CASE VIDEO: 1

THE ECONOMIC DEVELOPMENT IN SOUTHEAST ASIA

Economic development includes initiatives that improve infrastructure and enhances

our education system and agriculture. It gives available jobs to individuals and opportunities.
It generates and sustains the wealth in a community or nation. Southeast Asia is expected to
return to the economic growth rates they express before the pandemic.
According to Vincent Chin, the Senior Partner of the Boston Consulting Group, and
Managing director, the government must have two things right to create jobs. First, make it
easy for companies to set up to get running. Second, it is easy by having human capital
development to make sure a country's population is well-trained when they work at the time
they attained working age and are employable. Since these collaborate to solve poverty,
inequality, and climate change. They shape them by giving them opportunities to work,
access to services, and infrastructure.
Many economic issues, such as unemployment, currency rates, inflation, salaries, and
supply and demand, usually have an influence on how firms generate a profit and improve
their efficiency. Companies that research such factors usually find themselves capable to
predict revenue from customers and setting up their marketing activities for the greatest
success. As Vincent Chin stated that there are three key success factors to consider in an
economy as an environment easy to do business. The first key factor is that we must ensure
that we have an environment that is easy for companies to do business in and do other
business. The second key factor that the ability to set up the business easily with full
complete licensing requirements that enables us to find workers and manage them easily.
Lastly, the ability to grow the business and government that can afford a company to easily
access a free trade agreement and can access also economic zones that enables the business to
grow to hire new or more people.
Say the GDP is not enough to measure economic growth and development the reason
that is GDP is enough but is insufficient. We do not just focus on wealth but also the well-
being of the sustainable economic development assessment it is all about capturing the sense
of how a country has grown. We measure civil society governance health education standards
and the source income levels taken together. Any economic development project that fulfills
these methods in a holistic way can have a long-run benefits.

CASE VIDEO: 2
HOW CHINA GOT RICH
 1949
The Republic of China is established under the rule of the communist party of China.

1958-1961
2008
The Great Leap Forward launched an economic and social campaign to transform
China hosts the Summer Olympics in Beijing showcasing its economic and
China into a modern communist society. The campaign leads to a famine that causes
technological process.
millions of deaths that's

2010
China has surpassed Japan to become the1976 world's second-largest economy, a position
There
held by Japan for more than four decades. damaged China’s economy but it still
are reforms to the rigid ideologies that
continues to support a one-party system for political stability.
2013
President Xi Jinping announce the strategy 1978
as the ‘Silk Road Economic Belt’ during an
Deg Xiaoping
official visit tobecomes China’s
Kazakhstan paramount
in September leader
2013 and initiates
to promote economic
economic reforms to
development and
move away of
integration from a centrallytoplanned
connectivity link easteconomy
Asia andtowards a market-oriented
Europe through physical economy.
infrastructure.
1980
Special economic zones are established where 2015 foreign investments and free market
practices
China are allowed.
established Rural infrastructure
the Asian populations moved cities increasing
bank to finance productivity
infrastructure for the and
small enterprise
development sells from
of Asia to international markets
the pacific to the Mediterranean.

2020
1990
Despite the covid-19 pandemic China's economy grows
As it’s said China has become a member of the World by 2.3%
Trade becomingwhich
Organization the only
leads
major
to to record
increased positive
foreign growth.and trade.
investment

1997
China's economy has grown into one of the largest and most powerful in the world over the
China continues to attract large inflows of foreign direct investment based on
incentives, policies, and, focuses the use of market forces to foreign investment
access
2001
China joined the World Trade Organization to allow access to new trading partners
and butter rates with current ones.

past few decades. China's GDP is currently the greatest in terms of purchasing power parity (PPP)
equivalency, thanks to industrial output and manufactured exports. Despite this expansion, China's
economy is tightly regulated by the government, with allegations of corruption, unfair trade, and
fabricated data. They have supported rapid industrialization and investment in physical and human
capital during the past years. In the world trade organization China has been one of the organization's
most active members and its economy has become an integral link in global supply chains. With BRI
it secures the borders on the Asian mainland and seeks new partnerships. They can largely release in
fracture, agriculture, innovation, and, machinery.