Is there a transfer of wealth between the west and east?

Posted: Feb 13, 2012 |Comments: 0 |

The shift in economic power from the West to the east is accelerating. The rich world will lose some of its privileges as a result. An example from history is the Quarry bank Mill. This is a handsome five-storey building set in the valley of the River of all in a small English village a few miles south of Manchester. It was built in 1784 by Samuel Gregg, a merchant, who found profit in supplying cotton thread to Lancashire's weavers. The raw cotton sheet for America's slave plantations was processed on the latest machinery, the water frame. Later the entrepreneur extended the factory and installed coal-fired steam engines to add to the water power from the original device. All this gave a huge boost productivity. In 1700 spinster with a pedal driven spinning wheel might take 200 hours to produce a pound of you. By the 1820s it would take around an hour.

The mill was part of a revolution in industry that would profoundly alter the world's pecking order.  the new technologies, laboursaving inventions, factory production, engines powered by fossil fuels and other similar technologies spread to other parts of Western Europe and later to America. The early industrial rises along with a few late developers such as Japan were able to login and build on their leading technology and living standards.

The great divergence between the West and the rest lasted two centuries. DeMille which was once one of the world's largest has become a museum. A few looms, powered by the mills waters wheel, still produce details Begin shop but cotton production has long since moved abroad in search of low wages. Now one is another historic change is shaking up the global hierarchy. A great convergence in living standards is underway as poorer countries speedily adopted technology know-how and policies that make the West rich. China and India are the biggest and fastest growing of a catch up countries, but the emerging market boom has spread to embrace Latin America and Africa as well.

And the pace of convergence is increasing. Debt ridden rich countries such as America has seen scant growth since the financial crisis. The emerging economies, having escaped the carnage with only a few cuts and graces, has spent much of the past year trying to check the economic booms. The International monetary fund forecasts that emerging economies as a whole will grow by around four percentage points more than the rich world both this year and next if the fund is proved right by 2013 emerging markets will produce more than half of global output, measured at purchasing power parity.

Retrieved from "http://www.articlesbase.com/economics-articles/is-there-a-transfer-of-wealth-between-the-west-and-east-5657053.html" David Coleman - About the Author:

The author can be contacted in relation to a shelf company or shelf companies at the links available here.

Questions and Answers Ask our experts your Economics related questions here... Ask 200 Characters left How many miles from the east coast to the west coast ? How many miles from east coast to west coast us ? How is west egg different from east egg? Rate this Article 1 2 3 4 5 vote(s) 0 vote(s) Feedback RSS Print Email Re-Publish Source:  http://www.articlesbase.com/economics-articles/is-there-a-transfer-of-wealth-between-the-west-and-east-5657053.html Article Tags: economics, politics, news, shelf companies Related Articles Latest Economics Articles More from David Coleman A New Zealand Offshore Financial Company Part I

In this comprehensive review the author details the many aspects of an NZOFC (New Zealand Offshore Financial Company). An NZOFC has a large number of distinct advantages for the enterprising individual or corporation interested in setting what is essentially an offshore bank. This is the first of two parts.

By: Geir Holstadl Finance> Bankingl Jul 12, 2010 lViews: 110 Exposing The Myth: "I'm From The Government And I'm Here To Help You"

This article looks at the performance of government and politicians in the recent past, reaching the undeniable conclusion that this phrase, "I'm from the government and I am here to help you" is indeed nothing but a myth today.

By: Bruno Korschekl News and Society> Politicsl Jun 25, 2010 India's eastern engagements

Inder Malhotra considers India's burgeoning strategic relationships with two of its key south-eastern neighbours, which are causing China some concern.

By: ankurl News and Society> Journalisml Dec 07, 2011 Marketing Research & Marketing Communication

Marketing communication functions within a marketing framework. Traditionally known as the promotional element of the four Ps of marketing (product, place, price, and promotion), the primary goal of marketing communication is to reach a defined audience to affect its behavior by informing, persuading, and reminding. Marketing communication acquires new customers for brands by building awareness and encouraging trial. Marketing communication also maintains a brand's current customer base.

