Economic indicators on three countries

Introduction
Three countries will be analysed in this assignment, they are Australia, which is a More Developed Country, Ethiopia, which is a Less Developed Country, and China, which is a Newly Industrialised Country. These countries will be analysed in five different parts and an explanation will be provided for each of these indicators. More then three sources have been used to find this information and some of it may be inaccurate.

Human developed Indicators rank: Australia: 5 Ethiopia: 168 China: 96 by http://hdr.undp.org shows that countries have already been put into appropriate terms on the countries development.
Terms
MDC= More Developed Country
LDC= Less Developed Country
NIC= Newly Industrialised Country

Economic Growth
Ref as Table 1
Australia Ethiopia China
GDP growth rate % 2.3% 7.3% 7.3%
GDP 368.6 b 6.4 b 1.2 t
GNI per Capita 19,770 100 890
Exports $68.8 b 442m 262.1b
Services % to GDP 69.9 36.5 30.9
Agriculture added to % GDP 3.3 52.3 19.1
Industrial added to % GDP 26.8 11.1 50.0
Exports of goods and services% 20.1 15.8 23.1
Imports goods and services % 21.0 24.9 18.1
Indicators: Bibliography

As the three countries show, these indicators prove that in Ethiopia and China that there is rapid growth especially in the Chinese embassy where the GDP is 1.2 Trillion. However, this GDP is not evenly distributed in China as Australia is. For $368.6 b and the distribution of $19,770 shows the advantages of a more ‘evenly’ distributed income flow in Australia. Also, it shows that Ethiopia shares more of its GDP as it only makes about $6.4b of it and $100 is a more even amount then the 1.2 Trillion for $890 each. Also, as can be seen, the countries creation of GDP varies greatly, in Australia, its GDP is more evenly created besides from agriculture. As can be seen in Ethiopia, they still concentrate more then half of their GDP products into Agriculture neglecting the other percentages into small groups. China, as it has begun industrialising has concentrated more on industrial production and also leaving limited space for the others. So, Australia could sum as a country in which is a even type economy, Ethiopia concentrates on raw materials and are primary producers whereas China is more of a secondary industry with raw materials.

Employment and Unemployment
Ref as Table 2
Australia Ethiopia China
Unemployment 6.7% 50% 10%
Workforce 15 and up 9.2m N/A 706m
Population total 19.4 m 65.8 m 1.3 b
Indicators: Bibliography
As can be seen here, the workforces of the three countries vary greatly. Shown in the figures of employment, Australia has a low unemployment rate which China has a low unemployment rate as well (however with a big population, it is a higher unemployment then can be thought), and Ethiopia’s unemployment is very high. China has a good record as it only has 10% unemployment for a greater population of 1.3 billion whereas Ethiopia is struggling with employment because of its lack of jobs and its main concentration in the agricultural from the table 1, which shows that there are not enough jobs.

Quality of life
Ref as Table 3
Australia Ethiopia China
Mortality rate p/1000 infant 5.3 98.0 32.0
Life expectancy 80 44.21 71.86
Literacy 100 35.5 81.5
Malnutrition prevalence %: 1 N/A 10.0
Urban Population 91.1 15.9 36.7
Population below Poverty 1 64 10
Fresh water resource per capita 18,350.5 1,710.8 2,241.3
Personal computers per 1000 464.6 0.9 15.9
Indicators: Bibliography

The quality of life between the countries can be examined as a very good quality of life, an average quality of life and an extremely poor quality of life. The quality of life as can be seen for Australia is that they receive much more water resources then any of the other countries do however Australia does have a smaller population to handle therefore it is not difficult to support the country. As also can be seen, to survive in the three countries when birth takes place, or infant mortality rate, shows that Australia is a very efficient country when it comes to helping children survive. China is second however still needing a little more improvement but the worst of all is Ethiopia’s infant mortality rate of 10% showing much needed development in health, which adds on that Ethiopia’s life expectancy is 44.21 years. The standard means of living also in the world would mean wealth as well in knowledge and assets. Seen on the table, literacy is the most important means of knowledge in order to learn, which shows Australians reading 100% and with China nearly reaching maximum literacy. Whereas Ethiopia is still struggling to even reach half the population literacy. For countries technological advancement, the percentage of people living in urban areas is starting to be a much greater trend for countries, like Australia, which does not have much GDP% in agriculture as countries such as Ethiopia, has agriculture of over 50%. Whereas, China is starting to improve in their industries and becoming less and less dependent on agriculture, which is encouraging, more urban population build up.

