Asian Economy

Asian Economy

With a third of the total land mass of the earth, Asia is the largest continent in terms of area. In total there are 50 countries in Asia, the economic situation of which cannot be more different. From Qatar, the richest country in the world, to developing countries, all economic sectors can be found here.

After Africa, Asia has the most developing countries. These include: Uzbekistan, Kyrgyzstan, Armenia, Georgia, Tajikistan, Azerbaijan, Afghanistan, Pakistan, Mongolia, Yemen, Bangladesh, Bhutan, Nepal, Vietnam, Laos, Myanmar, Cambodia and the People’s Republic of China and India. This is surprising in that the People’s Republic of China and India are nuclear powers.

In addition to the developing countries, the Republic of China, Japan, South Korea, Singapore and Israel are not only industrial nations, but are even world leaders in some areas, such as high technology. In addition, there are the countries in the Middle East, Saudi Arabia, Kuwait, the United Arab Emirates, Iran, Iraq and Russia, which are considered to be “purchased” industrialized countries. The reason is oil production, which makes the countries mentioned the main producers worldwide. Expressed in numbers: Around 60% of the crude oil reserves are in Asia, of which almost 50% are exported. In addition to petroleum, numerous countries in Asia also produce other raw materials such as iron, tin, platinum, chromium, zinc, coal and also lead.

Numerous Asian business alliances

In 1960, OPEC, the organization of oil-exporting countries, was founded. It is designed to ensure global oil supply and counteract a drop in prices through a common oil policy.

ASEAN, the Association of Southeast Asian Nations, has been in existence since 1967, including Singapore, the Philippines, Malaysia, Indonesia, Thailand, Brunei, Vietnam, Myanmar, Laos, Cambodia and Papua New Guinea. Cooperation between these countries is intended to promote economic recovery. Check best-medical-schools for economy of Singapore.

ECO, the Organization for Economic Cooperation, was founded in 1985. It includes Turkey, Pakistan and Iran, and since the collapse of the Soviet Union also Uzbekistan, Turkmenistan, Tajikistan, Kyrgyzstan, Kazakhstan, Azerbaijan and Afghanistan. Within this alliance, the rich mineral resources of some countries are particularly noteworthy, and the member states also have strategically important positions as transit countries.

The group of eight developing countries, D-8, which was founded in 1997, aims to improve the position of the countries in the world economy through new trade relations. This alliance includes the Asian countries Pakistan, Iran, Malaysia, Indonesia, Bangladesh and Turkey.

Together with the USA and Australia, Japan founded APEC in 1989, the Asia-Pacific Economic Community. This is to create a free trade zone that encompasses all Pacific countries. By 2020, not only the industrialized nations, but also the developing countries should join.

Asia and agriculture

Due to the size of Asia, but especially due to the north-south extension, almost all vegetation zones can be found. From the polar tundra in the north to the tropical rainforest in the south of the continent.

It is therefore clear that agriculture cannot be practiced in some areas of the continent, for example in the highlands of Tibet. Livestock farming is particularly important in the steppes of Asia. The Arabian Peninsula, large parts of the Middle East and Inner Asia are characterized by the cultivation of cotton and dates. Wheat can be found from western Siberia to Kazakhstan and eastern China. In large parts of South Asia, as well as in South China, rice is grown, as are peanuts, sugar cane and not to forget tea. The poorest country, Bangladesh, is the leader in jute exports. Around a third of the inhabitants live from the jute industry.

The Asian road network

Due to the different vegetation zones and the economic situation of the countries, the road network is sometimes more or less well developed. Japan, Malaysia, Singapore, South Korea, Israel and the Philippines can rely on a functioning road network, in all other countries it is more or less easy to get from A to B. It is true that the highways are still being expanded, if only for the trade to guarantee with goods, nevertheless, many countries are parallel to further expansion of the waterways. And of course aviation plays an important role, as does transport by rail.

Asian Economy