Q.5) Find and write
Who made a significant contribution in development of country?
Ans. -
Answers
Explanation:
(a) In 1987, the economic environment surrounding developing countries saw little improvement as a whole, including such aspects as terms of trade, flow of funds and trends of the economies of developed countries, though there were some favorable developments for developing countries, such as a moderate pickup in prices of crude oil and primary commodities. Under such conditions, disparities among different regions and countries have become more pronounced; Latin American countries, saddled with huge external debts, have not experienced improvement in their debt repayment burden pictures and Sub-Saharan African countries and other LLDCs were unable to overcome the fragility of their economic foundations, whereas Newly Industrializing Economies and other Asian countries showed relatively favorable economic performances.
(b) In terms of economic relations between Japan and developing countries, a major progress was seen in the areas of trade, especially in Japan's imports from developing countries, and in investment etc. Japan's exports to developing countries in 1987 rose by 16.4% from the previous year to $74,402 million, while imports advanced 20.3% to $67,276 million, leaving a trade surplus of $7,126 million, down from $7,993 million of the previous year.
Japan's exports to Asian countries surged by 26.8% to $52,841 million as a result of a sharp increase in sales of machinery and equipment to the Asian NIEs (Republic of Korea, Singapore, Hong Kong and Taiwan) and ASEAN countries, accounting for 71.0% of the nation's total exports to developing countries.