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EconNews Online is South-Western College Publishing's service to provide summaries of the latest economics news stories. Review the brief summaries and, for stories of interest, select the full summary. |
| Developing and Transitional Economies | |
| Title | Brief Summary |
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The growing Chinese
economy appears to be caught halfway between its former Communist roots
and an emerging capitalistic market. Lingering signs of central planning,
bureaucratic resistance, and state ownership are counterproductive in the
effort to achieve market capitalism and continued economic growth. (Updated October 1, 2003) |
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In spite of staunch
political backing by the richer nations of the world, a vast amount of resources
both in terms of intellect and dollars, the IMF and the World Bank have
come under increasing criticism. Responding to their critics, both institutions
have been undertaking reforms. (Updated May 1, 2002) |
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China's entry into
the World Trade Organization is providing additional motivation for that
country to develop a modern banking system. Unless China modernizes its
banking system, domestic production and banking services could substantially
diminish, reducing China's economic grow. (Updated February 13, 2002) |
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China's leaders have
made economic development in the western provinces a priority and they are
trying to convince the Hong Kong business barons to invest there. (Updated July 1, 2001) |
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Are debt repayments one
of the major impediments to economic growth for the world's poorest countries?
Many believe this to be the case and have been protesting outside the offices
of the World Bank. (Updated June 1, 2001) |
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The Czech Republic's
transition from a communist to a capitalist system has not been without
problems. After about $8.6 billion in bad bank loans, Czech banks were purchased
by foreign banks or dissolved and the Czech Republic was forced to create
Konsolidacni Banka to handle the bad debts accumulated in those first years
of capitalism. (Updated February 1, 2001) |
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After 10 years of ethnic
fighting, war, mismanagement and political chaos, Yugoslavia's economy is
in shambles and poverty and misery have replaced what was once a comfortable
living for many of the country's inhabitants. (Updated December 1, 2000) |
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When the Asian financial
crisis spread, many economists speculated that China would be on the list,
especially considering the state of the Chinese banking system. But the
growth rate in China increased, suggesting that China's chief economic planner
has managed to avoid the malady that plagued the rest of Southeast Asia. (Updated May 1, 2000) |
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Many Third World countries
have borrowed so heavily in the past that repayment consumes most of their
budgets. Proponents of debt relief for these countries argue that if funds
now directed toward repayments were used for improving schools, health care
or basic sanitation, then the countries would have a chance at economic
development. (Updated May 1, 2000) |
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Developing countries
have had difficulty attracting foreign investment, but that may change.
Venture capitalist firms, which typically look for opportunities in places
like Silicon Valley, have started searching Latin America for investment
opportunities. (Updated February 1, 2000) |
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