By: Krishan Kantl Marketing> Social Marketingl Jan 13, 2011 lViews: 723 Charge Your Imagination

Use your imagination in business; think out of the box; and be futuristic

By: Eric Okekel Business> Business Ideasl Oct 21, 2009 Mcc funds supported transportation projects

The Millennium Challenge Accounts[MCC] fund, sponsored by the American Government has supported various developmental activities in Ghana such as transportation, agriculture, financial and community services among others.

By: MOHAMMED SAANI IBRAHIMl News and Society> Economicsl Feb 14, 2012 Is there a role reversal occurring in the world economy?

Increasingly it appears that emerging market firms are buying a rich world companies. The Halewood car plant near Liverpool was once notorious to strike. In the 1970s its seemingly Bolshevik workforce Frickley clashed with managers.

By: David Colemanl News and Society> Economicsl Feb 13, 2012 Will China's economy overtake the size of the USA within 10 years?

In 2010 china shot past Japan to become the world's second-largest economy based on current market prices. When will it supplant America at number one? The answer depends on how the exchange rates are calculated.

By: David Colemanl News and Society> Economicsl Feb 13, 2012 Inflation and the Dollar Crisis

The rate of inflation in the United States has been steadily rising. The inflationary rate is a major, if not the key fundamental factor in determining the actual value of your money. The actual net worth of your dollars can be translated into how much purchasing power your dollars have for buying various goods and services over time.

By: Tom Genotl News and Society> Economicsl Feb 12, 2012 Is the death penalty is still appropriate?

Little by little, countries are ditching the death penalty. On September 19 a bill nude, a Sudanese man was executed in Saudi Arabia for the crime of sorcery. On September 21 Tory Davis, a black man convicted of shooting an off duty white policeman was executed in the American state of Georgia. Protests that the evidence against him was flawed proved fruitless.

By: David Colemanl Law> Criminall Feb 13, 2012 Is there a fracture in the UK coalition government?

The government in the United Kingdom as junior members of the coalition who are growing restless. Yet rather than collapsing within five years, the coalition could last for more than 10. With the economy stalling and unemployment rising, and now seems surreal that Britain spent the spring debating something as arcane as the alternative vote. T

By: David Colemanl News and Society> Politicsl Feb 13, 2012 Is there a role reversal occurring in the world economy?

Increasingly it appears that emerging market firms are buying a rich world companies. The Halewood car plant near Liverpool was once notorious to strike. In the 1970s its seemingly Bolshevik workforce Frickley clashed with managers.

By: David Colemanl News and Society> Economicsl Feb 13, 2012 Will China's economy overtake the size of the USA within 10 years?

In 2010 china shot past Japan to become the world's second-largest economy based on current market prices. When will it supplant America at number one? The answer depends on how the exchange rates are calculated.

By: David Colemanl News and Society> Economicsl Feb 13, 2012 Discuss this Article Author Navigation My Home Publish Article View/Edit Articles View/Edit Q&A Edit your Account Manage Authors Statistics Page Article Widget My Home Edit your Account Update Profile View/Edit Q&A Publish Article Author Box David Coleman has 76 articles online Contact Author Subscribe to RSS Print article Send to friend Re-Publish article Articles Categories All Categories Advertising Arts & Entertainment Automotive Beauty Business Careers Computers Education Finance Food and Beverage Health Hobbies Home and Family Home Improvement Internet Law Marketing News and Society Relationships Self Improvement Shopping Spirituality Sports and Fitness Technology Travel Writing News and Society Causes & Organizations Culture Economics Environment Free Journalism Men's Issues Nature Philosophy Politics Recycling Weather Women's Issues Need Help? Contact Us FAQ Submit Articles Editorial Guidelines Blog Site Links Recent Articles Top Authors Top Articles Find Articles Site Map Mobile Version Webmasters RSS Builder RSS Link to Us Business Info Advertising More Languages: Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2012 Free Articles by ArticlesBase.com, All rights reserved. Powered by the Parse.ly Publisher Platform (P3).

View the Original article