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一、What Determines A Country’s Level Of Economic Development

Gross national income (GNI) per person measures the total annual income received by residents of a nation

Japan, Sweden, Switzerland, and the U.S. have high GNI China and India have low GNI

GNI can be misleading because it does not consider differences in the cost of living need to adjust GNI figures using purchasing power parity (PPP) 二、What Determines A Country’s Level Of Economic Development 1、Nobel-prize winner Amartya Sen argues economic development should be seen as a process of expanding the real freedoms that people experience

the removal of major impediments to freedom like poverty, tyranny, and neglect of public facilities

the presence of basic health care and basic education

Amartya Sen also claims that economic progress requires the democratization of political communities to give citizens a voice

2、The United Nations used Sen’s ideas to develop the Human Development Index (HDI) which is based on

life expectancy at birth educational attainment

whether average incomes are sufficient to meet the basic needs of life in a country 三、What Is The Nature Of Economic Transformation The shift toward a market-based system involves

1、deregulation – removing legal restrictions to the free play of markets, the establishment of private enterprises, and the manner in which private enterprises operate

2、privatization - transfers the ownership of state property into the hands of private investors the creation of a legal system to safeguard property rights