One of the greatest living standards acceptable now is the being an owner of a computer and has enough electricity to run it, which shows that Australia has over 464, 600 people owning a computer in Australia, as well as urban, China is also having a small increase and Ethiopia practically owns less then 1% of computers.

This shows that Australia’s standard of living is the best, China is a country, which strives on improvement as an NIC, and Ethiopia is very well behind either these two countries.

Environmental Quality
Ref as Table 4
Australia Ethiopia China
Annual Deforestation 0.0 0.8 -1.2
CO2 emissions metric tons p. capita 17.1 0.0 2.07
Energy use per capita (oil p kg): 5640.5 289.1 903.3
Electricity use per capita (kwh): 8303.2 22.2 701.8
Improved water source % 100 24.0 75.0
Indicators: Bibliography

The above table shows that one country causes most environmental damage and the other two countries Ethiopia and China are more environmentally protected. It can be observed per capita that Australia exceeds in polluting the world with more CO2 per metric tons per capita, Energy use per capita and electricity use per capita. This shows that although Australia is a more developed country it is also a country which releases much more then a 100% over each country per capita in pollution. However, population wise the figures overall for use of energy could be calculated for Australia 51,892,600,000 (oil p kg) and China 1,174,290,000,000 (oil p kg) (eg, Aus: 1.9 m x 5640.5). Showing that individually that MDC’s consume more but that the Chinese population consumes alot more overall. However, a more healthy side to the quality of life is of the improved water source, which enables people access to fresh water and for sea animals in general. Australia’s water source is the best with 100% followed up closely by China with 75% whereas Ethiopia’s water source is terrible with only 24% fresh water resource.

The role of Government in Health Care, Education and Welfare Payments.
Ref as Table 5
Australia Ethiopia China
Total Health Expenditure per capita 2,213 17 205
Total health expenditure GDP % 8.3 4.6 5.3
Malnutrition prevalence %u5 0 N/A 10.0
Overall Budget Balance 64.1 b 1.9 b 191.8 b
Budget Expenditure 84.1 b 1.9 b 191.8 b
Military % 2 12.6 3.5
% Gov expenditure on education 13.5 13.7 17.0
GDP 368.6 b 6.4 b 1.2 t
Tax % 32 % 7% 15%
Indicators: Bibliography

As can be seen, the countries with more development will have greater access in spending and greater access to improve health and education and the economy. It shows that the government has a huge influence over the economy. Already Australia is able to spend a huge amount per capita on each person for health. It shows that nearly 10% of GDP goes to the economy for health. There is practically no malnutrition in Australia; there is 10% in China however unknown in Ethiopia. As can be seen, it shows of the spending of education in the two economies showing that the Australian and Ethiopian economy is the same whereas the Chinese government is going high to support the growing population. The government in the Ethiopian sector spends over 10% on its GDP on military showing that the country is always under constant struggle against one country/force or trying to keep its political position. Australia and China tend to spend less then 5% however each of these countries GDP is large enough to exceed Ethiopia’s 12% spending. For the governments to support all the above summaries, the taxation needs to be in place to inject into the economy the certain percentages of the GDP. It is seen that the Australian government taxes more then the other two economies, China is in between on 15% and Ethiopia is on a low 7%.

Summary:
The three countries analysed are shown to have at least some development from very well developed, newly industrialised or halfway to development and a low developed country. The indicators show that the rank of these countries as either MDC’s, LDC’s or NIC’s is true. Australia is very well developed; China is less developed but soon to reach the phase of an MDC. Ethiopia is an LDC, which may never grow out of its state of poverty.

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