Global Groupings

A large number of previously poor nations are now relatively wealthy, in terms of national annual income
Economic groupings
1. LDCs
  1. Sudan
  2. Ethiopia
  3. Afghanistan
  4. World's poorest low-income nations
  5. This group of around 50 states has sometimes been described as 'Forth World'
2. NICs
  1. China
  2. India
  3. Indonesia
  4. South Korea
  5. Mexico
  6. Brazil
  7. Argentina
  8. Middle income nations
  9. Exports and average earnings have risen at unprecedented rates since the 1970s
  10. Asian Tigers
  11. Hong Kong
  12. Singapore
  13. Taiwan
  14. Countries recently joining are called RICs (recently industrialised countries)
3. OECD
  1. Sweden
  2. Spain
  3. Australia
  4. UK
  5. France
  6. USA
  7. Germany
  8. Italy
  9. Japan
  10. Canada
  11. South Korea
  12. Mexico
  13. Organisation of 30 nations
  14. High levels of wealth are far more evenly distributed
  15. Standard of living is good
4. OPEC
  1. Saudi Arabia
  2. UAE
  3. Indonesia
  4. Nigeria
  5. Libya
  6. Venezuela
  7. Iran
  8. Angola
  9. Dubai
  10. Petrodollars
  11. Since the 1960s, many of the world's major oil producers have belonged to this organisation
  12. Saudi Arabia has a GDP of around $350 billion (2007)
  13. Display well above average levels of wealth
  14. Wealth is unevenly distributed
5. G8
  1. UK
  2. France
  3. USA
  4. Germany
  5. Italy
  6. Japan
  7. Canada
  8. Russia
6. Ex-Soviet States
  1. Russia
  2. Ukraine
  3. Estonia
  4. Uzbekistan
  5. Tajikistan
  6. The break up of the soviet union in 1989 (re)created 15 ex-Soviet states
  7. Many of which score poorly in HDI and GDP
  8. Described as middle to low income
Political groupings
1. NAFTA
  1. North American Free Trade Agreement
  2. Canada, USA and Mexico
  3. Mexico has cheap labour force, while the USA has management and research expertise
  4. Spatial division of labour
  5. Covers environmental and labour issues as well as trade and investment
  6. US unions argue that the safeguards are too weak
  7. The USA hopes to expand the area to the rest of Latin America, creating a free trade area
  8. Countries like Brazil are sceptical of its benefits
  9. Remains the largest trade bloc in the world in terms of combined GDP
2. EU
  1. Considered the most powerful trading bloc in the world
  2. Economic and political grouping of 27 European countries
  3. Members contribute to a central European parliament
  4. Can trade and move freely
  5. Have a single currency to strengthen the economic links within the bloc
  6. UK, Austria, France, Greece, Germany, Hungary, Italy, Poland, Spain etc...
3. CARICOM
  1. Belize, Barbados, Jamaica, Grenada
4. MERCOSUR
  1. Argentina, Brazil, Paraguay,Uruguay (South America)
5. COMESA
  1. Angola, Malawi, Zambia, Kenya (AFRICA)
6. ASEAN
  1. A geo-political and economic organisation
  2. 10 countries in Southeast Asia
  3. Aims to include acceleration of economic growth, Social progress, Cultural development, Protection of the peace, Stability and to provide opportunities
  4. Brunei, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, Vietnam, Myanmar

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Global Groupings

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