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What gives china its comparative advantage over developed countries?
Wiki User
∙ 11y ago
china is a great exporter and importer,
Wiki User
∙ 11y ago
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How can a less developed country like Mexico have a comparative advantage relative to the US?
If they can produce something with less opportunity cost than the US. For example (purely academic and theoretical), to produce 1 million dices, Mexico has to give up 500 cars However, in the US, to produce 1 million dices, it has to give up 800 cars (due to different factors of production). Thus, Mexico has a comparative advantages over the US. Nevertheless, it is unlikely that less developed countries can gain comparative advantages over high income countries (except for example: China's sweatshops)
How do countries benefit from specialization?
Based on the concept of comparative advantage, a country will tend to specialize in fields where they have an advantage relative to other countries. Countries such as Australia have vast amounts of natural resources, so will tend to specialize in exporting mineral ore. China, with its vast labour pool will tend to specialize in manufacturing and the U.S with its vast R&D investment will tend to be the one who owns the intellectual property and patents. Though the examples given are simplistic in nature, they show that by specialising in areas where countries have an advantage they are on-the-whole better-off compared to attempting to do all the tasks; to do so would be inefficient. Hence, by allowing specialization countries are able to have a level of consumption or production greater than if trade was not conducted.
Is chiina a developed or a developing country?
China is a developed country.
How has China Developed?
They held the olympics in 2008
What is the difference between cars in developed countries and cars in developing countries?
The main difference is Emission laws. For example the EU (Europe) and the USA have Very different emission regulations. Some USA models aren't sold in the EU and some European models aren't available in the USA. China for example, doesn't acknowledge USA Patents and Copies Vehicles/and their parts to be use/sold as Products of China.
How can a less developed country like Mexico have a comparative advantage relative to the US?
If they can produce something with less opportunity cost than the US. For example (purely academic and theoretical), to produce 1 million dices, Mexico has to give up 500 cars However, in the US, to produce 1 million dices, it has to give up 800 cars (due to different factors of production). Thus, Mexico has a comparative advantages over the US. Nevertheless, it is unlikely that less developed countries can gain comparative advantages over high income countries (except for example: China's sweatshops)
What are the benefits of exporting to developed countries?
because we get alot from china and china is cool
What are the top 20 most developed countries according to the world bank statistics?
China
What are the developed countries in the world?
Obvious developed countries are all of Europe, US, Japan, Russia, New Zealand and Australia (and to a extent China). There is point where a country is considered absolutely developed. It is always relative to other countries, so to determine which counties are "developed" is subjective. Also there are many countries where portions are more developed than others. Historically, development was measured based off money (GDP/GNP), but because of various economic factors (foreign investment, etc.) money alone was no longer an accurate comparative value, so we began using standard of living or quality of life. The UN currently uses the Human Development Index to measure development. For a map of countries (developed and not), visit the Related Link.
Which 5 countries using Eco friendly technology?
INDIA , CHINA , Russia , America and France . and there are many more countries which can be developed or developing countries.
Is Bahrain developed comared to china?
yes Bahrain is one of the most developed countries in Asia and the Middle-East. The Banking Sector is the Best in the ME.
Is Brazil a undeveloped country?
No way! Brazil, China India and Russia are going to be the most developed countries on earth
What country was the trebuchet developed in?
The trebuchet was made in China, however, was used in Muslim and christain countries around the Mediterainean.
What are three types of contries in the world that exist?
The three type of countries are: More Economically Developed Countries. These are countries such as the US, the UK and Canada where people are generally rich and the country is developed. The second type is Newly Industrialized Countries. These are countries such as China which were once poor but are now becoming much richer and more modern. The third type is Less Economically Developed Countries. These are countries in Africa and South America where people are generally quite poor and the country is not developed.
Could Colgate make their toothpaste in Mexico even though they are an American Co?
Of course; many American companies take advantage of cheaper production and labor costs in less developed countries such as Mexico or China and manufacture their products in such countries. This is called "offshoring" and unfortunately, is the reason many industries have closed their operations in the US and migrated whole industries into other countries.
Is china and Russia undeveloped countries?
The asian side of Russia is being disputed as undeveloped. Parts of China would be undeveloped. Overall though it could be disputed that they are developed
What are examples of developed and developing countries?
Developed countries are countries that are labeled as "First World Nations." These are countries that are generally rich (per capita and government wise), have good treatment of its citizens (plenty of freedoms for example), is not corrupt, etc. Some examples of developed countries are Norway, Australia, the Netherlands, the United States, New Zealand, Canada, and Ireland (which are the most developed nations). Developing countries are currently in the process of becoming developed (inheriting all the traits listed above and more). Some examples of developing countries include China, Vietnam, and Iraq.
