The global economic production

English vocabulary used to talk about economics and business.
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kimkyounghee
Posts: 10
Joined: Tue Mar 08, 2005 11:06 am

The global economic production

Post by kimkyounghee »

The global economic production is about five times larger than it was in 1950.
from Making Peace

1. The global economic production could bigger and develeped from the changed in international economic enviroment since 1950. For example, Korea had just seaweed and duck-feathers as their main source of global trade. However, global economic production began to expand around 1970 . Today Korea trades with many countries. Korea has traded an important role in the development of the global economy.

2. Global Economic Production is an idea of the economic health of the world. It includes trade on a global level. It is also related to the population growth, the rising wealth of the population, and the level of technological growth. As the level of technological growth up, the production level becomes higher because technology make it easier to produce goods for the global economy.

kimkyounghee
Posts: 10
Joined: Tue Mar 08, 2005 11:06 am

Post by kimkyounghee »

The idea of global production is not very clear. There is no real simple definition that we can use to describe it. However, I think the two sections do a good job of explaining what it is.

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