Growing Economies - Growing economic power of countries within Asia, Africa and other parts of the world - 4.1.1

Traditionally, western countries such as the UK, Germany and the US have been markets of growth for businesses to target in terms of exports and international trade.

Economies such as China and India have comparatively high levels of investment compared with western countries such as the UK, which brings with it jobs, infrastructure and new markets for businesses to expand into. Other developing countries such as Indonesia and Tanzania have large and growing populations, a good supply of relatively young workers and increased industrialisation of the economy.

The emergence of Middle-Income Countries (MIC's) has lead to significant changes in the world economy:

• Countries such as Brazil, India and China have become significant global players in terms of all aspects of trade.
• The collapse of communism in Russia and other Eastern bloc states has opened up global markets significantly

These countries have seen significant economic growth and they have utilised their abundant natural resources to help develop their economies as well as increasing the supply of goods and services.