is south america at the same level as southeast asia in terms of wealth and development let us take a look at their economy currently southeast asian region is the fastest growing region in the world in the coming years the southeast asian region will become one of the richest.
Regions in the world the average economic growth of the southeast asian countries from 1989 to 2009 was between 3.8 and 7 this was greater than the average growth of the asia-pacific region which was 2.8 the region's economy greatly depends on agriculture rice and rubber have long.
Been prominent exports manufacturing and services are becoming more important newly industrialized countries include indonesia malaysia thailand and the philippines while singapore and brunei are affluent developed economies the rest of southeast asia is still heavily dependent on agriculture but vietnam is.
Notably making steady progress in developing its industrial sectors tourism has been a key factor in economic development for many southeast asian countries especially cambodia in 1995 singapore was the regional leader in tourism receipts relative to gdp at over 8 by 1998 those receipts had dropped to.
Less than six percent of gdp while thailand and lao pdr increased receipts to over seven percent since 2000 cambodia has surpassed all other asean countries and generated almost 15 percent of its gdp from tourism in 2006 furthermore vietnam is considered a rising power in southeast asia due to its large foreign investment.
Opportunities and the booming tourism sector despite only having its trade embargo lifted in 1995 stock markets in southeast asia have performed better than other bursas in the asia-pacific region in 2010 with the philippines pse leading the way with 22 growth followed by thailand set with 21 and indonesia's jksc with 19.
Beginning in the 17th century the exploitation of the continents resources and the development of its industries were the result of foreign investment and initiative especially that of spain great britain and the united states but since world war ii the nations of south america have sought greater economic independence an increasing number of.
South american industrial centers have developed heavy industries to supplement the light industries on which they had previously concentrated an early obstacle to industrial growth in south america was the scarcity of coal the continent has therefore relied on its petroleum reserves most notably in venezuela and also in argentina colombia.
Chile peru and ecuador as a source of fuel from the 1930s to 1980s countries of south america used import substitution and economic policy that replaces foreign businesses as well as imports with domestic production this was a policy made to increase domestic manufacturing furthermore national spending on arms.
Soared during periods of military rule however this policy created a debt crisis in south america from the 1990s onward countries in south america switched over to the system of free market economy now major economic activities include agriculture industry forestry and mining in 2016 four countries including brazil.
Ecuador argentina and republica believe ariana to venezuela experienced a decline in output other countries in the region were observing a slowdown in growth rates in contrast peru differed from other countries in the region demonstrating an increase in growth rates thanks to copper production in 2017 the economy.
Has started to recover for the first time since 2014. the main contributor to economic growth is private consumption increased retail trade and industrial production in brazil have led to the expansion of its economy by one percent in 2017 higher public investments and private consumption have resulted in the growth.
Of the economy of argentina compared to its recession in 2016. here is a comparison between south american countries and southeast asian countries in terms of population land area gross domestic product gross national income ppp per capita and hdi.
in conclusion it is clear that south.
America is at the same level as southeast asia in terms of development for now but the fast developing growing economies of southeast asia is expected to make a huge sleep leaving the latin american regions behind the gap will widen in the next coming years as the rising asean tiger cubs are developing at a much faster pace than the.
Stagnating south america region the economies of southeast asia are growing five times faster than the economies of south america