Johnny Ch Lok

Researching Developing Countries Are Influenced Economic Development Johnny Ch Lok

Human capital factorHuman capital has ability and efficiency of labor to transform raw materials and capital into products and services to affect economic growth. The accumulation of human capital improves labor productivity and increases the returns to capital. However, a well educated background is essential to raise technology to develop economic growth in Asia developing countries especially. In macro and micro economic view, the well educated labor ( human capital) is often as one of the critical factors to influence rapid economic growth to the Asia developing countries' any regions or cities. Because any of these Asia developing countries, such as China, Korea, Philippines etc. countries which need have well educated and knowledgeable labors to raise any employers' productivities and income growth. So productivity and education factor which ought have close relationship to cause the good or bad economic growth in these any one of Asia developing countries. For example, China was an major industrial and farming country between 1960 year and 2000 year. However, after 2000 year, it began to achieve any commercial investment to raise GDP income and to raise more service provision nature of employment chance to domestic labors. e.g. financial investment, shares trading, hotels and tourism and airlines and restaurants and cinemas etc. service nature businesses commercial investment. Moreover, the foreign investors were also attracted to set up factories to manufacture their products in China's country any area locations. It was possible that this foreign investors felt China's workers' wages were more cheaper than themselves domestic worker wages. For example, USA has the minimum wage legislation to protect it's domestic individual worker wage level. Otherwise, China's individual worker wage level is compared to be paid more lower level to compare to USA's minimual legislative individual worker wage level nowadays.