Regional Paper
East Asia, a subregion of Asia, is a geographical region that geographically covers about 12,000,00km, or about 28% of the Asian continent and about 15% bigger than the area of Europe. According to Wikipedia website, More than 1.5 billion people, about 40% of the population of Asia or quarter of all the people in the world, live in geographic East Asia, which is about twice the population of Europe. East Asia consists of a population of 1,552,942,700. Languages spoken in East Asia include Chinese, Japanese, Korean, Vietnamese, Mongolian, and many others. East Asia’s international integration with the International Monetary Fund will promote global business.
China since 1978 has grown rapidly. China consists of a population of about 1.3 billion and is considered the world’s fourth largest economy and the third largest trading nation. According to worldbank website, China remains a developing country, with GDP per capita about $1,740 and more than 135 million people living on less than $1 a day. China also faces challenges with managing resource demands and environmental consequences of growth, maintaining rapid growth, and addressing inequalities in opportunity and income. According to worldbank website, China will need to shift its growth strategy from one that relies heavily on industry and investment to one that encourages development of the services industry and reduces barriers to labor mobility.
The First World War and the United States’ economic slump led to the Great Depression which had several devastating effects to the United States and a worldwide negative impact. On October 29, 1929, the stock market crashed which officially commen ...