  For instance, companies such as Honda, Toyota, Mercedes, Ford and Chevrolet.  Another instance is large consumer goods companies such as Unilever, Johnson & Johnson, Kellogg also established their manufacturing facilities in these countries. 

Dec 14th, 2014

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