Question

Using the readings, lecture, and your own research, complete a political, economic, legal, and technological profile of an emerging country of your choice. You must select an emerging country that is not discussed in your readings. This writing assignment should be completed in the standard APA format. Upload the assignment to the proper assignment folder.

Greece, Japan and china are mentioned

Answer 1

Let us choose India.

Economic profile:

India is an emerging economy. According to IMF, India's growth rate was 7.3% in 2018 and is expected to remain around this number. Its economy has benefited from the low oil prices in the recent years which has spurred the growth rates in the core sectors of the economy.

In the present scenario, Indian government has implemented a variety of schemes and programs to encourage small scale businesses, domestic production, financial inclusion etc. These schemes such as MUDRA yojana (giving loans to the marginal and small scale businesses), Make in India (to encourage domestic production of goods and increase the production base of the economy), Jan Dhan Yojana (financial inclusion scheme). These schemes have helped the economy expand its production base, boost the entrepreneurial skills and provide platform to the start-ups. These steps are very crucial in an emerging economy.

However, India is also facing a very recent economic slowdown mainly because of the immediate impact of the global slowdown happening (especially in USA). Another reason of the slowdown is the decline in the core sectors of the economy such as automobile industry. It is declining globally as well and its repercussions are seen in India.

India is expected to overtake China as the world’s most populous country by 2024. It has the world’s largest youth population. India continues to suffer from a low GDP per capita, almost 25% of the population still lives below the poverty line and the country's inequalities are very strong: the richest 1% of the population own 53% of the country’s wealth. According to ILO reports, the unemployment rate stood at 3.5% 2018 and should remain unchanged in 2019.

Historically, India's economic policy before 1991 was inward looking with a closed economy. The main focus was on import substitution and export promotion. However, after 1991, India adopted the reforms towards more globalisation and privatisation of the economy.

Political profile: India is a republic with a Parliamentary form of government.

Gained independence in 1947. Have been a democracy since then (except 21 months of emergency in 1975).

Has a multi party political system. its major political parties include Indian National Congress, Bhartiya Janta Party, Communist Party of India, Aam Aadmi Party etc.

The legislature is bicameral. The Parliament consists of: Council of States(Rajya Sabha) and the People's Assembly (Lok Sabha). People of India enjoy considerable political rights.

Indicators of freedom of press: 140/180 (world rank)

Legal profile: Sound legal system.

Supreme court is the apex court. Then comes the high courts of each state. Then comes the district courts serving each district. In addition to this, there are various tiers of Consumer courts under Consumer Protection Act. There also lies sufficient redressal mechanism for violation of fundamental rights.

Awareness regarding the legal system is less amongst public.

The appointment of judges of high courts and supreme courts is sufficiently independent of the interference of the executive.

Judiciary has some legal powers (to a certain extent) to check the functioning of the executive and legislature (for instance, it can question the legality or constitutional validity of the ordinances passed by the legislature).

Technological Profile: Fast developing in this sense. India's IT industry well developed an its products (softwares etc.) already exported worldwide.

Lacks innovation in alternative energy sources and technology related to it.

Some sectors still using outdated technology (like agriculture).

Some of the industries still dependent on the import of technology from other countries and lacks innovation domestically (like defence).