The Brandt Line is an invisible line across the world that divides the rich north from the poor south. The Brandt Line corresponds with the divide between economically developed and industrialized countries and those countries that are less economically developed.Know More
Reference reports that the Brandt Line was introduced by Willy Brandt in the 1970s to illustrate the rich and poor countries of the world. The United States, Europe and Russia all are north of the Brandt Line, and therefore considered richer. On the other hand, most African and South American countries are below the Brandt Line. The Brandt Line circles the globe at roughly 30 degrees north, although it does shift radically south at Australia and New Zealand so that those two countries are included in the rich north.
According to BBC and the Brandt Line, there are distinct economic differences between the north and the south, with the north producing more goods while the south produces less. However, as of 2014, some of the southern countries have become newly industrialized and are becoming richer. Among these countries are Mexico, Brazil, South Africa, India and China. This change is due to a shift from agriculture to manufacturing, exporting goods and stable governments.Learn more in Economics
The wealthiest continent in the world is Europe. Europe owns just below $33 trillion dollars in assets, making it the richest continent. North America takes a close second, with assets worth $32.7 trillion.Full Answer >
As one of the largest economies in the world, Russia stands as the 17th largest importer of goods in the world as of 2013. With an import spending that is projected at $317.8 billion, approximately 18.1 percent of Russia's import spending goes into the product category machines, engines and pumps. Following closely at 12.6 percent of import spending is vehicles, with third being electronic equipment.Full Answer >
Market economy, planned economy and mixed economy are the three major types of economic systems that prevail across the world, states Economy Watch. Each economic system offers a different view on the role of government in the economy.Full Answer >
The richest country in the world per capita is Qatar. Qatar had a total GDP of $213.784 billion and a per capita GDP of $102,785 as of 2012.Full Answer >